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HomeMy WebLinkAbout1998-04-20_BOARD OF REVIEWHC 586 (2/84) CERTIFICATION OF POSTING OF ASSESSMENT NOTICE State of Minnesota COUNTY OF Hennepin ss, City OF Edina 1, Debra Mangen , Clerk of the City of Edina in said County for the year 19 98 , do hereby certify that on the 3rd day of Apr i 1 , 1998 , in conformity with requirements of law,'I posted notices in each of three of the most public places in said City ten days before the time of meeting therein named, and also caused such notice to be published in a legal newspaper, of which the following is a true copy, to -wit: 'Posted by Edina Pol ice ASSESSMENT NOTICE NOTICE IS HEREBY GIVEN, That the Board of Review of the City of Edina in Hennepin County, Minnesota, will meet at the office of the City Clerk in said City at 5:00 o'clock P . M., on Monday , the 13th day of Ap r i 1 , 19 98 for the purpose of reviewing and correcting the assessment of said City of Edina for the year 1998 . All persons considering themselves aggrieved by said assessment, or who wish to complain that the property of another is assess- ed too low, are hereby notified to appear at said meeting and show cause for having such assessment corrected. No complaint that another person is assessed too low will be acted upon until the person so assessed, or his agent, shall have been notified of such complaint. Dated the 3rd day of Apr i 1 —1998- Clerk of the City of E d i n a Given under my hand this day of ,11,�9 7e Ile'-�- Clerk State of Minnesota, COUNTY OF HENNEPIN City of Edina ;;G n. WM N NOTARY PUBLIC • VI N IPWA ss. NENNEPM COUNTY My CoieMWW &Pkn j1L 3I, M We, the undersigned, Board of Review of the C i t y of Edina in said County, do hereby certify that we, and each of us, attended at the office of the C i t y Clerk of said C i t y of Ed i n a on the day set forth in the notice given by the Clerk of said C i t y o f E d i n a , and that we then and there remained in session the whole of said day as a Board of Review. - Witness our hands this N NOTICE TO ASSESSOR Assessor must make the necessary footings at bottom of each page and carry them forward to the "Tabular Statement" form, and in so doing use all possible care. Minnesota Statutes, Section 274.04. The assessor shall foot each column in his assessment book, and make in each book, under proper headings, a tabular statement showing the footings of the several columns upon each page. He shall also foot the total amounts of the several columns under the respective headings. * * ' Such return shall be verified by his affidavit substantially in the following form: To Be Signed By County Assessor To Auditor of the County of State of Minnesota County of I, ASSESSOR'S RETURN OATH SS. , Minnesota. , County Assessor of the County of do solemnly swear that the book to which this is attached contains a correct and full list of all Real and Personal Property subject to assessment and taxation in the of for the year 19 , so far as I have been able to ascertain the same, and that the market value, except as limited by statute, and the assessed value, except as limited by statute, set down in the property column, opposite the several kinds and descriptions of property, is in each case the market value, except as limited by statute, and assessed value, except as limited by statute, of such property, to the best of my knowledge and belief, including all changes made by the Board of Review, and that the footings of the several columns in said book and the tabular statements returned herewith are correct, as 1 verily believe. Subscribed and sworn to before me this day of Auditor of F- T e#TION OF NOTICE ON INCREASED VALUATIONS °•� StataM�esota County of - .....4...,, .« _..,,,.._ .. . _ SS. Of County Assessor ,19 County I, County Assessor of County, Minnesota, do solemnly swear that the owner or occupant of each description of real property which was subjected to an increase in market value over the preceding year's assessment was given official notice of the amount of such increases. I further certify that all such notices were sent through the course of ordinary mail not less than ten days prior to the duly convened or on Moak Do Ya on which M-A Day Ym Of Board of Review ten days prior to the official adjournment thereof. Date Signature: Poor Quality Document Disclaimer The original or copy of a document or page of a document presented at the time of digital scanning contained within this digital file may be of substandard quality for viewing, printing or faxing needs. STATE OF MINNESOTA County of Hennepin HC 211 (p.1) City of Edina We, the undersigned, Board of Review - "Equalization - of the Ci ty of Edina In said County, do hereby certify that we, and each of us, attended at the olftee -efthe City of Edina Council Chapters irk on the 20th day of apri 1 , 19 98 . The day set forth in the notice given by the Clerk, and in accordance with the provisions of Minne to Statutes, Section 274.01. We made ch nges the 19,98 Assessment as entered In the following form(s). Witness our hands this da f ,19 1i1/� L Chair ) CHANGES MADE BY THE LOCAL BOARD OF REVIEW `Applies on to Cities whose Charters provide for a Board of Equalization instead of a Board of Review. Prakash Kaiiiiala Puram 05- 116 -21 -41 -0066 Y P, N/C Brent C /Jo ce C.Fosse 06- 116 -21 -23 -0020 Y R N/C Theodor Herman 06- 116 -21 -32 -0047 Y R N/C Donald H. Hansen 06- 116 -21 -32 -0071 Y R "N/C Robert Levine 08- 116 -21 -11 -0018 N A N/C James D. r '' Cheryl A. Eastbourne 28- 117 -21 -23 -0100 Y R 13,400 172,600 36,900 135,700 VernbR8pltJAP'll8V Nkjornnes,Jr 28- 117 -21 -33 -0038 N A N/C Grandview Cemetery Assoc. 30- 117 -21 -23 -0001 N LR N/C Gras-idview Cemetery Assoc. 30- 117 -21 -23 -0002 N R N/C Grandview Cemetery Assoc. 30- 117 -21 -24 -0002 N LR N/C LincoU'D ?? WaPa to �Rrnnes, r 30- 117 -21 -32 -0019 N A N/C Linc gq., Tqa Pahtn �yrnnes, r 30- 117 -21 -33 -0064 N A N/C Dennis S /Sandra L. Walsh 30- 117 -21 -42 -0021 Y RL 35,000 700,000 215,000 485,000 Kit V /Sunionda V. Arom 30- 117 -21 -43 -0063 V RL VC Robert J. /Hargaret Fink 31- 117 -21 -11 -0008 Y R 55,600 390,000 82,000 308,000 4 Hilbert S. Weiner 31- 117 -21 -32 -0085 Y X N/C HC 211 (p.2) CHANGES MADE BY THE LOCAL BOARD OF REVIEW *Applies only to Cities whose Charters provide for a Board of Equalization Instead of a Board of Review. David D-/Lisa Ann a drid a 05- 116 -21 -31 -0043 Y R N/C Jo hn J./Sylvia L. Carlson 32- 117 -21 -12 -0047 Y R N/C Irvin G /Charlotte E. Nudell 07- 028 -24 -13 -0040 Y R N/C Geor ine Peter Johnson Jr. 07- 028 -24 -42 -0042 Y R N/C Timothy G /Kristi K. Healy 07- 028 -24 -43 -0058 Y R 11,000 216,000 40,000 176,000 Marie L. Hidem /Michael Nankey 07- 028 -24 -44 -0050 Y R 5,300 146,000 29,500 116,500 Hichael A /Allison B. Pelach 18- 028 -24 -14 -0056 Y R N/C Frank A. Janet A. Lederle 18- 023 -24 -21 -0037 Y R N/C Calvin H. Sandra L. Simmons 18- 028 -24 -24 -0009 Y R N/C Jacqueline S. Mithun 18- 028 -24 -44 -0067 Y R N/C John B /Anne Marie Rogers 19- 028 -24 -14 -0063 Y R N/C Donald M /Caryn S. Gjevre 31- 028 -24 -21 -0009 Y R N/C Gary L. Phillips 32- 028 -24 -24 -0361 Y X N/C memorandum Date: 04/17/98 To: Edina Board of Review Members From: Rick Petersburg, SAMA RE: Board of Review Reconvene -April 20, 1998 - 5:00 p.m. -Council Chambers This packet of information includes: • Updated assessor commentaries for Case #7 and #23. • New assessor commentaries for Case #29, #30 and #31. • Assessor commentaries for three (3) letters. • Board Action Summary worksheet. 04/01/98 CITY OF EDINA 1998 BOARD OF REVIEW MARKET VALUES AND CLASSIFICATION SUMMARY °:Src ... si.aFF �o�aR .. *� etraNrc:.::. 'PP: ARQR .. . •. . ©R1G1..�9[..... RCJEIFStfD;.::.:::: RCL�it9hfEl�D�4T )OA! ..:.::::::.:::'.: sIGrL ON:::.:.:.: .::'.:.:V�FE::::ORtf� /NAI::'.:. 1 Gary 7350 York Ave S $ 47,900 $ 43,500 $ 47,900 Page 1 Phillips 32 -028 -24 -24 -0361 2 Dennis 5012 Schaefer Rd $ 735,000 $ 535,000 $ 735,000 Walsh 30- 117 -21 -42 -0021 3 Irving 4015 Lynn Ave $ 137,200 $ 132,000 $ 137,200 N udell 07- 028 -24 -13 -0040 4 Richard 5700 Tucker Ln $ 217,900 Application Withdrawn Not Johnson 31- 117 -21- 23-0062 Required 5 Peter 4309 42nd St W $ 131,900 $ 124,500 $ 131,900 Johnson Jr. 07 -028 -24 -42 -0042 6 Frank A. 4507 Browndale Av $ 464,800 $ 420,000 $ 464,800 Lederle 18-028 -24 -21 -0037 7 Sumondra 5200 Schaefer Rd $ 1,916,800 $ 1,650,000 $ 1,916,800 Arom 30- 117 -21 -43 -0063 8 Janet 4302 Branson $ 173,800 Application Withdrawn Not Leary 07- 028 -24 -43 -0110 Required 9 Gage 7719 Marth Ct $ 465,100 Application Withdrawn Not Walker 08- 116 -21 -34 -0095 Required Page 1 CITY OF EDINA 1998 BOARD OF REVIEW MARKET VALUES AND CLASSIFICATION SUMMARY S47 . .. . . ... ... .............. . ................ . ........ .......... ........... ... W ... .... ... 'A ew ... .. ... ........... ...... . .... ... . ... O-)A 10 John 5509 Merritt Circle $ 189,000 $ 179,000 $ 189,000 Carlson 32-117-21-12-0047 11 Prakash 6627 Limerick Dr $ 244,500 $ 229,000 $ 244,500 Puram 05-116-21-41-0066 12 Donald H. 6737 Apache Rd $ 390,000 $ 375,000 $ 390,000 Hansen 06-116-21-32-0071 13 Dorothy 7204 Cornelia Dr $ 241,200 Application Withdrawn Not Rusan 31-028-24-13-0002 Required 14 Michael 4833 Towers Rd $ 180,800 $ 170,000 $ 180,800 Pelach 18-028-24-14-0056 15 James S. 6125 York Ave S $ 148,500 Application Withdrawn Not Erdall 20-028-24-34-0057 Required 16 Harry 6901 Maloney Ave $ 930,000 $ - $ 930,000 Lindberry 30- 117- 21 -23- 0002... 17 Mary A. 5745 Duncan Ln $ 183,000 Application Withdrawn Not Oelke 31-117-21-23-0032 Required 18 Jack S. 5029 Wooddale Ln $ 398,100 Application Withdrawn Not Jaycox 18-028-24-42-0087 Required Page 2 CITY OF EDINA 1998 BOARD OF REVIEW MARKET VALUES AND CLASSIFICATION SUMMARY ...... ........ ............. ........... - . - - - - .... .. ......... ...... . .. ..... ........ .............. .......... ... M.- VC ..... . -A-L' IN . ............ .M PAI .4 h! M ............ ;N 19 Jacqueline 5308 Halifax Ave $ 186,500 $ 177,000 $ 186,500 Mithun 18-028-24-44-0067 20 Jane Z. 5704 Duncan Ln $ 196,600 Application Withdrawn Not Weiss 31-117-21-23-0010 Required 21 Theodor 6720 Samuel Rd $ 155,300 $ 145,000 $ 155,300 Herman 06-116-21-32-0047 22 Michael J. 5207 Doncaster Way $ 246,200 Application Withdrawn Not Bolen 29-117-21-43-0041 Required 23 Norm Three Address $ 16,247,600 $ 14,567,800 $ 16,247,600 Bjorness Three Parcels 24 Timothy 4409 Momingside Rd $ 227,000 $ 179,000 $ 216,000 Healy 07-028-24-43-0058 25 Alan H. 5712 Duncan Ln $ 198,200 Application Withdrawn Not Peterson 31-117-21-23-0008 Required 26 Robert 5400 W 70th St $ 918,200 $ 760,000 $ 918,200 Levine 08-116-21-11-0018 27 James 7723 Tanglewood $ 249,700 $ 236,900 $ 249,700 Platt, Jr. 08-116-21-33-0142 Page 3 CITY OF EDINA 1998 BOARD OF REVIEW MARKET VALUES AND CLASSIFICATION SUMMARY IN.. .......:.........:.....:.......:.:. .:.:.:.:.:.:.:.:.:.:.:.:.:.:.:. :.:.:...:.:.:.::.:.:.:.:.:.199$ ..................... 13?9�.... ...........:.;.:.:.:.:.:.:.:.:. F�kFF.:.: .:.:.:.:.:.:................ -.. ©sf ,:e W� . . . . ...:.:. ..................... t+tU` ' ........PPd/Gs1N ........... I.EA ©D.,E55 ............... QRIGHd,9E............. REQl1FSIF ........... . ACT��NV:. �FEC�R491NAL::::::::: 28 Robert J. 6200 Parkwood Rd $ 445,600 $ 350,000 $ 390,000 Fink 31- 117 -21 -11 -0008 29 Mary 4007 Sunnyside Rd $ 151,300 $ 137,000 $ 146,000 Hidem 07 -028 -24 -44 -0050 30 Cheryl 5233 Hollywood Rd $ 186,000 $ 171,000 $ 172,600 Eastbourne 28- 117 -21 -23 -0100 Owner has accepted rn!s value! 31 Brent C. 6809 Indian Hilts Rd $ 209,400 $ 180,000 $ 209,400 Fossey 06- 116 -21 -23 -0020 $ 199,000 Letter 1 Anne & Britt 5641 Woodcrest Dr $ 325,000 ? $ 325,000 Rogers 19 -028 -24- 14-0063 Letter 2 Donald M. 7016 West Shore Dr $ 195,300 ? $ 195,300 Gjevre 31 -028 -24 -21 -0009 Letter 3 Gary 1 7215 Cahill Rd $ 5,290,800 $ 3,527,000 $ 5,290,800 Pedersen 08- 116 -21 -14 -0001 Page 4 memorandum Date: 04/20/98 To: Edina Board of Review Members From: Rick Petersburg, SAMA RE: Board of Review Reconvene -April 20, 1998 - 5:00 p.m. -Council Chambers This packet of information includes: • Copies of two (2) letters received today April 20, 1998. • Revised Board Action Summary worksheet. 04/01/98 CASE # 7- City of Edina Board of Review. .4. x. x. v...: i.: iuuLuv'::::..;...: w:. w:::• :i.:uL:'.;.;•:i.:uiv:v....,...: .; x,.,..uv,.,",Nµ.xnw; .v......: vvv, :xvuuu .....vv n•.4.v.. nv..... .0 .. n.. nu.u.•...uu •vnv...xM1xv i�L'24 Assessors Commentary Property I.D. Number: 30- 117 -21 -43 -0063 Date: 4/16/98 Property Address: 5200 SCHAEFER ROAD Owner /Agent Name: KIT & SUMONDRA AROM Comments: — The Arom property was subdivided in 1995. Approximately one acre (lot) was subdivided off the back. The total land value before the division was $300,000. The value assigned to the new lot was $95,000. Deducting the $95,000 from the $300,000 left a balance of $205,000, for the land component on the parent parcel for the 1995 Assessment. . PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID 30- 117 -21 -43 -0063 HOUSE# FRACTION STREET NAME UNIT ZIP +4 '200 1/_ SCHAEFER RD 55436+ Jwnerl: AROM KIT V Owner3: Owner2: AROM SUMONDA V Owner4: Zoning: R -1 Prim /sec: Yr.blt: 1989 Area: Sch.Dst: 270 Wshd: 01 Gr /Os /Ex: Subrecs: Mkt -Land Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT %Own 1998: 220000 1696800 1916800 H RL 100 1997: 220000 1659300 1879300 H RL 100 1996: 205000 1659300 1864300 H RL 100 Legal Description: LOT 2 BLOCK 1 AROM ADDITION CURB 319 NEXT Pt.Con: Mt.Adr: Front: 200 Back: 200 Right: 426 Left: 424 85000 Acres: 1.95 01 Width: 200 Depth: 425 PROPERTY ID 30- 117 -21 -43 -0063 PROPERTY DATA SYSTEM VALUE HISTORY INQUIRY PARCEL ADDRESS 5200 SCHAEFER RD ASMT SUB % PR PT HM EX Land/ Bldg/ YEAR REC OWN TP CN CD CD LMV Tax Mkt 1995 01 100 RL H 205000 1605000 1994 01 100 RL H 300000 1605000 PROPERTY ID 30- 117 -21 -43 -0063 PROPERTY DATA SYSTEM ASSESSOR COMMENTS C O M M E N T S CURR 340 NEXT Mach Total Impv 1810000 1905000 DIVISION NUMBER 95 -0198 6 -27 -1995 APPX 1 ACRE LOT SUBDIVIDED. $ 95,000 LAND VALUE ALLOCATED TO NEW LOT. REMAINING LOT VALUE ON AROM PROPERTY IS $205,000 CURR 105 NEXT CASE # 23 City of Edina Board of Review Assessor's Commentary Property I.D. Number: 28- 117 -21 -33 -0038; 30- 117 -21 -32 -0019; 30- 117 -21 -33 -0064 Date. 4/20/98 Property Address: 5400 VERNON AVE AND 5200 ABD 5241 LINCOLN DRIVE Owner /Agent Name: VERNON OAKS APARTMENTS AND LINCOLN APARTMENTS Comments: Additional income and expense information was submitted by taxpayer on April 13, 1998. A copy of that income. information is attached. A review and calculations are on the same pages for each apartment complex. A review of the capitalization rate comparable sales show a range from 7.99% to 8.74% Putting these cap rates in context of the current apartment market, I believe the 7.99% rate is the best indicator of market conditions which includes buyer exceptions. Using the 7.99% cap rate the effective tax rate for taxes payable in 1997, and the derived net operating income gives indicated market values of: 5400 Vernon Ave., 28- 117 -21 -33 -0038: $6,545,700 (per dwelling unit = $48,487) 5200 Lincoln Dr., 30- 117 -21 -32 -0019: $6,236,600 (per dwelling unit = $48,346) 5241 Lincoln Dr., 30- 117 -21 -33 -0064: $3,480,900 (per dwelling unit= $48,346) Total:. $16,263,200 These values are below the range of "per dwelling unit" sales prices as seen in the comparable sales. - Because the comparable sales indicate a value higher than the 1998 estimated market value, and the income approach strongly supports the 1998 estimated market value, I recommend no change. (THE ABOVE DESCRIBED INCOME AND EXPENSE INFORMATION IS 'NON PUBLIC INFORMATION') 4/16/98 VERNON OAKS APARTMENTS 5400 VERNON AVE PIN: 28- 117 -21 -33 -0038 1997 % OF VERNON WOODS OF EDINA DWELLING UNITS: ADJUSTED ATTN: NORMAN P. BJORNNES, JR MIX 1,247,666 S F 401 GROVELAND AVENUE 1 BR 1A 22 728 MINNEAPOLIS, MN 55403-3292 1A.1 2 801 1 BR 18 24 785 1 BR IC 12 754 BUILT 1987 1 BR 1D 2 947 1.000 1 BR 1E 1 947 1E.1 1 1058 BSMT PARKING 2 BR 2A 45 1051 2 GUEST SUITES 2 BR 2B/DEN 12 1208 ELEVATORS 2 BR 2C 12 1123 POOL - OUTDOORS 2 BR 2D 2 1087 0.004 TOTAL 135 33,633 EMV 1998 WOU LAND 540,000 BUILDING 6,060,400 TOTAL 6,600,400 48,892 1997 1997 % OF INCOME: ACTUAL ADJUSTED INCOME RENTS 1,247,666 1,247,666 VACANCY INCLUDED INCLUDED LAUNDRY INCLUDED INCLUDED CONC INCLUDED INCLUDED BAD DBT INCLUDED INCLUDED TOTAL INCOME 1,247,666 1,247,666 1.000 EXPENSES: ADVERTISE 839 839 0.001 CLEANG/MAINT 48,691 48,691 0.039 RENTAL FEES 6,318 6,318 0.005 INSURANCE 7,442 7,442 0.006 PROFESSIONAL 4,850 4,850 0.004 REPAIRS 33,633 33,633 0.027 UTILITIES 90,726 90,726 0.073 WAGES 109,115 109,115 0.087 MGMT FEES 61,293 61,293 0.049 ADMIN 1,637 1,637 0.001 CORP RENT EXP 0 0 0.000 SUPPLIES 19,093 19,093 0.015 GROUNDS MAINT 6,479 6,479 0.005 SNOW REM 7,222 7,222 0.006 TRASH 8,319 8,319 0.007 RESRVS(250 /DU) 33,750 33,750 0.027 EXTERM 643 643 0.001 AUTO/TRAVEL 39 39 0.000 TOT B/4 TAX 440,089 440,089 0.353 NET OPERATING INC 807,577 807,577 0.647 CAP RATE 0.080 ECTIVE TAX RATE'97 0.041 DIVISOR 0.121 VALUE W /PP 6,679,711 PERS PROP 1000 134,000 INDICATED VALUE 6,545,711 IND VAL/DU 48,487 Hrr. -1� -15 3 11=1b rruM r -a-MON CO. TO 8260390 P.02 VERONON OARS APARTb[RNTS 1997 Inoome Statcmont Income $1,247,566 Expenses Advertising $ 839 Auto and travel 39 cleaning /Maintenance 48,691 Leasing /Rental Fees 6,316 Insurance 7,442 Legal /Accounting 4,850 Repairs 33,633 Utilities 90,726 Wages /Benefice /Training 1091115 Management Fees G1,293 Administration 1,637 Supplies 19,093 Cround3 Maintenance G,479 Gnaw Rmmnval. 7,222 Rubbish Removal 81319 Rc3ervc3 at $275 /unit 37,125 Rxtprminating 643 TOTAL y 443,4G4 Net operating Income $ 804,202 Notes: 1. Capital items not included. 2. We estimate PersOilu1 pruperLy value aL $330,000. This category includes washer /dryer octo (44 units), ranges, refrigerators, microwaves; lobby (3 lobbies) f»rnishings, guest suite furnishings (2 3ue6L 6u1Lca), puul duct pdLiu furnishings, party room furnishings and appliances, project equipment, exercise room equipment and the like. 3. Until 1997, wn Hid not have a company paid medical insurance pi•ugi -ti m ur reLlremerit program. These benefits were added for all employees. b98ap825 TOTAL P.02 SF 728 785 1051 1208 1123 1087 1467 4/16/98 THE LINCOLN APARTMENTS 5200 S 5241 LINCOLN DRIVE PIN: 30- 117 -21 -32.0019 30. 117 -21- 33-0064 LINCOLN DRIVE PARTNERS BUILT 1990 ATTN: NORMAN P. BJORNNES, JR 401 GROVELAND AVENUE BASEMENT PARKING MINNEAPOLIS, MN 55403.3292 3 GUEST SUITES ELEVATORS POOL - OUTDOORS DWELLING UNITS: 5200/5220 (32 -0019) 5241 (33-0064) DWELLING UNITS: DWELLING UNITS: NSR SF NBR STUDIOS 6 505 1 BR 1A 10 1 BR 1A 43 728 1 BR 1B 12 1 BR 1B 6 785 2 BR 2A 25 1 BR 1E 6 927 2 BR 2B/DEN 12 2 BR 2A 39 1051 2 BR 2C 6 2 BR 2B /DEN 6 1208 2 BR 2D 1 2 BR 2C 18 1123 3 BR 3A 6 2 BR 2D 2 1087 2 BR 2E 3 1425 TOTAL 129 TOTAL 72 BOTH BUILDINGS 201 EMV 1998 $/DU 5200 LINCOLN LAND 645,000 BUILDING 5,546,500 TOTAL 6,191,500 5241 LINCOLN LAND 360,000 BUILDING 3,095,699 TOTAL 3,455,700 TOTAL E M V 9,647,200 47,996 1997 1997 % OF INCOME: ACTUAL ADJUSTED INCOME RENTS 1,905,330 1,905,330 VACANCY INCLUDED INCLUDED LAUNDRY INCLUDED INCLUDED CONC INCLUDED INCLUDED BAD DST INCLUDED INCLUDED UTIL REIMS INCLUDED INCLUDED TOTAL INCOME 1,905,330 1,905,330 1.000 EXPENSES: ADVERTISE 33,120 33,120 0.017 CLEANG / MAINT 50,332 50,332 0.026 RENTAL FEES 31,758 31,758 0.017 INSURANCE 11,554 11,554 0.006 PROFESSIONAL 5,774 5,774 0.003 REPAIRS 63,691 63,691 0.033 UTILITIES 121,333 121,333 0.064 WAGES 165,002 165,002 0.087 MGMT FEES 95,898 95,898 0.050 ADMIN 5,207 5,207 0.003 CORP RENT EXP 0 0 0.000 SUPPLIES 38,759 38,759 0.020 GROUNDS MAINT 7,535 7,535 0.004 SNOW REM 11,777 11,777 0.006 TRASH 13,030 13,030 0.007 RESRVS(2501DU) 50,250 50,250 0.026 EXTERM 965 965 0.001 AUTO / TRAVEL 198 198 0.000 TOTAL EXPENSES 706,183 706,183 0.371 NET OPERATING INCOME 1,199,147 1,199,147 0.629 CAP RATE (270 -1) 0.0799 EFFECTIVE TAX RATE 1997 0.0410 DIVISOR 0.1209 VALUE W /PP 9,918,503 PERS P_ ROP 1000 201,000 5200 5241 INDICATED VALUE 9,717,503 6,236,606 3,480,897 INDICATED VALUE / D U 48,346 SF 728 785 1051 1208 1123 1087 1467 4/16/98 Nrr. -1 —155a Le9:61 rAGM NAMPUhi W. 1-0 8260390 P.02 THE LINCOLN APARTHMITS Lincoln Drive Partners 1997 Income SLaLeuwnt Income $1,905,330 Expenses Advertising $ 33,120 Auto and travel 1 .9© Cleaning /Maintpnannp 50,332 Leas i119 /ReuLal Fees 31,758 Insurance 11,554 Legal /Accounting 5,774 Repairs 63,691 Utilities 121,333 wages /Benefits /Training 165,002 Management Fees 95,898 Administration 5,207 Supplies 38,759 Grounds Maintenance 7,535 Snow Removal 11,777 Rubbish Removal 13,030 Reserves at $275 /uniL 55,375 Exterminating 965 TOTAL $ 711,308 Net Operating income 51,194,022 Nnt..es 1. Capital items not included. 2. We estimate personal property value at 5540,000. This category includes washer /dryer sets (all units), ranges, rpfrige-ra.t.ors, microwaves; lobby (3 lobbies) furnishings, yueaL suite furnishings (3 guest suites), pool and patio furnishings, project equipment, exercise room equipment and the like. 3. The large increase in wages, etc. is due to addition of a full time leasing staff person and the costs of adding rnmDany paid medical insurance and a retirement plan. UuLil 1997, we did not have a company paid medical insurance program or retirement program. b98ap825 TOTAL P.02 ADDRESS CITY AGE/CONDITION SALE PRICE DATE OF SALE BUYER SELLER SOURCE BUILDING SIZE CONSTRUCTION SALE PRICE PER D. U. INDICATED CAP RATE 4/16/98 COMPARABLE SALES For Capitalization Rates COMPARABLE #1 2380 Larpenteur Ave W Lauderdale 1987 / Ave $ 4,165,000 cash equivalent Nov -97 City Gables AJC, LLC Roseville Estates Certificate of Real Estate Value 84 dwelling units wood frame $ 49,583 8.68% Ramsey County Assessor's Office advised that the buyer is not a Real Estate Investment Trust. It appears to be a local family investment. ADDRESS CITY AGE/CONDITION SALE PRICE DATE OF SALE BUYER SELLER SOURCE BUILDING SIZE CONSTRUCTION SALE PRICE PER D. U. INDICATED CAP RATE COMPARABLE #2 9300 Collegview Road Bloomington 1986 / ave to good $ 11,200,000 cash equivalent Sep-97 Poplar Bridge Apts, LLC Poplar Bridge Associates Certificate of Real Estate Value 171 dwelling units wood frame $ 65,497 8.74% The buyer is a local family which is heavily vested in apartment buildings. Page 1 ADDRESS CITY AGE/CONDITION SALE PRICE DATE OF SALE BUYER SELLER SOURCE BUILDING SIZE CONSTRUCTION SALE PRICE PER D. U, INDICATED CAP RATE 4/16/98 COMPARABLE SALES For Capitalization Rates COMPARABLE #3 7230 York Ave S Edina 1972 / Ave $ 15,285,705 cash equivalent Sep-97 York Plaza Apartments, LLP The Prudential Insurance Co. of America Certificate of Real Estate Value 260 dwelling units concrete $ 58,791 Not Available The buyer is a partnership of two local investors. ADDRESS CITY AGE/CONDITION SALE PRICE DATE OF SALE BUYER SELLER SOURCE BUILDING SIZE CONSTRUCTION SALE PRICE PER D. U. INDICATED CAP RATE COMPARABLE #4 11100 Anderson Lakes Parkway Bloomington 1987 $ 3,978,360 cash equivalent Jun -97 North Lyn Apartments Preserve Place Limited Partnership Certificate of Real Estate Value 77 dwelling units wood frame $ 51,667 7.99% The buyer is a local developer and investor. Page 2 Case # 29 City of Edina Board of Review Assessor's Commentary " Property I.D. Number: 07- 028 -24 -44 -0050 Date: 4/15/98 Property Address: 4007 SUNNYSIDE ROAD Owner /Agent Name: MARIE L HIDEM & MICHAEL L MANKEY Comments: We received the Board of Review application late on Friday afternoon and set up a review inspection for Monday the 13th at 3:00 P.M. We were unable to conclude any different value prior to the Board of Review hearing less than 1 1/2 hours away. The owners purchased this property in May of 1995 for $140,000. The house had been exposed on the market for some time. The purchase price was reflected in the following years Assessment. After reviewing sales in the immediate neighborhood, but also keeping in mind their sale price of nearly 3 years ago, we agree that the condition of the property warrants some consideration. We recommend a value reduction to $146,000. is.0w- Reflection 1 Mkt- Land 1998: 29500: 1997: 29500 ' 1996: 29500 Legal Description:: Mkt -Bldg Hkt -Mach, 121800 113300 110500 LOT 4 BLOCK 2 "HERKELEY HEIGHTS "' Hkt- Tot Tx Capacity Hd PT �Dwn 151300 H: R 100 142800 H R 100 140000 11 R 100 ;«zz• ...... .:z W11 v: :.. ............................... r y� °� w. :,,}::::.::.} x.:.`},:,%}}}}•:"::}}}}}} 2}}}} }K } } } } } } }::: }:T:.•1�:r,`: }iil }' '• }:,5:'E::�• 1MJ •A r•y;xx.:.vvxT..v } k2SCY' t<'<! 2< ttH •:Y<2kY['s'<kik'i;s;.'�••'•.ui ............................... ............................... .. PROPERTY ID ."-- - - -��- �� - -- _-- �`•.......••...� ...E ......., SALE DATE / X9/985 f:> .. / .... PROPERTY DATA SYSTEM SALES RECORD UPDATE CURR 108 --------- - - - - -- Address -------- - - - - -- 4007 1/ SUNNYSIDE RD TYPE SALES IEMARKS •'.ijy.iv. } } }} PRDPERTY:DATA:SYSTEM TAXPAYER: :INOUIRY CURB 319 PROPERTY ID NEXT Pt. Con.. Mt.Adr: HOUSEu.FRACTION:- `:.STREET NAME`= UNIT ZIP-4 !> Front: 50 Back: 50 40Jt7: = 1 /T RD 55424 +: Right: 107 Left: 1DG Owned : HIDEM :: MARIE L Oraner3: Owner2: MANKEY: MICHAEL L Oruier4: Zoning: R -1 Primisec:. Yr.blt::1917 Area: 9350 Acres: .00 Sch,DSt: 273 :Nshdt 03 Gr /Os /Ex:.': Subrecs: 01 Flidth: 50 Depth: 187 Mkt- Land 1998: 29500: 1997: 29500 ' 1996: 29500 Legal Description:: Mkt -Bldg Hkt -Mach, 121800 113300 110500 LOT 4 BLOCK 2 "HERKELEY HEIGHTS "' Hkt- Tot Tx Capacity Hd PT �Dwn 151300 H: R 100 142800 H R 100 140000 11 R 100 ;«zz• ...... .:z W11 v: :.. ............................... r y� °� w. :,,}::::.::.} x.:.`},:,%}}}}•:"::}}}}}} 2}}}} }K } } } } } } }::: }:T:.•1�:r,`: }iil }' '• }:,5:'E::�• 1MJ •A r•y;xx.:.vvxT..v } k2SCY' t<'<! 2< ttH •:Y<2kY['s'<kik'i;s;.'�••'•.ui ............................... ............................... .. PROPERTY ID ."-- - - -��- �� - -- _-- �`•.......••...� ...E ......., SALE DATE / X9/985 f:> .. / .... PROPERTY DATA SYSTEM SALES RECORD UPDATE CURR 108 --------- - - - - -- Address -------- - - - - -- 4007 1/ SUNNYSIDE RD TYPE SALES IEMARKS •'.ijy.iv. } } }} CASE # 30. City of Edina Board of Review Assessor's CoWin entary Property I.D. Number: 28- 117 -21 -23 -0100 Date: 4/16/98 Property Address: 5233 HOLLYWOOD ROAD Owner /Agent Name: CHERYL A EASTBOURNE Comments*' The home was purchased in August of 1997 for $172,616. It was on the market for approximately three months. An inspection was made April 14, 1998. The new owner has been doing some updating & remodeling since purchase. We will revisit the home for the 1999 Assessment. After meeting with the new owner, they agreed to a reduced estimated market value of $172,600.00 Recommend value reduction to $172,600. is.rlw - Reflection 1 PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID Mkt- Land Mkt -Bldg Mkt- Mach. Mkt -Tot Tx Capacity Hd PT "/.;Orin 1998: 3690V 149100 Pt.Con _HOUSEn FRACTION:`: STREET NAME: UNIT: ZIP +4 Frant: 5233: 1 /_ HOt L'�Wt3C(#I itf2 : 554361 yht : Right: Onnerl: EASTBOURNE... CHERYL. A Orrner3: . 36900 Onner2: 172000 Onner4: R Zoning: R -1 Prirn /sec: Yr. bIt: 1940 Area: LOT 5 Sch.Dst: 273 Nshd: 03 Gr /Os /Ex: SUbrecs: 01 Width: CURR 319 NEXT Mt. Adr: Back: Left: Acres: .00 85 Depth: 141 .. _... 3 µRS•. }:; ii }�u�y�� z #tzttzzz z is.rlw - Reflection 1 PROPERTY ID Es.. .. 9 SALE: -M. .;M1tit}1t}•1 >`,'�' }. ^,tint: 1 % #/.R.R :R`ii��Ci�:i: '~ - PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5233 1/ HOLLYWOOD RD TYPE OF SALE SALES RATIO REMARKS CIIRR 108 NEXT ]�vt'•iili" '"vn� .v �y,� .111 ` �„w1: z a:{.:1.•111x�:11• titii: :,., {;11<;:::....{ 11,r.1��xuv : v.v: 1:vv�x1{{vY•.xvv v vvvRfRRiiii3 1t`1iiltitix` vx;•:1�: :.:21 rst111111: 1t11� . #`:`x`::,.1:`.1 "R11`1 •`.ttt.`�Y'• t::i`:�£t ;tY;2C2:2�::k.:b:: �'?.`S`..`tt�:Ctt: \�: ,,..:.::ttt.:: y� •,1 }:: ;;;:C; }:} :xc1t11::t 1011 \11 \:: :k'Y`2:`iy:�i;R2i xviv v:lxvv }xKV y }, :: `11111 v, \.. •:•tivltitiiir "::v?i1 : }v$,,: :,•.vuvv..,,•.xv 1:vv x:•.:::vn ' {vxx x, ::ri .v ::tvv11tt11i Mkt- Land Mkt -Bldg Mkt- Mach. Mkt -Tot Tx Capacity Hd PT "/.;Orin 1998: 3690V 149100 186000 H R 100 1997: 36900. 143700 180600 H R 100 1996: 36900 135100 172000 H R 100 Leyal Description: LOT 5 BLOCK LIMBACK, HENNEPIN.000NTY, MINNESOTA .. _... 3 µRS•. }:; ii }�u�y�� z #tzttzzz z is.rlw - Reflection 1 PROPERTY ID Es.. .. 9 SALE: -M. .;M1tit}1t}•1 >`,'�' }. ^,tint: 1 % #/.R.R :R`ii��Ci�:i: '~ - PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5233 1/ HOLLYWOOD RD TYPE OF SALE SALES RATIO REMARKS CIIRR 108 NEXT ]�vt'•iili" '"vn� .v �y,� .111 ` �„w1: z a:{.:1.•111x�:11• titii: :,., {;11<;:::....{ 11,r.1��xuv : v.v: 1:vv�x1{{vY•.xvv v vvvRfRRiiii3 1t`1iiltitix` vx;•:1�: :.:21 rst111111: 1t11� . #`:`x`::,.1:`.1 "R11`1 •`.ttt.`�Y'• t::i`:�£t ;tY;2C2:2�::k.:b:: �'?.`S`..`tt�:Ctt: \�: ,,..:.::ttt.:: y� •,1 }:: ;;;:C; }:} :xc1t11::t 1011 \11 \:: :k'Y`2:`iy:�i;R2i xviv v:lxvv }xKV y }, :: `11111 v, \.. •:•tivltitiiir "::v?i1 : }v$,,: :,•.vuvv..,,•.xv 1:vv x:•.:::vn ' {vxx x, ::ri .v ::tvv11tt11i CASE # 3� City of Edina Board of Review ...........v....k }...... Assessors Commentary Property I.D. Number: 06- 116 -21 -23 -0020 Date: 4/20/98 Property Address: 6809 INDIAN HILLS ROAD Owner /Agent Name: BRENT C & JOYCE C FOSSEY Comments: The above applicants returned their application on April 16, 1998. Due to the lateness of this appeal a formal appraisal was not completed by our staff. We recommend the Board sustain the 1998 estimated market value of $209,400 and let the applicants proceed to the next level of appeal. logis.rlw - Reflection 1 .• ?. °a.i:.i`..2 }�. �2 ,t, logis.rIw - Reflection 1 >.Ki #:y::�: :::.:::<: >::: ..... •••:22 > }:: 222:F..ii�22 >S: M11-1 RAC ARKS.. CURR 108 NEXT 1►(i „;•:.;*•,2::22222 >.2;:;; >.: �4r 22::.ki��:2:';22 'i21�142a22. `2. ::,•.:..:::,,v,,, :.,:.:,.,,,;222222:,,,• ;:F ':22'y22222t K; , \,.,•.. :: ",22222222::2222 : ?.x .,.,.,.,,,,,,ittt,•. 222222.,x.; +22. x24:.:}2••2 !vv.:v.:.v..x..:vvv.:vn vx wnvv:vy:.x,: •.• ,v. .v.v:•:... : :vv: :v,? ?222 .2.2.vv t�ii:�i:/�!vx,}; nv� .` vvvivxvvwn,w.v PROPERTY'DATA.SYSTEM TAXPAYER' INOUIRI' CURB 319. PROPERTY ID NEHT -z . Pt; Can:: ,. Mt.Adr:: HOUSE# FRACTION STREET NAME UNIT:::: 2 IPt4: Frond ::. Back: - 6009 .. ......... ........ .._....... - .... ................ ._,..- _.- .:,,,, Ri3 55439 *< Right:, Left: Oranerl: FOSSEY` BRENT C. Oraner3 Owner2: FOSSEY. JOYCE C. Owner4 Zoning: 0 Prim /sec: Yr.blt: 1970 Area:.:'. Acres 00' Sch.Ost::: 273 : :I4shd:: 01 Gr /Os /Ex::> Subrecs:;OT. :Nidth :: Depth: Mkt - Landry Mkt- Bldg - Mkt- Mach :: Mkt -Tot .Tx Capacity Hd PT 1 in 1998:. 50600 158600 209100:; H R 100' .1997: 50800 139000 _ 190600 H: R 100: 1996: 50U00 129100 H: R 100: 'Legal Description: -.:.: LOT- 3 BLOCK" 5 - MCCAHLEY HEIGHTS .3RD ADDITION:. .• ?. °a.i:.i`..2 }�. �2 ,t, logis.rIw - Reflection 1 >.Ki #:y::�: :::.:::<: >::: ..... •••:22 > }:: 222:F..ii�22 >S: M11-1 RAC ARKS.. CURR 108 NEXT 1►(i „;•:.;*•,2::22222 >.2;:;; >.: �4r 22::.ki��:2:';22 'i21�142a22. `2. ::,•.:..:::,,v,,, :.,:.:,.,,,;222222:,,,• ;:F ':22'y22222t K; , \,.,•.. :: ",22222222::2222 : ?.x .,.,.,.,,,,,,ittt,•. 222222.,x.; +22. x24:.:}2••2 !vv.:v.:.v..x..:vvv.:vn vx wnvv:vy:.x,: •.• ,v. .v.v:•:... : :vv: :v,? ?222 .2.2.vv t�ii:�i:/�!vx,}; nv� .` vvvivxvvwn,w.v City of Edina Assessor's Office 4801 West 50th Street 7dina, MN. 55424 -1394 P.I.D. #6r4--f1&—Z1-23-0020 Phone: (612) 826 -0365 Fax: (612) 826 -0390 Date Returned: — t 6 — I Time: 3Q [TDD (Deaf Only): (612) 826 -0379] Received By: rrv,?�t f' a �� Case # Board of Review or office .use: only Residential Application Application Da Attach any supporting documentation Owner Name: ( = fps Owner Address: ao � 12 , d Home Phone Number: t.,x- Business Phone Number: & a- aoJ' Property Address: ! Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: C `/DU ' I believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: Doo /n /99 oov Purchase Date: Total purchase price (land & bldgs.): e>o c> ear Built: House: M7 ! Garage: Additions r ition of Structures (Explain): !(�� ription &value of additions and improvements since your purchase of this property: �,.� .... Professional Appraisals: ch (Please atta a copy af.any recent appraisals. Appraisal Date: Indicated Value: II FF Eznlain:the:reasons for vour:obiection:to the: assessor:s: estimated 1 market: value :: �C oT uJr c o •-� ' .rc�� r. tQ� a.CQf/���t O C / % 7 1/0 c c c v tr•Z fn w�•. it n Ot ver mot' I DO HEREBY AFFIRM TOAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of ap licant: .ETURN THIS APPLICATION THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEW D PRIOR T/OJT� SCHEDULER BOARD OF REVIEW MEETING. �°� aye G r�Gcl i•S c �c•s�r ,� /C/L"r�Src Case # LETTER City of Edina 1 Board of Review Assessor's Commentary Property I.D. Number: 19- 028 -24 -14 -0063 Date: 4/14/98 Property Address: 5641 WOODCREST DRIVE Owner /Agent Name: ANNE MARIE AND BRITT ROGERS Comments: We received a letter from the Rogers on April 9, 1998. We were unable to review the property prior to the Board of Review meeting on the 13th. The Rogers are concerned, and rightfully so, with the potential market affect from last summers flood and sewer back -up. We are also concerned and are monitoring the sales in these affected areas. Of the 50 or so properties that have reported damage and received a disaster credit on their 1998 taxes, two of those properties have subsequently sold. Both were cleaned, disinfected and repairs made. Both properties also sold for prices that exceeded our 1998 values. We will be continuing to monitor these homes and address the individual market value concems of the homeowners. As per letter, the Rogers home was fortunately not damaged due to their efforts. The Rogers are new owners of 5641 Woodcrest Drive. The home was originally listed in October of 1996, for $449,000, but eventually purchased in May of 1997 for'$379,900. The Edina Assessors Office have estimated the 1998 Market Value at $325,000. We would recommend no change. loois.rl w - Reflection 1 ....... ......::::..................... ...1. �2��i2•`.2 2222' v.:v...:•'. :::.•`..:: ;'t`.: }v2a. !2l.4V.�ii is.rlw - Reflection 1 PROPERTY ID 22:k22 :ti ' 2 :222222`•`::•.:•.: :K �:y� �Q� :222' ,PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5641 1/ WOODCREST DR REMARKS F1 CURR IUB NEXT k \ };•j }vitiititi }cyitti; , - v.},}:n __- _ 1.241::::: }; ;vz: ''• :2:1x:•.:•. xx222222x2v` } :^2222: }�v :t \LLt }x`x...xxxxx2222t' 4xxx2xxxx`t `xlkx`xxxx:: ��jj��}} tiiti�C�t•�. \iti viii:: xxxxx:\ y v.ttiAt:v.:w:.vv �' }4::• } }: .... •'xxx2xxxttxixx�xtixxxxxx vM1} }� . ...� Mkt - Land ,PROPERTY'DATA:SYSTEH Mkt -Hach Hkt -Tot Tx Capacity Hd PT '4 :Orrn TAXPAYER INQUIRY' ..... 65000 - CURR 319 PROPERTY ID R 1U0 1997::. NEXT 211800 296800; H R 100 1996'. 85000 211800 296BOU Pt.Con: Ht.Adr: HOUSEW:FRACTION Legal STREET NAME UNIT:: ZIP -1 Front: Back:. 5fi4 i 1 / t10€tD1 ft1 ST .. :: 55424+x' R i ght : Left: Ownerl: ROGERS> : JOHN BOr'mer3: Owner2.. ROGERS<::::,.:- `: _ ANNE HARIE :. Ur'rner4: : 2oning: 0000:::: Prin /sec: Yr.blt: 1967 Area: Acres: .00 Sch.Dst: 273' Wshd: 03 Gr /Os /Ex: Snbrecs: 01 Width: Depth: ....... ......::::..................... ...1. �2��i2•`.2 2222' v.:v...:•'. :::.•`..:: ;'t`.: }v2a. !2l.4V.�ii is.rlw - Reflection 1 PROPERTY ID 22:k22 :ti ' 2 :222222`•`::•.:•.: :K �:y� �Q� :222' ,PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5641 1/ WOODCREST DR REMARKS F1 CURR IUB NEXT k \ };•j }vitiititi }cyitti; , - v.},}:n __- _ 1.241::::: }; ;vz: ''• :2:1x:•.:•. xx222222x2v` } :^2222: }�v :t \LLt }x`x...xxxxx2222t' 4xxx2xxxx`t `xlkx`xxxx:: ��jj��}} tiiti�C�t•�. \iti viii:: xxxxx:\ y v.ttiAt:v.:w:.vv �' }4::• } }: .... •'xxx2xxxttxixx�xtixxxxxx vM1} }� . ...� Mkt - Land Mkt -Bldg Mkt -Hach Hkt -Tot Tx Capacity Hd PT '4 :Orrn 1998: 65000 - 24UUU0 325000 H R 1U0 1997::. 85000'.: 211800 296800; H R 100 1996'. 85000 211800 296BOU 11 R 100 Legal Description :..:. LOT 11 BLOCK 2 COLONIAL GROVE SIXTH ADDITION ....... ......::::..................... ...1. �2��i2•`.2 2222' v.:v...:•'. :::.•`..:: ;'t`.: }v2a. !2l.4V.�ii is.rlw - Reflection 1 PROPERTY ID 22:k22 :ti ' 2 :222222`•`::•.:•.: :K �:y� �Q� :222' ,PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5641 1/ WOODCREST DR REMARKS F1 CURR IUB NEXT k \ };•j }vitiititi }cyitti; , - v.},}:n __- _ 1.241::::: }; ;vz: ''• :2:1x:•.:•. xx222222x2v` } :^2222: }�v :t \LLt }x`x...xxxxx2222t' 4xxx2xxxx`t `xlkx`xxxx:: ��jj��}} tiiti�C�t•�. \iti viii:: xxxxx:\ y v.ttiAt:v.:w:.vv �' }4::• } }: .... •'xxx2xxxttxixx�xtixxxxxx vM1} }� . ...� . Case # LETTER City of Edina 2 Board of Review "INIMEMIMIM Assessor's Commentary Property I.D. Number: 31- 028 -24 -21 -0069 Date: 4/14/98 Property Address: 7016 WEST SHORE DRIVE J Owner /Agent Name: DONALD M GJEVRE Comments: We received a letter from Mr. Gjevve on April 6, 1998, and sent out a Board of Review application on the 7th. On the 9th of April, Mr Gjevre phoned and we had the usual amiable conversation regarding his concerns outlined in his letter. Since 1995, we have inspected Mr Gjevre's property and discussed his value on more than one occasion. We have agreed that his house does need some work (new roof, repair of brick, some interior updating) and have reduced both the 1995, and 1996, assessments by a combined amount of $13,600. The design of the house is fine and the homes backyard is further enhanced by Arneson Acres. I agree with many of Mr. Gjevre's peripheral issues; however I do believe we have made appropriate adjustments for condition. We have agreed to include the letter of protest at the Local Board of Review, so that an appeal can be made to the County Board if so desired. We are recommending no further reduction. is.rl w - Reflection 1 PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID K 11 � - 7P Mkt -Land 1998: 51900 1997: 51900 1996: 51900 Leyaf Description Mkt -Bldg Mkt - Mach' 143400 134100 134100 LOT 7 BLOCK 1 SOUTH GARDEN ESTATES ,t..:logis.rlw- Reflection 1 PROPERTY ID SALE DATE _r_ 'r -r Y/ r � ,/ r CUHR 319 NEXT Mt.Adr: Back: Left: Acres: .00 Depth: Mkt -Tot Tx Capacity 195300 186000 186000 Hd PT X'Own H R 11U H R 100 H R 100 PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 7016 1/ NEST SHORE DR PRICE ......a(J#7 TYPE OF SALE SALES RATIO .. REMARKS CUHR 118 NEXT >� vti •.}}•rxx,xxw.; 4•iLvi :LJ:i.2AV „v.,k «,..:,: .;;;k'.•:..2.' ;.kt;;;;;kt; ,k';;Y•`.:r,:::::i 11 Pt. call HOUSE# FRACTION STREET NAME UNIT ZIP -4 Front: 7011: .> 1 / t1E1 IiOkE ;'Did S5435* Right: Ormerl: GJEVRE DONALD MMOrmer3:. Owner2: GJEVRE CARYN S Owner-4: Zoning. 0008 Prim /sec: Yr.blt: 1950 Area: Sch.Ost :. 273 Nshd: 01 Gr /Qs /Ex :. Subrecs: U1 Width: Mkt -Land 1998: 51900 1997: 51900 1996: 51900 Leyaf Description Mkt -Bldg Mkt - Mach' 143400 134100 134100 LOT 7 BLOCK 1 SOUTH GARDEN ESTATES ,t..:logis.rlw- Reflection 1 PROPERTY ID SALE DATE _r_ 'r -r Y/ r � ,/ r CUHR 319 NEXT Mt.Adr: Back: Left: Acres: .00 Depth: Mkt -Tot Tx Capacity 195300 186000 186000 Hd PT X'Own H R 11U H R 100 H R 100 PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 7016 1/ NEST SHORE DR PRICE ......a(J#7 TYPE OF SALE SALES RATIO .. REMARKS CUHR 118 NEXT >� vti •.}}•rxx,xxw.; 4•iLvi :LJ:i.2AV „v.,k «,..:,: .;;;k'.•:..2.' ;.kt;;;;;kt; ,k';;Y•`.:r,:::::i 11 CASE # LETTER City of Edina 3 Board of Review ~Assessor's Commentary Property I.D. Number: 08- 116 -21 -14 -0001 Date: 4/16/98 Property Address: 7215 CAHILL ROAD Owner /Agent Name: GABBERTS, INC. Comments: The Taxpayer submitted a letter for Board of Review consideration which was received on Tuesday, April 14, 1998. This subject property is a large warehouse with office mezzanine with a gross building area of 160,389 square feet. It has been reviewed in previous years and consideration has been given in the past for deferred maintenance, primarily for roof repair and replacement. Estimates submitted to this office in previous years for that roof repair and replacement have been in the range of $750,000. An appraisal from June 1995, the approximate date that the roof reportedly needed repair and replacement, makes no mention of deferred maintenance. In the past year, market evidence has shown that the value of property like this has increased greatly. Without an in depth evaluation of the property, even if we give consideration for the roof condition, I believe that the estimated market value is not excessive. I recommend no change. is.rl w - Reflection 1 -PROPERTY 'DATA SYSTEH . TAXPAYER INQUIRY_ PROPERTY ID` CURR:319 NEXT Km }{ }�� ? >$y; i }M'i:} }:µii} i �M1`:i`i`Y•: }vi :iv:v..... n....n .v i}`.•......v.........vx n... iii {{ : {:: {: {:v:w:vw :•:v ;'{:a::S::i"£:C{ +iii' ` y}v.,.,} :;tY,.,n t� }v \•'^i{iivL ...:i.:'::::: {{: nisi: ?:{• "" v::::: vv: m ...... vxvtnt !.:.: ntwnvvtvttvvvvx 4`:logis.rlw- Reflection 1 PROPERTY 'ID SALE:: PROPERTY DATA SYSTEH SALES RECORD UPDATE CURR =108 Address --------------- 7215 1/ CAHILL:.RD.. TYPE SALES DATE PRICE OF SALE: RATIO REMARKS mum. ..: •vt•vvvm:::•.:v: •vv.nw:: :v:.xvvv vv.'. >.iiri�LL "`v {i•} • }:w :• ••:::• } yy�� •.:•.tk. ttL {.t;. };.::t }tt ;;.•. } >•.; : {�Y•`..; •':•n'tt ?: ?::::'ti•. >t •.} 2.22;`. ? mix:. y};. .titiivti2iiii• >. ?iiiLitiiiiv 22{v. K }2} u tv2v 22k::`t: tt..t:22 :: {t.::::. �2.2.�2,`2rY:2•" tw\ ti ��\.• � �Sc;k't '2a.:.tt•::::•: K ttt�`22t :2h{2222v22222.tv.u: .t:" t: :tt.:.:::: •••:•:•. y�yF 222`i v : ::..:•.t ttttt• .:: : .:. .tt2 •.. 22�:;: .....k. '".:22` }.' :.. \:: K::: r Pt.Con: Ht.Adr: HOUSEu FRACTION STREET NAHE: UNIT'" ZIP +1 Front: Back: . f AIEIf C <:RB 55439+' <> Right: Left: Oranerl: JAHES: D .-GABBERT Oraner3:. 0raner2: _. Oraner4: Zoning: Pri III /sec: Yr. bIt: 0000,:; Area: :. Acres Sch.Ost ' °:273 Wshd: 01 Grr /Os /Ex: Subrecs: :01 Width:" Depth::. Mkt -Land Mkt - Bldg <:; Mkt- Mach:: < - Hkt -Tote Tx Capacity.. Hd:.PT:: Dam, 1998: 615300: ::: 4675500 5290800 ;1997:: 615000: 2785000.'` 3400000':. I 0 1996: 615000: 26850001 3300000 : II 0 Legal Description: __= NO LOT AND BLOCK GIVEN UNPLATTED 08 1lfi 21 N 420 FT OF THAT PART OF SE 1/4 OF NE 1/4 LYING W OF::.R.R R/W EX ROAD Km }{ }�� ? >$y; i }M'i:} }:µii} i �M1`:i`i`Y•: }vi :iv:v..... n....n .v i}`.•......v.........vx n... iii {{ : {:: {: {:v:w:vw :•:v ;'{:a::S::i"£:C{ +iii' ` y}v.,.,} :;tY,.,n t� }v \•'^i{iivL ...:i.:'::::: {{: nisi: ?:{• "" v::::: vv: m ...... vxvtnt !.:.: ntwnvvtvttvvvvx 4`:logis.rlw- Reflection 1 PROPERTY 'ID SALE:: PROPERTY DATA SYSTEH SALES RECORD UPDATE CURR =108 Address --------------- 7215 1/ CAHILL:.RD.. TYPE SALES DATE PRICE OF SALE: RATIO REMARKS mum. ..: •vt•vvvm:::•.:v: •vv.nw:: :v:.xvvv vv.'. >.iiri�LL "`v {i•} • }:w :• ••:::• } yy�� •.:•.tk. ttL {.t;. };.::t }tt ;;.•. } >•.; : {�Y•`..; •':•n'tt ?: ?::::'ti•. >t •.} 2.22;`. ? mix:. y};. .titiivti2iiii• >. ?iiiLitiiiiv 22{v. K }2} u tv2v 22k::`t: tt..t:22 :: {t.::::. �2.2.�2,`2rY:2•" tw\ ti ��\.• � �Sc;k't '2a.:.tt•::::•: K ttt�`22t :2h{2222v22222.tv.u: .t:" t: :tt.:.:::: •••:•:•. y�yF 222`i v : ::..:•.t ttttt• .:: : .:. .tt2 •.. 