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061295 EDA
Official File Copy CITY OF NEW HOPE EDA AGENDA EDA Regular Meeting//9 June 12, 1995 President Edward J. Erickson Commissioner W. Peter Enck Commissioner Pat LaVine Norby Commissioner GeraM Otten Commissioner Terri Wehling 1. Call to Order 2. Roll Call 3. Approval of Minutes of May 22, 1995 4. Motion Authorizing Staff to Proceed to Negotiate with Property Owners to Purchase Properties at 7621 Bass Lake Road and 5559 Sumter Avenue for Bass Lake Road Extension Housing Redevelopment Project (Improvement Project No. 541) 5. Motion Authorizing Staff to Obtain Appraisals on Two Additional Properties (7609 Bass Lake Road and 5520 Sumter Avenue North) for Bass Lake Road Extension Housing Redevelopment Project (Improvement Project No. 541) 6. Motion Approving Participation in Phase II of the Community Partners Business Retention Program 7. Consideration of a Market Study Proposal by Northwest Associated Consultants, Inc. for $9,500 8. Adjournment CITY OF NEW HOPE 4401 XYLON AVENUE NORTH HENNEPIN COUNTY, MINNESOTA 55428 Approved EDA Minutes May 22, 1995 Meeting #8 CALL TO ORDER President Pro tern Enck called the meeting of the Economic Development Authority to order at 9:21 p.m. ROLL CALL Present: Enck, Otten, Norby, Wehling Absent: Erickson Staff Present: Sondrall, Hanson, Donahue, Leone, McDonald, Bellefuil APPROVE MINUTES Motion was made by Commissioner Otten, seconded by Commissioner Wehling, to approve the EDA minutes of May 8, 1995 and May 15, 1995. All present voted in favor. Motion carried. IMP. PROJECT 539 President Pro rem Enck introduced for discussion Item 4, Resolution Item 4 Authorizing Mortgage to 7700 Partnership, L.L.P. for Property at 7700 42nd Avenue North (Improvement Project No. 539). Mr. Dan Donahue, City Manager, stated the resolution is a result of the action taken by the City Council at its May 15th Work Session. He stated the loan is for $140,000 at an 8% interest rate amortized over 15 years with a balloon payment at the end of year 10. He stated the City is taking 3rd position on the mortgage, and the owners will carry $140,000 life insurance policies. Also, Universal Color has agreed to provide an annual $2,000 maximum retail cost donation for in-kind services to the City. EDA RESOLUTION Commissioner Wehling introduced the following resolution and moved its 95-08 adoption: "RESOLUTION AUTHORIZING MORTGAGE TO 7700 PARTNERSHIP, L.L.P. FOR PROPERTY AT 7700 42ND AVENUE NORTH (IMPROVEMENT PROJECT NO. 539)". The motion for the adoption of the foregoing resolution was seconded by Commissioner Norby, and upon vote being taken thereof, the following voted in favor thereof: Enck, Otten, Norby, Wehling; and the following voted against the same: None; Absent Erickson; whereupon the resolution was declared duly passed and adopted, signed by the president which was attested to by the executive director. MCPP President Pro rem Enck introduced for discussion Item 5, Resolution Item 5 Approving Submission of the Minnesota City Participation Program (MCPP) Application to the Minnesota Housing Finance Agency (MHFA). Mr. Donahue indicated to participate in the program the EDA must adopt this resolution. He noted through this program the City works with local lenders in securing funds for first-time homebuyers in the City. The homebuyers must meet certain criteria to qualify for the program. EDA RESOLUTION Commissioner Wehling introduced the following resolution and moved its 95-09 adoption: "RESOLUTION APPROVING SUBMISSION OF THE MINNESOTA Item 5 CITY PARTICIPATION PROGRAM (MCPP! APPLICATION TO THE MINNESOTA HOUSING FINANCE AGENCY (MHFA)". The motion for the adoption of the foregoing resolution was seconded by Commissioner Otten, and upon vote being taken thereof, the following voted in favor New Hope EDA May 22, 1995 Page I thereof: Enck, Otten Norby, Wehling; and the following voted against the same: None; Absent: Erickson; whereupon the resolution was declared duly passed and adopted, signed by the president which was attested to by the executive director. OTHER BUSINESS Commissioner Wehling updated the EDA on the activities planned for the "Shop Neighborly New Hope" kick-off to be held the evening of June 14th. Mr. Donahue reminded the EDA of the May 23rd Twin West site tour. ADJOURNMENT Motion was made by Commissioner Norby, seconded by Commissioner Wehling, to adjourn the meeting. All present voted in favor. The New Hope EDA adjourned at 9:32 p.m. Respectfully submitted, Valerie Leone City Clerk New Hope EDA May 22, 1995 Page 2 I EDA ~ REQUF~T FOR ACTION Originating Department Approved for Agenda Agenda Section City Manager EDA /~12-95 , Kirk McDonald Item No. By: Management Assistant By:// 4 / MOTION AUTHORIZING sTAFF TO PROCEED TO NEGOTIATE WITH PROPERTY OWNERS TO PURCHASE PROPERTIES AT 7621 BASS LAKE ROAD AND 5559 SUMTER AVENUE FOR BASS LAKE ROAD EXTENSION HOUSING REDEVELOPMENT PROJECT (IMPROVEMENT PROJECT NO. 541) At the May 8th Council meeting, the City Council and staff discussed potential housing redevelopment options in the Bass Lake Road Extension area. Staff indicated that properties would be acquired on a voluntary, willing-seller basis. Staff also indicated that two property owners (7621 Bass Lake Road and 5559 Sumter Avenue) had already contacted the City and were interested in the City purchasing their properties and the Council authorized staff to proceed with appraisals on those two properties. BCL Appraisals has completed the appraisals on the two properties and the "Fair Market Value" estimates are compared to the January, 1994, assessed values below: PROPERTY FAIR MARKET 1994 OWNER ADDRESS VALUE ESTIMATE ASSESSED VALUE J. LaLiberte 5559 Sumter Avenue $62,000 (Land) $21,500 (Bldg) $42,000 $63,500 J. McBrady 7621 Bass Lake Road $78,000 (Land) $21,500 (Bldg) $56,000 $77,500 If the EDA is interested in pursuing this redevelopment project, staff recommends that the EDA approve a motion authorizing staff to proceed to negotiate with the property owners for the possible purchase of the properties. All agreements would be brought back to the EDA for final approval. TO: tZ~>C,OaxC Review: Admin/stratton: Finance: II I II I II I RFA-O01 ~ ~ I l i Professional l A. C. Carlson Apartments (R-2) ~ Building (R-O) Furniture (B-2) ~. Bass Lake Road . f, - · ~ · ......... , ~.--- ~'' [/_.~ [~1 iI .Raphaels o~ , , .Church/School ._.-.-- ..... , ~, Elm Grove Park ~ ' , , 55th Avenue ...... Study Area and Project Boundaries Exhibit D New Hope - Neighborhood Redevelopment Project BCL Appraisals, Inc. Bjorklund, Carufel, Lachenmayer, Incorporated File No. 95-0525-A May 24, 1995 City of New Hope 4401 Xylon Avenue North New Hope, Mn 55428 Attemion: Kirk McDonald Attached is the appraisal completed on May 24, 1995 for the property at: 7621 Bass Lake Road New Hope, Mn 55428 JeFome and Knrln McBrady The estimate "Fair Market Value" as of May 24, 1995 is: Seventy-Eight Thousand Dollars $78,000 No responsibility has been assumed for matters which are legal in nature, nor has a~ opinion on them been rendered other than assuming marketable rifle. Liens encumbrances, if any, have been disregarded and the property was appraised as though free of/ndebtednesa. In thh appraiml assignment, the existence of potentially hazardous material used in construcUon or maintenance of the building, such aa the presence of urea-formaldehyde foam imulation, asbestos, and/or the existence of substances such as toxic waste or radon g~ts, and/or the existence of any other environmental influence that may adversely affect the value of the property, was not observed by me; nor do I have any knowledge of the existence of such materials/substances/influences on or in the property. The appraiser, however, is not qualified to detect such materials/substanceslirdluences. The existence of urea-formaldehyde foam insulation, or other potentially hazardous material, or toxic waste or radon gas, may have effect on the value of the property. I urge the client ~ retain an expert in this field if desired. Please feel free to call if you have any questions. We appreciate your business. Sincerely, BCL Appraisals, Inc. ? f/ / Ron Lachenn~yer, SPA lU~jdw 2LS2 A~tb~y LsM Somh, Minneapolis, Mirmmom 5~418 (612) 781-(MOS Fu: 781-7826 ProFert¥ D®scr'tptlo~ UNIFORM RESIDENTIAL APPRAISAL REPORT F,io #o. 'Pmpsn'vAddress7621 ~SS ~ke R~d c~Ne~ Hope ~tate~ zip~28 Le~al~cdption~e A~ched Addend. coun~Hennepm Assessor's Parcel ~. 05-118-21-33-0027 Tax Year 1 ~ R.E. T~xes S 1,11 ~. 00 Specml Assessments sNone ~rrower Je~ome/~[a Nca~aW Currant ~ner Occupant: ~ ~ner [~; Tenant N/~uo Sale Pdce $ ~/A O~ie of Sale N/A ~scnp~on and $ a~t of I~ c~r~s/~n~ssi~s ~ ~ ~id W ~ler N/A ~Lender/ClientC[~y O~ Ne~ Hope Add~.~01 Xy[on Avenue No~ New HODe. ~ ~A~pmiserROn ....... S~A Addmss28~2 ~:hony ~e ~u~h~ Ninn~po11~;~ ~ ~18 ~ilt up ~ ~r 75[ ~ 25-75~ ~ ~r ~[ ~c~y PRICE AG S(~) ~ ~ie~ 70 ~ ~t lik~ Gm~ m. ~ ~ ~pid ~ Sabie ~ SI~ ~ ~r 50 Low 20 2-4 family 5 ~ In Pm~ val~a ~ Incmaang ~ Sable ~ ~climng ~ Te~a ~ Hiqh 60 ~-~ ~ To: ~n~supp~ ~ S~ ~ ~ ~ ~~ V~(~ P~domi~flt Com~rcial 1~ ~ig~d~deeandcharacteristica: ~e[~hOO~ ~P[O~ Cona[s~ O~ ~Z~d Ave to ~he no~h~ Boone Ave ~o ~he ves~ 4~th Ave N to ~he south~ and C~ Rd 8t ~o [he Factors that affect t~ ma~etabili~ of the pmpe~ea in t~ neighbo~ood (pmximi~ to employment and amenities, employment stabili~, appeal to market, etc.): lirklt conditiona in the subject neighborhood (including eu~pod for the Ibove conclusions roi&tod to the trend of pmpsdy value-., demsnd/supply, and marketing time - - such ss dote on competitive properties for mole in the neighbomood, description of the pmvsloncs BI SOilS end financing concessions, sic.): ' ~4DOlY and d,--~_d characteristics app_~e_~ to be in ba[anee. ! did not observe any unusual number of h__~__- currently on the market. Normal marketinR time is u~der three months. Interest rates are at 7.§% to 8.25% with ·ere to three points beinl~ tvoical. All tv~ea of financin~ are ava liable. Project f~form&tioe for PU~ (If npelioobto) - - la the peveto~r/bmlper ia contel ct the Home Ownor~' Asooctaton (NBA)? [~ YES [~ NO Approxtll~te teem famll~f of tJelta ill the ~ pm~ect ApI)mximate total nl~ef of uoits for sale in the subject proiect I~c~ co,~.T~ ;;--,m~nts and mc.