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NAGELL APPRAISAL & CONSULTING <br />12805 Highway 55 Phone: 952-544-8966 <br /> Plymouth, MN 55441 <br /> Established in 1968 Fax: 952-544-8969 <br />_______________________________________________________________________________________ <br /> <br /> <br />Client: City of Arden Hills, David Swearingen February 15, 2025 <br />C/O Brad Fisher, PE of Bolton & Menk <br />12224 Nicollet Avenue <br />Burnsville, MN 55337-1649 <br /> <br /> <br /> <br />RE: A Restricted Appraisal Letter Report special benefit if any for street improvements for <br /> 2026 PMP – Rehab Type, Arden Hills. <br /> <br /> <br />Dear Brad: <br /> <br /> <br />Thank you for your interest in obtaining services regarding the project noted above. The following is an engagement <br />letter to provide a preliminary opinion of market benefit if any to the properties in the projects noted. <br /> <br /> <br /> <br />Report Use: The letter report is for the sole internal use of the City only, and is to assist the City for guidance regarding <br />special assessment determination for the proposed improvement project for properties abutting the streets. Should <br />an owner(s) appeal the assessment amount, a standard narrative appraisal report would be needed for District Court, <br />which would involve a separate fee. <br /> <br /> <br /> <br />Value Type: This would be a restricted appraisal letter report, it provides a preliminary general range of market benefit <br />if any for properties like those on along the subject streets. <br /> <br /> <br /> <br />Project Description: <br /> <br />1. Project mill and overlay and full depth reclamation. See map below. <br /> <br /> <br /> <br />Properties Types in the Project (see below and attached): <br /> <br />Residential and industrial (by Boston Scientific <br /> <br /> <br /> <br />Contact for access, Not necessary. <br /> <br /> <br />Scope of Report: Driveby viewing of the subject road and properties. (2) Note the physical and/or economic factors <br />that could affect the properties. (3) Comment on market benefit if any based on observations of the market. (4) Provide <br />a general range of benefit if any for properties in the project. Given the scope of the assignment, supporting data is <br />retained in the appraiser files. Ethan Waytas, MAI, Certified General 40368613 to co -sign the letter and testify if <br />needed. <br /> <br /> <br />Report Format: A Letter report will be provided. Supporting data retained in the appraisers workfile. <br /> <br /> <br /> <br />Fee: The fee is $1,600 total . Any meetings, owner contact, appraisal reports, any discovery, preparation and testifying <br />would be extra and billed at $200 per hour. The client named above is responsible for payment in a timely manner. <br /> <br /> <br /> <br />Due Date: Report can be completed in about 4 weeks from engagement. <br /> <br /> <br /> <br /> <br /> <br />Information needed by the appraiser: Feasibility report. <br /> <br /> <br /> <br /> <br /> <br /> <br />