22�:;: .....k. '".:22` }.' :.. \:: K::: NZ21 City of Edina Board of Review Mr. Rick Petersburg, Assessor 4801 West 50`h Street Edina, Mn. 55424 Dear Sirs, April 14, 1998 This letter is in regards to the property valuation of the property located at 7215 Cahill Road Edina, Mn. (Property id # 08- 116- 21 -14- 0001). The property is an industrial warehouse leased by Gabberts Inc. from James Gabbert. It is our belief that the 1998 property value of $5,290,800 is excessive. We believe the true value is approximately $3,527,000. Our belief is based upon an appraisal completed in 1995, indicating a value of $4,000,000 less deferred maintenance totaling approximately 750,000. Inflation adjusted, this brings the value to $3,527,000. The deferred maintenance is to install a new roof on the building. The appraisal did not recognize the deferred maintenance problem. I realize this letter is late in the process, however we have been in contact for the last two weeks with Mr. Sankey from your office. I am requesting that the Board review the valuation and preserve our rights to the County Board of Review. I appreciate your attention to this matter. Please contact me at 828 -8597 with any questions. I look forward to hearing from you. Sincerely, i Gary Pedersen Executive Vice President, Gabberts Inc. GABBERTS FURNITURE & DESIGN STUDIO • 3501 GALLERIA . MINNEAPOLIS MN, 55435 • (612) 927 -1500 * '% April 17, 1998 Rick Petersberg City of Edina Edina, MN 55424 Dear Mr. Petersburg Attached you will find a copy of an appraisal dated March 21, 1998, showing an estimated market value of $500,000, for our home at 4619 Wooddale Ave., Edina. Also attached please find the "Value Notice" showing a value for 1998 of $510,700. I am asking for relief on the current valuation based on the discrepancy shown. Thank you. Sincerely, CO— " aU Cal ons FROM: CITY OF EDINA FIRST CLASS MAIL U.S. POSTAGE PAID ASSESSOR'S OFFICE MINNEAPOLIS, MN .1 PERMIT NO. 2282 4801 DEBT 501N 91 VALUE NOTICE EDINA RR 55424 -1399 PHONE: 612 826-0366 TDD: 612 - 826 -0379 JANUARY 2, 1998 PROPERTY ID: 18-02824 -24 -0009 CLASSIFICATION: RESIDENTIAL PROPERTY ADDRESS: 4619 ROODDALE AVE HORESTEAD PROPERTY VALUE FOR 1998 PAYABLE _Y 1999 ESTIMATED MA1tKET VALUE ' ` '' • ` `. $ 5100700 LIMITED MARKET VALUE: $ 510,700 QUALIFYING IMPROVEMENT VALUE: $ MARKET VALUE SUBJECT TO TAXATION: $ 510,700 THIS NOTICE CONTAINS YOUR 1998 CLASSIFICATION AND VALUATION FOR TAXIS PAYABLE IN 1999. IF YOU BELIEVE THE RARKET VALUE OR CLASSIFICATION OF THIS PROPERTY HAS BEEN BETERMNED INCORRECTLY, YOU HRUE THE RIGHT TO RAKE AN APPEAL. PLEASE CONTACT THE EDINA ASSESSOR'S OFFICE 1612-526-0365) AS SOON AS POSSIBLE TO REVIER ANY DATA SUPPORTING YOUR POSITION. THE CITY OF EDINA BOARD OF REVIER IS SCHEDULED TO MEET, RONDRY APRIL 13, 1998, AT 5:00 PN IN THE CITY HALL COUNCIL CHANGERS. APPLICATIONS TO APPEAR BEFORE THE BOARD RUST BE RECEIVED NO LATER THIN, APRIL 6,1998. TO: CALVIN H SINRONS SANDRA L SIRRONS 4619 HOODDALE RUE EDINA RN 55429 Property Value Analysis Report Freddie Mae Form 704 804026 Semw« Simmons. Calvin and Sandra CuawT,oct 5120 -236 t1.plw«.rw A2 -120 Property -abse. 4619 Wooddale Avenue ■PROPERTY RIGHTS APPRAISED MUST BE FEE SIMPLE FOR THIS FORM atrEdina couary Hennepin state MN 2pced. 55424 Cl--- ®sF OPW ❑coxes Pluwexe.11es 612/915 -8432 Loarikeir lHowsteds N/A T«m N/A Mes. Oamses li,nai-aw.. N/A No..1 Rmme mo. of emimmes NO of .,he Family Room «Den Gros- Lump Mes Garage /C.IPM Perches�io nner An 10 ( Specily type anal rro.l Po«( .. are 084 s Ft. 2 Car Garage Deck NEIGHBORHOOD Analysis PROPERTY RATING Good C«rditim of Exl.nor ❑ Avg Fee © ❑ Poor Design (ambler, split level. ail.) 2.5 Story Comparable No. i 5011 Wooddale Ave. Locat ion ❑ Urban O Suburban ❑ Rural ❑ Exterior Wtll Met.dal Brick IbolWlerlal Slate Edina Appealand Marketability ® ❑ ❑ ❑ awl Up ®Or« 75% ❑ 25% to 75% ❑ Edina NEIGHBORHOOD RATING Good Avg Fa; Poor Growth Rote O FuUy Oar. Under 25% O Relied ❑ ❑ t N/A Properly Comwhtubty bath 2. ;S 520,000 story home. It is typical in design age quality and size for the n.ieh},nnhnn.i Properly Values Study Stow © O D.srn hoar ' Ad'.I —t Gemnol Appowme, of Properties X ❑ ❑ ❑ ❑ SltOV" Wassong Stable ❑ oadming Irreg./Creek ' -10000 Appeal to Markel ® ❑ ❑ ❑ 01- WSUPPIY Shodgage ® 1. Balm. ❑ over Supply Condition Good Cond. Good Cond. -0- Good Cond. -0- Good Cond. -0- Living Area Rm. Count roml Marketing Time Goer S Mm. O Ii Mes. ❑ over. b uer. Total ; B -,ms ' Baths Total B -Time ' Both. and 8 4 2. ;-2,000 Present Land His. __Y3 i 1 Family q i 2-1 Family IS Apt. O i Cmdo ® 10 i CAmmertlal 2 i industrial 084 s FI. i Vaunt 2,958 S Ft :+2.500 i Om« Change In Present Land Use Not Likely ❑ Likely ❑ Taking Place Fram Central Air -0- Central Air -0- Central Air -0- c. ./ca 2 Car Cara e Predominant occupancy ®Own« ienanl 1 iVacanl ❑ to Patches. Pattie. Dk,Pto,Whpl Dk,Pto ;+19500 Dk,Pto,Whpl -0- S1.2le Family Pd. Range ! 225.000 tos 800.000 Pmdm%mamVahm! 400.000 2F lc S rink -0- 2F lc S rink -0- 2F lc S rink -0- sp.wEnergy Singh family Age �. y.. to 95 ym. Predominant Age y„. Avg. Insul. -0- Efficient Il.ma Dwelling Dwellin -0- Note: Freddie Mae does noI c ... Ider race or the racial composIUM of the neighborhood to be reliable appraisal factors. Dwelling -0- Other Bsmnt=l RmFin Unfinished ' +2 000 Comments including these lecim-, lerauble «unfavorable, affecting m«kstalidily (e.g. public parks, schools..nw, noise) Financing (Cony.. FHA VA X Pm. Nine.' 11,200 Plus Minus' 00 readily avail. in the suhipet APP. 1 - 1 r..n. 6— --- A---- __ a raisal is being for discussion 506,200 made "as is" This etc' ) is SUBJECT PROPERTY Appeal. Va. Dint) Ig 36 Type (detached. attached, somwel. ow) Detached Single Family Analysis PROPERTY RATING Good C«rditim of Exl.nor ❑ Avg Fee © ❑ Poor Design (ambler, split level. ail.) 2.5 Story Comparable No. i 5011 Wooddale Ave. C«oWlibeily to xeighlmrAood Comparable No. 3 ❑ Exterior Wtll Met.dal Brick IbolWlerlal Slate Edina Appealand Marketability ® ❑ ❑ ❑ Is The properly located In a FEMA Special Flood Hazard Area} yea r,o Edina Edina Pra.imi "as.b °' Z"'Eaergr- Effici- nTilams The subiect is a well kept updated dwelling Typical insulation for it's age and quality. No special items noted Approx. 1/4 Mile NW. S.W. Price t N/A Cammesls(larouer-or unlarorabm including any dat «cad matnleesnc.I The subject is a lit five bedroom bath 2. ;S 520,000 story home. It is typical in design age quality and size for the n.ieh},nnhnn.i T+1 11--- Market Comparable Analysis Item Address Sub ect Property 4619 Wooddale Comparable No. i 5011 Wooddale Ave. Com arable No. 2 4910 Bruce Avenue. Comparable No. 3 Edina Edina 4907 Sunnyside Road Edina Edina Pra.imi "as.b °' A rox. 1 Block Approx. 2 Blocks Approx. 1/4 Mile NW. S.W. Price t N/A ' t 495,000 :S 14 00 ;S 520,000 Oal-a Sam and Time Adjustment D..ai lion N/A Doc lion Ad'ramenl Clsd 10/ -0- oeacn lim Ad ramest Clsd 1 1 / D.srn hoar ' Ad'.I —t Location Suburban /Good E ual Neigh. -0- -0- E ual Neigh. -0- Clsd 6/ -0- Eqgpl Neigh. -0- SltOV" 0x1 2 /Res. Irreg./Creek ' -10000 100x1 8 /Res. ' -10000 x160 /Creek ' -10000 Age 62 Years 57 Years -0- 61 Years -0- 52 Years -0- Condition Good Cond. Good Cond. -0- Good Cond. -0- Good Cond. -0- Living Area Rm. Count roml Total Berm. ' Bathe 10 Total ; B -Tim ' Baths Total ; B -,ms ' Baths Total B -Time ' Both. and 8 4 2. ;-2,000 4 -0- 4 Grass Lirin Area 084 s FI. 2,301 01 S .Ft. ; +1 00 2,958 S Ft :+2.500 0 S Fl :-8,900 Air Cond +lion+ Central Air Central Air -0- Central Air -0- Central Air -0- c. ./ca 2 Car Cara e 2 Car Cera a -0- 2 Car Garet a -0- Car Garage :-2,000 Patches. Pattie. Dk,Pto,Whpl Dk,Pto ;+19500 Dk,Pto,Whpl -0- Screen Porch -0- Pools, etc. 2F lc S rink 2F lc S rink -0- 2F lc S rink -0- 2F lc S rink -0- sp.wEnergy Avg. Insul. Avg. Insul. -0- Avg. Insul. -0- Avg. Insul. -0- Efficient Il.ma Dwelling Dwellin -0- Dwelling -0- Dwelling -0- Other Bsmnt=l RmFin Unfinished ' +2 000 Bsmnt =2 RmFin ' -2 000 Bsmnt =2 RmFin x.ue .t rYtal eo X Pm. Nine.' 11,200 Plus Minus' 00 Plas urn..' s 22,900 Subject Gen.nH Comment. This attached comments a raisal is being for discussion 506,200 made "as is" This t 0 000 is a "Summary Appraisal 497,100 Report" See of all other sales com arison ad ustmeants. The Information shown 10 this report is derived from An Inspection of the neighborhood and exterior Inspection of the sub)ecl properly and market comparable. The estimated Merkel value Is baud upon this Information and The knowlege of the undersigned. This "poll Is not construed as an ahpniesl report. *PROPERTY RIGHTS APPRAISED MUST BE FEE SIMPLE FOR THIS FORM Esbmared Narbt Value t 500.000 ...1 March 21, to 288 Cemphledey, GM,1?* or y V 2a la pr Title Appraiser Signal«. 6 c��c� wm March 21. ,a cLg State Certification U: (/4002346, State: MN ATTACH CURRENT DESCRIPTIVE PHOTOGRAPHS OF SUBJECT PROPERTY AND STREET SCENE Forsythe Appraisals, Inc. APR . 2 0 19% N4 J- dAL,,e- Apri120, 1998 3 15 PrM City Council _ City of Edina -4801 West 50th. St. Edina, MN 55424 To the City Council: We have been homeowners at 5824 West 68th Street since November 1987. During this time we have had consistent tax increases from approximately $2400.00 per year to our current tax- of $4029.06 for 1998. We recently had a real estate market study done on our home to determine an appropriate sales value. On reviewing comparable homes in the area to establish this value, we were surprised to see that most homes with higher market value and without traffic devaluation were taxed at lower rates. We were advised by our real estate agent that our property would never hold the same value on a two story colonial home as other structures with similar, square footage. The reason for. this can be attributed to the extremely_ ,high volume of traffic that our home is exposed to at- all hours of the day. Our home is located at the intersection of Valley View and Antrim across_ from the Edina High School and Valley View Middle School. We have been advised ,by a source from the City. of Edina that a recent study showed that this intersection -is crossed'by approximately 3,500 cars per day. A number of years ago we did_ put our house on the market for sale. A -; number of potential. buyers refused to ' even come into the home to view it. As a matter of fact, the great majority of these buyers would not even leave their car. because of the openness of our .property to this- intersection. Over the = years, since this through street was converted to a cul -du -sac, the city has done virtually nothing to make it --more aesthetically pleasing to the streets residents. It is often re €erred to as the "cul -du -sac of signs We are appealing to the City of Edina for two `specific options in assisting our" family with young children, .to either, reduce outtakes to a fair and equitable r � !'1 •4 e• -Y. 2l r. i_�h1f .t .. <d � �w ^i'�*Md %c'.'_ .1 - _ .. - . ... April 17, 1998 City of Edina Assessor's Office 4801 West 50th Street Edina, MN 55424 -1394 Attn: Moreau Sankey Re: 6936 Langford Drive Property IN 31- 117 -21 -32 -0085 7-2 Dear Mr. Sankey: We previously discussed the market value of my home located at the above address. I wrote you on February 27, 1998 and protested the valuation of $95;300. - 7.'�" I have enclosed a listing sheet for the property located at 6946 Langford Drive. The property was sold recently for $92,000. It appears that this unit is almost identical to mine, with the exception that it has a whirlpool bath in the owner's bedroom, which I do not have. 0 Please reconsider your appraisal of $95,300 for my property, in view of the recent sale of this co rable property. Hilftn iner - 6936 Langford Drive Edina, MN 55436 (612) 546 -5054 (work) enclosure HSW /rwg 13 -APR -1998 20:18:23 ___ _______________________________ #1 CONDO /TOWNHOUSE - PROPERTY TYPE 2 CT <.<< L -$ 92,900 S -$ 92,000 SOLD >>>' BR : 2 TBA: 2 FBT: 2 TBT: HBT: QBT: STY: MANOR /V TRM: FHA,VA,CON,ASM MT : 30 OMD: 04/10/96 FIN: 4 6946 LANGFORD DR 8 TAX $ 1,151/96/F MAP C4 -119 MUN EDINA ZIP 55346 TWA $ AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N CPX MANOR HOMES OF EDINA HS FOR 1996/ F YBL 1988 -N DIR 169 TO LONDONDERRY E & S TO LANGFORD DR # 1175342 LOCATION! LOCATION! ONE LEVEL LIVING CLOSE TO BRAEMAR, FREE- WAYS AND MORE. 2 BEDROOM 2 BATH WITH WHIRLPOOL BATH IN OWNERS BEDROOM. INFORMAL AND FORMAL DINING. LAUNDRY IN UNIT. HURRY!! LGL CONDO #0294 UNIT 8 MANOR HMS LOT COMMON FEE 122 REF,RNG,DWS,DSP,F /H FEI SA,SL,OM,HI,WS PET WH BUS,D /P,WHP,TC PID 3111721320099 FPL 1,L AIR C BAL,WDH,PLA,RNT,ILE L APROX L APROX HEA FA /GAS TRM FHA,VA,CON,ASM LR U 13X15 B1 U 11X15 EXT HEM MTG 69,972 INT .000% DR U 10X 9 B2 U 10X10 PRK 1,G,A,Y EXF FHA,ARG OD 4/95 ASM Q KT U 10X 9 X BSM N PIN $ MC2 MA2 ID U 10X 7 X BET N MET Y APF FHA,VA SDP: 270 SDP 988 -4000 FSZ 1,100 AGF 1,100 BGF FSF 1,100 EDINA REALTY, INC 5113 BC 3.15 SA 3.15 NA WES PARHAM 476- 5382/933 -6700 ER N PHN 612 -475 -2411 INFO. DEEMED RELIABLE BUT NOT GUARANTEED APT 612 - 475 -2411 COPYRIGHT 1998 REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. mn FID "� 3111721320099 PROPER,; TYPE: FE: CCNDOidINIUti TAX YEAR: 199 ------------------------------------- Property Information ------------------- ----------------------------------- ADDRESS 6946 LANGFORD DR ZIP: 55436 -1657 CITY /TWN EDINA MAIL CITY EDINA SCHOOL DIS HOPKINS ELK: ADDITION CONDO NO 0294 MANOR HOMES OF EDINA LOT: LEGAL DESC LIVING UNIT NO 8 AND ATTACHED GARAGE UNIT ACRES IN BUILDINOG NO PARCEL SZ IRREGULAR Jf YEAR BUILT \I ----------------------- - - - - -- - -1-� ------ - - - - -- - - -�rP- -- - - - - -- Owner /Taxpayer Information U1� �'•- -- ----- ----------------------------- - -- ----------- t--- - - - - -- - - OWNER NAME LARSON ORVILLE H 1, i 3T OWNER CHEEVER LOIS TAXPAYER v ADDRESS 6946 LANGFORD DR U EDINA MN 55436- i r Market Values ; Taxes Effective 1997 , Subrecord Va --------------------------- - - -- ------------------- LAND 8,000 ; BASE TAX : 1,181.79 , WATERSHED: NINE MILE CREEK BLDG 76,400 TAX W /ASSMT: 1,197.84 ; DELINQUENT: CURRENT TOTAL: 84,400 ; ; GREEN ACRES/OPEN SPACES i0 --------------------------------------- ------------------ �f --------------- - -- Sales --------------------------------- PREVIOUS D�E - -- 07/30/96 - - -- RECENT DATE : 03/13/98 PREVIOUS PLAICE: 92,000 RECENT PRICE: 92,000 PREVIOUS 'ODE CONTRACT FOR D* RECENT CODE : WARRANTY DEED _ - -_- Dwelling Characteristics Gross Sg Ft Bldg Style y Stories �f First Flr SF Bldg Shape Secnd Flr SF Bldg Cond N/A Year Built Bldg Constr N/A Bedrooms Roof Type /Cover: N/A / N/A "I Baths Ext Wall N/A / Family /Livg Rm: / Gar Cap /Type /Sf: / Dine /Otter Rm / Deck/Patio Sf / Kitchen Porch 0 /S /G Sf Fireplaces Pool /Pool Sf / Lot Width /Depth: 0/ 0 Heat Lot Zoning >>> ROOM SCHEDULE <<< Bmst 1st 2nd 3rd Bedrooms Baths -Full Baths -3/4 Baths -1/2 Family Rm NA NA Living Rm NA Kitchen NA Other Rm Fireplace Use Breakdown Property Type Homestead Agri Ind. Exempt Subrecord 1 CONDOMINIUM HOMESTEAD Subrecord 2 Subrecord 3 Subrecord 4 INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. HC 586 (2/84) CERTIFICATION OF POSTING OF ASSESSMENT NOTICE State of Minnesota COUNTY OF Hennepin ss, City OF Edina 1, Debra Mangen , Clerk of the city of Edina in said County for the year 19 98 , do hereby certify that on the 3rd day of April , 1998 , in conformity with requirements of law; I posted notices in each of three of the most public places in said C i ty ten days before the time of meeting therein named, and also caused such notice to be published in a legal newspaper, of which the following is a true copy, to -wit: `Posted by Ed i na Pol i ce ASSESSMENT NOTICE NOTICE IS HEREBY GIVEN, That the Board of Review of the C i t y of E d i n a in Hennepin County, Mmnesota, will meet at the office of the City Clerk in said C i t , at 5:00 o'clock . M., on Monday , the 13th day of Apri l , 19 98 for the purpose of reviewing and correcting the assessment of said City of Edina for the year 1998 . All persons considering themselves aggrieved by said assessment, or who wish to complain that the property of another is assess- ed too low, are hereby notified to appear at said meeting and show cause for having such assessment corrected. No complaint that another person is assessed too low will be acted upon until the person so assessed, or his agent, shall have been notified of such complaint. Dated the 3rd day of April 19 98 ( Clerk of the City of Edina / Given under my hand this day of lf �! Clerk State of Minnesota, w A WTAM Pu9u0.1NErt0�tA COUNTY OF HENNEPIN as. � 11 00lARY `� � My Conaabstan Explras�. „.1000 City of Edina We, the undersigned, Board of Review of the City of Edina in said County, do hereby certify that we, and each of us, attended at the office of the C i t y Clerk of said City of Edina on the day set forth in the notice given by the Clerk of said City of Edina , and that we then and there remained in session the whole of said day as a Board of Review. Witness our hands this NOTICE TO ASSESSOR Assessor must make the necessary footings at bottom of each page and carry them forward to the "Tabular Statement" form, and in so doing use all possible care. Minnesota Statutes, Section 274.04. The assessor shall foot each column in his assessment book, and make in each book, under proper headings, a tabular statement shouting the footings of the several columns upon each page. He shall also foot the total amounts of the several columns under the respective headings. ' ' ` Such return shall be verified by his affidavit substantially in the following form: ASSESSOR'S RETURN OATH To Be Signed By County Assessor To Auditor of the County of , Minnesota. State of Minnesota SS. County of I, , County Assessor Of the County of do solemnly swear that the book to which this is attached contains a correct and full list of all Real and Personal Property subject to assessment and taxation in the of for the year 19 , so far as I have been able to ascertain the same, and that the market value, except as limited by statute, and the assessed value, except as limited by statute, set down in the property column, opposite the several kinds and descriptions of property, is in each case the market value, except as limited by statute, and assessed value, except as limited by statute, of such property, to the best of my knowledge and belief, including all changes made by the Board of Review, and that the footings of the several columns in said book and the tabular statements returned herewith are correct, as 1 verily believe. Subscribed and sworn to before me this day of Auditor of ---�T i -ATION OF NOTICE ON INCREASED VALUATIONS Stto �±�u� :•w�-n ;� at���nesota County of - .V •,• w+ SS. Of County Assessor ,19 County 1, County Assessor of County, Minnesota, do solemnly swear that the owner or occupant of each description of real properly which was subjected to an increase in market value over the preceding year's assessment was given official notice of the amount of such increases. I further certify that all such notices were sent through the course of ordinary mail not less than ten days prior to the Of Maui Dal YW duly convened or on ten days prior to the official adjournment thereof. Mona Dal Ym Date Signature: on which Board of Review CITY OF EDINA 1998 BOARD OF REVIEW 12 Donald H. Hansen 6737 Apache Rd 06- 116 -21 -32 -0071 13 Dorothy Rusan Application Withdrawn 31- 028 -24 -13 -0002 14 Michael & Allison Pelach 1 Gary Phillips 7350 York Ave S 32- 028 -24 -24 -0361 :u 2 Dennis Walsh 5012 Schaefer Rd 30- 117 -21-42 -0021 E 3 Irving & Charlotte Nudell 4015 Lynn Ave 07- 028 -24 -13 -0040 18 4 Richard L. Johnson Application Withdrawn 31- 117 -21 -23 -0062 Jacqueline Mithun 5 Peter & Georgine Johnson 4309 42nd St W 07- 028 -24-42 -0042• 6 Frank & Janet Lederle • 4507 Browndale Ave 18- 028 -24 -21 -0037 c 7 Kit & Sumondra Arom 5200 Schaefer Rd 30- 117 -21-43 -0063 8 Janet Leary Application Withdrawn 07 -028 -24-43 -0110 9 Gage D. & Lisa O. Walker Application Withdrawn 08- 116 -21- 34-0095 10 John Carlson 5509 Merritt Circle 32- 117 -21 -12 -0047 11 Prakash Puram 6627 Limerick Dr 05- 116 -21-41 -0066 12 Donald H. Hansen 6737 Apache Rd 06- 116 -21 -32 -0071 13 Dorothy Rusan Application Withdrawn 31- 028 -24 -13 -0002 14 Michael & Allison Pelach 4833 Tower Rd 18- 028 -24 -14 -0056 15 James S. & Cynthia A. Erdall Application Withdrawn 20 -028 -24-34 -0057 16 Harry Lindberry 6901 Maloney Ave 30- 117 -21 -23 -0002 ... 17 Mary A. Oelke Application Withdrawn 31- 117 -21 -23 -0032 18 Jack S. & Faith E. Jaycox Application Withdrawn 18- 028 -24-42 -0087 19 Jacqueline Mithun 5308 Halifax Ave 18- 028 -24-44 -0067 D 20 Jane Z. Weiss Application Withdrawn 31- 117- 21- 23 -UU1U 21 Theodor Herman 6720 Samuel Rd 06- 116 -21 -32 -0047 p 6 -21 -33 -0142 5-1- b2s It 15-1, Irir�7C„u, — 0 .�� n ► �a- (stn a,�c- � � rux -�k: .rt.a 6641 �. vocx� cacQ , a:;t. tq - o Za -za - l�- ca l, z) a-aJZa Vim. C�� � ZotL, k a S . uL . ?►- ��� -z-1 - 2.1 -cccq Page 1 of 1 1 2 3 4 1 2 3 4 City of Edina 1998 Board of Review Applications received after April 6th and Letters to be read into the minutes. Additional Applications Name Address PID # EMV Marie Hidem & Michael Mankey 4007 Sunnyside Rd 07- 028 -24-44 -0050 151300 Letters Name Address PID # EMV Anne Marie & Britt Rogers 5641 Woodcrest Dr 19- 028 -24 -14 -0063 325000 Donald M. Gjevre 7016 West Shore Dr 31- 028 -24 -21 -0009 195300 WatK "— CU C1,1ev vJt ��S'��,Jeu� u� sz Page 1 of 1 memorandum Date: 04/10/98 To: Edina Board of Review Members From: Rick Petersburg, SAMA RE: Board of Review Meeting- April 13, 1998 - 5:00 p.m. -Council Chambers This packet of information includes: • The complete list of Board applicants #1 through #28 Applied by 4:30 p.m. April 6, 1998. Of those 28 applications ten (10) have withdrawn. • Individual assessor's commentaries with recommendations for each case along with a photocopy of their application, history screen, and supporting evidence. • The Board case worksheet. Note: Any additional applications will be presented to the Board members on April 13'. Case number 23 and number 26 contain NON - PUBLIC DATA. 04/01/98 r4 Case # s City of Edina Board of Review Assessor' s4Commentary ::<:............._.. Property I.D. Number: 07- 028 -24 -42 -0042 Date: 4/13/98 Property Address: 4309 WEST 42ND STREET Owner /Agent Name: PETER JOHNSON JR AND GEORGINE JOHNSON Comments: The home at 4309 42nd is a 1 1/4 story house in normal to fair condition. Over the years the Johnson's have. been concerned about tax increases and the condition of the property. The comparable sales attached are the most similar to the subject in terms of style and size, comparabel # 1 is the most comparable. A sale at 4313 42nd St W. (next door) sold 2 years ago at $152,000, it is a 4 bedroom, 2 bath home. _ loqis.rl w - Reflection 1 jF1 MUM --------------- ------------------- .......... - -------------------------- ............. .. . ...... . ... loois.rl w - Rellection I ..PROPERTY DATA SYSTEH, PROPERTY ID 7-ATIMM-UMM .... .. pt.Eon: Ht.Adr: :HOUSE4 FRACTION ::STREET NAHE UNIT ZIP-1 Front; Back: "42nD 55416+ Right: 0111jer I: JOHNSON ip PETER ... owner3; ffimei-2: JOHNSON ::.GEORGINE . 2on i 11g: : .:,0000 P1 i Fil/sec: �.:.1::Yr. b I t �:I 939 Area: <Acres DO Sch.Dst: 7�17273:�::44shd: .03 :01 Width: , ....... � Mkt.Land Mkt -Bldg ::�:Hkt-Mach :::Hkt-Tot Tx�:Capacity ' :Hd PT:: X 01 .1998: 0 2 1 U0 -:13190u 1997: .:29800 94700 ::?:.124500 H :R. ;100. 1996: :29800 92300 122100 :H R :.100 Legal Description LOT ":BLOCK 2 "CROCKER Fir CROWELL'S FTRST:ADDITIDN" ob--, :'W 1&3,DF:LDTS I AND 2 EX ST .. . ....... --------------- ------------------- .......... - -------------------------- ............. .. . ...... . ... loois.rl w - Rellection I City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application P.I.D. # I Date Returned: Time: Received By: Case #,S ............ e cff'ice uss. o l Application Date: �/� 9� Attach any supporting documentation Owner Name: E"Tr R dOflil/So/✓ !� yL 6 F_d 7PG I A/ F— o HAlse Al -d �7 Cvyner Address: %e� e W A 'v � p� E Home Phone Number: �IA 9,n-,-11.1 !:Business Phone Number: Property Address: yje 2 y �TiPEtT Assessor's estimated market value for January 2, 1998: �y Land: Buildings: Total: l J1 9 4 D I believe the estimated market value on January 2, 1998 should be: '"7LE,9 SE, /997- /59� Land: Buildings: Total: Purchase Date: 3 ,� Total purchase price (land & bidgs.): Year Built: House: /9J Garage: IFS Additions (Explain): e V / r Condition of Structures (Explainrl-p sE--P Description & value of additions and improvements since your purchase of this property: Al oV F -TENTS ^q J� E 06 o E A e, E C 4 SE-D -S'% L54 — ................. . �(CA: VAT:a f i cat:: i afs� ` .e::a . ach :c : n : e ent ras : ... „ �.. . Pro ess o Apra .. (. as. . tta a . op .a . a y r c app } _ /F�' '4 of -?,ME Sc7r ink Appraisal Date: g /888 0 Indicated Value: �O ocd•do 0-oNT'n1uE D y bjection.ta 1Me: assessor ' .s:estirdated::market:�ratue:: Explain::the reasons for . our:o 46EI-w s AIA o Ce 417r F- /A✓a 0 W R '% O S Ea"F N E 9L ET A L l- o u R s.4 Ae 2X1nAr,F -Id-aale it J?A d- is 'LL A '/vG Ile E 41 E.,T'� T T O4 /-.=- , S E #6 .4 d-,E 0 Al /99y GES Q T L I'S - 7 Ems / V F-D No A/4 ,w _ 4 , I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. 14916 %� Signature of a li 9L Ir RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. Xf,01t 15RL IPAPF_RS COC./L� i►/OT ZE fdGIN.D LRoerr �E� /Nq %e�/aLT�/�1� % oFf/ eE City of Edina Board of Review Address 4309 42nd St PID # 07- 028 -24 -42 -0042 Case # 5 Assessing Dept. Page 1 4/6/98 Sales Comparison Adjustment Grid ............. ............. ............. I................... Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 4309 42nd St 07- 028 - 24-42 -0042 4002 Sunnyside 07- 028 -24- 440045 4014 Monterey 07- 028 -24-43 -0077 4217 Grimes 07 -028 -24-41 -0121 Sale Date Sep-97 Jun -97 Sep -96 Sale Price $ 143,000 $ 169,000 $ 164,700 Time Adjustment $ - $ - $ - Adj. Sale Price $ - $ 143,000 $ 169,000 $ 164,700 Price / Sq Ft $ $ 133.52 $ 130.10 $ 146.01 Style 1 1/4 1 1/4 1 1 1/4 1st Floor Area 879 871 1,299 948 2nd Floor Area 200 200 180 Total Sq Ft 1,079 1,071 - 1,299 $ (4,400) 1,128 $ (1,000) Quality Fair Fair - Fair Fair Year Built 1939 1950 - 1951 1941 Condition Fair /Normal Normal $ (5,000) Normal $ (5,000) Good $ (10,000) # of Bedrooms 3 (1 Up) 3 (1 Up) - 3 3 # of Baths 1 1 1 1 Basement Area 800 860 1299 948 Finished Bsmt Unfinished 400 $ (2,800) 600 $ (4,200) - Walkout - - _ Fireplaces 1 None $ 2,000 2 $ (2,000) None $ 2,000 Heat / Cooling FA -CA FA $ 1,000 FA - CA - FA -CA - Garage Size 1 Car Bsmt 1 Car $ 5,000 2 Car $ (3,000) None $ 3,000 Deck - Patio $ (1,000) - Porches Glz (poor) - - Glz $ (5,000) Lot Size 66X135 50X300 $ (2,000) 73x133 50x200 $ (2,000) Location Good Equal Equal Equal Other Brick - $ 3,000 - $ 3,000 $ 3,000 Other Other Other Restrictions Net Adjustment ..._....... ,., .- _ . . $ 1,200 $ (16,600) $ (10,000) Adj. Sale Price $ 144,200 $ 152,400 $ 154,700 Sale Price [/] 134.64 $ 117.32 $ 137.15 Assessing Dept. Page 1 4/6/98 . It CASE #5 4309 42' ST W FRONT VIEW STREET SCENE Case # s. City of Edina Board of Review :<M1Assessor's Commentary~:~ t ~4t »` Property I.D. Number: 18- 028 -24 -21 -0037 Date: 4/13/98 Property Address: 4507 BROWNDALE AVE Owner /Agent Name: FRANK LEDERLE -- Comments: See sales comparison Adjustment Grid. The EMV is properly aligned with other homes on Browndale. Recommend no change in value. is.rl w - Reflection I PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID MIMMINZINTEIRM HOUSE4 FRACTION STREET NAME UNIT ZIP--I . . ....... . . .. ... ........... 4507 1/ . agg"ALP ::AVr-: ... 55424- .............. ... ................ 011ner I : LEDERLE FRANK A Omjer3; Oimei-2: LEDERLE JANET A ulmef•4: Zoning: 0000 Prim/sec: Yr. b I t: 1930 Area: Sch. Us t: 273 Wshd: U3 Gr/Us/EK. St1bF'eCS: CURB 319 NEXT Pt.u0n; Mt.Adr; Front: Back: Right: Left: Acres: .00 01 Width: Depth: Mkt-Land Mkt -Bldg Mkt -Mach Mkt-Tot Tx Capacity Hd PT XOwn 1998: IIU9UU 3539UO 1164800 H R IUU 1997: .110900 331800 412700 H R 100 1996: 110900 3106011 421700 11 R IUD Leyal Description: LOT 4 BLOCK 5 CIIIINTRY CLUB DISTRICT, BROWN ,t.: loqis.r I w - Reflecti on I PROPERTY ID SALE DATE . ........... AtID87 .. . .. . .... . . .......... v.../ ......... ........... . . . . ....... ........ .. "R"." : jowl., - --- --- PROPERTY DATA SYSTEM, SALES RECORD UPDATE --------------- Address -------- - - - - -- 4507 1/ BROWNDALE AVE PRICE 22.50 U€T .... ... ... . .... ............ ....... ......................... ........... ... ...... . ........ ............... . - ... ... I ................... ...... . ..... .......... - .............. ............ ... .......... ............. ........... .. ... ............ . ... . .. ... ........... ... ...... ........... ... ... ......... ......... . .. .. ........ ... ............. .. .... .... .... .... ....... - ............ ...... ... .... .. ..... ................ ............. ...... .. ............. ..... ... ....... ......... I .. .... ... ... ......... . ......... ........ .. . . ...... .......... I'll''... ............ ... ....... ................ .... .. .... ..... . I.. I .. .......... ............... + TYPE OF SALE ME, SALES RATIO REMARKS CURR 108 NEXT 'City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: Attach any supporting documentation Owner Name: F?Wl< A Z—. -124,0 � Owner Address: j Home Phone Number: a y 7S�`� Business Phone Number: Property Address: 5,- � Z Assessor's estimated market value for January 2, 1998: G Land: Buildings: Total: G/ , Z* �Q I believe the estimated market value on January 2,1998 should be: Land: Buildings: Total:,�� Purchase Date: i 9U Total purchase price (land & bldgs.): �d, 009 Year Built: House: /-�z Garage: 19z y Additions (Explain): Condition of Structures (Explain): F411Z Description & value of additions and improvements since your purchase of this property: eh �Y�o6�0 ..... . ......... ... .. ......................... ....................................................... ............................... ...................................................................................... ............................... P�ofe signal A praisais:. Ptea e:attach a cop. of:any:recent appraiis�ls Appraisal Date: Indicated Value: AIIE TZA, a, ame �117W7 � I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. City.of Edina Board of Review Address 4507 BROWNDALE AVE PID # 18- 028 -24 -21 -0037 Case # 6 Assessing Dept. Page 1 4/7/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 4507 BROWNDALE 18-028 -24-21 -0037 4617 EDINA BLVD 18- 028 - 24-24 -0019 4603 MORRLAND 18- 028 - 24- 24-0030 4506 EDINA BLVD 18-028 -24-21 -0065 Sale Date May -97 Jun -96 Mar -98 Sale Price $ 499,500 $ 464,000 $ 427,000 Time Adjustment $ - $ 23,200 $ - - Adj. Sale Price $ - $ 499,500 $ 487,200 $ 427,000 Price / Sq Ft $ - $ 185.41 $ 195.04 $ 146.63 Style 2 STORY 1.75 STORY 2 STORY 2 STORY -1 3/4 1st Floor Area 1,288 1,821 1,281 1,456 2nd Floor Area 1,288 873 1,217 1,456 Total Sq Ft 2,576 2,694 $ (5,900) 2,498 $ 4,000 2,912 $ (16,600) Quality VERY GOOD VERY GOOD VERY GOOD VERY GOOD Year Built 1930 1939 1930 1924 Condition GOOD GOOD AVG - GOOD $ 20,000 POOR - AVG $ 60,000 # of Bedrooms 4 3 $ 5,000 4 4 # of Baths 2.5 2.5 2.5 2.5 Basement Area 1 Finished Bsmt 424 454 405 408 Walkout NO NO NO - NO Fireplaces 2 2 2 2 Heat / Cooling HOT H2O CAC $ (5,000) HOT H2O - HOT H2O Garage Size SMALL 2 CAR SMALL 2 CAR 2 CAR $ (3,000) 2 CAR $ (3,000) Deck NO NO NO Porches COVERED NO NO Lot Size NORMAL NORMAL NORMAL NORMAL Location GOOD GOOD GOOD GOOD Other Other Other Other Restrictions Net Adjustment $ (5,900) $ 21,000 $ 40,400 Adj. Sale Price Sale Price [/J $ 493,600 $ 508,200 $ 467,400 $ 183.22 $ 203.44 $ 160.51 Assessing Dept. Page 1 4/7/98 -3all, -:- ;i -Al � rat il! 0-1, ft A x I I,= IFAP Iv !tq Vt' zi f "7' Mar. � rat il! 0-1, ft A x I I,= IFAP Iv !tq Vt' zi f "7' Mar. CASE # 7 City of Edina Board of Review %Assessor's. Commentary '^~µ'.,..... Property I.D. Number: 30- 117 -21 -43 -0063 Date: 4/13/98 Property Address: 5200 SCHAEFER ROAD Owner /Agent Name: KIT AND SUMONDA AROM Comments: Edina Assessors 1998 EMV $1,916,800. Property sold in 9 -93 for #2,050,000, hugely discounted from the original asking price of $6,900,000. During 1995, a request was made of planning commission and council to sub - divide a a portion of original lot, enabling the son to build a new house. Request was granted, and the lot promptly sold for $250,000. On April 3, 1998, two appraisers from the assessors office visited the property for review, purposes, as well as to discuss valuation and review submitted Refinance Appraisal from owner. The most notable change was a 6 car detached garage built in 1995. The garage has a compatible exterior to the house, and has a finished interior. A building permit was properly applied for, but we were not aware of any new on -site structures until today. The quality of materials and workmansip are for superior, even by Edina Standards. Owner / real- estate Agent Sumonda Arom listed the property for sale in 1997. The asking price was $3,000,000. Assessors office recommends no change in value. logis.rlw - Reflection l •1fR�:::y1, «.zzzzzz:> zzzzzzzzzY•zz::z<z::zzz:: >.zzz:: >�{.�.�.y";"�s..:�syzz::z<:: .w`:a�, • • logis.rl w - Reflection 1 CURR 108 NEXT EMARKS Ez , PROPERTY;: DATA SYSTEM. TAXPAYER:: INQUI RY:-- - CURR ::319 :: PROPERTY ID' NEXT '- Pt. Con::- .. .. Mt:. Adr:_:- HOUSEt1 FRACTION:: STREET NAME: UNIT ZIP-4 % Front::.:.200:.Hack. 200> S2DD . 1/ CtiA Fl R Rll <> : 55436* '::.: :: :Right 426 L'eft. .:424 -:: Owner.l::AROM KIT V O-mer3 Obmer2:.. AROM SUMONDA::: ::::::V. Urrner 4 2oniny: R -1 Prim /sec: _ Yr.b1t::A 909 ;::.Area 05000 :Acres 1 95" Sch.Ost:.. 270 :: Wshd:: :.0i': :. Gr /Os /Ex: ;;.- Subrecs::..01 Nidth:: M Depth 425- - Mkt -Land Hkt- Bldy.. Hkt -.Mach =. .Hkt -Tot Tx Capacity- Hd.. PT: %'Dmi 1998 220000 16913800 :r: 1916800 1-1 ':: RL,,,. 100 1997 220000 1659300'' 3879300:' _ ..... „ . H'. RL:.: 100 1996:. 205000 1659300. °' ',1B64300 IF HL 100 Leyal Description LOT- _ 2 BLOCK...... .1 ARM ADDITION >::: •1fR�:::y1, «.zzzzzz:> zzzzzzzzzY•zz::z<z::zzz:: >.zzz:: >�{.�.�.y";"�s..:�syzz::z<:: .w`:a�, • • logis.rl w - Reflection 1 CURR 108 NEXT EMARKS Ez , City of Edina 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Assessor's Office Application Date: �� V , . - - - Attach any supporting documentation Owner Name: V. fi R-O Owne Address: Phone Number: C' — S Business Phone Number: ,4 [Home' Property Address: 'aG S C�f/��� — ( f� ,V I Assessor's estimated market value for January 2, 1998: r Land: Buildings: Total: I believe the estimated market value on January 2, 1998 should be:�jf'� /fE� Land: Buildings: Total: Purchase Date: % ' Total purchase price (land & bldgs.): Year Built: House: f Garage: Additions (Explain): S,& Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: CL� �L �L!✓ S�-�1 -� t!�lt/I.�L.� - �) 5 11 Z�1 `�� Professional A praisals:: EP ease attach a.cop of any recent appraisals Appraisal Date: aZ0 % % Indicated Value: bz) - M, [E .;xptaih the:reasons for:. our:objection: to the:assesso.ra:estirrtate t:market:vatuTTe .:.:: ZZU ' &A.I) I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. r Is. C(&/ - �9'9 6"5 Appraisal Consultants - Lear /DuBay & Associates Real Estate Appraisal & Consulting ra.• N.. o7nnz2 Chase Manhattan Mortgage 7900 Xerxes Avenue South Bloomington, Minnesota File Number: 970032 In accordance with your request, I have personally inspected and appraised the real property at: 5200 Schaefer Road Edina, MN 55436 The purpose of this appraisal is to estimate the market value of the subject property. as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the estimated market value of the property as of 1/16/97, is: One Million Six Hundred Fifty Thousand Dollars ($1,650,000) The attached report contains the description, analysis and supportive data for the conclusions, final estimate of value. descriptive photographs, limiting condmons and appropriate certifications. AA- PA 0 Richard C. DuBav SRA Cert. Gen. Real Property 1021 Bandana Blvd gist. Suitu 229. SI.Paul. Minncsota. 55109 612.644.8560 `�Qescrlotfon Ut' .'ORM RESIDENTIAL APPRAISAL r PORT File No. 970032 ,ertyAddress5200 0 Schaefer Road city Edina state MN zi- Code 4 6 et Descn lion Lot 2 block 1 Arom Addition Coun Henna in Assessor's Parcel No. 30-117-21-43-0061 Tax Year 96 R.E.TaxesS473 64.0 S ecial Assessments $0.00 Borrower Arom Kit V. CurrenIOwner Same Occu anl.. X Owner Tenant vacant Property rights appraised ! X Fee Simple Leasehold Pro act Type PUD Condominium HUD/VA only) - HOAS 0.00 /Mo. Neighborhood or Pro act Name Map Reference 78 - 2D . Census Tract 5120-235.02 Sale Price S 0 Date of Sale Description and amount of loan charges/concessions to be paid by seller Lender /Client Chase Manhattan Mortizag e Address 00 Xerxes Avenue South Bloomington, Minnesota Appraiser Richard C. DuBay SRA Address 1021 Bandana Blvd 1122 St.Paul. MN 55108 Location LJ Urban U Suburban Rural Built up ❑X Over 75% [125-75% ❑ Under 25% Growth rate ❑ Rapid 0 Stable ❑ Slow Property values ❑ Increasing ❑Stable ❑ Declining Demand /supply ❑ Shortage ❑X In balance ❑ Oversupply Marketing time M Under 3mos. 7 3 -limos. Over 6mos. Predominant occW�y ❑X Owner ❑ Tenant ❑X VaraM(0 -SX) vaunt..,5% single family housing PRICE AJ 150 Low neW Present land use % One family 100 2-4 family Multi -lamiy Land use charge - ❑X Not likely ❑Likely ❑ In process To: 2,500 High 60 "!: Predominant Commercial 00 1 10-40 Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: See Attached Addendum. Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities. employment stability. appeal to market. etc.): See Attached Addendum. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand /supply. and marketing time - - such as data on competitive properties for sale in the neighborhood. description of the prevalence of sales and financing concessions. etc.): See Attached Addendum. Project Information for PUDs (11 applicable) - - Is the developer /builder in control of the Home Owners' Association (HOA)? YES NO Approximate total number of units in the subject project Approximate total number of units for sale in the subject project Describe common elements and recreational facilities: - Dimensions 200 x 424 x 200 x 426 - see plat Topography Gently rolling. Size 1.95 Ac./typical. shape Nearly rectangular. Drainage A ears ade mate. View Residential pond. Landscaping See comment. Driveway surface Asphalt, circular. Apparent easements TVDiCal acC. & util FEMA Special Flood Hazard Area LJ Yes Lk No FEMA Zone C Map D . ateMay 1980 I FEMA Me No. 270160 3 Sitearea 85000 SQ.Ft. +/- Comer Lot ETYes 7N. Specific zoning classiliration and description R1 - Residential /Edina Zoning compliance ® Legal ❑ Legalronoo danreg(eandiathemduse) Owegal No zoning Hi hest 8 best use as improved. Present use Other use (explain) Utintles Public Other Electricity ® 800 AmlD Serv. Gas ® Water Sanitary sewer Stone sewer Off- dteImprovements Type Public Private street , ® [I Curb /guttr Rolled Q ❑ Sidewalk None ❑ ❑ Street lights Overhead ❑X ❑ Allev None Comments (apparent adverse easements. encroachments, special assessments, slide areas. illegal or legal nonconforming zoning. use. etc.): See Attached Addendum. GENERAL DESCRIPTION EXTERIOR No. of Units One Foundation No. of Slopes One Exterior Type (Det. /Att.) Detached Roof Design (Style) Cont M. Gutters Existing/Proposed Existin Age(Yrs.) 6 s Storm/Screens ttectiveA a Yrs. 6 s DESCRIPTION Concrete Wells Stone /Stuc Surface Asphalt* a Dwnspts. Yes - both WinaowType Fixed Cas- ment thm n ManulacturedHOUSe No FOUNDATION Slab Bsmnt /Main Crawl Space Basement Full sump Pump None noted Dampness None noted Settlement None noted Infestation None noted BASEMENT AreaSq.Fl. 7005 %Finished 0% Ceiling Shtrk /md Walls various Floor ltd /c /mb Outside Entry es -servi ce and formal ent INSULATION Roof Cncld. ❑X Ceiling Cncld. Walls Cncld. ❑X Floor Cncld. O None un`— ❑ • ROOMS Fover I Livina Dinina I Kitchen I Den Famil Rm. Rec. Rm. Bedrooms If Baths Laundry Other Area S .FL Basement 1 1 1 Y 1 1 1 f 1 h 1 Meeh 7,005 Level 1 1 1 1 1 1 4 3f1h 1 cnvs 8,173 • Level • Finished area above arade contains 11 Room 4 Bedrooms F 1H Bath(s)- 8 173 Sau are Feet of Gross Livina Area INTERIOR Materials /Condition Floors /vin /mbl /pfd • Walls various coffmint Trim /Finish Stained /lamin. Bath Floor- Tile /Wood /Gd Bath Wainscot tile/ lassblck Doors Custom doors. Arch /art With inla s. HEATING Type FWA 10 Fuel Gas CondibonGOOd KITCHEN EQUIP. Refrigerator ® Range /Oven © Disposal © Dishwasher © Fan/Hood ❑O Microwave ❑m Washer er m ATTIC None ❑X Stairs ❑ Drop Stair ❑ Scuttle ❑ Floor ❑ Heated ❑ I Finished AMENITIES Fireplace(s)8Cmmnt 0 Patio apitreaate 0 Deck over pond ❑X Porch ❑ Fence ❑ Pool ❑ SS CC CV WP CAR STORAGE: None ❑ Garage 0ofcars Attached Detached 6 car Built-in 4 +Wash Carport 1 Driveway COOLING Central Yes Other Com utr tionGOOd Additional features (special energy efficient items. etc.): See Attached Addendum. Condition of the improvements. depreciation (physical. functional. and external). repairs needed. quality of construction. remodeling /additions. etc.: See Attached Addendum. Adverse environmental conaruons tsucn as. out not limited to. hazardous wastes. toxic substances. etc.) present in the improvements, on the site. or in the immediate vicinity of the subject property: There are no obvious adverse environmental conditions. The aDDraist FrW"MKF -10 "3 PAGE l OF F. —MwF- -.....•... r. u. m•..— i.rw........—" raw• - a 4 I . W 6A 111111FARY RF¢fnCMT1A1 Af DICIAIewa n0n0%n9r TIMATED SITE VALUE .. ..... .... .. ... = S 500,000 STIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Dwelling 8,173 Sq. Ft. a S225. 00 = S 1 .838, 925 Bsmt. 1005 Sq. Ft. o S 125. 00 - 875,625 F/P Patio Deck SS CC CV WP = in above Garage /Carport 0 Sq. Ft. O $ 0.00 = in above Total Estimated Cost New. = S 2,714,550 Less Physical Functional External Depreciation 21 164 1749; 1 $0 = S 966,380 Depreciated Value of Improvements. I ...... .. _ $ 1 .748.170 'AS -is' Value of Site Improvements . - ....... _ $ 25. 000 INDICATED VALUE BY COST APPROACH = S 2.273. 000 me no. it vv c Comments on Cost Approach (such as. source of cost estimate, site value. square foot calculation and for HUD. VA and FmHA, the estimated remaining economic life of the property): See Attached Addendum. ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLENO.2 COMPARABLE NO. 3 5200 Schaefer Road Address Edina 11027 Bell Oaks Est. Eden Prairie 6581 Beach Road Eden Prairie 4704 Merilane Edina Preximi to Subiect 7 miles south 3 miles west 1/2 mile NE Sales Price S S 1,330,000 1,200,000 S 1,400,000 Price/Goss Lb. Area S 0.000 S 303.03W S 265.02 i $ 266.82 0: ' Data and /or Verification Sources Insp. /plans Owner Insp /Plans /MLS /seller 1995 Parade Home Insp /Plans /Seller Resale of exist.home MLS /Insp /Seller Resale of exist.home VALUEADJUSTMEN S DESCRIPTION DESCRIPTION • - saa mrnt DESCRIPTION axe t DESCRIPTION T • - sxd t Sales or Financing Concessions Coaventlonal..Conventional ;;'Price nestot. Conventional Price ne ot. Conventional Price ne ot. Date of Sale/Time ,Bien t> 10/ Comment 6/96 Comment 1/96 Comment Location Edina /Good Ed.Pr. /Good Ed.Pr. /Good Edina /Good LeasenoI&T-seSimpie Fee Sim le Fee Simple Fee Sim le Fee Sim le Site 1. 95 Ac 1.62 Ac 1 .9 Ac 1.40 Ac View Res /Pond /Gd Res /River Val; Res /Lake -25,000 Res /Pond /Gd Design and Appeal Content . 1 s Content . 1 st' Content . 1 st: Trad.2 story cialityatconstruction Excellent Very Good +100,000 Very Good +100,000 Very Good +100.000 Age 6 Yrs. 1 yr 10 yrs 6 vrs Condition Good Good Good Good Above Grade Room Count Gross Livina Area Total Benin ' Baths Total ' Berm, Baths 1 1 f2h ; comment 4 8 s . Ft. +112,000 Total Berms ' Bann 2 i 1 h ; comment 4,528 Sq. Ft. +128,000 Total Berms ' Baths 10 4 f2h ; comment 5,247 Sq. Ft. +102,000 11 4 F 1 8.173 S . Ft. _ easememaFinished Rooms Below Grade 7005 Sq.ft. 0% Finished 4389sq.ft. Comment 100% finished; +50,000 4528 Sq.ft. Comment 100% finished' +50,000 2673 Sq.ft. 0% finished +100,000 Functional Utility OverimprovmntGood Good Good Heating/Cooling FWA CAir A/ CAir FWA CAir FWA CAir Enemy Efficient Items Good Good Good Good Garage/Carport 6det.& 4 Bui 4car att +25,000 5 car Builtin: +25,000 3 car att +30,000 Porch. Patio, Deck. Fire laces etc. Patio,Deck Fireplaces Patio,Deck fr les comment Patio,Deck 2 fr les comment Patio,Deck 4 fr les comment Fence Pool etc. SS CC CV WP imilar Similar similar To line a o line a 1: To line a 1; To line a 1 Net Ad l. total - ; $ 307,000 - -,,s 278,000 X - ; s 332,000 Adjusted Sales Price o1Comparable " CH33 23. =1:. et 2 31 S 1 6 000 Cross 27 3: Net =: 2 S 1,478,000 CrosS:23'7 Net :: >2 S 1,732,000 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): See Attached Addendum. ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Date. Price and Data Source for priorsales within rot laisal Purchased by Arom's In 1 Analysis of any cement agreement of sale. option, or listing of the abject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: Subject is not currently listed for sale. Previous marketine and sales history have been discussed see improvement discussion). INDICATED VALUE BY SALES COMPARISON APPROACH . . .. .......... $ 1,650,000 Nl>ICAT D VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent S N/A /Mo. x Gross Rem Multiplier N/A = s N/A This appraisal is made X 'as is' Usubjed to the repaim alkrations. inspeetiore orcor ditions listed below U s ubjed to completion per plans and specifications. CanditionsotAppreisaL The subject is aRRraised "as is" - no repgirs are needed for marketing at this time. Final Reconciliation Both the cost and sales comparison aRRroaches were considered in this appraisal. Greatest em basis is Rlaced on sales comparison. The income aRRroach is not reliable in single family residential aRRraisal. The cost apRroach reflect overim rovement as does sales comp. The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report based on the above conditions and the certification. contingent and limiting conditions. and market value definition that are Stated in the attached Freddie Mac Form 139/Famie Mae Form 10018 (Revised 6 / 93 ). I IWE) ESTeIATE THE MARKET VALUE, AS DEFINED. OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT. AS OF 1 / 16/ (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 1,650,000 APPRAhSEec/1 ./I n / SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signature (�11/�, �II'JX Signature F) Did C:) Did Not Name Richard Du Day SRA Name Inspect Property Date Report Signed 1/20/97 Date Report Signed State Certification& Cert. Gen. Real Property State MN state certifications State Or State license If 4000991 state Or State License 0 Slate i� r. w sm.a.. rs .mr• av'. «.. w.r ooa maw Appraisal Consultants nt- N N r J 2 a z O N s a a i O U N W J N Comp 3 Comp 2 Comp 1 PL mca �� 0 iCr:�� �_l . 6�_e, III•.,' r� • • Appraisal Consultants - Lear /DuBay & Associates Real Estate Appraisal & Consulting NEIGHBORHOOD BOUNDARIES AND CHARACTERISTICS: The competitive market for $1,000,000 + properties is region wide. Less than 1 /10 of 1% of metro homes are in this price bracket. Pockets of very high value homes are found in Edina, North Oaks, Dellwood, Lake Minnetonka area, Eden Prairie, and other western suburbs. The immediate submarket is bounded by the city limits on the north and west, highway 100 on the east and highway 62 on the south. NEIGHBORHOOD FACTORS THAT AFFECT MARKETABILITY: The subject is located on the west side of Schaefer Road, south of Interlachen. The character of the area is upper bracket residential. Housing styles vary from large but modest suburban homes to top quality, architecturally significant homes such as the subject. Location is a primary positive characteristic of the Edina submarket. Freeway access (east -west & north- south) is available within 2 miles. Local shopping and employment is available within a 5 mile radius. No obvious adverse. locational characteristics were noted in the subject or the comparable neighborhoods. NEIGHBORHOOD MARKET CONDITIONS: All forms of financing are generally available in this submarket. Current (1st quarter 1997) conditions are stable, entering a winter market. Interest rates are variable within a fairly narrow range and are expected to remain at current rates into the 1st quarter of 1997. Available listings are consistent with a typical winter quarter market. Price and appliances are typically negotiated items. Homes this (location) market typically require from 1 to 5 months to market. Homes in the subject ($1,000,000 +) market often take over a year to sell. The subject was marketed for over I year when purchased by the Arom's. Purchase price in December of 1993 was $2,050,000. A portion of the site was sold following replat and a detached 6 car garage constructed. The home was marketed for $3,000,000 in 1995 and did not sell. SITE COMMENTS: No obvious adverse easements or encroachments were noted during site inspection. The site ii snow covered. Owner indicates that it is landscaped, photographs shown indicate extensive retaining walls, lawn, sprinkler system, and aggregate walks with granite inlays. ADDITIONAL FEATURES: The subject is an architecturally designed home that follows an evolved prairie school theme. It is among the premier homes in Minnesota, constructed in 1991 at a cost that exceeded $7,000,000. The home is unique and large with over 8000 square feet on the main floor. Interior clear heights are from 9 to 18 feet. There are skylights and full wall thermopane windows that bring the wooded site into the home. The materials used reflect the best available including cut stone, poured concrete floors (main and basement) and concrete support system. Finish materials include marble, granite, and corian with inlays, oak - cherry - walnut. woods, wrought iron, and custom carpets. The home melds art and architecture in the builtins and fixtures. There are sculptures integrated into the structure of the home. There is a prairie school theme of geometric shapes carried throughout the home. The floor plan is expansive. Entry is on the east and requires walking up to a formal entrance with double architectural doors. Inside the entry foyer is a half bath and coat room. The floor plan anticipates extensive entertaining. The primary entertaining zones of the home are the east end of the main floor and the family room on the lower level. The main floor has several private conversation areas. The kitchen features corian countertops, and top line appliance package (Kitchenaid, dacor, GE, and Subzero). The master suite is comprised of a bedroom, sitting room, large master bath (walkin tub), and closet with extensive builtins. The remaining bedrooms and baths are located on the east end of the home. The lower level is finished in a manner commensurate with the main floor. There is an entertaining area with wet bar, dining area and family room with cherry entertainment center. There are two rooms that are finished as an office and an exercise room. To the rear there is a nanny quarter with small kitchenette, bedroom and bath. Auto storage includes a 4 car builtin garage and car wash and a detached 6 car garage. 1021 Bandana Blvd East. Suite 229, St.Paul. Minnesota, 55108 612.644.8560 0 a Appraisal Consultants - Lear/DuBay & Associates Real Estate Appraisal & Consulting File No. 970032 ADDITIONAL FEATURES: (continued) Mechanically the subject is state of the art. The home is zoned for over 8 zones plus heated garage. 800 amp electrical service exceeds typical market. Heating, ventilating and humidity is computer controlled. There is a sophisticated security system covering the interior and exterior of the home. There is a commercial quality telephone system. In summary, this home is among the premier homes in Minnesota. It is affordable to only the wealthiest on Minnesotans and as such will have an extended marketing period. The most likely competition will also feature top quality construction and materials. A significant difference is the integrated art and the consistent themes found in the subject. It is unlikely that the "contribution" of the excess construction and art/design characteristics of the home can be recaptured at sale ($7,000,000 investment vs. $2,050,000 sale price) or reflected in the appraisal process. CONDITION OF THE EMPROVEMENTS: The subject is in good overall condition. The floor plan is unique. Most significant issue is the obsolescence present in overimprovement. The market has already judged the property to be an overimpovement based on the gap between cost and sale price after extensive marketing. This is supported by the fact that the property failed to sell at a price above the 1993 purchase when listed in 1995. No adverse locational conditions were noted during site and comparable inspection. Typical cost per square foot in the upper bracket market ranges from $150 to $350 per square foot. The subject cost in excess of $500 per square foot. COST APPROACH COMMENTS: Base cost is from Marshall Valuation Cost Guide and local cost comparables. Cost used ($332 per sq.ft.) reflects the market locally for topline custom construction. I am aware of the cost to construct the subject in 1991. Additional features are based on local market cost. Depreciation is based on effective age /economic life ratio. Functional obsolescence is charged for overimprovement. Original cost exceeded $7,000,000. The original cost included design and consulting cost as well as the builtin art. The conclusion in this approach reflects the market penalty for the excess size and quality that the market is unwilling to pay for. Site contribution is based on market comparables and allocation of site contribution in sales comparison. CLA 16.00 x 33.00 x 1 = 528 16.00 x 17.00 x 1 = 272 8.00 x 27.00 x 1 = 216 4.00 x 10.00 x 1 = 40 20.00 x 33.00 x 1 = 660 35.00 x 86.00 x 1 = 3010 12.00 x 50.00 x 1 = 600 14.00 x 72.00 x 1 = 1008 4.00 x 14.00 x 1 = 56 4.00 x 14.00 x 1 = 56 4.00 x 14.00 x 1 = 56 15.00 x 37.00 x 1 = 555 22.00 x 11.00 x 1 = 242 22.00 x 32.00 x 1 = 704 9.00 x 9.00 x 1 = 81 9.00 x 9.00 x 1 = 81 12.00 x 6.00 x 1 = 72 4.00 x 4.00 x 1 = 16 4.00 x 8.00 x 1 32 8.00 x 11.00 x 1 = 88 -10.00 x 20.00 x 1 = -200 Total Sq. Ft. = 8173 SALES COMPARISON COMMENTS: FINANCING AND CONDITIONS OF SALE; All of the sales are arms length transactions that used cash or typical market financing. Subject and sales 4 and 5 were vacant at sale. Comparable 1 was a "parade" home that sold prior to the parade. A very minimal discount was given to the buyer for allowing the home to be shown during the Parade of Homes. 1021 Bandana Blvd Fast. Suite 229. St.Paul, Minnesota, 55108 612.644.8560 • Appraisal Consultants - Lear /DuBay & Associates Real Estate Appraisal & Consulting Filw SALES COMPARISON COMMENTS: (continued) DATE OF SALE; No adjustment is needed for date of sale. There is no evidence that inflation is impacting the prices paid for homes in this bracket. Marketing times in excess of a year are not unusual. SITE AND LOCATION; As previously discussed, homes in this price bracket are found throughout the metro area. All of these homes are well located with a view of a pond, lake, or the river valley. Comparables 1 and 3 do not require an adjustment. Sale 2 has lake frontage on Bryant Lake and is given a small downward adjustment. Sales 4 and 5 have significantly smaller sites (without an offsetting benefit) and are adjusted upward. Sale 5 is on a narrow site that requires a side orientation of the home. This is inferior to the other comparables and the subject. QUALITY, AGE AND CONDITION; An adjustment of less than 10% is made to all of the sales for quality of construction. All of the sales represent the upper bracket in terms of size, construction, and features. The subject exceeds all in the level of detail, the quality of materials used and the execution of design themes throughout. This adjustment is small in terms of dollars and percentage in keeping with the discussion of obsolescence. Style is not adjusted, there is no support for an adjustment based on traditional vs contemporary design characteristics ($ /sq.ft. sales 2 vs 3). Comparable 5 was clearly inferior in condition. The adjustment is based on the amount the buyer felt would be spent to update the home and repair some damage left by previous occupants. SIZE, ROOMS, BASEMENT FINISH; These are related issues. Size and room count are combined concepts. A minimal adjustment is made for size based on a percentage of price per square foot. Care must be taken in the size adjustment so as not to overstate the impact of the overimprovement previously discussed. Comparable .4 is closest to the subject in size but has the weakest data (see reconciliation of sales comparison approach). Basement size and finish are considered in the subjective adjustment for basement. An adjustment between 3 and 8 percent is made to offset the large size and superior finish of the subject. Additionally comparable 5 has a partial basement and inferior finish compared to the other sales. OTHER ADJUSTMENTS; the garage adjustment is intended to compensate for car storage and the detached garage. Fireplaces are somewhat difficult to compare. The subject has two fireplace stacks but they can be viewed from many of the rooms in the entertaining and family zones of the home. Special features tend to be an item of owner preference and offset. RECONCILIATION; 4 of the 5 sales used in this analysis were inspected by Appraisal Consultants. Additional sales considered but not used include; 6804 Cheyenne Tr (5/96, $1,375,000) - unable to verify critical data. 8150A 20th St. E. in Rockford is an 80+ acre hobby farm with a 9,000 sq.ft. residence (10/96, $2,615,000 unverified). This home was inappropriate because of distance, different typical buyer and lack of verification. Homes on Lake Minnetonka were not used as they are considered to have a different typical buyer, 90 Claycliffe (9/96, $1,725,000 unverified), 430 Ferndale (7/96 $1,950,000 unverified). I have reconciled to a value estimate of $1,650,000. This is based on a primary weighting of sales 1,2,3 and 5. Adjustment percentaSes exceed typical guidelines in most respects, this in not unusual given the unique properties that compete in this submarket. The subject is clearly superior to all of the sales and could certainly sell for a much higher price, however the goal of this appraisal is to estimate the market value of the property for collateral purposes and these sales reflect the nature of this assignment. 1021 Bandana Blvd East. Suite 229, St.paul. Minnesota, 55108 612.644.9560 a 0 Appraisal Consultants - Lear /DuBay & Associates Real Estate Appraisal & Consulting File No. Ski tc•h • not +o S" it- 1� e t. w 4. E t n fl r u Ltrin, 31 A� 31 It pa•+ij.a. tb 4r 4a 1 M Y Y2. 31 �aJ 9 1 Plat AQ? sotw in fig j * .. A9W p1 A V;6 � ai 7 tir ttt- s E w • w S v ei l e 1 UT i w.• 1021 Bandana Blvd Fast. Suite 229, St.Paul, Minnesota, 55108 612.644.8560 City of Edina Board of Review Address 5200 SCHAEFER ROAD PID # 30- 117 -21 -43 -0063 Case # 7 Assessing Dept. . Pagel 4/10/98 Sales Comparison Adjustment Grid ......................I ........ - Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 5200 SCHAEFER RD 30- 117 -21-43 -0063 33 BELLOR DR 07- 116 -21 -21 -0053 4707 MERILANE 29- 117 -21 -12 -0002 6620 CHEYENNE TRAIL 06-116 -21-42 -0025 Sale Date Sep-93 Apr -97 Jan -96 Dec -97 Sale Price $ 2,050,000.00 $ 1,200,000 $ 1,400,000 $ 1,150,000 Time Adjustment Adj. Sale Price $ 2,050,000.00 $ 1,200,000 $ 1,400,000 $ 1,150,000 Price / Sq Ft $ 250.83 $ 352.42 $ 280.39 $ 308.72 Style 1 STORY I 1 STORY 2 STORY 1 STORY 1 st Floor Area 8,173 1 3,405 2,673 3,725 2nd Floor Area 1 2,320 Total Sq Ft 8,173 3,405 $ 381,000 4,993 $ 252,000 3,725 $ 356,000 Quality EXCELLENT VERY GOOD $ 100,000 VERY GOOD $ 100,000 VERY GOOD $ 100,000 Year Built 1989 1992 1989 1994 Condition GOOD GOOD GOOD GOOD # of Bedrooms 4 3 (1 MAIN) 5 4 # of Baths 4 FULL 3 HALF 3 FULL 2 HALF $ 5,000 4 FULL 2 HALF $ 2,000 3 FULL 2 HALF $ 6,000 Basement Area 7000 3405 $ 25,000 2673 $ 30,000 1875 $ 35,000 Finished Bsmt 6300 2500 $ 152,000 2400 $ 156,000 1875 $ 177,000 Walkout YES YES YES YES Fireplaces 4 2 5 4 Heat / Cooling FA - CA FA - CA FA - CA FA - CA Garage Size 4 ATT 6 DETACHED 4 CAR $ 25,000 3 CAR $ 30,000 3 CAR $ 25,000 Deck YES YES YES YES Porches 3 SEASON $ (8,000) 3 SEASON $ (8,000) Lot Size 1.95 ACRE AVERAGE $ 250,000 1 ACRE $ 200,000 1 ACRE $ 200,000 Location POND GOOD POND-GOOD LAKE Other Other Other Other Restrictions Net Ad'ustment I >. $ 938,000 $ 762,000 $ 891,000 Ad'. Sale Price 1 $ 2,138,000 $ 2 162 000 $ 2,041,000 Sale Price 627.90 433.01 547.92 Assessing Dept. . Pagel 4/10/98 OiFR -77 I.: Case # 16 City of Edina Board of Review Assessor's Commentary Property I.D. Number: 30- 117 -21 -23 -0001 & 0002 / 30- 117 -21 -24 -0002 Date: 4/13/98 Property Address: 6901 Maloney Avenue lOwner/Agent Name: Grand View Park Cemetery Association / Robert D. Gisvold, Es q. Comments: The case in front of you consists of three parcels which make up part of the subject property. These parcels have been known as part of Grand View Park Cemetery and up until this year have been classified and valued as exempt property. Attached you will find supporting documentation for our position and numerous letters requesting information of the owner in order for them to maintain their exempt status. As of this date we have not received the supplemental information (Mr. Gisvold has informed me that they are in the process of assembling it) as requested and required by Minnestoa State Law, M.S. Section 272.025. In addition, we are scheduled to meet with Mr. Gisvold and Hennepin County staff on April 14, 1998 to further discuss this issue. This is their next avenue of appeal. We hope to have, at that time, the required documentation. We ask the Board to sustain the value and classification that we have placed on the property for the 1998 assessment. The applicant may proceed to the next level of appeal when, hopefully, they will have all of the required documentation. PID# EMV Class Hmst Status 30- 117 -21 -23 -0002 $ 509,400 R Non Homestead 30- 117 -21 -23 -0001 $ 297,200 LR Non Homestead 30- 117 -21 -24 -0002 $ 123,400 LR Non Homestead logis.rl w - Reflection 1 <3 < c. Bois i. ::3:/{Y >. ?!ii :n]Y!+.V.SV1t•}I.IS!L� .4:'.: �!•T•: }i:�^FF! ... is.rlw - Reflection 1 CORR 108 NEXT E €-v wiv , IRKS, .. .. ....... -M.,ki Mkt- Land. .PROPERTY DATA SYSTEM. Hd PT. %Oran:. 1998::: TAXPAYER INQUIRY CURB 319 PROPERTY ID 1997: NEXT.::> < R 0 1996:.. R , Pt. Con:. Mt.Adr: :,. HOUSED FRACTION" STREET NAME UNIT.: ZIP -4 -:' Front: Back:' "' .. 1/ ODODD+ Right: Left:,. Oranerl: GRANDVIEW CEMETE RY Oraner3:..... Owner•2: O1111er4: Zoning: Prim /sec: Yr.blt: 0000 Area: Acres: 6.86. Sch.Dst:, 27U::.Wshd:..01 Gr /Os /Ex:.r.: 5ubrecs: 01 Width: Depth::.... . <3 < c. Bois i. ::3:/{Y >. ?!ii :n]Y!+.V.SV1t•}I.IS!L� .4:'.: �!•T•: }i:�^FF! ... is.rlw - Reflection 1 CORR 108 NEXT E €-v wiv , IRKS, .. .. ....... -M.,ki Mkt- Land. Mkt - Bldg;::.. Mkt -Mach: Mkt- Tot Tx Capacity Hd PT. %Oran:. 1998::: 297200 s 297200' .. L <'0:. 1997: R 0 1996:.. R , 0 Leyal Description:.: __= NO LOT AND BLOCK GIVEN HNPLATTED 30 117 21 THAT PART OF THE 'S 1 &2 OF NW 1 &4 CORRESPONDING TO ELKS 4 AND 5 MEALEYS GRAND VIEW REVISED NON VAC:, INCL.ADJ 1 &2 OF ST VAC <3 < c. Bois i. ::3:/{Y >. ?!ii :n]Y!+.V.SV1t•}I.IS!L� .4:'.: �!•T•: }i:�^FF! ... is.rlw - Reflection 1 CORR 108 NEXT E €-v wiv , IRKS, .. .. ....... -M.,ki is.rl w - Reflection 1 Il PROPERTY ID SALE PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 6901 1/ MALONEY AVE TYPE OF SALE SALES RATIO REMARKS CURR lUB NEXT PROPERTY DATA SYSTEM TAXPAYER INQUIRY CI1RR 319 PROPERTY ID NEXT z <'i Pt.Con: Ht.Adr: HOUSE4 FRACTION STREET NAME UNIT ZIP -4 Frunt: Back: 11ALR31EYV1 -; 55343+ Right: Left: Oranerl: GRANDVIEW CEMETE RY Oraner3. Owner-2: Uraner4: Zoning: Prim /sec: Yr.blt: 0000 Area: Acres: 15.20 5ch.Dst: 270 Wshd: 01 Gr /Os /Ex: E Subrecs: 02 Width: Depth.— Mkt -Land Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT Dan 1998: 415900. 93500 509400 R 0 1997: R 0 1996: R 0 Legal Description. __= NO LOT AND BLOCK GIVEN UNPLATTED 30 117 21 THAT PART OF THE N 1 &2 OF S 1 &2 OF NW 1 &4 CORRESPONDING TO BLKS 6 7 AND B INCL ADJ ST AND ALLEYS OF HEALEYS GRAND VIEW REVISED NOW VAC EX HWY Il PROPERTY ID SALE PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 6901 1/ MALONEY AVE TYPE OF SALE SALES RATIO REMARKS CURR lUB NEXT :logis.0w- Reflection 1 PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID CURB 319 NEXT Mkt - Land Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT Min 1998: 1234p0. 123400 LR 0 1997: R 0 1996: R 0 Leyal Description:. __= NO LOT AND BLOCK GIVEN UNPLATTED 30 117 21 COM ON N LINE OF S 1 &2 OF NW 1 &4 AT A PT DIS 829 58 &100 FT W FROM NE CDR THEREOF TH S GOD 75 &100 FT TO CTR LINE OF SUMMIT AVE TH AT RIGHT ANGLES MORE LEGAL z: .....:.........z. xx, ` :xx:•nv .x, n,.....:.v...:..v. `•�`,v' 'i �.i..`.} �ii2ifi[ +n4•. v vn4•. �} `y.���. v >•. .� 1I. :'..1S.Y.4T. .iS:4 }'ji•Al`iii�R•FR ..RS1i�i:•:� #: .............. �wh.};..www!C.!!�'K•'iC• x::. . . ..:::.:. •...j {• ^ii: ^},viiv::i$ij•:yji: ..4 - ,.ix:. �i 4;...x ...'. ` ewww...vw , }*' YY'y,w .:i!Sti.. 1iiiiL? ii• }:tii.}xii:i�iiz<tiCi7.v,w...:,., .. -. ... -- - -. -+,� }.a.•R.. F'•: '�.' : : < >'• }w „ ......... .........:::y...........': 3,�..�. „<,,.,. \:. , "•.kkksse??1�s<?�kkek2 «<�;Ntti ... . !!.4.,�:, .,' .iz < louis.r1w -Reflection 1 88 MW PROPERTY ID SALE DATE PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 6707 1/ MALONEY AVE TYPE SALES. IEMARKS CURR 108 NEXT zzitiii:: ;; :i<'• %< ;;;•> Pt.Con: Mt.Adr: HOUSEtl FRACTION STREET NAME UNIT ZIP +4 Frunt: Back: 6707 1/ 11AL031EY AVI 55343+ Right: Left: Ownerl: GRANDVIEW CEMETE RY Oraner3. Oraner2: Owner-4: 2oniny: Prim /sec: Yr.blt: 0000 Area: Acres: 4.00 Sch.Dst: 270 Wshd: 01 G;-/Os/Ex: E Subrecs: 02 Width: Depth: Mkt - Land Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT Min 1998: 1234p0. 123400 LR 0 1997: R 0 1996: R 0 Leyal Description:. __= NO LOT AND BLOCK GIVEN UNPLATTED 30 117 21 COM ON N LINE OF S 1 &2 OF NW 1 &4 AT A PT DIS 829 58 &100 FT W FROM NE CDR THEREOF TH S GOD 75 &100 FT TO CTR LINE OF SUMMIT AVE TH AT RIGHT ANGLES MORE LEGAL z: .....:.........z. xx, ` :xx:•nv .x, n,.....:.v...:..v. `•�`,v' 'i �.i..`.} �ii2ifi[ +n4•. v vn4•. �} `y.���. v >•. .� 1I. :'..1S.Y.4T. .iS:4 }'ji•Al`iii�R•FR ..RS1i�i:•:� #: .............. �wh.};..www!C.!!�'K•'iC• x::. . . ..:::.:. •...j {• ^ii: ^},viiv::i$ij•:yji: ..4 - ,.ix:. �i 4;...x ...'. ` ewww...vw , }*' YY'y,w .:i!Sti.. 1iiiiL? ii• }:tii.}xii:i�iiz<tiCi7.v,w...:,., .. -. ... -- - -. -+,� }.a.•R.. F'•: '�.' : : < >'• }w „ ......... .........:::y...........': 3,�..�. „<,,.,. \:. , "•.kkksse??1�s<?�kkek2 «<�;Ntti ... . !!.4.,�:, .,' .iz < louis.r1w -Reflection 1 88 MW PROPERTY ID SALE DATE PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 6707 1/ MALONEY AVE TYPE SALES. IEMARKS CURR 108 NEXT zzitiii:: ;; :i<'• %< ;;;•> KALINA, WILLS, GISVOLD & CLARK, P.L.L.P. RONALD S. KALINA (1944-199 1) ATTORNEYS AT LAW NATHAN J. NELSON" JAMES H. WILLS* SUITE 200 AMANDA C. DUPONT ROBERT D. GISVOLD 941 H[LLWINU Roan NORTHEAST ANDREW R. CLARK* MINNEAPOLIS, MINNESOTA 55432 -5964 OF COUNSEL MICHAEL C. GLOVER 612/789 -9000 JAMES C. HARDMAN" *ADNErrrED IN MINNESOTA AND WISCONSIN TELECOPIER 612/571 -2418 CAROLE CLARK ISAKSON **ADMITTED IN MINNESOTA AND ILLINOIS GRANT J. MERRITT REPLY TO MINNEAPOLIS OFFICE ROBERT D. GISVOLD Direct Dial: (612) 572 -3440 April 6; 1998 City of Edina City Assessor 4801 West 50th Street Edina, Minnesota 55424 -1394 Re: Grand View Park Cemetery Association Value Notice PID No.s 30 -117- 2123 -0001; 30- 117 - 2123 -0002; & 30 -117- 2124 -0002. Dear Sir/Madam: HAND DELIVERED Attached please find Board of Review applications with respect to the January 2, 1998, Value Notices to the above referenced properties. Should you have any questions, do not hesitate to give me a call. Sincerely, KALINA, WILLS, GISV D & CLARK, P L.P. Robert D. Gisvold, Esq. fC 0101i�'i1 cc: Mr. Harry Lindberry Enclosures BHOMEMMIIvENIMEMNA.LTR BRAINERD OFFICE: 1120 INDUSTRIAL PARK ROAD, BRAINERD, MN 56401 (800) 596 -5547 0 U.1;01-93 14:33 FAX 927 7643 CITY OF EDINA Q 003 City of Edina Assessor's office 4801 West 30th Street Edna, MN. 55424 -1394 P.I.D. # 3D - l %. I - ZI --Z3 001 1 Date Returned: q - 4 -5 Q, Time: Received By: Case # Ito Foc�ffce� as�c�l � . Phone: (812) 826 -0365 F= (612) 826-0390 [TDD (Deaf Only): (612) 826-03791 Board of Review Residential Application Application Date. April 6 1998 Attach any sup ordng documentation Owner Name: Grand -View Park Cemetery Owner Address: 6901 Maloney Avenue, Hopkins, MN 55343 -8475 Home Phone Number. N/A Business Phone Number. Property Address: 24 (address unassigned) Assessor's estimated market value for January 2, 1998: Land: Buildings: 1 believe the estlmabed market value on January 2,19% should be: Land: Buildinos: 938 -1135 Total: $297 , 200 Total: Exempt $0.00 Pur^ase Dane: 1866 ITotai ourchase price !land & bldgs.): Unknown Yeer 801t House: N/A Garage: N/A oeernm,s rF"Inlrii• M/n Condition of Structures Explain!: N/A Description 8 value of additions and improvements since your pumhase of this property N/A fes iciu it 3�1 P�easeatf�ch i::c6P :nf iany; �e�errt;a raiSais':' :::': ...:;'::. :.;'.;.:::.: ';' ... Appraisal Date: N/A Indicated Value: N/A Ex lain: thed:i6asoft1dc. Wr:6WO tiomto ih*'dsdessnrl ei:4 isEed:b14*etvatder The subject property is a cemetery and has always been exempt from taxation pursuant to MSA 307.09 (attached hereto). There has been no changes in the use of the property and the proposed Assessor's Market Value Subject to Taxation is unlawful. I respectfully request that the exempt status of the subject property be reinstated. 100 HERESY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE ISEST OF MY KNOWLEDGE AND BELIEF. uO Si nature of applicant- ` RETURN URN THIS APPLICATION TO THE eDINA ASSESSOR'S OFFIC SY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YCUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO ': _E SCHEDULED BOARD OF REVIEW MEETING. CITY OF EDINA 4801 WEST 50TH STREET EDINA, MN 55424 -1394 TELEPHONE: 612-826-0365 TDD: 612- 826 -0379 PROPERTY ID: 30- 117 -21 -23 -0001 PROPERTY ADDRESS: PROPERTY VALUE FOR 1998 VALUE NOTICE JANUARY 2, 1998 CLASSIFICATION: RESIDENTAL LAND NON HOMESTEAD PAYABLE 1999 THIS NOTICE CONTAINS YOUR 1998 CLASSIFICATION AND VALUATION FOR TAXES PAYABLE IN 1999. IF YOU BELIEVE THE MARKET VALUE OR CLASSIFICATION OF THIS PROPERTY HAS BEEN DETERMINED INCORRECTLY, YOU HAVE THE RIGHT TO MAKE AN APPEAL PLEASE CONTACT THE EDINA ASSESSOR'S OFFICE (612 -826 -0365) AS SOON AS POSSIBLE TO REVIEW ANY DATA SUPPORTING YOUR POSITION. THE CITY OF EDINA BOARD OF REVIEW IS SCHEDULED TO MEET, MONDAY APRIL 13, 1998, AT 5:00 PM IN THE CITY HALL COUNCIL CHAMBERS. APPLICATIONS TO APPEAR BEFORE THE BOARD MUST BE RECEIVED NO LATER THAN, APRIL 6, 1998. TO: GRANDVIEW CEMETERY 6901 MALONEY AVE EDINA, MN 55343 CLASSIFICATION IS BASED ON THE USE OF THE PROPERTY AND IS DEFINED BY STATE STATUTES. ESTLNIATED MARKET VALUE IS THE MOST PROBABLE PRICE THAT A WELL INFORMED BUYER WOULD PAY A WELL INFORMED SELLER FOR A PROPERTY WTTHOLT EITHER PARTY BEL\G UNDULY FORCED TO BUY OR SELL THE VALUE OF YOUR PROPERTY IS BASED ON REPORTED AND RECORDED \LaRKET DATA COLLECTED OVER THE PAST YEAR LLN[T'ED NIARKET VALUE IS THE TAXABLE VALUE FOR RESIDENTIAL. AGRICULIT RAL OR NON - COMMERCIAL SEASONAL RECREATIONAL PROPERTIES (HOMESTEAD OR NON- HO%IESTEAD). THE PROPERTY'S TAXABLE VALUE INCREASE MUST NOT EXCEED (1) 10° o OF THE PREVIOUS YEAR'S TAXABLE VALLEY.. OR (2) 1/4/ OF THE DIFFERENCE BETWEEN THE CURRENT YEAR'S MARKET VALUE .AND THE PREVIOUS YEAR'S TAXABLE VALUE. WHICHEVER IS GREATER EXCLUDING D PROVEMENTS. QUALOYING LVIPROVEME - \T VALUE IS THE AMOUNT OF IMPROVEMENT VALUE EXCLUDED FROM TAXATION ON HOMESTEADED PROPERTIES THAT ARE 35 YEARS OF AGE OR OLDER AND HAVE A MARKET VALUE OF NOT MORE THAT 5150,000. THIS AMOUNT MAY BE EXCLUDE FOR TEN YEARS. AFTER THE BASE QUALIFYING PERIOD, THIS AMOUNT IS PHASED BACK INTO THE TAXABLE VALUE AT 20% EACH YEAR FOR FIVE YEARS. IF THE PROPERTY IS SOLD OR BECOMES NON - HOMESTEADED, THE EXCLUDED VALUE BECOMES TAXABLE FOR THE FOLLOWING ASSESSMENT YEAR PLEASE CONTACT YOUR LOCAL ASSESSOR FOR MORE INTORVIATION AND RESTRICTIONS. BOARDS OF EQUALIZATION YOU kLAY APPEAL DECISIONS OF THE LOCAL BOARD OF REVIEW TO THE COUNTY BOARD OF EQUALIZATION. YOU MAY NOT APPEAR DIRECTLY AT THE COUNTY BOARD OF EQUALIZATION WITHOUT' FIRST APPEARING AT THE LOCAL BOARD. THE 1998 COUNTY BOARD OF EQUALIZATION WILL BEGLN MEETING ON JLNE 15, 1998. YOU MUST CALL 348 -5076 FOR AN APPOINTMENT BEFORE JUNE 8.1998. STATE TAX COURT STATE LAW ALSO PROVIDES THAT A PROPERTY OWNER CAN APPEAL TO THE \[INNESOTA TAX COURT. FOR INFORNIATION ON THE TAX CONTACT THE T.A.\ COURT OFFICE. 520 LaFAYETTE ROAD. 2''0 FLOOR ST PAUL MN 55155. TELEPHONE NO 296 -2806. 1998 PROPERTY TAX STATEMENT '" L A &.. a d v v v. STATE COPY Hennepin County Treasurer A -600 Government Center "c 1J0 Minneapolis. MN 55487 -0060 Use this copy to claim Property Tax Refunds. Read back for information on eligibility and how to obtain Office Hours 8:00 to 4:30 Monday - Friday forms. File by August 15th. Phone 612- 348 -3011 TAXPAYER OR AGENT i Hearing Impaired with TDD Equipment 612 - 348 -346 IIIIIIIIIIIIIIIIIIIIIIII�IIIIIIIIIIIIIIIII 'lI1II111111I�1I111' GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 CWNER GRAND -VEW PARK CEMETERY TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343-8475 OWNER GRAND -VEW PARK CEMETERY PROPERTY IDENTIFICATION NO. MUNIC PROPERTY IDENTIFICATION NO. 30- 117 -21 23 0001 24 30- 117 -21 23 0001 Use these amounts when filling out Form M -1 PR to see if SCHOOL WATER SEWER you are eligible for one or both of the refunds available. MUNIC DISTRICT SHED DISTRICT Line 1: .00 24 270 1 Line 2: .00 Line 6: .00 PROPERTY ADDRESS 24 ADDRESS UNASSIGNED Taxes Payable in 1997 1 Taxes Payable in 1998 i ADDITION Property Class(es): UNPLATTED 30 117 21 RES NHSTD RES NHSTD LOT BLOCK New Improvements: THAT PART OF THE S 1 &2 OF NW 1 &4 i Estimated Market Value: MTG CODE LOAN NO. EXEMPT I EXEMPT Taxable Market Value: EXEMPT EXEMPT If this box is checked you owe delinquent taxes and If this box is checked you owe delinquent taxes aI X I may not apply for the Property Tax Refund. a may not apply for the Property Tax Refund. Contact our office for the amount due. Contact our office for the amount due. __ -____- DETACH PAYMENT STUB ; HERE BEFORE MAILING __ ____ ____ _____ _ _ _-j' "'---------------- "--- -- - - --- "' THIS STUB MUST ACCOMPANY FIRST HALF PAYMENT. Pay on or before May 15, 1998 to avoid penalty. i ST HALF Please read reverse side of payment information. 1 PAY STUB 1998 .AXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 If name and/or address as shown above are not correct, check box and make correction on back of this form DELQ MUNIC MTG CODE LOAN NO. 24 PROPERTY ADDRESS 24 ADDRESS UNASSIGNED F'HUrtHTY IUENTIFICATION NO. FULL TAX FOR YEAR I FIRST HALF TAX 30- 117 -21 23 0001 1,904.56 1 952.28 211173023000100019045600009522821117302300017 . •�• •• •�• •• •• •• � • • rL�ndL nGhu un.� yr '�nm i'vr 1998 PROPERTY TAX STATEMENT PENALTY, PAYMENT AND ESCROW INFORMATION PROPERTYID NO. 30- 117 -21 23 0001 Property Class(es):........ .RES NHSTD New Improvements: .............. 0 Estimated Market Value:........... EXEMPT Taxable Market Value: ............. EXEMPT 1. Use this amount on Form M -1 PR to see if you're eligible for a property tax refund .................................................... 2. Use this amount for the special property tax refund on chedule 1 of Form 11,111 DO s.............................. .00 1 Your Property Tax and How It Is Reduced By The State 3. Property tax before reduction by state paid aids and credits .... 4. Aid paid by the state of Minnesota to reduce your property tax . . 5. Credits paid by the state of Minnesota to reduce your property tax: a. Education homestead credit .......................... b. Other credits ...... ............................... . 6. Property tax after reduction by state paid aids and credits..... . .00 .00 RES NHSTD 0 EXEMPT EXEMPT .00 .00 .00 .00 .00 .00 .00 .UU Where Your Property Tax Dollars Go 7. County . ............................... 8. Municipality .......... ............................... .00 9A. School District State Determined Levy ..................... .00 9B. School District Voter Approved Levies ..................... .00 9C.Schooi District Other Local Levies ........................ .00 1 OA. Metr000litan Special Taxing Districts ...................... .00 10B.Other Special Taxing Districts .......................... .00 .00 .00 .00 .00 .00 .00 .00 11. Non - School Voter Approved Referenda Levies ............... - 00 nn 12. Property Taxes Before Fees and Special Assessments ........ .00 .00 13. Special Assessments Added to This Property Tax Bill SPECIALS ASSESSMENT PRINCIPAL SPECIALS ASSESSMENT INTEREST 1,152.05 1 1,137.05 1,065.98 767.51 14. TOTAL PROPERTY TAX AND SPECIAL ASSESSMENTS ..... 2, 218.03 1,904.56 Make Check Payable to HENNEPIN COUNTY TREASURER Pay this amount no later than May 15. 1998 ........... 952.28 Pay this amount no later than October 15. 1998......... 952.28 DETACH PAYMENT STUB HERE BEFORE MAILING --------------------------------------------------------------------------------------------------- THIS STUB MUST ACCOMPANY SECOND HALF PAYMENT. Pay on or before October 15. 1998 to avoid penalty. Please read reverse side of payment information. TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 DELQ PROPERTY IDENTIFICATION 30- 117 -21 23 0001 2 ND HALF PAY STUB 1998 MUNIC MTG CODE LOAN NO. 24 PROPERTY ADDRESS 24 ADDRESS UNASSIGNED SECOND HALF TAX 211173023000100000000000009522821117302300019 MSA § 307.09, Exemptions *48179 M.S.A. § 307.09 MINNESOTA STATUTES ANNOTATED CORPORATIONS CHAPTER 307. PRIVATE CEMETERIES Current through End of 1996 Reg. Sess. 307.09. Exemptions Subdivision 1. All lands, not exceeding 100 acres in extent, and in the case of cemeteries owned and managed by religious corporations, or corporations solely owned and controlled by and in the interest of any religious denomination, 300 acres in extent, so laid out and dedicated as a private cemetery, shall be exempt from public taxes and assessments, and shall not be liable to levy and sale on execution, or to be applied in payment of the debts of any owner thereof, so long as the same remains appropriated to the use of a cemetery; and no road or street shall be laid through the same without the consent of the owners. .Subd. 2. Nothing. contained in subdivision 1 shall be construed to exempt cemetery property owned or leased by any corporation, association, partnership, proprietorship or any other organization from any special assessment unless such corporation, association, partnership, proprietorship or other organization. (a) was formed for a purpose not involving pecuniary gain to its shareholders or members; and (b) pays no dividends or other pecuniary remuneration directly or indirectly to its shareholders or members as such. CREDIT(S) 1985 Main Volume Amended by Laws 1969, c. 980, § 2, eff. June 7, 1969. Page 1 <General Materials (GM) - References, Annotations, or Tables> HISTORICAL NOTES HISTORICAL AND STATUTORY NOTES 1985 Main Volume Derivation: St.1927, § 7633. Laws 1927, c. 295, § 3. Gen.SL1923, § 7633. Gen.St.1913, § 6323. Laws 1913, c. 137, § 1. Rev.Laws 1905, § 2965. Gen.St.1894, § 3134. Gen.St.1878, c. 34, § 265. Gen.St.1866, c. 34, § 115. Laws 1862, Ex.Sess., c. 12, § 1, part. Laws 1913, c. 137, § 1 changed the amount of acreage from 80 to 100 acres. Laws 1927, c. 295, § 3 added the reference to religious corporations. The 1969 amendment added the provisions of subd. 2. Constitutional Provisions Const. Art. 10, § 1, provides, in part: "The power of taxation shall never be surrendered, suspended or contracted away. Taxes shall be uniform upon the same class of subjects and shall be levied and collected for public purposes, but public burying grounds • ' • shall be exempt from taxation except as provided in this section." *48180 ANNOTATIONS NOTES OF DECISIONS In general 1 Constitutional rights 2 Construction with other laws 3 Determination of exemption 4 Local improvements 5 Private cemeteries 6 Profit operations 7 Religious corporations 8 1. In general Exemption granted by section 307.01 was not applicable to mere graves, and historical site where Indians massacred 21 Frenchmen was not exempt from ad valorem taxation. Copyright (c) West Group 1997 No claim to original U.S. Govt. works u41uJ.9s 14::13 F.3 % 8271 7645 , city of Edina 4801 West 50th Street EQina, MN. 55424-1394 Phone: (612) 826 -0365 F= (512) 82"390 [TDD (Deaf Only): (612) 826-03791 Board of Review Residential Application CITY OF EDIIrA 1003 Assessor's Office P.I.D. 3D Date Returned: - le - Time: Received By: can Lo :Fcc:offi : tstebni Application Date: AAril 0 1998 Attach anX supporting documentation Owner Name: Grand -view Park Cemetery Owner Address: 5901 Malonev Avenue, Hopkins, MN 55343 -8475 Home Phone Number. N/A Business Phone Number. 938 -1135 Prnoerty Address: 6707 Maloney Avenue Assessors estimated market value for January 2, 1998: Banc: 3uildiilgs: Taal: $123,400 I believe the estlmatad market value on January 2, IM should be: Land- Buildings: Total: Exempt S0.00 Purchase Date: 1866 !Total ourchase price (land & bldgs.): Unknown i Year twit House: N/A Garage: N/A Additions (E=Ialn): N/A Conditian of Structures Explain): N/A Cescription & value of additions and improvements since your purchase of this property: N/A to t3s�siotsa3' Waists- . .. �'� '� P9ease�attac7� i #:oep ?of gin reoerri•a sisals': ::...• •.. :: :; .: • :.:::;::;:• •:,; :.•::. .. ... Aooraisal Date: N/A Indicated Value: N/A Ex lain•tt+�:�odrsfuc. ovr.obleetiogaatFls: assessor' s: esiiiaafed: aiar3�etiratcez-< � ::::: ::.::.:.;.. :::.: <.:::::;:.::... The subject property is a cemetery and has always been exempt from taxation pursuant to MSA 307.09 (attached hereto), There has been no changes in the use of the property and the proposed Assessor's Market value Subject to Taxation is unlawful. I respectfully request that the exempt status of the subject i 7 property be reinstated. 1 1 DO HERESY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY iKNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL V41LL SUPPORT YOUR CASE. YOU WILL BE CONTACTED Tv^ HAVE YOUR PROPERTY REVIE1NED PRIOR TO THE SCHEDULED BOARD OF REVIE`N MEETING. _L v CITY OF EDINA 4801 WEST 50TH STREET EDINA, MN 55424 -1394 TELEPHONE: 612-826-0365 TDD: 612- 826 -0379 PROPERTY ID: 30- 117 -21 -24 -0002 PROPERTY ADDRESS: PROPERTY VALUE FOR 1998 VALUE NOTICE JANUARY 2, 1998 CLASSIFICATION: RESIDENTAL LAND NON HOMESTEAD PAYABLE 1999 THIS NOTICE CONTAINS YOUR 1998 CLASSIFICATION AND VALUATION FOR TAXES PAYABLE IN 1999. IF YOU BELIEVE THE MARKET VALUE OR CLASSIFICATION OF THIS PROPERTY HAS BEEN DETERMINED INCORRECTLY, YOU HAVE THE RIGHT TO MAKE AN APPEAL PLEASE CONTACT THE EDINA ASSESSOR'S OFFICE (612 - 826-0365) AS SOON AS POSSIBLE TO REVIEW ANY DATA SUPPORTING YOUR POSITION. THE CITY OF EDINA BOARD OF REVIEW IS SCHEDULED TO MEET, MONDAY APRIL 13,1998, AT 5:00 PM IN THE CITY HALL COUNCIL CHAMBERS. APPLICATIONS TO APPEAR BEFORE THE BOARD MUST BE RECEIVED NO LATER THAN, APRIL 6, 1998. TO: GRANDVIEW CEMETERY 6901 MALONEY AVE EDINA, MN 55343 CLASSIFICATION IS BASED ON THE USE OF THE PROPERTY AND IS DEFINED BY STATE STATUTES. ESTI)VIATED NIARKET VALUE IS THE MOST PROBABLE PRICE THAT A WELL INFORMED BUYER WOULD PAY A WELL INFORMED SELLER FOR .A PROPERTY WITHOUT EITHER PARTY BEING L WDUL.Y FORCED TO BUY OR SELL THE VALUE OF YOUR PROPERTY IS BASED ON REPORTED AND RECORDED MARKET DATA COLLECTED OVER THE PAST YEAR. LIMITED NIARA'ET VALUE IS THE TAXABLE VALUE FOR RESIDEN71AI , ,AGRICULTURAL OR NON -COMMERCIAL SEASONAL RECREATIONAL PROPERTIES (HOMESTEAD OR NON-HOMESTEAD). THE PROPERTY'S TAXABLE VALUE INCREASE MUST NOT EXCEED (1) 10% OF THE PREVIOUS YEAR'S TAXABLE VALLE. OR (2)1/4/ OF THE DIFFERENCE BETWEEN THE CURRENT YEAR'S MARKET VALUE AND THE PREVIOUS YEAR'S TAXABLE VALUE, WHICHEVER IS GREATER EXCLUDING IMPROVEMENT'S. QUALIFYING IMPROVEMENT VALUE IS THE AMOUNT OF 1110PROVEMENT VALUE EXCLUDED FROM TAXATION ON HOMESTEADED PROPERTIES THAT ARE 35 YEARS OF AGE OR OLDER AND HAVE A MARKET VALUE OF NOT MORE THAT 5150.000. THIS AMOUNT MAY BE EXCLUDE FOR TEN YEARS. AFTER THE BASE QUALIFYING PERIOD. THIS AMOUNT IS PHASED BACK INTO THE TAXABLE VALUE AT 20% EACH YEAR FOR FIVE YEARS. IF THE PROPERTY IS SOLD OR BECOMES NON - HOMESTEADED. THE EXCLUDED VALUE BECOMES TAXABLE FOR THE FOLLOWING ASSESSMENT YEAR. PLEASE CONTACT YOUR LOCAL ASSESSOR FOR MORE INFORMATION AND RESTRICTIONS. BOARDS OF EQUALIZATION YOU MAY ,APPEAL DECISIONS OF THE LOCAL BOARD OF REVIEW TO THE COUNTY BOARD OF EQUALIZATION. YOU MAY NOT APPEAR DIRECTLY AT THE COUNTY BOARD OF EQUALIZATION WITHOLIT FIRST APPEARING AT THE LOCAL BOARD. THE 1998 COUNTY BOARD OF EQUALIZATION WILL BEGIN MEETLNG ON JUNE 15, 1998. YOU MUST CALL 348 -5076 FOR AN APPO BEFORE JUNE 8. 1998. STATE TAX COURT STATE LAW ALSO PROVIDES THAT ,A PROPERTY OWNER C aN .APPEAL TO THE MWNESOTA TAX COURT. FOR INFORMATION ON THE TAX CONTACT THE TAX COURT OFFICE. 