HomeMy WebLinkAbout2016-07-19 HRA Work SessionAgenda
Housing and Redevelopment Authority Work Session Meeting
City of Edina, Minnesota
Edina City Hall Community Room
Tuesday, July 19, 2016
5:30 PM
I.Call to Order
II.Roll Call
III.Project Updates
IV.Grandview 2 Plan for Tax Increment Financing
V.Southeast Edina Redevelopment Area Plan - Updated
VI.Adjournment
The Edina Housing and Redevelopment Authority wants all participants to be
comfortable being part of the public process. If you need assistance in the way of
hearing ampli*cation, an interpreter, large-print documents or something else,
please call 952-927-8861 72 hours in advance of the meeting.
Date: July 19, 2016 Agenda Item #: III.
To:Chair & Commissioners of the Edina HRA Item Type:
Report / Recommendation
From:Bill Neuendorf, Economic Development Manager
Item Activity:
Subject:Project Updates Discussion
Edina Housing and Redevelopment
Authority
Established 1974
CITY OF EDINA
HOUSING & REDEVELOPMENT AUTHORITY
4801 West 50th Street
Edina, MN 55424
www.edinamn.gov
ACTION REQUESTED:
No action needed. For discussion purposes only.
INTRODUCTION:
Staff will provide updates on redevelopment projects of interest to the Commissioners. Anticipated topics include:
Affordable Housing and 7001 York Library Site.
Date: July 19, 2016 Agenda Item #: IV.
To:Chair & Commissioners of the Edina HRA Item Type:
From:Bill Neuendorf, Economic Development Manager
Item Activity:
Subject:Grandview 2 Plan for Tax Increment Financing Information
Edina Housing and Redevelopment
Authority
Established 1974
CITY OF EDINA
HOUSING & REDEVELOPMENT AUTHORITY
4801 West 50th Street
Edina, MN 55424
www.edinamn.gov
ACTION REQUESTED:
This is being distributed to the HRA/City Council. No discussion or action needed.
INTRODUCTION:
The Plan for the Grandview 2 Tax Increment Financing (TIF) District has been completed.
Since the District was approved in March 2016, City staff and Ehlers Associates have incorporated several
editorial clarifications to address the questions posed during the Public Hearing. Each of the changes are non-
technical in nature.
The final TIF Plan is attached for informational purposes only. No further action is needed at this time.
ATTACHMENTS:
Description
Grandview 2 TIF Plan
FINAL FOR FILING
Modification to the Redevelopment Plan
for the Southeast Edina Redevelopment Project Area
and the
Tax Increment Financing Plan
for the establishment of
the Grandview 2 Redevelopment
Tax Increment Financing District
(a redevelopment district)
within
the Southeast Edina Redevelopment Project Area
Edina Housing and Redevelopment Authority
City of Edina
Hennepin County
State of Minnesota
Public Hearing: March 2, 2016
Adopted: March 2, 2016
Prepared by: EHLERS & ASSOCIATES, INC.
3060 Centre Pointe Drive, Roseville, Minnesota 55113-1105
651-697-8500 fax: 651-697-8555 www.ehlers-inc.com
Table of Contents
(for reference purposes only)
Section 1 - Modification to the Redevelopment Plan
for the Southeast Edina Redevelopment Project Area ........................... 1-1
Foreword ............................................................. 1-1
Section 2 - Tax Increment Financing Plan
for the Grandview 2 Redevelopment Tax Increment Financing District .............. 2-1
Subsection 2-1. Foreword............................................... 2-1
Subsection 2-2. Statutory Authority........................................ 2-1
Subsection 2-3. Statement of Objectives ................................... 2-1
Subsection 2-4. Redevelopment Plan Overview .............................. 2-1
Subsection 2-5. Description of Property in the District and Property To Be Acquired . 2-2
Subsection 2-6. Classification of the District................................. 2-2
Subsection 2-7. Duration and First Year of Tax Increment of the District ........... 2-4
Subsection 2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity
Value/Increment and Notification of Prior Planned Improvements ................ 2-4
Subsection 2-9. Sources of Revenue/Bonds to be Issued ...................... 2-5
Subsection 2-10. Uses of Funds ........................................... 2-6
Subsection 2-11. Fiscal Disparities Election.................................. 2-7
Subsection 2-12. Business Subsidies....................................... 2-7
Subsection 2-13. County Road Costs ....................................... 2-8
Subsection 2-14. Estimated Impact on Other Taxing Jurisdictions................. 2-9
Subsection 2-15. Supporting Documentation ................................ 2-11
Subsection 2-16. Definition of Tax Increment Revenues ....................... 2-11
Subsection 2-17. Modifications to the District................................ 2-12
Subsection 2-18. Administrative Expenses .................................. 2-12
Subsection 2-19. Limitation of Increment ................................... 2-13
Subsection 2-20. Use of Tax Increment .................................... 2-14
Subsection 2-21. Excess Increments ...................................... 2-14
Subsection 2-22. Requirements for Agreements with the Developer .............. 2-15
Subsection 2-23. Assessment Agreements ................................. 2-15
Subsection 2-24. Administration of the District ............................... 2-15
Subsection 2-25. Annual Disclosure Requirements ........................... 2-15
Subsection 2-26. Reasonable Expectations ................................. 2-15
Subsection 2-27. Other Limitations on the Use of Tax Increment................. 2-16
Subsection 2-28. Summary.............................................. 2-16
Appendix A
Project Description ...................................................... A-1
Appendix B
Map of the Southeast Edina Redevelopment Project Area and the District ........... B-1
Appendix C
Description of Property to be Included in the District ............................ C-1
Appendix D
Estimated Cash Flow for the District ........................................ D-1
Appendix E
Minnesota Business Assistance Form ....................................... E-1
Appendix F
Redevelopment Qualifications for the District .................................. F-1
Appendix G
Findings Including But/For Qualifications..................................... G-1
Section 1 - Modification to the Redevelopment Plan
for the Southeast Edina Redevelopment Project Area
Foreword
The following text represents a Modification to the Redevelopment Plan for the Southeast Edina
Redevelopment Project Area. This modification represents a continuation of the goals and objectives set forth
in the Redevelopment Plan for the Southeast Edina Redevelopment Project Area. Generally, the substantive
changes include the establishment of the Grandview Redevelopment Tax Increment Financing District.
For further information, a review of the Redevelopment Plan for the Southeast Edina Redevelopment Project
Area, most recently modified on February 18, 2014, is recommended. It is available from the HRA Executive
Director at the City of Edina. Other relevant information is contained in the Tax Increment Financing Plans
for the Tax Increment Financing Districts located within the Southeast Edina Redevelopment Project Area.
Edina Housing and Redevelopment Authority Modification to the Redevelopment Plan for the Southeast Edina Redevelopment Project Area 1-1
Section 2 - Tax Increment Financing Plan
for the Grandview 2 Redevelopment Tax Increment Financing District
Subsection 2-1. Foreword
The Edina Housing and Redevelopment Authority (the "HRA"), the City of Edina (the "City"), staff and
consultants have prepared the following information to expedite the establishment of the Grandview 2
Redevelopment Tax Increment Financing District (the "District"), a redevelopment tax increment financing
district, located in the Southeast Edina Redevelopment Project Area.
Subsection 2-2. Statutory Authority
Within the City, there exist areas where public involvement is necessary to cause redevelopment to occur or
to promote a greater degree of development that allows fulfillment of City objectives. To this end, the HRA
and City have certain statutory powers pursuant to Minnesota Statutes ("M.S."), Sections 469.001 to 469.047,
inclusive, as amended, and M.S., Sections 469.174 to 469.1794, inclusive, as amended (the "Tax Increment
Financing Act" or "TIF Act"), to assist in financing public costs related to this project.
This section contains the Tax Increment Financing Plan (the "TIF Plan") for the District. Other relevant
information is contained in a separate document: the Redevelopment Plan for the Southeast Edina
Redevelopment Project Area adopted September 29, 1977 and modified from time-to-time.
Subsection 2-3. Statement of Objectives
The District currently consists of fifteen parcels of land and adjacent and internal rights-of-way. As a part
of the City’s vision for the Grandview Area featuring 74,000 square feet of civic use, the District is being
created to facilitate the multi-phased construction of approximately 68,000 square feet of mixed-use
development and 321 units of housing in the City. Please see Appendix A for further District information.
The HRA has not entered into an agreement or designated a developer at the time of preparation of this TIF
Plan, but development is likely to occur in phases starting by 2018. This TIF Plan is expected to achieve
many of the objectives outlined in Subsection 3-4 of the Redevelopment Plan for the Southeast Edina
Redevelopment Project Area.
The activities contemplated in the Modification to the Redevelopment Plan and the TIF Plan do not preclude
the undertaking of other qualified development or redevelopment activities. These activities are anticipated
to occur over the life of the Southeast Edina Redevelopment Project Area and the District.
Subsection 2-4. Redevelopment Plan Overview
1. Property to be Acquired - The HRA or City currently owns six parcels of property within the
District. The remaining property or portions thereof located within the District may be
acquired by the HRA or City and is further described in this TIF Plan.
2. Relocation - Relocation services, to the extent required by law, are available pursuant to
M.S., Chapter 117 and other relevant state and federal laws.
3. Upon approval of a developer's plan relating to the project and completion of the necessary
legal requirements, the HRA or City may sell to a developer selected properties that it may
acquire within the District or may lease land or facilities to a developer or similar business
entity.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-1
4. The HRA or City may perform or provide for some or all necessary acquisition, construction,
relocation, demolition, and required utilities and public street work within the District.
Subsection 2-5. Description of Property in the District and Property To Be Acquired
The District encompasses all property and adjacent rights-of-way and abutting roadways identified by the
parcels listed in Appendix C of this TIF Plan. Please also see the map in Appendix B for further information
on the location of the District.
The HRA or City may acquire any parcel within the District including interior and adjacent street rights of
way. Any properties identified for acquisition will be acquired by the HRA or City only in order to
accomplish one or more of the following: storm sewer improvements; provide land for needed public streets,
utilities and facilities; or to carry out land acquisition, site improvements, clearance and/or development to
accomplish the uses and objectives set forth in this plan.
The HRA or City may acquire property by gift, dedication, condemnation or direct purchase from willing
sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when
there is assurance of funding to finance the acquisition and related costs.
Subsection 2-6. Classification of the District
The HRA and City, in determining the need to create a tax increment financing district in accordance with
M.S., Sections 469.174 to 469.1794, as amended, inclusive, find that the District, to be established, is a
redevelopment district pursuant to M.S., Section 469.174, Subd. 10(a)(1) as defined below:
(a) "Redevelopment district" means a type of tax increment financing district consisting of a project,
or portions of a project, within which the authority finds by resolution that one or more of the
following conditions, reasonably distributed throughout the district, exists:
(1) parcels consisting of 70 percent of the area in the district are occupied by buildings, streets,
utilities, paved or gravel parking lots or other similar structures and more than 50 percent
of the buildings, not including outbuildings, are structurally substandard to a degree
requiring substantial renovation or clearance;
(2) The property consists of vacant, unused, underused, inappropriately used, or infrequently
used rail yards, rail storage facilities or excessive or vacated railroad rights-of-way;
(3) tank facilities, or property whose immediately previous use was for tank facilities, as defined
in Section 115C, Subd. 15, if the tank facility:
(i) have or had a capacity of more than one million gallons;
(ii) are located adjacent to rail facilities; or
(iii) have been removed, or are unused, underused, inappropriately used or infrequently
used; or
(4) a qualifying disaster area, as defined in Subd. 10b.
(b) For purposes of this subdivision, "structurally substandard" shall mean containing defects in
structural elements or a combination of deficiencies in essential utilities and facilities, light and
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-2
ventilation, fire protection including adequate egress, layout and condition of interior partitions,
or similar factors, which defects or deficiencies are of sufficient total significance to justify
substantial renovation or clearance.
(c) A building is not structurally substandard if it is in compliance with the building code applicable
to new buildings or could be modified to satisfy the building code at a cost of less than 15
percent of the cost of constructing a new structure of the same square footage and type on the
site. The municipality may find that a building is not disqualified as structurally substandard
under the preceding sentence on the basis of reasonably available evidence, such as the size,
type, and age of the building, the average cost of plumbing, electrical, or structural repairs or
other similar reliable evidence. The municipality may not make such a determination without
an interior inspection of the property, but need not have an independent, expert appraisal
prepared of the cost of repair and rehabilitation of the building. An interior inspection of the
property is not required, if the municipality finds that (1) the municipality or authority is unable
to gain access to the property after using its best efforts to obtain permission from the party that
owns or controls the property; and (2) the evidence otherwise supports a reasonable conclusion
that the building is structurally substandard.
(d) A parcel is deemed to be occupied by a structurally substandard building for purposes of the
finding under paragraph (a) or by the improvement described in paragraph (e) if all of the
following conditions are met:
(1) the parcel was occupied by a substandard building or met the requirements of paragraph
(e), as the case may be, within three years of the filing of the request for certification of the
parcel as part of the district with the county auditor;
(2) the substandard building or the improvements described in paragraph (e) were demolished
or removed by the authority or the demolition or removal was financed by the authority or
was done by a developer under a development agreement with the authority;
(3) the authority found by resolution before the demolition or removal that the parcel was
occupied by a structurally substandard building or met the requirement of paragraph (e) and
that after demolition and clearance the authority intended to include the parcel within a
district; and
(4) upon filing the request for certification of the tax capacity of the parcel as part of a district,
the authority notifies the county auditor that the original tax capacity of the parcel must be
adjusted as provided by § 469.177, subdivision 1, paragraph (f).
(e) For purposes of this subdivision, a parcel is not occupied by buildings, streets, utilities, paved
or gravel parking lots or other similar structures unless 15 percent of the area of the parcel
contains buildings, streets, utilities, paved or gravel parking lots or other similar structures.
(f) For districts consisting of two or more noncontiguous areas, each area must qualify as a
redevelopment district under paragraph (a) to be included in the district, and the entire area of
the district must satisfy paragraph (a).
In meeting the statutory criteria the HRA and City rely on the following facts and findings:
• The District is a redevelopment district consisting of fifteen parcels.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-3
• An inventory shows that parcels consisting of more than 70 percent of the area in the District are
occupied by buildings, streets, utilities, paved or gravel parking lots or other similar structures.
• An inspection of the buildings located within the District finds that more than 50 percent of the buildings
are structurally substandard as defined in the TIF Act. (See Appendix F).
Pursuant to M.S., Section 469.176, Subd. 7, the District does not contain any parcel or part of a parcel that
qualified under the provisions of M.S., Sections 273.111, 273.112, or 273.114 or Chapter 473H for taxes
payable in any of the five calendar years before the filing of the request for certification of the District.
Subsection 2-7. Duration and First Year of Tax Increment of the District
Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration and first year of tax
increment of the District must be indicated within the TIF Plan. Pursuant to M.S., Section 469.176, Subd. 1b.,
the duration of the District will be 25 years after receipt of the first increment by the HRA or City (a total of
26 years of tax increment collection). The HRA or City elects to receive the first tax increment in 2020, which
is no later than four years following the year of approval of the District.
Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or
other changes, would terminate after 2045, or when the TIF Plan is satisfied. The HRA or City reserves the
right to decertify the District prior to the legally required date.
Subsection 2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity
Value/Increment and Notification of Prior Planned Improvements
Pursuant to M.S., Section 469.174, Subd. 7 and M.S., Section 469.177, Subd. 1, the Original Net Tax Capacity
(ONTC) as certified for the District will be based on the market values placed on the property by the assessor
in 2015 for taxes payable 2016.
Pursuant to M.S., Section 469.177, Subds. 1 and 2, the County Auditor shall certify in each year (beginning
in the payment year 2020) the amount by which the original value has increased or decreased as a result of:
1. Change in tax exempt status of property;
2. Reduction or enlargement of the geographic boundaries of the district;
3. Change due to adjustments, negotiated or court-ordered abatements;
4. Change in the use of the property and classification;
5. Change in state law governing class rates; or
6. Change in previously issued building permits.
In any year in which the current Net Tax Capacity (NTC) value of the District declines below the ONTC, no
value will be captured and no tax increment will be payable to the HRA or City.
The original local tax rate for the District will be the local tax rate for taxes payable 2016, assuming the
request for certification is made before June 30, 2016. The ONTC and the Original Local Tax Rates for the
District appear in the tables on the following page.
Pursuant to M.S., Section 469.174 Subd. 4 and M.S., Section 469.177, Subd. 1, 2, and 4, the estimated
Captured Net Tax Capacity (CTC) of the District, within the Southeast Edina Redevelopment Project Area,
upon completion of the projects within the District, will annually approximate tax increment revenues as
shown in the table below. The HRA and City request 100 percent of the available increase in tax capacity
for repayment of its obligations and current expenditures, beginning in the tax year payable 2020. The
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-4
Project Tax Capacity (PTC) listed is an estimate of values when the projects within the District are completed.
Tax Increment District Parcels in Watershed No. 1 (Nine Mile Creek Watershed)
Project Estimated Tax Capacity upon Completion (PTC)$371,572
Original Estimated Net Tax Capacity (ONTC)$46,817
Fiscal Disparities Reduction $103,651
Estimated Captured Tax Capacity (CTC)$221,104
Original Local Tax Rate 1.18106 EstimatedPay 2016
Estimated Annual Tax Increment (CTC x Local Tax Rate) $261,137
Percent Retained by the HRA 100%
Tax capacity includes a 2% inflation factor for the duration of the District. The tax capacity included in this chart is the
estimated tax capacity of the District in year 25. The tax capacity of the District in year one is estimated to be $89,940.
Tax Increment District Parcels in Watershed No. 3 (Minnehaha Creek Watershed)
Project Estimated Tax Capacity upon Completion (PTC) $1,207,886
Original Estimated Net Tax Capacity (ONTC)$10,379
Fiscal Disparities Reduction $15,703
Estimated Captured Tax Capacity (CTC)$1,181,804
Original Local Tax Rate 1.18593 EstimatedPay 2016
Estimated Annual Tax Increment (CTC x Local Tax Rate) $1,401,537
Percent Retained by the HRA 100%
Tax capacity includes a 2% inflation factor for the duration of the District. The tax capacity included in this chart is theestimated tax capacity of the District in year 25. The tax capacity of the District in year one is estimated to be $187,219.
Pursuant to M.S., Section 469.177, Subd. 4, the HRA shall, after a due and diligent search, accompany its
request for certification to the County Auditor or its notice of the District enlargement pursuant to M.S.,
Section 469.175, Subd. 4, with a listing of all properties within the District or area of enlargement for which
building permits have been issued during the eighteen (18) months immediately preceding approval of the
TIF Plan by the municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor shall increase
the original net tax capacity of the District by the net tax capacity of improvements for which a building
permit was issued.
The City has reviewed the area to be included in the District and found no parcels for which building
permits have been issued during the 18 months immediately preceding approval of the TIF Plan by the
City.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-5
Subsection 2-9. Sources of Revenue/Bonds to be Issued
The total estimated tax increment revenues for the District are calculated in Appendix D and shown in the
table below:
SOURCES OF FUNDS TOTAL
Tax Increment $32,479,295
Interest $3,247,929
TOTAL $35,727,224
The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax
increments. The HRA or City reserves the right to incur bonds or other indebtedness to help achieve the
objectives of the TIF Plan. The projects within the District are anticipated to be financed by a pay-as-you-go
note and/or a possible bond issue. Any refunding amounts will be deemed a budgeted cost without a formal
TIF Plan Modification. This provision does not obligate the HRA or City to incur debt. The HRA or City
will issue bonds or incur other debt only upon the determination that such action is in the best interest of the
City.
The HRA or City may issue bonds (as defined in the TIF Act) secured in whole or in part with tax increments
from the District in a maximum principal amount of $21,170,290. Such bonds may be in the form of pay-as-
you-go notes, revenue bonds or notes, general obligation bonds, or interfund loans. This estimate of total
bonded indebtedness is a cumulative statement of authority under this TIF Plan as of the date of approval.
Subsection 2-10. Uses of Funds
The conceptual development program for this portion of the Grandview area included in the District is the
construction of approximately 68,000 square feet of mixed-use development and 321 units of housing in the
City. The HRA and City have determined that it will be necessary to provide assistance to the project(s) for
certain District costs, as described.
The HRA has studied the feasibility of the development or redevelopment of property in and around the
District. To facilitate the establishment and development or redevelopment of the District, this TIF Plan
authorizes the use of tax increment financing to pay for the cost of certain eligible expenses. The estimate
of public costs and uses of funds associated with the District is outlined in the following table. These
estimates establish a budget for the maximum amount of expenditures, but the HRA and City are not
obligated to expend the full amount.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-6
USES OF TAX INCREMENT FUNDS TOTAL
Land/Building Acquisition $1,500,000
Site Improvements/Preparation $1,500,000
Utilities $1,200,000
Other Qualifying Improvements $13,800,000
Administrative Costs (up to 10%)$3,170,290
PROJECT COST TOTAL $21,170,290
Interest $14,556,934
PROJECT AND INTEREST COSTS TOTAL $35,727,224
The project costs utilizing tax increment, including financing costs (interest), listed in the table above does
not exceed the total projected tax increments for the District as shown in Subsection 2-9.
Estimated costs associated with the District are subject to change among categories without a modification
to this TIF Plan as permitted by M.S., Section 469.175. The cost of all activities to be considered for tax
increment financing will not exceed, without formal modification, the budget above pursuant to the applicable
statutory requirements. Pursuant to M.S., Section 469.1763, Subd. 2, no more than 25 percent of the tax
increment paid by property within the District will be spent on activities related to development or
redevelopment outside of the District but within the boundaries of the Southeast Edina Redevelopment
Project Area, (including administrative costs, which are considered to be spent outside of the District) subject
to the limitations as described in this TIF Plan.
Subsection 2-11. Fiscal Disparities Election
Pursuant to M.S., Section 469.177, Subd. 3, the HRA or City may elect one of two methods to calculate fiscal
disparities. If the calculations pursuant to M.S., Section 469.177, Subd. 3, clause b, (within the District) are
followed, the following method of computation shall apply:
(1) The original net tax capacity shall be determined before the application of the fiscal disparity
provisions of Chapter 276A or 473F. The current net tax capacity shall exclude any fiscal
disparity commercial-industrial net tax capacity increase between the original year and the
current year multiplied by the fiscal disparity ratio determined pursuant to M.S., Section
276A.06, subdivision 7 or M.S., Section 473F.08, subdivision 6. Where the original net tax
capacity is equal to or greater than the current net tax capacity, there is no captured tax capacity
and no tax increment determination. Where the original tax capacity is less than the current tax
capacity, the difference between the original net tax capacity and the current net tax capacity
is the captured net tax capacity. This amount less any portion thereof which the authority has
designated, in its tax increment financing plan, to share with the local taxing districts is the
retained captured net tax capacity of the authority.
(2) The county auditor shall exclude the retained captured net tax capacity of the authority from the
net tax capacity of the local taxing districts in determining local taxing district tax rates. The
local tax rates so determined are to be extended against the retained captured net tax capacity
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-7
of the authority as well as the net tax capacity of the local taxing districts. The tax generated by
the extension of the less of (A) the local taxing district tax rates or (B) the original local tax rate
to the retained captured net tax capacity of the authority is the tax increment of the authority.
The HRA will choose to calculate fiscal disparities by clause b.
According to M.S., Section 469.177, Subd. 3:
(c) The method of computation of tax increment applied to a district pursuant to paragraph (a) or
(b) shall remain the same for the duration of the district, except that the governing body may
elect to change its election from the method of computation in paragraph (a) to the method in
paragraph (b).
