Laserfiche WebLink
Peter J. <br />Patchin <br /> & Associates, Inc. <br /> Valuation Consultants (612) 895-1205 <br /> 101 West Burnsville Parkway, Suite 200, Burnsville, Minnesota 55337 FAX (612) 895-1521 <br /> <br />May 1, 1996 <br /> <br />City of Elk River <br />13065 Orono Parkway <br />P.O. Box 490 <br />Elk River, MN 55330 <br /> <br />ATTN: Mr. Patrick D. Klaers <br /> <br />RE: <br /> <br />Limited Appraisal, Summary Report <br />Special Benefit Due to The Extension <br />of Water and Sewer Trunks <br />Elk River, Minnesota <br /> <br />Dear Mr. Klaers: <br /> <br />We have completed our analysis regarding the market benefit of water and sewer trunks to <br />lands located within the project area in Elk River. The project area is located along and near <br />U.S. Highway 10 and west of Highway 169 in the southeastern portion of Elk River. The land <br />types studied were residential, commercial and industrial. <br /> <br />The' analysis of this report is limited in both the scope of data researched and the depth of <br />analysi's. An analysis of far greater depth would have to be performed before a complete <br />appraisal can be rendered. As this is a limited appraisal, we have invoked the Departure <br />Provision of USPAP. This departure is as follows: <br /> <br />The scope of research and depth of analysis are not <br />sufficient to be considered a complete appraisal. <br /> <br />This appraisal does not value a specific property, rather it estimates the benefit of trunk sewer <br />and water lines to properties by class (residential, commercial and industrial). <br /> <br />Also, the benefits indicated in this appraisal are those which would accrue to bare land. Since <br />many of the parcels along the Highway 10 corridor (southeast of Highway 169) are improved, <br />specific benefit of sewer and water trunks to improved properties would vary based on <br />existing improvements (i.e. private wells and septic systems). <br /> <br /> <br />