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Attachment 1 <br />File: Executive Summary <br />ExecutiveSummary <br />EXECUTIVE SUMMARY <br />Property Type:Tenant Improvements and Trade Fixtures of a <br />Beauty Salon <br />Tenant:TDM Salons LLC - known as Salon 27 <br />Tenant Owners:Ted and Dana McCullum <br />Location of Subject Property:2727 Lexington Avenue North <br />Roseville, Minnesota 55113 <br />Client:City of Roseville, MN <br />Intended Users:City of Roseville, MN <br />Date of Value:December 7, 2924 <br />Date of Inspection:October 23, 2024 and December 7, 2024 <br />Date of Report:January 22, 2025 <br />Property Appraised:Tenant Improvements and Trade Fixtures <br />Type of Value Appraised:Fair Market Value in Continued Use <br />Highest & Best Use:N/A - Assumes Continued Use <br />Marketing & Exposure Time:Six Months - (would sell as part of larger business) <br />Property Rights Appraised:Fee simple / Unencumbered <br />Value Conclusion:$ 143,760 <br />EXTRAORDINARY ASSUMPTIONS <br />An extraordinary assumption is defined as “an assignment-specific assumption as of <br />the effective date regarding uncertain information used in an analysis which, if found <br />2 <br />to be false, could alter the appraiser’s opinions or conclusions.” <br />Had the City of Roseville not acquired the retail center, then the tenant, TDM <br />Had the Citynot acquired the retail center property, then Salon 27would <br />have continued to occupy the subject spaceuntil the subject tenant <br />improvements and trade fixtures were attheends of their usefullives. <br />HYPOTHETICAL CONDITIONS <br />A hypothetical condition is defined as “a condition, directly related to a specific <br />assignment, which is contrary to what is known by the appraiser to exist on the <br />3 <br />effective date of the assignment results but is used for the purposes of analysis.” <br />None Noted <br />2 <br />The Appraisal Foundation, USPAP, 2020-2021 <br />3 <br />The Appraisal Foundation, USPAP, 2020-2021 <br />Dodd Advisory & Valuation ii <br />Qbhf!:9!pg!385 <br /> <br />