Subsection 2-12. Business Subsidies
M.S., Section 116J.993 to 116J.995 defines a business subsidy as a “grant, contribution of personal property,
real property, infrastructure, the principal amount of a loan at rates below those commercially available to
the recipient, any reduction or deferral of any tax or any fee, any guarantee of any payment under any loan,
lease or other obligation, or any preferential use of government facilities given to a business.” Also included
in the definition are many forms of economic assistance.
Pursuant to M.S., Section 116J.993, Subd. 3, the following forms of financial assistance are not considered
a business subsidy:
(1) A business subsidy of less than $150,000;
(2) Assistance that is generally available to all businesses or to a general class of similar businesses,
such as a line of business, size, location, or similar general criteria;
(3) Public improvements to buildings or lands owned by the state or local government that serve a
public purpose and do not principally benefit a single business or defined group of businesses at
the time the improvements are made;
(4) Redevelopment property polluted by contaminants as defined in M.S., Section 116J.552, Subd. 3;
(5) Assistance provided for the sole purpose of renovating old or decaying building stock or bringing
it up to code and assistance provided for designated historic preservation districts, provided that
the assistance is equal to or less than 50% of the total cost;
(6) Assistance to provide job readiness and training services if the sole purpose of the assistance is to
provide those services;
(7) Assistance for housing;
(8) Assistance for pollution control or abatement, including assistance for a tax increment financing
hazardous substance subdistrict as defined under M.S., Section 469.174, Subd. 23;
(9) Assistance for energy conservation;
(10) Tax reductions resulting from conformity with federal tax law;
(11) Workers' compensation and unemployment compensation;
(12) Benefits derived from regulation;
(13) Indirect benefits derived from assistance to educational institutions;
(14) Funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, and
bonds issued for the benefit of an organization described in section 501 (c) (3) of the Internal
Revenue Code of 1986, as amended through December 31, 1999;
(15) Assistance for a collaboration between a Minnesota higher education institution and a business;
(16) Assistance for a tax increment financing soils condition district as defined under M.S., Section
469.174, Subd. 19;
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-8
(17) Redevelopment when the recipient's investment in the purchase of the site and in site preparation
is 70 percent or more of the assessor's current year's estimated market value;
(18) General changes in tax increment financing law and other general tax law changes of a principally
technical nature;
(19) Federal assistance until the assistance has been repaid to, and reinvested by, the state or local
government agency;
(20) Funds from dock and wharf bonds issued by a seaway port authority;
(21) Business loans and loan guarantees of $150,000 or less;
(22) Federal loan funds provided through the United States Department of Commerce, Economic
Development Administration; and
(23) Property tax abatements granted under M.S., Section 469.1813 to property that is subject to
valuation under Minnesota Rules, chapter 8100.
The HRA will comply with M.S., Sections 116J.993 to 116J.995 to the extent the tax increment assistance
under this TIF Plan does not fall under any of the above exemptions.
Subsection 2-13. County Road Costs
Pursuant to M.S., Section 469.175, Subd. 1a, the county board may require the HRA or City to pay for all or
part of the cost of county road improvements if the proposed development to be assisted by tax increment
will, in the judgment of the county, substantially increase the use of county roads requiring construction of
road improvements or other road costs and if the road improvements are not scheduled within the next five
years under a capital improvement plan or within five years under another county plan.
If the county elects to use increments to improve county roads, it must notify the HRA or City within forty-
five days of receipt of this TIF Plan. In the opinion of the HRA and City and consultants, the proposed
development outlined in this TIF Plan will have little or no impact upon county roads, therefore the TIF Plan
was not forwarded to the county 45 days prior to the public hearing. The HRA and City are aware that the
county could claim that tax increment should be used for county roads, even after the public hearing.
Subsection 2-14. Estimated Impact on Other Taxing Jurisdictions
The estimated impact on other taxing jurisdictions assumes that the redevelopment contemplated by the TIF
Plan would occur without the creation of the District. However, the HRA or City has determined that such
development or redevelopment would not occur "but for" tax increment financing and that, therefore, the
fiscal impact on other taxing jurisdictions is $0.
The estimated fiscal impact of the District would be as follows on the next page if the "but for" test was not
met:
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-9
IMPACT ON TAX BASE IF “BUT FOR” IS NOT MET FOR PARCELS
IN WATERSHED NO. 1
(Nine Mile Creek Watershed)
Estimated
2015/Pay 2016
Total Net
Tax Capacity
Estimated Captured
Tax Capacity (CTC)
Upon Completion
Percent of CTC
to Entity Total
Hennepin County 1,467,566,893 221,104 0.0151%
City of Edina 112,555,594 221,104 0.1964%
Edina ISD No. 273 93,768,481 221,104 0.2358%
IMPACT OF TAX RATES IF “BUT FOR” IS NOT MET
Estimated
Pay 2016
Extension Rates
Percent
of Total
Rate
CTC
Potential
Annual
Taxes
Hennepin County 0.453140 38.37% 221,104 100,191
City of Edina 0.271220 22.96% 221,104 59,968
Edina ISD No. 273 0.348980 29.55% 221,104 77,161
Other 0.107720 9.12%221,104 23,817
Total 1.181060 100.00%261,137
IMPACT ON TAX BASE IF “BUT FOR” IS NOT MET FOR PARCELS
IN WATERSHED NO. 3
(Minnehaha Creek Watershed)
Estimated
2015/Pay 2016
Total Net
Tax Capacity
Estimated Captured
Tax Capacity (CTC)
Upon Completion
Percent of CTC
to Entity Total
Hennepin County 1,467,566,893 1,181,804 0.0805%
City of Edina 112,555,594 1,181,804 1.0500%
Edina ISD No. 273 93,768,481 1,181,804 1.2603%
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-10
IMPACT OF TAX RATES IF “BUT FOR” IS NOT MET
Estimated
Pay 2016
Extension Rates
Percent
of Total
Rate
CTC
Potential
Annual
Taxes
Hennepin County 0.453140 38.21% 1,181,804 535,523
City of Edina 0.271220 22.87% 1,181,804 320,529
Edina ISD No. 273 0.348980 29.43% 1,181,804 412,426
Other 0.112590 9.49%1,181,804 133,059
Total 1.185930 100.00%1,401,537
The estimates listed above display the Captured Tax Capacity (CTC) when all construction is completed. The
tax rate used for calculations is the estimated Pay 2016 rate as obtained from Hennepin County. The total
net capacity for the entities listed above are based on actual Pay 2016 figures. The District will be certified
under the actual Pay 2016 rates, which were unavailable at the time this TIF Plan was prepared.
Pursuant to M.S. Section 469.175 Subd. 2(b):
(1) Estimate of total tax increment. It is estimated that the total amount of tax increment that will be
generated over the life of the District is $32,479,295;
(2) Probable impact of the District on city provided services and ability to issue debt. Based upon input
from the respective City of Edina departments, probable impacts of the District were obtained. An
impact of the District on police protection is not expected. With any addition of new residents or
businesses, police calls for service will be increased. New developments add an increase in traffic,
and additional overall demands to the call load. The City does not expect that the proposed
development, in and of itself, will necessitate new capital investment.
The probable impact of the District on fire protection is not expected to be significant. Typically new
buildings generate few calls, if any, and are of superior construction. However, with an increase in
residents and traffic, an increase in medical related calls is anticipated. The existing buildings, which
will be eliminated by the new development, have public safety concerns that include several
unprotected old buildings with issues such as access, hydrant locations, and converted structures.
It is expected that the contemplated public improvements will improve access for emergency
response vehicles.
The impact of the District on public infrastructure is expected to be moderate. The development is
not expected to significantly impact any traffic movements external to the area, but new infrastructure
is proposed to enhance traffic movement throughout the District. The current infrastructure for
sanitary sewer, storm sewer and water will be able to handle the additional volume generated from
the proposed development. Based on the development plans, there are minimal additional costs
associated with street maintenance, sweeping, plowing, lighting and sidewalks. The development
in the District is expected to contribute sanitary sewer (SAC) and water (WAC) connection fees.
The probable impact of any District general obligation tax increment bonds on the ability to issue
debt for general fund purposes is expected to be minimal. The City may issue GO TIF Bonds at
some point during the District, but it is not anticipated at this time.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-11
(3) Estimated amount of tax increment attributable to school district levies. M.S., Section 469.175 Subd.
2(b) requires the TIF Plan to calculate “the estimated amount of tax increments over the life of the
District that would be attributable to school district levies, assuming the school district’s share of
the total local tax rate for all taxing jurisdictions remained the same.” The amount of tax increments
over the life of the District that would be attributable to school district levies, assuming the school
district's share of the total local tax rate for all taxing jurisdictions remained the same, is $9,564,599.
The amount is calculated by multiplying the total estimated increment of $32,479,295 by the percent
of the total tax rate attributable to the school district based on the estimated Pay 2016 tax rate of
0.34898;
(4) Estimated amount of tax increment attributable to county levies. M.S., Section 469.175 Subd. 2(b)
requires the TIF Plan to calculate “the estimated amount of tax increments over the life of the District
that would be attributable to county levies, assuming the county’s share of the total local tax rate for
all taxing jurisdictions remained the same.” The amount of tax increments over the life of the District
that would be attributable to county levies, assuming the county's share of the total local tax rate for
all taxing jurisdictions remained the same, is $12,418,262. The amount is calculated by multiplying
the total estimated increment of $32,479,295 by the percent of the total tax rate attributable to the
county based on the estimated Pay 2016 tax rate of 0.45314;
(5) Additional information requested by the county or school district. The City is not aware of any
standard questions in a county or school district written policy regarding tax increment districts and
impact on county or school district services. The county or school district must request additional
information pursuant to M.S. Section 469.175 Subd. 2(b) within 15 days after receipt of the tax
increment financing plan.
A copy of the proposed TIF Plan was furnished to the county and school district for comment on the
anticipated fiscal impacts. Edina Public Schools raised a concern with the proposed TIF Plan. The
City responded to the concerns at the public hearing and with clarifications to the final version of this
TIF Plan.
Subsection 2-15. Supporting Documentation
Pursuant to M.S. Section 469.175, Subd. 1 (a), clause 7 the TIF Plan must contain identification and
description of studies and analyses used to make the determination set forth in M.S. Section 469.175, Subd.
3, clause (b)(2) and the findings are required in the resolution approving the District. Following is a list of
reports and studies on file at the City that support the HRA and City's findings:
• Grandview District Development Framework - April 5, 2012
• Sanitary Sewer Analysis - Barr Engineering February 21, 2014
• Water Distribution System Analysis - Short Elliot Hendrickson Inc. February 21, 2014
• Transportation Summary - WSB & Associates March 6, 2014
• Redevelopment TIF District Qualifications Report - LHB
• Edina Housing and Redevelopment Authority Resolution 2013-04
Subsection 2-16. Definition of Tax Increment Revenues
Pursuant to M.S., Section 469.174, Subd. 25, tax increment revenues derived from a tax increment financing
district include all of the following potential revenue sources:
1. Taxes paid by the captured net tax capacity, but excluding any excess taxes, as computed under M.S.,
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-12
Section 469.177;
2. The proceeds from the sale or lease of property, tangible or intangible, to the extent the property was
purchased by the authority with tax increments;
3. Principal and interest received on loans or other advances made by the authority with tax
increments;
4. Interest or other investment earnings on or from tax increments;
5. Repayments or return of tax increments made to the Authority under agreements for districts for
which the request for certification was made after August 1, 1993; and
6. The market value homestead credit paid to the Authority under M.S., Section 273.1384.
Subsection 2-17. Modifications to the District
In accordance with M.S., Section 469.175, Subd. 4, any:
1. Reduction or enlargement of the geographic area of the District, if the reduction does not meet the
requirements of M.S., Section 469.175, Subd. 4(e);
2. Increase in amount of bonded indebtedness to be incurred;
3. A determination to capitalize interest on debt if that determination was not a part of the original TIF
Plan;
4. Increase in the portion of the captured net tax capacity to be retained by the HRA or City;
5. Increase in the estimate of the cost of the District, including administrative expenses, that will be
paid or financed with tax increment from the District; or
6. Designation of additional property to be acquired by the HRA or City,
shall be approved upon the notice and after the discussion, public hearing and findings required for approval
of the original TIF Plan.
Pursuant to M.S. Section 469.175 Subd. 4(f), the geographic area of the District may be reduced, but shall not
be enlarged after five years following the date of certification of the original net tax capacity by the county
auditor. If a redevelopment district is enlarged, the reasons and supporting facts for the determination that
the addition to the district meets the criteria of M.S., Section 469.174, Subd. 10(a), must be documented in
writing and retained. The requirements of this paragraph do not apply if (1) the only modification is
elimination of parcel(s) from the District and (2)(A) the current net tax capacity of the parcel(s) eliminated
from the District equals or exceeds the net tax capacity of those parcel(s) in the District's original net tax
capacity or (B) the HRA agrees that, notwithstanding M.S., Section 469.177, Subd. 1, the original net tax
capacity will be reduced by no more than the current net tax capacity of the parcel(s) eliminated from the
District.
The HRA or City must notify the County Auditor of any modification to the District. Modifications to the
District in the form of a budget modification or an expansion of the boundaries will be recorded in the TIF
Plan.
Subsection 2-18. Administrative Expenses
In accordance with M.S., Section 469.174, Subd. 14, administrative expenses means all expenditures of the
HRA or City, other than:
1. Amounts paid for the purchase of land;
2. Amounts paid to contractors or others providing materials and services, including architectural and
engineering services, directly connected with the physical development of the real property in the
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-13
District;
3. Relocation benefits paid to or services provided for persons residing or businesses located in the
District;
4. Amounts used to pay principal or interest on, fund a reserve for, or sell at a discount bonds issued
pursuant to M.S., Section 469.178; or
5. Amounts used to pay other financial obligations to the extent those obligations were used to finance
costs described in clauses (1) to (3).
For districts for which the request for certification were made before August 1, 1979, or after June 30, 1982,
and before August 1, 2001, administrative expenses also include amounts paid for services provided by bond
counsel, fiscal consultants, and planning or economic development consultants. Pursuant to M.S., Section
469.176, Subd. 3, tax increment may be used to pay any authorized and documented administrative
expenses for the District up to but not to exceed 10 percent of the total estimated tax increment expenditures
authorized by the TIF Plan or the total tax increments, as defined by M.S., Section 469.174, Subd. 25, clause
(1), from the District, whichever is less.
For districts for which certification was requested after July 31, 2001, no tax increment may be used to pay
any administrative expenses for District costs which exceed ten percent of total estimated tax increment
expenditures authorized by the TIF Plan or the total tax increments, as defined in M.S., Section 469.174, Subd.
25, clause (1), from the District, whichever is less.
Pursuant to M.S., Section 469.176, Subd. 4h, tax increments may be used to pay for the County's actual
administrative expenses incurred in connection with the District and are not subject to the percentage limits
of M.S., Section 469.176, Subd. 3. The county may require payment of those expenses by February 15 of the
year following the year the expenses were incurred.
Pursuant to M.S., Section 469. 177, Subd. 11, the County Treasurer shall deduct an amount (currently .36
percent) of any increment distributed to the HRA or City and the County Treasurer shall pay the amount
deducted to the State Commissioner of Management and Budget for deposit in the state general fund to be
appropriated to the State Auditor for the cost of financial reporting of tax increment financing information
and the cost of examining and auditing authorities' use of tax increment financing. This amount may be
adjusted annually by the Commissioner of Revenue.
Subsection 2-19. Limitation of Increment
The tax increment pledged to the payment of bonds and interest thereon may be discharged and the District
may be terminated if sufficient funds have been irrevocably deposited in the debt service fund or other escrow
account held in trust for all outstanding bonds to provide for the payment of the bonds at maturity or
redemption date.
Pursuant to M.S., Section 469.176, Subd. 6:
if, after four years from the date of certification of the original net tax capacity of the tax
increment financing district pursuant to M.S., Section 469.177, no demolition, rehabilitation
or renovation of property or other site preparation, including qualified improvement of a
street adjacent to a parcel but not installation of utility service including sewer or water
systems, has been commenced on a parcel located within a tax increment financing district
by the authority or by the owner of the parcel in accordance with the tax increment financing
plan, no additional tax increment may be taken from that parcel, and the original net tax
capacity of that parcel shall be excluded from the original net tax capacity of the tax
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-14
increment financing district. If the authority or the owner of the parcel subsequently
commences demolition, rehabilitation or renovation or other site preparation on that parcel
including qualified improvement of a street adjacent to that parcel, in accordance with the
tax increment financing plan, the authority shall certify to the county auditor that the activity
has commenced and the county auditor shall certify the net tax capacity thereof as most
recently certified by the commissioner of revenue and add it to the original net tax capacity
of the tax increment financing district. The county auditor must enforce the provisions of this
subdivision. The authority must submit to the county auditor evidence that the required
activity has taken place for each parcel in the district. The evidence for a parcel must be
submitted by February 1 of the fifth year following the year in which the parcel was certified
as included in the district. For purposes of this subdivision, qualified improvements of a
street are limited to (1) construction or opening of a new street, (2) relocation of a street,
and (3) substantial reconstruction or rebuilding of an existing street.
The HRA or City or a property owner must improve parcels within the District by approximately March 2020
and report such actions to the County Auditor.
Subsection 2-20. Use of Tax Increment
The HRA or City hereby determines that it will use 100 percent of the captured net tax capacity of taxable
property located in the District for the following purposes:
1. To pay the principal of and interest on bonds issued to finance a project;
2. To finance, or otherwise pay public redevelopment costs of the the Southeast Edina Redevelopment
Project Area pursuant to M.S., Sections 469.001 to 469.047;
3. To pay for project costs as identified in the budget set forth in the TIF Plan;
4. To finance, or otherwise pay for other purposes as provided in M.S., Section 469.176, Subd. 4;
5. To pay principal and interest on any loans, advances or other payments made to or on behalf of the
HRA or City or for the benefit of the Southeast Edina Redevelopment Project Area by a developer;
6. To finance or otherwise pay premiums and other costs for insurance or other security guaranteeing
the payment when due of principal of and interest on bonds pursuant to the TIF Plan or pursuant to
M.S., Chapter 462C. M.S., Sections 469.152 through 469.165, and/or M.S., Sections 469.178; and
7. To accumulate or maintain a reserve securing the payment when due of the principal and interest on
the tax increment bonds or bonds issued pursuant to M.S., Chapter 462C, M.S., Sections 469.152
through 469.165, and/or M.S., Sections 469.178.
These revenues shall not be used to circumvent any levy limitations applicable to the City nor for other
purposes prohibited by M.S., Section 469.176, Subd. 4.
Tax increments generated in the District will be paid by Hennepin County to the HRA for the Tax Increment
Fund of said District. The HRA or City will pay to the developer(s) annually an amount not to exceed an
amount as specified in a developer's agreement to reimburse the costs of land acquisition, public
improvements, demolition and relocation, site preparation, and administration. Remaining increment funds
will be used for HRA or City administration (up to 10 percent) and for the costs of public improvement
activities outside the District.
Subsection 2-21. Excess Increments
Excess increments, as defined in M.S., Section 469.176, Subd. 2, shall be used only to do one or more of the
following:
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-15
1. Prepay any outstanding bonds;
2. Discharge the pledge of tax increment for any outstanding bonds;
3. Pay into an escrow account dedicated to the payment of any outstanding bonds; or
4. Return the excess to the County Auditor for redistribution to the respective taxing jurisdictions in
proportion to their local tax rates.
Pursuant to M.S., Section 469.176, Sudb. 2, “The authority shall annually determine the amount of excess
increments for a district, if any. This determination must be based on the tax increment financing plan in
effect on December 31 of the year and the increment and other revenues received as of December 31 of the
year. The authority must spend or return the excess increments under paragraph (c) within nine months after
the end of the year.” In addition, the HRA or City may, subject to the limitations set forth herein, choose to
modify the TIF Plan in order to finance additional public costs in the Southeast Edina Redevelopment Project
Area or the District.
Subsection 2-22. Requirements for Agreements with the Developer
The HRA or City will review any proposal for private development to determine its conformance with the
Redevelopment Plan and with applicable municipal ordinances and codes. To facilitate this effort, the
following documents may be requested for review and approval: site plan, construction, mechanical, and
electrical system drawings, landscaping plan, grading and storm drainage plan, signage system plan, and any
other drawings or narrative deemed necessary by the HRA or City to demonstrate the conformance of the
development with City plans and ordinances. The HRA or City may also use the Agreements to address other
issues related to the development.
Pursuant to M.S., Section 469.176, Subd. 5, no more than 25 percent, by acreage, of the property to be
acquired in the District as set forth in the TIF Plan shall at any time be owned by the HRA or City as a result
of acquisition with the proceeds of bonds issued pursuant to M.S., Section 469.178 to which tax increments
from property acquired is pledged, unless prior to acquisition in excess of 25 percent of the acreage, the HRA
or City concluded an agreement for the development or redevelopment of the property acquired and which
provides recourse for the HRA or City should the development or redevelopment not be completed.
Subsection 2-23. Assessment Agreements
Pursuant to M.S., Section 469.177, Subd. 8, the HRA or City may enter into a written assessment agreement
in recordable form with the developer of property within the District which establishes a minimum market
value of the land and completed improvements for the duration of the District. The assessment agreement
shall be presented to the County Assessor who shall review the plans and specifications for the improvements
to be constructed, review the market value previously assigned to the land upon which the improvements are
to be constructed and, so long as the minimum market value contained in the assessment agreement appears,
in the judgment of the assessor, to be a reasonable estimate, the County Assessor shall also certify the
minimum market value agreement.
Subsection 2-24. Administration of the District
Administration of the District will be handled by the HRA Executive Director.
Subsection 2-25. Annual Disclosure Requirements
Pursuant to M.S., Section 469.175, Subds. 5, 6, and 6b the HRA or City must undertake financial reporting
for all tax increment financing districts to the Office of the State Auditor, County Board and County Auditor
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-16
on or before August 1 of each year. M.S., Section 469.175, Subd. 5 also provides that an annual statement
shall be published in a newspaper of general circulation in the City on or before August 15.
If the City fails to make a disclosure or submit a report containing the information required by M.S., Section
469.175 Subd. 5 and Subd. 6, the Office of the State Auditor will direct the County Auditor to withhold the
distribution of tax increment from the District.
Subsection 2-26. Reasonable Expectations
As required by the TIF Act, in establishing the District, the determination has been made that the anticipated
development would not reasonably be expected to occur solely through private investment within the
reasonably foreseeable future and that the increased market value of the site that could reasonably be expected
to occur without the use of tax increment financing would be less than the increase in the market value
estimated to result from the proposed development after subtracting the present value of the projected tax
increments for the maximum duration of the District permitted by the TIF Plan. In making said determination,
reliance is placed upon HRA and City staff awareness of the feasibility of developing the project site(s) within
the District and will be confirmed upon written representation made by the developer to such effects. A
comparative analysis of estimated market values both with and without establishment of the District and the
use of tax increments has been performed as described above. Such analysis is included with the cashflow
in Appendix D, and indicates that the increase in estimated market value of the proposed development (less
the indicated subtractions) exceeds the estimated market value of the site absent the establishment of the
District and the use of tax increments.
Subsection 2-27. Other Limitations on the Use of Tax Increment
1. General Limitations. All revenue derived from tax increment shall be used in accordance with the TIF
Plan. The revenues shall be used to finance, or otherwise pay public redevelopment costs of the the
Southeast Edina Redevelopment Project Area pursuant to M.S., Sections 469.001 to 469.047. Tax
increments may not be used to circumvent existing levy limit law. No tax increment may be used for the
acquisition, construction, renovation, operation, or maintenance of a building to be used primarily and
regularly for conducting the business of a municipality, county, school district, or any other local unit of
government or the state or federal government. This provision does not prohibit the use of revenues
derived from tax increments for the construction or renovation of a parking structure.