520 LAFAYETTE ROAD. 2ND FLOOR ST PAUL MN 55155. TELEPHONE NO 296 -2806. nr.m4r-rm touuNl r TAXPAYER'S COPY 1998 PROPERTY TAX STATEMENT Hennepin County Treasurer STATE COPY A -600 Government Center HC 1330 Minneapolis, MN 55487 -0060 Use this copy to claim Property Tax Refunds. Read back for information on eligibility and how to obtain Office Hours 8:00 to 4:30 Monday - Friday forms. File by August 15th. Phone 612 - 348 -3011 TAMYER OR AGENT Hearing Impaired with TDD Equipment 612 - 348 -346; i i IIIIIIIItI111I I11IIIIIIIIIIIIIIIIIIIIIIIIII t It Ill IIIIIII tll I I GRAND -VIEW PARK CEMETERY ; 6901 MALONEY AVE ; HOPKINS MN 55343 -8475 OWNER ; GRAND -VIEW PARK CEMETERY PROPERTY IDENTIFICATION NO. MUNIC 30- 117 -21 24 0002 24 Use these amounts when filling out Form M -1 PR to see if you are eligible for one or both of the refunds available. Line 1: .00 Lire 2: .00 Lne 6: .00 ; i i Taxes Payable in 1997 1 Taxes Payable in 1998 Property Class(es): RES NHSTD I RES NHSTD ' i i i New Improvements: Estimated Market Value: ; EXEMPT I EXEMPT Taxable Market Value: EXEMPT I EXEMPT I , TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 OWNER GRAND -VIEW PARK CEMETERY PROPERTY IDENTIFICATION NO. 30- 117 -21 24 0002 SCHOOL WATER SEWER MUNIC DISTRICT SHED DISTRICT 24 270 1 PROPERTY ADDRESS 6707 MALONEY AVE ADDITION UNPLATTED 30 117 21 LOT BLOCK COM ON N LINE OF S 182 OF NW 184 AT MTG CODE LOAN NO. r— If this box is checked you owe delinquent taxes and If this box is checked you owe delinquent taxes an X may not apply for the Property Tax Refund. a may not apply for the Property Tax Refund. Contact our office for the amount due. Contact our office for the amount due. DETACH PAYMENT STUB ; HERE BEFORE MAILING J------------------------------------------ - - - - -" THIS STUB MUST ACCOMPANY FIRST HALF PAYMENT. Pay on or before May 15, 1998 to avoid penalty. i ST HALF Please read reverse side of payment information. 1 PAY STUB 1998 ?AXPAYER OR AGENT MUNIC MTG CODE LOAN NO. GRAND -VIEW PARK CEMETERY 24 6901 MALONEY AVE HOPKINS MN 55343 -8475 PROPERTY ADDRESS 6707 MALONEY AVE r— if name and/or address as shown above are of correct, check box and make correction on pack of this form DELQ PROPERTY IDENTIFICATION NO. FULL TAX FOR YEAR FIRST HALF TAX 30- 117 -21 24 0002 1,904.56 1 952.28 I 21117302400020. 0019045600009522821117302400021 .-..._& ... v V v. a A . 1998 PROPERTY TAX STATEMENT PROPERTYID No. 30- 117 -21 24 0002 rLCAJC MCAU CALK UP rUHM rUH PENALTY, PAYMENT AND ESCROW INFORMATION Property Class(es): ......... RES NHSTD New Improvements: 0 Estimated Market Value:........... EXEMPT Taxable Market Value: ............. EXEMPT 1. Use this amount on Form M -1 PR to see if you're eligible for a property tax refund .................................................... 2. Use this amount for the special property tax refund on schedule 1 of Form M1PR .............................. .00 1 Your Property Tax and How It Is Reduced By The State RES NHSTD 0 EXEMPT EXEMPT .00 3. Property tax before reduction by state paid aids and credits .. 00 4. Aid paid by the state of Minnesota to reduce your property tax .. , 0 0 . 00 5. Credits paid by the state of Minnesota to reduce your property tax: .00 a. Education homestead credit .......................... b. Other credits .................. .00 . 0 0 6. Property tax after reduction by state paid aids and credits ...... .00 tr?r .0 0 Where Your Property Tax Dollars Go 7. County ............................ S. Municipality ........ ............................... .00 9A. School District State Determined Levy ..................... .00 9B. School District Voter Approved Levies ..................... .00 9C. School District Other Local Levies ........................ .00 1 OA. Metropolitan Special Taxing Districts ...................... . 00 1 OB. Other Special Taxing Districts .......................... .00 .00 .00 .00 .00 .00 .00 .00 11. Non - School Voter Approved Referenda Levies ............... 0 0 I nn 12. Property Taxes Before Fees and Special Assessments ........ .00 . 0 0 13. Special Assessments Added to This Property Tax Bill SPECIALS ASSESSMENT PRINCIPAL SPECIALS ASSESSMENT INTEREST 1,152.05 1,137.05 1,065.98 767.51 14. TOTAL PROPERTY TAX AND SPECIAL ASSESSMENTS ..... 2,218.03 Make Check Payable to HENNEPIN COUNTY TREASURER Pay this amount no later than May 15, 1998 ........... 952.28 Pay this amount no later than October 15, 1998......... 952. 28 1,904.56 DETACH PAYMENT STUB HERE BEFORE MAILING --------------------------------------------------------------------------------------------------- THIS STUB MUST ACCOMPANY SECOND HALF PAYMENT. Pay on or before October 15, 1998 to avoid penalty. Please read reverse side of payment information. TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 DELQ 2 ND AYH TUB 1998 MUNIC MTG CODE LOAN NO. 24 PROPERTY ADDRESS 6707 MALONEY AVE 3ROPERTY IDENTIFICATION NO. SECOND HALF TAX 30- 117 -21 24 0002 I 952.28 211173024000200000000000009522821117302400023 MSA § 307.09, Exemptions *48179 M.S.A. § 307.09 MINNESOTA STATUTES ANNOTATED CORPORATIONS CHAPTER 307. PRIVATE CEMETERIES Current through End of 1996 Reg. Sess. 307.09. Exemptions Subdivision 1. All lands, not exceeding 100 acres in extent, and in the case of cemeteries owned and managed by religious corporations, or corporations solely owned and controlled by and in the interest of any religious denomination, 300 acres in extent, so laid out and dedicated as a private cemetery, shall be exempt from public taxes and assessments, and shall not be liable to levy and sale on execution, or to be applied in payment of the debts of any owner thereof, so long as the same remains appropriated to the use of a cemetery; and no road or street shall be laid through the same without the consent of the owners. Subd. 2. Nothing contained in subdivision 1 shall be construed to exempt cemetery property owned or leased by any corporation, association, partnership, proprietorship or any other organization from any special assessment unless such corporation, association, partnership, proprietorship or other organization. (a) was formed for a purpose not involving pecuniary gain to its shareholders or members; and (b) pays no dividends or other pecuniary remuneration directly or indirectly to its shareholders or members as such. CREDIT(S) 1985 Main Volume Amended by Laws 1969, c. 980. § 2, eff. June 7, 1969 Page 1 <General Materials (GM) - References, Annotations, or Tables> HISTORICAL NOTES HISTORICAL AND STATUTORY NOTES 1985 Main Volume Derivation: St. 1927, § 7633. Laws 1927, c. 295, § 3. Gen.St.1923, § 7633. Gen.St.1913, § 6323. Laws 1913, c. 137, § 1. Rev.Laws 1905, § 2965. Gen.St.1894, § 3134. Gen.St.1878, c. 34, § 265. Gen.St.1866, c. 34, § 115. Laws 1862, Ex.Sess., c. 12, § 1, part. Laws 1913, c. 137, § 1 changed the amount of acreage from 80 to 100 acres. Laws 1927, c. 295, § 3 added the reference to religious corporations. The 1969 amendment added the provisions of subd. 2. Constitutional Provisions Const. Art. 10, § 1, provides, in part: "The power of taxation shall never be surrendered, suspended or contracted away. Taxes shall be uniform upon the same class of subjects and shall be levied and collected for public purposes, but public burying grounds * * * shall be exempt from taxation except as provided in this section." *48180 ANNOTATIONS NOTES OF DECISIONS In general 1 Constitutional rights 2 Construction with other laws 3 Determination of exemption 4 Local improvements 5 Private cemeteries 6 Profit operations 7 Religious corporations 8 1. In general Exemption granted by section 307.01 was not applicable to mere graves, and historical site where Indians massacred 21 Frenchmen was not exempt from ad valorem taxation. Copyright (c) West Group 1997 No claim to original U.S. Govt. works U4/03,93 14:33 FAI 92; 76AS CITY OF EDINA 91003 City of Edina Assessor's office 4801 West 50th Street Edina, MN. SU241394 Phone: (812) 628 -0365 I= (812) 826 -0390 [TDD (Deaf Only): (612) 82003791 Board of Review Residential Application P.I.D. d Date Retumed: L - Co - Q Time: Received By: can 0 CEtijR' Application Date: April 6 1998 Attach any suppardnq documentation Owner Name: Grand -view park Cemetery Cm; erAddresa: 6901 Maloney Avenue, Hopkins, MN 55343 -8475 Horne Phone Nr:mCer. N/A Susiness Phone Number. 938 -1135 Pnoerty.Address: 6901 Maloney Avenue Assessor's estmated market value for January 2, 1998: Suildings: Total: $509,400 1 believe the estimated market value on January 2,1998 should be: Land* Butldin s: Total: Exempt S0.00 Purc^ase Date: 1866 Total ourchase price (land & bldgs.): Unknown Year Built "ousw. N/A Garage: N/A Additions (E=ialn): N/A Condition of Stru=es lainl: N/A Cescr#cn & value of additions and impr>ovemerrts satire your purchase of this property: N/A t essrc .. st:..•::.;.; •: Pfease:attacF�' it:cep :nf $e .•re�izrri:a ' iaisais . -.. .? of Aoamisal Date: `1 /A Indicated Value: N/A E:cplaintti :neasoat}sfvc. aur. oiKeetion: t' atfis:assessor's:esiiniated�iar etwaiiier «:::: :: < ............::. I The s::b4ect property is a cemetery and has always been exempt from taxation { pursuant to :ISA 307.09 ( attached hereto), j There ':as been no changes in the use of the property and the proposed Assessor's, Market value subject to Taxation is unlawful. � T_ respectfully request that the exempt status of the subject property be reinstated. i I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS CO PLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF ! Signature of a oiicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICl SY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YCUR CASE. YOU WILL SE CONTACTED TO Y.A.'E YC'_R PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIE'N MEETIING. CITY OF EDINA 4801 WEST 50TH STREET EDINA, MN 55424 -1394 TELEPHONE: 612-826-0365 TDD: 612- 826 -0379 VALUE NOTICE JANUARY 2, 1998 PROPERTY ID: 30- 117 -21 -23 -0002 CLASSIFICATION: RESIDENTAL PROPERTY ADDRESS: 6901MALONEY AVE NON HOMESTEAD PROPERTY VALUE FOR 1998 PAYABLE 1999 THIS NOTICE CONTAINS YOUR 1998 CLASSIFICATION AND VALUATION FOR TAXES PAYABLE IN 1999. IF YOU BELIEVE THE MARKET VALUE OR CLASSIFICATION OF THIS PROPERTY HAS BEEN DETERMINED INCORRECTLY, YOU HAVE THE RIGHT TO MAKE AN APPEAL PLEASE CONTACT THE EDINA ASSESSOR'S OFFICE (612526-0365) AS SOON AS POSSIBLE TO REVIEW ANY DATA SUPPORTING YOUR POSITION THE CITY OF EDINA BOARD OF REVIEW IS SCHEDULED TO MEET, MONDAY APRIL 13, 1998, AT 5:00 PM IN THE CITY HALL COUNCIL CHAMBERS. APPLICATIONS TO APPEAR BEFORE THE BOARD MUST BE RECEIVED NO LATER THAN, APRIL 6, 1998. TO: GRANDVIEW CEMETERY 6901 MALONEY AVE EDINA, MN 55343 CT.A.S.SIFICATION IS BASED ON THE USE OF THE PROPERTY AND IS DEFINED BY STATE STATUTES. ESTIMATED MARKET VALUE IS THE MOST PROBABLE PRICE THAT A WELL L`TORMED BUYER WOULD PAY A WELL INFORMED SELLER FOR A PROPERTY WITHOUT EITHER PARTY BEING UNDULY FORCED TO BUY OR SELL THE VALUE OF YOUR PROPERTY IS BASED ON REPORTED AND RECORDED MARKET DATA COLLECTED OVER THE PAST YEAR. LLNUTED NI4RIaT VALUE IS THE TAXABLE VALUE FOR RESMENTAI, AGRICULTLRAL OR NON- CON[MERCIAL SEASONAL RECREATIONAL PROPERTIES (HOMESTEAD OR NON - HOMESTEAD). THE PROPERTY'S T.aXABLE VALUE INCREASE MUST NOT EXCEED (1) 10% OF THE PREVIOUS YEAR'S TAXABLE VALUE. OR (2)1/41 OF THE DIFFERENCE BETWEEN THE CURRENT YEAR'S MARKET VALUE AND THE PREVIOUS YEAR'S TAXABLE VALUE. WHICHEVER IS GREATER EXCLUDING IMPROVEMENTS. QUALIFYING IMPROVEMENT VALUE IS THE AMOUNT OF IMPROVEMENT VALUE EXCLUDED FROM TAXATION ON HOMESTEADED PROPERTIES THAT ARE 35 YEARS OF AGE OR OLDER AND HAVE A MARKET VALUE OF NOT MORE THAT SI50,000. THIS AMOUNT MAY BE EXCLUDE FOR TEN YEARS. AFTER THE BASE QUALIFYING PERIOD. THIS AbIOUNT IS PHASED BACK INTO THE TAXABLE VALUE AT 20116 EACH YEAR FOR FIVE YEARS. IF THE PROPERTY IS SOLD OR BECOMES NON - HOMESTEADED. THE EYCLU'DED VALUE BECOMES TAXABLE FOR THE FOLLOWING ASSESSMENT YEAR PLEASE CONTACT YOUR LOCAL ASSESSOR FOR MIORE INFORMATION AND RESTRICTIONS. BOARDS OF EQUALIZATION YOU MAY APPEAL DECISIONS OF THE LOCAL BOARD OF REVIEW TO THE COUNTY BOARD OF EQUALIZATION. YOU MAY NOT ,APPEAR DIRECTLY AT THE COUNTY BOARD OF EQUALIZATION WTITIOUT FIRST APPEARING AT THE LOCAL BOARD. THE 1998 COUNTY BOARD OF EQUALIZATION WILL BEGIN MEETING ON JUNE 15. 1998. YOU MUST CALL 348 -5076 FOR AN APPOINTMENT BEFORE JUNE 8. 1998. STATE TAX COURT STATE LAW ALSO PROVIDES THAT A PROPERTY OWNER CAN APPEAL TO THE MINNESOTA TAX COURT. FOR INFORMATION ON THE TAX CONTACT THE TAX COURT OFFICE. 520 LAFAYE17E ROAD. 2'`D FLOOR. ST PAUL MIN 55155. TELEPHONE NO 296 -2806. Iojo rnurCnI l IAA 0INI CIVICIII QC Hennepin County Treasurer HC STATE COPY A -600 Government Center Use t Use this copy to claim Proper Tax Refunds. Read Minneapolis, MN 55487 -0060 back for information on eligibili y and how to obtain Office Hours 8:00 to 4:30 Monday - Friday forms. File by August 15th. Phone 612 - 348 -3011 TAXPAYER OR AGENT Hearing Impaired with TDD Equipment 612 -348 -346 i ' IIIIIIIIIIIIIIIIIIIIII�IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 'IIIIII ; GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE ; HOPKINS MN 55343 -8475 ; OWNER GRAND -VIEW PARK CEMETERY PROPERTY IDENTIFICATION NO. MUNIC 30- 117 -21 23 0002 24 Use these amounts when filling out Form M -1 PR to see if you are eligible for one or both of the refunds available. Line 1: .00 Line 2: .00 Line 6: .00 i Taxes Payable in 1997 1 Taxes Payable in 1998 Property Class(es): ; RES NHSTD RES NHSTD New Improvements: Estimated Market Value: EXEMPT I EXEMPT Taxable Market Value: ; EXEMPT j EXEMPT TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 OWNER GRAND -VIEW PARK CEMETERY PROPERTY IDENTIFICATION NO. 30- 117 -21 23 0002 SCHOOL WATER SEWER MUNIC DISTRICT SHED DISTRICT 24 270 PROPERTY ADDRESS 6901 MALONEY AVE ADDITION UNPLATTED 30 117 21 LOT BLOCK THAT PART OF THE N 182 OF S 1 &2 OF MTG CODE LOAN NO. EIf this box is checked you owe delinquent taxes and If this box is checked you owe delinquent taxes ar may not apply for the Property Tax Refund. X❑ may not apply for the Property Tax Refuna. Contact our office for the amount due. Contact our office for the amount due. DETACH PAYMENT STUB ; HERE BEFORE MAILING --------------------------------------------------- J----- ------------------ ------ - - -- -- THIS STUB MUST ACCOMPANY FIRST HALF PAYMENT. Pay on or before May 15. 1998 to avoid penalty. ST HALF Please read reverse side of payment information. 1 PAY STUB 1998 TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 ❑If name and/or address as shown above are not correct, check box and make correction on back of this form DELQ MUNIC MTG CODE LOAN NO. 24 PROPERTY ADDRESS 6901 MALONEY AVE HHUF F-HTY IDENTIFICATION NO. i FULL TAX FOR YEAR FIRST HALF TAX 30- 117 -21 23 0002 1 1,904.56 952,28 211173023000200019045600009522821117302300024 HENNEPIN COUNTY PLEASE READ BACK OF FORM FOR 1998 PROPERTY TAX STATEMENT PENALTY, PAYMENT AND ESCROW INFORMATION PROPERTY ID NO. 30-117-21 23 0002 Payable in 1997 Payable in 1 998 Property Class(es):....... . •RES NHSTD RES NHSTD New Improvements: ............. 0 Estimated Market Value:........... 0 Taxable Market Value: ............. EXEMPT I EXEMPT 1. Use this amount on Form M -1 PR to see if you're eligible EXEMPT EXEMPT for a property tax refund ..................... ............................... . 0 0 2. Use this amount for the special property tax refund on schedule 1 of Form M1PR .............................. .00 Your Property Tax and How It Is Reduced By The State 3. Prooerty tax before reduction by state paid aids and credits .... 4. Aid paid by the state of Minnesota to reduce your property tax .. . 00 . 00 S. Credits paid by the state of Minnesota to reduce your property tax: . 00 . 00 a. Education homestead credit .......................... b. Other credits .................. .00 . 0 0 S. Property tax after reduction by state paid aids and credits ...... .00 _ 0 0 .00 . 0 0 Where Your Property Tax Dollars Go 7. County ............................................ 8. Municipality .......... ............................... 9A. School District State Determined Levy ..................... 98. School District Voter Approved Levies ..................... 9C. School District Other Local Levies ........................ 10A. Metropolitan Special Taxing Districts ...................... 1 OB. Other Special Taxing Districts .......................... 11. Non - School Voter Approved Referenda Levies ............... 12. Property Taxes Before Fees and Special Assessments ........ 13. Special Assessments Added to This Property Tax Bill SPECIALS ASSESSMENT PRINCIPAL SPECIALS ASSESSMENT INTEREST .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 an nn .00 :00 1,152.05 1,137.05 1,065.98 767.51 14. TOTAL PROPERTY TAX AND SPECIAL ASSESSMENTS ..... 2,218.03 1 , 9 0 4 . 5 6 Make Check Payable to HENNEPIN COUNTY TREASURER Pay this amount no later than May 15. 1998 ........... 952.28 Pay this amount no later than October 15, 1998......... 952.28 DETACH PAYMENT STUB HERE BEFORE MAILING --------------------------------------------------------------------------------------------------- THIS STUB MUST ACCOMPANY SECOND HALF PAYMENT. Pay on or before October 15, 1998 to avoid penalty. Please read reverse side of payment information. TAXPAYER OR AGENT GRAND -VIEW PARK CEMETERY 6901 MALONEY AVE HOPKINS MN 55343 -8475 DELQ NO. 30- 117 -21 23 OOi 2 ND AYH TUB 1998 MUNIC MTG CCDE LOAN NO. 24 PROPERTY ADDRESS 6901 MALONEY AVE SECOND HALF 211173023000200000000000009522821117302300026 MSA § 307.09, Exemptions *48179 M.S.A. § 307.09 MINNESOTA STATUTES ANNOTATED CORPORATIONS CHAPTER 307. PRIVATE CEMETERIES Current through End of 1996 Reg. Sess. 307.09. Exemptions Subdivision 1. All lands, not exceeding 100 acres in extent, and in the case of cemeteries owned and managed by religious corporations, or corporations solely owned and controlled by and in the interest of any religious denomination, 300 acres in extent, so laid out and dedicated as a private cemetery, shall be exempt from public taxes and assessments, and shall not be liable to levy and sale on execution, or to be applied in payment of the debts of any owner thereof, so long as the same remains appropriated to the use of a cemetery; and no road or street shall be laid through the same without the consent of the owners. Subd. 2. Nothing contained in subdivision 1 shall be construed to exempt cemetery property owned or leased by any corporation, association, partnership, proprietorship or any other organization from any special assessment unless such corporation, association, partnership, proprietorship or other organization. (a) was formed for a purpose not involving pecuniary gain to its shareholders or members; and (b) pays no dividends or other pecuniary remuneration directly or indirectly to its shareholders or members as such. CREDIT(S) 1985 Main Volume Amended by Laws 1969, c. 980, § 2, eff. June 7, 1969. Page I <General Materials (GM) - References, Annotations, or Tables> HISTORICAL NOTES HISTORICAL AND STATUTORY NOTES 1985 Main Volume Derivation: SL 1927, § 7633. Laws 1927, c. 295, § 3. Gen.St.1923, § 7633. Gen.St.1913, § 6323. Laws 1913, c. 137, § 1. Rev.Laws 1905, § 2965. Gen.St.1894, § 3134. Gen.St.1878, c. 34, § 265. Gen.St.1866, c. 34, § 115. Laws 1862, Ex.Sess., c. 12, § 1, part. Laws 1913, c. 137, § 1 changed the amount of acreage from 80 to 100 acres. Laws 1927, c. 295, § 3 added the reference to religious corporations. The 1969 amendment added the provisions of subd. 2. Constitutional Provisions Const. Art. 10, § 1, provides, in part: "The power of taxation shall never be surrendered, suspended or contracted away. Taxes shall be uniform upon the same class of subjects and shall be levied and collected for public purposes, but public burying grounds * * * shall be exempt from taxation except as provided in this section." *48180 ANNOTATIONS NOTES OF DECISIONS In general 1 Constitutional rights 2 Construction with other laws 3 Determination of exemption 4 Local improvements 5 Private cemeteries 6 Profit operations 7 Religious corporations 8 1. In general Exemption granted by section 307.01 was not applicable to mere graves, and historical site where Indians massacred 21 Frenchmen was not exempt from ad valorem taxation. Copyright (c) West Group 1997 No claim to original U.S. Govt. works oes��`, November 14. 1997 City of Edina Re: Statement of Exemption 1998 Assessment Dear Propem, Owner: Minnesota State Law, M.S. Section 272.025, requires that a Application for Exemption be filed on certain properties exempt from the general property tax. Enclosed is a Commissioner of Revenue Form CREX97.DOC (PE 75), Application for Property Tax Exemption, for each parcel you own that may require this form to be filed. Application for Exemption are not required for exempt parcels owned by the State of Minnesota or any political subdivision of government. However, to be exempt from taxation, parcels held by the State of Minnesota or any political subdivision must qualify for exempt status under M. S. Section 21 -.02. Church organizations and other institutions are not required to file a Application for Exemption for a parcel used exclusively as a church or house of worship. Also, academies, colleges, universities, or seminaries of learning are not required to file on any parcel used exclusively for educational purposes. However, to aid in identifying all exempt parcels in the City of Edina. please return a Application for Property Tax Exemption for each parcel that you own even if it is not required. For instance, if the parcel is used solely as a house of worship, you «-ould just write "House of Worship " on the form as the parcel's primary use and sign the form before returning it. Applications for Exemption must be filed by the owner of exempt properties such as parsonages or rectories. convents, private schools, bookstores, publishing houses, nursing homes, hospitals, offices. parking lots, vacant land, cemeteries, charities, and other miscellaneous exempt property. If a single parcel contains a house of worship and another use such as a convent or parsonage, then a Application for Exemption must be filed for the parcel. The law automatically extends this exemption for the next three years, and you will not have to file again until the 2001 Assessment unless part of the parcel loses its exemption and becomes taxable. In this case, the parcel is to be reviewed. and a new Application for Exemption is required. In order to receive exempt status, the parcel must be used solely for the specified or dedicated purposes for which the institution or organization received its charter. This means that if the land, its improvements, or any part thereof are not used in accordance with specified purposes, the exemption is to be reviewed, and the ineligible parcel or portion thereof is to be assessed. Please refer to question No. 3 describing any additional uses of the parcel. Examples: Leases to private, for- profit day care companies, leases of parking areas to other users, or any agreements that permit partial or full use of the parcel to organizations or individuals who are not the owners of the parcel and are not the original recipients of the tax exempt classification. In these cases, City Hall (612) 927 -8861 4801 %VEST 50TH STREET FAX h!_ 92'- 7r,.:; EDINA. MINNESOTA 5542= ?4 TDD 6 i '. 927-5461 please attach full copies of all leases and agreements, including but not limited to a description of the space leased, the times and days it is used, and the amount of rent or other income received. Your Application for Exemption will not be accepted if we have information that other uses exist and the required information is not provided. If you have any questions regarding your filing status, please contact our office at 826 -0365 and we will try to assist you in making that determination. As stated in M.S. Section 272.025, a Application for Exemption shall be filed "On or before February 1 ..." Please return all completed and signed Applications for Property Tax Exemption on or before February 1. 1998. Sincerely, Richard R. Petersburg, SAMA Edina City Assessor Assessing Division City of Edina Attachments NA. ar� (oe� s" City of Edina February 3. 1998 Mr. Ham Lindberr,, 6901 Maloney Avenue Edina. ',IN Re: Completion of Property Tax Exemption Applications for 1998 Assessment Grand View Park Cemetery Dear Mr. Lindberry, On November 14, 1997 applications for Property Tax Exemption for the 1998 Assessment were sent to all property owners with exempt property in the City of Edina. As of this date we have not received your completed applications. Minnesota State Law, M.S. Section 272.025, requires that Applications for Exemption be filed on or before February 1. 1998, on certain properties exempt from the general property tax. You will find enclosed another set of applications. and the original letter that accompanied them, which you are required to fill out. We are supplying these in the event that the first set was lost or misplaced. In addition, please answer the following questions: • How has Grand View Park Cemetery been developed, to that end, since 1970? • How many grave sites have been sold per year since 1970? • How many burials per year have taken place since 1970? • What portion of your residence is currently used for the operation of Grand View Park Cemetery? Please describe in detail. • Who are the current Grand View Park Cemetery Board of Trustee members and what are there addresses'? In an effort to avert past litigation and to maintain your exempt status I highly recommend that you complete the attached applications and return them to me no latter than February 20, 1998. If we do not receive the completed applications it may become necessary to place the property back on the general property tax rolls. Sincerely' V Richard R. Petersburg. SAMA Edina City assessor cc William Effertz Hennepin County Assessors Office City Hall (612) 927 -8861 4801 WEST 50TH STREET EDINA.:MINNESOTA 5 =�= 4.139 FAX 161 2! 92-661 7 - TDD 1612i 92- 3461 tr1A. i o� e • � L City of Edina March 23. 1998 Robert Gisvold 941 Hillwind Road Suite 200 Minneapolis. NfN 55432 Re: Grandview Park Cemetery Dear .%1r. Gisvold. You will find attached to this letter information relating to our decision to make portions of Grandview Park Cemetery taxable for the 1998 Assessment - taxes payable in 1999. Attached - • Map outlining areas to become taxable (areas circled in yellow designate taxable areas). • Spreadsheet detailing 1998 Assessment for Taxes payable in 1999. If you have information which would indicate otherwise (as specified in my letter to Mr. Lindbery on February 3. 1998) please let me know. Please feel free to call at any time. Sincerely. \2c-s, .u..t Richard R. Petersburg, SAMA Edina Citv Assessor City Hall (612) 927 -8861 4801 WEST -H 573 :_ FAX 61 9?7 - -G4i EDINA. N11,N \E_OT;. z:-:_24-;394 TDD (61'i 927 -5461 Appiicaiion for property Tax Exemption Please read The back of th is form before completing Name of organization GRANDVI:-:W PARK. CENIETERY ASSO. Date property acquired Oct.6,1866 Harry Lindbery Parcel ID number Name of representative or owner Title If yes, why is this required? Help Prevent Vandalism and Date of application Harry Lindberg If yes, please give details. President exempt from property tax? D Yes Cl No If no, what is the distance from such property? FEB 1 0 1998 Mailing address 30- 117 -21 -23 -0002 Legal description of property Harry Lindbery UNPLATTED 30 111 21 Grandvie%i Cemetery 0901 Maloney Avenue F THAT PART OF THEN 162 S OF 162 OF Edina, MN 55343 NW 184 CORRESPONDING TO BLKS S 7 AND S INCL ADJ ST AND ALLEYS OF NEALEYS GRAND VIEW REVISED NOW VAC EX WWY 1. lrxemption tom property tax is claimed under the following category: D Academy, college, university or seminary of learning ❑ Public property used exclusively for D Church, church property or house of worship public purposes ❑ Institution of purely public charity D Public school house D Public burying ground ❑ Other(specify) P11RT.TC >, ?TFTr.TZY u runlic hospital The principal use of this property is: Burial of Human Dead Additional uses of this property: (Please give percentage of use.) 4. Are these uses directly related to the mission of the organization? ® Yes ❑ No 5. Is the organization exempt from federal income tax under section 501(c)(3)? .3 Yes D No E. Is any part of this Fop, erty used for commercial p +_roses? ❑ Yes Q. No If yes, please explain 7. Why is ownership of this property necessary? 8. Is any part of this property used for residential purposes? ❑ Yes D No If ves. please comolete the followine: HE 8a. Name of occupant 8b. Nature of serviceiemployment 8c. Full or part time? Harry Lindbery Caretaker Full 8d. Is occupant required to reside on this property as a condition of employment? D Yes 0 No If yes, why is this required? Help Prevent Vandalism and p lotowners find location of graves after hours 8e. Does occupant pay rent, either in cash or as apart of salary? D Yes U No If yes, please give details. 8f. Is this property adjacent to or part of other property owned by this organization and claimed to be exempt from property tax? D Yes Cl No If no, what is the distance from such property? Applying for Exemption from Property Tax Most taxpayers claiming exemption from property tax must file an application for exe=tion with the assessor in the district where the property is located on or before February 1 of the assessment year. For most exempt properties, this application must be refiled every third year after 1983. (No matter what year the taxpayer initially files for exemption, applications will again be due in 1998, 2001, 2004, etc.) Churches, houses of worship, property used solely for educational purposes by academies, colleges, universities or seminaries of learning and property owned by the state of Minnesota or any of its political subdivisions are not required to file. Owners of some types of exempt property may be asked to complete a different application instead of or in addition to this form. In cases of sickness, absence, disability or for other good cause, the assessor may extend the time for filing the statement of exemption for a period not to exceed 60 days. Upon written request by the assessor, taxpayers must make available to the assessor all necessary books and records relating to the ownership or use of property which can help verify whether or not the property qualifies for exemption. Property which is exempt from property tax on January 2 and, due to sale or other reason, loses its exemption prior to July 1 of that year, will be placed on the current assessment rolls for that year. The v aivation will be determined with respect to its value on January 2 of such year. The classification will be based on the use to which the property was put by the purchaser, or in the event the purchaser has not utilized the property by July 1, the intended use of the property, as determined by the county assessor, based upon all relevant facts. Property which is subject to property tax on January 2 that is acquired by a government entity, institution of purely public charity, church or educational institution before July 1 of the year is exempt for that assessment year, if the property is to be used for an exempt purpose. The Minnesota statute that describes the types of property eligible for property tax exemption is M.S. 272.02. The filing requirements can be found in M.S. 272.025. No property will be exempt from taxation under M.S. 272.02 if the tr. Yayrr claiming the exemption knowingly violates any of the provisions of this section. Making false statements on this application is against the law. M.S. 609.41 states that anyone giving false information in order to avoid or reduce their tax obligations is subject to a fine of up to $3000 and/or up to one year in prison. Appiieazion for property Tax Exemption Please recd the back of this form before completing Name of organization GRAITDVI--W PARK CEMETERY ASSO . Date property acquired Oct. 6, 1866 Harry Lindbery Parcel ID number Name of representative or owner Title If yes, why is this required? Help Prevent Vandalism and Date of application Harry Lindbery If yes, please give details. President exempt from property tax? ❑ Yes ❑ No If no, what is the distance from such property? FEB 1 U X998 Mailing address 30- 117 -21 -23 -0001 L.ega idescriptionofproperty Harry Lindbery UNPLATTED 30 117 21 Grandview Cemetery THAT PART OF THE S 152 OF NW 164 6901 venue Maloney Y CORRESPONDING TO SLNS 4 AND 5 NEALEYS GRAND VIEW REVISED NOW VAC Edina, 11N 55343 INCL ADJ 152 OF ST VAC 1. hxempnon trom property taxis ciatmea under tae tonowing category: ❑ Academy, college, university or seminary of learning Q Public property used exclusively for ❑ Church, church property or house of worship public purposes ❑ Institution of purely public charity Q Public school house ❑ Public burying ground Q other (specify) PUBLIC CEMETERY 0 Public hospital 2. The principal use of this property is: Burial of Human Dead 3. Additionai uses of this property: (Please give percentage of use.) 4. Are these uses directiv related to the mission of the organization? ® Yes ❑ No 5. Is the organization exempt from federal income tax under section 501(c)(3)? ® Yes ❑ No 6. Is any pan of this prnperty used for comme -mal r�oses? ❑ Yes ❑- No If yes, please explain. 7. Why is ownership of this property necessary? 8. Is any part of this property used for residential purposes? ❑ Yes ❑ No Tf vPc_ nieace conmiete the followine: 8a. Name of occupant 8b. Nature of serviceiemployment 8c. Full or part time? Harry Lindbery Caretaker Full 8d. Is occupant required to reside on this property as a condition of employment? ❑ Yes ❑ No If yes, why is this required? Help Prevent Vandalism and Help lotoTmers find location of graves after hours 8e. Does occupant pay rent, either in cash or as apart of salary? ❑ Yes ❑ No If yes, please give details. 8f. Is this properry adiacent to or part of other property owned by this organization and claimed to be exempt from property tax? ❑ Yes ❑ No If no, what is the distance from such property? is true and correct to the my knowledge. Daytime phone L'0� 4�77�y� (61 2 ) 938 -1135 Exemption is ❑ approved ❑ deaied for the assessment. I Date I Assessor signs —* c Applying for Exemption from Property Tax Most taxpayers claiming exemption from property tax must file an application for exetnntion with the assessor in the district where the property is located on or before February 1 of the assessment year. For most exempt properties, this application must be refiled every third year after 1983. (No matter what year the taxpayer initially files for exemption, applications will again be due in 1998, 2001, 2004, etc.) Churches, houses of worship, property used solely for educational purposes by academies, colleges, universities or seminaries of learning and property owned by the state of Minnesota or any of its political subdivisions are not required to file. Owners of some types of exempt property may be asked to complete a different application instead of or in addition to this form. In cases of sickness, absence, disability or for other good cause, the assessor may extend the time for filing the statement of exemption for a period not to exceed 60 days. Upon written request by the assessor, taxpayers must make available to the assessor all necessary books and records relating to the ownership or use of property which can help verify whether or not the property qualifies for exemption. Property which is exempt from property tax on January 2 and, due to sale or other reason, loses its exemption prior to July 1 of that year, will be placed on the current assessment rolls for that year. 1 he r aivation will be determined with respect to its value on January 2 of such year. The classification will be based on the use to which the property was put by the purchaser, or in the event the purchaser has not utilized the property by July 1, the intended use of the property, as determined by the county assessor, based upon all relevant facts. Property which is subject to property tax on January 2 that is acquired by a government entity, institution of purely public charity, church or educational institution before July 1 of the year is exempt for that assessment year, if the property is to be used for an exempt purpose. The Minnesota statute that describes the types of property eligible for property tax exemption is M.S. 272.02. The filing requirements can be found in M.S. 272.025. No property will be exempt from taxation under M.S. 272.02 if the r-a Yay claiming the exemption knowingly violates any of the provisions of this section. Making false statements on this application is against the law. M.S. 609.41 states that anyone giving false information in order to avoid or reduce their tax obligations is subject to a fine of up to $3000 and/or up to one year in prison. ' cs�stcoc Applikaiion for Property Tax Exemption Please read the back of this form before completing Name of organization GRANDVIEW °ARK. CE11ETURY ASSO . I Date propeny acquired Oct . 6 , 1366 8c. Full or part time? Parcei M number Name of representative or owner Title 8d. Is occupant required to reside on this property as a condition of employment? M Yes ❑ No Date of application Harry Lindbery President If yes, please give details. 7'L i exempt from property tax? ❑ Yes ❑ No If no, what is the distance from such property? U Q i..98 Mailing address 30- 117 -21 -24 -0002 Legai description of �e�IA"w property Harry Lindbery ee ", e1 -Li. .. 1Q W . 1M eT Grandview Cemetery • n me m w .s n . eeve ee to nn¢° Te e w [euee n ro rn 6901 11aloney Avenue To cre uQ ° owo rta •re tx �'Q °°"" oar GTI LIe! D1 WD AV! TD TK Edina, I•IN 55343 LIN ["[`Q°°'"D DAWTQNU rQ DID Lle[ ° WD •" TO " LLe[ ° [ 1[t M Tx [ TO QD i. nxempuon from property tax is ciaimea unaer tae tonownng category ❑ Acade:iiy, college, university or seminary of learning 0 Public property used exclusively for Cl Church, church property or house of worship public purposes Cl Institution of purely public charity 0 Public school house 0 Public burying ground Cl Other (specify) Cemetery 0 Public hospital 2. The principal use of this property is: Burial of Human Dead 3. Additional uses of this property: (Please give percentage of use. 4. Are these uses directly related to the mission of the organization? to Yes ❑ No 5.. Is the organization exempt from federal income tax under section 501(c)(3)? M Yes ❑ No Is any part of this property used for commercial purposes? ❑ Yes If yes, please explain. is ownership of this property necessary? 8. Is any part of this property used for residential purposes? Cl Yes ❑ No If ves, please complete the following: 8a. Name of occupant 8b. Nature of seivicetemployment 8c. Full or part time? Harry Lindbery Caretaker Full 8d. Is occupant required to reside on this property as a condition of employment? M Yes ❑ No If yes, why is this required? Prevent Vandalism Help lot owners find location of graves after hours 8e. Does occupant pay rent, either in cash or as a part of salary? ❑ Yes ❑ No If yes, please give details. 8f. Is this property adjacent to or part of other property owned by this organization and claimed to be exempt from property tax? ❑ Yes ❑ No If no, what is the distance from such property? Applying for Exemption from Property Tax Most taxpayers claiming exemption from property tax must file an application for exemption with the assessor in the district where the property is located on or before February 1 of the assessment year. For most exempt properties, this application must be refiled every third year after 1983. (No matter what year the taxpayer initially files for exemption, applications will again be due in 1998, 2001, 2004, etc.) Churches, houses of worship, property used solely for educational purposes by academies, colleges, universities or seminaries of learning and property owned by the state of Minnesota or any of its political subdivisions are not required to file. Owners of some types of exempt property may be asked to complete a different application instead of or in addition to this form. In cases of sickness, absence, disability or for other good cause, the assessor may extend the time for filing the statement of exemption for a period not to exceed 60 days. Upon written request by the assessor, taxpayers must make available to the assessor all necessary books and records relating to the ownership or use of property which can help verify whether or not the property qualifies for exemption. Property which is exempt from property tax on January 2 and, due to sale or other reason, loses its exemption prior to July 1 of that year, will be placed on the current assessment rolls for that year. lire valuation will be determined with respect to its value on January 2 of such year. The classification will be based on the use to which the property was put by the purchaser, or in the event the purchaser has not utilized the property by July 1, the intended use of the property, as determined by the county assessor, based upon all relevant facts. Property which is subject to property tax on January 2 that is acquired by a government entity, institution of purely public charity, church or educational institution before July 1 of the year is exempt for that assessment year, if the property is to be used for an exempt purpose. The Minnesota statute that describes the types of property eligible for property tax exemption is M.S. 272.02. The filing requirements can be found in M.S. 272.025. No property will be exempt from taxation under M.S. 272.02 if the t--%-,. claiming the exemption knowingly violates any of the provisions of this section. Making false statements on this application is against the law. M.S. 609.41 states that anyone giving false information in order to avoid or reduce their tax obligations is subject to a fine of up to 53000 and/or up to one year in prison. 1r v _ Q^ - n• 1 7 • � � Coal v •,. X 14 (81) _ \ 1 ' b 1 94 1 fi 1 ,9 V r, z i — i liA ; ( W ON0p � LLO /q by v � 1 � � 9✓�.�w�M� • . _1 JI Ldlr yyy� \ 1 ' b 1 94 1 fi 1 MALONEY —%tke s/ G I �•.�� � - - -- ICi i 13 � ' `/ X154) d yl T ►V1 rV Co6l ► 1 j ,1T\ 17 _ (,41) . Y 14' V e(14_ a �a` t �` 0-2), -- —. — - - -- —�- - - - -- AVE GRAA'D" v /F. W 6 I N C ► '?o,- �' r}„' .� /1431 141 W (� • ,r O 7 9 PARK PRIME PR0FESS10NA L CENTC00) (Lit olz of J •1 ' ' 1 ►. IZ - 41 �11 W 7TH ST 1 wco l f PARK .. rr f, LHA ,o��;;, A a SON 2►igAD1 -° '� 1• 171 �✓a,9�t. R N V/EW PARK ,: _ o J• . Cemetery Association f z ti� 0. ";4. ICEMt TERY j ASSO CIA T!O I _ � •6 I I 1 14 i 7 e: 7. t0 , 60 ,. art ..7,-60 '',• I . I 70) af,� 9 (321 o+ a w,• A .ECauT RE�oRrLr ^�Ar, 24 �t .CMPI -ED FknM THE DE:CRiP- E r.UNTT 10O,T R'S TAN TS ^v FF.CO�:' IN THE C `URT r — - RMAT,ON Fp(;M IHE 1,Ta1TF .l ` HIAHWAY DEPAr.Talt'NTf AND F ES to D I I 1 Lu LL V Iprl -3 (49) 61 C b'a V MALONEY —%tke s/ G I �•.�� � - - -- ICi i 13 � ' `/ X154) d yl T ►V1 rV Co6l ► 1 j ,1T\ 17 _ (,41) . Y 14' V e(14_ a �a` t �` 0-2), -- —. — - - -- —�- - - - -- AVE GRAA'D" v /F. W 6 I N C ► '?o,- �' r}„' .