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<br />Baiers C. Heeren <br />January 28,2004 <br />Page 2 <br /> <br />Severance. You indicated in your letter, and your appraiser explained over the phone, <br />that the appraiser feels that $20,000 in severance damages is warranted over and above the <br />$55,000 in land value. After extensive discussions with the City's appraisers and further <br />research on the issue, we disagree. It is not appropriate to use both the sales comparison <br />approach ($55,000) and the income approach ($20,000), and then combine the totals. Only one <br />appraisal method is used, and the City utilized the one that provided the largest valuation for <br />the owner. Also, bear in mind that the $55,000 valuation incorporates the income potential of <br />that land - that is why that vacant strip is worth that much in the first place. <br /> <br />While we feel quite strongly about that our appraisers are correct in their assessment, <br />the City also wishes to avoid a lengthy and expensive court battle if possible. The City is <br />therefore willing to increase its offer to $60,000 to settle this matter. The City will also <br />provide landscaping between the road and the apartment building and parking lot as part of the <br />project's master landscaping plan. <br /> <br />Please advise as to your client's position on these issues, and give me a call if you have <br />any questions. <br /> <br />Very truly yours, <br /> <br />J11/~ <br /> <br />Joseph 1. Langel <br /> <br />cc: Mr. Dennis Welsch, City of Roseville <br /> <br />RRM: 57898 <br />