2. Pooling Limitations. At least 75 percent of tax increments from the District must be expended on
activities in the District or to pay bonds, to the extent that the proceeds of the bonds were used to finance
activities within said district or to pay, or secure payment of, debt service on credit enhanced bonds. Not
more than 25 percent of said tax increments may be expended, through a development fund or otherwise,
on activities outside of the District except to pay, or secure payment of, debt service on credit enhanced
bonds. For purposes of applying this restriction, all administrative expenses must be treated as if they
were solely for activities outside of the District.
3. Five Year Limitation on Commitment of Tax Increments. Tax increments derived from the District shall
be deemed to have satisfied the 75 percent test set forth in paragraph (2) above only if the five year rule
set forth in M.S., Section 469.1763, Subd. 3, has been satisfied; and beginning with the sixth year
following certification of the District, 75 percent of said tax increments that remain after expenditures
permitted under said five year rule must be used only to pay previously committed expenditures or credit
enhanced bonds as more fully set forth in M.S., Section 469.1763, Subd. 5.
4. Redevelopment District. At least 90 percent of the revenues derived from tax increment from a
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-17
redevelopment district must be used to finance the cost of correcting conditions that allow designation
of redevelopment and renewal and renovation districts under M.S., Section 469.176 Subd. 4j. These costs
include, but are not limited to, acquiring properties containing structurally substandard buildings or
improvements or hazardous substances, pollution, or contaminants, acquiring adjacent parcels necessary
to provide a site of sufficient size to permit development, demolition and rehabilitation of structures,
clearing of the land, the removal of hazardous substances or remediation necessary for development of
the land, and installation of utilities, roads, sidewalks, and parking facilities for the site. The allocated
administrative expenses of the HRA or City, including the cost of preparation of the development action
response plan, may be included in the qualifying costs.
Subsection 2-28. Summary
The Edina Housing and Redevelopment Authority is establishing the District to preserve and enhance the tax
base, redevelop substandard areas, and provide employment opportunities in the City. The TIF Plan for the
District was prepared by Ehlers & Associates, Inc., 3060 Centre Pointe Drive, Roseville, Minnesota 55113,
telephone (651) 697-8500.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District 2-18
Appendix A
Project Description
The Grandview 2 Tax Increment District is a significant redevelopment effort of the City of Edina. The total
development costs is estimated to be in excess of $200 million. The project is focused on revitalizing the
site of the City’s vacant and substandard former public works facility along with public and outdated private
use sites adjacent to the property. The City envisions a 74,000 square foot civic use for a portion of the public
site with the redevelopment goal to create a vibrant neighborhood center with regional connections to catalyze
high quality, integrated public and private development.
The redevelopment is expected to occur in stages over the next two to six years. The City adopted the
Grandview Development Framework in 2012 to help guide the potential area of change. Central to the
redevelopment effort is the creation of a central commons area consisting of civic, residential, office and other
uses. The City has sought partnership with Frauenshuh Commercial Real Estate Group to collaboratively
plan the re-use of the site, but has not formally entered into any redevelopment agreements with any
developers. The City expects to solicit private partners to maximize economic vitality of the site to
complement the public improvements.
Complimenting the civic use, the framework recommends mixed use development consisting of
approximately 50,000 square feet of office, 18,000 square feet of retail, and 321 units of residential housing
on multiple sites throughout the District. Potential public improvements include pavement, sidewalk, utility,
and street improvements along Eden and Arcadia Avenues adjacent to the site; intersection improvements
to Eden/Vernon, Eden/Arcadia, and Eden/Sherwood; district-wide shared parking structure; new street and
pedestrian transportation connections; and district storm water solutions.
Anticipated Improvement Projects Potentially Funded with Tax Increment
District-Wide Public Improvements
Roadway Improvements
• Eden Avenue
• Arcadia Avenue
• New East-West Street
• New bridge over railway
• New roadway to City-owned parking ramp
Intersection Improvements
• Vernon & Eden
• Eden & Sherwood
• Eden & Arcadia
Structured Parking
Site Specific Improvements:
Environmental Remediation
Site Preparation
Structured Parking
The public costs associated with the project is anticipated to be financed by a combination of city funds
and/or bonds for public infrastructure, and pay-as-you-go notes issued to private developers to reimburse
qualifying costs to facilitate the redevelopment.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District A-1
Appendix B
Map of the Southeast Edina Redevelopment Project Area and the District
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District B-1
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66TH ST W
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44TH ST W
50TH ST W
54TH ST W
58TH ST W
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E
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70TH ST W
76TH ST W
DEWEY HILL RD
VALLEY V
I
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D
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I-494
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HWY 62
HWY 62
/
Engineering Dept.
January, 2016
Project Area
Southeast Edina Redevelopment Project Areaand Grandview 2 TIF District
Grandview 2 TIF District
?úA@
EDEN AV
E
VE
R
N
O
N
A
V
E
AR
C
A
D
I
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A
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BR
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A
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2811721310016
2811721340002
2811721340005
2811721340004
2811721340016
2811721310051
2811721310021
2811721340025
2811721340024
2811721310015
2811721310014
2811721310022
2811721310018
2811721340014
2811721340017
City of EdinaGrandview 2 Tax Increment Financing Redevelopment District
/
Engineering Dept
January, 2016
Grandview 2 TIF District
EDEN AV
E
VER
N
O
N
A
V
E
AR
C
A
D
I
A
A
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R
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D
SHERW
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D
R
O
A
D
Appendix C
Description of Property to be Included in the District
The Grandview 2 TIF District encompasses all property and adjacent rights-of-way and abutting roadways
identified by the parcels listed below.
Parcel Numbers Address Owner
28-117-21-31-0014 5146 Eden Ave City of Edina
28-117-21-31-0015 5146 Eden Ave City of Edina
28-117-21-31-0016 5146 Eden Ave City of Edina
28-117-21-34-0002 5145 Eden Ave Church of Our Lady Grace
28-117-21-31-0018 NA SOO Line Railroad Corp (Canadian
Pacific Railway)
28-117-21-34-0014 NA SOO Line Railroad Corp (Canadian
Pacific Railway)
28-117-21-34-0005 5150 Brookside Ave ISD #273
28-117-21-34-0004 5220 Eden Ave ISD #273
28-117-21-34-0017 NA Jerry’s Enterprises, Inc
28-117-21-34-0025 5201 Vernon Ave Jerry’s Enterprises, Inc
28-117-21-34-0024 5203 Vernon Ave Drs. JT Beecher & JA Rohde
28-117-21-34-0016 5205 Vernon Ave Realty Income Props 3 LLC
28-117-21-31-0021 5116 Brookside Ave City of Edina
28-117-21-31-0022 5120 Brookside Ave City of Edina
28-117-21-31-0051 NA City of Edina
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District C-1
Appendix D
Estimated Cash Flow for the District
This Appendix contains detailed calculations to estimate the cash flow of incremental taxes to be collected
over the life of the District.
These estimates are used to determine the revenue sources pursuant to M.S., Section 469.175, Subd. 1.
These calculations are estimates only. Actual tax increment collected may differ based on the actual market
values assigned to each parcel within the District as determined by the Assessor, tax rates, and annual changes
to tax rates. Please note that actual taxes levied against these parcels and collected could be higher or lower
than these estimates.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District D-1
2/1
7
/
2
0
1
6
Base Value Assumptions - Page 1
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1
11
8
.
1
0
6
%
7
4
,
6
5
6
37
,
3
2
8
(13
4
)
(3,7
1
9
)
33
,
4
7
4
80
,
6
6
3
2
2
0
2
1
0
2
/
0
1
/
2
2
10
0
%
2
3
5
,
6
3
4
(46
,
8
1
7
)
(60
,
2
6
5
)
12
8
,
5
5
3
11
8
.
1
0
6
%
1
5
1
,
8
2
9
75
,
9
1
4
(27
3
)
(7,5
6
4
)
68
,
0
7
7
13
4
,
3
4
1
2.5
2
0
2
2
0
8
/
0
1
/
2
2
10
0
%
2
3
5
,
6
3
4
(46
,
8
1
7
)
(60
,
2
6
5
)
12
8
,
5
5
3
11
8
.
1
0
6
%
1
5
1
,
8
2
9
75
,
9
1
4
(27
3
)
(7,5
6
4
)
68
,
0
7
7
18
6
,
9
6
7
3
2
0
2
2
0
2
/
0
1
/
2
3
10
0
%
2
4
0
,
3
4
7
(46
,
8
1
7
)
(61
,
7
6
9
)
13
1
,
7
6
2
11
8
.
1
0
6
%
1
5
5
,
6
1
8
77
,
8
0
9
(28
0
)
(7,7
5
3
)
69
,
7
7
6
23
9
,
8
4
8
3.5
2
0
2
3
0
8
/
0
1
/
2
3
10
0
%
2
4
0
,
3
4
7
(46
,
8
1
7
)
(61
,
7
6
9
)
13
1
,
7
6
2
11
8
.
1
0
6
%
1
5
5
,
6
1
8
77
,
8
0
9
(28
0
)
(7,7
5
3
)
69
,
7
7
6
29
1
,
6
9
3
4
2
0
2
3
0
2
/
0
1
/
2
4
10
0
%
2
4
5
,
1
5
4
(46
,
8
1
7
)
(63
,
3
0
3
)
13
5
,
0
3
4
11
8
.
1
0
6
%
1
5
9
,
4
8
4
79
,
7
4
2
(28
7
)
(7,9
4
5
)
71
,
5
0
9
34
3
,
7
8
4
4.5
2
0
2
4
0
8
/
0
1
/
2
4
10
0
%
2
4
5
,
1
5
4
(46
,
8
1
7
)
(63
,
3
0
3
)
13
5
,
0
3
4
11
8
.
1
0
6
%
1
5
9
,
4
8
4
79
,
7
4
2
(28
7
)
(7,9
4
5
)
71
,
5
0
9
39
4
,
8
5
3
5
2
0
2
4
0
2
/
0
1
/
2
5
10
0
%
2
5
0
,
0
5
7
(46
,
8
1
7
)
(64
,
8
6
8
)
13
8
,
3
7
2
11
8
.
1
0
6
%
1
6
3
,
4
2
6
81
,
7
1
3
(29
4
)
(8,1
4
2
)
73
,
2
7
7
44
6
,
1
5
8
5.5
2
0
2
5
0
8
/
0
1
/
2
5
10
0
%
2
5
0
,
0
5
7
(46
,
8
1
7
)
(64
,
8
6
8
)
13
8
,
3
7
2
11
8
.
1
0
6
%
1
6
3
,
4
2
6
81
,
7
1
3
(29
4
)
(8,1
4
2
)
73
,
2
7
7
49
6
,
4
5
8
6
2
0
2
5
0
2
/
0
1
/
2
6
10
0
%
2
5
5
,
0
5
8
(46
,
8
1
7
)
(66
,
4
6
4
)
14
1
,
7
7
7
11
8
.
1
0
6
%
1
6
7
,
4
4
8
83
,
7
2
4
(30
1
)
(8,3
4
2
)
75
,
0
8
0
54
6
,
9
8
5
6.5
2
0
2
6
0
8
/
0
1
/
2
6
10
0
%
2
5
5
,
0
5
8
(46
,
8
1
7
)
(66
,
4
6
4
)
14
1
,
7
7
7
11
8
.
1
0
6
%
1
6
7
,
4
4
8
83
,
7
2
4
(30
1
)
(8,3
4
2
)
75
,
0
8
0
59
6
,
5
2
1
7
2
0
2
6
0
2
/
0
1
/
2
7
10
0
%
2
6
0
,
1
5
9
(46
,
8
1
7
)
(68
,
0
9
2
)
14
5
,
2
5
0
11
8
.
1
0
6
%
1
7
1
,
5
4
9
85
,
7
7
5
(30
9
)
(8,5
4
7
)
76
,
9
1
9
64
6
,
2
7
5
7.5
2
0
2
7
0
8
/
0
1
/
2
7
10
0
%
2
6
0
,
1
5
9
(46
,
8
1
7
)
(68
,
0
9
2
)
14
5
,
2
5
0
11
8
.
1
0
6
%
1
7
1
,
5
4
9
85
,
7
7
5
(30
9
)
(8,5
4
7
)
76
,
9
1
9
69
5
,
0
5
4
8
2
0
2
7
0
2
/
0
1
/
2
8
10
0
%
2
6
5
,
3
6
3
(46
,
8
1
7
)
(69
,
7
5
3
)
14
8
,
7
9
3
11
8
.
1
0
6
%
1
7
5
,
7
3
3
87
,
8
6
7
(31
6
)
(8,7
5
5
)
78
,
7
9
5
74
4
,
0
4
3
8.5
2
0
2
8
0
8
/
0
1
/
2
8
10
0
%
2
6
5
,
3
6
3
(46
,
8
1
7
)
(69
,
7
5
3
)
14
8
,
7
9
3
11
8
.
1
0
6
%
1
7
5
,
7
3
3
87
,
8
6
7
(31
6
)
(8,7
5
5
)
78
,
7
9
5
79
2
,
0
7
1
9
2
0
2
8
0
2
/
0
1
/
2
9
10
0
%
2
7
0
,
6
7
0
(46
,
8
1
7
)
(71
,
4
4
7
)
15
2
,
4
0
6
11
8
.
1
0
6
%
1
8
0
,
0
0
1
90
,
0
0
0
(32
4
)
(8,9
6
8
)
80
,
7
0
9
84
0
,
3
0
1
9.5
2
0
2
9
0
8
/
0
1
/
2
9
10
0
%
2
7
0
,
6
7
0
(46
,
8
1
7
)
(71
,
4
4
7
)
15
2
,
4
0
6
11
8
.
1
0
6
%
1
8
0
,
0
0
1
90
,
0
0
0
(32
4
)
(8,9
6
8
)
80
,
7
0
9
88
7
,
5
8
5
10
2
0
2
9
0
2
/
0
1
/
3
0
10
0
%
2
7
6
,
0
8
3
(46
,
8
1
7
)
(73
,
1
7
4
)
15
6
,
0
9
2
11
8
.
1
0
6
%
1
8
4
,
3
5
4
92
,
1
7
7
(33
2
)
(9,1
8
5
)
82
,
6
6
1
93
5
,
0
6
3
10.5
2
0
3
0
0
8
/
0
1
/
3
0
10
0
%
2
7
6
,
0
8
3
(46
,
8
1
7
)
(73
,
1
7
4
)
15
6
,
0
9
2
11
8
.
1
0
6
%
1
8
4
,
3
5
4
92
,
1
7
7
(33
2
)
(9,1
8
5
)
82
,
6
6
1
98
1
,
6
1
1
11
2
0
3
0
0
2
/
0
1
/
3
1
10
0
%
2
8
1
,
6
0
5
(46
,
8
1
7
)
(74
,
9
3
7
)
15
9
,
8
5
1
11
8
.
1
0
6
%
1
8
8
,
7
9
4
94
,
3
9
7
(34
0
)
(9,4
0
6
)
84
,
6
5
1
1,0
2
8
,
3
4
4
11.5
2
0
3
1
0
8
/
0
1
/
3
1
10
0
%
2
8
1
,
6
0
5
(4
6
,
8
1
7
)
(7
4
,
9
3
7
)
15
9
,
8
5
1
11
8
.
1
0
6
%
1
8
8
,
7
9
4
94
,
3
9
7
(3
4
0
)
(9
,
4
0
6
)
84
,
6
5
1
1,0
7
4
,
1
6
1
12
2
0
3
1
0
2
/
0
1
/
3
2
10
0
%
2
8
7
,
2
3
7
(4
6
,
8
1
7
)
(7
6
,
7
3
4
)
16
3
,
6
8
6
11
8
.
1
0
6
%
1
9
3
,
3
2
3
96
,
6
6
1
(3
4
8
)
(9
,
6
3
1
)
86
,
6
8
2
1,1
2
0
,
1
5
8
12.5
2
0
3
2
0
8
/
0
1
/
3
2
10
0
%
2
8
7
,
2
3
7
(4
6
,
8
1
7
)
(7
6
,
7
3
4
)
16
3
,
6
8
6
11
8
.
1
0
6
%
1
9
3
,
3
2
3
96
,
6
6
1
(3
4
8
)
(9
,
6
3
1
)
86
,
6
8
2
1,1
6
5
,
2
5
2
13
2
0
3
2
0
2
/
0
1
/
3
3
10
0
%
2
9
2
,
9
8
2
(4
6
,
8
1
7
)
(7
8
,
5
6
8
)
16
7
,
5
9
7
11
8
.
1
0
6
%
1
9
7
,
9
4
2
98
,
9
7
1
(3
5
6
)
(9
,
8
6
1
)
88
,
7
5
3
1,2
1
0
,
5
1
9
13.5
2
0
3
3
0
8
/
0
1
/
3
3
10
0
%
2
9
2
,
9
8
2
(4
6
,
8
1
7
)
(7
8
,
5
6
8
)
16
7
,
5
9
7
11
8
.
1
0
6
%
1
9
7
,
9
4
2
98
,
9
7
1
(3
5
6
)
(9
,
8
6
1
)
88
,
7
5
3
1,
2
5
4
,
8
9
8
14
2
0
3
3
0
2
/
0
1
/
3
4
10
0
%
2
9
8
,
8
4
1
(4
6
,
8
1
7
)
(8
0
,
4
3
8
)
17
1
,
5
8
6
11
8
.
1
0
6
%
2
0
2
,
6
5
4
10
1
,
3
2
7
(3
6
5
)
(1
0
,
0
9
6
)
90
,
8
6
6
1,
2
9
9
,
4
4
3
14.5
2
0
3
4
0
8
/
0
1
/
3
4
10
0
%
2
9
8
,
8
4
1
(4
6
,
8
1
7
)
(8
0
,
4
3
8
)
17
1
,
5
8
6
11
8
.
1
0
6
%
2
0
2
,
6
5
4
10
1
,
3
2
7
(3
6
5
)
(1
0
,
0
9
6
)
90
,
8
6
6
1,
3
4
3
,
1
1
4
15
2
0
3
4
0
2
/
0
1
/
3
5
10
0
%
3
0
4
,
8
1
8
(4
6
,
8
1
7
)
(8
2
,
3
4
6
)
17
5
,
6
5
6
11
8
.
1
0
6
%
2
0
7
,
4
6
0
10
3
,
7
3
0
(3
7
3
)
(1
0
,
3
3
6
)
93
,
0
2
1
1,
3
8
6
,
9
4
4
15.5
2
0
3
5
0
8
/
0
1
/
3
5
10
0
%
3
0
4
,
8
1
8
(4
6
,
8
1
7
)
(8
2
,
3
4
6
)
17
5
,
6
5
6
11
8
.
1
0
6
%
2
0
7
,
4
6
0
10
3
,
7
3
0
(3
7
3
)
(1
0
,
3
3
6
)
93
,
0
2
1
1,4
2
9
,
9
1
5
16
2
0
3
5
0
2
/
0
1
/
3
6
10
0
%
3
1
0
,
9
1
5
(4
6
,
8
1
7
)
(8
4
,
2
9
2
)
17
9
,
8
0
6
11
8
.
1
0
6
%
2
1
2
,
3
6
2
10
6
,
1
8
1
(3
8
2
)
(1
0
,
5
8
0
)
95
,
2
1
9
1,4
7
3
,
0
3
8
16.5
2
0
3
6
0
8
/
0
1
/
3
6
10
0
%
3
1
0
,
9
1
5
(4
6
,
8
1
7
)
(8
4
,
2
9
2
)
17
9
,
8
0
6
11
8
.
1
0
6
%
2
1
2
,
3
6
2
10
6
,
1
8
1
(3
8
2
)
(1
0
,
5
8
0
)
95
,
2
1
9
1,5
1
5
,
3
1
7
17
2
0
3
6
0
2
/
0
1
/
3
7
10
0
%
3
1
7
,
1
3
3
(4
6
,
8
1
7
)
(8
6
,
2
7
6
)
18
4
,
0
4
0
11
8
.
1
0
6
%
2
1
7
,
3
6
2
10
8
,
6
8
1
(3
9
1
)
(1
0
,
8
2
9
)
97
,
4
6
1
1,5
5
7
,
7
4
2
17.5
2
0
3
7
0
8
/
0
1
/
3
7
10
0
%
3
1
7
,
1
3
3
(4
6
,
8
1
7
)
(8
6
,
2
7
6
)
18
4
,
0
4
0
11
8
.
1
0
6
%
2
1
7
,
3
6
2
10
8
,
6
8
1
(3
9
1
)
(1
0
,
8
2
9
)
97
,
4
6
1
1,5
9
9
,
3
3
5
18
2
0
3
7
0
2
/
0
1
/
3
8
10
0
%
3
2
3
,
4
7
6
(4
6
,
8
1
7
)
(8
8
,
3
0
1
)
18
8
,
3
5
8
11
8
.
1
0
6
%
2
2
2
,
4
6
2
11
1
,
2
3
1
(4
0
0
)
(1
1
,
0
8
3
)
99
,
7
4
8
1,6
4
1
,
0
6
9
18.5
2
0
3
8
0
8
/
0
1
/
3
8
10
0
%
3
2
3
,
4
7
6
(4
6
,
8
1
7
)
(8
8
,
3
0
1
)
18
8
,
3
5
8
11
8
.
1
0
6
%
2
2
2
,
4
6
2
11
1
,
2
3
1
(4
0
0
)
(1
1
,
0
8
3
)
99
,
7
4
8
1,6
8
1
,
9
8
5
19
2
0
3
8
0
2
/
0
1
/
3
9
10
0
%
3
2
9
,
9
4
5
(4
6
,
8
1
7
)
(9
0
,
3
6
5
)
19
2
,
7
6
3
11
8
.
1
0
6
%
2
2
7
,
6
6
4
11
3
,
8
3
2
(4
1
0
)
(1
1
,
3
4
2
)
10
2
,
0
8
0
1,7
2
3
,
0
3
7
19.5
2
0
3
9
0
8
/
0
1
/
3
9
10
0
%
3
2
9
,
9
4
5
(4
6
,
8
1
7
)
(9
0
,
3
6
5
)
19
2
,
7
6
3
11
8
.
1
0
6
%
2
2
7
,
6
6
4
11
3
,
8
3
2
(4
1
0
)
(1
1
,
3
4
2
)
10
2
,
0
8
0
1,7
6
3
,
2
8
4
20
2
0
3
9
0
2
/
0
1
/
4
0
10
0
%
3
3
6
,
5
4
4
(4
6
,
8
1
7
)
(9
2
,
4
7
2
)
19
7
,
2
5
5
11
8
.
1
0
6
%
2
3
2
,
9
7
1
11
6
,
4
8
5
(4
1
9
)
(1
1
,
6
0
7
)
10
4
,
4
5
9
1,8
0
3
,
6
6
2
20.5
2
0
4
0
0
8
/
0
1
/
4
0
10
0
%
3
3
6
,
5
4
4
(4
6
,
8
1
7
)
(9
2
,
4
7
2
)
19
7
,
2
5
5
11
8
.
1
0
6
%
2
3
2
,
9
7
1
11
6
,
4
8
5
(4
1
9
)
(1
1
,
6
0
7
)
10
4
,
4
5
9
1,8
4
3
,
2
4
8
21
2
0
4
0
0
2
/
0
1
/
4
1
10
0
%
3
4
3
,
2
7
5
(4
6
,
8
1
7
)
(9
4
,
6
2
0
)
20
1
,
8
3
8
11
8
.