� /1431 141 W (� • ,r O 7 9 PARK PRIME PR0FESS10NA L CENTC00) (Lit olz of J •1 ' ' 1 ►. IZ - 41 �11 W 7TH ST 1 wco l f PARK .. rr f, LHA ,o��;;, A a SON 2►igAD1 -° '� 1• 171 �✓a,9�t. R N V/EW PARK ,: _ o J• . Cemetery Association f z ti� 0. ";4. ICEMt TERY j ASSO CIA T!O I _ � •6 I I 1 14 i 7 e: 7. t0 , 60 ,. art ..7,-60 '',• I . I 70) af,� 9 (321 o+ a w,• A .ECauT RE�oRrLr ^�Ar, 24 �t .CMPI -ED FknM THE DE:CRiP- E r.UNTT 10O,T R'S TAN TS ^v FF.CO�:' IN THE C `URT r — - RMAT,ON Fp(;M IHE 1,Ta1TF .l ` HIAHWAY DEPAr.Talt'NTf AND F ES to D I I 1 GRAND VIEW PARK CEMETERY Harry Lindbery 6901 Maloney Ave Edina, MN 55343 Parcels to be removed or split from exempt status. Parcel Area I Land Building Total Class Hmst Status Sub record Zoning 30- 117 -21 -23 -0002 671,059 $771,800 $100,000 $871,800 X89 Non Hmst None R -1 Change to: 30- 117 -21 -23 -0002 361,596 $ 415,900 $ 93,500 $ 509,400 R NHSTD Non Hmst Sub 1 R -1 309,463 $ 355,900 $ 6,500 $ 362,400 X89 Non Hmst Sub 2 R -1 671,059 $ 771,800 $100,000 $ 871,800 Total 30- 117 -21 -23 -0001 258,391 $ 297,200 $ - $ 297,200 X89 Non Hmst None R -1 Change to: 30- 117 -21 -23 -0001 258,391 $ 297,200 $ - $ 297,200 LR Non Hmst None R -1 30- 117 -21 -24 -0002 176,009 $202,500 $ - X89 Non Hmst None R -1 Change to: 30- 117 -21 -24 -0002 107,255 $123,400 $ - $123,400 LR Non Hmst Sub 1 R -1 68,754 $ 79,100 $ - $ 79,100 X89 Non Hmst Sub 2 R -1 176,009 $202,500 $ - $202,500 Total CITY OF EDINA Confidential 3/11/98 Page 1 CASE # 16 6901 MALONEY AVE •i l WO Pik Lt ORxx 1 ��•_ .;. % s. I '�- .ate ?`�i:•�ri�,.'�Ati�ll;i/i r_ >a i %3�. -��,, t},. �`� !i �� �al��F >� rT.1`),f� .a�3fa- c -•�� � tom- •• - ; .: ti w j'� Ilk . -. .ypY¢� # -•9„" {�y, n,eM +..gyp ��iew.rt "' ..- - a�•J./ - I "v.'.,cS^ C ..,,a�aw�ry _ y ��' t... - vy,4w•,f` � by y. s`%i� CASE #16 GRAND VIEW CEMETERY CASE #16 GRAND VIEW CEMETERY 2 u GRAM ViEW PARK CEMETERY v. CITY' OF EDINA Minn. 329 Cite as 257 N. W.2d 329 where such tract was not being used in any Application of GRAND VIEW PARK �x ay as either public burying grounds or as CEMETERY ASSOCIATION TO REG- iand appropriated to use of cemetery, and ISTER TITLE TO CERTAIN LAND, R•2- where such land was not needed for such apondent- Appellant, purposes in reasonably definite: frture. V. NIL.S.A.Coast.1974, art. 10, § 1; M.S.A. §§ CITY OF EDi A, r;gpeli3rt °z:;,rnaeri. 272.02, subd. 1.306.14, subd. 1. Noe. 46929, 46976 and 47207. Supreme Court of .Minnesota. July 29, 10.77. Appeal was taken from a judgment of the District Court, Hennepin County, Irving C. Iverson, J., finding certain parcels of land to be tax exempt as being held for cemetery purposes and another parcel as not being tax exempt for such purposes. The Supreme Court, Scott, J., held, inter alia, that the evidence supported the trial court's conclusions. Affirmed. 1. Taxation 0=245 Cemetery land is tax exempt only if it is actually being used for burials, is in proc- ess of uciag sold for grave sites, or is being held for sale within relatively fixed span of time; land must be suitable for use as cemetery, and cannot exceed in extent the reasonable expectation of public needs; tax exemption is not appropriate if lands are such that cemetery association itself cannot develop them for public use, if they are being used for commercial purposes, or if they are being held for use at some unde- termined future time. M.S.A.Const.1974, art. 10, § 1; M.S.A. §§ 272.02, subd. 1, 306.14, 306.14, subd. 1. 2. Taxation (r--251 Evidence supported trial court's conclu- sion that tracts of land were tax exempt as cemetery lands. M.S.A.Const.1974, art. 10, § 1; M.S.A. §§ 272.02, subd. 1, 306.14, 306.14, subd. 1. 3. Taxation Q-245 Trial court acted properly in refusing to hold tract of land exempt as cemetery Syllabus by the Court 1. The Minnesota Constitution, Minn. Const. art. 10, 6- 1, and statutes enacted p,irsuant thereto, Minn.St. 306.14, subd. 1, and 2'2.02, subd. I, exempt "public burying grounds" from taxation. A mere dedica- tion ,r Appropriation on paper is not enough to qualify for such exemption. The land of a cemetery association must either be pres- ently used for burial of the dead, or in the process of being sold for gravesites, or must embrace an area in size that would be rea- sonably anticipated as needed in the near future for such purposes. 2. Where the trial court has con- sidered the above factors in addition to suitability and size and concludes that the intention for cemetery use is presently manifested, and no evidence is presented to show that the trial court is clearly errone- ous, the decision to exempt the cemetery lands from taxation will be affirmed. 3. Where a certain parcel has been used iargt ly for commercial purposes with no signs of actual cemetery development and is not needed for burial space in the reasonably definite future, the trial court's conclusion of nonexemption will not be re- versed. Mackall, Crounse & Moore and Frank A. Dvorak, Minneapolis, for applicant. Dorsey, Windhorst, Hannaford, Whitney & Halladay and David A. Ranheim, Minne- apolis, for City of Edina. Heard before ROGOSHESKE, KELLY, and SCOTT, JJ., and considered and decided by the court en bane. 330 Minn. SCOTT, Justice. 257 NORTH WESTERN REPORTER, 2d SERIES This is an action to register title to cer- tain land located in the city of Edina. The action was commenced by Grand View Park Cemetery Association (Grand View). The only interested party interposing an answer and contesting title is the city of Edina. In 1964 the Edina assessor decided to place several formerly tax - exempt parcels owned by Grand View on the tax rolls. Bother than contest the decision h%. the assessor, Grand View took no action. The taxes were not paid. the taxed property was forfeited to the state of Minnesota and was then conveyed to the city of Edina in 1973. Grand View brought the present ac- tion in district court to regain, title to the forfeited property. Below is a diagram of Grand View with parcel locations: The district court found that taxes had been improperly assessed upon parcels 1200, 1400, and 3200, though in each case the court found that the assessor had acted "in good faith and with some justification." Edina contests the total exemption of these parcels from taxation. As to parcel 3600, however, the court found taxation appropri- ate. Grand View contests this finding on both factual and legal grounds. The factual findings of the district court were thorough and necessarily lengthy, and hence will not be reviewed in detail. Those facts important to the resolution of this appeal will be discussed below. The issues presented are as follows: (1) Did the district court apply a suitable legal standard in determining the tax sta- tus of the parcels at issue? (2) Was the district court clearly errone- ous in concluding that parcels 1200, 1400, and 3200 are tax exempt? (3) Was the district court clearly errone- ous in concluding that parcel 3600 is not tax exempt? 1. The district court looked to both Minn.Const. art. 10, § 1, and Minn.St. 306: 14, subd. 1, as generally providing tax -ex- empt status to cemetery property. Minn. Const. art. 10, § 1, reads: "The power of taxation shall never be surrendered, suspended or contracted away. Taxes shall be uniform upon the same class of subjects and shall be levied and collected for public purposes, but public burying grounds, public school houses, public hospitals, academies, col- leges, universities, all seminaries of learn- ing, all churches, church property, houses of worship, institutions of purely public charity, and public property used exclu- sively for any public purpose, shall be exempt from taxation except as provided GRAND VIEW PARK CEMETERY v. CITY OF EDINA Minn. 331 Cho as 737 N.W.2d 329 in this section. There may be exempted from taxation personal property not ex- ceeding in value $200 for each household, individual or head of a family, and house- hold goods and farm machinery as the legislature determines. The legislature may authorize municipal corporations to levy and collect assessments for local im- provements upon property benefited thereby without regard to cash valuation. The legislature by law may define or limit the property exempt under this sec- tion other than churches, houses of wor- ship, and property solely used for educa- tional purposes by academies, colleges, universities and seminaries of learning." Minn.St. 306.14, subd. 1, provides "The lands and property of any such cemetery association shall be exempt from all public taxes and assessments, and shall not be sold on execution against such association or any lot owner. The owners of cemetery lots, their heirs or legal representatives, may hold the same so exempt so long as they remain appro- priated to the use of a cemetery; and no road or street shall be laid through such cemetery, or any part of the lands of such association, without the consent of the trustees." The constitutional provision is reiterated by Minn.St. 2 ?2.02, subd. 1, which provides in part: "Except as provided in other subdivi- sions of this section or in section 272.025, all property described in this section to the extent herein limited shall be exempt from taxation: (1) All public burying grounds." Tax exemption under art. 10 and § 272.02 therefore requires that the property consti- tute "public burying grounds," while under § 306.14 the property must be "cemetery lots ' ' ' appropriated to the use of a cemetery." (1] In its memorandum decision, the tri- al court noted its reliance upon an opinion by another district court judge: "' ' ' In regard to parcel 3W, there was a failure to meet the tree elements which must be present, in addi- tion to intent to use the parcel for ceme- tery use. The three elements were set down in a well reasoned memorandum by the Honorable Dana Nicholson in the Matter of the Petition of Sunset Memori- al Park Association, Inc., District Court File No. 654111, and are as follows: 1) That Grandview has the financial ability to develop parcel 3600 for cemetery pur- poses; 2) That Grandview continuously proceeded to develop parcel 3600 for a cemetery and that there was no abandon- ment of this continuous progress; and 3) That Grandview intended to develop par- cel 3600 for cemetery purposes within a reasonably definite future period." Edina approves of the court's utilization of these criteria, while Grand View asserts they are "founded neither in our Constitu- tion, statutes, nor case law." The Sunset Memorial Park decision relied on by the trial court was affirmed by this court per curiam. In re Petitions of Sunset Memorial Park Assn., Minn., 240 N.W.2d 821 (1976). This court analyzed extensively the tax - exempt status of cemetery lands in State v. Ritschel, 220 Minn. 578, 20 N.W.2d 673 (1945). The court construed the constitu- tional provision and the statutes involved in the present case, and arrived at the f- 110 v, - ing legal conclusion: Land owned by a cem- etery association is not exempt from taxa- tion under Minn.Const. art. 10, § V and Minn.St. 272.02, subd. 1, as a public burying ground, or under Minn.St. 306.14, subd. 1, as land of a cemetery association, unless the land is actually and presently used for the burial of the dead. An intention on the part of a cemetery association to use its land in the future for the burial of the dead was held not to afford any basis for exemp- tion of the land from taxation under the above- mentioned constitutional and statuto- ry provisions. The key facts of Ritschel were as follows: The cemetery association purchased land in Minneapolis in 1924. About '/e of the dedi- cated land was platted for burial lots; the 1. The applicable constitutional provision was revised and renumbered in 1974. . i" i ;32 %1ir.n. 257 NORTH WESTERN REPORTER, 2d SERIES remainder was not. From 1924 to the time of trial in 1943, the land was used by the incorporator of the cemetery for a home. truck gardening, and pasturage. The court, on these facts, held that the land was not tax exempt because it was not in fact used for hur:al of the dead. The court conclud- ed: "The use made of the land was not such a use as to constitute it a public burying ground. Aside from the incorpo- ration of the association, and the acquisi- tion, platting, and dedication of the land for cemetery purposes, no use was made of the land except for agricultural pur- poses. Hence, this is merely a case of platting and dedication without actual use as a public burying ground. 'A mere dedication or appropriation on paper is not enough.' Woodlawn Cemetery v. In- habitants of Everett, 118 Mass. 354, 361. The land was being held until it could be used for cemetery purposes. Merely holding land for use as a public burying ground does not constitute such use." 220 Minn. 590, 20 N.W.2d 679. Several other cases offer guidance in this area. In State v. Crystal Lake Cemetery, 155 Minn. 187, 189, 193 N.W. 170,171 (1923), the trial court had found that the cemetery land at issue "was used exclusively as a public cemetery, and no more was included therein than was reasonably necessary to anticipate the growing need." This court affirmed this aspect of the trial court's deci- sion, stating: "The Constitution exempts'public bury- ing grounds' from taxation ' ' '. This exemption is not made to depend upon the character of the owner, but upon whether the property is in fact pub- lic burying grounds. There is no question but that this property is held as, devoted to, and dedicated for a public burying ground, insofar as lots have been sold to the public and bodies interred therein. And we think the finding that the whole tract is of this character, since it em- braces only such area as may be reason- ably anticipated to be required to supply the needs of the near future. The learned trial court was therefore right in holding void the general taxes assessed." 155 Minn. 189, 193 N.W. 171. In the early case of State v. Lakewood Cemetery Association, 93 Minn. 191, 101 N.W. 161 (1904), the cemetery association had acquired land to be used for sale of new gravesites in the near future. The court held the addition to be exempt from taxa- tion, in that it would provide for the "fu- ture needs of the public" but not at an "indefinite future time." 93 Minn. 193, 194, 101 N.W. 161, 162. The court summarized: "We merely hold that it is within the power of the cemetery association to acquire prop- erty reasonably necessary for use presently for cemetery purposes, and that such lands are exempt from taxation." 93 Minn. 194, 101 N.W. 163 (emphasis added). In Rit- schel, the court synthesized the two cases as follows: It 41 s ' The case of State v. Lake- wood Cemetery Assn., 93 Minn. 191, 101 N.W. 161, is not contra. We there held that land acquired by a cemetery associa- tion to enlarge a cemetery already devot- ed to the burial of the dead and for use in the near future for such purposes as part of the cemetery is exempt from taxation. Of course, the exemption is not confined to mere graves —land already occupied by corpses. As a practical matter, a ceme- tery association must have on hand for sale to the public lots laid out for burial purposes, but not actually occupied as graves. The word cemetery comprehends a place where burials have been made and will continue to be made in the fu- ture. Owning and holding land for such future needs, if reasonable in amount and not beyond reasonable anticipation, are incidental to operating a cemetery. The difference between such a case and the instant one is that in the former the land is devoted to burial purposes both past and anticipated in the near future, whereas in the latter there is no such use at all. In the instant case, such use could not be reasonably anticipated, because of legal obstacles to the accomplishment of any such use. It makes no difference why there is no present use. Where _ -M x V :W GRAND VIEW PARK CEMETERY v. CITY OF EDIN A Minn. 333 Cite .s ;137 N.w34 329 there is no present use because of the not tax exempt. �ithough Edina points of fact that the o:':ner lacks fi.narcial ability ose� it doesr t argue find tha;,court for the purpose, but intends a future use exemption, when such ability is acquired, the proper- was cleariy erroneous in its decision that to ty is nonetheless not exempt from to 7a- these lei al standard was argue applied. tion." 220 Minn. 559, 20 N.W.2d 6.g. improper g Additionally, the court in Brown v Ms- ence rat in addition to trial, personally viewed plewood Cemetery a sociation, 85 Minn. d presented ia�i%A at : sue. The court's 498, 505, 89 N.W. 87`2, 875 (1902), noted: the cemetery ° • + • By section 3, article 9, of the memorandum decision indicates that he ex- state 1] amined each of the three parcels closely and state constitution [now art. 10, � au- noted many factors as to each weighing in thority is given the legislature to exempt favor or against exemption. The evidence public burying grounds from taxa tion. would probably support a finding either This provisior. of the organic law has way parcel 1L�U0. The trial court cited been made effective through the enact- a the following as weighing in favor of taxa- tion: acts to effectuate such exemptions ' ' "The 1964 assessment of the East 11 acres of Parcel 1200 was based upon and ,,It is inconceivable that these exemp- is supported by a number of factors. The tion privileges should be granted for the Harry Lindbery 2 residence was and is purpose of aiding schemes for private located on this parcel, and it has served profit." (Emphasis added.) and is serving a number of non - cemetery The above cases are supportive of the purposes. It was and is used not only as critc::= used by the trial court in the in- a private residence for Lindbery and his statt case. These cases establish that cem- family, but also as an office and head - etery land is tax exempt only if it is actual- quarters for various private Lindbery ly being used for burials, or is in the process commercial operations which are not cem- of being sold for gravesites, or is being held etery related. This parcel also served in and still serves as a storage site for 1964 for sale within a relatively fixed span of being used e equipmnt t time. Further, the land must be suitable various trucks and equipment connection for use as a cemetery, and cannot exceed in for non - cemetery purposes i conneclud- extent the reasonable expectation of public with Lindbery's other enterprises, needs. If cemetery lands were such that ing large over - the -road semi - trailer trucks private Lindbery haul the cemetery assoc:acion itself could not cks used in t develop them for public use, or were being ing company. The aforementioned earth used for commercial purposes, or were be- excavation and removal operation over- use held for use at some undetermined fu- lapped and still overlaps into the South - mare time, tax exemption would not be ap- east portion of Parcel 1200, and the por- propriate. tion of this parcel East of the Lindbery Since it appears that the criteria used by residence was in 1964 and still is rough the district court represent a reasonable and undeveloped." interpretation of our prior decisions in this In support of tax exemption, the court area, Grand View's claim that an incorrect found: legal standard was applied is without merit. However, the Lindbery resi- contends the trial court dence was in 1964 and still is used in part [2] 2. Edina office purposes, which should have held that, at a minimum, po a for cemetery la a art in the tions of parcels 1200, 1400, and 3200 were though minimal does play P 2. Harry Lindbery has been manager. treasurer, and trustee of Grand View since 1947, and was elected president in 1974. 334 Minn. 257 NOR'T'H WESTERN REPORTER, 2d SERIES overall cemetery operation. Also, por- tions of Parcel U00. especially the West portion (some included in and some ex- cluded from the Subject Land) showed in 1964 and still show indications of site preparation and landscaping in keeping with proper cemetery deveiopment and some actual burials. Although not yet completely developed, viewing the pro- spective use of Parcel 1200 from the fact of its location as a tie -in between the old Northeast corner of the cemetery and the newer Northwest corner of the cemetery, it is reasonable t: conclude that the bal- ance of Parcel 1200 would in the reason- ably foreseeable future be ripe for realis- tic cemetery usage, with the possible ex- ception of the home - office site." The district court balanced these competing considerations and concluded that exemp- tion was appropriate. To carve parcel 1200 into taxable and nontaxable sections, as ad- vocated by Edina, would be impractical and would likely result in continuous debate or litigation between the city assessor and the cemetery association. The district court was therefore justified in holding the entire parcel exempt, despite the presence of con- trary factors. As to parcel 1400, the trial court found: "The 1964 tax assessment of this parcel was based upon and is supported by the fact that the area remained ba3icalIy in its natural state and there were and are no grave sites on this parcel. Also, the aforementioned excavation area over- lapped and still overlaps into the South part of this parcel. However, as with the presently undeveloped portion of Parcel 1200, this Parcel 1400 does serve to tie in the entire tract adjacent to Maloney Ave- nue, the old and the newer parts of the cemetery. It also contains some indica- tions of general site grading and prepara- tion for future cemetery use. The Court finds that it is both feasible and realistic to expect that Parcel 1400 can be used in the reasonably foreseeable future for cemetery purposes." Edina's basic argument against exemption of this parcel is that it is not necessary for cemetery use in the reasonably foreseeable future. Edina points to the fact that the burial rate in Grand View only slightly exceeds 100 per year, while even the 1904 assessment !eft 12,500 burial sites available on tax- exempt property. The trial court learly had in mind, however, the probabili- ty that the hnrial rate will rise in the future as the expanded population of the Edina and Hopkins suburbs ages and the death rate increases. While it is true that mere holding of land for future cemetery use is not sufficient, it is also true that provision must be made for the future needs of the public. It does not appear that the approxi- mately 38,000 burial sites which would be available for future use are excessive in such a populous area. In any event, the trial court was not clearly erroneous in its finding on this issue. Parcel 3200 had the following characteris- tics: "The 1964 tax assessment of this parcel was based in part upon the presence of what had the appearances of being a commercial greenhouse operation (owned by two brothers of Harry Lindbery), and in part upon the large hill and rough terrain in the South portion of the parcel (including some of the excavated area). However, in 1964 Parcel 3200 was the site of 43 burials and through 1973 it has been the site of 103 burials. Other portions of this parcel have been physically prepared to receive future burials. Also, the greenhouse did produce merchandise for use in Grandview cemetery." Edina again seeks a partition of the parcel to make the southern portion taxable and the northern portion exempt. The trial court gave its view in the memorandum decision: "Parcel 3200 shows dc finite signs of cemetery development with Park 'A' in the Northeast corner of the ceme- tery land being the first parcel quite fully developed for cemetery usage. It is the Court's finding that parcel 3200 has been and is being reasonably developed for cemetery usage and should be entirely tax exempt." GRAND VIEW PARK CEMETERY v. CITY OF EDI:V A 14inn. 335 Cite as 257 N.W.24 329 Although Edina is dissatisfied with this holding, it does not provide evidence to show it is clearly erroneous. For reasons noted above, subdivision of the parcel into taxable and nontaxable parts was an option properly declined by the trial court. As to parcels 1200, 1400, and 3200, then, the trial court must be affirmed. In gener- al, the evidence shows these parcels to be suitable for cemetery development. They form a cemetery of reasonable size and convenient configuration and are presently in use or are under actiie development for use in the near future. Under the stan- dards enunciated above, the trial court could find tax exemption appropriate, and accordingly, title to these parcels remains in Grand View. [3] 3. The central dispute in this case concerns the tax status of parcel 3600. This parcel being approximately 20.28 acres, con- stitutes virtually the entire southern half of the cemetery -owned lands. The diagram of the cemetery, supra, shows that parcel 3600 is not necessary to the remaining parcels for purposes of accessibility or continuity. The undisputed evidence indicates that par - cel 3600 would add some 24,000 more burial sites to the approximately 38,000 provided by the other parcels. Grand View takes the position that the trial court committed errors of law which led to a wrong decision regarding parcel 3600. Specifically, Grand View argues that the trial court applied incorrect legal stan- dards to determine the taxability of ceme- tery lands. As discussed above, however, the trial court's memorandum and conclu- sions of law indicate that it did not commit legal error under the prior decisions of this 3. Finding of Fact 9 by the trial court is crucial to this issue; it reads as follows: "Beginning in approximately 1967, three years after the sub- ject tax assessment, Harry Lindbery decided upon and implemented a program of grading, preparation and layout of grave sites in Park N. located in the far Southeast corner of the Sub- ject Land in Parcel 3600. This is an isolated area of the cemetery, removed both by distance and rough terrain from the other portions of the cemetery. The area is virtually unreacha. ble by a funeral procession, the only access being by a natural grassy swail which lacks court. The only remaining inquiry, there - fore, is whether as a factual matter the trial court was clearly erroneous in finding that parcel 3600 should be taxed. The findings of the trial court establish two aspects of parcel 3600 which we find sufficient to support the court's conclusion of taxability: (1) Parcel 3600 is not now being used in any way as either public burying grounds or as land appropriated to the use of a cemetery; 3 and (2) parcel 3600 is not needed for such purposes in the rea- sonably definite future. As to the first point, the evidence supports the court's finding that parcel 3600 has been used largely for commercial purposes, including excavation and earth removal, and storage of massive pipes, large over - the -road semi- trailer trucks, privately owned dump trucks, and new camper tops. At the time of assessment the parcel showed no signs of actual cemetery development. Second, the record strongly supports the conclusion that parcel 3600 simply is not needed for burial space in the near future. Burial sites available in the other parcels total approximately 40,500 of which only 2,500 have been used. The rate of burials in 1973 was climbing slowly from just over 100 per year. It therefore is safe to assume that, even given a gradually increasing bur- ial rate, Grand View Cemetery is more than sufficient in size without the additional 24,- 000 sites which parcel 3600 could provide. This parcel simply does not meet the crite- ria as needed for future use under our prior cases discussed above. The record shows that parcel 3600 comes under the holding in State v. Ritschel, su- pra, that a mere intention to use land in the even minimal grading or signs that it has ever been traveled. Eleven burials were made in Park N from 1969 through 1973, and further burials there were halted by Order of the Court dated September 30. 1974. it was not and is not necessary to use this area for burials, and such use did not and does not represent a fair and reasonable use of such land. Rather, the Court finds that such use was a ploy to avoid taxation. Ordering the transfer of those eleven grave sites to the established portion of the cemetery will serve the interests of justice and the public interest." no yi 336 Nlinn. 257 NORTH WESTERN REPORTER. 2d SERIES future for burial of the dead affords no basis for exemption of the land from taxa- tion. Further, the record suppoms the con- clusion that parcel 3600 is not necessary for public; burial needs in the reasonable defi- nite future. The district court applied a proper le -gal Standard to the parcels at is- sue, and its conclusions were based on fac- tual findings which are not clearly errone- ous. Title to parcel 3600 therefore has properly vested in the city of Edina. Affirmed. OTIS, J., took no part in the considera- tion or decisior of this case. GY NUMBER SYSTEM Aill V. HARRISON, Widow of Burrell Harrison, Deceased, Respondent, V. SCHAFER CONSTRUCTION COMPANY, et al., Relators, and United of Omaha, Insurer. No. 472:33. Supreme Court of Minnesota. July 29, 1977. Employer sought review on certiorari of decision of the Worker's Compensation Court of Appeals awarding dependency benefits to widow of employee. The Su- preme Court, 244 N.W.2d 152, affirmed in part and remanded. On remand, the Work- er's Compensation Court of Appeals entered order modifying award, and relators sought review. The Supreme Court, Scott, J., held that statutory language authorizing deduc- tion from "any compensation due on account of the death" of disability compen- sation paid by employer did not require that relators be reimbursed from weekly de- pendency compensation payment;, which had accrued at time matter was rermanti}: -1 by the Supreme Court, but rather, said lan- guage meant compensation which ether sec- tions of Worker's Compensation.. Act provide for dependents of employee who dies from ..work- related injury. Affirmed. 1. Workmen's Compensation *-934 Under statute authorizing deduction of disability compensation paid by employer from "any compensation due on account of the death ", word "due" did not mean "hav- ing reached the date at which payment is required," so as to require reimbursement of employer from weekly dependency com- pensation payments which had accrued at time matter was remanded by the Supreme Court to the Worker's Compensation Court of Appeals for modification of award for dependency benefits and temporary total disability compensation, but rather, phrase "any compensation due on account of the death" meant compensation which other sections of Worker's Compensation Act pro- vides for dependents of employee who dies from work - related injury. M.S.A. § 176.- 101, subd. 6. See publication Words and Phrases for other judicial constructions and definitions. 2. Workmen's Compensation 4-11 Worker's Compensation Act as a whole clearly expresses legislative intention and purpose of providing continuing income to disabled worker or, upon his death, to those persons who had received financial support from his earnings. M.S.A. § 176.011 et seq. 3. Workmen's Compensation *-934 Interpretation of provision of Worker's Compensation Act authorizing deduction of disability compensation paid by employer from dependency benefits which would de- feat purpose of statute as a whole was to be avoided. M.S.A. §§ 176.101, subd. 6, 645.16. 4. Workmen's Compensation C-52 In view of remedial and humanitarian purpose of Worker's Compensation Act, its Case # 21 City of Edina Board of Review Assessor's Commentary Property I.D. Number: 06- 116 -21 -32 -0047 Date: 4/13/98 Property Address: 6720 SAMUEL ROAD Owner /Agent Name: THEODOR H HERMAN Comments: The home is a split entry style home in normal condition. The property- has been inspected. All comparable sales are similar in style and size. The adjusted sales price reflects condition and location factors. Sale number one is the best comparable. is.r1w - Reflection 1 PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY 10 Pt. Con HOUSE4 FRACTION: STREET NAME UNIT ZIP+4 Frunt: ..................... ............ ... .................. . . . ..... ........... .......... SS439+ R i gilt: Ownerl: HERMAN THEODOR Otmer3; Owner2: HERMAN BETTY Otulpl-4: Zoning: R I Pr i n/sec: Yr.bIt: 1965 Area: Sch. Ust: 273 Wshd: 01 Gr/Os/Ex: Subrecs; 01 Width: Mkt -Land 1998. 42BOU 1997: 42800 1996: 42600 Legal Description: Mkt -Bldg Mkt-Mach 112500 106600 1061300 LOT 0 BLOCK 3 KER-MIL HEIGHTS CURB 319 NEXT Ht. Adr: 120 Back: 150 132 Left: 137 Acres: .00 Depth: Mkt-Tot Tx Capacity 155300 1-19-100 1494HO Hd PT %'Own H R IOU H R 100 H R 100 .......... is.rI w - Reflection I PROPERTY ID Tum-UTN"", =1 _PROPERTY DATA SYSTEM SALES RECORD UPDATE --------------- Address -------- - - - - -- 6720 1/ SAMUEL RD 1: SM ii REMARKS CURR IUB NEXT city of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: 0 Attach any supporting documentation Owner Name: 17 Owner Address: e� % Z/,' j6�1;-7 / /i 7 Home Phone Number: Property Address: S� 2; y Business Phone Number: Assessor's estimated market value for January 2, 1998: Ly Z SOC Land: t)o Buildings: Total: e!51 1 believe the estimated market value on January 2, 1998 should be: Land: %r% XX Buildinqs: //i <-17121) Total: Purchase Date: otal Year Built: House: Garage: Additions Explain): .,rei.� Condition of Structures (Explain): , r Description & value of additions and improvements since y ur urchase of thi prop ^: Professional A pralsaW:: (Please attach a cop. of any recent appraiisals . Appraisal Date: Indicated Value: �- 14 FA / i WRIWAMM ell . -. ... //G RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. Address PID # Case # 6720 SAMUEL RD 06- 116 -21 -32 -0047 21 City of Edina Board of Review Assessing Dept. Page 1 4/8/98 Sales Comparison Adjustment Grid . ............. I ................... Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 6720 SAMUEL RD 06- 116- 21 -32- 0047 6716 SAMUEL RD 06- 116- 21 -32- 0048 5336 64TH ST W 05- 116- 21 -11- 0020 6013 ERIN TERRACE 05- 116 -21 -33 -0060 Sale Date Sep-97 Aug -97 May -97 Sale Price $ 184,700 $ 182,000 $ 212,500 Time Adjustment $ - - Adj. Sale Price $ - $ 184,700 $ 182,000 $ 212,500 Price / Sq Ft $ - $ 113.17 $ 110.57 $ 149.02 Style SPLIT ENTRY SPLIT ENTRY SPLIT ENTRY SPLIT ENTRY 1 st Floor Area 1,644 1,632 1,646 1,426 2nd Floor Area Total Sq Ft 1,644 1,632 1,646 1,426 $ 5,500 Quality GOOD GOOD GOOD GOOD Year Built 1965 1965 1968 1966 Condition GOOD VERY GOOD $ (20,000) VERY GOOD $ (20,000) VERY GOOD $ (20,000) # of Bedrooms 3 3 3 3 # of Baths 3 3 2.5. $ 2,000 2.5 $ 2,000 Basement Area 912 806 1050 987 Finished Bsmt 568 550 700 $ (1,500) 500 Walkout NO NO NO NO Fireplaces 2 2 2 2 Heat / Cooling FA - CA FA - CA FA - CA FA - CA Garage Size 2 CAR BSMT 2 CAR BSMT 2 CAR BSMT 2 CAR BSMT Deck PATIO DECK - $ 1,000 DECK Porches - - - 3 SEASON $ (5,000) Lot Size 136 X 135 130 X 132 60 X 130 $ 5,000 95 X 128 $ 5,000 Location HWY SIMILAR 2 BLKS FROM XTOWN $ (5,000) GOOD $ (40,000) Other Other Other Other Restrictions Net Adjustment €; :' �` >� »< <> �.`:��' » >': >':'< < '<<`'< $ 20 000 ( ) $ 18 500 ( ) $ 52 500 ( ) Price Adj. Sale P $ 164 700 163 00 5 $ 160,000 'ce Sale Pn 1 9 $ 00.2 99.33 1 12.20 Assessing Dept. Page 1 4/8/98 CASE #21 6720 SAMUEL RD FRONT VIEW STREETSCENE i _.. Case # City of Edina Board of Review Assessor's `Commentary Property I.D. Number: 32- 028 -24 -24 -0361 Date: 4/13/98 Property Address: 7350 YORK AVE S Owner /Agent Name: GARY PHILLIPS Comments: Addresses in this condo development, Edina Place on York range from 7300 York Ave. through 7350 York Ave. Nine sales in this development were considered. Of the three used, #1 is the best comparable. Number 2 and 3 were-used to provide supporting adjustments. Since all are in the same development, minimal adjustments are required. The range of sale prices of the one:bedroom condos that sold, is $50,000 to $61,600. The indicated value of the adjusted sales is $51,000. I recommend no change. logis.rlw - Reflection 1 PROPERTY DATA SYSTEM TAXPAYER INQUIRY PROPERTY ID' Pt, Coll HOUSE# FRACTION STREET NAME UNIT ZIP-4 Frant: YORK AVE 5 204 "> 55435* Right: Ounerl: PHILLIPS. GARY L Owner3:.. 01111er2: 01-rner4: Zoning:. Pri fit/ sec: Yr.blt: 0000 Area: Sch.Dst: 260 Wshd: U1 Gr /Us /Ex: Subrecs: 01 Width: CURB 319 NEXT Mt.Adr: Back:. Left: Acres: Depth. PROPERTY ID PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 7350 1/ YORK AVE S 204 REMARKS CURR 106 NEXT s` •::.2... %:wkv2....tr.2.:t::..v. c•rv...... i4 y� ............:ivxxxv MEN Mkt - Land. Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT 10nn 1996: 6000:. 41500 47900 H X 100 1997: 6000: 40600 46600 H X 100 1996: 6000 36000 42000 H X 1U0 Leyal Description: = == NO LOT AND BLOCK GIVEN =__ APARTMENT OWNERSHIP N0, 0107 EDINA PLACE ON YORK CONDO BLDG 5 APT 204 TOGETHER WITH AN UNO .030001 TNT IN THE COMMON AREAS AND FACILITIES PROPERTY ID PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 7350 1/ YORK AVE S 204 REMARKS CURR 106 NEXT s` •::.2... %:wkv2....tr.2.:t::..v. c•rv...... i4 y� ............:ivxxxv MEN r -city of Edina Assessor's Office 480i West 50th Street -dins, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application I P.I.D. # 32- 028 -24 -24 -0361 I Date Returned: i/ IW.*7x 9 f -• Time: m93 Received By: /yYf Case # orofficetseort y. Application Date: March 2 1998 I Attach any supporting documentation Owner Name: Gary Phillips Owner Address: 7350 york AV S #204 Home Phone Number: - li 8 31 aX S9 Business Phone Number: Property Address: 73S0 YoeK /'v Nc,e Sour] -0 3.051 MN Assessor's estimated market value for January 2, 1998: Land: Buildings: 47 9,00 Total: 47 010 o (FDA ^" y 3 iA P 1111 ENs) I believe the estimated market value on January 2,1998 should be: Land: Buildings: ''3 500 Total: 43 "00 -- Purchase Date: IL-;k-fl- $ 'Total purchase price (land & bldgs.): 3-17 Soo Foa mY M®Aara1E1,?) CrvE Byij -PI46 FOR 5roAA (.E AND 8rwE6kLy Year Built: House: 1117} Z Garage: 07a - Additions (Explain): REMOVAL- of -1 54 AAJt) ,JuN I GVESr GaoD iN GEIV --PAt— ,04 ROOF IS 8AD C -CAUSE /7- LACKS C-NovGH Condition of Structures (Explain): 1,VruLA"0Af. 7N41 R65014-5 IN LeAKS ,n romE wiN;EQ5. Description & value of additions and improvements since your purchase of this property: l� 7/lilsd &III.DIN6 p SNIZV8Sr NIGPIr L1&Af r NEeQ M7 8c-j koom w/NIJOVJ TQ4r CA�SrcT ME To L1 VE !N p,,751GE 06nrinlG uGHr a4 !�t/RJ. Prcfe_sional:4 pra'ss.ai_, , . .:....:.>; .Please attach a.cop �f any.recent app a sa ... . . Apprai sal Date: (.NONE) Indicated Value: :E ptamahs:reaso s for.. our:o . 'ection::ta the: assessor 's:estirrtated:crtaTket:..... . /_. Cti; 1dra-,1 /;r/ �n �omm�ns : Dzfa ��s -,Y% a acl.aeQ s r. `f prIr �CI�a NO /Se. /1 S JCes�dani'i2tl orerdQ /ela r7tw,fi- 6. Commercia orerAevla >r�n I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant:'^ • i°�� _ RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. 1 ✓l Q/u'ik- / �� / 4 X18 TO: Frnm -YrA .w� �.a�Vl -esC t+�d (y� a err -c� Yltrt Ain. aC one u/ 6 _ �^ �-�hc /0 7� o-n. �� .� fr �.�a�- .v -a�:.` ,v�., iu�,..et, ��q- -• F.�n 7ry l9 U �( -vn.�, � �l% � D' "�iy(.e° err -.z. 4/7 9 00 4'ee� limp ,,q„i ,cN-�� c.,a�r- GGtc.�a/�.z � -,x�- ctLa�( .��- -� �� • �f aw�ka cR.ka -� .a -���e, .��aa- "^� ���,r,� 3. T�tio- Jl�.�r.- U•fi � c-cn /mil a•,+�' �i.,,� A,�,,,o'� -tee_. ��10 � "dar�it�''`- �3 a�cv.t�+.�� -. 7.,o-Z.-, DWI- - U s� o� I %4 1� ;wt ,r A'a' .-e ha �; �""'f / U - -� axe_ , r- o -Z.4-4, City of Edina Board of Review Address 7350 YORK AVE S #204 PID # 32- 028 -24 -24 -0361 Case # 1 Assessing Dept. Page 1 4/10/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 7350 YORK #204 32 -028- 24- 24-0361 7330 YORK #107 32- 028 -24-24 -0260 7300 YORK #208 32 -028- 24- 24-0319 7340 YRK A#201 32- 028 -24-24 -0381 Sale Date Mar -97 Aug -97 Aug -97 Sale Price $ 51,000 $ 59,300 $ 64,000 Time Adjustment $ 1,000 $ 600 $ 600 Adj. Sale Price $ - $ 52,000 $ 59,900 $ 64,600 Price / Sq Ft $ - $ 72.32 $ 83.31 $ 67.08 Style CONDO 2 STORY CONDO 2 STORY CONDO 2 STORY CONDO 2 STORY 1 st Floor Area 719 719 719 963 2nd Floor Area - Total Sq Ft 719 719 719 963 $ (8,500) Quality AVERAGE AVERAGE AVERAGE AVERAGE Year Built 1972 1972 1972 1972 Condition AVERAGE AVERAGE GOOD $ (3,000) AVERAGE # of Bedrooms 1 1 1 2 $ (5,000) # of Baths 1 1 1 1 Basement Area Finished Bsmt Walkout NO NO NO NO Fireplaces NO NO NO NO Heat / Cooling CENTRAL CENTRAL CENTRAL CENTRAL Garage Size 1 CAR DETACHED 1 CAR TUCK UNDER $ (4,000) 1 CAR TUCK UNDER $ (4,000) 1 CAR DETACHED Deck YES YES YES YES Porches NO NO NO NO Lot Size 2ND FLOOR 1 ST FLOOR $ 2,000 2ND FLOOR 2ND FLOOR Location EAST VIEW EAST VIEW SOUTH VIEW $ (2,000) EAST /SOUTH VIEW Other Other Other Other Restrictions Adjustment Net Ad u J = ' $ 2 000 ( ) $ 9000 ( ) $ 13 500 ( ) e Ad'. Sale Price J $ 50 000 $ 50 900 $ 51 100 Price Sale P $ 69.54 $ 70.79 $ 53.06 Assessing Dept. Page 1 4/10/98 � 1 _� � ��� _ ,ji►� - _ _ 1• }f, 1 EEL. Q{ Vii' ' ftt QWY4 T.� w • Case # 2 City of Edina Board of Review }. Assessors Commentary iti v t ` ~ Property I.D. Number: 30- 117 -21 -42 -0021 Date: 4/13/98 Property Address: 5012 SCHAEFER ROAD Owner /Agent Name: DENNIS S & SANDRA D WALSH Comments, The house was originally purchased April, 1994 for $482,500; at which time the property was reviewed and adjusted to reflect this purchase, price, and condition. On owners request, we again reviewed the property on 3/11/98 and found,the home has changed considerably since last visit. The house is currently on the market and the enclosed brochure readily describes its condition and improvements. The owner and sales agent informed me on 3/11/98 that the home is currently listed at $870,000 down form the original list price of $1,200,000.00. is.rlw - Reflection 1 ;:.I N pi 'I W, i ® - PROPERTY DATA SYSTEM TAXPAYER INQUIRY CURR 319 PROPERTY ID "? NEXT Pt. Con:.. Mt.Adr:: HOUSEli FRACTIONx. :: STREET NAME UNIT ZIPt4 Front: Back uGt1WE :Rt1 S5436+ Right: Left: Otanerl: WALSH DENNIS S .Onner3: Otiner2: RALSH SANDRA L Otaner4: Zoning: 0 Prim /sec: Yr. bIt: 1901 Area: Acres: .00. Sch.Ost: 270 Wshd: 01 Gr /Os /Ex: SnbreCS: 01 Width: Depth- Mkt-Land;..: Iwo ------- ::•:• -s•. loois.rlw - Rellection I PROPERTY ID PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5012 1/ SCHAEFER RD REMARKS CURR 108 NEXT ................... ............................... ' ?ii >i;ii:>i:r i:::ss>?E�i:»:«: Mkt -Bldg Mkt -Mach Mkt- Tot.Tx Capacity.. Hd PT %Dian 1998: 215000 -:.: 520000 735000 H RL 100 1997: 215000: -: 305900 520900. H RL. 100 1996: 200000:: 305900. 505900 H RL 100 Legal Description:.. LOT 2 BLOCK 1 HAROLD WOODS.SECOND ADDITION Iwo ------- ::•:• -s•. loois.rlw - Rellection I PROPERTY ID PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5012 1/ SCHAEFER RD REMARKS CURR 108 NEXT ................... ............................... ' ?ii >i;ii:>i:r i:::ss>?E�i:»:«: City of Edina 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Assessor's Office Application Date: Attach any supporting documentation Owner Name: [ �j - Owner Address: `�- �. 