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 />follows :
<br />- 5300
<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 />- No Change
<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 />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