1
0
6
%
2
3
8
,
3
8
3
11
9
,
1
9
1
(4
2
9
)
(1
1
,
8
7
6
)
10
6
,
8
8
6
1,8
8
2
,
9
5
9
21.5
2
0
4
1
0
8
/
0
1
/
4
1
10
0
%
3
4
3
,
2
7
5
(4
6
,
8
1
7
)
(9
4
,
6
2
0
)
20
1
,
8
3
8
11
8
.
1
0
6
%
2
3
8
,
3
8
3
11
9
,
1
9
1
(4
2
9
)
(1
1
,
8
7
6
)
10
6
,
8
8
6
1,9
2
1
,
8
9
1
22
2
0
4
1
0
2
/
0
1
/
4
2
10
0
%
3
5
0
,
1
4
0
(4
6
,
8
1
7
)
(9
6
,
8
1
1
)
20
6
,
5
1
2
11
8
.
1
0
6
%
2
4
3
,
9
0
3
12
1
,
9
5
2
(4
3
9
)
(1
2
,
1
5
1
)
10
9
,
3
6
1
1,9
6
0
,
9
4
4
22.5
2
0
4
2
0
8
/
0
1
/
4
2
10
0
%
3
5
0
,
1
4
0
(4
6
,
8
1
7
)
(9
6
,
8
1
1
)
20
6
,
5
1
2
11
8
.
1
0
6
%
2
4
3
,
9
0
3
12
1
,
9
5
2
(4
3
9
)
(1
2
,
1
5
1
)
10
9
,
3
6
1
1,9
9
9
,
2
3
2
23
2
0
4
2
0
2
/
0
1
/
4
3
10
0
%
3
5
7
,
1
4
3
(4
6
,
8
1
7
)
(9
9
,
0
4
6
)
21
1
,
2
8
0
11
8
.
1
0
6
%
2
4
9
,
5
3
4
12
4
,
7
6
7
(4
4
9
)
(1
2
,
4
3
2
)
11
1
,
8
8
6
2,0
3
7
,
6
3
5
23.5
2
0
4
3
0
8
/
0
1
/
4
3
10
0
%
3
5
7
,
1
4
3
(4
6
,
8
1
7
)
(9
9
,
0
4
6
)
21
1
,
2
8
0
11
8
.
1
0
6
%
2
4
9
,
5
3
4
12
4
,
7
6
7
(4
4
9
)
(1
2
,
4
3
2
)
11
1
,
8
8
6
2,0
7
5
,
2
8
5
24
2
0
4
3
0
2
/
0
1
/
4
4
10
0
%
3
6
4
,
2
8
6
(4
6
,
8
1
7
)
(1
0
1
,
3
2
6
)
21
6
,
1
4
3
11
8
.
1
0
6
%
2
5
5
,
2
7
8
12
7
,
6
3
9
(4
6
0
)
(1
2
,
7
1
8
)
11
4
,
4
6
2
2,1
1
3
,
0
4
7
24.5
2
0
4
4
0
8
/
0
1
/
4
4
10
0
%
3
6
4
,
2
8
6
(4
6
,
8
1
7
)
(1
0
1
,
3
2
6
)
21
6
,
1
4
3
11
8
.
1
0
6
%
2
5
5
,
2
7
8
12
7
,
6
3
9
(4
6
0
)
(1
2
,
7
1
8
)
11
4
,
4
6
2
2,1
5
0
,
0
6
8
25
2
0
4
4
0
2
/
0
1
/
4
5
10
0
%
3
7
1
,
5
7
2
(4
6
,
8
1
7
)
(1
0
3
,
6
5
1
)
22
1
,
1
0
3
11
8
.
1
0
6
%
2
6
1
,
1
3
6
13
0
,
5
6
8
(4
7
0
)
(1
3
,
0
1
0
)
11
7
,
0
8
8
2,1
8
7
,
1
9
6
25.5
2
0
4
5
0
8
/
0
1
/
4
5
10
0
%
3
7
1
,
5
7
2
(4
6
,
8
1
7
)
(1
0
3
,
6
5
1
)
22
1
,
1
0
3
11
8
.
1
0
6
%
2
6
1
,
1
3
6
13
0
,
5
6
8
(4
7
0
)
(1
3
,
0
1
0
)
11
7
,
0
8
8
2,2
2
3
,
5
9
6
26
2
0
4
5
0
2
/
0
1
/
4
6
T
o
t
a
l
4,
9
7
0
,
0
0
3
(1
7
,
8
9
2
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9
5
,
2
1
1
)
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4
5
6
,
8
9
9
Pr
e
s
e
n
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a
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u
e
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r
o
m
0
8
/
0
1
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2
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r
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s
e
n
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a
l
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e
R
a
t
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4
.
0
0
%
2,
4
7
9
,
5
8
9
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,
9
2
7
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4
7
,
0
6
6
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2
2
3
,
5
9
6
Pr
e
p
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d
b
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&
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r
elim WD 1 (1.7.2016)
2/1
8
/
2
0
1
6
Base Value Assumptions - Page 1
Gr
a
n
d
v
i
e
w
R
e
d
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s
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m
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:
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2
7
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3
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#
:
Ex
e
m
p
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l
a
s
s
R
a
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(
E
x
e
m
p
t
)
0.00%
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r
s
t
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e
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20
1
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m
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.
)
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i
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e
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r
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m
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Fir
s
t
$
1
5
0
,
0
0
0
1.50%
In
f
l
a
t
i
o
n
R
a
t
e
-
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v
e
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y
Y
e
a
r
:
2.
0
0
%
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e
r
$
1
5
0
,
0
0
0
2.00%
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t
e
r
e
s
t
R
a
t
e
:
4.
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0
%
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m
m
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c
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a
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s
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a
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l
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e
s
e
n
t
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a
l
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a
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g
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1
6
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n
t
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l
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o
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g
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l
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s
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r
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e
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F
e
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1
7
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l
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f
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d
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y
2
0
1
6
Fir
s
t
$
1
0
0
,
0
0
0
0
.
7
5
%
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s
h
f
l
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w
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s
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m
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t
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a
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e
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p
m
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:
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0
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v
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1
0
0
,
0
0
0
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2
5
%
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a
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2
6
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n
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t
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5
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s
t
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5
0
0
,
0
0
0
1.00%
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s
c
a
l
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i
s
p
a
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l
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t
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u
t
s
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d
e
(
A
)
,
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n
s
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d
e
(
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)
,
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r
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A
]
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s
i
d
e
(
B
)
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e
r
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5
0
0
,
0
0
0
1.25%
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c
r
e
m
e
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t
a
l
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i
s
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c
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m
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s
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u
t
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o
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a
t
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o
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.
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8
%
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a
y
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0
1
6
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r
e
l
i
m
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9
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8
9
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9
10
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,
5
8
4
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7
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0
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0
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10
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3
8
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9
4
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9
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8
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9
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5
21
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4
3
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9
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5
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4
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6
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9
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,
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8
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8
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0
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4
10
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7
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,
9
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4
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9
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2
4
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1
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8
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9
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5
46
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6
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7
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0
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4
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9
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4
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9
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8
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9
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7
5
46
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6
5
7
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8
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8
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9
9
6
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0
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5
10
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8
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8
7
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7
9
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4
3
6
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79
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8
.
5
9
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9
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3
2
5
46
9
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6
6
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6
9
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7
9
7
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42
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1
7
5
2,5
9
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8
8
6
5.5
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0
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5
0
8
/
0
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/
2
5
10
0
%
8
1
2
,
8
7
3
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,
3
7
9
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(10
,
4
3
6
)
79
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,
0
5
8
11
8
.
5
9
3
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9
3
9
,
3
2
5
46
9
,
6
6
2
(1,
6
9
1
)
(46
,
7
9
7
)
42
1
,
1
7
5
2,8
8
0
,
9
9
3
6
2
0
2
5
0
2
/
0
1
/
2
6
10
0
%
8
2
9
,
1
3
0
(10
,
3
7
9
)
(10
,
6
5
3
)
80
8
,
0
9
8
11
8
.
5
9
3
%
9
5
8
,
3
4
8
47
9
,
1
7
4
(1,
7
2
5
)
(47
,
7
4
5
)
42
9
,
7
0
4
3,1
7
0
,
1
7
1
6.5
2
0
2
6
0
8
/
0
1
/
2
6
10
0
%
8
2
9
,
1
3
0
(10
,
3
7
9
)
(10
,
6
5
3
)
80
8
,
0
9
8
11
8
.
5
9
3
%
9
5
8
,
3
4
8
47
9
,
1
7
4
(1,
7
2
5
)
(47
,
7
4
5
)
42
9
,
7
0
4
3,4
5
3
,
6
8
0
7
2
0
2
6
0
2
/
0
1
/
2
7
10
0
%
8
4
5
,
7
1
3
(10
,
3
7
9
)
(10
,
8
7
4
)
82
4
,
4
6
0
11
8
.
5
9
3
%
9
7
7
,
7
5
2
48
8
,
8
7
6
(1,
7
6
0
)
(48
,
7
1
2
)
43
8
,
4
0
4
3,7
3
7
,
2
5
7
7.5
2
0
2
7
0
8
/
0
1
/
2
7
10
0
%
8
4
5
,
7
1
3
(10
,
3
7
9
)
(10
,
8
7
4
)
82
4
,
4
6
0
11
8
.
5
9
3
%
9
7
7
,
7
5
2
48
8
,
8
7
6
(1,
7
6
0
)
(48
,
7
1
2
)
43
8
,
4
0
4
4,0
1
5
,
2
7
3
8
2
0
2
7
0
2
/
0
1
/
2
8
10
0
%
8
6
2
,
6
2
7
(10
,
3
7
9
)
(11
,
1
0
0
)
84
1
,
1
4
9
11
8
.
5
9
3
%
9
9
7
,
5
4
3
49
8
,
7
7
2
(1,
7
9
6
)
(49
,
6
9
8
)
44
7
,
2
7
8
4,2
9
3
,
3
5
6
8.5
2
0
2
8
0
8
/
0
1
/
2
8
10
0
%
8
6
2
,
6
2
7
(10
,
3
7
9
)
(11
,
1
0
0
)
84
1
,
1
4
9
11
8
.
5
9
3
%
9
9
7
,
5
4
3
49
8
,
7
7
2
(1,
7
9
6
)
(49
,
6
9
8
)
44
7
,
2
7
8
4,5
6
5
,
9
8
6
9
2
0
2
8
0
2
/
0
1
/
2
9
10
0
%
8
7
9
,
8
8
0
(10
,
3
7
9
)
(11
,
3
3
0
)
85
8
,
1
7
1
11
8
.
5
9
3
%
1
,
0
1
7
,
7
3
1
50
8
,
8
6
5
(1,
8
3
2
)
(50
,
7
0
3
)
45
6
,
3
3
0
4,8
3
8
,
6
8
0
9.5
2
0
2
9
0
8
/
0
1
/
2
9
10
0
%
8
7
9
,
8
8
0
(10
,
3
7
9
)
(11
,
3
3
0
)
85
8
,
1
7
1
11
8
.
5
9
3
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,
0
1
7
,
7
3
1
50
8
,
8
6
5
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8
3
2
)
(50
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7
0
3
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45
6
,
3
3
0
5,1
0
6
,
0
2
6
10
2
0
2
9
0
2
/
0
1
/
3
0
10
0
%
8
9
7
,
4
7
7
(10
,
3
7
9
)
(11
,
5
6
4
)
87
5
,
5
3
4
11
8
.
5
9
3
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1
,
0
3
8
,
3
2
2
51
9
,
1
6
1
(1,
8
6
9
)
(51
,
7
2
9
)
46
5
,
5
6
3
5,3
7
3
,
4
3
4
10.5
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0
3
0
0
8
/
0
1
/
3
0
10
0
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8
9
7
,
4
7
7
(10
,
3
7
9
)
(11
,
5
6
4
)
87
5
,
5
3
4
11
8
.
5
9
3
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1
,
0
3
8
,
3
2
2
51
9
,
1
6
1
(1,
8
6
9
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(51
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7
2
9
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46
5
,
5
6
3
5,6
3
5
,
5
9
8
11
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0
3
0
0
2
/
0
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/
3
1
10
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5
,
4
2
7
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,
3
7
9
)
(11
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8
0
4
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2
4
4
11
8
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5
9
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,
0
5
9
,
3
2
5
52
9
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6
6
3
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9
0
7
)
(52
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7
7
6
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4
,
9
8
0
5,8
9
7
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8
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0
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0
3
1
0
8
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0
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/
3
1
10
0
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9
1
5
,
4
2
7
(1
0
,
3
7
9
)
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1
,
8
0
4
)
89
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,
2
4
4
11
8
.
5
9
3
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1
,
0
5
9
,
3
2
5
52
9
,
6
6
3
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,
9
0
7
)
(5
2
,
7
7
6
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47
4
,
9
8
0
6,1
5
4
,
9
0
2
12
2
0
3
1
0
2
/
0
1
/
3
2
10
0
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3
3
,
7
3
5
(1
0
,
3
7
9
)
(1
2
,
0
4
8
)
91
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,
3
0
9
11
8
.
5
9
3
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1
,
0
8
0
,
7
4
8
54
0
,
3
7
4
(1
,
9
4
5
)
(5
3
,
8
4
3
)
48
4
,
5
8
6
6,4
1
2
,
0
3
9
12.5
2
0
3
2
0
8
/
0
1
/
3
2
10
0
%
9
3
3
,
7
3
5
(1
0
,
3
7
9
)
(1
2
,
0
4
8
)
91
1
,
3
0
9
11
8
.
5
9
3
%
1
,
0
8
0
,
7
4
8
54
0
,
3
7
4
(1
,
9
4
5
)
(5
3
,
8
4
3
)
48
4
,
5
8
6
6,6
6
4
,
1
3
5
13
2
0
3
2
0
2
/
0
1
/
3
3
10
0
%
9
5
2
,
4
1
0
(1
0
,
3
7
9
)
(1
2
,
2
9
7
)
92
9
,
7
3
4
11
8
.
5
9
3
%
1
,
1
0
2
,
6
0
0
55
1
,
3
0
0
(1
,
9
8
5
)
(5
4
,
9
3
2
)
49
4
,
3
8
4
6,9
1
6
,
2
8
4
13.5
2
0
3
3
0
8
/
0
1
/
3
3
10
0
%
9
5
2
,
4
1
0
(1
0
,
3
7
9
)
(1
2
,
2
9
7
)
92
9
,
7
3
4
11
8
.
5
9
3
%
1
,
1
0
2
,
6
0
0
55
1
,
3
0
0
(1
,
9
8
5
)
(5
4
,
9
3
2
)
49
4
,
3
8
4
7,1
6
3
,
4
9
0
14
2
0
3
3
0
2
/
0
1
/
3
4
10
0
%
9
7
1
,
4
5
8
(1
0
,
3
7
9
)
(1
2
,
5
5
1
)
94
8
,
5
2
9
11
8
.
5
9
3
%
1
,
1
2
4
,
8
8
8
56
2
,
4
4
4
(2
,
0
2
5
)
(5
6
,
0
4
2
)
50
4
,
3
7
8
7,4
1
0
,
7
4
7
14.5
2
0
3
4
0
8
/
0
1
/
3
4
10
0
%
9
7
1
,
4
5
8
(1
0
,
3
7
9
)
(1
2
,
5
5
1
)
94
8
,
5
2
9
11
8
.
5
9
3
%
1
,
1
2
4
,
8
8
8
56
2
,
4
4
4
(2
,
0
2
5
)
(5
6
,
0
4
2
)
50
4
,
3
7
8
7,
6
5
3
,
1
5
7
15
2
0
3
4
0
2
/
0
1
/
3
5
10
0
%
9
9
0
,
8
8
7
(1
0
,
3
7
9
)
(1
2
,
8
1
0
)
96
7
,
6
9
9
11
8
.
5
9
3
%
1
,
1
4
7
,
6
2
3
57
3
,
8
1
1
(2
,
0
6
6
)
(5
7
,
1
7
5
)
51
4
,
5
7
1
7,
8
9
5
,
6
1
6
15.5
2
0
3
5
0
8
/
0
1
/
3
5
10
0
%
9
9
0
,
8
8
7
(1
0
,
3
7
9
)
(1
2
,
8
1
0
)
96
7
,
6
9
9
11
8
.
5
9
3
%
1
,
1
4
7
,
6
2
3
57
3
,
8
1
1
(2
,
0
6
6
)
(5
7
,
1
7
5
)
51
4
,
5
7
1
8,1
3
3
,
3
2
1
16
2
0
3
5
0
2
/
0
1
/
3
6
10
0
%
1
,
0
1
0
,
7
0
5
(1
0
,
3
7
9
)
(1
3
,
0
7
4
)
98
7
,
2
5
2
11
8
.
5
9
3
%
1
,
1
7
0
,
8
1
2
58
5
,
4
0
6
(2
,
1
0
7
)
(5
8
,
3
3
0
)
52
4
,
9
6
9
8,3
7
1
,
0
7
4
16.5
2
0
3
6
0
8
/
0
1
/
3
6
10
0
%
1
,
0
1
0
,
7
0
5
(1
0
,
3
7
9
)
(1
3
,
0
7
4
)
98
7
,
2
5
2
11
8
.
5
9
3
%
1
,
1
7
0
,
8
1
2
58
5
,
4
0
6
(2
,
1
0
7
)
(5
8
,
3
3
0
)
52
4
,
9
6
9
8,6
0
4
,
1
6
6
17
2
0
3
6
0
2
/
0
1
/
3
7
10
0
%
1
,
0
3
0
,
9
1
9
(1
0
,
3
7
9
)
(1
3
,
3
4
4
)
1,
0
0
7
,
1
9
7
11
8
.
5
9
3
%
1
,
1
9
4
,
4
6
5
59
7
,
2
3
2
(2
,
1
5
0
)
(5
9
,
5
0
8
)
53
5
,
5
7
4
8,8
3
7
,
3
0
3
17.5
2
0
3
7
0
8
/
0
1
/
3
7
10
0
%
1
,
0
3
0
,
9
1
9
(1
0
,
3
7
9
)
(1
3
,
3
4
4
)
1,
0
0
7
,
1
9
7
11
8
.
5
9
3
%
1
,
1
9
4
,
4
6
5
59
7
,
2
3
2
(2
,
1
5
0
)
(5
9
,
5
0
8
)
53
5
,
5
7
4
9,0
6
5
,
8
7
0
18
2
0
3
7
0
2
/
0
1
/
3
8
10
0
%
1
,
0
5
1
,
5
3
8
(1
0
,
3
7
9
)
(1
3
,
6
1
9
)
1,
0
2
7
,
5
4
0
11
8
.
5
9
3
%
1
,
2
1
8
,
5
9
1
60
9
,
2
9
5
(2
,
1
9
3
)
(6
0
,
7
1
0
)
54
6
,
3
9
2
9,2
9
4
,
4
8
0
18.5
2
0
3
8
0
8
/
0
1
/
3
8
10
0
%
1
,
0
5
1
,
5
3
8
(1
0
,
3
7
9
)
(1
3
,
6
1
9
)
1,
0
2
7
,
5
4
0
11
8
.
5
9
3
%
1
,
2
1
8
,
5
9
1
60
9
,
2
9
5
(2
,
1
9
3
)
(6
0
,
7
1
0
)
54
6
,
3
9
2
9,5
1
8
,
6
0
9
19
2
0
3
8
0
2
/
0
1
/
3
9
10
0
%
1
,
0
7
2
,
5
6
8
(1
0
,
3
7
9
)
(1
3
,
8
9
9
)
1,
0
4
8
,
2
9
1
11
8
.
5
9
3
%
1
,
2
4
3
,
1
9
9
62
1
,
6
0
0
(2
,
2
3
8
)
(6
1
,
9
3
6
)
55
7
,
4
2
6
9,7
4
2
,
7
7
9
19.5
2
0
3
9
0
8
/
0
1
/
3
9
10
0
%
1
,
0
7
2
,
5
6
8
(1
0
,
3
7
9
)
(1
3
,
8
9
9
)
1,
0
4
8
,
2
9
1
11
8
.
5
9
3
%
1
,
2
4
3
,
1
9
9
62
1
,
6
0
0
(2
,
2
3
8
)
(6
1
,
9
3
6
)
55
7
,
4
2
6
9,9
6
2
,
5
5
5
20
2
0
3
9
0
2
/
0
1
/
4
0
10
0
%
1
,
0
9
4
,
0
2
0
(1
0
,
3
7
9
)
(1
4
,
1
8
5
)
1,
0
6
9
,
4
5
6
11
8
.
5
9
3
%
1
,
2
6
8
,
3
0
0
63
4
,
1
5
0
(2
,
2
8
3
)
(6
3
,
1
8
7
)
56
8
,
6
8
0
10
,
1
8
2
,
3
7
1
20.5
2
0
4
0
0
8
/
0
1
/
4
0
10
0
%
1
,
0
9
4
,
0
2
0
(1
0
,
3
7
9
)
(1
4
,
1
8
5
)
1,
0
6
9
,
4
5
6
11
8
.
5
9
3
%
1
,
2
6
8
,
3
0
0
63
4
,
1
5
0
(2
,
2
8
3
)
(6
3
,
1
8
7
)
56
8
,
6
8
0
10
,
3
9
7
,
8
7
7
21
2
0
4
0
0
2
/
0
1
/
4
1
10
0
%
1
,
1
1
5
,
9
0
0
(1
0
,
3
7
9
)
(1
4
,
4
7
7
)
1,
0
9
1
,
0
4
5
11
8
.
5
9
3
%
1
,
2
9
3
,
9
0
2
64
6
,
9
5
1
(2
,
3
2
9
)
(6
4
,
4
6
2
)
58
0
,
1
6
0
10
,
6
1
3
,
4
2
3
21.5
2
0
4
1
0
8
/
0
1
/
4
1
10
0
%
1
,
1
1
5
,
9
0
0
(1
0
,
3
7
9
)
(1
4
,
4
7
7
)
1,
0
9
1
,
0
4
5
11
8
.
5
9
3
%
1
,
2
9
3
,
9
0
2
64
6
,
9
5
1
(2
,
3
2
9
)
(6
4
,
4
6
2
)
58
0
,
1
6
0
10
,
8
2
4
,
7
4
2
22
2
0
4
1
0
2
/
0
1
/
4
2
10
0
%
1
,
1
3
8
,
2
1
8
(1
0
,
3
7
9
)
(1
4
,
7
7
4
)
1,
1
1
3
,
0
6
5
11
8
.
5
9
3
%
1
,
3
2
0
,
0
1
7
66
0
,
0
0
9
(2
,
3
7
6
)
(6
5
,
7
6
3
)
59
1
,
8
6
9
11
,
0
3
6
,
0
9
9
22.5
2
0
4
2
0
8
/
0
1
/
4
2
10
0
%
1
,
1
3
8
,
2
1
8
(1
0
,
3
7
9
)
(1
4
,
7
7
4
)
1,
1
1
3
,
0
6
5
11
8
.
5
9
3
%
1
,
3
2
0
,
0
1
7
66
0
,
0
0
9
(2
,
3
7
6
)
(6
5
,
7
6
3
)
59
1
,
8
6
9
11
,
2
4
3
,
3
1
2
23
2
0
4
2
0
2
/
0
1
/
4
3
10
0
%
1
,
1
6
0
,
9
8
3
(1
0
,
3
7
9
)
(1
5
,
0
7
8
)
1,
1
3
5
,
5
2
6
11
8
.
