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Patchin Messner Appraisals, Inc. 2 <br />(dba: Patchin Messner Valuation Counselors) <br />City of Elk River <br />Residential Land Valuation Study RFP <br />Project Approach <br />Patchin Messner Valuation Counselors will conduct research and analyze residential land <br />sales in Elk River and surrounding communities in order to arrive at an indication of <br />average market values for un-platted land in the City of Elk River. This consultation is <br />not intended to be an appraisal of any particular property within the City of Elk River. <br />Rather, the function of this memorandum is to provide guidance to the City in <br />determining appropriate park dedication fees. The following data and information <br />pertaining to the review of park dedication fees will be examined. <br />• City of Elk River zoning and land use information <br />• Minnesota Statute 462.358 Subd. 2b. regarding park dedication fees <br />• Investigate comparable residential land sales <br />• Complete statistical analysis on observed market -transacted sale prices <br />Proposed Project Team <br />Jason Messner, Sherril Brumm, Christine Mackaman, and Brent Pederson are principals <br />of the firm and are MAI members of the Appraisal Institute. One or more principals and <br />associate appraisers will combine their knowledge and experience in analyzing <br />information relating to the Land Valuation Study. Our firm has recently conducted <br />similar studies for the Cities of Apple Valley and Lakeville. <br />Resumes for Jason Messner, Sherril Brumm, Christine Mackaman, and Brent Pederson are <br />attached. <br />PATCHIN MESSNER <br />Valuation Counselors <br />