----'~-~l tocilitJe~ 0imensions 167 · 175 x 200 · 85 · 33 x 90 J Topography Lvl-Decl to rear Sitolmi E~r~t_~ [,,~:)Oro2:,.) '~2.0:~0 .~Q, irt. ComerLot [~Yso [~NO[ Size Average Specific zoning clasafficallon and de,copSes R-1 Shape IrreRu[ar 7.oningcomplieac. [~]l. oga ._~Log, i~(emal, l.~,,-) [~#~ [:] No zontog I Omir~g~ Appears Averm=e HieheM & best usa la imefov~d: I X J P~ m [ · (~her I (eXldlhl) ~ Res i dent ial UtJIItle~ Public Olhef Off-dte~t~ Type Public PfiVllet !.~ Average Appeal ~,s ~ Nat, Cas cu~/~m~ None Apeamnt s.e.w~ See Comments wol.r ~ ~ sl~mm None ~ specml Fieo~ Haza~l Ams ~ Yes [] I~ Sa~buyswmr ~,J~ Stmetllghtl Yes FEMAZone C ~pDato 1-2-81 Storm;;-;.*;: [~ Alley None l=l~aA Mas No. 270177-0001B IComments (opl~mnt idveme eulfamdl, tncfolchinoat,, ~ assessments, stido -,mss, illegal or legal nonconforming zoning, use, sic.): See Attached No. ofunits I Foundaarm Con Bleak siea ~o ] AmiS,FL 812 __ ~=~ Exiitl~j/l~i Existina Wh.lowTyw Dbl Hune 0a.~..a. one note~. I n~r .~oncrece [ ~one __ ~ Agl(Yrl.) 41 sto.lvscm, r~ CoBb. Sot.om.fit ~lone notea I Ou~/EWy ][es /.~..~,--. __ ~ Effec~Aal(Ym.) 40-45 !: .... =-=-~Hnuee NO I nfestalion None noted |Hone -" 1 I 81.: I.s~et I I I 1 1 1 Lwd 2 2 2 60u I~ MatodNa/Coadilirm HEATING KITCHEN E(]JIP. ATtiC AMENITIE~ CAR STORAGE w~o Dry,,,~ll/Ava FuM N C~a I~ng./Ov~ Stare Po~o Concre'Ce Garage #otcam : Tdm/F~m P ine/Averaae Cmd. mAvera~e m~om ~w star ~ A~cbed 2+ hth FIBer Vin¥1/Averaite COOLING Dishwolher Scut'de Porch Detlcbed 911hWsinacot ~ Cent~ Yea Fin/Hood Floor Fence guilt-In Door. Pine-Flush/Aver Oth.r None Jacrow.v. Heot.d ~ Cared ;~,:::::Avera,,e W.,~r/Drv.r Finiebed ~)dv~rvy~v 3 O:ff~t Additional flolumo (sp4cill Inerg~ efficient arima, etc.):. See Atl'.a(.~hed A-~-''~dl.~. Condition of the impmvementL depmctatiefl (physical. functlonll, cod external), rsplirs needed, qualily °f c°netmcfl°n' mm°deling/additi°ns' otc': See Attached Adverse o~vimnmental crmdttirmo (such os. but not limited to, hozsrdous wastee, toxic substsncee, etc.) prssont in the improvements, on the sits, or in the immedlote victnity el the eubject property: See Attaohed A~._=_~~m, PAGE 1 OF 2 Fm~me Mae F~a 1004 UNIFORM RESIDENTIAL APPRAISAL REPORT ~t,.,o. 95-o5~5-A ESTIMATED SITEVALUE ' $ ~. 000 Comments on Cost A;proach (such as, source of cost estimate ESTIMATED ~PRCOttCTION CO~T-NEW ~ IM~VEMENT~: site value, square foot calculation and for HUD. VA an~ FmHA the ~etling. 1 ,~12 Sq. Ft. e $ 6~.00 = S , ~1 ~780 I estimated remaining economic life ol the prope~y): . Cos~ f~Rures ~ve ~en ob~aLned throuRh F~tures on 1st PR ' 2,]00 the ~rshall Swift Cost Cuide as well as ~m~/~, 816Sq. F[ e ~ 1].00 · 12,2~0 local sources. The sub.~ect suffers from TomiEs~mate~Cost~. . ~ 106,~20 some functional depreciation ~e to the L.s Physi~l Fu,cti~i ~te~l unite access off of ~ss ~ke E~d. This ~ 56[5[ 0% . t 6~,000 private ~s~nt will meet some buyer ~pmciate~Val~oHmpm~e~nts . . -~ ~1, resis~nce. This results in an ,esti~ted 'as-i~'val~fsiml~*s -S I~S in value. ~e at~ched sketch for life 20- I~M SU~ECT COMPA~BLE ~. 1 COMPA~BLE ~. 2 COMPA~SLE NO. 3 7621 ~ss ~ke R~d L~r~ ~ne 6922 CorvaLlis Ave 5857 Neva~ Ave Address ~ Seles Pdce N/~ S S 84, ~.~or 105 ~ys-Cty C~ ~ 10 ~ys-Cty Cl~ ~S 98 ~ys-Cty Clsg Verification Souses 8-~ Ree/Clsd Rec/Clsd ~-2~ -~ sm, or R~ Conv~t i~l Conmsaim. Points Points Points Fee Fee Fee Acre .2# Acre +~,00( Residential Residential 60 Condition GOOd Above Grade awn, aae,~ Room Count -1,000 +1,000 +2,00( ~&F,~ W/O-Full W/O +1,000 Full-No W/O +1,000 Full-No W/O +1,00( 612 sf Fin -5,00( G~A/None + 1,00( ~ Att 1 ~r De.ch +2,50( ~.~,~. Patio-30=10 -1,500 None +500 ~k -50( None Fence - 1,00( F~tures 'None Features -1,00( ITEM COMPARABL~ NO, 1NO COMPARABLE NO. 2NO COMPARABLE NO. 3 Bate, Price and Data Sea. cream No Reeo~'d Record Record Record sold 12 months other tt~n ~a ~ At~ ;=~Co;t ~r~oh S8~.~00 ~[e; C~r[son a[y;[; ~78,000, Ino=e ~r~oh ~ not ~ h=el. The ~e; CoaSt[son ~tor o~ I(~E~~V~AS~.~G~~T~~~T, AS~y 24, 1~95 ~ Roil ~che~ye~, S~ -' Na~ Inspect ~m~si~ ~y 2~, 1995 BJO~, C~UFEL, LA~E~YER, ZHC. '1 BCL Appraisals, Inc. , Bjorklund, Carufei, Lachenmayer, Incorporated Fil, ~o. 95-0525-A LEGAL DESCRIFHON: Aud Subdivision No 226, Corn at a pt dis 235.2' south of a pt in the north line of Lot 39, dis 410' east from the N-W corner thereof th south 167' th east 175' th north 200' th west 85' th south 33' th west 90' to beginning. NEIGHBORHOOD FACTORS THAT AFFECT MARKETABILITY: The subject is located in New Hope. This western suburb of Minneapolis is nearly fully developed and represents the secondary growth ring of the metro area. The subject lies very near the border of New Hope and Crystal. The neighborhood consists of a mixture of uses. The.primary use is residential, however, there are some ap. artments, commercial and multi- family homes in the neighborhood. Employment is primarily blue collar with most residents working in .downtown,., ,M~nneatx~lia or western subu.rbs, Subject is convement to educational ano recreational facllltles. Good freeway access is near. Downtowu Minneapolis is a 20 minute drive. SITE COMMENTS: The subject has an unusual site location with access off of an easement, off of Bass Lake Road. As indicated in the attached plat map, this l?vate road provides access to three homes that are located somewhat in the middle of a residential block. The site is above average and is land. sc~.ped..with mature trees..This appraisal is based on the proper easements being recorded in the lega~ oescription to proviue access to the subject property.- ' ADDITIONAL FEATURES: Additional features include central air conditioning, fireplace and a rear concrete patio- 10x30. Freestanding appliances have been checked for information only and are not included in the appraised value. CONDITION OF THE IMPROVEMENTS: The subject is a 1.5 story design home that is currently undergoing some renovation and remodeling. The exterior of the home is in need of some painting and siding repair. Interior is also in need of trim work and other minor carpentry items. The home offers a main floor living room, dining room, bedroom, hath and kitchen. The second floor offers two den areas and two b~rooms. It appear that the main floor has been remodeled and a main floor bedroom wail has ~ re, norad to create a formal dining room. Owner states that the roof on the home is ne~,er. Them are some signs of interior leakage, however, owner states that this happened before the new roof was installed. There is a well on the site that is currently not in use. Owner also indicates that there is a large buffed oil tank in the front yard. This appraisal is based on the oil tank being in tact and not leaking. Subject does suffer from some functional depreciation due to its access 'problems off of Bass Lake Road. This access will meet some buyer resistance. ADVERSE ENVIRONMENTAL CONDITIONS: There are no adverse enviwnmental conditions noted. The only hazardous condition noted would be if the oil tank in the yard is leaking. See attached cover letter. SALES COMPARISON COMbiF2qI~: As indicated in the neighborhood analysis, thesubject is located on the border of New Hope and Crystal. The appraiser has made an exhaustive search for 1.5 story homes within a one mile radius of the subject property. Unfortunately, due to the subject's location, the comparables are all located in Crystal. It should be noted that Cor~l is a very comparable neighborhood. It is in similar proy~mity to downtown Minneapolis and is also in the same proximity to family needs as well as located in the same school district. I found no location adjustm~ were required. The thre~ comparables have been applied to the Sales Comparison Analysis and adjusted for their differences. Major adjustments are as follows. Comparable #1 was adjusted upward for its smaller size and lack of a walk-out lower level. It was also adjusted upward for its lack of a fireplace. Downward adjustments were for superior bathroom count, as well as its superior functional utility with typical street access. It also had 2SS2 Atahony Lan~ Somh, Mim~apolis, Minno~m $5415 (612) 7~1-0605 Faa: 781-7826 BCL Appraisals, Inc. · Bjorklund, Carufel, Lachenmayer, Incorporated ~u~ ~qo. 95-0525-A SALES COMPARISON COMMEN~FS: (continued) a porch. Comparable ~2 was adjusted upward for its smaller site size as well as its slightly older age and inferior room count. It also did not have a walk-out basement or no basement stool. Upward adjustments were also for its smaller garage, lack of patio and no fireplace. Downward adjustment was for its stucco exterior and its better updated condition. It also had superior utility with access off of a typical residential street. Comparable//3 was adjusted upward for its smaller site size, room count and lack of a walk- out basement. It also did not have central air conditioning, and only had a one car garage. Downward adjustment was for its new updated decor with newer kitchen, its 612 square feet finished in the basement, its deck, fence and superior built-in feaUires that included a hot tub and sauna. The three comparables represent a cross section of 1.5 story homes that are located within the subject's competing neighborhood. Comparables have been adjusted consistently for their differences. These adjustments are based on the appraisers experience as well as paired sales. and physical exterior inspection of the comparables. Comparables indicate a tight range of value from $77,000 w $79,000. Indicated fair market value of $78,000 is well supported. CONDITIONS OF APPRAISAL: The subject has been appraised per the acceptable condition of the buried oil tank. If the tank is leaking and causing soil contamination, this appraisal w/Il be null and void. This is considered a summary appraisal report. 2852 At.may Lam .~amh, Minneapolis, Miamm~ 55418 (612) 781-060~ Fax: 781-7526 APPRAISER'S FIRREA ADDENDUM [. Unless otherwise indicated in this report, the date of this report is the same date as the date of the appraisal. 2, UnIess otherwise mdicated in this report, a financial institution intends to use this report to determine the market value of the subject for purposes of granting a federally related mortgage loan. 3. Unless otherwise indicated in this report, :he subject property's market value was based on the cash price, 4. Unless otherwise indicated in this report, all usual valuation approaches were utilized. 