1 Home Phone Number: Business Phone Number: Property Address: 9 GI my) Assessor's estimated market value for January 2, 1998: 22 Land: Buildings: Total: I believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: (Jou Purchase Date: °iy Total purchase price (land & bldgs.): t4$S COO Year Built: House: Garage: Additions (Explain): Condition of Structures (Explain): W% t,4 t' kovx, )$ e vteti -1 ,, - I �,►�� n[Sl��l Description & value of additions and improvements since your purchase of this ' pro erty: ,c; geptnu v 4- t�l -5erne w;,�cic�,,�, nwpel- � t6 he,, 1e coo Oec �. .............................................................................................................. ............................... ............................................................................................................... ............................... . ............................................................................................................... ............................... .....................................................................I........................................ .......................... ........ ro egs�+��a pralsa 5 e.a�.e:attacM:a: cvp f any:re+cent:�RPr!aisals .::::::::::: ::::::::::::::::::::::::::: ::::::::::: Appraisal Date: -� L g !Indicated Value: E�i tain:ttte:ceasons fcr. our:oti ecfion:ta tle:assessor's:es #iateif: market: vatiies :::::::::.:::::::::::::::::: : ::::::::::::: o 0-L-e 6S .') av 0 we LC) 11 � es Vie( f I DO HEREBY AFFIRM THAT THE ABOVE ItFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF Signature of applicant: ' RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. 11RR -13 -1558 1213 Prime I•lortgage l•orp oI� cJ� r.�c•� urea Property Description vaeaa -\ rn• ..r�.��._ ..__— . _. _ _ __ ____ __- _- - _ - _ 5012 Schaefer city Edina state Mn Zlpcode 55436 ..— PruperiyAddress ,Road 2 block 1 Harold Hoods 2nd addition county Hennepin Leg ■loe�crptlon_lot _ A6ssta S 0.00~ n6ranor's P_ I. D. 1 30- 117 -21 -42 -0021 Tex Year 1997 R,E: Texas S 11408.00 Special semM Parcel No. lip, rower- lialsh OS- 81 3993 curr•ntOwnsr same _,_ Oeeuvent X Owner - Tenant - Vecent TyOe _ - COndOmmlum (Halo /VA Only) HOAS n /a /M0. property fights appraised X F•O Stro01! - Leaselgld Project Map Reforence 78 3d Census Tract 237.00 1Aporelser Neighborhood er Projaet Name n/a Sale Price 3 refs ontoa!Salen /,a-• D!! 0nytlSendsamo_ untortOenCMrgsareonessckinroD •PWDys none Lon a•r/cllent Prime Mort. ,,.Lucy Earhardt Address 435 Ford Road, Hinneapolis, Minn. Paul J. Larson SBA Address 19192 Po lar Circle Eden Prairie Mn. 55347 Location Urban SuburDen Rural single fandly housing Present land use X Land use change 1� Predominant a Built up Over 759. rMr�t 25-76% Under 25% ����ee••••ttttcupaney S (�1 ( ) One family 98 OX Not likely LIOWY Growth Rate Rapid SteDle Slow X Owner 135 Low 15 2.4 family 02 in 0100966 increasing x $leet@ U Declining Tenant 725 High 65 Multi- lamlly 00 TO: n/a � Property vaki s ;. Defend / supply D Shorts0e 0X tn balance Oversupply CE vacant (0.5L) PredOminant commercial 00 .• Marketing lime Under ones. X 3-6rroLL Over 6 ones. vacant (ovn3a) !425 45 Neter Race and the fact eomvosltbn of the nslghborhoed sit not appraisal factors. Neighborhood boundaries and characteristics: The neighborhood is bounded by Highway 169 to the west,8ighway 100 to the East, Interlachen Blvd. to the North 6 70th Street to the South. _ Factors that affect the marketebllily of the properties In the neighborhood (proximity to employment and amenities. employment stability. appeal to markal. ate.): strong loeational appeal due to proximity to premium Edina neighborhoods a_nd Interlachen _ • Golf Course. LLijhtly_wooded with some homes on or nesr ponds or Mirror Lake. All area and neighborhood.,atnenities within 5 blocks of the subject. Location of higher valued homes with Minneapolis, a major employment center only LO minutes to the Northeast via easily accessable_streets and freeways. Homes in the area appear compatible and supportive. Market Conditions In the subject neighborhood (including support for the above conclusions related to the trend of property values, demand /supply. and merkotlnp time properties for aale In the neighborhood. doserlvUOn of the prevalence of sales and financing concessions, ate.): - such as data on competitive Seller points (0 -4 pt) are normal for the market with no material value impact Marketing time is eurrently,•about 90 days with some homes selling quiekec and other higher priced homes taking up to 180 days. Sale prices are generally ._. discounted 2 -91! of asking_�ices..,_U aup�ly.and demand appear in balance. p — ... ... _ _ - -- ..... Growth rate is stable with competitive values stable to slightly incressin . • Project information for PUD@ (it applicable) - • Is the developer /buador In control of the Home Owners' Association (HOA)7 - Yes No Approximate total number of units in the subject project -- - - - - -- . Approximate total number Of units for sale in the subject project --- - - - - -- _ - 1 Describe common eternents and recreational facilities: N A - not a PUD unit Dmonslons irregular - see 1p at _ Topography hilly to flat Slteares Est.@ 1 acre CornwLol1x Yes No size larger than most SDSClIie zoning Cla5611tCallOn and dvacnpllpri B -1 Single• Famil Sesidential sflepe irregular Zomn9compwv" ® Legal a L •palam¢emnr•ing(9randlathandw•) - Illegal - Nozoning Drainage agpears adequate Highest a best use as improved: X Present use - Other use (explain) View Rondview _ - .,, utilities Public Other Off -alts Improvements Typo Public Private Landscavr g good . Electricity 200 am street as halt x D DrlvewaySurface as halt /A _ rx, Gas U Curti/gutter concrete __•— x Apparent easements typical uti_l_it Water R Sidewalk none D FEMA Special Flood Hazard Area a Yet X No Sanitary sewer ® Slro•lilghts typical _ �t FEMA Zone _ C Maposte 5 -01 -80 Storm sewer R Alloy none FEMAMa0N0. 270160 000 8 Comments (apparent adverse casements. encroachments. special assessments. slide 81983, Illegal or legal nonconforming zoning use. etc.): _ No encroachments with typical non - detrimental utility /drainage .apparent easements. Wooded with elevated cndviews to rear. Turn - around driveway. GENERAL DESCRIPTION • No, of units one EXTERIOR DESCRIPTION Foundation block/A._.._. FOUNDATION slab 88, — BASEMENT Area Sq. Fl. 2220 INSULATION Roof conc 8X No, of Stories 2 Exterior Waits stone /A Crawl space 04 %Finished 90%1 Ceiling conc_ x __ Typo(Dol./Att.) detachd Roof Surface asphalt /A. Basement 1008, - -- Coiling d�a,ll walls conc n ' Design (style) 2 -multi Gutters 6 ownsvts. metal /A. Sump Pump none wars stone Floor none ❑ Existing /Proposed as Window Typo Cs /Nd /A. Dampness not a rt Floor car et None -_ a;� Age (Yrs.) 37 years Storm19eresna Combo Settlement not a rt Outside Entry _unknown -- t x Effective Age Yre. 18 viral Manufactured House NO Infestation not a pprt ROOMS Foyer Living pining Kitchen Den Fatuity Rm Ago Rm. Bedrooms N Baths � Laundry � Other Area Sq. FL 1 _ a•a•w•nl 1 2200 • Level area _.._. L 1 1 _.._ 1 1 1 2308 _ 4 2 900 ilr�.iz...— _ _._,._.. 3rd aces oboes gr Wo contains: _ 9 4 BeOroom a :+ 3 Bath s : 3150 Square Feet of Gross Living Area Finished Rooms: INTERIOR MatvrUlt /Conallion HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE • Floor hdxd ert /A. Type f /a -ca Refrigerator ® None D Flreptace(s)0 T Q None Q Wale drywal istone /A Fuel gas Range /Oven a Stair, D Pane stone Garage 8 o ears Trim /Flnlsh good /A. Condition A. Disposal a Drop Stair DvOk concrete ❑ Attached 3 Both Flow ceramic /A. Dishwasher Qx Scuttle X Porch none D Pattered n/a COOLING BalhWsinscot Ceramic _ /A. Central ems_ Fen /Hood aX ;loot Fence none Built -In n/a Doors s0£� Other n/a microwave Healed Pool none Carport n/a —Wood six-paneled A. Condition A. washer/ er p Finished H I Driveway n a Additional features (special energy effioient items, etc.): _security systems, curved staircase, superior use of stone or 29raded interior and exterior materials. Regent ne_w_kitchen and other [omodel�a lowers • Condition of the Improvements. depreciation (phyvlcal. funcOOnaL end external). repairs needed. quality of construction, remodeling /additions. etc.: improvements in averrjge to_new condition for - age as_indicated (A- average to new.) Personal property not included in_value estimate (P) No apparent physical or functional obsolescence. - - -- (space above._,garage unfinished and not included in value_. estimate as finished space_) -- Adverse envlronmontal conditions (such as, but not limited to, hazardous wastes• toxic substances. etc.) present in the improvements. on the Via. 01 in the immediate vicinity of the subject property: No adverse environmental _conditions apparent: Air traffic noise is_not-applicable to the area or neighborhood market. Fredd a Mse Form 70 6.113 10 CH. PAGE 10F 2 Favuo Mae Form 1004 6.91 Horrepuler. Forms Processing System For Later Printns 1(802)773-3018 MNF- 1� -lyya 1 .e:14 t-rime rjortgaye Lorp .,•+•..,— r-...,,,.,- remodeled - - S 220 Comments on oast Approach (such as. source Of coat estimate. ESTIMATED SITE VALUE , ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Site value, Square toot calculation and. for HUD. VA and FrnHA. a Dwelling 3 150 5a Ft e $ 99 _ 00 - S _ 311, 850 — .. 1 estimated remaining economic Ufa or the Property): _ , - -- 2,000 Sq,Ft@S 70...00 • 60 000 _._ —_. ..r lease sae attached: a so open spaces _ FunctionalUtiliiy 15,500 (net of_ao rp aised open space allowance Wrago /Cerporl 682 Sa Ft e S 20.00 • 13,640 deducted from total upper floor spaces _ _ -s _,,.. 400,990„ above garage space not included. Total Estimated Cost NOW .. functional External f cone __., -,__ ", remainin economic life east. 0,57 yrs Lose Physical o_. -s 94,000 land > 3016 of total value or:. _ Depreciation 94000 _LO , -- p •S 306,990 220000 536000- 41% .- DeptecletadVelu•ollmDrovamen(s ................ .............. _,_. _...._ •S 11,500 see also `Cost Approach' as ante_ _- 'As•Ie'Vatuootsltelmprovements ........ ................... •f 538,490 f /a -ea_, in the Special aden um INDICATED VALUE BY COST APPROACH ITEM_ SUBJECT ; COMPARABLE NO. I — 3 car COMPARABLE NO.2 COMPARABLE NO.3 .. 5012 Seha,or s 4916 ; Hidge )load 16617 Biscayne Blvd 5220 Larada Lane Address Edina, (��mm Ed_ Proximity to Subjecl WI11�1111111llllWll1 2 'sat.. Pric:. _�— s ref i it Pnoe /Gross Liv_. Also 9 _� S Date and /or inspection Verification Sources n /a _ 5q VALUE ADJUSTMENTS DESCRrtIPTION Sales or Flnencing 1111111 CV Data of salunmeRUM l.oeeuon cemier Site Fist Dustily, of construction goon Aqe , 38/18 -. ey ars Condition remodeled - Above Grade Total qdr Botha Room count DESCRIPTION Gross Living Area 3150 Sq Ft. 9.a.m.ni 6 Flnishod 10011, - -- pooma Below Grade 12 _0_0 9031; F_ FunctionalUtiliiy ,Sao basemen Heating /Cooing ;f /a -ea Su Jas L.S. (001 days) s.90 /CtxC.R.V. OESCRIDTION • ( -) f 30 yr — ,a7_1TIe7 ee simple acres iondyiew _ -multi Iced /brick — 9000_ 1/2 years 8000 _- lower total Bdr Using _ I +500 1850 _ Sq. Ft. -35000 LO011a,w /0 -5000 !000',bath_. lverage _,__ /a -ca Garage /Carport 3 Car 3 car .__ _ Porch. Patio.0eck decks 4- season Arch; -7500 tin, ace(a),ele_2 f•rple Fence. Pool. 91C. unfinished _none r_...,. -- s st uP ce pp(9111!ppt l T"1: f X I ; s ^ -64.00 iT� 5I'IrI 3 blocks SW U S f 156.67 470,000 �block 111UWL!llD1WLUlll.3 530,000 f 171. S8 IJJMMMJ I.L.S. (71 days) 518.90 /Cty C:.R.V. L.S. (50 days) S1s.90 /Cty C.R.V. DESCRIPTION • ( -) f Adinunant -yr DESCRIPTION • (•) f n0luslmant :v 30 D pts 6/97- 8/97_T� cash 30 yr 0 2ts 9/97 -11/97 _ premier cemier fee simP. 1 e — ,5 ac. +15000 fee simple .4 ac. +15000 wooded +4500 2 -multi ooded 2 -multi i +4500 — _ good �1317 good _ 23115 years._; -1500 remodeled years remodeled -5500 _ _ Taw edmne 10hs 8 A •2 _5 _; 1500 X3089 Sq. Ft +3100 Total Bdmo Baum 7 7 :2.5 3000 Sq. Ft. + 7500 10016,w/o -5000 1600' ,bath average 10016, - -- 0 +_3_9.0_00_ _ average ; f /a -ca f /a -ea_, _ standard /Mn ___, standard /Mn ; 3 car 3 car I4- season prch -7500 4_ frplc i -3000, decks 2 fr lc ; none�� none I t I XI • 7F. :Sr 6,100 X [7 - :s 60,500 A61USled sera. Price of Compwably f _ 561,000 f 536,100 !_ 530,500 Comments on Sales Comparison (Including the subject property's compatiblllty to the neighborhood, MO.): All of the comps are near the subject in the same or similar Premier Edina area neighborhoods. All are good to better gvality_2- storys_(with multiple inter_stocy levels) _as is the subject. The sales analysis has made_eertain adjustments according ._t— perceived buyer reactions,to similar and known market stimuli.,- .Estimated value is•as.per Comp 12 which has the most similar overall characteristics and design and the least net adjustments. Value bracketed. REM SUBJECT _ COMPARABLE NO. I COMPARABLE NOW COMPARABLE N0. 3 Data. Price and Date no sale in no prior sale in no prior sale in no prior sale in Source fat prbrsNes last 12 moo last 12 months as last 12 months as last 12 months as anthh year of appre_ual Sys• 90 /CBV Der our research_ er our research er_our research Analysis of any current agreement of sale. option or hating of the :object property and analysis of any prior sales of subpel and compwables within ore yew or the dety of epbralsel� As ,per our research, there is no .other sale, cpga •.or list in presently on the subject property- Prior sales within the last_12 mos. are as noted above. _ INDICATED VALUE BY SALES COMPARISON APPROACH S 536,000 INDICATED VALUE BY INCOME APPROACH (if Abolioable Estimated Market Rent f n i IMO. s Grass Re,nl Multiplier n a • S This appraisal a made I X I as t subject to the repalis• allersis ms. Inspections, or oondltbns listed below LJ subject to completion per plans and spoolflcatiom. Conditions or Appraisal! See ' a ' lso special adendum for standard anti- special comments. This is a Complete Appraisal - _Suttusary_Bepart as per The Ap2raisal Standards Board Statement #7. and DSPAP. FhWRoeoncltaaon: Insufficient data precludes use of the income approach. Although__ the .cost approach is supportive, the sales comparison approach is considered most applicable for properties of.this type and therefore most reflective. _ The purpose of Ws appralSo I$ to estimate the market value of the real property that Is the Subject or this report. based on the above conditions and the codification contingent and Poling cordUons. and market vale definition that are stated in the atlaGed Freddie Mae Form 439 /Fame Mae Form 10048 (RONS90 6 -93 I (HIE) ESTIMATE THE MARKET VALUE. AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT. AS OF 3/11/98 (WHICH IS DA NSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO VE 3 536 , 000 _• APPRAISFA: SUPERVISORY APPRAISIER (ONLY IF REOUIRI Signature .•,_ Signature n/a ,., _ E] Did a Did Not Name Paul arson, SSA Name n/a In3pertProperty 0610 Report signed 3 / 11 / 98 Date Report Signed n / a state eerhneshone_9_a_me as below Slate Mn. State Certification r n/a - State Or Slate Licenser 4000933 t StateMn Or StateLfcenses n/a State eda• Mac Form 70 6.93 10 CH '. PAGE 2 OF 2 Fares Mae Form 1004 8.9; Honeputar. Forms Pr000lsetg System For Laser Pnnlsrs 1 (Im2) T73.30ta TOTAL P.03 Address PID # Case # 5012 SCHAEFER ROAD 30- 117 -21 -42 -0021 City of Edina Board of Review Assessing Dept. Page 1 4/6/98 Sales Comparison Adjustment Grid .. ............................... .. ............................... Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 5012 SCHAEFER RD 30-17 -21-42 -0021 800 SUNNYSLOPE RD 18 -028- 24-22 -0081 5400 INTERLACHEN BLUFF 29- 117 -21-41 -0064 4706 WHITE OAKS RD 18-028- 24-11 -0037 Sale Date Aug -97 May -97 Nov -97 Sale Price $ 675,000 $ 682,500 $ 825,000 Time Adjustment $ - $ - $ - $ - Adj. Sale Price $ - $ 675,000 $ 682,500 $ 825,000 Price / Sq Ft $ - $ 209.17 $ 175.00 $ 190.66 Style 2 STORY STONE 2 STORY BRICK 2 STORY BRICK 2 STORY BRICK 1 st Floor Area 2,240 2nd Floor Area 1,410 3,227 1 3,900 4,327 Total Sq Ft 3,650 3,227 $ 26,200 3,900 $ (7,500) 4,327 $ (28,900) Quality VERY GOOD VERY GOOD VERY GOOD VERY GOOD Year Built 1961 1941 1989 $ (20,000) 1986 $ (20,000) Condition GOOD GOOD GOOD GOOD # of Bedrooms 4 4 5 4 # of Baths 205 3.5 $ (4,000) 3.5 $ (4,000) 3 $ (2,000) Basement Area Finished Bsmt 1775 625 $ 23,000 800 $ 19,500 1450 $ 6,500 Walkout YES NO $ 2,000 YES - YES - Fireplaces 2 4 $ (4,000) 4 $ (4,000) 3 $ (2,500) Heat / Cooling CAC - CAC - CAC Garage Size 3 CAR 2 CAR $ 5,000 3 CAR - 3 CAR - Deck YES YES YES YES Porches NO YES $ (10,000) YES $ (15,000) YES $ (15,000) Lot Size 1 ACRE + POND .5 ACRE + POND $ 50,000 .4 NO POND $ 50,000 .3 ACRE WOODED Location PRIME PRIME AVG -GOOD $ 50,000 PRIME - Other 800 SQ FT UNFIN EXP Other NO POOL YES $ (10,000) NO POOL NO POOL Other Other Restrictions Net Adjustment ' :: ....: . :: 78,200 $ 69,000 $ (61,900) Adj. Sale Price Sale Price [!J $ 753,200 $ 751,500 $ 763,100 $ 233.41 $ 192.69 $ 176.36 Assessing Dept. Page 1 4/6/98 IFA a., Wilt E m & a 40, Alma io —10 t-7: 77' -134 k-� S'n 7W 62, As you arrive via the circular drive, you are greeted by a light and bright two -story foyer. A curved Terrazzo stairway leads to the upstairs with a balcony to overlook the foyer. A sitting area with new stone benches and windows accompanies the foyer. Ahead is the dining room which has views of the pond, new lights, windows, blinds and baseboards. r.13i t The living room has been expanded and features new windows with walnut trim, two story vaulted ceilings, stone fireplace and hearth and custom carpets. Excellent views of the yard and pond. A brand new kitchen awaits you. It features custom cabinets by Fieldstone, Corian style countertops, Sub -Zero refrigerator, GE double ovens /cook top, Kitchen Aid compactor and dishwasher. A new ceiling has been installed with new electrical lights, wine racks, new stove end caps, windows and blinds. �o t� 1 4 r. tix,', A n (-w homt` roorn hnc Iv�rn arl /fail to tho lo«,rrr lam. r•1 �_�.___ __ _. •���'` _ -�•��. =gym_•. - �i S. - -�-�� - � ±art._ _ - - _.l, . i i.i :a•- '.'S,. _ NA, ?� -- � / � � ^ate � .1' -.y ._w. r_� �.- `�'.•�"_( . ___.a,,.. Wit.- .- .,.P'a� 1 � � �,�— .�•�-\e S. , i , -rte,. `• =_ �N x �_�� °' -• -� °-� _ ������ 'x.1.4/ hz '�� _ .,. .may- .1 _ „r — `�� " -•t � '.s':7� y- a' ..y •.a! \i� ��1 - .�: -_� vow °'� — � ',•w, �.. ��- J � � '. _ — - � �- •••� yl�. "• :S = ( - �:: �i +- �S.y- .:7.cr y°yr. �f..:. f4� ix�_ _ � � . - � _ - _ - `�'ti;`- -.:•tea.,. _ � � - r ---- -� � �� -z ti = :. r' _ ; - �,.: —+'`.k� :'lilt � - =�Sii' —ar.� �,:� : �.._ ���� •._ •„ _ Case # 23 City of Edina Board of Review 54 " 'AsSessor's~ Commentary . Property I.D. Number: 28- 117 -21 -33 -0038 Date: 4/13/98 Property Address: 5400 VERNON AVE Owner /Agent Name: NORMAN COMPANY, NORMAN BJORNNES, JR. Comments: The subject apartment building was built in 1987 and has 135 dwelling units in three floors over a basement parking garage. The 1998 EMV of $6,600,400 is $48,892 per dwelling unit. Market rents have increased slightly (depending upon sources: 3% - 5 %). The capitalization rates have decreased dramatically as seen in increasing sale prices with little change in income. At this time income statements have not been received. Please note the attached list of recent apartment building sales showing per unit sales of $49,500 and more, and capitalization rates in the mid to low 8% range. This is down from the 9% cap rates seen in 1996. I recommend no change. is.rlw - Reflection 1 Mkt -Land 1998: 540000 1997: 540000: 1996: 540000 Legal Descriplion Mkt -Bldq Mkt -Mach 6U60400 4960300 41100100 LOT 1 BLOCK 1 VERNON OAKS >x> }i }vv 22:R'if.4V:4:: `�.V.�FIRt�IR :logis.rlw- Reflection 1 PROPERTY ID SALE Mkt -Tot Tx Capacity Hd PT 10nrt 6600400 A 0 5500300 A 0 5340100 A 0 mm :C4 Lu —PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5400 1/ VERNON AVE REMARKS CURR 108 NEXT — — - zr tt ...... . :..:..:::..: .:.:..:..:.. . . .... .. : tz: . ............. .. .. f�iirrss •::: «: <:.::<..::..;;:; .... ......... F PROPERTY DATA SYSTEM TAXPAYER INOUIRY CURR 319 PROPERTY ID NEXT Pt.Can: Mt.Adr: HOUSES FRACTION STREET NAME UNIT ZIP *4 Front: Back: 5400':': 1/_ VEtINQN AVE 55436+- Right: Left. Ownerl: VERNON WOODS OF EDINA Owner3:- Owner2: 01-111er4: Zoning: Prim /sec: Yr.blt: 0000 Area: Acres: 5ch.Dst: 273 Wshd: 01 Gr /Us /Ex: Subrecs: 01 Width: Depth: Mkt -Land 1998: 540000 1997: 540000: 1996: 540000 Legal Descriplion Mkt -Bldq Mkt -Mach 6U60400 4960300 41100100 LOT 1 BLOCK 1 VERNON OAKS >x> }i }vv 22:R'if.4V:4:: `�.V.�FIRt�IR :logis.rlw- Reflection 1 PROPERTY ID SALE Mkt -Tot Tx Capacity Hd PT 10nrt 6600400 A 0 5500300 A 0 5340100 A 0 mm :C4 Lu —PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5400 1/ VERNON AVE REMARKS CURR 108 NEXT — — - zr tt ...... . :..:..:::..: .:.:..:..:.. . . .... .. : tz: . ............. .. .. f�iirrss •::: «: <:.::<..::..;;:; .... ......... F City of Edina Assessor's Office 4801 West 50th Street :dina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [fDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: 4/6/98 Owner Name: At2won/ WZ)00 5 nF F COINA Owner Address: -Vol 95 LOV C 1-A .! D 4E Attach I-IT /"Al s documentation Home Phone Number: Business Phone Number: _ o Property Address: 5 `100 ✓6 aNvi✓ xmc Assessor's estimated market value for January 2, 1998: Land: -3 yo Coo Buildings: d, 060, y ov Total: 1, 60cl, yov I believe the estimated market value on January 2, 1998 should be: Land: 482,000 Buildings: 5,403,300 Total: 5,885,300 Purchase Date: 1986 land 'Total purchase Drice (land & bldos.): Year Built: House: 1987 Garage: Additions (Explain): Condition of Structures (Explain): Good Description & value of additions and improvements since your purchase of this property: No improvements since completion other than drain tile in basement garages .. Professional Appraisals, . o . . ............ . Appraisal Date: Indicated Value: FnFain fha+raacnnc feir your ebiectinn fn the: assessor 's:estiated:ir�arket:vatue. 1. We did not sell the property; 2. The adjustment in value should be driven by income changes and changes in the income capitalization rate; 3. The value or income did not increase 20% in one year; 4. The property is 10 years old and carpeting, appliances and other high use /high traffic components are in need of replacement; 5. The year -to -year increase income was approximately $16,000 6. The property's rents lag the market becau low turnover and we have been reluctant to increase rents more than 3 -5% to retain long t mature residents 7. The 77 increase we propose reflects these conditions. I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: dezo-- V RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. of rm PIN: 28- 117 -21 -33 -0038 5400 VERNON AVE VERNON WOODS OF EDINA ATTN: NORMAN P. BJORNNES, JR 401 GROVELAND AVENUE MINNEAPOLIS, MN 55403 -3292 BUILT 1987 BSMT PARKING 2 GUEST SUITES ELEVATORS POOL- OUTDOORS RECENT SALES OF APARTMENT BUILDINGS: DWELLING UNITS: MIX 2380 Larpenteur Ave W S F 1 BR 1A 22 728 1A.1 2 801 1 BR 1B 24 785 1 BR 1C 12 754 1 BR 1D 2 947 1 BR 1E 1 947 1E.1 1 1058 2 BR 2A 45 1051 2 BR 2B /DEN 12 1208 2 BR 2C 12 1123 2 BR 2D 2 1087 TOTAL 135 4/9/98 1 Nov -97 2380 Larpenteur Ave W Built 1987 $4,165,000 Cap Rate: 8.68% Lauderdale 84 d. u. $49,583 sale price per dwelling unit 2 Sep -97 9300 Collegeview Rd Built 1986 $11,200,000 Cap Rate: 8.74% Bloomington 171 d. u. $65,497 sale price per dwelling unit 3 Sep -97 7230 York Ave S Built 1972 $15,285,705 Cap Rate: Edina 260 d. u. $58,791 sale price per dwelling unit 4 Jun -97 11100 Anderson Lakes Pkwy Built 1987 $3,978,360 Cap Rate: 7.99% Bloomington 77 d. u. $51,667 sale price per dwelling unit i > s _�Y-w •_.!.- ��- �1rif4 tisrt - '1�R::y�` �.. ._ rz� i Y .. :. -, .,'.,� �.zr w-a:. -g yy J.' .' �7� � ^u�•°. c.. �� s� a�.5, 43 �•;s ��D-G Mir- PAW r � ''4 •+` - +`• �' �_ _.�. '<.��� �'. R Tai'+:' "r_�' QiIY� _.�F -_ Z_ — <y� Y . t ca- i > s _�Y-w •_.!.- ��- �1rif4 tisrt - '1�R::y�` �.. ._ rz� i Y .. :. -, .,'.,� �.zr w-a:. -g yy J.' .' �7� � ^u�•°. c.. �� s� a�.5, 43 �•;s ��D-G Mir- PAW Case # 23 City of Edina _ Board of Review Commentarytiti41111111141~ Assessor's Commentary Property I.D. Number: 30- 117 -21 -32 -0019 & 30- 117 -21 -33 -0064 Date: 4/13/98 Property Address: 5200 - 5241 LINCOLN DRIVE Owner /Agent. Name: NORMAN COMPANY, NORMAN BJORNNES, JR Comments: The subject apartments are two buildings on two separate tax parcels. However, both appear to be operated as one with a leasing office at 5200 Lincoln Drive. Income and expense statements are usually combined for both buildings with a total of 201 dwelling units. The buildings were built in 1990. They are similar in appearance with three stories over basement parking. Occupants of both buildings have access to the pool and party room facilities. The total EMV is $6,191,500 and $3,455,700 = $9,647,200 which is $47,996 per dwelling unit. Market rents have increased slightly (depending upon source: 3% - 5 %). The capitalization rates have decreased dramatically as seen in increasing sale prices with little change in income. At this time, income statements have not been reviewed. Please note the attached list of recent apartment building sales showing per unit sales of $49,500 and more, and capitalization rates in the mid to low 8% range. This is down from the mid 9% cap rates seen in 1996. I recommend no change. is.rlw - Reflection 1 a: B e 'A3e_ e o 8 viva: ,•.: }{.. }�,iL� vii•::: :::..:: w.v..vvv .w:: nv:•.:x )ijii :�•••vt •.,v:•: v: x::•. .v :•iiiiiiiiii •: ••• , is.rlw - Reflection I t zi i r #E >.` - :PROPERTY.DATA< SYSTEM:. TAXPAYER INQUIRY CURR: 319.: PROPERTY ID': Pt. L'an:: >..:. Ht. Adr:: :::.Y.. HOUSE4 FRACTION..:::::::: STREET NAME :: ,. UNIT ZIP +4 ::::. Frunt ::...... Back SFA'0.> ........................... _............... _ 1 / LT#lCBL1d t1R 55436+: _. Right: Left Oranerl`. LINCOLN DRIVE. PARTNERS -. Oraner3 ;_. -. Oraner2: Onner4: 2oniny Priru /sec::. Yr.blt :. 0000: Area: Acres.— . 5ch':Ust 270 <` Wshd:::01 (;r/Us/Ex: ,'r::.5ubrecs: 01 Width:: Depth. Mkt: Land Mkt -Bldg Mkt -Mach Mkt -Tot. Tx Capacity : Hd.PT XOwi 1998c: [i45000: - ;; 5546500 6191500:; -.. 19973 645000 151,160D.. 5159600 A 0 1996:.. 645000' - 4364400 5009400 A 0 Leyal Description - LOT DLOCK 2. -- INTERLACHEN:HILLS :314D ADDITION LOT:' 1 AND: BEG AT NW' COR:.OF: LOT. 2' TH ON AW ASSUMED. BEARING OF: 5 O'DEG 02 MIN W ALONG W LINE,:THOF. 207.17 FT TH 5 89 DEG .58: MIN?E:: DIST; 355: FT : TH. N: 41 ::: MORE;; LEGAL:::::: a: B e 'A3e_ e o 8 viva: ,•.: }{.. }�,iL� vii•::: :::..:: w.v..vvv .w:: nv:•.:x )ijii :�•••vt •.,v:•: v: x::•. .v :•iiiiiiiiii •: ••• , is.rlw - Reflection I t zi i r #E >.` ,C:logis.rlw- Reflection 1 < PROPERTY DATA SYSTEM TAXPAYER INOUIRY PROPERTY ID Pt. Cal) HOUSEu FRACTION:STREET NAME UNIT ZIP *4 Front: 5241::: .. 1/ LIt1C1Lid' DR 55436* Right Oraneri: LINCOLN.: DRIVE:. PARTNERS Onner3; Onner2: O1411er4: Zoning: Pricy /sec:: Yr.blt: 0000 Area: Sch.Ost: 270 Nshd: 01 Gr /Us /Ex: Subrecs: 01 Nidth: Mkt - Land 1990: 360000 1997: 360000 1996: 360000 Legal Description; logis.rl w - Reflection 1 PROPERTY ID SALE DATE_ ................ . CURR 319 NEXT Ht.Adr: Back: Left Acres: Depth:- Mkt - Bldg Mkt -Mach Hkt -Tot Tx Capacity Hd PT !Oran 30957U0 3455700 A 0 2519700 2B79700 A 0 24359110 2795900 A 0 __= NO LOT AND BLOCK GIVEN INTERLACHEN HILLS 3RD ADDITION LOT 1 THRU 5 INCL BLK 1 ALSO BEG AT A PT ON ELY LINE OF LOT 2 BLK 2 DIST 221.41 FT SLY AS MEAS ALONG SAID ELY LINE FROM NE COR THOF TH S 52 DEC 25 ..MORE.LEGAL:... y:.........; ...:... :; .,r::r..,y,,.,:: •::: �: ::i<h::::Y# -PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------- - - - - -- 5241 1/ LINCOLN DR PRICE ............... TYPE OF SALE SALES RATIO REMARKS CURR 10B NEXT . FI- City of Edina 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Assessor's Office Application Date: 4/6/98 IL Attach any supporting documentation Owner Name: Jiivc,oc,✓ Ve,j/a P4jer.,yfas Owner Address: d/ 141ov11k,4 oaor 4M -.5-5J/O Home Phone Number: 942 -0448 Business Phone Number: Property Address: shoo +3ay L i.✓cocni D i dz Assessor's estimated market value for January 2, 1998: 6,/5,000 5�S'He, 5-C 1-1 6 , i 91 1 Soo Land: 360,ccu Buildings: 3,095 700 Total: 3, A15--V, 700 9 647,;.00 1 believe the estimated market value on Januarryy 2 1998 should be: 581,000 4,191,400 5,572,400 Land: 324,000 Buildings: 3,045,700 Total: 3,110,100 Purchase Date: 1990 'Total purchase price (land & bldgs.): Year Built: House: 1991 Garage: Additions (Explain): Condition of Structures (Explain): Good ; some capital projects deferred due to cash flow limits Description & value of additions and improvements since your purchase of this property: No improvements since completion Professional A praisais: (P�esse attach a cap of:any recent appraisals Appraisal Date: Indicated Value: Ex tain.the:reasonsi[or:. oue:ob'ection ta>€he. assessors :estirr�ated.:marketmatue: 1. We did not sell the property; 2. The adjustment in value should be driven by income changes and chnages in the income capitalization rate; 3. The value or income did not increase 207 in one year; 4. The year -to -year income increase was approximately $48,000 ; 5. Other assessors raised our rental property values by 3.37 (St. Paul) to 6.37 (Apple Valley), not even close to the 207 imposed here; 6. The Edina assessor's office has our income and expense figures for 1994, 1995 and 1996 1 believe. There is no reason why the income approach to value is ignored for this adjustment. I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF../ Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. 4/9/98 5200 / 5241 LINCOLN DRIVE VERNON WOODS OF EDINA ATTN: NORMAN P. BJORNNES, JR PIN: 30- 117 -21 -33 -0064 401 GROVELAND AVENUE 30- 117 -21 -32 -0019 MINNEAPOLIS, MN 55403 -3292 BUILT 1990 BSMT PARKING ELEVATORS DWELLING UNITS: POO OUTDOORS 5200/5220 (32 -0019) 5241 (33 -0064) DWELLING UNITS: DWELLING UNITS: MIX SF MIX SF STUDIOS 6 505 1 BR 1A 10 728 1 BR 1A 43 728 1 BR 1B 12 785 1 BR 1B 6 785 2 BR 2A 25 1051 1 BR 1E 6 927 2 BR 2B /DEN 12 1208 2 BR 2A 39 1051 2 BR 2C 6 1123 2 BR 2B /DEN 6 1208 2 BR 2D 1 1087 2 BR 2C 18 1123 3 BR 3A 6 1467 2 BR 2D 2 1087 TOTAL 72 2 BR 2E 3 1425 TOTAL 129 TOTAL BOTH BLDG 201 RECENT SALES OF APARTMENT BUILDINGS: 1 Nov -97 2380 Larpenteur Ave W Built 1987 $4,165,000 Cap Rate: 8.68% Lauderdale 84 d. u. $49,583 sale price per dwelling unit 2 Sep-97 9300 Collegeview Rd Built 1986 $11,200,000 Cap Rate: 8.74% Bloomington 171 d. u. $65,497 sale price per dwelling unit 3 Sep-97 7230 York Ave S Edina Built 1972 $15,285,705 Cap Rate: 260 d. u. $58,791 sale price per dwelling unit 4 Jun -97 11100 Anderson Lakes Pkwy Built 1987 $3,978,360 ce Cap Rate: 7.99% Bloomington 77 d. u. $51,667 sale price per dwelling unit INA '�( LL- ,�• _- r'�- ■ / - i eta .� ra r` _ qo t a INA Case # 27 City of Edina Board of Review Assessor's Commentary M1ti Property I.D. Number: 08- 116 -21 -33 -0142 Date: 4/13/98 Property Address: 7723 TANGLEWOOD COURT Owner /Agent Name: JAMES PLATT, JR - Comments: The subject is one unit of a divided double dwelling, It has been owner occupied since " it was built in 1981. It is very good quality with steps down to living room and also the family room, which has a wet bar. The living room and dining room have cathedral ceilings as do all three bedrooms. There are fireplaces in the living room, family room, master bedroom, and the unfinished basement. Comparable sale # 3 is contiguous to the west of the subject and I believe it is a good indicator of value. Comparable # 1 is close by, but I believe it is of lesser value. This is based on my inspection and the obvious low sale price per square foot unit value of $64.70 per S.F. Other sales that were considered had sale price per square foot values of $86.40, $106.26 and $92.12. I recommend no change. logis.rlw - Reflection 1 i<i'•.` ............... .. ¢z 4': logis.rlw - Reflection 1 PROPERTY ID SALE DATE rtsan r r. r i �r .. r ... .... . . T/ PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 7723 1/ TANGLEWOOD CT TYPE SALES ...:. PRICE OF SALE:::: RATID CURR.10H NEXT REMARKS' :' 1...... tP PROPERTY DATA SYSTEM _. TAXPAYER INQUIRY. CURR 319: PROPERTY ID :. ... NEXT Pt. Cow. Mt.Adr.:;: HOUSE4 FRACTION STREET NAME UNIT ZIPt4` Fran t: Back:: _ _..... ...._ ............ ................. ... T N.91Eti0O0 :GT : 55439* Right: Left: Oraneri : PLATT JR .. JAMES E Oraner3: Oranem2: PLATT p ANNA S Owner4: Zoning:.. Prim /sec:: Yr. bit:.0000: Area: Acres::; Sch,Dst: 227 Nshd:: 01 Gr /Os /Ex: SUbrecs: 01 Hidth: Depth:. . Mkt - Land -.::. Mkt -Bldg Mkt - Mach:~ Mkt -Tot Tx Capacity Hd PT %Oran. 1990:. 20000'::..: 229700: 249700,. H', RZ Jul) 1997: 20000: 219500` 239500::. _ H' R2 100 1996: 200110`:_:;::: .. 210300., 2303UU :... H _, RZ .100 Legal Description : LOT- BLOCK:: 7 - BRAEMAR HILLS 9TW ADDITION THAT PART OF LOT 4 LYING ELY:OF A LINE RUN.FROM -A PT ON S LINE OF LOT 4 DIST 63.63 FT E OF SW CDR THOF TO A PT ON N LINE,THOF:DIST 32.23. FT E OF ..MORE LEGAL i<i'•.` ............... .. ¢z 4': logis.rlw - Reflection 1 PROPERTY ID SALE DATE rtsan r r. r i �r .. r ... .... . . T/ PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 7723 1/ TANGLEWOOD CT TYPE SALES ...:. PRICE OF SALE:::: RATID CURR.10H NEXT REMARKS' :' 1...... tP City of Edina Assessor's Office 4801 West 50th Street +ina, MN. 55424-1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application P.I.D.# &79-//6-2/- 33 -�iyZ oiti Date Returned: Aylz 9,e Time: Received By: Case # 2 :: Fvrcifce use onl ::::::::::::::::::::: . Application Date: Aril 4 1998 Attach any supporting documentation Owner Name: James E. Platt Jr. Owner Address: 7723 Tanglewood Court Home Phone Number: 941 -4919 Business Phone Number: 829 -3827 Property Address: 7723 Tan lewood Court Edina MN Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: $249,700 1 believe the estimated market value on January 2,1998 should be: Ce, Land: Buildings: Total: $213,000 purchase Date: Oct 1981 'Total purchase price (land & bldgs.): $175,000 `r ctur was buil on the abovv,� 1 t completed-in May of 1982. -4ar utlt: House: arage: Addlbons�Expfailn) none Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: none Professio Appraisals: -.: '(Please: attach :a cop oof Aooraisal Date: Indicated Value: Explain: the reasonsfor.your:objection:to the: assessor's. estimated:markeYvalue: Based on the only four properties that have sold within the past two years that are located 1 on the same street and /or (2 ) nearby.. and after making ad'ustments for Location, Ammenities, and Finished Square Footage, I am respectfully requesting that the asses value be reduced to $213,000. 1 DO HEREBY AFFIRM THAT THE OVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. anature of applicant: _A*Ir� RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6. 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. James E. Platt, Jr. 7723 Tanglewood Court Edina, MN 55439 829 -3827 April 4,1998 Mr. Moreau Sankey Commercial Appraiser C/O City of Edina 4801 West 5& Street Edina, MN 55424 -1394 Dear Mr. Sankey: Attached is my revised analysis of my zero lot line twin homes located at 7723 & 7725 Tanglewood Court, Edina, M. I respectfully request that the assessed valuation for these properties be reduced to.... $213,000 for 7723 Tanglewood Court..... and 1617 , �tottrN Sincerely, Q 4.tt, . -7723 Tanglewc Court, Edina, MN- Real Estate Market Evaluation Analysis: Sold Properties ELEMENTS OF COMPARISO P� ►#�P�M]4,�.:slt:1; >:.:, >..;:. >: t?�t�•::::: :.::..:.:....:.. . p�NA# 3C�.. �.:.:. �::::::::.. .:................:.....:.f 23 Tanglewood Court 714 Gleason Rd Adjustment 705 Tanglewood Court Adjustment Vernon Ave. Adjustment 7227 Tanglewood Court d'ustment Tax: Est.Mkt.Val 30,300 229,800 205,900 ,300 $283,300 Tax: Lot Value 0,000 [4,811.92 20,000 20,000 00 $20,000 Tax: Date of Last Appraisal 96 1996 1996 1996 Real Estate Tax: 1995 4,799.66 5,760.52 3.06 $6,110.86 Sale Price /EMV Ratio 0.50% 0.82% % 104.84% Value: Sale /EMV Ratio $185,403 $209,160 $222,632 $241,437 : ......... ...........................................:.. .. .. :.....:...::::::::::::::::::::. Sale Price $185,000 $187,000 $270,000 $297,000 Market Time 48 Days 120 Days a s 108 Days Date of Sale 1/20198 7/09/97 /22/96 3/29/97 ost/Finished SO.FT. $71.15 1$57.36 1$78.37 $69.62 Location Busy Corner $10,000 Similar -Same Street Similar Similar -Same Street uality of Constr. Average Similar Similar Similar Similar ge 1982 1984 1980 1979 1980 ondition verage Similar Similar Similar Similar Lot Size ero Lot Line Similar Similar Walkout ($1,500) Similar $15,000 Finished Below Grade SOFT. 00 $8,800 45 ($50,500 1260 ($87,700 Finished Above Grade SOFT 794 600 $13,800 060 ($15,300) 800 $0 3006 ($14,800) Heating FA Similar Similar Similar Similar oolin A Similar Similar Similar Similar arage T.U. Double Attached ($2,500) Car T.U. $2,500 Aft. ($5,000) 2 Car T.U. $2,500 Exterior Siding Similar Similar Similar Similar Fire laces $0 $1,000 Similar Similar Baths (1- Full,1- 3/4,1 -1/2) V(2-1/2) ($1,000) (1- Full,1 -3/4,2 -1/2) Similar (3- Full,1 -1/2) $0 alue Based on Actual Sales $205,300 $184,000 1 $213,000 1 $212,000 es E. att, V 7 '7d City of Edina Board of Review Address 7723 TANGLEWOOD COURT PID # 08- 116 -21 -33 -0142 Case # 27 Assessing Dept. Page 1 4/10/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 7723 TANGLEWOOD 08- 116 -21 -33 -0142 7705 TANGLEWOOD ► 08- 116 -21 -33 -0136 6414 VERNON AVE 31- 117 -21-42 -0051 7727 TANGLEWOOD 08- 116 -21 -33 -0132 Sale Date Aug -97 Feb-96 May -97 Sale Price $ 187,000 $ 270,000 $ 297,000 Time Adjustment $ 3,740 $ 10,800 $ 7,400 Adj. Sale Price $ - $ 190,740 $ 280,800 $ 304,400 Price / Sq Ft $ - $ 66.00 $ 136.18 $ 108.91 Style 2 STORY DOUBLE 2 STORY DOUBLE CONTEMPORARY MULTI CONTEMPORARY MULTI 1 st Floor Area 1 1,5841 1,530 1,383 2,795 2nd Floor Area 1,1701 1,360 679 _ Total Sq Ft 2,754 2,890 $ (6,800) 2,062 $ 34,600 2,795 Quality VERY GOOD GOOD $ 50,000 VEY GOOD VERY GOOD Year Built 1981 1980 1979 1979 Condition GOOD AVG - GOOD $ 5,000 GOOD GOOD # of Bedrooms 3 3 3 3 # of Baths 21/2 21/2 21/2 21/2 Basement Area 1684 1530 1383 1402 Finished Bsmt 240 $ (7,200) 1200 $ (36,000) 1330 $ (39,900) Walkout NO NO YES $ (10,000) NO -EXIT ONLY $ (3,000) Fireplaces 4 $ 3,000 4 4 Heat / Cooling CFA/CAC GFA/CAC GFA/CAC GFA/CAC Garage Size 3 CAR ATTACHED 2 CAR TUCK UNDER $ 5,000 3 CAR ATTACHED 2 CAR ATTACHED $ 2,500 Deck LARGE YES LARGE LARGE Porches YES NO $ 5,000 YES YES Lot Size AVERAGE AVERAGE AVERAGE AVRAGE Location GOOD GOOD ON THRU ST. $ 15,000 GOOD Other NO POOL NO POOL NO POOL SHARED POOL $ (5,000) Other ON CREEK $ (40,000) Other Other Restrictions Net Adjustment $ 54,000 $ 36 400 ( ) $ (45,400 Sale Price Ad'. Sa 1 $ 244 740 $ 244 400 $ 259 000 Sale Price [I $ 84.69 $ 118.53 $ 92.67 Assessing Dept. Page 1 4/10/98 .. �: � . . d: - 4 • ~�• �--r- - _ • ... � _-�' _e'er" r.�.{ � �r .m'at'1 � 'e =.' .. � _ °ter. ��� �+ � `` f � � ; ijJ e �i, a�,.,> �w .! � f . /-q a� ."jI r, y .x. � �'� � r -_ ��'- k� S l y �.F- �'r��,� �Y.�j�.Ty�� �°:.r'`� .K :r d��� � :.x f � a ,ice �4t5 �,• � �; �'..n ya 'tf. � �� �J��..L �� �J�+ .� �,y ��'�: � j,.+ James E. Platt, Jr. 7723 Tanglewood Court Edina, MN 55439 829 -3827 April 13,1998 Mr. Moreau Sankey Commercial Appraiser C/O City of Edina 4801 West W Street Edina, MN 55424 -1394 Dear Mr. Sankey: Based on our conversation last Friday, attached is my revised analysis of my zero lot line twin home located at 7723 Tanglewood Court, Edina, M. I am basing my analysis on the fact that: (1) I have been a resident of Tanglewood Court since December 1979. (2) I have been licensed in Real Estate since October 1976. (3) I have been a licensed Real Estate Broker since September 1978. (4) I hold the CCIM (Certified Commercial Industrial Member) professional Real Estate Designation. (5) I have sold three properties on Tanglewood Court. I respectfully request that the assessed valuation for this property be reduced to $236,960. Sincerel i �� ames E. Platt, Jr. VQC - '+/ (:�'/ ? �? Go,- % -0 P, Real Estate Market Evaluation Analysis: Sold Properties ELEMENTS OF COMPARISO BJiw C1:.# ��OPE�i�:'. �::::. .: ......... .:..:�A#?A:R;t�3L� : #�.::.:::::: E� :......:.........,...................... tln 3� .G. .iA }:�iiiii:• >::. ............................... :'r:i:i:::::::::::i::::y:: :o>i:.:.:.>;:;.:::>:i:. .:...:. �`�... ,....�.......�.:fI:,+7.:::. : 17iMC.::::::::::...:...... r •!�.[?TK2...................... .............:.....:.. 723 Tanglewood Court 714 Gleason Rd Adjustment 705 Tanglewood Court Adjustment 14 Vernon Ave. Adjustment 7727 Tanglewood Court d'ustment Assessed Value 1997 r.. $239,500 $229,800 $205,900 $279,300 $283,300 Sale Price $185,000 $187,000 $270,000 $297,000 Market Time 48 Days 120 Days 129 Days 108 Days Date of Sale 1/20/98 /09/97 /22/96 3/29/97 Cost/Finished SQ.FT. 71.15 7.36 78.37 $69.62 Location Inferior Location ' $30,000 milar -Same Street [E5 Similar Similar -Same Street uality of Constr. verage Similar milar Similar Similar ge 1982 1984 80 1979 1980 ondition verage Similar Similar Similar Similar Lot Size ero Lot Line ISimilar Similar alkout ($15,000) Exit from Lower Level ($10,000) Finished Below Grade SQ.FT. 0 200 ($5,000) FL45 $16,125) 1260 ($31,500) Finished Above Grade SQ.FT 794 2600 $8,730 3060 ($11,970) MGM 0 $0 3006 ($9,540) Heating FA Similar Similar ilar Similar Cooling A Similar Similar Similar Similar Garage Car Built -In Double Attached $5,000 Car T.U. $15,000 Att. 2 Car Built -In $5,000 Exterior Siding Similar Similar Similar Similar Fireplaces $1,500 Similar Similar Swimming Pool None Similar Similar Similar Yes ($7,500) Baths (1- Full,1- 3/4,1 -1/2) (2- Full,1 -1/2) (1- Full,t- 3/4,2 -1/2) $1,500 Similar 4 (3- Full,1 -1/2) $6,500) alue Based on Actual Sales I i $230,230 1 $186,530 1 $238,875 1 $236,960 Adjustments Finished Square Footage Lower Level: $25 /SgFt UpperLevel: $45 /SgFt 03/25/98 15:43 Sold Condo /Townhouse Page: 1 LIST# ADDRESS AR SUB S -PRICE DATE MT FSZ BR BA STYLE RF# - - - - - -- 1155251 -------------- 7714 - - - - -- GLEASON RD - -- 385 -- 1 --- - - - - -- 185,000 -- - - - - -- 01/20/98 - -- 548 - - -- 1444 -- 3 - 3 - - - - TWIN - -- HM - -- 1 1249866 7705 TANGLEWOOD CT 385 1 187,000 07/09/97 120 1530 3 3 TWIN HM 2 1150537 6414 VERNON AVE 385 1 270,000 02/22/96 129 1400 3 3 TWIN HM 3 1245915 7727 TANGLEWOOD CT 385 1 297,000 03/29/97 108 1387 4 4 TWIN HM 4 TOTAL CONDO /TOWNHOUSE LISTINGS: 4 AVRG LIST PRICE: 254,675 AVRG SOLD PRICE: 234,750 AVRG MARKET TIME: 226 Criteria: ST= SOLD,COMS AR =385 TYP =2 6= 01/01/96+ 1= 180 -300 18 =E 15= 1979 -1985 25 -MAR -1998 15:43:10 #1 CONDO /TOWNHOUSE - PROPERTY TYPE 2 CT <<< L -$ 209,900 S -$ 185,000 SOLD >>> BR : 3 TBA: 3 FBT: 2 TBT: HBT: 1 QBT: STY: TWIN HM TRM: CON MT : 548 OMD: 01/20/98 FIN: 7 7714 GLEASON RD 0 TAX $ 4,181 /96/F MAP D2 -133 MUN EDINA ZIP 55435 TWA $ AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N CPX 0 HS FOR 1996/ F YBL 1984 -N DIR 78TH TO GLEASON # 1155251 LUXURY LIVING AT ITS BEST!! LG MASTER SUITE W /JACUZZI & FIREPLACE, BEAUTIFUL 4 SEASON ROOM-OFF GORGEOUS KITCHEN, MAIN FL LAUNDRY, 3 -SIDED FPLC IN FAMILY ROOM, 2 PATIOS, NEW EXT. PAINT & LANDSCAPING. GREAT FOR ENTERTAINING -ALL SIZES!! LGL LOT 12 BLOCK 7 BRAEMAR HILLS LOT 0 FEE REF,RNG,DWS,DSP,WSO,MIC FEI OT PET NR BUS,FLT,VAC,SUN,WHP PID 0811621330157 FPL 3,* AIR C WDH,GDN,KIT,VAU L APROX L APROX HEA GR /GAS TRM CON LR M 25X14 Bl U 17X13 EXT HBM MTG INT .000% DR M 14X12 B2 U 14X12 PRK 2,G,A,Y EXF CON OD 0 ASM I KT M 14X10 B3 U 12X12 BSM F,T,S PIN $ MC2 N MA2 N FR M 12X11 ID M 11X10 BBT RI MBT Y APF NONE SDN 273 SDP 928 -2500 FSZ 1,444 AGF 2,600 BGF FSF 2,600 COLDWELL BANKER BURNET 5019 BC 3.15 SA 0 NA 0 JIMMY FOGEL 924 -6204 ER N PHN 612 - 920 -1091 INFO. DEEMED RELIABLE BUT NOT GUARANTEED APT 924 -6262 COPYRIGHT 1997 REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. 