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<br />DAHLEN & DWYER, INC. <br /> <br />The Twin Lakes Re-development Area is intended to eventually provide housing <br />opportunities. The apartment vacancy rate in Roseville is relatively low. The City <br />forecasts a market for an additional 1 00 units per year of multiple housing to the year <br />2000. The Twin Lakes Area will eventually be developed with multi-family activity <br />along the west side of Langton Lake and along Oasis Pond near Snelling Avenue. <br /> <br />The northwest quadrant of County Road C and Fairview Avenue is currently <br />being re-developed. Three properties have recently been purchased with the <br />improvements being razed so the sites can be re-developed. This includes the Ramsey <br />Engineering parcel of 9.86 acres, the Lindig parcel of 2.56 acres, and the Great Dane <br />parcel of 4.60 acres. The first two parcels were purchased by Ryan Construction <br />Company while the third parcel was purchased by the City of Roseville. All of the <br />parcels are contiguous and currently a joint venture project is underway between Ryan <br />Construction Company and the City of Roseville to re-develop the parcels using Tax <br />Increment Financing. In the spring of 1993 the first stage of re-development <br />occurred. A 50,000 SF multi-tenant office/warehouse building was constructed. The <br />remainder of the site is in the process of being developed with office, <br />office/warehouse, and possibly a research facility. <br /> <br />Your appraiser has found the City of Roseville to be a well-balanced community, <br />economically, socially, and culturally. No detrimental factors have been observed in <br />this analysis which would restrict residential, commercial or industrial growth in the <br />City of Roseville. <br /> <br />9 <br />