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HIGHWAY COMMERCIAL LAND, U.S. HIGHWAY #10 EAST CORRIDOR <br />• <br />BENEFITS STUDY, EFFECTS OF CITY WATER AND SEWER VERSUS PRIVATE <br />UTILITIES <br />For this analysis I searched for sales of and offers to sell <br />vacant land parcels adjacent to U.S. Highway #10, between the <br />junction of U.S. Highways #101 and #169 in Elk River, to U.S. <br />Highway #10 at the Anoka city limits. <br />The map presented on the following page depicts the sale <br />prices and asking prices of various sites, as well as the location <br />of the MUSA (Metropolitan Urban Services Area) relative to each <br />site (shown as a yellow line), and the location of city water and <br />sewer lines (shown as red dashed lines). <br />The second map depicts the recent sales of vacant land within <br />the Elk River portion of the corridor, and the approximate location <br />of city water and sewer lines. <br />Although not presented in this report, a similar methodology <br />was utilized in the analysis of benefits to residential and <br />industrial lands. <br />Considering the differences between the sale parcels and <br />asking parcels, but isolating the benefit indicated by the market <br />for the nearby presence of water and sewer, the sales indicate that <br />this amenity adds $10,900 per acre to the price. <br />Reviewing the sales in Sherburne County along U.S. Highway <br />#10, the same general pattern develops, wherein as one moves closer <br />to city water and sewer lines, the sale price per acre increases. <br />Based upon the evidence examined, it is clear that the <br />presence of city water and sewer near highway commercial sites <br />along this corridor is enhanced considerably, as indicated above. <br />Estimated Benefit Attributable to City Water and Sewer <br />on Highway Business Land: $10,900/Acre <br /> <br />