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<br />PATCHIN MESSNER & DODD
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<br />VALUATION COUNSELORS.
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<br />. February 16,2006 .
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<br />". City of ~Ik River' . .' .
<br />. Parks and RecreatiQn Department
<br />1104 Lions .Park DriVe . .
<br />~lkRiyer,MN 55330
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<br />, ,'R:E: 'Complete Appraisal, Summary Report. ' .'
<br />-, , : " Ii lIer 'Corporation Propemr," '",
<br />. , ' ,South 'Side of County Road 33' " .'. '. .
<br />. .:"PartsofSe(:; l6,&21{r33N,.R26W' '," ....
<br />'-': .'Elk River,Miri'nesot.~,< " . "
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<br />Attri: Mr.WiJI iam Maerti
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<br />" DearMf:..~~ertz: ,_ ,,','. .':~',,", _',' " , ':"""':'" . _'.' ,......, ' .,' " ,,;
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<br />, At 'your request, 'J':havemade a.cdmpiete~ppraisal :oftbe':apqv~r~~'renced':propeiiy~' The" . "','
<br />, purpose ofJheappr~isalis<to,'estimate tt~e:marketvalu,e,9f!he$ubje,ctprppertY:Thef~.mCtioli" ,~'; _
<br />" 'of this appraisaL ista assist the c:l,ieht (~ity otElkRiv.errwithacquiring ajJortior)'qrtf).~'subject ': ',- ','
<br />, property. Theeffeqive date of thisapprCiisaris FebrLJary6,2006,.th,esamedate'l inspeged <.
<br />the property,. .' A 'representative '.' of owner.... (MIke, ,Karon) was . contacted ", bY<,:telephone . .ahd' "
<br />provirJed an opportunity,toaccorT\panyine during th~ ,inspectioD. ,Mr~!<(lronelected"'lJotto',c . ',.
<br />be present during the inspeetioll, but did discuss the subject. property with me during'our '
<br />:,telephoneconver$ation. _ " ~' ,"::., ,':, ',' ',' :'.:_ 1 ','_' ,
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<br />'::Th i's':~ppra'isalis'i'ntehd.~d ioc6mpjY.~ith "t~~"'Unif~~m. ..Sta~dard~ .';oi P;of~sst()~ai 'Appi~isal,> ,'-,'
<br />practice (US PAP) , 9f the Appraisal Joundati6h~ This appraisal is also meant fO,comply\:Vith-, .', '
<br />the Uniform App'raisalStandardsforFederal Land Ac'quisitio_rls' (UASFLAh. :'Theappr~is,al,is': "
<br />presented in a. sllmmary'reporting 'format,' as desc~ibed in, u.SPJ\PSta-ndardRule-2;:; 2(b)'.' " '~""
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<br />Th~ cI i~nt proposes to a~~lUl~~ ~ 78'~cre'tract ~f .land.fr6n, '{he owne~(TiU~r). .;:his18~~r:" < " "
<br />tract is Pellt ofalarger 34,2.04 acre parcel owned by Ii lJer' Corporation. Thus, tneappraisal"
<br />assignment considers the~proposed acquisition as ~L"partialacquisitionn, of the largerparc;eL '
<br />. " diScussed .inthe :attached'report,J have q:mcluded thatthelarger pattel is.the342:04acre' ,
<br />,parce10\yned qy Iiller~ These ~42~04 acres areqintiguous,are underc;<;>mmonown'ership,.:'
<br />:andshare:a continurtyinuse.., :'. .'. ',> ." . ,'>: "..", ."
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<br />Further, I, have determined that the partial acquisition will not cause severance damage to the - .
<br />, remainder parcel., The partial acquisition will in no way interfere with the current sand and '
<br />> gravel mining operation, Likewise,<none'ofthe, improvements associated with the'mining
<br />,operation will beimpadedby the partial acquisition. Therefore, only -the land valu~has
<br />-been appraised. ,As ,a partial acquisition, the land ,value has beenapprais,edin both the
<br />,~efore and 'after conditions. " .' , ,
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<br />'Sunset Ponds Office Park. J 3967,WestPreserveBoulevard. Burnsville. MNS5337
<br />. 'Phone: (952)895-1205 . Fax: (9S2)895-152J.
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