5
9
3
%
1
,
3
4
6
,
6
5
4
67
3
,
3
2
7
(2
,
4
2
4
)
(6
7
,
0
9
0
)
60
3
,
8
1
3
11
,
4
5
0
,
5
6
1
23.5
2
0
4
3
0
8
/
0
1
/
4
3
10
0
%
1
,
1
6
0
,
9
8
3
(1
0
,
3
7
9
)
(1
5
,
0
7
8
)
1,
1
3
5
,
5
2
6
11
8
.
5
9
3
%
1
,
3
4
6
,
6
5
4
67
3
,
3
2
7
(2
,
4
2
4
)
(6
7
,
0
9
0
)
60
3
,
8
1
3
11
,
6
5
3
,
7
4
7
24
2
0
4
3
0
2
/
0
1
/
4
4
10
0
%
1
,
1
8
4
,
2
0
2
(1
0
,
3
7
9
)
(1
5
,
3
8
8
)
1,
1
5
8
,
4
3
6
11
8
.
5
9
3
%
1
,
3
7
3
,
8
2
4
68
6
,
9
1
2
(2
,
4
7
3
)
(6
8
,
4
4
4
)
61
5
,
9
9
5
11
,
8
5
6
,
9
6
8
24.5
2
0
4
4
0
8
/
0
1
/
4
4
10
0
%
1
,
1
8
4
,
2
0
2
(1
0
,
3
7
9
)
(1
5
,
3
8
8
)
1,
1
5
8
,
4
3
6
11
8
.
5
9
3
%
1
,
3
7
3
,
8
2
4
68
6
,
9
1
2
(2
,
4
7
3
)
(6
8
,
4
4
4
)
61
5
,
9
9
5
12
,
0
5
6
,
2
0
3
25
2
0
4
4
0
2
/
0
1
/
4
5
10
0
%
1
,
2
0
7
,
8
8
6
(1
0
,
3
7
9
)
(1
5
,
7
0
3
)
1,
1
8
1
,
8
0
4
11
8
.
5
9
3
%
1
,
4
0
1
,
5
3
7
70
0
,
7
6
8
(2
,
5
2
3
)
(6
9
,
8
2
5
)
62
8
,
4
2
1
12
,
2
5
5
,
4
7
3
25.5
2
0
4
5
0
8
/
0
1
/
4
5
10
0
%
1
,
2
0
7
,
8
8
6
(1
0
,
3
7
9
)
(1
5
,
7
0
3
)
1,
1
8
1
,
8
0
4
11
8
.
5
9
3
%
1
,
4
0
1
,
5
3
7
70
0
,
7
6
8
(2
,
5
2
3
)
(6
9
,
8
2
5
)
62
8
,
4
2
1
12
,
4
5
0
,
8
3
5
26
2
0
4
5
0
2
/
0
1
/
4
6
T
o
t
a
l
27
,
6
2
6
,
6
4
0
(9
9
,
4
5
6
)
(2
,
7
5
2
,
7
1
8
)
24
,
7
7
4
,
4
6
6
Pr
e
s
e
n
t
V
a
l
u
e
F
r
o
m
0
8
/
0
1
/
2
0
1
6
P
r
e
s
e
n
t
V
a
l
u
e
R
a
t
e
4
.
0
0
%
13
,
8
8
4
,
2
4
5
(4
9
,
9
8
3
)
(1
,
3
8
3
,
4
2
6
)
12
,
4
5
0
,
8
3
5
Pr
e
p
a
r
e
d
b
y
E
h
l
e
r
s
&
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Appendix E
Minnesota Business Assistance Form
(Minnesota Department of Employment and Economic Development)
A Minnesota Business Assistance Form (MBAF) should be used to report and/or update each calendar year's
activity by April 1 of the following year.
Please see the Minnesota Department of Employment and Economic Development (DEED) website at
http://www.deed.state.mn.us/Community/subsidies/MBAFForm.htm for information and forms.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District E-1
Appendix F
Redevelopment Qualifications for the District
LHB, Inc. prepared a report dated February 5, 2016 that fully describes the inspection procedures and results
for determining the qualifications of the Grandview 2 TIF District as a Redevelopment District.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District F-1
Report of Inspection Procedures and Results for Determining Qualifications of a
Tax Increment Financing District as a Redevelopment District
Grandview 2 Redevelopment TIF District
Edina, Minnesota
February 5, 2016 Prepared For the
City of Edina
Prepared by: LHB, Inc.
701 Washington Avenue North, Suite 200 Minneapolis, Minnesota 55401
LHB Project No. 130153.01
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 12 Final Report
TABLE OF CONTENTS
PART 1 – EXECUTIVE SUMMARY ................................................................................ 2
Purpose of Evaluation ................................................................................ 2
Scope of Work ........................................................................................... 3
Conclusion ................................................................................................. 3
PART 2 – MINNESOTA STATUTE 469.174, SUBDIVISION 10 REQUIREMENTS ....... 3
A. Coverage Test ...................................................................................... 4
B. Condition of Buildings Test ................................................................... 4
C. Distribution of Substandard Buildings ................................................... 5
PART 3 – PROCEDURES FOLLOWED ......................................................................... 6
PART 4 – FINDINGS ...................................................................................................... 6
A. Coverage Test ...................................................................................... 6
B. Condition of Building Test ..................................................................... 7
1. Building Inspection .................................................................... 7
2. Replacement Cost ..................................................................... 8
3. Code Deficiencies ..................................................................... 8
4. System Condition Deficiencies .................................................. 9
C. Distribution of Substandard Structures ................................................. 9
PART 5 - TEAM CREDENTIALS .................................................................................. 11
APPENDIX A Property Condition Assessment Summary Sheet
APPENDIX B Building Code, Condition Deficiency and Context Analysis Reports
APPENDIX C Building Replacement Cost Reports
Code Deficiency Cost Reports
Photographs
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 12 Final Report
PART 1 – EXECUTIVE SUMMARY
PURPOSE OF EVALUATION LHB was hired by the City of Edina to inspect and evaluate the properties within a Tax Increment
Financing Redevelopment District (“TIF District”) proposed to be established by the City. The proposed TIF District is bounded by Arcadia Avenue, Eden Avenue, Link Road, Vernon Avenue and
Gus Young Lane (Diagram 1). The purpose of LHB’s work is to determine whether the proposed TIF District meets the statutory requirements for coverage, and whether five (5) buildings on fifteen
(15) parcels, located within the proposed TIF District, meet the qualifications required for a Redevelopment District.
Diagram 1 – Proposed TIF District
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 3 of 12 Final Report
SCOPE OF WORK The proposed TIF District consists of fifteen (15) parcels with five (5) buildings. One (1) building was inspected on March 12, 2013, and was declared substandard by Edina HRA Resolution (2013.04)
on March 19, 2013 prior to demolition of the building. Two (2) buildings were inspected on December 23, 2015. The two (2) remaining buildings were not inspected as we assumed they would not be found
substandard based on our exterior evaluation. Building code and Condition Deficiency Reports for the buildings that were inspected are located in Appendix B.
CONCLUSION After inspecting and evaluating the properties within the proposed TIF District and applying current
statutory criteria for a Redevelopment District under Minnesota Statutes, Section 469.174, Subdivision 10, it is our professional opinion that the proposed TIF District qualifies as a Redevelopment District
because:
• The proposed TIF District has a coverage calculation of 89.1 percent which is above the 70
percent requirement.
• 60 percent of the buildings are structurally substandard which is above the 50 percent
requirement.
• The substandard buildings are reasonably distributed.
The remainder of this report describes our process and findings in detail.
PART 2 – MINNESOTA STATUTE 469.174, SUBDIVISION 10
REQUIREMENTS
The properties were inspected in accordance with the following requirements under Minnesota Statutes,
Section 469.174, Subdivision 10(c), which states:
INTERIOR INSPECTION
“The municipality may not make such determination [that the building is structurally substandard] without an interior inspection of the property...”
EXTERIOR INSPECTION AND OTHER MEANS “An interior inspection of the property is not required, if the municipality finds that
(1) the municipality or authority is unable to gain access to the property after using its best efforts
to obtain permission from the party that owns or controls the property; and
(2) the evidence otherwise supports a reasonable conclusion that the building is structurally
substandard.”
DOCUMENTATION “Written documentation of the findings and reasons why an interior inspection was not conducted must be made and retained under section 469.175, subdivision 3(1).”
QUALIFICATION REQUIREMENTS
Minnesota Statutes, Section 469.174, Subdivision 10 (a) (1) requires three tests for occupied parcels:
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 4 of 12 Final Report
A. COVERAGE TEST …“parcels consisting of 70 percent of the area of the district are occupied by buildings, streets, utilities, or paved or gravel parking lots…”
The coverage required by the parcel to be considered occupied is defined under Minnesota
Statutes, Section 469.174, Subdivision 10(e), which states: “For purposes of this subdivision, a parcel is not occupied by buildings, streets, utilities, paved or gravel parking lots, or other similar
structures unless 15 percent of the area of the parcel contains buildings, streets, utilities, paved or gravel parking lots, or other similar structures.”
B. CONDITION OF BUILDINGS TEST Minnesota Statutes, Section 469.174, Subdivision 10(a) states, “…and more than 50 percent of the
buildings, not including outbuildings, are structurally substandard to a degree requiring
substantial renovation or clearance;”
1. Structurally substandard is defined under Minnesota Statutes, Section 469.174, Subdivision 10(b),
which states: “For purposes of this subdivision, ‘structurally substandard’ shall mean
containing defects in structural elements or a combination of deficiencies in essential
utilities and facilities, light and ventilation, fire protection including adequate egress, layout
and condition of interior partitions, or similar factors, which defects or deficiencies are of
sufficient total significance to justify substantial renovation or clearance.”
a. We do not count energy code deficiencies toward the thresholds required by Minnesota
Statutes, Section 469.174, Subdivision 10(b) defined as “structurally substandard”, due to
concerns expressed by the State of Minnesota Court of Appeals in the Walser Auto
Sales, Inc. vs. City of Richfield case filed November 13, 2001.
2. Buildings are not eligible to be considered structurally substandard unless they meet certain
additional criteria, as set forth in Subdivision 10(c) which states:
“A building is not structurally substandard if it is in compliance with the building code
applicable to new buildings or could be modified to satisfy the building code at a cost of
less than 15 percent of the cost of constructing a new structure of the same square footage
and type on the site. The municipality may find that a building is not disqualified as
structurally substandard under the preceding sentence on the basis of reasonably available
evidence, such as the size, type, and age of the building, the average cost of plumbing,
electrical, or structural repairs, or other similar reliable evidence.”
“Items of evidence that support such a conclusion [that the building is not disqualified]
include recent fire or police inspections, on-site property tax appraisals or housing
inspections, exterior evidence of deterioration, or other similar reliable evidence.”
LHB counts energy code deficiencies toward the 15 percent code threshold required by
Minnesota Statutes, Section 469.174, Subdivision 10(c)) for the following reasons:
• The Minnesota energy code is one of ten building code areas highlighted by the
Minnesota Department of Labor and Industry website where minimum construction standards are required by law.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 5 of 12 Final Report
• Chapter 13 of the 2015 Minnesota Building Code states, “Buildings shall be designed
and constructed in accordance with the International Energy Conservation Code.”
Furthermore, Minnesota Rules, Chapter 1305.0021 Subpart 9 states, “References
to the International Energy Conservation Code in this code mean the Minnesota Energy
Code…”
• The Senior Building Code Representative for the Construction Codes and Licensing Division of the Minnesota Department of Labor and Industry
confirmed that the Minnesota Energy Code is being enforced throughout the State of Minnesota.
• In a January 2002 report to the Minnesota Legislature, the Management Analysis
Division of the Minnesota Department of Administration confirmed that the
construction cost of new buildings complying with the Minnesota Energy Code is higher than buildings built prior to the enactment of the code.
• Proper TIF analysis requires a comparison between the replacement value of a
new building built under current code standards with the repairs that would be necessary to bring the existing building up to current code standards. In order for
an equal comparison to be made, all applicable code chapters should be applied to both scenarios. Since current construction estimating software automatically
applies the construction cost of complying with the Minnesota Energy Code, energy code deficiencies should also be identified in the existing structures.
C. DISTRIBUTION OF SUBSTANDARD BUILDINGS Minnesota Statutes, Section 469.174, Subdivision 10, defines a Redevelopment District and requires
one or more of the following conditions, “reasonably distributed throughout the district.”
(1) “Parcels consisting of 70 percent of the area of the district are occupied by buildings,
streets, utilities, paved or gravel parking lots, or other similar structures and more than
50 percent of the buildings, not including outbuildings, are structurally substandard to a
degree requiring substantial renovation or clearance;
(2) the property consists of vacant, unused, underused, inappropriately used, or infrequently
used rail yards, rail storage facilities, or excessive or vacated railroad rights-of-way;
(3) tank facilities, or property whose immediately previous use was for tank facilities…”
Our interpretation of the distribution requirement is that the substandard buildings must be
reasonably distributed throughout the district as compared to the location of all buildings in the district. For example, if all of the buildings in a district are located on one half of the
area of the district, with the other half occupied by parking lots (meeting the required 70 percent coverage for the district), we would evaluate the distribution of the substandard
buildings compared with only the half of the district where the buildings are located. If all of the buildings in a district are located evenly throughout the entire area of the district, the
substandard buildings must be reasonably distributed throughout the entire area of the district. We believe this is consistent with the opinion expressed by the State of Minnesota
Court of Appeals in the Walser Auto Sales, Inc. vs. City of Richfield case filed November 13, 2001.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 6 of 12 Final Report
PART 3 – PROCEDURES FOLLOWED
LHB inspected one (1) of the five (5) buildings during the day of March 12, 2013 (Map No. 1). Two
(2) of the five (5) buildings were inspected on December 23, 2015 (Map No. 10 and 11). Two (2)
buildings were not inspected (Map No. 14 and 15).
PART 4 – FINDINGS
A. COVERAGE TEST
1. The total square foot area of the parcel in the proposed TIF District was obtained from City
records, GIS mapping and site verification.
2. The total square foot area of buildings and site improvements on the parcels in the
proposed TIF District was obtained from City records, GIS mapping and site verification.
3. The percentage of coverage for each parcel in the proposed TIF District was computed to
determine if the 15 percent minimum requirement was met. The total square footage of
parcels meeting the 15 percent requirement was divided into the total square footage of the
entire district to determine if the 70 percent requirement was met.
FINDING: The proposed TIF District met the coverage test under Minnesota Statutes, Section 469.174, Subdivision 10(e), which resulted in parcels consisting of 89.1 percent of the area of the proposed TIF District
being occupied by buildings, streets, utilities, paved or gravel parking lots, or other similar structures (Diagram 2). This exceeds the 70 percent area coverage requirement for the proposed TIF District
under Minnesota Statutes, Section 469.174, Subdivision (a) (1).
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 7 of 12 Final Report
Diagram 2 – Coverage Diagram
Shaded area depicts a parcel more than 15 percent occupied by buildings, streets, utilities, Paved or gravel parking lots or other similar structures
B. CONDITION OF BUILDING TEST
1. BUILDING INSPECTION The first step in the evaluation process is the building inspection. After an initial walk-thru, the inspector makes a judgment whether or not a building “appears” to have enough
defects or deficiencies of sufficient total significance to justify substantial renovation or clearance. If it does, the inspector documents with notes and photographs code and non-
code deficiencies in the building.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 8 of 12 Final Report
2. REPLACEMENT COST The second step in evaluating a building to determine if it is substandard to a degree requiring substantial renovation or clearance is to determine its replacement cost. This is
the cost of constructing a new structure of the same square footage and type on site. Replacement costs were researched using R.S. Means Cost Works square foot models for
2016 and 2013.
A replacement cost was calculated by first establishing building use (office, retail, residential, etc.), building construction type (wood, concrete, masonry, etc.), and building size to obtain
the appropriate median replacement cost, which factors in the costs of construction in Edina, Minnesota.
Replacement cost includes labor, materials, and the contractor’s overhead and profit.
Replacement costs do not include architectural fees, legal fees or other “soft” costs not directly related to construction activities. Replacement cost for each building is tabulated
in Appendix A.
3. CODE DEFICIENCIES
The next step in evaluating a building is to determine what code deficiencies exist with
respect to such building. Code deficiencies are those conditions for a building which are
not in compliance with current building codes applicable to new buildings in the State of
Minnesota.
Minnesota Statutes, Section 469.174, Subdivision 10(c), specifically provides that a building
cannot be considered structurally substandard if its code deficiencies are not at least 15
percent of the replacement cost of the building. As a result, it was necessary to determine
the extent of code deficiencies for each building in the proposed TIF District.
The evaluation was made by reviewing all available information with respect to such
buildings contained in City Building Inspection records and making interior and exterior
inspections of the buildings. LHB utilizes the current Minnesota State Building Code as
the official code for our evaluations. The Minnesota State Building Code is actually a series
of provisional codes written specifically for Minnesota only requirements, adoption of
several international codes, and amendments to the adopted international codes.
After identifying the code deficiencies in each building, we used R.S. Means Cost Works
2016 and 2013; Unit and Assembly Costs to determine the cost of correcting the identified
deficiencies. We were then able to compare the correction costs with the replacement cost
of each building to determine if the costs for correcting code deficiencies meet the required
15 percent threshold.
FINDING: Three (3) out of five (5) buildings (60 percent) in the proposed TIF District contained code deficiencies exceeding the 15 percent threshold required by Minnesota Statutes, Section
469.174, Subdivision 10(c). Building Code, Condition Deficiency and Context Analysis reports for the buildings in the proposed TIF District can be found in Appendix B of this
report.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 9 of 12 Final Report
4. SYSTEM CONDITION DEFICIENCIES If a building meets the minimum code deficiency threshold under Minnesota Statutes, Section
469.174, Subdivision 10(c), then in order for such building to be “structurally substandard” under Minnesota Statutes, Section 469.174, Subdivision 10(b), the building’s defects or
deficiencies should be of sufficient total significance to justify “substantial renovation or clearance.” Based on this definition, LHB re-evaluated each of the buildings that met the
code deficiency threshold under Minnesota Statutes, Section 469.174, Subdivision 10(c), to determine if the total deficiencies warranted “substantial renovation or clearance” based on
the criteria we outlined above.
System condition deficiencies are a measurement of defects or substantial deterioration in site elements, structure, exterior envelope, mechanical and electrical components, fire
protection and emergency systems, interior partitions, ceilings, floors and doors.
The evaluation of system condition deficiencies was made by reviewing all available information contained in City records, and making interior and exterior inspections of the
buildings. LHB only identified system condition deficiencies that were visible upon our inspection of the building or contained in City records. We did not consider the amount
of “service life” used up for a particular component unless it was an obvious part of that component’s deficiencies.
After identifying the system condition deficiencies in each building, we used our
professional judgment to determine if the list of defects or deficiencies is of sufficient total significance to justify “substantial renovation or clearance.”
FINDING: In our professional opinion, three (3) out of five (5) buildings (60 percent) in the proposed
TIF District are structurally substandard to a degree requiring substantial renovation or
clearance, because of defects in structural elements or a combination of deficiencies in
essential utilities and facilities, light and ventilation, fire protection including adequate
egress, layout and condition of interior partitions, or similar factors which defects or
deficiencies are of sufficient total significance to justify substantial renovation or clearance.
This exceeds the 50 percent requirement of Subdivision 10a(1).
C. DISTRIBUTION OF SUBSTANDARD STRUCTURES Much of this report has focused on the condition of individual buildings as they relate to requirements identified by Minnesota Statutes, Section 469.174, Subdivision 10. It is also
important to look at the distribution of substandard buildings throughout the geographic area of the proposed TIF District (Diagram 3).
FINDING:
The parcels with substandard buildings are reasonably distributed compared to all parcels that contain buildings.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 10 of 12 Final Report
Diagram 3 – Substandard Buildings
Shaded green area depicts parcels with buildings. Hatched area depicts parcels with substandard buildings. Shaded orange area depicts substandard buildings.
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 11 of 12 Final Report
PART 5 - TEAM CREDENTIALS
Michael A. Fischer, AIA, LEED AP - Project Principal/TIF Analyst Michael has 29 years of experience as project principal, project manager, project designer and project
architect on planning, urban design, educational, commercial and governmental projects. He has become an expert on Tax Increment Finance District analysis assisting over 100 cities with strategic
planning for TIF Districts. He is a Senior Vice President at LHB and currently leads the Minneapolis office.
Michael completed a two-year Bush Fellowship, studying at MIT and Harvard in 1999, earning Masters
degrees in City Planning and Real Estate Development from MIT. He has served on more than 50 committees, boards and community task forces, including a term as a City Council President and as
Chair of a Metropolitan Planning Organization. Most recently, he served as Chair of the Edina, Minnesota planning commission. Michael has also managed and designed several award-winning
architectural projects, and was one of four architects in the Country to receive the AIA Young Architects Citation in 1997.
Philip Waugh – Project Manager/TIF Analyst
Philip is a project manager with 13 years of experience in historic preservation, building investigations, material research, and construction methods. He previously worked as a historic preservationist and
also served as the preservation specialist at the St. Paul Heritage Preservation Commission. Currently, Phil sits on the Board of Directors for the Preservation Alliance of Minnesota. His current
responsibilities include project management of historic preservation projects, performing building condition surveys and analysis, TIF analysis, writing preservation specifications, historic design
reviews, writing Historic Preservation Tax Credit applications, preservation planning, and grant writing.
Phil Fisher – Inspector For 35 years, Phil Fisher worked in the field of Building Operations in Minnesota including White Bear Lake Area Schools. At the University of Minnesota he earned his Bachelor of Science in Industrial
Technology. He is a Certified Playground Safety Inspector, Certified Plant Engineer, and is trained in Minnesota Enterprise Real Properties (MERP) Facility Condition Assessment (FCA). His FCA training
was recently applied to the Minnesota Department of Natural Resources Facilities Condition Assessment project involving over 2,000 buildings.
M:\13Proj\130153\400 Design\406 Reports\130153.01\Final Report\130153.01 20160205 Edina Grandview Redevelopment TIF Report.docx
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 12 of 12 Final Report
APPENDICES
APPENDIX A Property Condition Assessment Summary Sheet
APPENDIX B Building Code and Condition Deficiencies Reports
APPENDIX C Building Replacement Cost Reports
Code Deficiency Cost Reports
Photographs
APPENDIX A
Property Condition Assessment Summary Sheet
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Property Condition Assessment Summary Sheet
APPENDIX B
Building Code, Condition Deficiency and Context Analysis Reports
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 1 of 2 Map 1
Edina Grandview 2 Redevelopment TIF District
Building Code, Condition Deficiency and Context Analysis Report
March 13, 2013
Map No. & Building Name: Map No. 1 Former Public Works Facility
Address & PID: 5146 Eden Avenue, PID 28-117-21-31-0016
Inspection Date(s) & Time(s): March 12, 2013, 3:30pm Inspection Type: Interior/Exterior
Summary of Deficiencies: It is our professional opinion that this building is Substandard because:
- Building Code deficiencies total more than 15% of replacement cost.
- Substantial renovation is required to correct Conditions found.
Estimated Replacement Cost: $ 3,439,600
Estimated Cost to Correct Building Code Deficiencies: $ 1,098,118 Percentage of Replacement Cost: 31.9%
Description of Condition Deficiencies
Minnesota Statutes, Section 469.174, Subdivision 10, states that a building is Structurally Substandard if
it contains “defects in structural elements or a combination of deficiencies in essential utilities and
facilities, light and ventilation, fire protection including adequate egress, layout and condition of interior
partitions, or similar factors, which defects or deficiencies are of sufficient total significance to justify
substantial renovation or clearance.”
Defects in Structural Elements 1. The roof does not meet current minimum slope requirements per code.
