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May 1, 1996 <br /> <br />City of Elk River <br />13065 Orono Parkway <br />P.O. Box 490 <br />Elk River, MN 55330 <br /> <br />ATTN: Mr. Patrick D. Klaers <br /> <br /> :iiiil~£!iiii!i~i.'.m:ited Appraisal, Summary Report <br /> .:~iiiiiiiiiiiii! '~iiiiiiii~:' Special Benefit Due to The Extension <br /> :~iii!i!:' .:iiiiiiii!i~:.'~i!ii!- of Water and Sewer Trunks <br /> ':~!i!iiii~iiiiii~:'"'%!i~::' Elk River, Minnesota <br /> <br />Dear Mr. Klaers: <br /> <br />We have completed our analysi~:~ii~garding the market benefit of water and sewer trunks to <br />lands located within the project area in Elk River. The project area is located along and n~ar <br />U.S. Highway 10 and west of Highway 169 in the southeastern portion of Elk River. The land <br />types studied were residential, commercial and industrial. <br /> <br />The analysis of this report is limited in both the scope of data researched and the depth of <br />analysis. An analysis of far greater depth would have to be performed before a complete <br />appraisal can be rendered. As this is a limited appraisal, we have invoked the Departure <br />Provision of USPAP. This departure is as follows: <br /> <br />The scope of research and depth of analysis are not <br />sufficient to be considered a complete appraisal. <br /> <br />This appraisal does not value a specific property, rather it estimates the benefit of trunk sewer <br />and water lines to properties by class (residential, commercial and industrial). <br /> <br />Also, the benefits indicated in this appraisal are those which would accrue to bare land. Since <br />many of the parcels along the Highway 10 corridor (southeast of Highway 169) are improved, <br />specific benefit of sewer and water trunks to improved properties would vary based on <br />existing improvements (i.e. private wells and septic systems). <br /> <br /> <br />