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MINUTES OF THE CONTINUED MEETING OF THE <br />HELD IIEDNESDAY, MAY 10, 1972, at-5:OO‘P.M. <br />EDINA BOARD. OF REVIElJ . <br />EMNA VILLAGE HALL - <br />Councilmen Courtney, Shaw and Van Valkenburg, acting as Mayor Pro Tem in the <br />absence of Mayor Bredesen, served as Board of Review for the meeting continued <br />from May 3, 1972. Messrs. Jphn and Fred W. Hedberg and their attorney, Mr. <br />Kenneth Anderson, were present to protest the market value placed on their <br />property which is located generally between Southdale Center and Interstate <br />. <br />follows : <br />Parcel <br />800 <br />1200 <br />2800 <br />4800 <br />- 5300 <br />6400 <br />6 800 <br />I Highway 494, East of France Avenue. Hedberg properties were reviewed as <br />1970 Value 1972 Value Proposed Changes <br />$ . 276,000 I $ 370,000 $ 294,000 <br />225,000 270 io00 No Change <br />1,125,000 . 1,280,000 1,175,000 <br />555,000 720,000 576,000 <br />75,000 100,000 No Change <br />123,600 . 147,000 No Change <br />’ . 123,600 <br />Totals $2,503,200 <br />Per Acre 27,720 <br />147,000 <br />$3,034,000 <br />33,600 <br />- No Change <br />$2,709,000 <br />30,000 <br />Mr. Swanson advised that the 1970 values which had been revised as a result <br />of an appeal by the Hedbergs was still in contention. He added that the over- <br />all average market value had been set at $30,000 per acre and that the value ’ <br />of land along Fratce Avenue had beep set at a higher value than other pro- <br />perties. Mr. Aziderson advised that the Assessor is not permitted to establish <br />value based on potential zoning and said that present zoning is R-1 Residential <br />District with the present use of mining having been established many years ago <br />by ordinance. He recalled the case of the Minneapolis Golf Club in which <br />St. Louis Park had attempted to assess the golf course property at $17,000 per <br />acre and in which the court held that the property was only worth $4,000. Mr. <br />Anderson said that Hedbergs cannot get the yield from their mining business <br />to pay taxes at the rate of $1,000 per acre and suggested that the Yorktown <br />development has lessened the value of the property inasmuch as uses which <br />would generate high traffic would probably-npt be allowed this close to the <br />Yorktown area. Mr. John Hedberg said that he believed that if his property <br />was included in Yorktown, the Assessor’s value would not be far off. He <br />added that his property still has a significant deposit of sand and that they <br />can continue mining for someztime, whereas other properties in the area. <br />which had been sold to Yorktown had been mined out. Mr. Hedberg said that he <br />does not believe that R-1 zoning is the ultimate zonPng for this property <br />but that some coqgyi$e should be made in the market value. Councilman <br />Shaw questioned/F e cost of the Minneapolis-Golf Club property was <br />realistic and noted also that.the Hedberg property is included in the South- <br />east Edina Comprehensive Plan. <br />Mr. Hedberg objected also to the $945,000 market value placed by the Assepsor <br />on his new 44 unit apartment building at 4000 Parklawn and produced records <br />indicating that the total cost of land and the structure was $696,000, not <br />including the cost of contracting which was done by Mr. Hedberg himself. <br />pointed out that the rental history of the apartment units was poor, with only <br />50% occupancy and compared market cost with the market cost of his other <br />apartment buildings in Bloomington. <br />notified of the dedision of the Board of Review by May 22, 1972. <br />I <br />’ <br />He <br />The Hedbergs were told that they will be <br />Mr. Swanson then advised that he had reviewed the assessments which had been <br />previously presented to the Board 0.f Reviexvand had made revisions on the <br />following three properties as follows : <br />Owner owner’s Value 1972 Assessment Recommendation <br />John L. Jones $48,000 <br />5500 McGuire Road <br />Roland C. Danielson 81,000 81,000 ’ 85,000 <br />6209 Loch lfoor Drive <br />G. M. Stenson Not Stated 61,900 58,300 <br />5811 Bywood Vest <br />No further business appearing, the meeting was adjourned at 6:20 p.m. andl <br />continued to May 17, 1972, following the 7:OO p.m. Special Co/uncil Meeting. <br />I $49,000 . $51,600 I <br />-A’ QM d I’ LLAB1-4 <br />Village Clerk