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Application of Maximally Productive Highest and Best Use as Vacant The maximally productive use provides for a correlation of the three previous tests and concludes that a single family dwelling under the current zoning, which would take advantage of the location of the subject site, would represent the highest and best use of the subject site as -if vacant as of the effective date. Highest and Best Use as Improved The subject property is improved with a single family residential home with attached garage. The site is of adequate size to accommodate the current uses of the property with a marketable site size and an appealing setting adjacent to a park area and close proximity to downtown Elk River. The improvements are a permitted use under the zoning and are assumed to meet all zoning requirements or are grandfathered. The improvements have a functional design with fair quality and fair to average condition and would be appealing to the current residential market as well as the rental market and contribute to overall property value. The value of the land, as -if vacant, less demolition expenses would not exceed the improved value of the property, therefore, the current use should continue. The maximally productive use provides for a correlation of the three previous tests and concludes that the subject's single family dwelling would represent the highest and best use of the subject site as -improved as of the effective date. The improvements meet the four requirements for Highest and Best Use. LARGER PARCEL The subject property is comprised of one tax parcel. The subject's "larger parcel" is equivalent to the MnDOT parcel area of 6,354 square feet. PROJECT DESCRIPTION A four -lane highway reconstruction project with ADA sidewalk improvements involving US Trunk Highway 10, through the City of Elk River is planned for 2021. The project includes a highway reconstruct from Xenia Ave NW to 4"' St NW with new road grade and surface, intersection improvements with access control changes, new curbs/gutters, storm sewer and sidewalks. A paved multi -use trail will be constructed along the south side of Highway 10 as part of the project. While most of the MnDOT portion of the project will occur within the present highway right of way, the redesign and replacement of pedestrian sidewalks that meet American Disabilities Act (ADA) design standards is the responsibility of MnDOT. The sidewalk/trail construction requires some temporary acquisitions from abutting property owners. Note; MnDOT is responsible for all costs of the MnDOTproject and will not be assessing costs from landowners. However, there may be specific items requested and paid for by the city government. S.P. 7102-135RW C.S. 7102 (10=3) 902 Parcel 7102-902-229C Page 32