5, Unless otherwise indicated in this report, no extraordinary influences (e.g., easements, remnction, encumbrances, leases, reservations, covenants, 6. Unless otherwise indicated anti specifically itemized with a value estimate, no personal property, trade fixtures, or intangible items are included in the appraisal of the subject property. 7. Unless otherwise indicated in this report, the suhjact propose/is not currently listed for sale or subject to any sale agreemem or option. 8. Unless otherwise indicated in this report and specially itemized, according to public records, listing services and the homeowner, the subject property has not been transferred in the past 12 months. 9. Unless otherwise indicated in this report, the estimated marketing time for the subject property was determined from available data services and listing services. Unless otherwise indicated in this report, information from such data and listing services is believed to be reliable and w-as considered in the final reconciliation of market value. 10. Unless otherwise indicated in this report, the reasoning used to determine the selection of 'incr~gng'. 'stable', or 'declining' in the neighbo~oud section of current market conditions and trends of this report, was based on information provided by available data serviens and listing services. I I. Unless otherwise indicated in this report, this report is based on current land use regulations and the probability of modification of c~unent land usc regulations is unlikely. 12. Unless otherwise indicated in this report, the site value listed in the appraisal is determined as though the land is vacant and available for development to its highest invea~ment use and the appraisal of improvements is based. ~ thais actual contribution to the site. 13. Unless otherwise indicated in this report, the appraised value is not affected by anficipa _md, public or private improvements. 14. Unless otherwise indicated in ~ repo~ if proposed improvements were appraised the fnllowing were (and remare available to be) inspec~nd; Plans, specifications and related documentation to identify scope and character of improvements; evldeuce indicating probable time of compietio n: and clear and appropriate evidence supporting development costs, anticipated earnings, occupancy projections and anticipated competition on completion. 15. Unless otherwise indicalnd in this report, the subject property is not a fractional interest, physical .wdmenL component or partial bnlding of a property. 16. Unless otherwise indicated in this repsu~ infom'mion on mntel dam, operating expenses and gapils~zation w~ not obtained dee to the lack of reliable rental data for single family homes in ~ sobject property's naighboflmed. 17. Unless otherwise indicated in this report, thc subject property is not a leased fee et lease hold asteto. 18. Unless otherwise indicated in this report, the existence of haza~ons substances, including without limJsttion, asbestos, polychlorinnted bipbeuyis, petroleum leakage, or agricultural chaimcais, which may or may not be present on the property, or othar environmental conditions, were not called to the attention of not did tim appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of existence of such materials ou or in the property unless otherwise stated. It' the presence of such substances, such as asbestos, ur~a- fotmaldehyda, t'onn insolafintL et other hazardous substances et environmental conditions may affect ~ value of the property, the value estimaxed is pn~ctoti on t~ assumption that there is no sucl~ condition on or in the property or in such proximity thereto thnt it would cause a loss in value. 19. Unlese otberwi~ indicated in this report, no other limiting coalitions or extraordinar/assumptiona (ed'., peudL~ iea~, atypical financing, completion of improvements) tikect,q.t affect the appraisal or the analyses, opinlona, mt eoeclusion staled herein. 20. Additional certifnmtio~. Unless otherwise sated in this report, in accordance with ttm competen,'y provision of the Uniform Standards of Professional Appraisal Prectice, I have verified that my knowledge and experience are sufficient to allow me to competently complete this appraisal. I have no personal interest or bias with respect to the paniec involved or the subject property. C. TI~ apprai~ assigumem was not based on a mqnosmd minimum valuation, a speuifi~ val~atinn, or ~e approval of a loan. ;md my compensation is not contingent upon ditnction in value that favot~ the eouse of tim client, the amount of dm valua e..~nta~, il~ attah-uneut of a stipulated result or the occuntnco of a subsequent event. D. My analyses, opinions, nnd conclusions were developed, and this report h~ been pitched in coofonnity with Uniform Stendards of Profnssional Appraisal Practice. The dapanure provision et' the uniform Standan~ of Professinnal Appraisal Practice wns not unlizect in prapamJoe o£ this report. The report ~alyses, opinions and conolnsinn are limited only by the reported amnnptiom, limifin~ cond-'mona and are my personal. unbiased mudyses, opinions and conclusion. F. Unless otherwise sntod in ~ report, no one provided significant psufassinnal ~L~L~noe to me in the prelmratiou of this report. G. I certify ti~. to the best of my knowledge and belief, thc satomente contained in d~ report are mm and conecz. I certify timt on the dam of tho appraisal mpon! was actively licensed by the ~opropriate stale agunoy to perform the subject appraisal. Signatole of Appraiser ./ Date Signature of Review Appraiser Dato (if applicable) BCL Appraisals, Inc. Bjorklund, Carufel, Lachenmayer, Incorporated Filo ~o. 95-0525-A 2852 Amhony LaneSomh, Minn~polis, Minn~aoca $~418 (612) 781-06~ Fha: 781-7826 BCL Appraisals. tnc. B}orklund. Camfel, Lachenmayer, Incorporated SUBJECT PROPERTY PHOTO ADDENDUM :852 Anthony Lane South Minncapolis, Minnesota 55418 (612) 781-0605 Fax: 781-7826 F~I~ ~o. 95-0525-A FRONT VIEW OF SU 'ilIIiCT PROPFLRTY AT: 7621 Bass Lake Road New Hope, Mn 55428 Appt~.~d: May 24, 1995 Apprai~d V'alu~: $78,000 REAR VIEW OF SUIII1BCT PROPERTY BCL Appraisals, Inc. Bjorklund, Caru£el, Lachenmayer. Incorporaled COMPARABLE SALES PHOTO ADDENDUM z~s~ ^~ho~ t.a.e So~h Minnea~lis, Minnesota 55418 File So. 95-0526-~ COMI~ARABLE, SALE ,fl 6721 Corvallis Av~ Crystal/New Hopo Salo Dam: 8-94 Sala Pri~: $59,$00 5361 Pennsylvania New Hopo. $alo Da~: 2 -95 ~ Priae: $61,000 5942 ,l~rmy Ava Crystal 5al~ Da~: 3-9~ DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open man<et under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price ~s not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of t:tle from seller to buyer under conditions whereby: (t) buyer and seller are typically motivated; (:2) both parties are well reformed or we~l adwsea, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure ~n the open market; I4) payment is made in terms of cash in U.S. dollam or in terms of financial arrangements comparable thereto: and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions=. granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a marl(et area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGEN'r AND uMrriNG CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titl~ to it. The appraiser assumes that the title is good and marketable and. therefore, will not render any opinions about the title. The proped7 is appraised on the baS~s of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in ~ appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she mskes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrengemo~ts to do so have been made ~fore,haad. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributop/value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The ai~raiser has noted in the apl)raisai re~rt any adverse conditions (such as, needed repaY, depreciation, the presence of hazardous wastes, toxic substances, etc.) obaen~KI during the inspoction of the subject property or that he or she became aware of during the normal research involved in performing the al~raisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of ~e property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the prope~ mom or less valuable, and has assumed that there are no such conditions and makes no guarantees or wan'~ties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the of the properly. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she co¢*.~iders to be reliable and believes them to be true and correcL The appraiser does not assume responsibility for the accuracy of such items that were fumisbed by other parties. 8. The apg~iser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The aggraiaer has based his or her agpraisal report and valuation conclusion for an appraisal that is subject to satisfacto~/ completion, repairs, or alteratinos on the assumction that completion of the improvements will be performed, in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designatiens, and references to any professional appraisal organizations or the firm with which the appraiser is associated ) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of '2 Fannie Mae Form 1004B 6-93 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most simdar and to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property ~s superior to, or more favorable than. the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and l believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and pro~essional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owfle~s or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. T. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Beard of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have pe~onally irepected ltm interior and exterior areas of the subject property and the exterior of all properties listed as comparabtes in the appraisal reporL I further certify that I have noted any apparent or kno~m adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the prope~ value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject prope~/. 