2. Interior floor slab and walls are damaged due to fire department training.
Combination of Deficiencies 1. Essential Utilities and Facilities
a. Restroom facilities do not meet current accessibility codes. b. Copper has been removed from the building, plumbing system is not functioning.
c. Drinking fountain near entrance lobby does not meet code.
d. Grease traps in the repair garage do not meet current codes.
2. Light and Ventilation a. The ventilation system is not adequate in the shop area. b. The cooling and heating system is not adequate in the office area.
c. Light fixtures are old, not energy efficient and mostly not working.
3. Fire Protection/Adequate Egress
a. The mezzanine stairs do not meet current codes. b. Railings on all stairs do not meet current codes.
c. An elevator is required for access to the upper floor. d. Guard rails at mezzanine spaces do not meet current codes.
4. Layout and Condition of Interior Partitions/Materials a. All wall surfaces require new paint.
b. All interior (wall, ceiling, floor) surfaces require updating. c. Windows are broken in several offices.
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 2 of 2 Map 1
5. Exterior Construction a. Several exterior windows are broken, allowing air and water to infiltrate the building.
b. The public entrance to the building does not have an airlock vestibule. c. All man doors are weathered and lightly damaged. d. Overhead doors have minor staining, dents and dings.
e. The exterior wall has rust spots in various locations. f. Concrete block on both sides of public entrance are damaged. g. Areas of damage and decay are visible on roof eaves.
Overview of Condition Deficiencies The former public works building is a large structure used for storage and maintenance of vehicles and
equipment along with office functions for public works, streets, utilities, park and recreation and other
miscellaneous groups. It was built in 1963 and vacated in 2010 after the City constructed a new public works facility. Overall, the building is in poor condition as a result of age and non-use. A significant amount of
work would be required for this building to be made functional for a public or non-public use. In total, the defects and deficiencies in this building are of sufficient total significance to justify substantial
renovation or clearance.
Description of Code Deficiencies
1. The roof does not meet current minimum slope requirements per code.
2. Restroom facilities do not meet current accessibility codes. 3. Drinking fountain near entrance lobby does not meet code.
4. Grease traps in the repair garage do not meet current codes.
5. The ventilation system is not adequate in the shop area. 6. The cooling and heating system is not adequate in the office area.
7. The mezzanine stairs do not meet current codes. 8. Railings on all stairs do not meet current codes.
9. An elevator is required for access to the upper floor.
10. Guard rails at mezzanine spaces do not meet current codes. 11. Windows are broken allowing air and water to infiltrate the building envelope.
Energy Code
In addition to the building code deficiencies listed above, the existing building does not comply with the
current energy code. These deficiencies are not included in the estimated costs to correct code deficiencies and are not considered in determining whether or not the building is substandard:
- Building’s light fixtures are not energy efficient per code – T-12 fixtures. - Building’s walls and roof seem to lack adequate insulation to meet code. - Building’s windows are not energy efficient per code.
M:\13Proj\130153\400 Design\406 Reports\TIF\Public Works Building\Public Works Substandard Building Report 3-13-13.doc
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 1 of 2 Map No. 10
Edina Grandview 2 Redevelopment TIF District
Building Code, Condition Deficiency and Context Analysis Report
February 4, 2016 Map No. & Building Name: Parcel 10 Bus Barn
Address & PID: 5150 Brookside Avenue Edina, MN, PID: 2811721340005
Inspection Date(s) & Time(s): December 23, 2015, 10:00 am
Inspection Type: Interior and Exterior
Summary of Deficiencies: It is our professional opinion that this building is Substandard
because:
- Substantial renovation is required to correct Conditions found.
- Building Code deficiencies total more than 15% of
replacement cost, NOT including energy code deficiencies.
Estimated Replacement Cost: $928,527
Estimated Cost to Correct Building Code Deficiencies: $283,027
Percentage of Replacement Cost for Building Code Deficiencies: 30.48%
Defects in Structural Elements 1. Exterior concrete block is deteriorating.
2. Exterior block walls are cracked.
Combination of Deficiencies
1. Essential Utilities and Facilities a. Restrooms are not code compliant.
b. There is no accessible route to the second floor.
c. Thresholds are non compliant as they are greater than 1/2 inch. d. Door hardware is not code compliant for accessibility.
e. Staff break room sink is not code compliant for accessibility. f. Stair railings are missing and not code compliant.
g. Stair treads and risers are not code compliant.
h. There is no code compliant accessible drinking fountain.
2. Light and Ventilation a. Emergency lighting was not observed.
3. Fire Protection/Adequate Egress a. There is no fire suppression system available.
b. Emergency egress is compromised by open pits.
4. Layout and Condition of Interior Partitions/Materials
a. Interior walls need repair and painting.
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 2 of 2 Map No. 10
5. Exterior Construction a. Fascia is rotting and in need of replacement to prevent water intrusion.
b. Gutters are damaged and in need of repair. c. Exterior block walls are rotting and allowing for water intrusion.
d. Clerestory windows need to be replaced to prevent water intrusion. e. Exterior block walls are cracked which are indicative of differential settlement. f. Exterior walls need to be painted.
Description of Code Deficiencies
1. Repair/replace exterior CMU to prevent water intrusion per building code.
2. Install accessible restroom per accessibility code. 3. Create accessible route to second floor per accessibility code.
4. Correct thresholds to comply with accessibility code. 5. Install accessible door hardware per code. 6. Modify staff break room sink to meet accessibility code.
7. Replace interior stairs with code compliant treads and risers. 8. Install compliant hand rail on west side of interior stairs per code.
9. Install code compliant accessible drinking fountain.
10. Install fire suppression system per code. 11. Protect open service pits to allow for emergency egress per code.
12. Replace fascia to prevent water intrusion per code. 13. Replace clerestory windows to prevent water intrusion per code. 14. Paint/seal exterior block walls to prevent water intrusion per code.
Overview of Deficiencies
According to staff this building was built sometime in the 1940's. It experienced a fire about 4 year ago and
upgrades to both mechanical, electrical, windows and roof were completed in about 2012. There is no accessible route to the second floor and staff must go outside to access either floor as there is no approved
route inside. The service bays have open pits for work under vehicles. There is no protection from the open pits other than a four inch curb. The exterior block work is rotting and allowing for water intrusion. There
are no accessible restrooms in the building. Fire suppression is also absent.
M:\13Proj\130153\400 Design\406 Reports\130153.01\Building Reports\130153.01 20160204 Parcel 10 Edina Bus Barn Building Report.doc
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 1 of 2 Map No. 11
Edina Grandview 2 Redevelopment TIF District
Building Code, Condition Deficiency and Context Analysis Report
February 4, 2016 Map No. & Building Name: Map No. 11 Bus Storage
Address & PID: 5220 Eden Avenue, Edina, MN PID: 2811721340004
Inspection Date(s) & Time(s): December 23, 2015, 10:45 am
Inspection Type: Interior and Exterior
Summary of Deficiencies: It is our professional opinion that this building is Substandard
because:
- Substantial renovation is required to correct Conditions found.
- Building Code deficiencies total more than 15% of
replacement cost, NOT including energy code deficiencies.
Estimated Replacement Cost: $1,312,718
Estimated Cost to Correct Building Code Deficiencies: $454,054
Percentage of Replacement Cost for Building Code Deficiencies: 34.58%
Defects in Structural Elements 1. Concrete blocks are cracked which are indicative of differential settlement.
2. The interior roof support columns are rusting.
Combination of Deficiencies
1. Essential Utilities and Facilities
a. The restroom is not accessible per code. b. Threshold heights are greater than allowed by code.
c. The concrete block stairs to the electrical room are in disrepair and not code compliant.
d. The drinking fountain is not accessible per code. e. Door hardware is not code compliant for accessibility.
f. Water heater needs to be replaced because of age.
2. Light and Ventilation
a. The exhaust system in the restroom is non-compliant. b. The HVAC system appears to be greater than 30 years old and is non-compliant.
c. Electrical service is older. d. Interior HVAC system was disconnected and non-functional.
3. Fire Protection/Adequate Egress a. There is no fire alarm notification system present.
b. The VCT tile is damaged and is a trip hazard impeding emergency egress per code.
c. In the event of a fire and power outage there are not enough secondary means of egress per code.
d. There are no emergency lights in the building.
Edina Grandview 2 Redevelopment TIF District Building Report
LHB Project No. 130153.01 Page 2 of 2 Map No. 11
4. Layout and Condition of Interior Partitions/Materials a. Interior walls need to be painted.
b. Interior VCT flooring is in need of replacement. c. Interior flooring in garage should be sealed.
d. During inspection several garage doors failed to operate. 5. Exterior Construction
a. Exterior block work is in need of painting/sealing to prevent water intrusion. b. Exterior roof flashing is in need of repair to prevent water intrusion. c. Asphalt roof needs replacement to prevent water intrusion per code.
d. Electrical service door was warped and did not function properly.
Description of Code Deficiencies 1. Install accessible restroom per code. 2. Modify thresholds to comply with accessibility code.
3. Paint interior structural columns to prevent rusting per code. 4. Repair concrete block stairs to electrical room and add railing per code.
5. Install accessible drinking fountain per code.
6. Install code compliant accessible door hardware. 7. Provide code required exhaust system in restroom.
8. Install code compliant HVAC system. 9. Install fire/emergency notification system per code. 10. Install fire suppression system per code.
11. Install emergency egress lighting per code. 12. Install secondary emergency exiting per code.
13. Replace damaged VCT for unimpeded egress per code. 14. Paint/seal exterior block to prevent water intrusion per code. 15. Replace roof and flashing to prevent water intrusion per code.
Overview of Deficiencies
Staff reports that this building was constructed in the 1940's and has seen little repairs or improvements for
many years. The roof and the HVAC system appear to be greater than 25 years old. Water intrusion is evident in several areas and the surface of the roof is bubbled and cracked. The restroom is non-compliant
for accessibility and there are no emergency lights or notification system in the building. Steel structural support columns are rusting at their bases.
M:\13Proj\130153\400 Design\406 Reports\130153.01\Building Reports\130153.01 20160204 Parcel 11 Edina Bus Storage Building Report.doc
APPENDIX C
Building Replacement Cost Reports Code Deficiency Cost Reports
Photographs
Edina Grandview 2 Redevelopment TIF District
Replacement Cost Report
Map 1: Parcel 28-117-21-31-0016 - Public Works Facility
Square Foot Cost Estimate Report
Estimate Name:Edina Public Works
Building Type:
Garage, Repair with Poured Concrete / Steel
Joists
Location:MINNEAPOLIS, MN
Story Count:1
Story Height (L.F.):20
Floor Area (S.F.):40888
Labor Type:STD
Basement Included:No
Data Release:Year 2013 Quarter 1
Cost Per Square Foot:$81.82
Building Cost:$3,439,600.78
% of Total Cost Per S.F. Cost
12.55% 9.78 399,885
A1010 Standard Foundations 1.05 42,932
A1030 Slab on Grade 8.73 356,952
A2010 Basement Excavation 0 0
A2020 Basement Walls 0 0
25.12% 23.79 972,725.52
B1020 Roof Construction 6.08 248,599
B2010 Exterior Walls 8.65 353,681
B2020 Exterior Windows 0.79 32,302
B2030 Exterior Doors 1.65 67,465
B3010 Roof Coverings 6.62 270,679
B3020 Roof Openings 0 0
7.55% 7.16 292,758
C1010 Partitions 1.87 76,461
C1020 Interior Doors 0.43 17,582
Costs are derived from a building model with basic components.
Scope differences and market conditions can cause costs to vary significantly.
A Substructure
Strip footing, concrete, reinforced, load 11.1 KLF, soil bearing capacity 6
Slab on grade, 6" thick, light industrial, reinforced
Excavate and fill, 30,000 SF, 4' deep, sand, gravel, or common earth, on
Foundation wall, CIP, 4' wall height, direct chute, .148 CY/LF, 7.2 PLF, 12"
B Shell
Roof, steel joists, 1.5" 22 ga metal deck, on bearing walls, 40' bay, 25.5"
Concrete wall, reinforced, 8' high, 8" thick, plain finish, 3000 PSI
Windows, aluminum, sliding, standard glass, 5' x 3'
Door, steel 18 gauge, hollow metal, 1 door with frame, no label, 3'‐0" x 7'‐
Door, steel 24 gauge, overhead, sectional, manual operation, 12'‐0" x 12'‐
Roofing, asphalt flood coat, gravel, base sheet, 3 plies 15# asphalt felt,
Insulation, rigid, roof deck, composite with 2" EPS, 1" perlite
Roof edges, aluminum, duranodic, .050" thick, 6" face
Gravel stop, aluminum, extruded, 4", mill finish, .050" thick
Skylight, plastic domes, insulated curbs, 10 SF to 20 SF, single glazing
C Interiors
Lightweight block 4" thick
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 3
Replacement Cost Report
Map 1
% of Total Cost Per S.F. Cost
C1030 Fittings 0.04 1,636
C3010 Wall Finishes 2.95 120,620
C3020 Floor Finishes 1.44 58,879
C3030 Ceiling Finishes 0.43 17,582
36.97% 30.42 1,325,589
D2010 Plumbing Fixtures 3.49 142,699
D2020 Domestic Water Distribution 0.59 24,124
D2040 Rain Water Drainage 2.08 85,047
D3050 Terminal & Package Units 10.03 410,107
D3090 Other HVAC Systems/Equip 0.23 9,404
D4010 Sprinklers 5.05 206,484
D4020 Standpipes 0 0
D5010 Electrical Service/Distribution 0.13 5,315
D5020 Lighting and Branch Wiring 8.72 356,543
D5030 Communications and Security 2.0 81,776
D5090 Other Electrical Systems 0.1 4,089
Door, single leaf, kd steel frame, hollow metal, commercial quality, flush,
Toilet partitions, cubicles, ceiling hung, stainless steel
2 coats paint on masonry with block filler
Painting, masonry or concrete, latex, brushwork, primer & 2 coats
Painting, masonry or concrete, latex, brushwork, addition for block filler
Concrete topping, hardeners, metallic additive, minimum
Vinyl, composition tile, minimum
Acoustic ceilings, 5/8" fiberglass board, 24" x 48" tile, tee grid, suspended
D Services
Water closet, vitreous china, bowl only with flush valve, wall hung
Urinal, vitreous china, wall hung
Lavatory w/trim, wall hung, PE on CI, 19" x 17"
Service sink w/trim, PE on CI,wall hung w/rim guard, 24" x 20"
Shower, stall, baked enamel, molded stone receptor, 30" square
Water cooler, electric, wall hung, wheelchair type, 7.5 GPH
Gas fired water heater, residential, 100< F rise, 30 gal tank, 32 GPH
Roof drain, steel galv sch 40 threaded, 4" diam piping, 10' high
Roof drain, steel galv sch 40 threaded, 4" diam piping, for each additional
Rooftop, single zone, air conditioner, factories, 10,000 SF, 33.33 ton
Garage, single exhaust, 3" outlet, cars & light trucks, 1 bay
Garage, single exhaust, 3" outlet, additional bays up to seven bays
Wet pipe sprinkler systems, steel, ordinary hazard, 1 floor, 10,000 SF
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe, 1 floor
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe,
Service installation, includes breakers, metering, 20' conduit & wire, 3
Feeder installation 600 V, including RGS conduit and XHHW wire, 200 A
Switchgear installation, incl switchboard, panels & circuit breaker,
Receptacles incl plate, box, conduit, wire, 4 per 1000 SF, .5 watts per SF
Miscellaneous power, 1 watt
Central air conditioning power, 3 watts
Fluorescent fixtures recess mounted in ceiling, 1.6 watt per SF, 40 FC, 10
Communication and alarm systems, fire detection, addressable, 25
Fire alarm command center, addressable with voice, excl. wire & conduit
Internet wiring, 4 data/voice outlets per 1000 S.F.
Generator sets, w/battery, charger, muffler and transfer switch,
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 3
Replacement Cost Report
Map 1
% of Total Cost Per S.F. Cost
17.81%0 0
E1030 Vehicular Equipment 0 0
E1090 Other Equipment 0 0
0%0 0
0%0 0
100% $71.15 2,990,957
10.00% $7.12 299,096
5.00% $3.56 149,548
0.00% $0.00 0
$81.82 3,439,601
Contractor Fees (General Conditions,Overhead,Profit)
Architectural Fees
User Fees
Total Building Cost
E Equipment & Furnishings
Architectural equipment, auto equipment hoists, single post, 4 ton
F Special Construction
G Building Sitework
SubTotal
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 3 of 3
Replacement Cost Report
Map 1
Edina Grandview 2 Redevelopment TIF District
Code Deficiency Cost Report
Map 1: Parcel 28-117-21-31-0016 - Public Works Facility
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Accessibility Items
Replace toilets to provide handicap accessibility for each sex
Remove existng toilet rooms 2,250.00$ Lump 3 6,750.00$
3 water closets 3,750.00$ each 4 15,000.00$
3 lavs 2,500.00$ each 4 10,000.00$
2 Urinals 2,500.00$ each 2 5,000.00$
3 sets of grab bars 600.00$ each 4 2,400.00$
3 sets toilet room accessories 750.00$ each 4 3,000.00$
60.00$ SF 500 30,000.00$
Reinstall toilet Room Ventilation System 1,000.00$ each 4 4,000.00$
Add Elevator to upper level spaces
Elevator Pit and footings 8,000.00$ Lump 1 8,000.00$
12" CMU Elevator Shaft walls 13.00$ SF 1,216 15,808.00$
Elevator Equipment (2 stop)44,575.00$ Lump 1 44,575.00$
Elevator Equipment Room (Assume 64 SF)30.00$ SF 64 1,920.00$
Power 100 amp 3 phase
Safety Switch 520.00$ Lump 1 520.00$
Circuit Breaker 795.00$ Lump 1 795.00$
Motor Starter 450.00$ Lump 1 450.00$
Wire and Conduit Feeder (150 feet assumed)31.00$ LF 150 4,650.00$
Fire Alarm Connections 1,000.00$ lump 1 1,000.00$
Emergency Phone Connection 12.00$ LF 150 1,800.00$
Fire Seperation Items
Office area must be fire separated from Garage area
1,300.00$ Each 2 2,600.00$
850.00$ Each 5 4,250.00$
Exterior Envelope
Remove and replace windows 12,000.00$ Allow 1 12,000.00$
Build (4) new acccessible toilet rooms W/ compliant
number of accessories and fixtures
Interior configuration does not provide for accessible
route. Interior handicap access route not provided
through out building. MN 1341.0405, Item E
Interior room reconstruction (doors,
partitions,finishes)
Provide new fire rated doors at existing openings 6'-
0"x 7'-0"
Provide new fire rated doors at existing openings 3'-
0"x 7'-0"
Windows are 25 percent broken allowing water and air
infiltration
The existing roof slope does not meet the 1/4" per foot
required in IBC 1507
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 2
Code Deficiency Cost Report
Map 1
Map 1: Parcel 28-117-21-31-0016 - Public Works Facility
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Remove existing roof above structure 0.50$ SF 40,000 20,000.00$
4.00$ SF 40,000 160,000.00$
Exiting
Remove existing handrails 400.00$ Each 6 2,400.00$
Install new handrail 25.00$ LF 240 6,000.00$
Remove existing guard rails 4.00$ LF 500 2,000.00$
Install new guard rails 25.00$ LF 500 12,500.00$
Provide new exit signage and emergency lighting 400.00$ Each 8 3,200.00$
Fire Protection
Update fire alarm system in storage areas 1.75$ SF 10,000 17,500.00$
Plumbing
2,500.00$ EA 1 2,500.00$
Mechanical- Electrical
0.75$ Allow 40,000 30,000.00$
10.00$ SF 40,000 400,000.00$
Electrical
Demo existing electrical system and remnants of ligh 10,000.00$ Allow 1 10,000.00$
Provide new service entrance and switch gear 1.75$ SF 40,000 70,000.00$
Provide new branch circuits and lighting in portions o 7.50$ SF 25,000 187,500.00$
Total Code Improvements 1,098,118.00$
3,439,600.00$
31.9%
Stairs do not provide for proper handrail extension at
top and bottom of stair. IBC 1003.3.3.3.11.5.
HVAC system is insufficient for properly ventilating the
garage space and for properly cooling and heating the
Install new roof with tapered insulation providing
proper drainage
Insufficient power for upgraded HVAC, lighting system
largely gutted or dated
Mezzanine Guard rails do not meet current code (space
between bars)
IBC Chapter 9 - Fire alarm system required in high-pile
storage areas
Drinking fountain in entrance area is blocking path of
egress
Demolish existing drinking fountain and install code
complying unit
Demolish existing HVAC system in office and garage
areas
Provide new HVAC (with electrical upgrades) for
entire facility
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 2
Code Deficiency Cost Report
Map 1
Edina Grandview 2 Redevelopment TIF District
Photos: Map No. 1, 5146 Eden Avenue, Public Works Building
Page 1 of 7
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Page 2 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Page 3 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Page 4 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Page 5 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Page 6 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Page 7 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 1
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Edina Grandview 2 Redevelopment TIF District
Replacement Cost Report
Map No. 10: Parcel 2811721340005 - Bus Barn
Square Foot Cost Estimate Report Date:12/30/2015
5150 Brookside Avenue, Edina, Minnesota
55424
Building Type:
Garage, Repair with Concrete Block /
Steel Trusses
Location:MINNEAPOLIS, MN
Story Count:2
Story Height (L.F.):20
Floor Area (S.F.):6448
Labor Type:OPN
Basement Included:No
Data Release:Year 2016
Cost Per Square
Foot:$143.36
Building Cost:$928,527.41
% of Total Cost Per S.F. Cost
9.37% 12.21 78,749.90
A1010 Standard Foundations 3.34 21,556.60
3.34 21,556.60
A1030 Slab on Grade 4.19 27,038.33
4.19 27,038.33
A2010 Basement Excavation 0.17 1,122.89
0.17 1,122.89
A2020 Basement Walls 4.50 29,032.08
4.5 29,032.08
37.01% 48.23 319,410.23
B1020 Roof Construction 7.07 45,587.36
7.07 45,587.36
B2010 Exterior Walls 25.64 165,336.37
25.64 165,336.37
B2020 Exterior Windows 4.01 25,826.94
4.01 25,826.94
B2030 Exterior Doors 6.47 41,728.58
0.61 3,943.21
5.86 37,785.37
B3010 Roof Coverings 6.31 40,693.26
5.21 33,594.08
1.1 7,099.18
A Substructure
Strip footing, concrete, reinforced, load 11.1 KLF, soil bearing capacity 6
KSF, 12" deep x 24" wide
Slab on grade, 6" thick, light industrial, reinforced
Excavate and fill, 10,000 SF, 4' deep, sand gravel, or common earth, on
site storage
Estimate Name:
Costs are derived from a building model with basic components.
Scope differences and market conditions can cause costs to vary significantly.