25 -MAR -1998 15:43:10 _ ___________________ ______ #3 CONDO /TOWNHOUSE - PROPERTY TYPE 2 CT <<< L -$ 279,900 S -$ 270,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: 1 HBT: 1 QBT: STY: TWIN HM TRM: CON MT : 129 OMD: 02/22/96 FIN: 3 6414 VERNON AVE - TAX $ 4,709/95/F MAP C4 -119 MUN EDINA ZIP 55436 TWA $ 4,709 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N CPX - HS FOR 1995/ F YBL 1979 -N DIR X -TOWN TO GLEASON NORTH TO VERNON # 1150537 WATER'S & BONNER DELUXE TWIN *A MUST SEE * PRIVACY AND SHOWS GREAT! MANY UPDATES & UPGRADES. 3 CAR GARAGE PLUS WORKSHOP, ALL ON NINE MILE CREEK. SEE SUPPLEMENT FOR MORE DETAILS. LGL 273 GLEASON 3RD ADD LOT - FEE REF,RNG,DWS,DSP,WSO,MIC,F /H FEI OT PET NR WSH,DRY,D /P,SUN,WHP PID 311721420051 FPL 4 AIR C WDH L APROX L APROX HEA FA /GAS TRM CON LR M 17X14 B1 U 19X16 EXT B/S MTG INT .000% DR M 14X14 B2 L 14X12 PRK 3,G EXF CON OD 0 ASM N KT M 18X17 B3 L 15X12 BSM W,F,L,D PIN $ MC2 N MA2 N FR M 15X18 OF L lOX 9 BBT Y MBT Y APF VA,FNMA SDN 273 SDP 928 -2500 FSZ 1,400 AGF BGF FSF 3,445 EDINA REALTY, INC 5875 BC 2.7 SA 2.7 NA - CAROL STANDAL 947 -0359 ER N PHN 612 - 944 -7107 INFO. DEEMED RELIABLE BUT NOT GUARANTEED APT 612 - 944 -7107 COPYRIGHT 1997 REGIONAL MULTIPLE LISTING SERVICE OF.MINNESOTA, INC. 25 -MAR -1998 15:43:10 ___ _______________________________ #4 CONDO /TOWNHOUSE - PROPERTY TYPE 2 CT <<< L -$ 329,000 S -$ 297,000 SOLD >>> BR : 4 TBA: 4 FBT: 3 TBT: HBT: 1 QBT: STY: TWIN HM TRM: CON,CIN,SPC,CSH,OTH MT : 108 OMD: 03/29/97 FIN: 3 7727 TANGLEWOOD CT 0 TAX $ 6,111 /97/F MAP D2 -133 MUN EDINA ZIP 55439 -2565 TWA $ 6,111 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP U CPX N/A HS FOR 1997/ F YBL 1980 -N DIR 78TH ST TO GLEASON RD, N TO TANGLEWOOD, WEST # 1245915 CONTEMPORARY TWIN /TOWNHOME BY LANDICO. 4 FPLCS., SKYLITES, LOFT /VAULTS & SUN ROOM. 35'X15' IN GROUND POOL W /SPECTACULAR LANDSCAPING. WD FLRS, MAIN FLR FAM, UPPER LEVEL LAUN, LOWER LEVEL W/2 BEDROOMS, FULL BATH, EXERCISE ROOM AND OFFICE /DEN. LGL LENGHTY SEE LISTER LOT IRREGULAR FEE REF,RNG,DWS,DSP,WSO,MIC,F /H FEI OT PET NR WSH ,DRY,FLT,VAC,SEC,D /P,SUN,POR* PID 0811621330132 FPL 4,* AIR C WDH,GDN,VAU,SKY L APROX L APROX HEA FA /GAS TRM CON,CIN,SPC,CSH,OTH LR M 15X17 B1 U 19X15 EXT WOD MTG INT .000% DR M 14X10 B2 U 19X12 PRK 2,G,A,Y EXF CLR OD 0 ASM N KT M 15X10 FR M 20X16 BSM W,F,L,E PIN $ MC2 MA2 SR M 18X16 DN U 15X10 BBT Y MBT Y APF FNMA,FHLLB SDN 273 SDP 928 -2500 FSZ 1,387 AGF 3,006 BGF 1,260 FSF 4,266 COLDWELL BANKER BURNET 5116 BC 3.15 SA 0 NA 3.15 ED BELL 925 -8280 ER N PHN 612- 920 -5605 INFO. DEEMED RELIABLE BUT NOT GUARANTEED APT 612- 920 -4949 COPYRIGHT 1997 REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. 26 -MAR -1998 11:54:59 #1 Hennepin COMPLETE Tax Report PID # 0811621330157 PROPERTY TYPE: RES. -ZERO LOT --------------- - - - -- Property Information TAX YEAR: 1997 ADDRESS 7714 GLEASON RD CITY /TWN : EDINA ZIP: 55439 -2562 MAIL CITY : EDINA SCHOOL DIS : EDINA ADDITION : BRAEMAR HILLS 09TH ADDN LOT: 12 BLK: 7 LEGAL DESC : THAT PART OF LOT 12 WHICH LIES SLY OF FOL DESC LINE AND ITS EX PARCEL SZ : IRREGULAR ACRES .00 YEAR BUILT : ------------------------------------------------------------------------------- Owner /Taxpayer Information ------------------------------------------------------------------------------- OWNER NAME: GRANGER WILLIAM T , II JT OWNER : TAXPAYER : WILLIAM T GRANGER III ADDRESS : 7714 GLEASON RD : EDINA MN 55439 -2562 ------------------------------------------------------------------------------- Market Values Taxes - Effective 1997 Subrecord Values ------------- - - - - -- ---------------- - - - - -- ------------------------------- LAND : 20,000 BASE TAX : 4,755.96 WATERSHED: NINE MILE CREEK BLDG : 209,800 TAX W /ASSMT: 4,799.66 DELINQUENT: CURRENT TOTAL: 229,800 GREEN ACRES /OPEN SPACES: NO ------------------------------------------------------------------------------- Sales ------------------------------------------------------------------------------- RECENT DATE : 11/27/95 PREVIOUS DATE : 05/17/91 RECENT PRICE: 210,000 PREVIOUS PRICE: 192,500 RECENT CODE : WARRANTY DEED PREVIOUS CODE : ------------------------------------------------------------------------------- Dwelling Characteristics ------------------------------------------------------------------------------- Gross Sq Ft Bldg Style Stories First Flr SF Bldg Shape Secnd Flr SF Bldg Cond N/A Year Built Bldg Constr N/A Bedrooms Roof Type /Cover: N/A / N/A Baths Ext Wall N/A Family /Livg Rm: / Gar Cap /Type /Sf: Dine /Othr Rm / Deck /Patio Sf / Kitchen Porch O /S /G Sf : Fireplaces Pool /Pool Sf / Heat : Lot Width /Depth: 0/ 0 Air Lot Zoning >>> ROOM SCHEDULE <<< 26 -MAR -1998 11:56:27 _ ________________ - _-- __________ #1 Hennepin COMPLETE Tax Report PID # 0811621330136 PROPERTY TYPE: RES. -ZERO LOT TAX YEAR: 1997 --------------- - - - -- Property Information ADDRESS 7705 TANGLEWOODS CT CITY /TWN : EDINA ZIP: 55439 -2565 MAIL CITY : EDINA SCHOOL DIS : EDINA ADDITION : BRAEMAR HILLS 09TH ADDN LOT: 8 BLK: 7 LEGAL DESC : THAT PART OF LOT 8 BLR 7 BRAEMAR HILLS 9TH ADDN LYING NELY OF PARCEL SZ : NW52X116X57X138 ACRES .00 YEAR BUILT : ------------------------------------------------------------------------------- Owner /Taxpayer Information ------------------------------------------------------------------------------- OWNER NAME: GABRICK NORMAN M JT OWNER : TAXPAYER : ADDRESS : 7705 TANGLEWOODS CT : EDINA MN 55439'- ------------------------------------------------------------------------------- Market Values Taxes -- Effective 1997 Subrecord - Values ------------- - - - - -- LAND : 20,000 ---------------- BASE TAX - - - - -- 5,721.36 ------------------------------- WATERSHED: NINE MILE CREEK BLDG : 185,900 TAX W /ASSMT: 5,760.52 DELINQUENT: CURRENT TOTAL: 205,900 GREEN ACRES /OPEN SPACES: NO ------------------------------------------------------------------------------- Sales ------------------------------------------------------------------------------- RECENT DATE : 08/29/97 PREVIOUS DATE : 07/12/89 RECENT PRICE: 187,000 PREVIOUS PRICE: 182,500 RECENT CODE : WARRANTY DEED ------------------------------------------------------------------------------- PREVIOUS CODE : Dwelling Characteristics ------------------------------------------------------------------------------- Gross Sq Ft Bldg Style Stories First Flr SF Bldg Shape Secnd Flr SF Bldg Cond N/A Year Built Bldg Constr N/A Bedrooms Roof Type /Cover: N/A / N/A Baths Ext Wall N/A Family /Livg Rm: / Gar Cap /Type /Sf: Dine /Othr Rm / Deck /Patio Sf / Kitchen Porch O /S /G Sf : Fireplaces Pool /Pool Sf / Heat Lot Width /Depth: 0/ 0 Air Lot Zoning >>> ROOM SCHEDULE <<< 26 -MAR -1998 11:57:05 #1 Hennepin — _ 1 Hennepin COMPLETE Tax Report PID # 3111721420051 PROPERTY TYPE: RES. -ZERO LOT TAX YEAR: 1997 ------------------------------------------------------------------- Property Information - -. ------------------------------------------------------------------ - - - - -- ADDRESS 6414 VERNON AVE CITY /TWN : EDINA MAIL CITY : EDINA SCHOOL DIS : EDINA ADDITION : GLEASON 3RD ADDN LEGAL DESC : NELY 53 FT OF LOT 1 PARCEL SZ : 53 X 165 YEAR BUILT : S ZIP: 55436 -1821 LOT: BLK: 1 ACRES .00 -------------------------------------------------------- Owner Taxpayer Information --------------------------------------------------------------- OWNER NAME: AKINS M & W G JR JT OWNER : TAXPAYER : MIRA & WILLIAM G AKINS JR ADDRESS : 6414 VERNON AVE S : EDINA MN 55436 -1821 ------------------------------------------------------------- Market Values Taxes - Effective 1997 Subrecord Values LAND : .25,000 BLDG : 254,300 ---------------- BASE TAX TAX W /ASSMT: - - - - -- : 5,453.90 ------------------------------- WATERSHED. NINE MILE CREEK TOTAL: 279,300 5,503.06 DELINQUENT: CURRENT GREEN ACRES /OPEN SPACES: NO -------------------------------------------------------------- Sales . ----------------------------------------------------------- RECENT DATE : 03/11/96 PREVIOUS DATE : 10/29/91 RECENT PRICE: 270,000 PREVIOUS PRICE: 226,000 RECENT CODE : WARRANTY DEED PREVIOUS CODE : ------------------------------------------------------------ Dwelling Characteristics ------------------------------------------------------------- Gross Sq Ft : Bldg Style Stories First Flr SF Bldg Shape Secnd Flr SF Bldg Cond N/A Year Built Bldg Constr N/A Bedrooms Roof Type /Cover: N/A / N/A Baths Ext Wall N/A Family /Livg Rm: / Gar Cap /Type /Sf: Dine /Othr Rm / Deck /Patio Sf / Kitchen Porch O /S /G Sf Fireplaces Pool /Pool Sf / Heat Lot Width /Depth: 0/ 0 Air Lot Zoning >>> ROOM SCHEDULE <<< 26 -MAR -1998 11:53:15 ___ _______________________________ #1 Hennepin COMPLETE Tax Report PID # 0811621330132 PROPERTY TYPE: RES. -ZERO LOT * TAX YEAR: 1997 --------------- - - - -- Property Information ADDRESS 7727 TANGLEWOOD CT CITY /TWN : EDINA ZIP: 55439 -2565 MAIL CITY : EDINA SCHOOL DIS : EDINA ADDITION : BRAEMAR HILLS 09TH ADDN LOT: BLK: LEGAL DESC : THAT PART OF LOT 3 BLK 7 BR.AEMAR HILLS 9TH ADDN LYING SELY OF PARCEL SZ : IRREGULAR ACRES .00 YEAR BUILT : ------------------------------------------------------------------------------- Owner /Taxpayer Information ------------------------------------------------------------------------------- OWNER NAME: NELSON KATHRYN S JT OWNER . TAXPAYER . ADDRESS : 7727 TANGLEWOOD CT : EDINA MN 55439- ------------------------------------------------------------------------------- Market Values Taxes - Effective 1997 Subrecord Values ---------- --------- ---------------- - - - - -- ------------------------------- LAND : 20,000 BASE TAX 6,056.98 WATERSHED: NINE MILE CREEK BLDG : 263,300 TAX W /ASSMT: 6,110.86 DELINQUENT: CURRENT TOTAL: 283,300 GREEN ACRES /OPEN SPACES: NO Sales RECENT DATE : 08/18/97 PREVIOUS DATE : 10/20/92 RECENT PRICE: 297,000 PREVIOUS PRICE: 261,000 RECENT CODE : WARRANTY DEED PREVIOUS CODE : ------------------------------------------------------------------------------- Dwelling Characteristics ------------------------------------------------------------------------------- Gross Sq Ft Bldg Style Stories First Flr SF Bldg Shape Secnd Flr SF Bldg Cond N/A Year Built Bldg Constr N/A Bedrooms Roof Type /Cover: N/A / N/A Baths Ext Wall N/A Family /Livg Rm: / Gar Cap /Type /Sf: Dine /Othr Rm / Deck /Patio Sf / Kitchen Porch O /S /G Sf : Fireplaces Pool /Pool Sf / Heat Lot Width /Depth: 0/ 0 Air Lot Zoning >>> ROOM SCHEDULE <<< Case # 3 City of Edina Board of Review Assessor's Commentary~ Property I.D. Number: 07- 028 -24 -13 -0040 Date: 4/13/98 Property Address: 4015 LYNN AVE Owner /Agent Name: IRVING AND CHARLOTTE NYDELL Comments: Petitioner mailed copy of refinance appraisal, which was reviewed by Assessors Office. The 1998 EMV of $137,200 is close to Refinance Appraiser's value. The Refinance Appraiser used comparable sales located near Lake Street in St Louis Park and makes no adjustment for location. Two messages were left at the Refinance Appraiser's phone number, but he has yet to respond. The subject property was reviewed by our office in 1994 and given a $7,900 reduction at that time, as well as another $2,400 reduction for the 1996 assessment. No further reductions recommended. is.rlw - Reflection 1 L::ti<titi ': •;n'i +� Vii• \4t::': x ? :i : :t {; :.: : }Y•:i�•`. .A ! CJiiiiti"iiii \v : :.v: v"�'`aaviL } :: •.: �rih iii• 't? logis.rl w - Reflection 1 EMARKS' CURR 108 NEXT : z ss ss~vsssss ssss ...........:...:: . : ttt : : :. } :: taz•.t.:t::zzz. �� :stssssssss" m Mkt- Land;: ::: - -PROPERTY DATA :SYSTEM< Mkt -Tot Tx Capacity Hd PT Min TAXPAYER.INOUIRY: 1123U0: : 137200 PROPERTY- ID R: IUD 1997: =NE 104600 129500 H, R 100: 1996 24900 102100;:: _. 1270UU Pt.Con:- Mt.Adr: HQUSEtI',FRACTION'' STREET" NAME.: UNIT ZIP +4: Front: Back:_ 40 1/ fYtEN iaVE 55416 + :. Right:.. Left: OranerI;,NUDELL,' IRVINE: G Oraner3. ' Owner-2: NUDELL' ' :'' CHARLOTTE E Oraner4i ". Zoning: : -D. Prim /sec:- Yr. bIt: 1952. Area: Acres: .DO Sch.Dst: 273- llshd: U3 Gr /Us /Ex: ., Subrecs: 01 Width: Depth: L::ti<titi ': •;n'i +� Vii• \4t::': x ? :i : :t {; :.: : }Y•:i�•`. .A ! CJiiiiti"iiii \v : :.v: v"�'`aaviL } :: •.: �rih iii• 't? logis.rl w - Reflection 1 EMARKS' CURR 108 NEXT : z ss ss~vsssss ssss ...........:...:: . : ttt : : :. } :: taz•.t.:t::zzz. �� :stssssssss" m Mkt- Land;: ::: - .Mkt -Bldg Mkt -Mach: Mkt -Tot Tx Capacity Hd PT Min 249U0::i's 1123U0: : 137200 H. R: IUD 1997: 24900 104600 129500 H, R 100: 1996 24900 102100;:: _. 1270UU H: R`: 1U0 Description,:.: LOT 17 BLOCK :: 2: .Legal. "MINIKAHDA VISTA,.. THIRD: ADDITION;. L::ti<titi ': •;n'i +� Vii• \4t::': x ? :i : :t {; :.: : }Y•:i�•`. .A ! CJiiiiti"iiii \v : :.v: v"�'`aaviL } :: •.: �rih iii• 't? logis.rl w - Reflection 1 EMARKS' CURR 108 NEXT : z ss ss~vsssss ssss ...........:...:: . : ttt : : :. } :: taz•.t.:t::zzz. �� :stssssssss" m , MR 2 � 19g8 City of Edina Assessors Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [fDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: -1/;?/// Attach any supporting documentation Owner Name: Irv/,-,I Owner Address: 101S' I- n n Home Phone Number: qx6 7,3-7 Business Phone Dumber: Property Address: ''/01 S / �s Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: Z 60 1 believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: 132- 00b Purchase Date: 14 67 �' Total purchase price (land & bldgs.): / 3 ,50 U Year Built: House: 'S2 Garage: Z Additions (Explain 58 em,6 ) Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: 6 ce slsr.� s /lQ v-�9tc(.G2A�yn� G� " CO"rl 3G C �/G�*,�.� 6S-/n Professional A raisais: Pease attach a .co of inn recent a raisls �' �"' P f P Y PP Appraisal Date: a//+ �q F Indicated Value: E�ptain >ttie:i-easonsfei. our:obiectiontaihe. assessors .:estirnated:market:value: :: 6Le, &,?j4vrc l..nC zc, ,r, ce , 7/e 54 - -- 2e w -4)(P-z 1 /lam s �Q lr. e r..o'l a w� C-Ij n m 3 /efs Au" 6 1 ,G nu i9w N'tr z . I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE 13EST OF MY KNOWLEDGE AND BELIEF. ., Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. Loan. i_59294407 prep ri Oascri lien UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 5717519i,- Pronefly Addreu 40 5 I vnn avr nijP .,. 17.44 — A legainascuptionLot 17 Block 2 Minikanda Vista 3rd Addition Mornin side Cuunt•Hennepi Aliessor's Parcel No. 07-028-24-13-0040 Tvs Yeaf 97 R.E. Taxes: 93.78 edalA statements f none Burruwar Irvin &Charlotte Nudell currontOwner same 0ccv ant Owner Tenant Vacant Pru err ri htso raised Fee Sim le Ll Leaseluld I Project T a PUD Condominium HUDIVAonI HOAS NAIMo. NuipliborhoodurProjeciNamo NA Map Rateralce Hudson De 78-48 Census Traci MSA#5 20 23 Sole Prices NA Date of sale NA Description and f amount W loan char e)uvucessions k7 be Bid b leper Mn LunderiClised8anc One Mortgage Corp Address 1600 E Northern Ave Phoenix. AZ 85020 ' Appraiser Howard W- Tr1 s Address 20720 AZtee St. N.W Anoka MN 5 3 Lucabon Urban Suburban Ru"I Buell up Over 75% 2S.75% Under 2S,A Orowth'ate ❑Rapid :table Slow Properly values ❑ Increasing Stable Declining Demandl6upply Shortage ® hbalanco Over s wy Marketi m -6 m Over 6 mos. Predominant occupancy ''��,,11 tplOwner ❑ Terms ® Vacart(0.57a .nu s.. ss Single family housing PRICE AGE sP -1 fw.l 119 Low 4 Present land use % One family Y 91 2.4lamlly Multi -lamely 1 Land use change Nnllikely Likely In process To; 167 Hi 69 `r Predomi an � i Commercial 8 13 4$ agr i Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries And characteristics: The neighborhood is bounded bv Excelsior Blvd on the north Mornin side Road on the south Hijrhwav 100 on the west and rance Avenue on the east FACLnns that affect the marketability of the properties in the neighbnrhnnd (proximity In employment And amenities, employment stability, appeal to market, etc.): See Attached Addendum Market conditions in the subject neighborhood (including support for the Above conclusions related In the trend of pfnparly values, demand l supply, and marketing time .. such as data on competitive properties for sale In the neighborhood, description of the prevalence of sale$ and financing concessions, etc.): This is a summary appraisal re ort. Recent available financine is attractive with the low rates and market time is also effected bv this. Typical homes in this neiizhborhood s 1 within three months indicatinjZ a good market lace for the subject. This has remained fairly stable over the Past six month Period. This community h s shown a listing rice to sales ri ratio of approximately 98% over this time which indicates a stron and stable market. _ Projectlnlormation for PUD s (if applicable) .. Is the developer I builder in control or the Home 0wners ' Association (HOA)7 YES NO Approximate total number nt units in Ws subject project Approximate total number of units for sale in the sub -pct project Describe com m tc and recrealionatl lacill Dimensions 49 x 135 site area 6615 SO. Ft. Corner Lpl Yas No Specific znrdngclassikcnbnnanddescripbnn sin le family residential Zoning compliance ® Legal LLSplrmmrlamhg(Gradaheraduse) Illegal No zoning Hi eslabesluseasim roved: Presentuse Other use I-xviaini Topography rolling Size conforming Shape rectangular Drainage to the cur View Of similar homes Landscaping sad & shrubs Driveway Surface concrete Apparent easements std ut i lit drain FEMA Special Flond Hazard Area Yes No FEMA Zone Map Dale no FEMA Man No. none Utilities Public Other Electricity 100 amp Gag Wnler Sanitary sewer Storm fewer Off•tltelmprovemenls Type Public Pit ate Street asphalt ® Curblgutler concrete Sidewalk none _ ❑ :traeliigi :c ;,^ the t ry —s X Alley none Comments (apparent adverse easements, encroachments, spectral assessments, slide areas, illegal or legal nonconlorming zoning, use, etc.); SeeAttached Addendum. GENERAL DESCRIPTION No, of Units Nn. nl stories 1 T ype(De1.lAtl.) detached De sign (Style) rambler Exisling)Propoced existing Age(Yrs.) 46 Effective A er Yr . 15 EXTERIOR DESCRIPTION FoundaUcn COnc block Exterior Walls steel Roof Surlace Comp Gutters A Dwnspls. aluminum Window Type dbl bun StminiScreens e9 e9 Manufactured ouse no FOUNDATION Slab Crawl space Basement 00 srmppump none Dampness none noted Se III ement none noted Infestation none noted BASEMENT Area Sq.FI. %Finished 50% Calling teXtured Walla anel Floor e r t outside Entry es INSULATION faool Calling concld Walls con ® ®® Floor ❑ None 8 use.es e ROOM$ Basement = Fairer Li ving Nilchen Dm Famil Rm. Rec.Rm. 1 B rooms 0Baths 5 Lauhdr 1 Other Are .Ft. 5 Level t L vel 1 1 1 3 1 1.312 in h r a b rai — ' INTERIOR MaterialslCmditnn Flyers Car HdWd C Walls sir Well A Trim /Finish Oak A BAlh Floor eer ti le A Bath Wainscot C r ti le A Donis Oak A Additional leaturea (special energy ellici cot 6 o HEATING Type F 3 Bedroom c; KITCHEN EQUIP. ATTIC Refrigerator ❑ None RAngelOven ❑ Stair$ [4cpnsal _vXn� Drop Di shwagher LA1 Scuttle Fan)Hnnd E) Floor MicrnwAve ❑ Heated Washer/Orver Finished Addendum. 1 Bath 1�1 D Stair n I�AJI ❑ Fence ❑ Pool n I t' 2 5gu ire AMENITIES Fireplace(s) z 1 ® Patin I7T Deck Porch _ ` -- sec ;v stem Feet or Gross CARSIORAGE: None ❑ Garage gnlcars gllA�^ ?A 1 I Detached •_— Built -In 1 Carport OfIvewav 2 Fuel a9 Cpdtivn QV� _ COOLING Cerhlral es Other no CordvondV E. items, etc.): See Attached Condition of the imprnvements, depreciation ( physical, lunchnnal, and external), repairs needed, quality of construction, remodelingladdilinns, etc.: A functional floor Dlan with no inadequacies noted or repairs nee ed Adverse environmental conditions )such as, but not limited in, hazardous wAsles, Inxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of the subject property; No adverse conditions were noted on the sub 'ect'9 site or in the sub'ect's nei hborhood. .4o.e..i.re7$ $.0 Vef.G n War $.$x File No. 57175192 Lender's Service, Inc., an Appraisal Management Company Valualinn Section UNIFORM RESIDENTIAL APPRAISAL REPORT ESTIMATED SITE YAL111; • f 31 00 comments on Cull Approach Isuch as, source of cost estimate. ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: Dwelling 1.312 Sq. Ft. 01 69.00 • s 90.528 Bsmt. 576 SU Ft. ®f 16.00 = 9.216 FP ecS s W 7 550 site value, Wuure foul calculation and for HUD, VA and FmHA, lire estimated remarruna ecarem'c life of the property): Cost calculations were obtained from the Marshall & Swift Residential Cost Manual Garag•ICarwn 264 Sq. Fl. ® f 22.00 e 5-808 Tutal Estimated Cost New . f 113 .102 Las; Physical Functional Etilenal I I Depreaaum 13% •• f 14.703 Depreciated Valueul improvements, . ..... ...........• It 98. 99. 'A s•i s' V alue of Site improvements .... • s 4.8001 INDICATED VALUE BY COSTAPPROACH e f 134.2001 ITEM I SUBJECT I COMPARABLE NO. 1 COMPARABLE NO 2 COMPARABLE NO. S 4015 Lynn Avenue Address Edina 12931 Vernon St Edina 2756 Alabama Dr Edina 2725 Inglewood Ave Edina Frusimu losebeel :. : ;� ;:�: >':r: : ::::::::::::: mile.... mile I mile Sales Price 121,900 f 134 140 900 Ptical Grass Liv. Area f 58 0 :i:>:�:':'.::'5: ; ;':::::i2:: i 1 3 � Data and lm V orifi cation Sauces inspection MILS 81275691 MLS {1281729 MLS 41266027 V AL LE ADJUSTMENTS DESCRIPTIOI! DESCRIPTION .!L!dk-m-1 DESCRIPTION sega•em -e DESCRIPTION .i, sy •�,.� aalas orFinancing Crncs@oom :NA:3>i ;:i< »:3:f >>i a >�:15 C,nv des s Conv 48 days Cony IRA did s oafemsalelTimeN 08/15/97 10/09/97 p Location avjz aviz av g av — Lwsdddlfnesrrde Fee Sim le If ee simple fee simple fee simple ale 49 x 135 160 x 154 70 x 126 80 x 134 View of homes Isimilar similar similar DB;I andApoeal rambler q rambler A rambler /A rambler /A OrrJt alwreaumr:+ Average Avera Average Avera A e 46 9 48 64 Candihon A ra !Avera Average Avera Above Grade Room Count tiros@ Llein Area BasomeI&Firsded R00M I Below Grade function :l U61it Heatin l coolln Eire Effioetllems Oara altar oil Put ch. Patio, Dock, Fir tattle etc. T.I.I : e /s. ' 8.0• jT.i.1 : ad-,' e.lh• 3: 1 1 200 . Ft. +2 200 473 +500 Fm/Den/8a AVere CFA CAC std a ui ment: 1A +500 Season por -1.500 7.1.1 : a /ten ' 9.Ih. 6 3 1 15 . Ft. +1 900 100% 512 +300 FmRm Ba Average CFA CAC std a ui ment' 2A -2-000 deck /2FP -1.500 T.1.1 : tam• ' e.n. —500 8' 4 1 -500 1 36 . Ft. 100% 390 +900 Rec Ba AVere CHW CAC std equipment: 2D -2 000 FP /3SeaPor -3.500 3 1 312 . Ft. 100% 576 1100% Rec Ba Lau Average CFA CAC std equiD 1A 18I FP Fence f . .:.. "R' i rri a !None Kit. E ui DW Secs Nel Ad. lolall Adp9led +500 DW + 000 ' f 0 '4 None +500 DW ..3 ' f None + 0 + 1.100 • ' f 4 Sales Price of Comparable : ,.... -- - .;: ('0519 8. '�, •: ;. !: f CN09S.. rammenll on Eats@ Comparison (including the narbfact propwtV's compatibility to His neighborhood, etc. ): See Attached Addendum ITEM I SUBJECT I COMPARABLE N Data, Price and Data NA NA Source for poor sales COMPARABLE NO. 2 COMPARABLE NO f NA NA iwan . anal Analysis or any alrreN agreement of sale, option, or it sung of fie abject properly end onayds of any prior sale• W abject and comoarables whin are year of ahedate of apprmeal: No other sales of the sub'ect or tom arables were located within the Past twelve months INDICATED VALUE BY SALES COMPARISON APPROACH. _ .... _ _ _ ...... . . , t OO ................. ..... M DICATE D VALLI E BY INC O ME APPROACH (if Appll cable) Estimated M ark at Rent f NA IMO. s Gross Rent Multiplier NA • a NA This aoprat/an is made 'acts' U ablecl W are repair s, ofleabong, dnspecpuns or cold bons a glad below abjectWCUmdebonpe pans Ertl soeaucu0ons. Corndaonsor Approsal: The income approach was not considered for this report due to the lack of rentals in this owner -7occLi.2 ied neighborhood, fnarR.wnaaaoonjee Attbched Addendum. Tine purpose of Ue s :Dora' 62119 to 06 11 male tine mark at value of Ulu real prupert y Dial i g Ulu object of Uri g report, based on Ow above conditions and ana eebfieation, eontmgwil . andiron' tirngwndibons, andmarketVJUedGtntlon ahatarest atedmaheatiadhedFreddieMacForm439 fFevteMaeForm1004BlRewsed 06193 1. IIjWE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTYTHATIS THE SUBJECT OF THIS REPORT, AS OF Februar 1 998 )WHICH IS THE DATE OF 01SPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE f 132 000 APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signatore Signature a did 'J Did Not Name Howard W. Triees Name Inspect Properly Date Report Signed February 11 1998 Date Report Signed FIJ-19 Certification a Stale Slate Cartilieabon a Stale Or Slate License s 4000275 State MN Or Slam License a slate .. a. e..;•rm 76 Ern PACE • OF ma... y,.. m.., .Kie.:e,.n�.:.....r'.mN•a.u6.. o.,..u.;.,,.m6c tin File No. 57175192 Lender's Service. Inc., an Appraisal Management Company NARRATTVE ADDENDUM FILE no. 57175192 DonnowER Irving k Charlotte Nudell rnorzRTY ADDRESS 4015 Lynn Avenue CITY Edina COUNTY Hennepin STATE MN z[r 55416 LEND (CLIENT Banc One Mortgage Corp NEIGHBORHOOD FACTORS THAT AFFECT MARKETABILITY: The city of Edina has attractive and well planned neighborhoods with a variety of old residences as well as newer areas. The natural resources of this city have been maintained with tree lined streets, rolling hills. - ponds. lakes and winding streams. Edina is home to Southdale, the world's first enclosed shopping mall which opened in 1956 as well as other newer centers. Twenty -seven parks are located in Edina covering over 1.000 acres of land. There are picnic areas and nature areas, tennis courts, lakes for a variety of recreational activities, golf courses and ice arenas. Industrial and retail are within blocks of the subject. Homes in the area are mixed in design and size but all are typically well maintained and updated. ' SITE COMMENTS: No adverse conditions were noted to be existing on the site or abutting the site. Standard utility easements are common to the area and do not affect marketability. The site faces west with terracing iri the rear and mature trees. ADDITIONAL FEATURES: Fireplace in the family room. Ceramic tile in the kitchen. Newer cabinets, furnace and water heater. Lawn irrigation system. Gas fireplace space heater in the rec room. The garage is deeper offering additional built -in garage space. COST APPROACH COMMENTS: GLA 24.00 x 40.00 x 1 = 960 4.00 x 16.00 x 1 64 , 12.00 x 24.00 x 1 = •288 Total Sq. Ft. = 1312 SALES COMPARISON COMMENTS: Comparable #1 was slightly smaller but had a three season porch. Comparable #2 was slightly smaller, had a larger garage and two fireplaces. Comparable #3 was similar in size. with an additional bedroom and half bathroom above grade, a three season porch and larger garage. This was an older hone, however, no adjustment is made for the age difference as the homes are similar in overall condition having updating and good maintenance. The typical buyer of a home in this area and in this age range is concerned of the overall condition of the home. The homes were all similar in design. condition, site size. construction quality, with central air, similar utility and locational amenities. Sales over the paint eighteen months were checked for the most similar homes. Sales are limited in this community of good demand and comparables are further limited by the design and size of home. This resulted in the use of comparables at a slightly further distance. The best comparables were selected for this report. FINAL RECONCILIATION: The market approach was the best indicator of value as it best represents current economic conditions affecting real estate values. The market File No. 57175192 Lender's Service. Inc., an Appraisal Management Company NARRATIVE ADDENDUM FILZ NO. 57175192 FINAL RECONCILIATION: (continued) approach was supported by the cost approach. A close value range was Indicated by the comparables with minimal adjustments needed. Most consideration was given to comparable #1 as it resulted in the least gross adjustments; with the value pulled upward and strongly supported by the other two comparables. File No. 57175192 Lender's Service. Inc.. an Appraisal Management Company City of Edina Board of Review Address 4015 LYNN AVE PID # 07- 028 -24 -13 -0040 Case # 3 Assessing Dept. Page 1 4/7/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 4015 LYNN AVE 07 -028- 24- 13-0040 4116 LYNN AVE 07 -028- 24-13 -0005 4160 LYNN AVE 07 -028- 24-13 -0001 4005 GRIMES AVE 07 -028 -24. 14-0015 Sale Date Mar -98 Jul -94 Apr -97 Sale Price $ 155,500 $ 138,500 $ 139,000 Time Adjustment $ - $ 13,800 $ - Adj. Sale Price $ - $ 155,500 $ 152,300 $ 139,000 Price / Sq Ft $ - $ 140.09 $ 138.45 $ 112.82 Style RAMBLER/WALK UP SPLIT LEVEL SPLIT LEVEL RAMBLER 1 st Floor Area 1,292 1,110 1,100 1,232 2nd Floor Area Total Sq Ft 1,292 1,110 $ 3,600 1,100 $ 3,600 1,232 $ 1,200 Quality AVERAGE AVERAGE AVERAGE AVERAGE Year Built 1952 1966 $ (4,000) 1968 $ (4,500) 1952 Condition GOOD GOOD GOOD AVERAGE $ 10,000 # of Bedrooms 3 3 3 3 # of Baths 1 1 1 1 Basement Area Finished Bsmt 380 SF + BATH .5 300SF +.5 BATH 480SF +.5 BATH $ (1,000) 516SF +.5 BATH Walkout Fireplaces 1 1 NONE $ 2,000 2 $ (1,500) Heat / Cooling CAC CAC CAC CAC Garage Size BSMT TANDEM 2 BSMT 2 CAR $ (2,000) BSMT 2 CAR $ (2,000) TANDEM 2 CAR $ (1,000) Deck PATIO DECK DECK DECK Porches NONE NONE NONE NONE Lot Size NORMAL NORMAL BUT LOW NORMAL BUT LOW NORMAL Location GOOD GOOD GOOD GOOD Other front walk up rambler $ (6,000) $ (6,000) $ (6,000) Other NO NO NO NO Other Other Restrictions Adjustment Net Ad 1 <' $ 8,400 ( ) $ 7,900 ( ) $ 2,700 P. 1d'. Sale P ice 1 Sale Price Sal $ 147,100 144,400 00 141,700 13 .52 2 $ 131.27 $ 115.02 Assessing Dept. Page 1 4/7/98 r _ � ` l i _ �� - �.,,, h .. }- .ate..;., .. _ a. � t a �• �! - . $c !� j_1 .. S ll: .•�T .^test.. .d - �_�W �t � 'ter aG.,. _ -_ 6v'�, _ ♦, " -� - � _ ' T p - � v -w :. }�+a�fr,r a,�yaaf Y v..3 S ro-. i `.S': ,l• � t. v.1KR kj� ......... -� •r w ,: rev , c^zY° ' ,yr�- a,'r�'.-r 4 a � � ��n .i. = ��'4 �`�'� �� � �a^sa4a , C"t{�,ra✓5ca``�i �' ��..s� - ,,. i }: r 3 . �y a'&� •� y � �� tir �,C�F,9G< UR`�'y� i wJ.. �'+w'.a 45 �. +F 7 "'{R�`7 y�". 'rig }i{� 'ter "'_� +a' - '�i � � '1� �"Y' �✓� -x +- }C '��`f'T� 3C.� '�3t .a �y �✓ <ZZ. ,r$ k."'�5.^+"`i. j r .i-1b' � rt"r'r,t.. ''��/�,� t ..[ �i ;,�� �'�`} Y � �"'w` ii'C�5^q� -" �1,�;3Tt �, R ri �{ M�M1's` r y S� 4 •t�"vs ^% '+ ,� +.'�>�����`��ii'x'ui':2� _r�'wr _.� ....a v's"+�•JE�1s`.n��'�l's,,� ey}'�:..��y�'��`y- �"'��; Case # 10 City of Edina Board of Review ti:Yn: vvL>u( v...x.x:........:...... n3�•'.:'v Y�Ci�ii: ?iyvi �:{: tiitivii}y vf:vv:i�i�`vxv:n L,..,,,..::.:.v..vv.,:xx:v: .,xx ,. x,,..,, xx.,,.,,,,: L, xx.,,.•.... �.:: x: z�:, a,. x ,z,�,,:x,x�z,,,.,,xa,,,x,xxxx,: Assessor's Commentary - Property I.D. Number: 32- 117 -21 -12 -0047 Date: 4/13/98 Property Address: 5509 MERRITT CIRCLE Owner /A ent Name: JOHN CARLSON Comments: Home is in Highland area - A well built home and has been maintained, but needs some updating. Comparable number 1 and 2 are on busy streets, yet they are very similar in size and style. Sale number 3 is located in the same block. s.,|*'nnxncovn/ .' PROPERTY ID pnoPEnTv DATA uvarcn ToxPovsx zmVu/n, x0usE4 pRonTzUN STREET unms uNlT Zzp`v ����� 3543o~ ow`cri cARLonw JOHN J O^oerz; Owner-2: conLsom svLvzo L uwnorq: Zoning: K i Prim/soc: Yr. b|t: 1953 Area: nch.ost: 273 wvna: 01 ur/on/sx; suu,ecs: :unn 319 NEXT Pt.cuo: mt.mur: Front: Back: n/oxt : Lam: Acres: .uo 01 Width: 11e Depth: 143 wn.s.,/* n000c000| PROPERTY ID PROPERTY DATA SYSTEM - SALES osconu upuoTs --------------- Address ----------- ssns 1/ nsnnzTT czn REMARKS uunn mo NEXT ~~~�~ E3 nxt Land mkt - a|uo mkt-Mach nkt-Tot Tx Capacity xu PT Xow^ 1e98: uuoou 1402ou �yu000 * o loo 1997: 4800u 126200 ` 175000 M n 100 1996� 48yuu 126200 ' 175ouo n n /no Legal Description; LOT 10 DLocx c vTcTnnepm's wnozTInw TO snzwo nzsVL*uo's wn.s.,/* n000c000| PROPERTY ID PROPERTY DATA SYSTEM - SALES osconu upuoTs --------------- Address ----------- ssns 1/ nsnnzTT czn REMARKS uunn mo NEXT ~~~�~ E3 City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: Attach any supporting documentation Owner Name: `> Owner Address: 0 Home Phone Number: Business Phone Number: Property Address: — L�!;tr Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: 1 believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: Qom, QG Purchase Date: 'Total purchase price (land & bldgs.): Year Built: House/%9 Garage:/ Additions (Ex lain): Condition of Structures (Explain): — p Description & value of additions and i provements since your pur ase of this prope . ................ ................... ....... ... ......................... .............. ............................... ............................... ........................................................... ............................... ........................ Professional A pra�sais; : lease a ach a:cap of:an recent:a raisals Y pp ....... ....... ............ .... .... .. Appraisal Date:/ 5??W a0 . o I .... E : taln::ttie:reasons or:. aur:o _ e :. on::toa : e:assessors:es. innate .:irxi et:va. uei > :::::: ::::: :::::::::.::::::::::::::::::::: I DO HEREBY AFFIRM THAT THE ABOVE INFO TION IS COMPLETE,AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. TYP: SF SOLD 41284652 LP: 182,500 BR: 3 TBA: 3 RAMBLER AD: 5900 BERNARD PLACE MUN: EDINA COMPLETELY UPDATED MECHANICALY - NEW FAMILY ROOM, KITCHEN CABINETS,MAIN & MASTER BATH - JUST COME & ENJOY.ORIGINAL OWNERS BUT HAVE KEPT UP WITH TODAYS STYLES. OWNER WILL BE HOME FOR SHOWINGS BECAUSE OF HANDICAP.SEE SUPP.2 HOUR NOTICE TYP: SF SOLD #1293736 LP: 184,500 BR: 3 TBA: 2 RAMBLER AD: 5421 HALIFAX LN MUN: EDINA HIGH DEMAND AREA ACROSS STREET FROM CREEKSIDE HOMES. ONE OWNER HOME HAS HAD METICULOUS CARE DAILY. PRETTY LAWN, LARGE PRIVATE REAR YARD & PATIO. COVED CEILINGS - PLASTER WALLS - HARDWOOD UNDER CARPET. NEW ROOF JUST INSTALLED (TEAROFF). r 1 * r- ° TYP: SF SOLD 41243406 LP: 175,900 BR: 3 TBA: 3 RAMBLER AD: 5172 ABERCROMBIE MUN: EDINA THIS VERY NICE HOME, IN CONVENIENT BROOKVIEW HEIGHTS LOCATION, FEATURES HDWD FLOORS, 3 MAIN FLOOR BEDROOMS, FORMAL LIVING ROOM & DINING ROOM, REMODELED KITCHEN, 2 FIREPLACES AND A PRIVATE BACK YARD. TYP: SF SOLD #1248322 LP: 179,900 BR: 3 TBA: 2 RAMBLER AD: 5145 ABERCROMBIE DR MUN: EDINA NICE HOME IN CONVENIENT BROOKVIEW HEIGHTS LOCATION, OFFERS 3 F MAIN FL BR'S, DR, PLUS LARGE EAT IN KT, HARDWOOD FLOORS 3 FPLC'S, MAINT FREE STEEL SIDING & A FABULOUS 20X16 MAIN FL FAMILY ROOM ADDITION IN 1989. PLEASE SEE THE SUPPLEMENT. sue= TYP: SF SOLD 41257379 LP: 179,000 BR: 3 TBA: 2 RAMBLER a 4 AD: 5200 ` F MEADOW RIDGE MUN: EDINA * EXTRAORDINAP.ILY LIGHT & BRIGHT RAMBLER �.. * LOVELY FRONT VIEW & GORGEOUS PRIVATE BACKYARD wil *UPDATES +NEWER KITCHEN, HARDWOOD, LARGE MAIN FLOOR SUNROOM* PLEASE SEE SUPPLEMENT! _� =+ TYP: SF SOLD #1275279 LP: 179,500 BR: 3 TBA: 3 RAMBLER AD: 6208 HANSEN RD MUN: EDINA NICELY UPDATED CENTER HALL RAMBLER! GREAT WOODED VIEWS FROM DECK! COUNTRY SIZED KITCHEN, EURO -STYLE CABINETS, BUILT -IN Apr E ' MICRO, COOKTOP & OVEN. LARGE FAMILY RM W /FPLC & NEW BERBER CARPET IN W /OUT LEVEL. 3BA, BIG BR'S, SOME HARDWOOD FLOORS. 03/31/98 16:38 Sold Single Family Page: 1 ,LIST# - - - - - -- -------------- ADDRESS - AR SUB S -PRICE DATE - - - MT FSZ BR BA STYLE RF# 1284652 5900 - - - -- BERNARD PLACE - -- 385 -- 1 --- - - - - -- 170,880 -- - -- 09/13/97 - -- 58 - - -- 1684 -- 3 - 3 - - - - - -- RAMBLER - -- 1 1243406 5172 ABERCROMBIE 385 1 172,000 03/08/97 36 1344 3 3 RAMBLER 2 248322 5145 ABERCROMBIE D 385 1 177,000 05/18/97 85 1854 3 2 RAMBLER 3 275279 6208 HANSEN RD 385 1 177,500 06/22/97 13 1494 3 3 RAMBLER 4 1257379 5200 MEADOW RIDGE 385 1 179,000 04/12/97 11 1630 3 2 RAMBLER 5 1293736 5421 HALIFAX LN 385 1 179,000 01/05/98 126 1500 3 2 RAMBLER 6 TOTAL SINGLE FAMILY LISTINGS: 6 AVRG LIST PRICE: 180,216 AVRG SOLD PRICE: 175,896 AVRG MARKET TIME: 54 Criteria: ST= SOLD,COMS AR =385 TYP =1 SP= 170 -180 OFF MARKET DATE = 3/1/97+ STYLE =A GARAGE =H YEAR BUILT =1950+ 31 -MAR -1998 16:33:34 ___ _______________________________ #1 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - { SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 175,900 S -$ 172,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: HBT: 2 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5172 ABERCROMBIE TAX $ 2,386/96/F MAP E1 -133 MUN EDINA ZIP 55439 TWA $ 2,410 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 75X144 ACR .00 HS FOR 97/F YBL 1957 -N +------------------------------------------------------------------------- - - - - -+ DIR 100 TO 70TH AV, W TO RABUN, N TO ABERCROMBIE # 1243406 THIS VERY NICE HOME, IN CONVENIENT BROOKVIEW HEIGHTS LOCATION, FEATURES HDWD FLOORS, 3 MAIN FLOOR BEDROOMS, FORMAL LIVING ROOM & DINING ROOM, REMODELED KITCHEN, 2 FIREPLACES AND A PRIVATE BACK YARD. LGL LOT 18, BLK 6, BROOKVIEW HEIGHTS 2ND ADDITION PID 0411621330055 + -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - + L APROX L APROX BBT Y MBT Y LR M 21X13 B1 M 13X12 RNG,DWS,DSP,WSR,MIC,F /H DR M 11X10 B2 M 13X12 WSH,BUS,D /P,HWF FR L 22X20 B3 M 11X10 WAT CONNECT AIR C KT M 1OX 9 B4 X SEW CONNECT EXT SHA,B /S ID M 11X 9 PA X FPL 2 , L, F BSM F, L X X HEA FA /GAS GAR 2,T,Y +---------------------------------------------------------------------------- SCHOOL DISTRICT EDINA SDN 273 SDP 928 -2500 FSZ 1,344 AGF 1,344 BGF 704 FSF 2,048 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 31 -MAR -1998 16:33:34 ___ _______________________________ #2 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 - - - - - - - - - - - - - + ,I SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 179,900 S -$ 177,000 SOLD >>> BR : 3 TBA: 2 FBT: 1 TBT: 1 HBT: QBT: STY: RAMBLER I -------------------------------------------------------------------------- - - - - -+ 145 ABERCROMBIE DR TAX $ 3,686/96/F MAP E1 -133 EDINA ZIP 55439 TWA $ 3,719 1,4UN AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 88X109X103X114 ACR .00 HS FOR 97/F YBL 1956 -N +------------------------------------------------------------------------- - - - - -+ DIR 100 TO 70TH W TO RABUN N TO ABERCROMBIE WEST # 1248322 NICE HOME IN CONVENIENT BROOKVIEW HEIGHTS LOCATION, OFFERS 3 MAIN FL BR'S, DR, PLUS LARGE EAT IN KT, HARDWOOD FLOORS, 3 FPLC'S, MAINT FREE STEEL SIDING & A FABULOUS 20X16 MAIN FL FAMILY ROOM ADDITION IN 1989. PLEASE SEE THE SUPPLEMENT. LGL LENGTHY PID 0911621210019 t------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT N LR M 22X14 B1 M 14X14 REF,RNG,DWS,DSP,WSR DR M 12X11 B2 M 13X12 WSH,DRY,BUS,SEC,D /P,HWF FR M 20X16 B3 M 11X11 WAT CONNECT AIR C KT M 16X11 B4 X SEW CONNECT EXT M/V DK M 18X15 X FPL 3,L,F,A BSM F,L AM L 27X15 X HEA FA /GAS GAR 2,T,Y +------------------------------------------------------------------------- M - - - - -+ B4 DISTRICT EDINA SEW CONNECT,STREET EXT SHA,B /S (SCHOOL SDN 273 SDP 928 -2500 FSZ 1,854 AGF 1,854 BGF 465 FSF 2,319 I +------------------------------------------------------------------------- X - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED .. -MAR -1998 16:33:34 - ---------------------- - - - - -- #3 --- ------ ---- ------ ---------------- ---------- ------ --- ---- ------- ----- - --- - - - - - -+ SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 179,000 S -$ 179,000 SOLD >>> I BR : 3 TBA: 2 FBT: 1 TBT: 1 HBT: QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5200 MEADOW RIDGE TAX $ 2,893/97/F MAP E1 -133 MUN EDINA ZIP 55439 TWA $ 2,893 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 90 X 194 X 66 X 194 ACR .34 HS FOR 97/F YBL 1955 -N +------------------------------------------------------------------------- - - - - -+ DIR 70TH TO RABUN, RIGHT ON TIFTON TO MEADOW RIDGE # 1257379 * EXTRAORDINARILY LIGHT & BRIGHT RAMBLER * LOVELY FRONT VIEW & GORGEOUS PRIVATE BACKYARD *UPDATES +NEWER KITCHEN, HARDWOOD, LARGE MAIN FLOOR SUNROOM* * PLEASE SEE SUPPLEMENT! LGL LOT 32, BLOCK 4, BROOKVIEW HEIGHTS 1ST ADDITION PID 04116213210053 t------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT N LR M 24X14 B1 M 13X12 REF,RNG,DWS,DSP,WSO,F /H M 12X 9 B2 M 12X11 TRC,SEC,D /P,SUN,HWF L 24X14 B3 M 11X 9 WAT CONNECT,STREET AIR C ISR M 14X12 B4 X SEW CONNECT,STREET EXT SHA,B /S M 22X 9 X FPL 2 BSM W,F,D A X HEA FA /GAS GAR 2,A,T +------------------------------------------------------------------------- - - - - -+ (SCHOOL DISTRICT EDINA I SDN 273 SDP 928 -2500 FSZ 1,630 AGF 2,130 BGF FSF 2,130 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 31 -MAR -1998 16:33:34 _______________ ___________________ #4 --------- - - - - -- +------------------------------------------------------------------------- - - - - -+ SINGLE FAMILY - SF I +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 179,500 S -$ 177,500 SOLD >>> J BR : 3 TBA: 3 FBT: 1 TBT: 2 HBT: QBT: STY: RAMBLER I +------------------------------------------------------------------------- - - - - -+ 6208 HANSEN RD TAX $ 2,853/97/F MAP E4 -119 MUN EDINA ZIP 55436 -2534 TWA $ 2,853 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP U LOT 80X232 ACR .42 HS FOR 98/F YBL 1961 -N +------------------------------------------------------------------------- - - - - -+ DIR CROSSTOWN TO TRACY,N,IMMED.RT ON V.V. TO HANSEN # 1275279 NICELY UPDATED CENTER HALL RAMBLER! GREAT WOODED VIEWS FROM DECK! COUNTRY SIZED KITCHEN, EURO -STYLE CABINETS, BUILT -IN MICRO, COOKTOP & OVEN. LARGE FAMILY RM W /FPLC & NEW BERBER CARPET IN W /OUT LEVEL. 3BA, BIG BR'S, SOME HARDWOOD FLOORS. LGL LOT 3, BLOCK 3 WYMAN'S SOUTHVIEW 2ND ADDN PID 0511621110082 T - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - + L APROX L APROX BBT Y MBT Y LR M 22X13 B1 M 15X11 REF,RNG,DWS,DSP,MIC,F /H I DR M 11X11 B2 M 14X11 WSH,DRY,FLT,D /P,HWF FR L 26X13 B3 M 11X11 WAT CONNECT AIR C KT M 10X11 B4 X SEW CONNECT EXT WOD ID M 8X 8 X FPL 2,4,F BSM W,F DK M 33X10 X HEA FA /GAS GAR 2,T +------------------------------------------------------------------------- - - - - -+ DISTRICT EDINA (SCHOOL SDN 273 SDP 928 -2500 FSZ 1,494 AGF 1,494 BGF 508 FSF 2,002 I +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 31 -MAR -1998 16:33:34 _______________ ___________________ #5 --------- - - - - -- +------------------------------------------------------------------------- - - - - -+ SINGLE'FAMILY - SF +------------------------------------------------------ .