9. I personalty prepared all conclu~and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional as~stance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify ~at any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in lt~ report; therefore, if an L~dzed change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTI=lCATION= If a supervisory appraiser sig~ed the al~oraisat report, he or she certifies and agrees that: I directly supervise the ~praser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through T above, and am taking full responsibility for the appraisal and the appraisal report. ADORE$$ OF PROPERTY APPRAISE~ 7621 Baas Lake Road. New Hope, lin APPRAISER: ../ .~ / SUPERVISORY APPRAISER (only if required) Sig~aore: ~"--~- ~ . ,~ ,¢d¢~-~ -,,..,r..¢., ,_._ si~mm: Name: Ron Laohenamyer. SPA Name: Date Signed: Hay 24. 199;J Date Signed: State Certification #: CRRPA State Certification #: or State License #: #4000727 or State License #: State: Yet State: Expiration Date of Certification or License: 8-51-95 Expiration Date of Certification or License: [] Did [] Did Not Inspect Property Freddie Idac Fern1439 6-93 Page 2 of 2 Fannie Mae Form 10048 6-93 BJORKLUND, CARUFEL, LACHENMAYER, INC. BCL APPRAISALS, INC. 2852 ANTHONY LANE SOUTH, MINNEAPOLIS, MINNESOTA 55418 (612) 781-0605 Fax: 781-7826 BRAD BJORKLUND M^~ REAL ESTATE APPRAISERS AL CARUFEL ~^i & RON LACHENMAYER s~^ /~OPRAIS~ (~.~L_,--'b-~(~tx~-"X~ OF CONSULTANTS ~si~t~ ~r of ~ ~i~l I~titu~e ~TIFI~ ~ID~ ~ PROP~ State of ~ta ~p~iser ~c~ ~4000727 ~ ~ ~~ F~ ~iser-~2268 ~ ~ I~e~t F~ ~is~-~688 F~e ~e ~ ~ 1980, ~ ~r 1170136 G~t~ f~ ~ ~gh ~1, St. Pa~, 1973 ~t~ f~ ~ ~ty ~11~ of ~te ~ ~e ~ 1975 (~iate of ~s) ~ve ~ccessf~ly ~s~ ~ 101 Test ~ ~ccess~ly ~ ~ 102 T~C ~ccess~ ~leti~ ~ ac~pt~ce of ~~ti~ ~iety of Re~ ~tate ~se~. Resi~ti~ ~ ~are ~ ~ (~~t F~ ~~) ~ ~ ~ ~i~ti~ ~ J~, 1986 ~ ~t~ ~3cati~ ~s ~~ ~ tb~ ~iety of ~ ~tate ~s~ ~ ~ ~i~ ~titute. ~i~ ~titute ~ ~i~ ~lis ~ of ~~ ~iati~ of ~f~i~ Fo~ Bjo~, ~, ~~, ~. ~ ~, 1987 St~ ~1 ti~ ~s~ ~ ~y, 1978 ~ Fo~ ~~s, ~c. ~of ~ ~ f~~~~ ~ ~si~t~ ~ ~ ~ies ~w ~ ~ ~ti~ ~ ~s for ~ F~ ~ F~t ~lle ~ ~ of ~i~d ~t ~ ~ ~d C. ~t~ ~fer ~ St~ Title ~ty of ~1~ V~i~ ~~ ~11 City of ~lle ~t~le ~l~ti~ E.R.A. ~e ~e F.B.S. ~ Fi~li~ ~tt~ I.C.A. ~ ~1~ ~ty I~sto~ ~ L~ ~9e ~ller ~ ~tte ~ ~ ~ield ~ ~e ~t~ ~ ~ti~ ~tion MORE THAN 50 YF-4RS APPRAISAL EXPERIENCE BCL Appraisals, Inc. Bjorklund, Carufel, Lachenmayer, Incorporated May 24, 1995 City of New Hope 4401 Xylon Avenue North New Hope, Mn 55428 Attention: Kirk McDonald Attached is the appraisal completed on May 24, 1995 for the property at: 5559 Sumter Avenue North New Hope, Mn 55428 J. LaLiberte The estimate "Fair Market Value" as of May 24, 1995 is: Sixty-Two Thousand Dollars $62,000 No responsibility has been assumed for matters which are legal in nature, nor has any opinion on them been rendered other than assuming marketable title. Liens and encumbrances, if any, have been disregarded and the property was appraised as though free of indebtedness. In this appraisal assignmenL the existence of potentially hazardous material used in construction or maintenance of the building, such as the presence of urea-formaldehyde foam insulation, asbestos, and/or the existence of substances such as toxic waste or radon gas, and/or the existence of any other environmental influence that may adversely affect the value of the property, was not observed by me; nor do I have any knowledge of the existence of such materials/substances/influences on or in the property. The appraiser, however, is not qualified to detect such materials/substances/influences. The existence of urea-formaldehyde foam insulation, or other potentially hazardous material, or toxic waste or radon gas, may have effect on the value of the property. I urge the client to retain an expert in this field if desired. Please feel free to call if you have any questions. We appreciate your business. Sinc~rely, BCL Appraisals, Inc. 2852 Anthony ~ South, Mi~polis, Minncama $~418 (61:2) 781-0005 Fax: 781-7826 Property Description UNIFORM RESIDENTIAL APPRAISAL REPORT ~,e No. 95-0526-A ProperIyAddress 5559 Su~ter Avenue North cihy New Hope State ~ ZipCode55~28 Leqa~escn;tfonReR. Land Survey 97, Traot B Coun~Hennepin Assessor s Parcel No. 0~-118-Z1-~-0082 TaxYear 1~ RE. TaxesSB~3.00 SpecmalAssessmemsSNo~e Sorrower Current~ner J. LaL~be~te Occupant: [Z~ ~ner Prope~ nqhts m~ormised ~ Fee Simpte ~ t~msehold ) Prolect Type i. : PUD ~ Condominium (HUD~A only) HOAS Neighbo~oo~ or Pro}ec Name Map Reference ~0-2A Census Tract Sale Pace S N/A Date of Safe N/A ~scnp~on and S a~unt of Io~n cMrqes/concessions to ~ paid ~ seller Lender/CiientC[ty O~ New Hope A~dress~01 Xy[on Ave No, New Hope, ~ m AFpraiser Roe Laehen~ SRA Address 2852 ~thony Lane Soutl~ M[nneapo[[~ ~ 55418 Location ~U~,. ' ~Subuman ~Rurmi Predomin~t 'Slnglefa~lyhouslng ~tl~e% Built Up ~ ~er 75~ ~ 25-75~ ~ Under 25% occupancy PRICE ~J One family 7~ ~ Noi likely ~ Likely Growth rate ~ ~id ~ Stable ~ Slow ~ ~ner ~(~)~0 Low 20 2-4 family ~ ~ In process ~ Ma~etinq time LAj Un~r3~s. LJ 3-6 mos.v,cm,i(o~s~) 0 Note: Race ~d the r~lal composition of the nelg~oehood ~e not appCalsN factor~. Neighbomood~undmdesmndchmrmctoristics: ~e[Ah~hood ~un~ries cons[st o~ 62nd Ave H to the no~th, Boone Ave to the ~st. 4~th Ave N to the south and Ct~ Rd 81 to the east. Fmctore that mlfect the maAetmbili~ of the prodedies in the neighborhood (proxim ~ to employmen( and ameni ica. employment stmbili~ appeel to mmrkeL etc.): ~e Attached Addend. k~rkst conditions in the subject neighborhood (including support for the above conclusions related to the trend of prope~y values, demand/supply, and nlarketing time - - such as date on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.}: Supply and demand characteristics appear to be in balance. I did not observe any unusual number of homes currently on the market. Marketing time is under three months. Interest rates are at ?.5% to 8.25% with zero to three points beinlz typical. A],i ty~es of financing are available. 30 year mort;aRes are still the norm. Pr~j~-t Information fi- PUO~ (1! applicable) - - Is lhe develoder/builder in contel of the Home Ownere' Association (HOA)? {~ YES ~ NO Approximate total number of units in the subject project Appmximeta total number o! units tot: sale in the subject project . Describe common elements end recreational Mcilitieo: Dimensions 1 00 X 1 60 Corner Lot [] Yes [] No Topography Level Sits area 1..6.000 ,~J. Et. Sizs AveraRe s~cilic zoning classification end de~cr~tien R-1 Shade Rectangular Zoningcoml)ltoncl F~ILegM {~La~l~(Gmm~lmmduml) {~]ltlog~ [~Nozoning Ominlge AveraRe Hishest & best use as inmmved: ~ Present uae [] Other use (exctain) View Res talent ial/Apts Utaltlel Public Other Off-Mt® Imlm'oveme~t~ Typs Pub ic Private Landscaping Average as ~ Nat. C,~a ~ Cue/gutter Concrete Apparent easements None apparent Wller ~g SldewIIk Conc~'ete FEMA Spscill Flood Hlzlrd Ami [] Yes [] No ·Sanitary sewer ~ / Sleet lights Yes FEMA Zone C Map Delo 1-2-81 ~ Storm sswer A,w None FEMA Uen NO. 2'/0177-00018 Commenta (apparent sdveree ensements, eocroaohmlllta, speciM assessments, slide sress, illegal or legal nonconlorming zoning, usa, sac.): See Attached Addendum. GENERAL DESCRIPTION E~QR DESCRIFTION t FOUNDATION BASEMENT INSULATION NO. of Milo 1 Foundelien Con Block I S~sb ~O Ares Sd. FL 0 Roof No. of Slodee 1 ExlohorWells Aluminu~ I cm~m=Yes %Finished 0 Ceiling Cncl. Ty~ (Del./Alt) Detaohed Roof su~c. A=ph. Sh. I B~,ment NO Ceiti~ NO Wm~Ie Cn¢l. Design (Style) Ramble]- Guitars & ownsm. Adeq OvrhR )sunm Punm No Walls N'o Floor E,xisUng/Pm~eed Exis.tinR WindowTyde Dbl ~[u4qR Deepness None noted Floor No None Age (Yrs.) ~ Stom~/Screnna C0mb. settlement None noted Outside Early NO NO Info tat' I Nol~e noted I Dinino J K/toben ~ Den IFemiNRm~ ~ ~ AreiSu. Ft. Area 1 960 ~e 2 Rnished area above srade contains: 5 Rooms: ~ Bedroom( ~): 1 ]athis): 960 Sou ire Feet of Gross Livin~ Area INTERIOR M~torials/Cooditloo [ HEATING I KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE Walls Drv'~all/AvR [ Fuel N C~ Range/Oven Stairs Plaid Garage # of cars Trim/Finish Oak/Avera~ze I co~,Average I Disposal Dip Stair Deck Attached 2 Earn Floor T [ lc/Average I COOLING I Disl~vesher scume Porch ;3 Season Detached I~th Wainscot Tile/Average t Central ~ Fen/Hood Floor Fence Part [al Built-In O~m Pine-Fluah/AvR other None I Microwave Heated Pool Carport C..0n~~ Wasl~r/Orver Fini~h~ Driveway 2 Oft'St Ad~tional featureo (special ener~y efficient itams, etc.): See At~ached Addendum. Condition of the improvements, depreciation (physical. lunctionui, and external), repairs needed, quality pt construction, remodelingZadditions, et c.: See At~ached Addendum. 'Adverss environmental conditions (such ac. but not limited to. hazardous wastes, toxic sutistances, etc.) present in the improvements, on the site, or in the immediate vicinity, of the subject pmpedy: NO adverse environmental or hazardous condttions noted. See attached cover letter. ;r~i~ ~ F~r~ ~0 ~ PAGE 1 OF 2 F~nnie ~ F~m I0~ ~*~ V.luatlo~l Section UNIFORM RESIDENTIAL A~PRAISAL REPORT ........ F,, No 9~-0~26-A,, EST)MATED SITE VALUE = $ 2~000 I Comments on Cost Approach (such es. source ct cost eshmate. EST)MATED REPRODUCTION COST-NEW OF ~MPROVEMENTS: [ site value, square log( calculation and lot HUD. VA anq FmHA ~elling ~60 Sq. Ft. e $ ~0.00 ~ S .:. ~8~000 ~.est~matedremamningeconommcilfeoftheproDerty): ~:~Ft. eS ~' :'~ Cost figures have been obtained =hrou~h :orch - ~,000 the ~rshall Swift Cost Guide as well as ~m~/~, ~8~Sq. Ft. · S 1~.00 - 7,260 local sources. Sub~ect suffers from Toml Estimated Cost New ~ $ 59.260 external depreciation ~e to its proximity Less ~hysical Fu,ctionm External itc busy road. This results in an esti~ted ~mda~ 29% 0[ 10[ - S 23.000 ~10% loss in value. ~reciated Value cf Im~veme,ls. ' ~ 36,260 . See attached sketch for dimensions. 'As-is' Value of Site improvements = $ 1 , ~00 IND~AT~ VALUE BY COST APPROACH "~ 62,800 · Est i~ted re~inin~ life 35-~5 years: ITEM ~ SU~ECT COMPA~BLE NO. 1 COMPA~BLE NO. 2 COMPA~BLE NO. 3 5559 S~ter Avenue North 6721 Corvallis Ave 5361 Pennsylvania 59q2 Jersey Ave ~ressNew Hooe Crystal/New Hope New Hope Crystal Pmximi~ lo Subject 1 Mile South 6 Blocks South 8 Blocks Northeast SalesPfice $ S ~9,~00 ::~ S 61,000 ~:::' : S 68,000 De. and/or ~5 23 ~yS-Cty Cls8 ~ 61 ~yS-Cty els8 ~ 19 Days-Cry Cls~ Ved~cationSourcea Inspection Ree/Clsd 8-31-~ Eec/Clad 2-1a-95 Eec/Clad 3-31-95 v~~ DESC~ION D~CRIPTI~ ~ -(-)s~ D~CRIPTION ~ .