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 />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 />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.