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<br />Board of Review Minutes <br />June 18. 1987 <br />Page 2 <br /> <br />e <br /> <br />rhe service road length was discussed and also the access to Highway 10 in <br />front of Cretex. <br /> <br />Suggestions <br />line before <br />of: <br /> <br />were <br />the <br /> <br />made by the Board of Review and Mr. Adamski to paint a <br />service road and install a sign something to the effect <br /> <br />"DO NOT BLOCK INTERSECTION" <br />"STOP HERE ON RED" <br />"STOP BEFORE SERVICE ROAD" <br /> <br />Discussion was also held on access to Proctor form the rear of the <br />building or cutting across a lot owned by Beaudry which Mr. Adamski stated <br />he would check into. <br /> <br />In 1981. Mr. Adamski's property was valued at $137.000. <br />in 1986. it was valued at $141.700. an increase of 3% in <br />Adamski agreed that the land value was not a real concern <br />get better control of use of the intersection. <br /> <br />Being reassessed <br />land value. Mr. <br />but does want to <br /> <br />No action was taken on this appeal. <br /> <br />Jerry Krtizeck and Robert Nelson presented their agreement to the Board of <br />Review for approval. <br /> <br />e <br /> <br />COUNCILMEMBER TRALLE MOVED TO APPROVE A REDUCTION IN THE VALUE OF ROBERT <br />NELSON'S RESIDENCE FROM $176.200 TO $168.700. COUNCILMEMBER DOBEL <br />SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> <br />Ty Bischoff discussed sales ratios with the Board of Review and how Elk <br />River compares to other communities. He stated that the Elk River sales <br />ratio is at 90-92%. Other surrounding communities. Bischoff stated. were <br />Rogers 76% and Monticello 44%. (Sales ratio is the market value divided <br />by the sale price). <br /> <br />A question was raised asking how tax values downtown compare to the <br />shopping center. It was stated that it is hard to make a comparison <br />because of the structures and the lot sizes. <br /> <br />Mr. Bischoff discussed the shopping center with the Board of Review. He <br />stated that the shopping center was valued at $3.014.800 and continued by <br />saying that the shopping center has petitioned the courts over the value. <br />No date has been set for this case. Bischoff stated that another tax case <br />in court at this time is the Balmore Apartments. <br /> <br />e <br /> <br />Discussion was held regarding tax increment financing. The Evans Park <br />Project is a tax increment project valued at $1.332.000. The shopping <br />center and Pamida are also in a tax increment financing district but <br />Bischoff does not feel these projects are in jeopardy. Dickenson Bus <br />Garage located in Princeton. which has petitioned the court to reassess <br />the value from $1.600.000 to $800.000. could put a damper on the minimum <br />agreement of tax increment financing. <br />