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9563 <br />• ~'OPE OF,~PPRAISAL <br />3 <br />This document is a Limited appraisal presented in a restricted format. This is a limited <br />appraisal only and an analysis of greater depth would be required in order to render a full <br />and final appraisal. <br />In this report, we have estimated the market benefit of water and sewer trunks to land <br />areas located within the study area.. This study area is located along and near U.S <br />Highway#10 in the southeast portion of Elk River. Lands within the study area include <br />the following zoning types: <br />• Single Family Residential <br />• Highway Commercial <br />• Light Industrial <br />• Medium Industrial <br />• Planned Unit Development <br />• We estimated the market benefit to lands of each property type (residential, highway <br />commercial and industrial). The market benefit is estimated on a per acre basis. <br />We have- not appraised any particular property within the study area. No before or after <br />value estimate has been made of any of the properties within the study area.. Rather, we <br />have analyzed various sales in order to isolate the market benefit of the water and sewer <br />trunks in general <br />These sales will be briefly summarized for each property type, along with a brief <br />overview of our analysis. When selecting comparable sales, vve have focused our <br />attention on .recent sales within the City of Elk River. When needed, we have .sought <br />sates within other municipalities which provide useful case studies in isolating the benefit <br />of water and sewer trunks. - <br />• <br />Peur J. Patchin & Associates, Inc. <br />