Windows, aluminum, sliding, standard glass, 5' x 3'
Door, steel 18 gauge, hollow metal, 1 door with frame, no label, 3'-0" x
7'-0" opening
Door, steel 24 gauge, overhead, sectional, manual operation, 12'-0" x
12'-0" opening
Gable end roofing, asphalt, roof shingles, class A
Foundation wall, CIP, 4' wall height, direct chute, .148 CY/LF, 7.2 PLF,
12" thick
B Shell
Wood roof, truss, 4/12 slope, 24" O.C., 44' to 60' span
Concrete block (CMU) wall, regular weight, 75% solid, 8 x 8 x 16, 4500
PSI, reinforced, vertical #5@32", grouted
Insulation, rigid, roof deck, composite with 2" EPS, 1" perlite
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 3
Replacement Cost Report
Map No. 10
% of Total Cost Per S.F. Cost
B3020 Roof Openings 0.04 237.72
0.04 237.72
15.61%20.34 131,135.21
C1010 Partitions 5.12 33,014.04
1.84 11,842.08
3.28 21,171.96
C1020 Interior Doors 0.41 2,646.42
0.41 2,646.42
C1030 Fittings 0.25 1,604.84
0.25 1,604.84
C3010 Wall Finishes 7.91 50,954.05
6.43 41,460.53
0.82 5,259.76
0.66 4,233.76
C3020 Floor Finishes 6.20 39,997.58
4.7 30,305.60
1.25 8,058.56
0.25 1,633.42
C3030 Ceiling Finishes 0.45 2,918.28
0.45 2,918.28
38.02%49.55 314,820.49
D1010 Elevators and Lifts 17.16 110,640.20
17.16 110,640.20
D2010 Plumbing Fixtures 2.66 17,151.68
1.01 6,512.48
0.22 1,418.56
0.57 3,675.36
0.56 3,610.88
0.3 1,934.40
D2020 Domestic Water Distribution 0.64 4,117.67
0.64 4,117.67
D3050 Terminal & Package Units 9.28 59,829.32
9.28 59,829.32
D3090 Other HVAC Systems/Equip 1.38 8,943.92
0.94 6,079.60
0.44 2,864.32
D4010 Sprinklers 4.37 28,182.02
4.37 28,182.02
D4020 Standpipes 0.95 6,130.35
0.87 5,621.91
0.08 508.44
D5010 Electrical Service/Distribution 0.73 4,720.30
0.47 3,054.80
Concrete block (CMU) partition, light weight, hollow, 8" thick, no finish
Door, single leaf, kd steel frame, hollow metal, commercial quality, flush,
3'-0" x 7'-0" x 1-3/8"
Toilet partitions, cubicles, ceiling hung, stainless steel
2 coats paint on masonry with block filler
Skylight, plastic domes, insulated curbs, 10 SF to 20 SF, single glazing
C Interiors
Lightweight block 4" thick
Vinyl, composition tile, minimum
Acoustic ceilings, 5/8" fiberglass board, 24" x 48" tile, tee grid,
suspended support
D Services
Hydraulic, commercial elevator, 5000 lb, 2 floors, 100 FPM
Painting, masonry or concrete, latex, brushwork, primer & 2 coats
Painting, masonry or concrete, latex, brushwork, addition for block filler
Carpet tile, nylon, fusion bonded, 18" x 18" or 24" x 24", 24 oz
Concrete topping, hardeners, metallic additive, minimum
Water cooler, electric, wall hung, wheelchair type, 7.5 GPH
Gas fired water heater, residential, 100< F rise, 30 gal tank, 32 GPH
Rooftop, single zone, factories, 10,000 SF, 33.33 ton
Garage, single exhaust, 3" outlet, cars & light trucks, 1 bay
Water closet, vitreous china, bowl only with flush valve, wall hung
Urinal, vitreous china, wall hung
Lavatory w/trim, wall hung, PE on CI, 19" x 17"
Service sink w/trim, PE on CI,wall hung w/rim guard, 24" x 20"
Overhead service installation, includes breakers, metering, 20' conduit &
wire, 3 phase, 4 wire, 120/208 V, 200 A
Garage, single exhaust, 3" outlet, additional bays up to seven bays
Wet pipe sprinkler systems, steel, ordinary hazard, 1 floor, 10,000 SF
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe, 1 floor
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe,
additional floors
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 3
Replacement Cost Report
Map No. 10
% of Total Cost Per S.F. Cost
0.21 1,359.54
0.05 305.96
D5020 Lighting and Branch Wiring 8.66 55,822.14
2.23 14,388.84
0.31 1,989.08
0.64 4,096.80
5.48 35,347.42
D5030 Communications and Security 3.63 23,391.89
2.14 13,786.44
1.25 8,029.89
0.24 1,575.56
D5090 Other Electrical Systems 0.09 611.3
0.09 611.3
0% 0 0
E1090 Other Equipment 0 0
0% 0 0
0% 0 0
100% $130.33 $844,115.83
10.00% $13.03 $84,411.58
0.00% $0.00 $0.00
0.00% $0.00 $0.00
$143.36 $928,527.41
Feeder installation 600 V, including RGS conduit and XHHW wire, 200
A
Switchgear installation, incl switchboard, panels & circuit breaker,
120/208 V, 1 phase, 400 A
Receptacles incl plate, box, conduit, wire, 4 per 1000 SF, .5 watts per
SF
Fire alarm command center, addressable with voice, excl. wire &
conduit
Internet wiring, 4 data/voice outlets per 1000 S.F.
Generator sets, w/battery, charger, muffler and transfer switch,
gas/gasoline operated, 3 phase, 4 wire, 277/480 V, 15 kW
E Equipment & Furnishings
Miscellaneous power, 1 watt
Central air conditioning power, 3 watts
Fluorescent fixtures recess mounted in ceiling, 1.6 watt per SF, 40 FC,
10 fixtures @32watt per 1000 SF
Communication and alarm systems, fire detection, addressable, 25
detectors, includes outlets, boxes, conduit and wire
Architectural Fees
User Fees
Total Building Cost
F Special Construction
G Building Sitework
SubTotal
Contractor Fees (General Conditions,Overhead,Profit)
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 3 of 3
Replacement Cost Report
Map No. 10
Edina Grandview 2 Redevelopment TIF District
Code Deficiency Cost Report
Map No. 10 - 5150 Brookside Avenue - Parcel 2811721340005
Bus Barn
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Accessibility Items
Restroom
Install accessible restroom per code 17,151.00$ Ea 2 30,434.00$
Elevator
Install accessible route to second floor 110,640.00$ Ea 1 110,640.00$
Thresholds
Modify thresholds for accessibility code compliance 500.00$ Ea 5 2,500.00$
Door Hardware
Install accessible door hardware per code 250.00$ Ea 5 1,250.00$
Staff break room
Modify staff sink area for accessibility compliance 1,500.00$ Ea 1 1,500.00$
Drinking fountain
Install code compliant accessible drinking fountain 1,934.00$ Ea 1 1,934.00$
Structural Elements
Block walls
Repair/replace rotting CMU's to prevent water intrusion per code 1.70$ SF 6,448 10,961.60$
Exiting
Stairs
Replace interior stairs with code compliant ones 350.00$ Ea 20 7,000.00$
Railing
Install code compliant railings on interior and exterior stairs 500.00$ Ea 2 1,000.00$
Open service pits
Protect open service pits for emergency egress compliance 2,500.00$ Ea 4 10,000.00$
Fire Protection
Fire suppression
Install code compliant fire suppression system 5.32$ SF 6,448 34,303.36$
Exterior Construction
Fascia
Replace damaged fascia to prevent water intrusion per code 2,500.00$ Lump 1 2,500.00$
Window
Replace clerestory windows to prevent water intrusion per code 1,500.00$ Ea 12 18,000.00$
Exterior Walls
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 2
Code Deficiency Cost Report
Map No. 10
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Paint/seal exterior CMU surfaces to prevent water intrusion per
code 7.91$ SF 6,448 51,003.68$
Roof Construction
Mechanical- Electrical
Total Code Improvements 283,026.64$
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 2
Code Deficiency Cost Report
Map No. 10
Edina Grandview 2 Redevelopment TIF District
Photos: Map No. 10, 5150 Brookside Avenue, Bus Barn
Page 1 of 7
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Page 2 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 10
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Page 3 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 10
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Page 4 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
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Map No. 10
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Page 5 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
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Map No. 10
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Page 6 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 10
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Page 7 of 7Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 10
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Edina Grandview 2 Redevelopment TIF District
Replacement Cost Report
Map No. 11: Parcel 2811721340004 - Bus Storage
Square Foot Cost Estimate Report Date:12/30/2015
5220 Eden Avenue, Edina, Minnesota,
55424
Building Type:
Garage, Repair with Concrete Block /
Steel Joists
Location:MINNEAPOLIS, MN
Story Count:1
Story Height (L.F.):14
Floor Area (S.F.):17940
Labor Type:OPN
Basement Included:No
Data Release:Year 2016
Cost Per Square
Foot:$73.17
Building Cost:$1,312,718.11
% of Total Cost Per S.F. Cost
20.55% 13.67 245,233.77
A1010 Standard Foundations 2.1 37,724.06
2.1 37,724.06
A1030 Slab on Grade 8.39 150,455.25
8.39 150,455.25
A2010 Basement Excavation 0.35 6,248.32
0.35 6,248.32
A2020 Basement Walls 2.83 50,806.14
2.83 50,806.14
31.51% 20.96 376,039.57
B1020 Roof Construction 5.59 100,197.77
5.59 100,197.77
B2010 Exterior Walls 5.64 101,268.53
5.64 101,268.53
B2020 Exterior Windows 0.88 15,819.00
0.88 15,819.00
B2030 Exterior Doors 1.9 34,114.56
0.61 10,971.02
1.29 23,143.54
B3010 Roof Coverings 6.95 124,639.71
Windows, aluminum, sliding, standard glass, 5' x 3'
Door, steel 18 gauge, hollow metal, 1 door with frame, no label, 3'-0" x
7'-0" opening
Door, steel 24 gauge, overhead, sectional, manual operation, 12'-0" x
12'-0" opening
Slab on grade, 6" thick, light industrial, reinforced
Excavate and fill, 10,000 SF, 4' deep, sand gravel, or common earth, on
site storage
Foundation wall, CIP, 4' wall height, direct chute, .148 CY/LF, 7.2 PLF,
12" thick
B Shell
Roof, steel joists, 1.5" 22 ga metal deck, on bearing walls, 40' bay, 25.5"
deep, 40 PSF superimposed load, 61 PSF total load
Concrete block (CMU) wall, regular weight, 75% solid, 8 x 8 x 16, 4500
PSI, reinforced, vertical #5@32", grouted
Estimate Name:
Costs are derived from a building model with basic components.
Scope differences and market conditions can cause costs to vary significantly.
A Substructure
Strip footing, concrete, reinforced, load 11.1 KLF, soil bearing capacity 6
KSF, 12" deep x 24" wide
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 3
Replacement Cost Report
Map No. 11
% of Total Cost Per S.F. Cost
3.34 59,976.29
2.2 39,503.52
0.98 17,565.73
0.42 7,594.17
15.73% 10.46 187,714.41
C1010 Partitions 5.12 91,853.58
1.84 32,947.72
3.28 58,905.86
C1020 Interior Doors 0.41 7,363.02
0.41 7,363.02
C1030 Fittings 0.09 1,604.84
0.09 1,604.84
C3010 Wall Finishes 2.89 51,808.00
1.42 25,394.58
0.82 14,634.02
0.66 11,779.40
C3020 Floor Finishes 1.5 26,965.58
1.25 22,420.98
0.25 4,544.60
C3030 Ceiling Finishes 0.45 8,119.39
0.45 8,119.39
32.21% 21.43 384,392.35
D2010 Plumbing Fixtures 2.65 47,549.91
1.01 18,088.91
0.22 3,928.78
0.57 10,138.08
0.56 9,965.53
0.3 5,428.61
D2020 Domestic Water Distribution 0.64 11,456.42
0.64 11,456.42
D2040 Rain Water Drainage 1.94 34,759.29
1.61 28,839.82
0.33 5,919.47
D3050 Terminal & Package Units 1.7 30,575.00
1.7 30,575.00
D3090 Other HVAC Systems/Equip 0.5 8,943.92
0.34 6,079.60
0.16 2,864.32
D4010 Sprinklers 4.37 78,409.64
4.37 78,409.64
D4020 Standpipes 0.95 17,056.22
Wet pipe sprinkler systems, steel, ordinary hazard, 1 floor, 10,000 SF
Gas fired water heater, residential, 100< F rise, 30 gal tank, 32 GPH
Roof drain, steel galv sch 40 threaded, 4" diam piping, 10' high
Roof drain, steel galv sch 40 threaded, 4" diam piping, for each
additional foot add
Rooftop, single zone, air conditioner, factories, 500 SF, 1.67 ton
Garage, single exhaust, 3" outlet, cars & light trucks, 1 bay
Garage, single exhaust, 3" outlet, additional bays up to seven bays
D Services
Water closet, vitreous china, bowl only with flush valve, wall hung
Urinal, vitreous china, wall hung
Lavatory w/trim, wall hung, PE on CI, 19" x 17"
Service sink w/trim, PE on CI,wall hung w/rim guard, 24" x 20"
Water cooler, electric, wall hung, wheelchair type, 7.5 GPH
2 coats paint on masonry with block filler
Painting, masonry or concrete, latex, brushwork, primer & 2 coats
Painting, masonry or concrete, latex, brushwork, addition for block filler
Concrete topping, hardeners, metallic additive, minimum
Vinyl, composition tile, minimum
Acoustic ceilings, 5/8" fiberglass board, 24" x 48" tile, tee grid,
suspended support
Gravel stop, aluminum, extruded, 4", mill finish, .050" thick
C Interiors
Lightweight block 4" thick
Concrete block (CMU) partition, light weight, hollow, 8" thick, no finish
Door, single leaf, kd steel frame, hollow metal, commercial quality, flush,
3'-0" x 7'-0" x 1-3/8"
Toilet partitions, cubicles, ceiling hung, stainless steel
Roofing, asphalt flood coat, gravel, base sheet, 3 plies 15# asphalt felt,
mopped
Insulation, rigid, roof deck, composite with 2" EPS, 1" perlite
Roof edges, aluminum, duranodic, .050" thick, 6" face
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 3
Replacement Cost Report
Map No. 11
% of Total Cost Per S.F. Cost
0.87 15,641.62
0.08 1,414.60
D5010 Electrical Service/Distribution 0.26 4,720.30
0.17 3,054.80
0.08 1,359.54
0.02 305.96
D5020 Lighting and Branch Wiring 4.69 84,138.60
2.23 40,033.47
0.31 5,534.13
2.15 38,571.00
D5030 Communications and Security 3.63 65,082.26
2.14 38,357.42
1.25 22,341.22
0.24 4,383.62
D5090 Other Electrical Systems 0.09 1,700.79
0.09 1,700.79
0% 0 0
E1090 Other Equipment 0 0
0% 0 0
0% 0 0
100% $66.52 $1,193,380.10
10.00% $6.65 $119,338.01
0.00% $0.00 $0.00
0.00% $0.00 $0.00
$73.17 $1,312,718.11
Generator sets, w/battery, charger, muffler and transfer switch,
gas/gasoline operated, 3 phase, 4 wire, 277/480 V, 15 kW
E Equipment & Furnishings
Architectural Fees
User Fees
Total Building Cost
F Special Construction
G Building Sitework
SubTotal
Contractor Fees (General Conditions,Overhead,Profit)
Receptacles incl plate, box, conduit, wire, 4 per 1000 SF, .5 watts per
SF
Miscellaneous power, 1 watt
HID fixture, 8'-10' above work plane, 1 watt/SF, type C, 54 FC, 2 fixtures
per 1000 SF
Communication and alarm systems, fire detection, addressable, 25
detectors, includes outlets, boxes, conduit and wire
Fire alarm command center, addressable with voice, excl. wire &
conduit
Internet wiring, 4 data/voice outlets per 1000 S.F.
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe, 1 floor
Wet standpipe risers, class III, steel, black, sch 40, 4" diam pipe,
additional floors
Overhead service installation, includes breakers, metering, 20' conduit &
wire, 3 phase, 4 wire, 120/208 V, 200 A
Feeder installation 600 V, including RGS conduit and XHHW wire, 200
A
Switchgear installation, incl switchboard, panels & circuit breaker,
120/208 V, 1 phase, 400 A
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 3 of 3
Replacement Cost Report
Map No. 11
Edina Grandview 2 Redevelopment TIF District
Code Deficiency Cost Report
Map No. 11 - 5220 Eden Avenue - Parcel 2811721340004
Bus Storage
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Accessibility Items
Restroom
Install accessible restroom 47,459.00$ Ea 1 42,031.00$
Thesholds
Modify thresholds for code compliance 500.00$ Ea 11 5,500.00$
Drinking fountain
Install accessible drinking fountain 5,428.00$ Ea 1 5,428.00$
Door Hardware
Install accessible door hardware 250.00$ Ea 5 1,250.00$
Structural Elements
Interior structural columns
Paint columns to prevent rusting per code 1,500.00$ Lump 1 1,500.00$
Exiting
Lighting
Install emergency lighting per code 3,500.00$ Lump 1 3,500.00$
Flooring
Replace damaged VCT for unimpeded egress per code 1.25$ SF 600 750.00$
Doors
Install secondary emergency exiting per code 800.00$ Ea 10 8,000.00$
Stairs
Repair/replace CMU stairs to meet code compliance 1,500.00$ Lump 1 1,500.00$
Fire Protection
Sprinkler
Install code compliant sprinkler system 5.32$ SF 17,940 95,440.80$
Emergency notification
Install fire notification alarming system 3.39$ SF 17,940 60,816.60$
Exterior Construction
Masonry block work
Paint/seal exterior block to prevent water intrusion per code 2.89$ SF 17,940 51,846.60$
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 1 of 2
Code Deficiency Cost Report
Map No. 11
Code Related Cost Items Unit Cost Units Unit
Quantity Total
Roof Construction
Roof
Remove existing roof 0.92$ SF 17,940 16,504.80$
Replace roof to prevent water intrusion per code 5.54$ SF 17,940 99,387.60$
Flashing
Replace metal flashing to prevent water intrusion per code 1.40$ SF 17,940 25,116.00$
Mechanical- Electrical
Mechanical
Replace HVAC system to meet code compliance 1.70$ SF 17,940 30,498.00$
Install compliant exhaust system in restroom 500.00$ Ea 1 500.00$
Electrical
New service for HVAC system 0.25$ SF 17,940 4,485.00$
Total Code Improvements 454,054.40$
Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01 Page 2 of 2
Code Deficiency Cost Report
Map No. 11
Edina Grandview 2 Redevelopment TIF District
Photos: Map No. 11, 5220 Eden Avenue, Bus Storage
Page 1 of 4
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Page 2 of 4Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 11
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Page 3 of 4Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 11
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Page 4 of 4Edina Grandview 2 Redevelopment TIF District
LHB Project No. 130153.01
Photos
Map No. 11
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P1060797.JPG P1060798.JPG
Appendix G
Findings Including But/For Qualifications
The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan (TIF
Plan) for the Grandview 2 Redevelopment Tax Increment Financing District (District), as required pursuant
to Minnesota Statutes, Section 469.175, Subdivision 3 are as follows:
1. Finding that the Grandview 2 Redevelopment Tax Increment Financing District is a redevelopment
district as defined in M.S., Section 469.174, Subd. 10(a)(1).
The District consists of 15 parcels, with plans to redevelop the area for commercial/industrial and
residential purposes. At least 70 percent of the area of the parcels in the District are occupied by
buildings, streets, utilities, paved or gravel parking lots or other similar structures and more than 50
percent of the buildings in the District, not including outbuildings, are structurally substandard to a
degree requiring substantial renovation or clearance. (See Appendix F of the TIF Plan.)
2. Finding that the proposed development, in the opinion of the City Council, would not reasonably be
expected to occur solely through private investment within the reasonably foreseeable future and that the
increased market value of the site that could reasonably be expected to occur without the use of tax
increment financing would be less than the increase in the market value estimated to result from the
proposed development after subtracting the present value of the projected tax increments for the
maximum duration of the District permitted by the TIF Plan.
The proposed development, in the opinion of the City, would not reasonably be expected to occur solely
through private investment within the reasonably foreseeable future: This finding is supported by the fact
that the scale and type of redevelopment proposed in the TIF Plan meets the City's objectives for
redevelopment. The existing development contains vacant or substandard buildings with high costs
related to demolition, remediation and reconstruction of infrastructure. Together with proposed civic
uses, the desired density of the redevelopment also requires up front district-wide parking, transportation
and utility infrastructure investment. Because of the public cost of financing the proposed improvements,
which are essential to the comprehensive redevelopment, this project is feasible only through assistance,
in part, from tax increment financing.
The increased market value of the site that could reasonably be expected to occur without the use of tax
increment financing would be less than the increase in market value estimated to result from the proposed
development after subtracting the present value of the projected tax increments for the maximum duration
of the District permitted by the TIF Plan: This finding is justified on the grounds that the potential
development intensity and tax base created within the combined civic and private use redevelopment
requires public improvements that are improbable without public assistance. In addition, land in the TIF
District is fully developed but sites have become dilapidated because of age and obsolescence that adds
to the redevelopment costs above what could be reasonably absorbed by the private marketplace.
Historically, site and public improvement costs in this area have made redevelopment infeasible without
tax increment assistance. The City reasonably determines that no other redevelopment of similar scope
is anticipated on this site without substantially similar assistance being provided to the development.
Therefore, the City concludes as follows:
a. The City's estimate of the amount by which the market value of the entire District will
increase without the use of tax increment financing is $0.
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District G-1
b. If the proposed development occurs, the total increase in market value will be $68,646,234.
c. The present value of tax increments from the District for the maximum duration of the
district permitted by the TIF Plan is estimated to be $16,363,834.
d. Even if some development other than the proposed development were to occur, the Council
finds that no alternative would occur that would produce a market value increase greater than
$52,282,400 (the amount in clause b less the amount in clause c) without tax increment
assistance.
3. Finding that the TIF Plan for the District conforms to the general plan for the development or
redevelopment of the municipality as a whole.
The Planning Commission reviewed the TIF Plan and found that the TIF Plan conforms to the
general development plan of the City.
4. Finding that the TIF Plan for the District will afford maximum opportunity, consistent with the sound
needs of the City as a whole, for the development or redevelopment of Southeast Edina
Redevelopment Project Area by private enterprise.
The project to be assisted by the District will result in increased employment in the City and the State
of Minnesota, the renovation of substandard properties, increased tax base of the State and add high
quality development to the City.
But-For Analysis
Current Market Value 3,787,086
New Market Value - Estimate 72,433,320
Difference 68,646,234
Present Value of Tax Increment 16,363,834
Difference 52,282,400
Value Likely to Occur Without TIF is Less Than: 52,282,400
Edina Housing and Redevelopment Authority Tax Increment Financing Plan for the Grandview 2 Redevelopment Tax Increment Financing District G-2
Date: July 19, 2016 Agenda Item #: V.
To:Chair & Commissioners of the Edina HRA Item Type:
From:Bill Neuendorf, Economic Development Manager
Item Activity:
Subject:Southeast Edina Redevelopment Area Plan - Updated Information
Edina Housing and Redevelopment
Authority
Established 1974
CITY OF EDINA
HOUSING & REDEVELOPMENT AUTHORITY
4801 West 50th Street
Edina, MN 55424
www.edinamn.gov
ACTION REQUESTED:
This is being distributed to the HRA/City Council. No discussion or action is required.
INTRODUCTION:
The Plan for the Southeast Edina Redevelopment Project Area has been updated. First established in 1977, this
Plan is modified from time-to-time when, for example, new Tax Increment Financing Districts are identified.
The updated Plan now incorporates several modifications that have occurred since 2012. All modifications have
been previously approved by the City and Housing and Redevelopment Authority.
No action is needed at this time.
ATTACHMENTS:
Description
SE Edina Redevelopment Area Plan Updated
Modification to the Redevelopment Area Plan
for
the Southeast Edina Redevelopment Project Area
Edina Housing and Redevelopment Authority
City of Edina
Hennepin County
State of Minnesota
Adopted: September 29, 1977
Modification No. 1 Adopted: May 6, 1985
Modification No. 2 Adopted: August 19, 1985
Modification No. 3 Adopted: June 15, 1987
Modification No. 4 Adopted: March 7, 1988
Modification No. 5 Adopted: February 21, 2012
Modification No. 6 Adopted: April 17, 2012
Modification No. 7 Adopted: February 18, 2014
Modification No. 8 Adopted: March 2, 2016
Modification No. 9 Adopted: April 5, 2016
FINAL FOR FILING
Prepared by: EHLERS & ASSOCIATES, INC.
