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Page: 3 <br />Elk River Main and Gates TIF Analysis – April 2, 2020 <br /> <br /> <br /> <br /> <br />SCOPE OF SERVICES <br />LHB will provide the following services based upon the terms and conditions described below. <br /> <br />1. Survey the TIF District to determine if it meets applicable coverage test. <br />A. To meet the coverage test, parcels consisting of 70 percent of the area of the district <br />must be “occupied” by buildings, streets, utilities, or paved or gravel parking lots. <br />B. A parcel is not considered “occupied” unless at least 15% of its total area contains <br />improvements. <br /> <br />2. Conduct a visual review of building(s) interior and exterior: <br />A. Obtain property owner’s consent for inspection. <br />B. Document property conditions relative to Minnesota Statutes Section 469.174 <br />Subdivision 10. <br /> <br />3. Estimate building(s) replacement cost: <br />A. Replacement cost is the cost of constructing a new structure of the same square footage <br />and type on the site. <br />B. A base cost will be calculated by establishing the building class, type and construction <br />quality. <br />C. Identify amenities, which increase the value of the building over the standard <br />construction quality level. <br />D. Review building permits for each parcel. <br />E. The base cost and cost of amenities will be totaled to determine the replacement cost <br />for the property. <br /> <br />4. Evaluate building(s) existing condition: <br />A. “Structurally substandard shall mean containing defects in structural elements or a <br />combination of deficiencies in essential utilities and facilities, light and ventilation, fire <br />protection including adequate egress, layout and condition of interior partitions, or <br />similar factors, which defects or deficiencies are of sufficient total significance to justify <br />substantial renovation or clearance.” <br /> <br />5. Determine Building(s) Code Deficiencies: <br />A. Determine technical conditions, which are not in compliance with current building <br />code applicable to new buildings. <br />B. Provide opinion of probable cost to correct identified deficiencies. <br />C. Compare cost of deficiency corrections to replacement value of building. <br /> <br />6. Prepare and deliver report: <br />A. Prepare a written narrative analysis of the District describing why the property within <br />the District does or does not meet the criteria as “structurally substandard” as <br />established in Minnesota Statutes Section 469.174, subdivision 10. <br />B. Deliver final reports via email PDF. <br /> <br /> <br /> <br /> <br />