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• <br />Real Evtnle ~ppraisale <br />ST. CLOUD APPRAISE <br />INC. <br />Suite 101 • Roosevelt Office Park • 606 South 25th Ave. • St. Cloud, MN 56301 <br />Phone (612) 253-4488 • FAX (612) 253-8124 <br />• <br />Mike Amo, RES <br />President <br />Thomas W. Montreuil, SRA <br />Vice-President <br />August 21, 1995 <br />Mr. Patrick Klaers <br />City Administrator <br />City of Elk River <br />13065 Orono Parkway <br />P.O. Box 490 <br />Elk River, MN 55330 <br />Connie M. Hentges <br />Appraisal Coordinator <br />Sharon R. Wiebke <br />Associate <br />Kurt L. Dayton <br />Associate <br />Re: Benefit Analysis, Extension of City Services, U.S. Highway <br />#10 East, Elk River, Minnesota. <br />Dear Mr. Klaers: <br />As requested in your letters dated June 28, 1995, and July 27, <br />1995, I have undertaken a study of the market in the Elk River <br />vicinity with the intent of identifying benefits to property along <br />and near U.S. Highway #10 East from the extension of trunk water <br />and sewer services. <br />I understand that your objective in retaining my services was to <br />outline the value benefits of trunk sewer and water line <br />installation within District 1, and Phases 1 and 2 of District 2 <br />of your Urban Service Area Study Map. <br />The effective date of my study is August 14, 1995, which is the <br />date I began my research and viewed the area in question. The <br />specific problem considered was, "What is the per acre benefit <br />indicated by market sales evidence attributable to immediate or <br />nearby proximity of city trunk water and sewer"? The results of <br />this study will presumably be used to apply an assessment rate on <br />the affected parcels in a defensible manner, and as a defense <br />mechanism in possible assessment appeals. <br />L' <br />