(-)s~ DESCRIPTION Sniff or Fina,cing VA Assr-FHA : FHA Concessions 0 Points ; ~0k ~11% 0 Points Loc,tic, Neap Bs7 St Sup NRhbPhd : -6,000 Sup NKhb~hd ; -6,000 Sup NKhbPhd : -6,~00 ~~ Fee Fee Fee Fee Site 100~160/C~nP '0x128 : +3,000 88x125 : +3,000 60x135 : +3,000 View Resid/~ol ~esid/Sup : -1,000 PaPk/~hool ~ -Z,000 Eesid/Sup ; -1,000 ~~ Av~/AI~. ~kes : +1,000 S~kes : +1,000 ~sonite : +1,000 Condition A~od ~ Kitchen ~ -3,000 Average, +3,000 ~od ; -3,000 emasuvi,,A~, ~60Sq. F[ 768Sq. Ft. ~ +~,000 9Z0S%R. ~ 1,071Sq. Ft. ~ -2,500 ~,~Gm~ Crawl ~ce Crawl S~ce : Crawl S~ce [ Crawl S~ce : F~..al UalIN Ave~Re AvePa~e : AvePaKe AvePa~e ~~ None None ; None ; None ~r=h, Paa.,~ck. Po~ch,Patio None .1,000 None : +1,000 Deck : *500 R~.mce(s).etc No FiPep~ce No Fi~ep~ce : No FiPep~ce ', No FiPeplace Fe.ce. P~.I. etc. P~tl Fence None None Fence : -~00 F~tu~es None ~one : None ; Appliances : -~00 Com~nts on Sniff Compadaon (tnclu~ng ~ s~ pm~'a compltibili~ lo the neighbo~ood, etc. ): See A~=aeh~ Addend, I~ SU~ECT COMPA~BLE ~. 1 CO~BLE ~. 2 COMPA~BLE ~. Pdce and ~ ~Mrp~ ~O R~o~d ~o Record ~o Record ~o Reeo~d ~e Attached A~en~. GAT~ VAL~ BY SALES CO~SON APPROACH ........... S 62,000 ~of~m~ The sub,i~[ has ~en appraised "~ la", This is considered a s~7 apprai~l R~l~con~liati~Co3~ App~ch S62~800 ~[es Con. tisch ~a[y~is S62v000. income App~ch ~s no[ ~e[iab[e ~cause o~ [iai[ed ~rkeC renan[ ~ o~ sing[e f~i[y homes. The ~les Con. tisch ~alysis ~s oroven to ~ the most reliable indicator of ~lue. AP~ ~ .~." S~ERVISORT APP~ISER (O.Y · REO~D): hm Rom ~ehen~yer, ~EA / Na~ Inspect Prope~ h~ ~flSi~d ~y 24, 199~ Date ~podSigned S~M Ce~fi~flon ~ CRRPA S~te ~ State CeAificafion ~ S~te OrS~te ~cense ~ ~Q0007~7 S~te ~ Or State Ucense ~ state Fr~F~ ~ ~ PAGE 2 ~ 2 Fafln~ ~ F~ 1~ 9JOR~, CARUFEL, LA~E~YER ~ ZXC. BCL Appraisals, Inc. Bjorklund, Carufel, Lachenmayer, Incorporated Fil~ No. 95-0526-A NEIGHBORHOOD FACTORS THAT AFFECT MARKETABILITY: The subject is located in New Hope. This western suburb of Minneapolis is full)' developed and represents the secondary growth ring of the western metro area. The subject hes very near the New Hope/Crystal border. The neighborhood is primarily blue collar with most residents working in downtown Minneapolis or western suburbs. The neighborhood consists primarily of one story homes that are well maintained. The neighborhood is convenient to elementary and secondary schools as well as recreational facilities, shopping and good freeway access. Downtown Minneapolis is a 20 minute drive. SITE COMMENTS: The subject is located on the corner of Sumter Avenue and Bass Lake Road. Bass Lake Road is to the north and is a traffic artery. The site is generally level anti faces east. No adverse easements or encroachments were noted. ADDITIONAL FEATURES: Additional features include three season porch, and a partial wood fence. Freestanding appliances have been checked for information only and are not included in the appraised value. There is a well on the property that is currently being used for watering the lawn. CONDITION OF THE IMI~OVF~S: The subject is a one story rambler design home that is in overall average condition. It was occupied for the past 43 years by the original owner. The owner has recently passed away. The home is in good, clean condition, however, the decorating is dated. The bathroom wainscoting is deteriorated and tile work is needed. Home offers living room, kitchen with dining area, three bedrooms and a bath. There is a breezeway and attached double garage. There is no basement, crawl space only. Home has been appraised "Az is". It suffers from some external depreciation due to its proximity to Bass Lake Road, which is a traffic artery. SALES COMPARISON COMMENTS: As indicated in the attached addenda, the subject is located very close to the border of Crystal and New Hope. The three comparables chosen represent the best comparables available over the past 12 months. All are within one mile of the subject and all are similar one story homes with no basement. Comparables have been applied to the Sales Comparison Analysis and adjusted for their differences. Major adjustments are as follows. Comparable #I was adjusted downward approximately 10% for i~ supe .flor 1 .ocati.on on a quiet. residential street. It also had a superior wew versus the subject s resieentia~ ano commercia~ view. It had an updated newer kitchen. Upward adjustments were for its smaller site size, inferior room count, square footage, one car garage and no porch. Comparable F2 was also adjusted downward approximately I0% for its superior location. It was also located across the street from the school and park. It also h.ad centre. 1 air conditioning. Upward adjustment was for its smaller site size, and inferior condition. Th~s comparable was in need of repair due to the fact it was rented. It was also adjusted upward for its one car garage and lack of a porch. Comparable #3 was also adjusted upward 10% for_ its supen.'or loc.ati.on. D.o..w. nw. ard adjustments were for its superior condition, larger square footage aha centra! mr eonmuomng. It also had a fully fenced backyard versus the subject's partial fence. Downward adjustment was also given for built-in appliances. Upward adjustment was for its smaller site size, inferior room count, one ear garage and a deck versus the subject's porch. The three comparables have been adjusted consistently.. T~.e .adjust.men~ are b.ased on~ .t.he appraisers experience as well as paired sales ana physical exterior mspecuon ot me comparables. The eomparables indicate a tight range of value, from, $59.,5.09.to~$~6.3,000.; Based on all the information gathered, the indicated fair mariner vmue ot ~oz,~ou LS wen supported. 28S2 Anthony Lam .~mth, Miaa~polis, Minn~om $.$418 (612) 781-0605 Fax: 781-7826 BCL Appraisals, Inc. Bjorklund, Carufel, Lachenmayer, Incorporated ~i~ No. 95-0526-A SAI.F-g COMPARISON ANALYSIS OF CURRENT AGREEMENTS OR PRIOR SALES: The subject is currently on the market for $64,000. It has been on the market for approximately three months and the listing price was recently dropped from $69,000 to $64,000. There is no record of the comparables being sold over the past 12 months other than the sales mentioned above. Comparable//2 is currently back on the market after total rehab for $79,900. 28~2 Anthony Lam South, Mirw~apolia, Mim~sma $$415 (612) 781-060~ Fax: 781-7826 APPRAISER'S FIRREA ADDENDUM 1. Unless other~vise thdica~ed in Ibis report, the dale of this rcpnr~ is the same date as fl~e dale of ~ appaisal. 2. Unless o~e~ise indicated in ~is repo~, a financial institution intends to use ~is report to dete~ine ~e market value of ~e subject prope~ for pu~ose~ of g~ming a fede~lly related mortgage loan. 3. Unless o~e~ise indicated in ~is report, ~e subject prope~'s market value was based on ae cash price. 4. Unless o~e~ise indicated in ~is repoa, all u~al valuation approaches were utilized. 5. Unless oae~ise indicated in ~is ~n, no ext~o~i~ influences (e.g., easement, ms,fiction, encumbrances, [elI~l, ~le~ationl, cove~nts. 6. Unless o~e~ise indicated ~nd specifically itemized wi~ a value estimate, no ~nal pm~, trade fixings, or in~ngible ite~ a~ included in ~e appnisal of ~c subject pro~. 7. Unless o~c~ise indicated in ~is rein. ~e subject pmpe~ is nm cur~ntly tisted for sale or subject to any sale ag~ement or option. 8. Unless o~c~isc indicated in this ~pon and specially itemized, scenting ~o public mco~s, listing settees and ~e homeowner. ~e subject prope~ has not been transferred in ~e past 12 monks. 9. Unless o~e~ise i~icamd in ~is rc~n, ~c csti~ ~rkcting time for ~c ~bject pm~ w~ dcm~in~ tram available dam se~icgs and listing settees. Unless o~e~ise i~icatcd in this ~n, info.arSon from such dam ~ [i~ng se~i~ ~ ~lieved to be ~l~le a~ wa~ co~ide~d in ~ fi~ re~nc~ou of ~t vflue. 10. Unic~ o~e~isc i~icated in ~is ~n. ~e ~a~ning us~ to dete~ine ~e selection of "inching'. "stable'. or "declining' in neigh~o~ section of cu~nt ~rket conditions ~ trends of ~is ~. w~ based on info~afion provided by available da~ so,ices listing se~ices. 11. Unless o~e~i~ i~icagd in ~is g~n. ~is ~n is based on ~nt [a~ use ~gulafiom a~ use mgulatiom is unlikely. 12. Unless o~emi~ indicamd in this ~n. ~e sim value listed in ~e appmiml is dete~in~ ~ ~ough ~e la~ is vacant a~ available for developmem to i~ highest inves~em ~ a~ ~ ~1 of ~p~ve~n~ ~ ~d on 13. Unle~ o~e~ise indicated in ~is ~n, ~e applied value is not affected by anticipa~ pubfic or pfiva~ impmve~n~. 14. Unless o~e~i~ indieat~ in ~is m~n, if pm~ i~ wm a~ ~e followi~ ~ (a~ ~ av~ble m ~) i~r~; Plans, s~ificatiom a~ misted documentation to ~enfi~ go~ ~ character of improvement; evide~e i~ieating pm~ble time of ~mpiefion; and clear a~ appmpdam evidenc~ repining develop~nt costa, ~tgipat~ ~mings, ~cupa~y pmj~fiom ~ ~ticipa~ ~m~tifion on completion. 15. U~ess o~e~ise i~icated in ~is m~n, ~e mbj~t pm~ is not a f~etio~l inmmst, physic[ mg~nt, com~nt or paffi~ hold~g of a pm~. 16. Unle~ o~e~ig i~icat~ in ~is ~R, infom~on on mn~ dam. o~m~ng ex~ ~ ~n ~ ~ o~ due m ~ l~k of rel~le ~ dam for single famRy ho~s in ~e subject pm~'s heightenS. Unle~ o~e~ise indicated in ~is m~n, ~e ~bject pm~ is not a leased tee ot leam hold esmm. 18. Unless o~e~ise i~i~ in ~is m~n, ~e ex~te~e of h~ous subsm~es, including wi~out limim~on, ~gos, ~lyehlofi~t~ biphenyls, petmi~m I~ge, or ~cul~l ~mi~ls, wh~ my or ~y not ~ pggnt on the pm~. or o~et environmental co~itiom, wem not called mae aiten~n of ~r d~ ~e a~mi~ ~o~ a~ of tach du~ng the app~igr's inca. ~e a~t h~ ~ k~wl~ge of existe~e of su~ ~te~als on or in ~e pm~ unle~ o~e~ig smt~. If ~ pm~ of tach mbs~ tach as M~gos, u~- to~ald~yde, fo~ i~tion, or o~er ~s mbs~s or envimn~nal eo~ifiom my affgt ~ value of ~e pm~, ~e value esfi~t~ is p~g~ on ~e ~mpfion ~t ~em is ~ m~ co~ition on or ~ ~ pm~ ot a loss in value. 