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Twin Lakes TIF District No. 17 <br />Page 3 of 6 <br />June 9, 2009 <br />, �'a`. ,; <br />� ��'� _ <br />� _ �. f �: : <br />y ..�' - ' <br />�: "°"v ,i�t . <br />� ° ,,�a.n >._�:, <br />.� � <br />. - ' , � <br />' _ ' � <br />�' f II!I �� � ., � <br />a±r. � — z�i <br />_ - -_ � <br />Diagram 1— TIF No. 4-2 <br />� <br />i�� <br />2005 Image on the left <br />I� �, �� .� �:; ;, t ' <br />`�_ .Ar� <br />. I _ <br />4 L • • <br />� •�p�{ .x�W � ,1 �I <br />,y�,�,.��, n" � �y#+�3 �� I �' 1 �._a;I._. <br />�:iix ;J�aqly 1�'ti Yldi'�'1�4'�1 .} ? _4 '.,t�Vl! <br />2009 Image �on the Right <br />We did not modify the replacement value of the buildings from our 2005 numbers, assuming that <br />any increases or decreases in overall building replacement value would be similar to increases or <br />decreases in the cost to fix substandard items in the buildings. <br />Qualification Requirements <br />Minnesota Statutes, Section 469.174, Subdivision 10 (a) (1) requires two tests for occupied <br />parcels: <br />A. Coverage Test <br />... "parcels consisting of 70 percent of the area of the district are occupied by buildings, <br />streets, utilities, or paved or gravel parking lots" <br />The coverage required by the parcel to be considered occupied is defined underMinnesota <br />Statutes, Section 469.174, Subdivision 10(e), which states: "For purposes ofthis subdivision, a <br />parcel is not occupied by buildings, streets, utilities, or paued or grauel parking lots unless 15 <br />percent of the area of the parcel contains building, streets, utilities, or paved or grauel parking <br />lots." <br />Findings: <br />All 10 remaining substandard parcels are fully covered by buildings, parking lots or other <br />improvements, which exceeds the 15 percent parcel requirement. <br />B. Condition of Buildings Test <br />... "and more than 50 percent of the buildings, not including outbuildings, are structurally <br />substandard to a degree requiring substantial renovation or clearance;" <br />1. Structurally substandard is defined underMinnesota Statutes, Section 469.174, <br />Subdivision 10(b), which states: "For purposes ofthis subdivision, `structurally <br />substandard' shall mean containing defects in structural elements or a combination of <br />deficiencies in essential utilities and facilities, light and ventilation, fire protection <br />including adequate egress, layout and condition of interior partitions, or similar factors, <br />which defects or deficiencies are of sufficient total significance to justify substantial <br />renovation or clearance." <br />