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• When one light bulb is replaced, it is common to replace all of the bulbs because a <br /> majority of the cost is for the person to go up and down the tower. Mr.Romsos did not <br /> find any electrical issues with tower and did not expect the lighting electrical system to <br /> need replacement anytime soon. The paint is in good condition,though there is some <br /> minor peeling. During the annual inspections,the condition of the paint would be <br /> reviewed to determine when painting is needed. <br /> The appraisal notes that it is reasonable to expect this tower to have at least an additional <br /> 30 years of useful life with proper maintenance. <br /> Assuming costs are on the higher end,the annual maintenance cost would be $7,200. <br /> This annual cost includes new light bulbs,the annual inspection, grounds maintenance <br /> and saving$2,000 per year for painting and lighting electrical replacement. <br /> Utilities <br /> The property owner is currently paying the utilities, including electricity. The utilities are <br /> estimated at$300 per month for a total cost of approximately $3,600 per year. <br /> Property Taxes <br /> The below values are based on the entire property at 1296 County Road F, which <br /> 111111 includes the proposed Arden Village site. <br /> o 2010 Total Market Value= $903,300 <br /> O 2010 Land Market Value= $715,600 <br /> o 2010 Building Market Value= $187,770 <br /> o 2010 Total Tax Payable= $30,892 <br /> The appraiser estimated the property taxes on the tower property would be $3,500 per <br /> year. If the City purchases the communications tower property, the land portion will <br /> become tax exempt. However,the tenants are still responsible for paying personal <br /> property taxes for the equipment on the tower. The City would continue to collect the <br /> local portion of the taxes, and a significant change in tax collection is not anticipated. <br /> City Staff Costs <br /> The cost of City staff time could vary considerably from year to year, primarily <br /> depending on if a new lease needs to be negotiated. While it is difficult to estimate the <br /> cost of staff time, 20 hours per year at a rate of$30 per hour for a total cost of$600 per <br /> year is reasonable. <br /> City ofArden Hills <br /> FPAC Meeting for June 8, 2010 <br /> IlAhdocs11ah1AHdatalPlanninglCommunity DevelopmentlWireless Communication Towers Reding Tower1060810-FPAC Memo-Reding Tower <br /> 411 Purchase.doc <br /> Page 3 of 4 <br />