19. Unle~ o~e~i~ i~ga~ in ~ m~, ~ o~r liming eo~i~m or ex~o~ ~m~m (e.l.. ~ing 1~. a~pi~ f~ing, 20. Addifio~ ~ffif~m: A. Unle~ o~e~ sm~ in ~is m~n, in accolade wi~ ~e com~te~y provision of ~e Unifo~ $m~l~s of Pmfe~iomt Appnisat Practice, I have verifi~ ~at my ~nowl~ge a~ ex. fiche am su~c~nt m ~low me m co~gn~y complete ~is appmi~. B. I have ~ ~n~ inmost or bias with gs~ct m the panics involved or ~e mbject pm~. ~e appm~t a~g~m w~ ~ ~ on a m~ minimum v~uation, a s~gWg ~oa, or ~e approval of I loan, a~ my compaction is not coming~t u~n di~n in value ~ll favo~ ~e eaug of ~e client, ~e ~ of ~e val~ ~m, ~ a~i~nt of a sti~lat~ ~sult or ~e ~e of a subgquent event. D. My a~ygs, opinions, a~ collusions were develop, a~ ~is m~n ~ ~en pm~ ~ confo~ wi~ Unifo~ S~s of Pmfess~ml Appmiml P~fice. ~e de~ pmvi~n of ~ u~to~ S~a~s of ~f~ A~ ~ w~ ~ u~ in p~n of ~is ~m E. ~e ~n amly~, opi~om ~ ~nclus~n ~ limit~ o~y ~ ~e ~ ~mp~m, l~l co~i~m ~ am my ~m~l, unbia~ ~lyses, opium ~ co~lus~n. F. Unle~ o~e~ig smt~ in ~ m~ no o~ pmv~ signifier pmte~io~ ~is~ H. I eenity ~g on ~e ~m of ~e appel m~n I was actively lieen~ ~ ~ I~mpme ~ sge~ ~ ~ffo~ ~ mbj~t a~i~l. Sig~mm 6t A~r ~ Da~ Signature of Review Appraiser Date (if applicable) BCL Appraisals, Inc. Bjorklund, Carut'el, Lachenmayer, Incorporated File No. 95-0526-A 22' Garage 12' Patio Breezeway 1 ' 9' _.Bath Bed Utility Kitchen Room Room Dinette 2~ · 2~' Bed ~ Bed Living Room Room Room 'I -I 40' Living First Floor 960 First Floor 40 x 24 x 1 = 960 Garage 22 x 22 x i = 484 2852 Anthony L~rm South, Minneapolis, Minnesota 55418 (612) 781-0605 Fax: 781-7826 BCL Appraisals, Inc. B)orklund, Cam£cl, Lachcnmayer, [ncorporat ',xl SUBJECT PROPERTY PHOTO ADDENDUM 2852 Anthony Lane South Minneapolis, Minnesota 55418 (612) 781-0605 Fax: 781-7826 FRONT ~ OF SU .Bt-gJgT PRO 'PFJtTY AT:. 5559 Sumtcr Avcnuc North New }'Iop~, Mn 55428 Attnai.n~: May 24, 1995 Aplnai.n~ Val~: $62,0~0 · REAR VIL~W OF SUBJF. CT PROPERTY BCL Appraisals, Inc. Bjorklund, Camfel, Lachenm&yer, Incorporated SUBJECT PROPERTY PHOTO ADDENDUM ~ss2 A.tho.y ~.~ So.th Minneapolis, Minnesota 55418 : _ : (612) 781-0605 Fax: 781-7526 IFi~ No. 95-0526-A GARAGE It STREL*T ~ FACING WEST-~ LAKE RD BCL Appraisals, [nc, B~orklund, Cam£el, Lach¢nm&yer, [ncorpora[cd COMPARABLE SALES PHOTO ADDE~ 2ss2 Amhony ~ne South Minnea~lis, Minnesota 55418 (612) 781-0605 Fax: 7~1-7826 Fil~ No. 95-0526-A ~I~ARABI~ SAI~ #I 6721 Corvallis Ave Crysml/N~w HOl~ ~ I~1~: 8-94 ~ l~ie~: $$9,$00 5361 Pennsylvania Now Hope ~ Dal~: 2-95 ~ i~iee: $61,000 5942 .lcrsoy Ave Sa~ De~: 3-95 Sale erloo: $68,000 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and caen ma~e~ under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the ;rtce affected by undue stimulus, implicit in this definition is the consummation of a sale as of a specified date and the passing of seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well adv~seC. and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) paymen,, is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions= granted by anyone associated with the sale. · Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjus~ents are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF UMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND UMITING CONDITIONS: The appraiser's codification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate _dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject properly or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that de exist or for a~y engi~a~,in~ or testing that might be required te discover whether such conditions exisL Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the properly. 7'. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfacto~/ completion. repairs, or alterations on the assumption ~ completion of the improvements will be performed in a workmanlike manner. 10. The appraiser most provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated ) to anyone other than the borrower: the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page I of 2 Fannie Mae Form 1004B 6-93 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1, 1 have researched the subject market area and have selected a minimum of three recent sales of properties most similar and to the subject property for consideration ~n the sales comparison analys~s and have made a dollar adjustment when appropriate ~o reflect market reaction to those items of significant variation. If a significant item ~n a comparable property is superior to, or more favorat~le than. the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and. if a significant item rna comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparsple. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and l believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated in the sppraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex. handicap, familial status, or national origin of either the prospective o~ners or occupar~ of the s',~oject pr~erty or of the present owner~ or occ~mts of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to spprove a specific mortgage loan. T. I performed this sppraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the naigt~orhood section of this report, u~less I have othe~vise stated in the reconciliation section. 8. I have personally inspected the interior and exterior areas of the subject I~"operty and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or know~ adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse c~ditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the sppraisal or the preparation of the appraisal report. I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not suthodzed anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervise~/appraiser signed the sppraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the sppraisai report, agree with the statements axl conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal ancI the appraisal report. ADDRESSOFPROPERTYAPPRALSEI~._ 5559 Sumter- Avenue North. New Hope. ~ 55428 APPRAISER: / SUPERVISORY APPRAISER (only if required) Signature: /7~,- / '~*~'~ Signature: Name: Ron Lachenaayer.'JSRA Name: Date Signed: Ma,/ 2~1. 1995 Date Signed: State Certification #: (~RRI)A State Certification #: or State License #: #40007~7 or State License #: State: Mrl State: Expiration Date of Certification or License: 8-~ 1-95 Expiration Date of Certification or License: [] Did [] Did Not Inspect Property Freddie Mac Form 439 6-93 Page 2 of 2 Far, ia Uae Form 1004B 6-93' BJORKLUND, CARUFEL, LACHENMAYER, INC. BCL APPRAISALS, INC. 2852 ANTHONY LANE SOUTH, MINNEAPOLIS, MINNESOTA 55418 (612) 781-0605 Fax: 781-7826 BRAD BJORKLUND M^Z REAL ESTATE APPRAISERS AL CARUFEL M^t & RON LACHENMAYER sR^ APPR.'~LT.~X[~3 ~C/kT'XCIqI5 OF CONSULTA~ ~C.~, ~si~ ~r of the ~i~ I~titute ~TIF~ State of ~e~ta ~ser ~c~e ~4000727 ~ ~ Inde~d~t F~ ~ser-~2268 ~ ~ ~~t F~ ~~-~688 F~e ~e ~p~ ~ 1980, ~ ~r 1170136 ~t~ fr~ ~et~ ~h ~I, St. Pa~, i973 ~t~ f~ ~ ~ty ~11~ of ~te ~ ~e ~ 1975 (~iate of ~s) ~ ~ccessf~ly ~s~ ~ 101 Test ~ ~ccessf~ly ~ ~ 102 Test ~ccessf~ ~letion ~d accept~ce of d~t~tion a~i~ ~ the ~ieKy of ~ ~te ~is~s. Resi~tial Real ~tate ~i~ ~se (Inde~d~t F~ ~ise~) ~ the ~ ~si~tion ~ J~, 1986 ~y ~nt~ ~tion ~s ~~ ~ t~ ~iety of ~ ~tate ~s~s ~ ~ ~~ I~titute. ~ of ~ ~te of ~ ~nt~ ~ti~ p~ of the ~i~ ~titute. ~i~ ~titute ~ ~si~tion ~1~ ~ of ~ta ~iati~ of ~f~si~ Fo~ Bjor~, ~el, ~~r, ~c. ~ ~to~, 1987 St~ f~l t~ ~s~ ~ ~y, 1978 ~ Fo~ ~~s, ~c. ~ a~s. ~ OF ~~ ~si~ti~ ~ ~ ~ies ~w ~ ~ ~ti~ ~ ~s for ~ F~ ~ Ci~ of ~ield ~t~ ~f~ ~ St~ ~tle ~1~ ~ ~ters ~ty of ~1~ V~l~ ~~ ~11 ~ty of ~ille ~t~le ~l~ti~ E.R.A. ~e ~ F.B.S. ~tt~ I.C.A. L~ ~ge ~11~ ~ette ~ ~ ~ ~t~ ~ ~t~ ~l~tion ~1~ F~i~ MORE THAN 50 YEARS APPRAISAL EXPERIENCE 'i EDA REQUEST FOR ACTION Originating Department Approved for Agenda Agenda Section City Manager EDA 6-12-95 Kirk McDonald /~"~ Item No. By: Management Assistant By:/~B~TAI 5 MOTION AUTHORIZING STAFF TO N APPRAISALS ON TWO ADDITIONAL PROPERTIES (7609 BASS LAKE ROAD AND 5520 SUMTER AVENUE NORTH) FOR BASS LAKE ROAD EXTENSION HOUSING REDEVELOPMENT PROJECT (IMPROVEMENT PROJECT NO. 541) At the May 8th Council meeting, the City Council and staff discussed potential housing redevelopment options in the Bass Lake Road Extension area. Staff indicated that properties would be acquired on a voluntary, willing-seller basis. Staff also indicated that two property owners (7621 Bass Lake Road and 5559 Sumter Avenue) had already contacted the City and were interested in the City purchasing their properties and the Council authorized staff to proceed with appraisals on those two properties. Subsequent to that Council meeting, two~ additional property owners have contacted the City and indicated that they may be interested in a voluntary sale. One property (7609 Bass Lake Road) is located within the project area and one property is located directly adjacent to the project area (5520 Sumter Avenue) and could easily be incorporated into the redevelopment plan. Staff indicated to the property owners that we would inform the Council/EDA of their interest in selling to the City and inquire as to whether the Council/EDA also wanted to authorize appraisals on these two properties. Estimated cost of the appraisals is $350.00 per property and would be funded out of pooled TIF redevelopment funds. If the EDA is interested in pursuing the acquisition of these two properties, staff recommends approval of a motion authorizing staff to obtain appraisals on the two additional properties (7609 Bass Lake Road and 5520 Sumter Avenue North). TO: // Review: Administration: Finance: RFA-O01 ~ ' BASS LAKE ROAD HOUSING DEVELOPMENT ADDRESS/PID OWNER/TAXPAYER ASSESSED VALUE 05-118 -21-33-0028 NH Alano Group, Inc. Land: -0- 7615 Bass Lake Road Bldg: -0- 1. 05-118-21-33-0088 M. Hilgers Land: 19,500 7605 Bass Lake Road Bldg: 33,000 2//~ 05-118-21-33-0089 Bank of Am. Trustee Land: 22,600 ~ 7609 Bass Lake Road Taxp: Ronald/Sharie Huebner Bldg: 45,000 r . 05-118-21-33-0023 Beatrice Dolan Land: 21,500 7643 Bass Lake Road Bldg: 49,000 4. 05-118-21-33-0091 Timothy/Lois White Land: 21,500 7601 Bass Lake Road Bldg: 59,000 5. 05-118-21-33-0087 Kenneth Kunze Land: 21,000 7603 Bass Lake Road Bldg: 3~,000 6. 