3060 Centre Pointe Drive, Roseville, Minnesota 55113-1105
(651) 697-8500 fax: (651) 697-8555 www.ehlers-inc.com
Table of Contents
(for reference purposes only)
Section 1 - Municipal Action Taken ............................................................................... 1‐1
Section 2 - Introduction ................................................................................................... 2‐3
Section 3 - Redevelopment Plan
for Southeast Edina Redevelopment Project Area ..................................................... 3‐1
Subsection 3-1. Definitions ................................................................................................... 3‐1
Subsection 3-2. Statutory Authority...................................................................................... 3‐2
Subsection 3-3. Statement of and Finding of Public Purpose ............................................ 3‐3
Subsection 3-4. Statement of Objectives ............................................................................. 3‐4
Subsection 3-5. Statement of Public Facilities and Costs to be Financed ......................... 3‐5
Subsection 3-6. Funding of Developments and Redevelopments ..................................... 3‐5
Subsection 3-7. Environmental Controls ............................................................................. 3‐5
Subsection 3-8. Proposed Reuse of Property ..................................................................... 3‐5
Subsection 3-9. Open Space to Be Created ....................................................................... 3‐6
Subsection 3-10. Administration and Maintenance of the Southeast
Edina Redevelopment Area ....................................................................... 3‐6
Subsection 3-11. Rehabilitation .............................................................................................. 3‐6
Subsection 3-12. Relocation ................................................................................................... 3‐6
Subsection 3-13. Property Acquisition ................................................................................... 3‐6
Subsection 3-14. Modification of the Redevelopment Area Plan
and/or Southeast Edina Redevelopment Project Area ............................ 3‐7
Subsection 3-15. Description of Boundaries of Southeast Edina
Redevelopment Project Area .................................................................... 3‐7
Appendix A ........................................................................................................................ A‐1
Appendix B ........................................................................................................................ B‐1
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 1-1
Section 1 - Municipal Action Taken
Based upon the statutory authority described in the Redevelopment Plan attached hereto, the public
purpose findings by the City Council and for the purpose of fulfilling the City’s development objectives
as set forth in the Redevelopment Plan, the City Council has created, established and designated the
Southeast Edina Redevelopment Plan pursuant to and in accordance with the requirements of Minnesota
Statutes, Section 469.001 to 469.047.
The original and amended Southeast Edina Redevelopment Plan documents and amendments have
designated the Southeast Edina Redevelopment Plan as a redevelopment project and also a tax increment
financing plan for tax increment districts created prior to 1988. The Centennial Lakes Tax Increment
Financing District was created in 1988 pursuant to Tax Increment Financing Plan 88-1, which was
subsequently renamed the Centennial Lakes Tax Increment District and referred to by Hennepin County
as District #1203 and #1249.
For purposes of clarification, this modification will refer to the Southeast Edina Redevelopment Plan as
the Southeast Edina Redevelopment Project Area Plan pursuant to Minnesota Statutes 469.002. The
following municipal action has been taken with regard to the Southeast Edina Redevelopment Project
Area Plan:
September 29, 1977: The Housing and Redevelopment Authority of Edina (the “HRA”) approved the
Southeast Edina Redevelopment Plan.
October 5, 1981: The Southeast Edina Redevelopment Plan was amended to identify project costs and
bonded indebtedness incurred to finance those costs.
May 6, 1985: The HRA and the City approved an amendment to the Southeast Edina Redevelopment Plan
which includes the establishment of an interest reduction program and enlarges the project area to include
the “1985 Project Area.”
August 19, 1985: The HRA and the City approve d the First Amendment to the 1985 Amendment to the
Southeast Edina Redevelopment Plan to enlarge the 1985 Project Area and to authorize the issuance of
additional bonds to acquire land within the enlarged 1985 Project Area.
1987: The HRA and City approved the 1987 Amendments to the Southeast Edina Redevelopment Plan to
enlarge the project area to include the 1987 Project Area.
1988: The HRA and City approved the 1988 Amendments to the Southeast Edina Redevelopment Plan
provides and Interest Reduction Program in the amount of $2,500,000 to assist in the financing and
construction of housing units, and authorizes the HRA and City to incur bonded indebtedness.
February 21, 2012: The HRA and City expand the Southeast Edina Project Area as can be seen in
Appendix A. The Centennial Lakes Tax Increment Financing District is established.
April 17, 2012: The Southdale 2 Tax Increment Financing District is established.
February 18, 2014: The Pentagon Park Tax Increment Financing District is established.
March 2, 2016: The Grandview 2 Tax Increment Financing District is established.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 1-2
April 5, 2016: The Southdale 2 Tax Increment Financing District is modified and the 66 West Tax
Increment Financing District is established.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 1-3
Section 2 - Introduction
The HRA and City Council previously established a redevelopment plan and a redevelopment project
designated as the Southeast Edina Redevelopment Plan pursuant to Minnesota Statutes, Sections 468.001
through 469.047, inclusive, as amended, in an effort to encourage development and redevelopment of
certain areas within the City. Prior plans have referred to both the redevelopment project and the
redevelopment plan as the “Southeast Edina Redevelopment Plan”. For purposes of clarification,
modifications to the Southeast Redevelopment Plan will refer to the redevelopment project as the
“Southeast Redevelopment Project Area” or “Redevelopment Area” and the redevelopment plan will be
referred to as the “Southeast Redevelopment Area Plan” or “Redevelopment Plan”.
The purpose of Modification No. 5 to the Redevelopment Plan for the Southeast Edina Redevelopment
Project Area is to accomplish the following:
1. Expand the boundaries of the Southeast Edina Redevelopment Area to include the property
shown in Appendix A.
2. Reflect the City’s significant growth and planning efforts that have occurred since the original
Redevelopment Plan was adopted on September 29, 1977. Furthermore, the City has identified
several areas in the City that are in need of redevelopment or intensified development to
achieve the community development goals of the City. This Modification No. 5 addresses the
City’s updated goals for a variety of land uses, including low to moderate income and elderly
housing, mixed-use development, and commercial nodes within the City. In particular, the
City’s updated goals include improvements to public roads, streets, transit, bicycle, and
pedestrian connections to make the areas of the city containing multi-family housing, and
mixed-use or commercial development accessible to all modes of transportation.
Modification No. 5 to the Redevelopment Plan for the Southeast Edina Redevelopment Project Area is
comprised of Section 3 (subsections 3-1 through 3-15) which replaces in its entirety the original
Redevelopment Plan. The prior documents, including modifications to the original Redevelopment Plan,
are attached as Appendix B for reference only.
Modification Nos. 6 through 9 are being incorporated to reflect the establishment of various tax increment
financing districts within the Southeast Edina Redevelopment Project Area.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-1
Section 3 - Redevelopment Plan for Southeast Edina Redevelopment Project Area
Subsection 3-1. Definitions
The terms defined below shall, for purposes of this Redevelopment Plan, have the meanings herein
specified, unless the context otherwise specifically requires.
"HRA" means the Edina Housing and Redevelopment Authority.
"City" means the City of Edina.
"City Council" means the City Council of the City of Edina.
"Comprehensive Plan" means the documents which contain the objectives, policies, standards and
programs to guide public and private land use, development, redevelopment and preservation for all lands
and water within the City.
"County" means Hennepin County, Minnesota.
"Enabling Act" means Minnesota Statues, 469.001 to 469.047, as amended and supplemented from
time to time.
"Redevelopment Area" or “Redevelopment Project Area” means the real property within the City
constituting the Southeast Edina Redevelopment Project Area, as described in the Redevelopment Plan,
and which constitutes a redevelopment project pursuant to Minnesota Statutes 469.002.
"Redevelopment Plan" means this Redevelopment Plan for Southeast Edina Redevelopment Project
Area, as initially proposed, and as it shall be modified.
"HRA Act" means Minnesota Statutes, Section 469.001 through 469.047.
"Land Use Regulations" means all federal, state and local laws, rules, regulations, ordinances, and
plans relating to or governing the use of development of land in the City, including but not limited to
environmental, zoning and building code laws and regulations.
"Public Costs" means the costs set forth in the Tax Increment Financing Plan, and any other costs
eligible to be financed by Tax Increments under the TIF Act, HRA Act or the Municipal Development
District Act.
"Public Improvements" means the public improvements described in the Redevelopment Plan and
Tax Increment Financing Plan.
“Southeast Redevelopment Area Plan” means the Redevelopment Plan.
“Southeast Redevelopment Plan” means the redevelopment project and the redevelopment plan
initially adopted by the HRA and City Council on March 7, 1988 and subsequently modified. In this
modification the term “Southeast Redevelopment Plan” has been replaced with “Southeast
Redevelopment Project Area” when referencing the redevelopment project area, and the “Southeast
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-2
Redevelopment Area Plan” when referencing the redevelopment area plan.
“Southeast Redevelopment Project Area” means the Redevelopment Area.
"State" means the State of Minnesota.
"Tax Increment Bonds" means any tax increment bonds or notes issued by the City to finance the
Public Costs as stated in the Redevelopment Plan for the Southeast Edina Redevelopment Project Area
and in the Tax Increment Financing Plans, and any obligations issued to refund such bonds.
"TIF Act" means Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended.
"Tax Increment Financing District" means any tax increment financing district presently established
or to be established in the future in Southeast Edina Redevelopment Project Area.
"Tax Increment Financing Plan" or "Plan" means the Plans adopted by the HRA or City for any Tax
Increment Financing District.
Subsection 3-2. Statutory Authority
The Enabling Act authorizes the HRA, upon certain public purpose findings by the HRA and City, to
establish and designate development and redevelopment projects within the City and to establish, develop
and administer redevelopment plans therefore to meet the needs and accomplish the public purposes
specified in Statement of and Finding pf Public Purpose. In accordance with the purposes set forth in the
Enabling Act, the HRA and City have established the Redevelopment Project comprising the area
described on the attached Exhibit A and has adopted this Redevelopment Plan therefore.
Within the Southeast Edina Redevelopment Area, the HRA and City have created tax increment financing
districts established pursuant to the Tax Increment Act to finance the public and private improvements
proposed for the Redevelopment Area. The public improvements may be initially financed from other
City sources, including, but not limited to the use of improvement bonds issued pursuant to Minnesota
Statutes, Chapter 429, which sources the City may reimburse from tax increment proceeds derived from
tax increment districts created with the Southeast Edina Redevelopment Area.
Any future tax increment district will be created at such time as will enable the HRA and City to capture
the increase in taxable value of private improvements to be constructed within the Southeast Edina
Redevelopment Project Area.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-3
Subsection 3-3. Statement of and Finding of Public Purpose
The HRA has determined that there is a need for the HRA to take certain actions designed to encourage,
ensure and facilitate development and redevelopment by the private sector of underutilized and unused
land located within the corporate limits of the City, in order to provide additional employment
opportunities for residents of the City and the surrounding area, to improve the tax base of the City, the
County and the school districts thereby enabling them to better utilize existing public facilities and
provide needed public services, and to improve the general economy of the City, the County, and the
State. Specifically, the HRA has determined that the property within the Redevelopment Project Area is
either underutilized or unused due to a variety of factors, including inadequate public improvements to
serve the property; which has resulted in a lack of private investment; that, as a result, the property is not
providing adequate employment opportunities, and is not contributing to the tax base and general
economy of the City, the school districts, the County and the State to its full potential; and, therefore, that
it is necessary for the City to exercise its authority under the Enabling Act and the Tax Increment
Financing Act to develop, implement and finance a program designed to encourage, ensure and facilitate
the commercial development and redevelopment of the property located in the Redevelopment Project, to
further and accomplish the public purposes specified in this paragraph.
The development proposed for the Redevelopment Project Area would not occur solely through private
investment in the foreseeable future. The welfare of the City, County and the State of Minnesota requires
active promotion, attraction, encouragement and development of economically sound industry and
commerce by the HRA.
The HRA and City have also determined that any tax increment financing plans to be proposed herein
will be consistent with the Redevelopment Area Plan, and that the tax increment financing plans will
afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development
or redevelopment of the Redevelopment Project Area by private enterprise.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-4
Subsection 3-4. Statement of Objectives
The HRA and City determine that it is necessary, desirable and in the public interest to establish,
designate, develop and administer the Redevelopment Project Area. The HRA and City determine that
the establishment of the Southeast Edina Redevelopment Project Area will provide the City with the
ability to achieve certain public purpose objectives not otherwise obtainable in the foreseeable future
without City intervention in the normal development process. The City seeks to achieve the following
program objectives:
1. Promoting and securing the prompt development of property in the Redevelopment Project Area
in a manner consistent with the City's planning and with a minimal adverse impact on the
environment, which property is less productive because of the lack of proper utilization and lack
of investment, and thereby promoting and securing the development of other land in the City;
2. Promoting and securing additional employment opportunities within the Redevelopment Project
Area and the City for residents of the City and the surrounding area, thereby improving living
standards and preventing unemployment and the loss of skilled and unskilled labor and other
human resources in the City;
3. Securing the increase in value of property subject to taxation by the City, Independent School
Districts No. 280 and 271 and 273 and Hennepin County, and any other taxing jurisdictions in
order to better enable such entities to pay for public improvements and governmental services and
programs required to be provided by them;
4. Supporting multi-pronged transportation strategies and securing the construction and providing of
moneys for the payment of the cost of public improvements in the Redevelopment Area, which
are necessary for the orderly and beneficial development of the Redevelopment Area;
5. Extending the open space corridor north from Centennial Lakes to Southdale to create increased
opportunities for pedestrian and bicycle pathways, increased transit circulation, and improved
connections between residential, mixed-use, and commercial neighborhoods.
6. Supporting the redevelopment of existing sites into more densely developed mixed-use sites that
include retail, housing, and employment uses to encourage more walkable neighborhoods.
7. Increasing the capacity of streets, roadways, bridges, and transit facilities serving the
Redevelopment Project Area to support development growth that has occurred and will occur.
Provide and secure the construction and moneys for the payment of the cost of public
improvements associated with such transportation improvements, including pedestrian crossings.
8. Providing and securing the development of increased opportunities for families to reside in
quality owner-occupied housing, for senior citizens to choose from housing options which offer a
wide array of services without regard to income, and for residents looking for a wide range of
multi-family units.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-5
9. Encouraging the expansion and improvement of local business, economic activity and
development, whenever possible.
10. Creating a desirable and unique character within the Redevelopment Project through quality land
use alternatives and design quality in new buildings.
Subsection 3-5. Statement of Public Facilities and Costs to be Financed
The preceding objectives will be promoted by providing improvements and opportunities within the
Redevelopment Project Area which may include various types of site improvements, land acquisition,
redevelopment, demolition, parking, street, sewer, water and other public improvements. A description of
the items of expenditure and the estimated costs can be found in the Tax Increment Financing Plans for
the Tax Increment Financing Districts created within this Redevelopment Project Area.
Subsection 3-6. Funding of Developments and Redevelopments
To implement the established objectives, the City plans to utilize a number of public and private financing
tools. Funding of the necessary activities and improvements in the Redevelopment Project Area is
expected to be accomplished through, and is not limited to, tax increment financing, special assessments,
state aid for road construction, proceeds from the sale of property, and federal and state grants.
Any public facilities within the Redevelopment Area will be financially feasible and compatible with
longer range development plans. Any acquisition of property for the public improvements will be done to
provide the impetus for private development within the Redevelopment Area.
Subsection 3-7. Environmental Controls
All municipal actions, public improvements and private development shall be carried out in a manner
consistent with existing environmental controls and all applicable Land Use Regulations.
Subsection 3-8. Proposed Reuse of Property
The Redevelopment Plan contemplates that the HRA or City may acquire property and reconvey the same
to another entity or dedicate the property to permanent right-of-ways and easements needed for public
improvements. Prior to formal consideration of the acquisition of any property, the HRA or City will
require the execution of a binding development agreement with respect thereto and evidence that Tax
Increments or other funds will be available to repay the Public Costs associated with the proposed
acquisition. It is the intent of the HRA and City to negotiate the acquisition of property whenever
possible. Appropriate restrictions regarding the reuse and redevelopment of property shall be
incorporated into any development agreement to which the HRA is a party.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-6
Subsection 3-9. Open Space to Be Created
Any open space within the Redevelopment Area will be created in accordance with the zoning and
ordinances of the City.
Subsection 3-10. Administration and Maintenance of the Southeast Edina
Redevelopment Area
Maintenance and operation of the Redevelopment Plan will be the responsibility of the Executive Director
of the HRA. Each year, the administrator of the Redevelopment Area will submit to the City Council the
maintenance and operation budget for the following year.
The administrator of the Redevelopment Plan will administer the Redevelopment Plan pursuant to the
provision of the Enabling Act; provided, however, that such powers may only be exercised at the
direction of the HRA. No action taken by the administrator of the Redevelopment Area pursuant to the
above-mentioned powers shall be effective without authorization by the HRA.
Subsection 3-11. Rehabilitation
Owners of properties within the Redevelopment Area may be encouraged to rehabilitate their properties
to conform with the applicable state and local codes and ordinances, as well as any design standards.
Persons who purchase property within the Redevelopment Area from the City may be required to
rehabilitate their properties as a condition of sale of land. The City may provide such rehabilitation
assistance as may be available from federal, state or local sources.
Subsection 3-12. Relocation
Any person or business that is displaced as a result of the Redevelopment Program will be relocated in
accordance with Minnesota Statutes, Section 117.50 to 117.56. The HRA accepts its responsibility for
providing for relocation assistance pursuant to the Enabling Act.
Subsection 3-13. Property Acquisition
The HRA or City intends to acquire such property, or appropriate interest therein, within the
Redevelopment Area as the HRA or City may deem to be necessary or desirable to assist in the
implementation of the Redevelopment Program.
Edina Housing & Redevelopment Authority Southeast Edina Redevelopment Project Area Plan 3-7
Subsection 3-14. Modification of the Redevelopment Area Plan and/or Southeast
Edina Redevelopment Project Area
The HRA and City reserve the right to alter and amend the Redevelopment Program and the Tax
Increment Financing Plans, subject to the provisions of state law regulating such action. The HRA and
City specifically reserves the right to enlarge or reduce the size of the Redevelopment Area and the Tax
Increment Financing District, the Redevelopment Program, the Public Costs and the amount of Tax
Increment Bonds to be issued to finance such cost by following the procedures specified in Minnesota
Statutes, Section 469.175, subdivision 4.
Subsection 3-15. Description of Boundaries of Southeast Edina Redevelopment
Project Area
The boundaries of the Redevelopment Area shall be expanded to include all properties shown on the map
in Appendix A.
Appendix A A-1
Appendix A
Boundary Map of the Southeast Edina Redevelopment Project Area
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St Peters Lutheran Church & School
FireStation
PublicWorks
GraceChurchPublicLibrary
ConcordSchool
EdinaCovenant
CorneliaSchool
ColonialChurch
HighlandSchool
CalvaryLutheran
EdinaHighSchool
Our Lady ofGrace Church& School
SouthviewJr High
CrossviewLutheran
CountrysideSchool
St Albans Episcopal Valley ViewJr High
Creek Valley School
NormandaleLutheran
ColonyParkBaptist
St PatricksCatholic
CreekValley Baptist
NormandaleElementary
St StephensEpiscopal
EdinaCommunityCenter
GoldenYearsMontessor
CalvinChristianSchool
GoodSamaritanMethodist
EdinaMorningsideChurch
ChristPresbyterianChurch
ChapelHillsCongregtional
Shepard of the HillsLutheran
Edina Community Lutheran Church
FireStation
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54TH ST W
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HWY 62
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Engineering Dept.
March, 2012
Southeast Edina Redevelopment Project Areaand Southdale 2 TIF District
Southdale 2 TIF District
Project Area
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St Peters Lutheran Church & School
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PublicWorks
GraceChurchPublicLibrary
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EdinaCovenant
CorneliaSchool
ColonialChurch
HighlandSchool
CalvaryLutheran
EdinaHighSchool
Our Lady ofGrace Church& School
SouthviewJr High
CrossviewLutheran
CountrysideSchool
St Albans Episcopal Valley ViewJr High
Creek Valley School
NormandaleLutheran
ColonyParkBaptist
St PatricksCatholic
CreekValley Baptist
NormandaleElementary
St StephensEpiscopal
EdinaCommunityCenter
GoldenYearsMontessor
CalvinChristianSchool
GoodSamaritanMethodist
EdinaMorningsideChurch
ChristPresbyterianChurch
ChapelHillsCongregtional
Shepard of the HillsLutheran
Edina Community Lutheran Church
FireStation
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50TH ST W
54TH ST W
58TH ST W
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HWY 62
HWY 62
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Engineering Dept.
December, 2013
Southeast Edina Redevelopment Project Areaand Proposed Pentagon Park TIF District
Project Area
Proposed Pentagon Park TIF District
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St Peters Lutheran Church & School
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EdinaCovenant
CorneliaSchool
ColonialChurch
HighlandSchool
CalvaryLutheran
EdinaHighSchool
Our Lady ofGrace Church& School
SouthviewJr High
CrossviewLutheran
CountrysideSchool
St Albans Episcopal Valley ViewJr High
Creek Valley School
NormandaleLutheran
ColonyParkBaptist
St PatricksCatholic
CreekValley Baptist
NormandaleElementary
St StephensEpiscopal
EdinaCommunityCenter
GoldenYearsMontessor
CalvinChristianSchool
GoodSamaritanMethodist
EdinaMorningsideChurch
ChristPresbyterianChurch
ChapelHillsCongregtional
Shepard of the HillsLutheran
Edina Community Lutheran Church
FireStation
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HWY 62
HWY 62
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Engineering Dept.
January, 2016
Project Area
Southeast Edina Redevelopment Project Areaand Grandview 2 TIF District
Grandview 2 TIF District
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f
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l
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a
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CityHall
St Peters Lutheran Church & School
FireStation
Public Works &Park Maintenance
GraceChurchPublicLibrary
ConcordSchool
EdinaCovenant
CorneliaSchool
ColonialChurch
HighlandSchool
CalvaryLutheran
EdinaHighSchool
Our Lady ofGrace Church& School
SouthviewJr High
CrossviewLutheran
CountrysideSchool
St Albans Episcopal Valley ViewJr High
Creek Valley School
NormandaleLutheran
ColonyParkBaptist
St PatricksCatholic
CreekValley Baptist
NormandaleElementary
St StephensEpiscopal
EdinaCommunityCenter
GoldenYearsMontessor
CalvinChristianSchool
GoodSamaritanMethodist
EdinaMorningsideChurch
ChristPresbyterianChurch
ChapelHillsCongregtional
Shepard of the HillsLutheran
Edina Community Lutheran Church
FireStation
BL
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F
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66TH ST W
YO
R
K
A
V
E
S
INTERLACHEN BLVD
MALONEY AVE
44TH ST W
50TH ST W
54TH ST W
58TH ST W
GL
E
A
S
O
N
R
D
70TH ST W
76TH ST W
DEWEY HILL RD
VALLEY V
I
E
W
R
D
VALLEY VIEW RD
MINNESOTA DR78TH ST W
I-494
I-494
HW
Y
1
0
0
HW
Y
1
6
9
HW
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1
6
9
HW
Y
1
0
0
HWY 62
HWY 62
/
Engineering Dept.
December, 2015
Project Area
Southeast Edina Redevelopment Project Areaand 66 West TIF District
66 West TIF District
Appendix B B-1
Appendix B
Original Development Program and Modifications