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CCP 01-09-2006
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CCP 01-09-2006
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<br />. <br /> <br />. <br /> <br />. <br /> <br />BRKW APPRAISALS, INC. <br /> <br />REAL ESTATE VALUATION SERVICES <br /> <br />December 19, 2005 <br /> <br />City of Arden Hills <br />Attn: Karen Barton <br />Community Development Director <br />1245 West Highway 96 <br />Arden Hills, Minnesota 55112-5743 <br /> <br />Dear Ms, Barton: <br /> <br />Thank you for your letter dated December 9, 2005, in which you requested I provide you with an <br />appraisal proposal relating to the six acre tract of land at 1450 Highway 96, formerly used as the <br />City of Arden Hills Public Works facility, <br /> <br />Please be advised I can provide you with the requested land appraisal under the following terms <br />and conditions: <br /> <br />>- A complete appraisal of the land will be prepared in the form of a self contained report, <br />Three copies of the appraisal report will be submitted to you, The report will provide <br />summary information on the subject property as well as on value related market <br />information, including researched comparable land sales, found to be pertinent in the <br />valuation issues, The appraisal will conform to the standards and requirements ofthe <br />Uniform Standards of Professional Appraisal Practice (USP AP). <br /> <br />>- Three separate estimates of value will be provided. They are: (I) the market value of the <br />land based on a highest and best use for "limited business" development, (2) the market <br />value based on a townhouse form ofland use assuming the site could be developed at a <br />maximum density of seven units per acre, and (3) the approximate value ofthe land based <br />on a mixed use development whereby there would be retail on the main level with <br />residential housing units above, <br /> <br />>- The completed appraisal will be provided to you within five weeks time from the date I <br />receive notification of approval to proceed with the assignment. <br /> <br />>- The total appraisal fee will be in the amount of$3,400. The allocation of the fee is <br />$2,400 for the "base" report that arrives at an estimate of value based on limited business <br />land use; the sum of$750 for the second valuation section relating to the townhouse form <br />ofland use; and $250 for an analysis/discussion and estimate of a mixed use fonn ofland <br />utilization. <br /> <br />S P Rue E <br /> <br />TREE <br /> <br />31 4 <br /> <br />C E N T R E. <br /> <br />SUI T E <br /> <br />1600 UNIVERSITY AVE 5T PAUL MN 55104 <br />651.646.6114 fAX 651-6468086 brkw@brkwcom <br />
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