05-118-21-33-0027 Jerome/Karla McBrady Land: 21,500 7621 Bass Lake Road Bldg: 56,000 05-118-21-33-0094 Roy Edison Land: 21,500 7608 55th Ave. N. Bldg: 78,000 05-118-21-33-0095 M. & B. Drenth Land: 21,500 7616 55th Ave. N. Bldg: 80,000 05-118-21-33-0096 Lowell Buss Land: 21,500 7624 55th Ave. N. Bldg: 76,000 05-118-21-33-0097 Arlene Peterson Land: 21,500 7700 55th Ave. N. Bldg: 70,000 05-118-21-33-0098 Dana Dempsey Land: 21,500 7708 55th Ave. N. Bldg: 60,000 05 - 118-21-33-0082 J. LaLiberte Land: 21,500 5559 Sumter Ave. N. Bldg: 42,000 05-118-21-33-0022 Betty Dejno Land: 21,500 5537 Sumter Ave. N. Bldg: 47,000 Exhibit E BASS LAKE ROAD HOUSENG DEVELOPMENT ADDRESS/PID OWNER/TAXPAYER ASSF_SSD VALUE 05-118-21-33-0026 Gerald/Elaine Hanle Land: 22,500 5531 Sumter Ave. N. Bldg: 52,000 05-118-21-33-0084 Tammy/Rome Kessler Land: 21,500 5519 Sumter Ave. N. Bldg: 47,000 05-118-21-33-0086 Kenneth Descant Land: 21,500 5509 Sumter Ave. N. Bldg: 55,000 05-118-21-33-0030 Ernest Opheim Land: 21,500 5501 Sumter Ave. N. Bldg: 44,000 05-118-21-33-0099 Jmes/Pamela Schilling Land: 21,500 5510 Sumter Ave. N. 15195 Edgewater Circle Bldg: 33,000 Prior Lake 55372 ""~ 05-118-21-33-0085 Patrick Olek Land: 20,500 ~ 5520 Sumter Ave. N. Bldg: 45,000 J--· 7. 05-118-21-33-0029 Douglas Hodgeman Land: 22,500 5530 Sumter Ave. N. Bldg: 39,000 8. 05-118-21-33-0024 John Dore Land: 21,500. 5538 Sumter Ave. N. Bldg: 47,000 9. 05-118-21-33-0025 Luverne Peterson Land: .19,500 5546 Sumter Ave. N. Bldg: 52,000 Total all properties assessed value $1,612,600 Total 9 properties in minimum project $ 605,100 Exhibit E EDA R.EQ~T FOR ACTION Originating Department Approved for Agenda Agenda Section City Manager EDA 6-12-95 Kirk McDonald ,.F~h Item No. By: Management Assistant By:// 6 ? MOTION APPROVING PARTICIPATION IN PHASE II OF THE COMMUNITY PARTNERS BUSINESS RETENTION PROGRAM For the past 1-1/2 years, New Hope has participated with the cities of Brooklyn Park, Brooklyn Center, and Blaine in the Community Parmers Business Retention Program sponsored by the North Metro Mayors Association. The first phase of the program surveyed all industrial/commercial/retail businesses in the City regarding their needs and expectations. At the last Commission meeting, a motion was passed to transition the Community Partners Program into the Phase II stage. This six month phase will begin July 1st and will involve prioritizing recommendations, developing specific action plans, and maintenance/updating of the data base. The cost for the City to participate is $4,230.00 and is included in the 1995 EDA Budget. Staff recommends approval of a motion approving participation in Phase II of the Community Partners Business Retention Program. MOTION BY ~~ SECOND BY TO: Review: Administration: Finance: RFA-O01 CITY 6301 SHINGLE CREEK PARKWAY OF B ROOK 1'~ Y N BROOKLYN CENTER, MINNESOTA 55430 TELEPHONE: 569-3300 C ]~NT~g FAX: 569-3494 EMERGENCY-POLICE-FIRE 911 May 30, 1995 Mr. Dan Donahue City of New Hope 4401 Xylon Avenue North New Hope, MN 55428 Dear Mr. Donahue: At the last Commission meeting a motion Was passed to transition Community Partners into the next stage - Phase II. The six-month phase will begin July 1, 1995. The components, discussed at the meeting, are detailed on the attached sheet. Attached please fred an invoice for your communities involvement in Phase II. Sincerely, and Development Commission Enclosures CITY 6301 SHINGLE CREEK PARKWAY BOF BROOKLYN CENTER, MINNESOTA 55430 ROOKLYN ~'~.~;,.o.~: ~-a~oo ENT ER ~^x: 569-3494 ~M~.~.c~'- ;,o.~c~- ~=,.~ 911 INVOICE May 30, 1995 Mr. Dan Donahue City of New Hope 4401 Xylon Avenue North New Hope, MN 55428 Community Partners Phase II $4,230.00 Please direct payment to: Mr. Tim Johnson City of Brooklyn Center 6301 Shingle Creek Parkway Brooklyn Center, MN 55430 Community. ' Resource Partnerships, Inc. ' Community Resource Partnerships, Inc. PROPOSAL -' :- - -. Com~'unity partners " -'" Phase H' :_ ' - April 7, 1 5 . ' Community Resource Partnerships, InC. (CRP) and the Working Group have been'discussing the :design and structure of Community'-partners' 1995 Phase II program. The following Phase II ~ -. program .is recommended to begin July. i st and .cont_inue_through December 1995.' -.,::.:..:~..." .'-':- "' ':. 1.- Final Reoort:Recommendatio~:a~idActiOn l~ians .' : ': ' ' "' - '- ..: .:!.:- ..... r.i.. '"' CRP will ~ork with'the CommlsSi0n to priorifiz~ the'{e~ommendatfohs of the. Final '~' . -- . . . ._ ' Report-and develop specific action plans ~ir'imP!ementation in 1996-1997. This will ': include an examination of the variou~ recommendations; prioritization; additional - : . . -. - ':-" research, creation and.development of natural alliances,, and.formationofbudgets to - ' "-~' .' '- more. specifichlly address issties evolx/~d f}6m the stlrv~y process and.to' monitor change ': - ' ...... withinthe business c0rnm~ty~-.: .... - : -.-' .- ~ .--" '- - -;:,'- ._.:].' ;[,i...: .'!..: :.' ,: ',:[..il.' - -.. - - :- '" - 2.- 'Daa Base Maiiifenance .- "".." :':: '- -. -'. ' ' ' ' "- - ' "_ ' - 'It is i'ecommendedthat th~ ~Xisfing data baSe.be maintained and updated .by CRP Via a ' telephonic survey effort.· This Wilt entail seeking confumi~tion and/or correctibn to the .. 'existing data and allow for a limited number of additional f0.11ow-on questions( Initially, ' -, approximately 15% of the previously surveYed businesses will be:polled based _ona · . .: prioritizationiranking..(Qu~stions to be detennined) '-, Phase I de~i/onstr'~ted-that busine~§e~ are constantly in'flux. With_change. sin ownersilip--_ - .:.. and manag~mem, relocations', expanlsions,'etc. By:Carefully m6nitoring these-changes -.... and the related needs of the busines~.~om.munitY;.cities. can pro-actiy.ely .help to maintain '- the long-term health and Vitality of the local'business climat&.. This eommi'tment Will . help ensure'a strong growing bUSiness base that continues to provide j obs,.tax, base and services in the community. ~ -. - - . - ._: .-.. 'I;he g6als ofthis comp°nenrare as follo~w~i-- .... . . . ...- . . · . verify existing data and update where neces_sary, - - · collect limited, highly selective additional information, · monitor need for effective intervention/referrals, : · ' gauge overall business climate. :. .,~' '8525 Edinbrook Crossing Suite 5 Brooklyn Park, MN 55443 612/493-5373 . :.. 612/424-1174 Fax · In addition, special attention will be given tO new businesses entering the area. As new -. i .-.~ ~- ~ "' · .companies are identified, CRP will. sU!TV~ _ey in'the'originalmanner-.mailing. Part I and . ' "' ' ' Completing.part II in-person~,. TiffS'information Willbe'added to the data ba~e information. "~": ~" :' '"'" '~ system. Onc~ ~ompleted, the'se compardes Will be mohitored as a~e'all'others. -: - -' ':- - i . Als0, CRP recommends .monitorin~ companies which have lef~ the ~ommtmity to better.. Understand their reasons for mobility out of the area. ~Questions t° .be determined) .'~ '"" 3. Tminin~Services -' ': : - .... ' -. -- .... - -- - .'. ~.._,i.. "'.....- ' CRP will become the coordi~aating entity io'.e¢°lVea I~1an for addre'.ssing the training:i.'i. -...... · .-....-~: ..... , needs of the'busiiaess' c°mmunity..,.'This iwill:require Wo. rki~g-'~th:-decision'mak~s ff0m .' ....... -;.....- ·. . ... .. the:community, and techrfi~'eal eq!Ieges'as well 'as 0 .the~ ~g entifie:s, to.achievk' ~ . ...~ -.. .'agreedup6ng0al(s)'i .::'.....~; ,.. :".--:. :. :.:'...-..~-: :..,,..._.~.. .-.'.,'.:...:./ · .....,: .: 4.' ,.:' ' '"'4. ¢[eariil~LHouse'fo~ Business L'&ation. ahd Exnansi6n' C/o~orttmifieS'-':'-_ _ .... ~ . . . .- ::'~::?.'J":::".':.';~.~': i:: ~,..''::-! ":" ':.i CRP will develop a methodology for cities t°.' share inf.°~°n reg,ard~g ..ara existing-'~ ' c6mpanY/companies.for.Which the ~ity eah.no.t aa'c'ommoda~ This system'will be ".-.. "' .--... . shared with Commission:members for the~pUrP~se of assisting'~0m'Pardes with.tlie~ .... ' - :' ---':"' ~" i._ .expanSion and/St rel0c'afion'needs~ i:The attached Ii~fomht]On)W0rksheet'iS'anexample of -: .:_ . -.'::-.. ~'... , how.Comihis, sion'membe~ dould' track th. ese'Y0Pb°rturffties;'; ..! ",~;": ".-.: :':';': 'i '.'..':..i'-::-... - · 5. summer youth Em~lovm&rit '.: "! 5 ' :.- .... .'.' .!'-' ' '.-"- : ·: The wealth,, of information collected regarding-summer youth employment needs.lo:be .: :' " ,...... :...i' .." 'utilized'm0r~'thoroUghlyfCPR;will'C°°rdinate,With lochl' agencies, Wli°se-Purpose is ti~. :. _ '"'"' '.- -' -'... · work with.this type of infomaatiOn, to promote the:effecfi'v.e :utilization of.the COllected -: .- .... '-"- - the appropriate empl0yment'informat, i~n ..and refer same'to h-numberof governmental and -. : i ".-' non-profit organizations (I~I.. e _rmepiia,.'Rarnsey and'Anoka~counties). This information will:'-'_:. "' ' .. be collected by CRP during the months of April:mad. May 1995; .- ' .. -...'.. -:. 6. BUSiness Seminar(s)/Trade Sh0w(s~ -' ':" ' ' "'" "' ' ::- ':'" ' ' '" '- ' ';' ': ' ."' CRP. will asSist-local chambers 6f e0mmerc~ 'andother 16cai ei/hties in the Coordination and organization' Of various business related seminar(s) and'~iide shoW('s) focused on '" specific topics (e.g,, !nte, ma. ti0na! :trOde, '.mnovat!ve .t'echno!0gies,'j°b fair, ere:).. '. '.. ~~~~,)~~ REQUF.~T FOR ACTION Originating Department Approved for Agenda Agenda Section City Manager 6-12-95 EDA Item No. Dan Donahue By: By: CONSIDERATION OF A MARKET STUDY PROPOSAL BY NORTHWEST ASSOCIATED CONSULTANTS, INC. FOR $9,500 City staff has requested from Northwest a proposal to conduct a market study for the old Super Valu site on 45th and Winnetka. The study would provide direction to the EDA on how it should proceed in helping to attract viable business to this site. MOTION BY SECOND BY Review: Administration: Finance: RFA-O01 JUN-08-1995 15:32 NAC 612 595 983? P.02/11 URBAN PLANNING , DESIGN · MARKET RESE.ARCH ~. Dan Donahue City Manager City Administrative Offices 4401 ×ylou Avenue No. New Hope, ~ 55428 RE: New Hope Market Analysis Fr~.