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MINUTES 0% THE COXTINUED HEETING OF THE <br />EDINA BONiD OF REVIEW <br />HELD ?.IONDAY, JUNE 30, 1975, AT 5:30 P. M. <br />Council Members Courtney, Richards, Schmidt, Shaw and Mayor Van Vatkenburg <br />served as the Soard of Review €or the meeting continued from June 26, 1975. <br />The Board reviewed the Purchase Agreement for $45,000 of Mr. Robert Hoffman for <br />property Located at 5339 W. 64th Street, and was told by Assessor Swanson that <br />the cost of the bulk of the land was included in the agreement. Based on his <br />review analysis of other similar properties, Nr. Swanson was firm in his pre- <br />vious recommendation of $54,000 for the 1975 market value and the Board concur- <br />red with his recommendation. <br />The Board reviewed M1'. Swanson's analysis of sales in support of his recommended <br />1975 market value of $83,000 for property of Mr. Dale E. Johnson at 5800 Dewey <br />Hill Road. Mr. Johnson, the owner and builder, had indfcated that the value <br />should be $66,527. <br />established at $80,000. <br />The hard reviewed the Chass-Brackett estimate of $803,000 for the Modern Medicifie - Building at 4015 W. 65th Street. The City Assessor said that, in his opinion, <br />the property could be worth more than $2,000,000 if a buyer could be found who <br />desireda "prestige location", but that otherwise it might be difficult to sell. <br />Mr. Swanson recalled that the property had been appraised at $1,210,000 for 1973 <br />and 1974 and for $1,180,000 for 1972. <br />matter. <br />The Board reviewed Chase-Bracket estimate of th2 Modern Medicine Building at <br />4015 W. 65th St., the 1975 market value for which property had been appealed by <br />Mew York Timss Media Go. <br />worth mor2 than $2,000,000 if a buyer could be found who desired a "prestige <br />location", but that otherwise it might be difficult to sell. <br />appraised the subject property for $1,210,000 for 1973 and 1974 and for $1,180,000 <br />for 1972.. The Mayor' abstained from discussion in this matter. <br />Council determined that the 1975 market value should be <br />.. <br />The Naj7or abstained from discussion in this <br />,A .. <br />,. .. . <br />Chase-Brackett had stated that the property could be <br />Chase-Brackett had <br />Following lengthy discussion of all properties, Councilman Courtney's motion that <br />the following 1975 market values be established was seconded by Councilman Shaw <br />and carried, with Mayor Van Valkenburg abstaining from Voting on the Modern Nedi- <br />cine Building: Assessor's 1975 <br />Name Address Value Value Value <br />Xobert Hoffman . 5339 I?. 64th St. $ 54,000 $ 40,000 $ .. 54,000 <br />Dale E. Johnson 5800 Dewey Hill Rd. 83,000 66,527 80,000 <br />hold I. Peinberg 5309 Kingsbury Dr. 135,740 120 , 000 130 , 740 <br />Modern I4edicine Bldg. 4015 I?. 65th St. 1,080,000 765,000 1,080,000 <br />Councilman Shaw's motion adjourning the Board of Review Meeting was seconded by <br />Councilman Hchards and carried. <br />I Recommended Owner's Market <br />Adjournment at 6:30 p.m. <br />.