~:, NO: 802 9ear Mr. Donahue: .:. :'~.:s i¢.aer will serve to document our proposal to assist the City of New Hope with thc :-.e.p~tion of a Market Study for the City Center area with a specific focus on the Winnetka Shopping Center. With thc recent departure of the Super Value Supermarket, the Winnetlca Center is left with a significant vacancy. Debate has occurred as to how the City should promote the reuse of this large refail space. Should another grocery stor~ be pursued, or should other types of rerai! businesses be explored? The Market Study is intended to provide an objective analysis of area retail marl~t conditions which will. serve as the basis for formuhting economic' development strategi~ for the promotion and improvement of the Winnetka Shopping Center. NAC has served New Hope in the preparation of community market studies in 1985 and 1989. These past market studies have proved to be accurate and insightful in assisting New Hope in identifying available reT~ market oppommities, In accordance with the findings of the 198.5 market study, the New Hope Mall was purchased and redeveloped using a large recreational/ente _i_~inment use and sit down restaurant as major anchors. While the New Hope City Center contains a vacancy, the overall shopping center displays a new vitality. The 1959 market study idcndfied a market demand for automotive supply and service retailers and i'r~as~di~g specialty type r~tailcrs. Consistent with these findings, an automotive tire business ~;ac:~; a ma]or anchor tenant for the Winnetka Commons Shopping Center. A freestanding .- :~,.~,, - a~?!us retailer is now located at the corner of 42nd and Nevada. 5775 Wayzata Blvd.-Suite 555. St. Louis Park, MN 55416, (612) 595-9636'Fax. 595-9837 ' - .... ~_-', ~-__~ NAC 612 595 983? P .05/11 Mr. Dan Donahue Page Two These past studies will be of substantial help in tracing market trendS and conditions. The availability of these reports provides format and historical data that will be used to reduc~ proj~t costs and is reflected in our budget estimate. To thc extent possible, we will utilize past studies, 1-,owever, all background information must be updated to mile. ct the current demographic and .~aarker conditions existing in New Hope and its extended trade area. Market Study will provide a mhtively objective evaluation of the community. The basis for .:,~x:lnsions will inchtde statistical calculations based on popuhfion, income, shopping and .~oudi~tg habks, mid allocation.of d~eloped space. Tim Maflcei Study will also involve intervi~rs id'~ ili~ property managers o~ New Hope's shopping centers to provide input from the affected commercial properties. Through this process, policy and philosophic bias is as a consequence min~nized. The following outlines our study approach.and allocation of costs: I. Delineate and Describe Area of Influence Assemble and update background data Inventory local and competitive reXail locations Describe Mstoric growth treads Estimate current levels of study area d~mand Estimate local and trad~ area spending trends Determine transportation patterns and tzaffic volumes Describe historic retail sales trends Estimated Cost ............................................................... $3,500.00 Ii. Interview Shopping Center prOlmrty Managers for New Hope's Six Major Shopping Centers Estimated Cost ....................................................... . ....... $1,200.00 Mr. Dan Donahu¢ lh~e Thmc 3~te ~,valaation of Winnetka Center Identify the strengths and weakrie, sscs of the Winnetka Center as a retail location. Estimated Cost ....................... ... ...................... . .............. $ 600.00 IV. Market Analysis and Findings Delineate market areas Describe historic market trends and changing conditions Estimate ctm~nt maxket demands l~roject future marknat demands Summarize findings and retail options for thc City Estimated Cost.... ................... ~ ....................................... $3,000.00 A3 ml. nistration/Coordinatlon/Production Scan,ap meeting with staff to outline study objectives tnter,Aew review meeting Report production, graphics, copying, assembly (10 copies of f'mal report) Secretarial ~qtlmated Cost ........................ ........ , .............. . ............... $1,200.00 TOTAL PROJECT COST ................................................. $9,500.00 Public presentation would be conductexl under tl~ pre~cnt contract for public meetings, and therefore due to the uncertainty as to the number, would be an extra cost. 'D'..e technical aspect and assembly of tho project rtt0ort would be completed within a maximum .' 9i_i days from the date the City notifies NAC of'authori:,.a, tion to pwceed. ~-0:{~-i995 15:55 NAC 612 595 985? P.05711 Alan R. Brixius, Vice President of NAC would supervise the project, plus be responsible for di_r~t client contact and px'~ntations. Daniel Wilson, an Associate, will parti¢ipat~ in thc project providing t~chnical expertise in the Market Study. NAC would also utilize members of its support staff in data assembly and inventory work. Resumes of th~ NAC staff are attached for your review. Hopefully this letter responds to your request for a Market Study. Should them I~ any ne. ed for ~'!:-~_ficat/on, do not hesitate to contact mc. Additionally, i am available for a pcrsonaI discussion -:~ki ~e_. City Council, should this be desired. i l~a.~: you for your consideration on this matter. Wc look forward to working with you, tho City . :,_,uac~i and Planning Commission on. this project. Sincerely, NOR'I'HWF.,ST ASSOCIATED CONSULTANTS, INC. Alan It. l~rixius Vice President . ~-~o-t_- ...... :3'4 NAC 612 595 983? P.06/11 Vice President EDUCATION St. Cloud State University, St. Cloud, Minnesota, B.A. Urban ~ffairs/Urban Plannin~ ~r~esota School of Real Estate General Curriculum _. t ~ .......~-~ Planner/Research Analyst~ with Northwest Associated Consultants, Inc. ~79-!~0: Co~iunlty Planner with '. Midwest Plannin~ and Research, Inc. A~EAS OF S~ECIALTY Comprehensive Planning: '. Assist local and~ regional ~overriments in the preparation and implementation of comprehensive plans. ~nvolved with the formulation of plans addressin~ community land use, transportation, natural resources and housing, development management, policy planning, land use and environmental re~ulatlons and implementation. Redevelopment ~!anning: Administrative and technical assistance to local ~overnments on redevelopment and economic development .ef£orts includin~ specialized back~round in land use market feasibility and tax increment flnancin~. .. o_te and Project P!anning: Plannin~ and design of commercial, industrial and residential development with re~ard to site function, land use compatibility and coordination with support services and utilities. Market Research: Market feasibility projects for housin~ and commercial developments. , IUN-08-1995 15:]4 NAC 612 595 9839 P.07711 AL~N BRIXIUS _-~gz-aphic Analysis: Identify and, project community growth patterns and demographic patterns for the purpose of comprehensive park planning and marketing research. Grantsmanship: Preparation of grant applications for Community Development Block Grant ApPlication. Zoning Administration: Technical assistance to municipalities in bo~h the formulation and implementation of zoning and ~ubdivision regulations. PROFESSIONAL AFFILIATIONS: ~.erican Planning Asso¢iation ~innesota Chapter of American Planning Association ~£nnes©ta Planning Association .... i~nnesota Notary Public · .':,'--: 'j~ I"~PIC 612 595 c38~S? P.08×11 Associate EDUCATION .. University of Minnesota, Bachelor of Science-Marketing University of Minnesota, Graduate Work in Marketing, Finance, and Economics ~XPER!ENCE ~9?9-Present: Consultant - Providing Professional Assistance for Research, Development and Management of Commercial, Industrial and Mouslng~Projects. ,'.~-~7~; ~xecutive Director, Wa~onia Housing and Redevelopment Authority. .172-L976; Assistant Executive Director, LeSueur Housing azld Bedevelopment Authority. 1969-1972: Loan Officer and ~lanning Intern, Minneapolis Nousing a:d Redevelopment Authority. AREAS OF'SPECIALTY ~Conomi¢ Development; Assis~ communities to' identify e~onomic development opportunities and obstacles, ~ormulate strategies and organize community for action. Star Cities Program assistance and gTant writing provided. Market Research: Market feasibility studies for housing and commercial development, land and unit absorption. ~c:~: ~rojec~ feasibility and structuring', ~ development contract negotiation, and preparation of development plan and financing plan. Central Business District: Redevelopment strategies, ~unctional analysis, rehabilitation programs and financing mechanisms. Housing Projects: Planning, development and implementation of subsidized and market rate housing projects. ~ ZUN-08-1995 15:55 NAC 612 595 983? P.09×11 DANIEL WILSON Page 2 ~c¥,i?~!!~ Carryout project administration and implementation ofpublic and private '-' development projects. iocauion: Implement regulations of Uniform Relocation Act for residential and commercial displacements. PROFESSIONAL ASSOCIATIONS/LICENSES Minnesota Real Estate License National Association of Housing and Redevelopmen~ Officials - Member Minnesota Multi Housing Association - Member Greater Minneapoli~ Area Board of Realtors Member .... ~-~_ 1~:~ .... NAC 612 595 9837 P.10/lt EDUCATION St. Cloud .State University, St. Cloud, Minnesota Bachelor of Arts in Urban Affairs/Urban Planning EXPERIENCE 1993-Present Planner/Research Analyst, Northwest Associated Consultants, Inc. !989-1993 Assistant Planner, City of Minne~rista, Minnesota Planning Intern, City of Woodbury, Minnesota ~i.~AS OF SPECIALTY ~e/Project Planning: Provide technical assistance in subdivision and site plan review ~or zoning ordinance and comprehensive plan compliance. Zoning Administration: Technical formulation and enforcement of zoning and subdivision regulations and amendments. Comprehensive Plans: Assist local and regional governments in the preparaZion and implementation of comprehensive plan~. Environmental Provide forraulation and implementation of Planning: floodplain and shoreland regulations, ~a P. esearch Provide technical assistance including ~ ~!~.?~lysis: project research and analysis. ~__,~-C~iE~-i?95 15:56 NAC 612 595 983? P. 11/11 EDUCATIO~ ~!?'~v.~rsity of Minnesota, Minneapolis, Minnesota ~.cI%~!o~ of Arts in Political Science Plannin~ Technician, Northwest Associated Consultants, Inc. Research A~slstant, Lunz MassOpust Reid and CO. AR~AS O~ SP~CIA~TX .. Comprehensive Plans: Assist local and regional government~ in the preparation and imPlemenZation of comprehensive plans. Data Re~earch and Analysis: Provide technical assistance including. project research and analysis. ~i%e/Project Planning: Provide technical assistance in subdivision and site plan review for zonin~ ordinance and comprehensive plan compliance. .~_~!n~ A~ninistration: Technical formula~io~ and enforcemen~ of zonin~ and subdivision regulations and amendments. TOTAL P. 11