------------------- - - - - -+ I <<< L -$ 182,500 S -$ 170,880 SOLD >>> I BR : 3 TBA: 3 FBT: 1 TBT: 1 HBT: 1 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5900 BERNARD PLACE TAX $ 3,378/97/F MAP E3 -119 MUN EDINA ZIP 55436 TWA $ 3,378 AR 385 SUB 1 DIV 1 COU HENN ASB $ ASP N LOT 84.78 X 120 ACR .00 HS FOR 97/F YBL 1963 -N +----------------- - ------------------------------------------------------- - - - - -+ DIR TRACY TO BENTON EAST TO BERNARD PLACE. # 1284652 COMPLETELY UPDATED MECHANICALY - NEW FAMILY ROOM, KITCHEN CABINETS,MAIN & MASTER BATH - JUST COME & ENJOY.ORIGINAL I OWNERS BUT HAVE KEPT UP WITH TODAY'S STYLES. OWNER WILL BE HOME 'FOR SHOWINGS BECAUSE OF HANDICAP.SEE SUPP.2 HOUR NOTICE LGL THE EASTERLY 120 FEET OF LOT 1 BLOCK 4 CODES HIGHVIEW RD PID'3311721320057 +------------------------------------------------------------------------- - - - - -+ L APROX ILR L APROX BBT Y MBT Y M 14X23 B1 M 13X12 REF,RNG,DWS,WSO,MIC,F /H DR M 11X11 B2 M 13X13 BUS,D /P,FEN FR M 24X14 B3 M 11X 9 WAT CONNECT AIR C KT M 11X14 B4 X SEW CONNECT EXT HBM AM L 15X12 DK 19X10 FPL 2,L,A BSM W,F,C AM 1OX21 X HEA FA /GAS GAR 2,A,T +-------------------------------------- - --------------------------- ------- - - - - - + (SCHOOL DISTRICT EDINA SDN 273 SDP 928 -2500 FSZ 1,684 AGF 1,684 BGF 390 FSF 2,074 •I +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 31 -MAR -1998 16:33:34 ___ _______________________________ #6 +------------------------------------------------------------------------- - - - - -+ SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I <<< L -$ 184,500 S -$ 179,000 SOLD >>> I BR : 3 TBA: 2 FBT: 1 TBT: 1 HBT: QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5421 HALIFAX LN TAX $ 3,387/97/F MAP A3 -120 MUN EDINA ZIP 55424 TWA $ 3,387 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 55X155X55X151 ACR .19 HS FOR 98/F YBL 1955 -N +------------------------------------------------------------------------- - - - - -+ `IR FRANCE TO 54TH; WEST TO HALIFAX LN # 1293736 IGH DEMAND AREA ACROSS STREET FROM CREEKSIDE HOMES. ONE OWNER HOME HAS HAD METICULOUS CARE DAILY. PRETTY LAWN, LARGE PRIVATE REAR YARD & PATIO. COVED CEILINGS - PLASTER WALLS - HARDWOOD UNDER CARPET. NEW ROOF JUST INSTALLED (TEAROFF). LGL LOT 3 BLOCK 1 ELMWOOD TERRACE (SEE SUPPLEMENT) PID 1902824110019 +------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT N LR M 20X13 B1 M 14X11 REF,RNG,DWS,DSP,WSO DR M 1OX 7 B2 M 1OX13 WSH,DRY,BUS,D /P,HWF FR M 1OX16 B3 M 11X15 WAT CONNECT AIR C KT M 15X11 B4 X SEW.CONNECT EXT SHA AM L 25X13 X FPL 2,L,A BSM F,L,D X X HEA FA /GAS GAR 2,T,Y VVV +------------------------------------------------------------- - - - - -- ---- - - - - -+ (SCHOOL DISTRICT EDINA SDN 273 SDP 928 -2500 FSZ 1,500 AGF 1,500 BGF � 350 FSF 1,850 I INFORMATION AEMED RELIABLE BUT T GU ED - r 12 -MAR -1998 11:45:07 ___ _______________________________ #14 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 165,900 S -$ 163,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: 1 HBT: 1 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5100 BENTON AVE TAX $ 2,483/97/F MAP E3 -119 MUN EDINA ZIP 55436 TWA $ AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 90 X 120 ACR .00 HS FOR 98/F YBL 1952 -N ------- - - - - -+ DIR W. NORMANDALE BL. FRONTAGE RD. S. TO BENTON # 1292303 TERRIFIC HOME IN A GREAT NEIGHBORHOOD. AFFORDABLE, CONV. & GREAT COND. MOVE IN & ENJOY! CLOSE TO SCHOOLS, BUS & SHOPS. LOW MAINT. EXTER. & QUICK POSSESSION IS POSSIBLE. NICE 3 SEAS. PORCH, WELL LANDSC & YET RM FOR EXPANSION SUPP. LGL LOT 12, BLOCK 2, EDINA HEIGHTS PID 3311921310057 +------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT N LR M 24X16 B1 M 15X12 REF,RNG,WSO,F /H DR M X B2 M 13X10 BUS,FLT,D /P,POR,HWF FR L 30X 6 B3 M 12X10 WAT CONNECT AIR C KT M 13X10 B4 X SEW CONNECT EXT M /V,B /S X ID L 12X10 FPL 2,L,M BSM F,L PO M 20X12 PA M 10X10 HEA FA /GAS GAR 2,D,Y +------------------------------------------------------------------------------ ISCHOOL DISTRICT EDINA SDN 273 SDP 928 -2500 FSZ 1,204 AGF 1,204 BGF 604 FSF 1,808 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 12 -MAR -1998 11:45:07 ___ _______________________________ #15 ------------------------------------------------------------------------ - - - - -+ SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 169,900 S -$ 164,900 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: 1 HBT: 1 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5213 61ST ST W TAX $ 3,040 /96/F MAP E4 -119 MUN EDINA ZIP 55436 TWA $ AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 123.85X82.46 ACR .00 HS FOR 97/F YBL 1955 -N +------------------------------------------------------------------------- - - - - -+ DIR S HWY 100 TO BENTON TO CODE S TO 61ST ## 1244066 THIS QUALITY BUILT RAMBLER HAS BEEN UPDATED FOR THE 90'S. NEW CARPET /PAINT /HARDWOOD FLRS IN BR'S.A -1 MECHANICS,FORMAL DINING /EAT -IN KITCHEN.LOWER LEVEL GIVES YOU ROOM TO GROW. LGL 273 BIRCHCREST 2ND ADDITION PID 3311721330031 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - + L APROX L APROX BBT Y MBT Y LR M 22X14 B1 M 14X12 REF,RNG,DWS,WSO,F /H DR M 12X11 B2 M 14X11 HWF FR X B3 M 11X11 WAT CONNECT AIR C KT M 15X12 B4 X SEW CONNECT EXT WOD,STU,B /S FR L 20X13 L 13X11 FPL 2 BSM F,D L 20X17 X HEA FA, /GAS GAR 2 ----------------------------------------------------------------------- - - - - -+ .HOOL DISTRICT EDINA ISDN 273 SDP 928 -2500 FSZ 1,446 AGF BGF FSF 2,150 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 12 -MAR -1998 11:45:07 ___ _______________________________ #23 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I. SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 175,900 S -$ 172,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: HBT: 2 QBT: STY: RAMBLER + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -+ 5172 ABERCROMBIE TAX $ 2,386/96/F MAP E1 -133 MUN EDINA ZIP 55439 TWA $ 2,410 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 75X144 ACR .00 HS FOR 97/F YBL 1957 -N +------------------------------------------------------------------------- - - - - -+ DIR 100 TO 70TH AV, W TO RABUN, N TO ABERCROMBIE # 1243406 THIS VERY NICE HOME, IN CONVENIENT BROOKVIEW HEIGHTS LOCATION, FEATURES HDWD FLOORS, 3 MAIN FLOOR BEDROOMS, FORMAL LIVING ROOM & DINING ROOM, REMODELED KITCHEN, 2 FIREPLACES AND A PRIVATE BACK YARD. LGL LOT 18, BLK 6, BROOKVIEW HEIGHTS 2ND ADDITION PID 0411621330055 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - L APROX L APROX BBT Y MBT Y LR M 21X13 Bl M 13X12 RNG,DWS,DSP,WSR,MIC,F /H DR M 11X10 B2 M 13X12 WSH,BUS,D /P,HWF FR L 22X20 B3 M 11X10 WAT CONNECT AIR C KT M 1OX 9 B4 X SEW CONNECT EXT SHA,B /S ID M 11X 9 PA X FPL 2,L,F BSM F,L X X HEA FA /GAS GAR 2,T,Y +----------------------------------------------------------------------------- SCHOOL DISTRICT EDINA SDN 273 SDP 928 -2500 FSZ 1,344 AGF 1,344 BGF 704 FSF 2,048 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 12 -MAR -1998 11:45:07 ___ _______________________________ #30 ------------------------------------------------------------------------- - - - - -+ SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 183,900 S -$ 182,500 SOLD >>> BR : 3 TBA: 3 FBT: 2 TBT: HBT.: 1 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 6021 BIRCHCREST DR TAX $ 2,734/97/F MAP E4 -119 MUN EDINA ZIP 55436 TWA $ 2,734 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 75X134.91 ACR .23 HS FOR 98/F YBL 1956 -N +------------------------------------------------------------------------- - - - - -+ DIR HANSEN RD OR W 60TH ST. TO BIRCHCREST DRIVE. ## 1250382 WONDERFUL FAMILY HOME THAT IS IN TOP CONDITION. NEW 22X16 FAMILY ROOM ADDN & 16X15 DECK IN 1987, FENCED BACKYARD. THIS HOME HAS BEEN METICULOUSLY MAINTAINED. HARDWOOD FLOORS UNDER CARPET IN ALL 3BR'S & LR (SHOWS IN DR) 3 BA'S. SEE SUP LGL LOT 6 BLOCK 1 BIRCHCREST PID 3311721340006 +------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT N LR M 24X10 B1 M 13X11 REF,RNG,DWS,DSP,WSO,F /H DR M 13X13 B2 M 13X10 WSH,DRY,BUS,FLT,D /P,FEN,SAU,HWF FR M 22X16 B3 M 11X10 WAT CONNECT AIR C KT M 12X 8 B4 X SEW CONNECT EXT SHA,B /S,HBM DK M 16X15 OF L 12X10 FPL 2,L,A BSM F,L,T,S X AM L 26X20. HEA FA /GAS GAR 2,A,Y ---------------------------------------------------------------- ,-------- - - - - -+ "'HOOL DISTRICT EDINA ISDN 273 SDP 928 -2500 FSZ 1,712 AGF 1,712 BGF 916 FSF 2,628 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 12 -MAR -1998 11:45:07 ___ _______________________________ #31 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - I• SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 189,900 S -$ 184,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: 2 HBT: QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 5329 MADDOX LN TAX $ 3,248/97/F MAP E4 -119 MUN EDINA ZIP 55436 TWA $ 3,280 AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N LOT 85X128 ACR .00 HS FOR 97/F YBL 1957 -N +------------------------------------------------------------------------- - - - - -+ DIR X /TWN TO TRACY E ON FRONTAGE TO HANSON BLVD NO # 1307316 CONVENIENT EDINA LIVING AT AN AFFORDABLE PRICE. 1ST FLOOR FAMILY RM W /FULL BRICK WALL W /GRILL. 3 BATHS - STEP DOWN CEILINGS ADD CHARM. WALKOUT LOWER LEVEL W /REC CENTER & LIVING RM - BEAUTIFUL WOOD THRUOUT. LGL.LOT 1 BLK 2 WYMON;S SOUTHVIEW 2ND ADDN PID 0511621110076 + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - + L APROX L APROX BBT Y MBT Y LR M 22X14 B1 M 11X10 RNG,DWS,DSP DR M 11X11 B2 M 13X11 BUS,FLT,SEC,D /P,HWF FR M 20X12 B3 M 14X12 WAT CONNECT AIR C KT M 13X11 B4 X SEW CONNECT EXT SHA,B /S M 15X 6 AM L 22X14 FPL 2,L,A BSM W,F,L,D OF L 13X12 X HEA FA /GAS GAR 2,T,Y,I,H +----------------------------------------------------------------------------- DISTRICT EDINA ISCHOOL SDN 273 SDP 928 -2500 FSZ 1,689 AGF 1,689 BGF 826 FSF 2,515 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED 12 -MAR -1998 11:45:07 ___ _______________________________ #32 ------------------------------------------------------------------------ - - - - -+ SINGLE FAMILY - SF +------------------------------------------------------------------------- - - - - -+ I<<< L -$ 187,500 S -$ 187,000 SOLD >>> BR : 3 TBA: 3 FBT: 1 TBT: 1 HBT: 1 QBT: STY: RAMBLER +------------------------------------------------------------------------- - - - - -+ 6913 CORNELIA DR TAX $ 2,881/97/F MAP Al -134 MUN EDINA ZIP 55435 TWA $ 2,881 LAKE VIEW AR 385 SUB 1 DIV 3 COU HENN ASB $ ASP N CORNELIA LOT 82X125X78X125 ACR .00 HS FOR 97/F YBL 1954 -N +------------------------------------------------------------------------- - - - - -+ DIR SEE LISTER # 1272464 PRIME LOCATION ON STREET OF MUCH HIGHER VALUES. BEAUTIFUL LR W /PICTURE WINDOW OVERLOOKING LAKE CORNELIA. FABULOUS LL AMUS RM W /LARGE WINDOWS, FLOODED WITH DAYLIGHT. TOTALLY MECHANICALLY UPDATED. SEE SUPPLEMENT. LGL L 25 BLK 7 SOUTHDALE 1ST ADDITION PID 3002824430050 +------------------------------------------------------------------------- - - - - -+ L APROX L APROX BBT Y MBT Y LR M 24X13 B1 M 16X11 REF,RNG,DWS,DSP,WSO,F /H DR M 12X10 B2 M 12X11 WSH,DRY,BUS,FLT,D /P,FEN,HWF FR L 24X13 33 M 13X12 WAT CONNECT AIR C KT M 18X 9 B4 X SEW CONNECT EXT M/V X X FPL 2,L,A BSM F,L,D X X HEA FA /GAS GAR 2,A,Y,I ----------------------------------------------------------------------- - - - - -+ .'HOOL DISTRICT EDINA ISDN 273 SDP 928 -2500 FSZ 1,531 AGF 1,531 BGF 400 FSF 1,931 +------------------------------------------------------------------------- - - - - -+ INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED City of Edina Board of Review Address 5509 MERRITT CIRCLE PID # 32- 117 -21 -12 -0047 Case # 10 Assessing Dept. Page 1 4/7/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 5509 MERRITT CIR 32- 117 -21 -12 -0047 550 DONCASTER WAY 32- 117 -21 -12 -0043 6117 KAYMAR DR 32- 117 -21 -23 -0005 5501 MERRITT CIR 32- 117 -21 -12 -0038 Sale Date Jan -97 Dec -96 Dec-97 Sale Price $ 190,500 $ 180,000 $ 235,000 Time Adjustment $ - - Adj. Sale Price $ - $ 190,500 $ 180,000 $ 235,000 Price / Sq Ft $ - $ 110.24 $ 93.95 $ 130.41 Style 1 STORY 1 STORY 1 STORY 1 STORY 1 st Floor Area 1,967 1,728 1,916 1,802 2nd Floor Area Total Sq Ft 1,967 1,728 $ 6,000 1,916 1,802 $ 4,100 Quality GOOD GOOD GOOD GOOD Year Built 1953 1957 1957 1955 Condition NORMAL NORMAL NORMAL NORMAL # of Bedrooms 4 4 3 3 # of Baths 2.5 2.5 1.5 $ 2,000 3 $ (2,000) Basement Area 1351 1200 1020 1800 $ (5,000) Finished Bsmt 600 900 $ (2,000) 450 $ 1,500 780 $ (1,500) Walkout NO - SMALL $ (2,000) NO - Fireplaces 2 2 1 $ 2,000 2 Heat / Cooling H.W. FA FA FA Garage Size 2 CAR BSMT 2 CAR BSMT 2 CAR BSMT 2 CAR ATTACHED $ (5,000) Deck - - PATIO $ (1,000) - Porches - 3 SEASON $ (4,000) - 3 SEASON $ (4,000) Lot Size 118 X 143 122 X 157 100 X 135 128 X 156 Location VERY GOOD BUSY STREET $ 15,000 BUSY STREET $ 15,000 VERY GOOD Other Other Other Other Restrictions Net Adjustment _ $ 15,0001 $ 17,500 $ (13,400 4d'. Sale Price 1 Sale Price $ 205 500 $ 197 500 $ 221,600 118 92 103.08 $ 122.97 Assessing Dept. Page 1 4/7/98 CASE #10 5509 MERRITT CIRCLE FRONT VIEW STREET SCENE Case # City of Edina Board of Review Assessor's Commentary Property I.D. Number: 05- 116 -21 -41 -0066 Date: 4/13/98 Property Address: 6627 LIMERICK DRIVE Owner /Agent Name: PRAKASH PURAM & KAMALA PURAM Comments: 6627 Limerick Dr is a well built 2 story home, it has 4 bedrooms, 2.5 bath and is in very good condition. Comparable # 1 is very similar in age and size. Comparable # 2 and 3 are similar in location. 6623 Limerick drive sold in March 1996 for $220,000. This is a more contemporary styled home. The subject is more traditional in style such as comparable number one. s.rlw - Reflection 1 PROPERTY: :.DATA: SYSTEM }` r�# •a,w :` }4 •:iii• 4... . vtivr{• :'•ii•:. vYC w.:v:•.:v. is.rlw- Reflection 1 PROPERTY DATA SYSTEM= SALES RECORD UPDATE CURR 108 PRnPFRTY''ID --- ----- - - - - -- Address ------- - - - - -- NEXT : ^: iift�l�,::•:: M�J' Mkt- Land:::;:':Mkt= TAXPAYER INQUIRY Hd PT CURR 319: PROPERTY Id 49900 > >:,: 1946UU 2445UO H NEXT IUD _. 4990O.:::::_ ..... Pt. Cow: -, Ht',Adr:...: . HOUSEu..FRACTION >STREET? NAME ;:UNIT . '.ZIP•4 Front:.:­ 96: Back: :' 96 S&27 .!` 1 /T14E8I`GK OfI ::: s 5S439* Right:: 158 Left: 174 011nerl: PURAM' <:' ..;.:;. PRAKASH;. Oraner3:. 0nner2: PURAH KAHALA Oraner4: Zoning: R -1< ;Prim /sec: Yr. bIt :'1907 Area: Acres:. .00 Sch.Dst: 273: > ::14shd: 01 Gr /Os /Ex:... Subrecs: :.O1 Ridtlu: . Depth: }` r�# •a,w :` }4 •:iii• 4... . vtivr{• :'•ii•:. vYC w.:v:•.:v. is.rlw- Reflection 1 PROPERTY DATA SYSTEM= SALES RECORD UPDATE CURR 108 PRnPFRTY''ID --- ----- - - - - -- Address ------- - - - - -- NEXT : ^: iift�l�,::•:: M�J' Mkt- Land:::;:':Mkt= Bldg.,. Mkt =Mach. Hkt -Tot Tx Capacity Hd PT %Orrn 1998:: 49900 > >:,: 1946UU 2445UO H R IUD 1997:" 4990O.:::::_ `:189900- - 239800 H R: 100 1996: 49900 10990D: 239800 H> R 100 Legal. Description ;,; LOT 7 BLOCK 1 BROOKVIEN HEIGHTS..FIFTH ADDITION }` r�# •a,w :` }4 •:iii• 4... . vtivr{• :'•ii•:. vYC w.:v:•.:v. is.rlw- Reflection 1 PROPERTY DATA SYSTEM= SALES RECORD UPDATE CURR 108 PRnPFRTY''ID --- ----- - - - - -- Address ------- - - - - -- NEXT : ^: iift�l�,::•:: M�J' City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: .2 . Attach an supporting documentation p p Owner Name: PISA 5 KAMAL ( U Owner Address: 6 Xj QMeRtcg J We I SPINA- /V 55q-3 -it6D Home Phone Number: $L _ "7 Business Phone Number: Property Address: 462-1 0 i - I GDINA 4 R Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: 000 I believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: 2 Z 9, 000 Purchase Date: 'Total purchase price (land & bldgs.): Year Built: House: /tj S,7 Garage: 3 Additions (Explain): Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: N Professional A prais�isc (Please attach.a.cop af:any recent appraisa}Is) Appraisal Date: -Indicated Value: Ex Lain. the4easans €ot:. our:ob'ection: to the.assessor's:estitnate d:market:;vatue: Aced Zy AA �9c - c1C hao �ii 8+a— p . GI.O�LC 2-6 ,,y n p� S zzu utic 245> � (� aA 4hraWu.¢. CJA S•6nc� KYko - t1l — mowjlF biS ftYA 2 I DO HE BY AFFIRM THAT TIE A__ VE INFORMATION IS COMPLETE AN UE TO TH BEST OF _�,,�_lp,J, A tv&ftm v; guva— WaGE N D BELIEF. i �°`,, raj�,rO C4 1: a nt. RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. City of Edina Board of Review Address 6627 LIMERICK DRIVE PID # 05- 116 -21 -41 -0066 Case # 11 Assessing Dept. Page 1 4/7/98 Sales Comparison Adjustment Grid ...................... . ....._........... Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 6627 Limerick Drive 05- 116-21 -41 -0066 7721 Marth Ct 08- 116-21 -34 -0096 5804 Hansen Rd 32- 117 -21-41 -0031 6125 Crescent Drive 32- 117 - 2144 -0063 Sale Date 1987 Mar -97 Aug -96 Sep-97 Sale Price $ 205,000.00 $ 288,500 $ 230,000 $ 237,900 Time Adjustment $ - $ - $ 14,000 $ - Adj. Sale Price $ 205,000.00 $ 288,500 $ 244,000 $ 237,900 Price / Sq Ft $ 92.68 $ 127.99 $ 114.66 $ 112.22 Style 2 Story 2 Story 2 Story 2 Story 1 st Floor Area 1,120 1,271 1,218 1,040 2nd Floor Area 1,092 983 910 1,080 Total Sq Ft 2,212 2,254 - 2,128 $ 2,500 2,120 $ 2,500 Quality Very Good Very Good - Good - Good - Year Built 1987 1989 - 1970 $ 5,000 1959 $ 5,000 Condition Good Good - Good - Good - # of Bedrooms 4 4 - 4 - 4 - # of Baths 2.5 3.5 $ (2,000) 2.5 - 2.5 - Basement Area 1092 1271 - 910 - 1040 - Finished Bsmt None 900 $ (13,500) None - 500 $ (7,500) Walkout - - - - Fireplaces - Heat / Cooling FA-CA FA - CA - FA-CA - FA - CA - Garage Size 3 CAR 3 CAR - 2 CAR $ 4,000 2 CAR $ 4,000 Deck YES YES - YES - NO $ 2,000 Porches - SCREEN $ (3,000) 3 SEASON $ (4,000) - - Lot Size 96 X 165 82 X 125 - 100 X 146 - 120 X 200 - Location R.R. / POWER LINE 78TH ST INFLUNCE $ (10,000) SIMILAR - SIMILAR Other - - - - Other Other Other Restrictions Net Adjustm ent ? $ ( 28 500 ) $ 7 500 $ 6,000 Adj. Sale Price $ 260,0001 $ 251 500 $ 243,900 Sale Price $ 115.35 118.19 115.05 Assessing Dept. Page 1 4/7/98 CASE #11 6627 LEV ERICK DR FRONT VIEW STREET SCENE Case # . 12 City .of Edina Board of Review Assessor's Commentary w Property I.D. Number: 06- 116 -21 -32 -0071 Date: 4/13/98 Property Address: 6737 APACHE ROAD Owner /Agent Name: DONALD H HANSEN Comments: The subject is a 2 story home built in 1988. The home is in very good condition. All the sales are similar in size and style. Comparable number one is very similar and is located on cross -town highway. is.rlw - Reflection 1 PROPERTY DATA SYSTEM, TAXPAYER: "INQUIRY L'UF1R 319 PROPERTY ID NEXT y E,$" _ Pt.Con: Ht.Adr: :HOUSE F3';FRACTION STREET .NAME UNIT ": :ZIP•4 Front: `::102.:Back:..109 6 3'7•- 1/T :' APACHE:, Rif ''S5439�. Right : >:.iG6. Left: .'' 126 Ownerl:' :HANSEN DONALD H : :Bt -ner3: Onner-2: Oraner 4: Zoning: :0 Prin /sec: Yr. bIt: :1909 Area: Acres: .00 Sch.Dst: :.273 :Wshd: 01 Gr /Os /Ex: > :Subrecs: 01 Width: Depth: Mkt -Land :Mkt -Bldg - °Mkt -Hach Mkt -Tot Tx Capacity Hd PT %Orin 1998. 95000 295000 39000U H R 10U 1997: °95000 .:.280000 375000 H R 100 1996: 95000 280000 375000 H R 100 Leyal Description: LOT 9 BLOCK 1 INDIAN HILLS WEST._ «tttt;• tt ttt <tKtttt• zxr• :: # #z #zzzzzz:::::::• : z #zzv<:::,,:vv:,,•: z�zzz #z:zzzzz yy��;; :.:z::• tzzzzz :: ?}.::,;.:.ri:ti ma�yy,, q�.;• zzzz}z}i:}zzztizi zzl��yti tizv �; �z;:vz;: ......... :•::vziz nµiv :•.: v:• :.xv}x vvv •}� .. ... �...x..v. loois.rlw - Reflection 1 EMARKS CURR 106. NEXT >.zz;: {:;...: •• :••• ";:•: «•:t; #}.:;;; :.} }v.}::v.vt:,u:,v,`z� <zzzz >.zzzzzzz.zz:..,zz• zz "' >:`• �{ :.:k•: ..:..0 :::C.S \. ^..';;C;: <::�2tk: ...;kki #:22Y %a k.,o.. ?:: City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: J —1�' �'/$ Attach any supporting documentation Owner Name: 0 o f14 -t-17 /kS' r N Owner Address: (-, 73 % kfkc IMF ii d , Home Phone Number: 4-3 _ ,q .� Business Phone Number: Property Address: S 4 p4A Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: I believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: 3 -7 Purchase Date: i r d iTotal purchase price (land & bldgs.): Year Built: House: Garage: Additions (Explain): Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: ............... .... ......... _..... . ... .... ............... .......................... ............................ .. ........................... ...... .......... ........ ........ .. ................. . ..... Professional A praisaist Pease: a ac a:cop :of a.ny:recent �ppratsals Appraisal Date: Indicated Value: Exptatn.the:ceasons� €or.:. our:.objecfion ta_ the. assessora :estirrtated:market:watue::: IF � 7 I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. Address PID # Case # 6737 APACHE ROAD 06- 116 -21 -32 -0071 12 City of Edina Board of Review Assessing Dept. Page 1 4/8/98 Sales Comparison Adjustment Grid ................ - .............. ........... _......... ... ......... ............ Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 6737 APACHE RD 06- 116 - 21-32- 0071 6521 MCCAULEY TRAIL 06- 16 -21 -21 -0093 7719 MARTH CT 08- 116 -21 -34 -0095 6322 TIMBER TRAIL 06- 116 -21 -21 -0070 Sale Date Sep-90 Jan -98 Jan-98 Aug -97 Sale Price $ 350,000.00 $ 405,000 $ 439,000 $ 512,500 Time Adjustment $ - - Adj. Sale Price $ 350,000.00 $ 405,000 $ 439,000 $ 512,500 Price / Sq Ft $ 112.40 $ 128.08 $ 129.50 $ 115.43 Style 2 STORY 2 STORY 2 STORY 2 STORY 1 st Floor Area 1,642 1,930 2,190 2,980 2nd Floor Area 1,472 1,232 1,200 1,460 Total Sq Ft 3,114 3,162 3,390 $ (8,000) 4,440 $ (40,000) Quality VERY GOOD GOOD $ 5,000 VERY GOOD VERY GOOD Year Built 1988 1989 1988 1988 Condition VERY GOOD VERY GOOD VERY GOOD VERY GOOD # of Bedrooms 4 3+2 4 4 # of Baths 2.5 3.5 $ (2,000) 3.5 $ (2,000) 4.5. $ (5,000) Basement Area 1600 1900 2190 2980 Finished Bsmt NONE 1500 $ (18,000) 1500 $ (18,000) 2600 $ (31,200) Walkout YES YES YES YES Fireplaces 2 2 3 $ (3,000) 3 $ (3,000) Heat / Cooling FA - CA FA - CA FA - CA FA - CA Garage Size 3 CAR EXCAVATED 3 CAR $ 3,000 3 CAR $ 3,000 3 CAR $ 3,000 Deck YES YES YES YES Porches 3 SEASON - $ 5,000 3 SEASON 3 SEASON Lot Size Location HIGHWAY 78TH ST INFLUENCE $ (5,000) CHURCH /HWY $ (10,000) Other Other Other Other Restrictions Net Adjustment 000 $ (33,000) $ (86,200 Ad'. Sale Price 1 Sale Price [/1 $ 398 000 $ 406 000 $ 426,300 1 7 25.8 $ 119.76 $ 96.01 Assessing Dept. Page 1 4/8/98 ay y = - 77 _ 1 1' v � Case # 14 City of Edina Board of Review :.::.::.:::....:::::::::: «........::::: :::::.....:....:.::::.:.... ...I......A..... Assessor's Commentary Property I.D. Number: 18- 028 -24 -14 -0056 Date: 4/13/98 Property Address: 4833 TOWNES ROAD Owner /Agent Name: MICHAEL & ALLISON PELACH Comments: - We received the Board of Review application late afternoon, Friday the 6th. As of today, we have been unable to review this property for the 1998 assessment, The property was reviewed last in 1993 and reduced $10,000. at that time. During-1997, we had the following sales on this block. 4801 Townes Road 4 -97 $225,000 4809 Townes Road 5- 97$188,000 4812 Townes Road 5 -97 $244,000 All the homes on this block were built during the 50's and share commonalities. Because of the 1993 reduction, this property now has the second lowest value on the block. Although this value arrangement may be appropriate, no further reduction seems to be warranted. +C : logis.rlw- Reflection 1 CURTNEXT EMARKS 3 "'M ... OMEN ,': Iogis.rlw- Reflection 1 Mkt -Land 1996: 70300:: 1997: 78300>. 1996:. 78300 Legal Description :. Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT " /•;Onn 102500 180800 H R. 100 92300 170600 H R 100 92300 170600 H R 100 LOT 9 BLOCK" 1 "SOUTH WHITE OAKS ADDITION-- wlm DDITION- < „1?r<: ?ri1�71.`•``E ...6.�'.ilE .. ..13:11.11..: 2: m PROPERTY DATA SYSTEM TAXPAYER INQUIRY CURB 319 PROPERTY Ib i Pt.Con: Mt.Adr: HOUSEn FRACTION STREET NAME UNIT ZIP+4 Front: Back:. X1033 1/ TU#N1 S: Rf3 55424* Right: Left: OranerI: PELACH MICHAEL A Oraner3: Oraner2: PELACH ALLISON B Ouner4: Zoning: 0000 Prirn /sec :. Yr.blt: 1956 . Area:. Acres: -.00 Sch.Ost: 273 ftshd: 03 Gr /Os /Ex ::: Subrecs: 01 Width: Depth: Mkt -Land 1996: 70300:: 1997: 78300>. 1996:. 78300 Legal Description :. Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT " /•;Onn 102500 180800 H R. 100 92300 170600 H R 100 92300 170600 H R 100 LOT 9 BLOCK" 1 "SOUTH WHITE OAKS ADDITION-- wlm DDITION- < „1?r<: ?ri1�71.`•``E ...6.�'.ilE .. ..13:11.11..: 2: m City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application P.I.D. # Application Date: April 1 1998 Attach any supporting documentation Owner Name: Michael & Allison Pelach Owner Address: _ grjafj Edina., MN- Home Phone Number: 927 -5302 Business Phone Number: 310 -5090 Property Address: Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: 180,800 1 believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: Purchase Date: 1987 Total purchase price (land & bidgs.): 128,000 Year Built: House: Garage: Additions (Explain): Condition of Structures (Explain): Description & value of additions and improvements since your purchase of this property: N/A Professional Appraisals: :.(Please attach a.copy of any recent appraisals} Aporaisal Date: Indicated Value: Exptain:the.reasons for our: objection. to the. assessor's: estimated market:vatue: In 1997 qround water flooding caused considerable dams a to our home. It also destroyed our backyard and landscaping. It's obvious we must now list "prior water damage & flooding" on any real estate transaction and that grp-atly reduces the market value of our property. I feel our property did not increase in value from 1997, but actually became less desireable. I'm requesting that the market for 1998 remain the same as 1997. I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant`- � /- RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED 70 HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. CASE #14 4833 TOWER RD FRONT VIEW Case # 19 City of Edina Board of Review Assessor's Commentary Property I.D. Number: 18- 028 -24 -44 -0067 Date: 4/13/98 Property Address: 5308 HALIFAX AVE Owner /Agent Name: JACQUELINE S MITHUN Comments: The subject property, is in normal to good condition. It has 4 bedrooms and 2 baths. The comparable properties are in the same desirable neighborhood, but smaller in size. The home owner is concerned with the day care home on Minnehaha Blvd. and the house to the North. logis.rl w - Reflection l s+. }�+��{..41. .,`. ?L} >.yiiiii e{��,,.�,,yy,,��.� yy����yy��.. :�' ...' • it w,� v5�(}NY.t. :titi� I�.'•1�%�.` ,kk ?...,:.:.,•::: R"i :9A!~`:il�wiR .. �:�iR�:� #: {tiff• ..t..:.::...t,...:.... «.:,,........t.,..t... ,t: logis.rl w - Reflection 1 PROPERTY DATA SYSTEM SALES RECORD UPDATE. ICURR 108 PROPERTY ID " --------- - - - - -- Address:-------- - - - - -- NEXT :! .PROPERTY DATA SYSTEM' Mkt- Bldg.:. Mkt= Mach; >! <:_ Mk# =Tot Tx Capacity: Hd PT .TAXPAYER INQUIRY, 1990:.: 73000: :. CURR:319 PROPERTY ID H: :> R::. 100 1997: NEXT 104700 177700 H R 100 1996: GUOl10: 117700.:.: Pt.Cnn:,. Mt.Adr: HOUSE4 FRACTION: " STREET NAME UNIT''. ZIP-4:. Front: 60 Back :. 530fE 1/T HALIFAX!iAVE .55424 :: Right: Left :, Owner I:= MITHUN .: JACQUELINE. :5 Oraner3; 2ND ADDITION" Oraner2: Uraner4:` Zoning. 'R -1 :..Prim /sec:::. Yr. bIti:1947 Area:- 14700 Acre .00' Sch.Dst:':: 273 "'Nshd:: 03 Cr /Os /Ex: 5ubrecs: 01 Width: 6U Depth:: 245 s+. }�+��{..41. .,`. ?L} >.yiiiii e{��,,.�,,yy,,��.� yy����yy��.. :�' ...' • it w,� v5�(}NY.t. :titi� I�.'•1�%�.` ,kk ?...,:.:.,•::: R"i :9A!~`:il�wiR .. �:�iR�:� #: {tiff• ..t..:.::...t,...:.... «.:,,........t.,..t... ,t: logis.rl w - Reflection 1 PROPERTY DATA SYSTEM SALES RECORD UPDATE. ICURR 108 PROPERTY ID " --------- - - - - -- Address:-------- - - - - -- NEXT :! Mkt &:: Mkt- Bldg.:. Mkt= Mach; >! <:_ Mk# =Tot Tx Capacity: Hd PT TYPE SALES 1990:.: 73000: :. -. 1135110.. 186500: H: :> R::. 100 1997: 73000> 104700 177700 H R 100 1996: GUOl10: 117700.:.: 177700. W: R:::. 100 Legal. Description: >; :::.. LOT: 14 BLOCK :: 2 - ..:... "SOUTH HARRIET PARK, 2ND ADDITION" s+. }�+��{..41. .,`. ?L} >.yiiiii e{��,,.�,,yy,,��.� yy����yy��.. :�' ...' • it w,� v5�(}NY.t. :titi� I�.'•1�%�.` ,kk ?...,:.:.,•::: R"i :9A!~`:il�wiR .. �:�iR�:� #: {tiff• ..t..:.::...t,...:.... «.:,,........t.,..t... ,t: logis.rl w - Reflection 1 PROPERTY DATA SYSTEM SALES RECORD UPDATE. ICURR 108 PROPERTY ID " --------- - - - - -- Address:-------- - - - - -- NEXT :! 5308 1/ HALIFAX AVE SALE TYPE SALES DATE: PRICE OF SALE:. RATIO ;...l.i.�. `l� /198Ei : 137900: S :: 0/190: 1011100 G _ ,/ REMARKS.' it > \ ' lf W >w: >: �Lq �guyi yyyyjjyy Vi•'y.}iiii: C:!T�i }y+: ''�t�v]i!! i•TiIFTYII't City of Edina 4801 West 50th Street -dina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [fDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Assessor's Office Application Date: Attach any supporting documentation Owner Name: JQ f C4 U C t S Owner Address: i Home Phone Number: 0 3 tp Business Phone Number: Property Address: �,ao �; t 5 - Assessor's estimated market value for January 2, 1998: Land: Buildings: Total: I believe the estimated market value on January 2, 1998 should be: h Land: Buildings: Total: /111 1 0 el Purchase Date: Total purchase price (land & bldgs ): 3 5 fe i ou o he /s C41C 4 (ear Built: House: / ` Garage: Additions (Explai ). Z C S Condition of Structures (Explain): a i4 e Descript' n & value of additions and improvemen # since your purchase of this property: q St' C- 6L a o ;, ... Professional A praisals.. (Please: attach a cope �f any recent appfa� Isj Appraisal Date: Indicated Value: Exptain:the:reasansfnr. our: objecfion ::tafae:assessor's:estimated rriarkef> value re Ji co ce C` a -� 8 s TP a i e -mss c 3o �/ k3 If . S a c'_ e 6 +- 6 17 a D yX) 6 5-9 60 e J- S A acs/ 1 DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY �seh� KNOWLEDGE AND BELIEF. Signature of applicant: d, RETURN THIS APPLI TIO TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOU PRO ERTY REVIEWED PRIG TOT SCHEDUL D BOARD OF REVIEW MEET G. % Y�,t��t �l 0�1 c�� �j �`�I �n Qi�OS1— x ACS` JY1uC 4cS 1�L°a/' - / , net 'ak - L, w 1Xis yeq . C i I L f n e ` �.. . - -7 ^ L B� /"7 4 f? A A / /-' .. ,.,,. n n , 017" YGI City of Edina Board of Review Address 5308 HALIFAX AVE PID # 18- 028 -24 -44 -0067 Case # 19 Assessing Dept. Page 1 4/9/98 Sales Comparison Adjustment Grid Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 5308 HALIFAX AVE 18- 028 -24-44 -0067 5124 HALIFAX AVE 18-028 -24-41 -0113 5104 INDIANOLA AVE 18-028 -24-41 -0124 5112 INDIANOLA 18- 028 -24-41 -0126 Sale Date Feb -92 Dec -97 Sep-97 Oct -97 Sale Price $ 176,000.00 $ 220,000 $ 217,500 $ 230,000 Time Adjustment $ - - Adj. Sale Price $ 176,000.00 $ 220,000 $ 217,500 $ 230,000 Price / Sq Ft $ 96.02 $ 153.52 $ 164.27 $ 182.11 Style 1 1/2 1 1/4 1 1/4 1 1/4 1 st Floor Area 1,213 1,158 1,074 1,263 2nd Floor Area 620 275 250 - Total Sq Ft 1,833 1,433 $ 8,000 1,324 $ 10,000 1,263 $ 11,000 Quality GOOD GOOD GOOD GOOD Year Built 1947 1940 1941 1941 Condition GOOD VERY GOOD $ (10,000) VERY GOOD $ (10,000) VERY GOOD $ (10,000) # of Bedrooms 4 2 UP 31 UP 31 UP 2 # of Baths 2 2 2 1 $ 1,000 Basement Area 1184 1158 1039 1200 Finished Bsmt 600 500 NONE NONE Walkout NO NO NO NO Fireplaces 2 1 $ 1,000 2 1 $ 1,000 Heat / Cooling FA -CA FA - CA FA - CA FA - CA Garage Size 2 CAR TANDUM 1 CAR $ 3,000 1 CAR $ 3,000 2 CAR $ (2,000) Deck YES $ 1,000 $ 1,000 $ 1,000 Porches SCREEN 3 SEASON $ (3,000) 3 SEASON $ (3,000) SCREEN Lot Size 60 X 245 75 X 108 75 X 105 75 X 105 Location VERY GOOD VERY GOOD VERY GOOD VERY GOOD Other Other Other Other Restrictions Adjustment Net Adjustment $ - $ 1,000 $ 2,000 I rice Ad'. Sae P 1 Price Sale P $ 000 $ 218 500 232 000 $ 153.52 $ 165.03 $ 183.69 Assessing Dept. Page 1 4/9/98 OF 77= tz LION- d' Z rte` - kv,; ; rijo of RAN Case # 24 City of Edina Board of Review Assessor's Commentary Property I.D. Number: 07- 028 -24 -43 -0058 Date: 4/13/98 Property Address: 4409 MORNINGSIDE ROAD Owner /Agent Name: TIMOTHY & KRISTI HEALY Comments: - — -- The former owner of this home was deceased in late 1996. Her son inherited the house which soon was being threatened with foreclosure. A 3rd private party purchased this property (from the son) and shortly thereafter sold to the Healys whose previous address was two blocks away. Throughout this unusual chain of ownership , the home was never exposed on, the market. The property was reviewed on 3/16/98. The Healys are in the process of repairing and making improvements to the home. The condition of the property had been previously noted and reduced in a prior assessment. The property is an all brick expanded bungalow. The style type and location are excellent and in high demand. An addition in 1977 made an already good sized home considerably larger. The home is also superior to other homes in the neighborhood in that it is located on a a double lot. (.48acre) Refer to grid analysis, recommend a further reduction in value to $216,000. 4. logis.rl w - Reflection 1 Mkt- Tot 'Tx Capacity - Hd PT" Dmr 227000 H::: .R IUD, 214200 M R'. 100 21000U.., H R 100 ..::.............. :vl!I.S .J�a■ j� logis.rl w - Reflection 1 -PROPERTY DATA SYSTEM SALES RECORD' UPDATE.: CURR 100 PROPERTY ID: -------- - - - - -- Address:-------- - - - - -- NEXT 4409 1/ MORNINGSIDE RD SALE TYPE SALES. . DATE PRICE OF SALE RATIO REMARKS ''' ? ?£ <3 'zz is +:ti i �gyy��p�y�'y�y `hM.Y.f:•:ii.RR4ii; ' Mkt- Land:.:;;::,. PROPERTY <DATA SYSTEM 1990: ; 40001 1a7000. 1997: TAXPAYER:. >INgUIRY 174200'` 1996: PROPERTY I0 : Description : :e: -. -:' LOT 24 BLOCK.:: NEXT "GRIMES HOMESTEAD - :'. N 210 FT P CO HOUSED FRACTIQNri '::STREET:NAME - ::UNIT s:ZIPt4;:i Front: Buck 4408: <:. 1/r . .. - 110RNItJt520 ;RO x:55416* Right.:.. Left Orurerl: HEALY TIMOTHY 6 x. Orrner3: . Owner2: HEALY KRISTI. K'''''Uo-iner4i 2oning: ..0000 ::.Prim /see ::. Yr.blt. 1951 :... Area ::: Acres 007 Sch.Dst: 273 : :Wshd: U3 Gr /Ds /Ex >.;,. Subrecs : :01 Flidth:, Depth Mkt- Tot 'Tx Capacity - Hd PT" Dmr 227000 H::: .R IUD, 214200 M R'. 100 21000U.., H R 100 ..::.............. :vl!I.S .J�a■ j� logis.rl w - Reflection 1 -PROPERTY DATA SYSTEM SALES RECORD' UPDATE.: CURR 100 PROPERTY ID: -------- - - - - -- Address:-------- - - - - -- NEXT 4409 1/ MORNINGSIDE RD SALE TYPE SALES. . DATE PRICE OF SALE RATIO REMARKS ''' ? ?£ <3 'zz is +:ti i �gyy��p�y�'y�y `hM.Y.f:•:ii.RR4ii; ' Mkt- Land:.:;;::,. Mkt -Bldg Hkfi- Mach <:.._ 1990: ; 40001 1a7000. 1997: 40000:: 174200'` 1996: 40000_ 1700110 Legal. Description : :e: -. -:' LOT 24 BLOCK.:: "GRIMES HOMESTEAD - :'. N 210 FT Mkt- Tot 'Tx Capacity - Hd PT" Dmr 227000 H::: .R IUD, 214200 M R'. 100 21000U.., H R 100 ..::.............. :vl!I.S .J�a■ j� logis.rl w - Reflection 1 -PROPERTY DATA SYSTEM SALES RECORD' UPDATE.: CURR 100 PROPERTY ID: -------- - - - - -- Address:-------- - - - - -- NEXT 4409 1/ MORNINGSIDE RD SALE TYPE SALES. . DATE PRICE OF SALE RATIO REMARKS ''' ? ?£ <3 'zz is +:ti i �gyy��p�y�'y�y `hM.Y.f:•:ii.RR4ii; ' City of Edina 4801 West 50th Street Edina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [fDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Application Date: 3 30 Attach any supporting documentation Owner Name: -rjAr\ 7X ij `i A:iE fA LI-7 Owner Address: qqocf I Home Phone Number: / 92L ` L625 Business Phone Number: ' M � `I - yI 5 Property Address: �- 617 Assessor's estimated market value for January 2, 1998: Land: Z/O/ WO - Gtr Buildings: L�-�" ' (-I) Total: Z I believe the estimated market value on January 2, 1998 should be: n r-- Land: y(J1 cx ' Ot) Buildings: Total: Ci v Purchase Date: I 5 Total purchase price (land & bldgs.): 112 4 35 1 2 Year Built: House: Garage: lqS Additions (Explain): 19 -7-7 , 0 A � °`p pO(C er rn Condition of Structures (Explain): 009 - -7 e-, 005e Qi (p { ha< f )CCy1 (�,e �� V, �n ct D scr' tion & value of addi ions and im rove tents since your purchase of this prop rty: I �-e 3 5� Q -Cc1 t� ;►� �{t�SS zorne_ .1,t n imp o�•e .� �5 t1 7i ' h i ` o Y-� r•c :P.of I W.......... r..easivna..A pta�,sais.........f ....ase.atta.... cap .Q .any. te+�ent.ap ..a�sala ............. ............................... . A raisal Date: Indicated Value: �( o GZ,`Z� • O7-7- Assessor's Office WIN NKI 10 •! ",kFaLka. KNOWLEDGE AND BELIEF. Signature of applicant: J 1:5 i v •-r 11 IS COMPLETE AND TRUE TO THE ISEST OF MY RETURN THIS APPLICATION TO THE EDINA ASSESSOR'SkOFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. v� rye re cs -ior) it, akkacKe & Ao)WcV� o0r- (io r w c A l Ytole '; n �e� li r1S v�he�e ��ov e_ o t�Clt. 5tdoc� �n� Ch i m n e t n use oe- v bu ( W,\Ir\AoWS measuri n C9` x 3 rnuSE 'JCC�e► -� Se�.l,s - i naS�e. c;u.� r�ec��'� �� h -�c� -� - S use care yv,-Q m0. o r PP M o'0rk, r<\,r5 . 1 r oo c a r. e ch wkk;ck\ 'fLk roar A O F VNej -kcLJ • 'I y O c( M ®eNzw0'io F P-(,). 1 S a "+h �,e �e. peek iM 1' , r 1 d U S t.0 (-Vln d "�. ► h c.� qeS , \ �" �1 aS �o ►^� e �paC� -5 u� ��, �(ea� Pte' cx 2- � f1S u se. - eye. ko��d�l *V.e pe(5on we pu(cha5e4 VI 005e SeNro�-n c" j V Cvjer Chalks cz Kd ja n e- POIOV 5 CLO ot-, 00( ?fope-( So I(1e C s (� ►1 i n-� o f hwve c� ACR, INC. REAL ESTATE APPRAISERS NO. November 15, 1997 Mr. MARK SCOFIELD WEXFORD FINANCIAL, INC 15 South 5th Street, Suite 900 Minneapolis, MN 55402 File Number: In accordance with your request, I have personally inspected and appraised the real property at: 4409 Morningside Road Edina, MN. 55416 The purpose of this appraisal is to estimate the market value of the subject property, as improved. The property rights appraised arc the fee simple interest in the site and improvements. In my opinion, the estimated market value of the property as of November 15, 1997, is: One Hundred Ninety Thousand Dollars ($190,000) The attached report contains the description, analysis and supportive data for the conclusions, final estimate of value, descriptive photographs, limiting conditions and appropriate certifications. Sincerely, LP.Haeg, MN.I #4000794 7617 Lyndale An Soulh, Minnmpolis, MN 55423 (612) 869 -2628 w000w!CA! DCDAAT until a Pro et-t I tion city Edina Slate MN. Zi Code 416 Property Address 440 Mornin side Road coup Henna in tionNorth 210 ft. of Lot 24 Crimes Homestead Legal Descri Parcel No. 07 028 24 43 0058 Tax Year 1997 RE. Taxes $4 .300.34 S ecial Assessments $2 8 8. Assessor's Occu ant: Owner EJ Tenant I I Vacant Borrower BU ER• EA Y Tim & Kristi CurrentOwner Se11er:Arundel N /A/Mo „ Property rights a raised Fee Sim le Leasehold Pro ecl Type PUD Condominium HUD A onl HOA$ 8 -410 Census Trac12 6 Nei hborhood or Pro ect Name N/A map Reference Sale 10-lb-97 Description and $ amount of loan charges/concessions to be paid by seller N/A Sale Price $ 179,500 Date of Lender /Client WEXFORD FINANCIAL INC. Address 15 South 5th St. Suite 900. Minneapolis, MN 55402 J P HAEG Address7617 L ndale Ave. S Minnea olis MN 42 Appraiser Location Urban Suburban Rural Predominant Single family housEing Present land use% Land use change ❑ ® Over 75% ❑ 25 -75% ❑ Under 25% occupancy fRIICoE Vin) One family 100 ® Not likely Likely Built up ❑ In process ❑ Rapid ® Stable ❑ Slow ® Owner 150 Low 20 2 -4 family Growth rate Property values ❑ Increasing ® Stable ❑ Declining ❑ Tenant 00+ High 70 Multi- lamily To: Demand /supply ❑ Shortage ® In balance ❑ Oversupply ® Varanl(D S0 Predominant Commercial Marketin time Under3mos. 3 -limos. Over6mos. vaunt o•ersi 200 40 If Note: Race and the racial composition of the neighborhood are not appraisal factors. is comprised of compgtible residential homes It is Neighborhood boundaries and characteristics: The neighborhood Hwy 100 south of and west of France Ave S - north of 50th St east of that the marketability of the properties In the neighborhood (proximity to employment and amenities. employment stability, appeal to market, etc.): - Factors affect is located in an area comprised primarily of single family homes of varying but The sub'ect style and age. Neighborhood upkeep is considered averse to good with some original conforming homes having conforming and functional additions. Proximity to schools shopping and em to ent makes this a desirable place to live. No adverse factors noted. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand /supply, and marketing time - - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): interest bu downs and Market conditions in the subject neighborhood are average. Loan discounts other concessions are available in the present market. Excessive seller contribution or concessions when found are deducted in the market data analysis. Protect Information for PUDs (11 applicable) - - Is the developer /builder in control of the Home Owners' Association (HOA)? U YES LJNO _ Iola[ number of units in the subject project Approximate total number of units for sale In the subject project Approximate Describe common elements and recreational facilities: Contoured Topography Dimensions 100 x 210 Comer Lot Yes W No Size Typical for area Site area 21000 Sg Ft Specific zoning classification and description Single Family Residential Shape Rectangular ®Legal ❑ Legal noncordoming (Grandlaftreduse) Illegal No zoning Drainage Appears ade ate Zoning compliance View Of similar homes n Highest 8 best use as Improved- Present use Other use (explain Off- Wtebnprovements Type Public Private Landscaping Typical for area Utilities Public Other Street Bituminous ® O Driveway Surface Concrete Paved Electricity ® Curb /guller Concrete Apparent easements None a rent Gas ® Sidewalk Yes ® E] FEMA Special Flood Hazard Area Yes No Water ® Street lights Yes ® ❑ FEMA Zone C Map Dale 1 -2 - 4 Sanitary sewer Alle None FEMA Ma No. 2705320-4002 Slarm sewer Comments (apparent adverse easements• encroachments. special assessments, slide areas, illegal or legal nonconforming zoning. use, etc.): Im rovements on this conform to the current zoning regulations. The lot is tyRical of neighborhood property in terms of size and appeal, with no aR29 rent adverse easements or encroachments GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION 1 8 Root Cncl. No. of Units One Foundation Cone Block Slab NO Area Sq.Ft. 50 Ceiling Cncl. Q No. of Stories 1 Exterior Walls Brick Crawl space No %Finished AS h. Sh. Basement Yes Ceiling Col OTile Walls Cncl. Type (Del. /All.) Detached Roof Surface Design (Style) 1 St Gutters & Dwaspls. Yes Sump Pump No Wells WOOdPanel Floor Cncl. Q -Floor . Exisling /Proposed Existing Window Type Wood D. H. Dampnea None noted _ Vn l /Cr t None ❑ Age (Yrs.) 1 1 Storm /Screens Combntns Settlement None no ed outside Entry None Unkn w None noted BsmtT ieal4Area StandardForArea EllectiveA a Yrs. 0 ManufecluredFbuse No Infeslalion Dining Kitchen Den Famil Rm. Rec. Rm. Bedrooms / Baths Laud Other Area - ROOMS Fo er Livin 1 Basement 1 1 2 024 Level[ 1 1 1 - Level • Rooms Bedroom(;)- 1 Balh s 2 024 S uare Feet of Gross ivin Area Finished area above rade ontains- INTERIOR Materials /Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES ® CAR STOOGE: Floors Oak /C.T. /A Type FWA Refrigerator ❑ ❑ None ❑ ® Fireplace(s) #2 Patio 1 ® None Garage I of cars - Walls Plaster /A Fuel Range /oven ❑ Stairs Drop Stair ❑ Deck 0 Attached 2 Trim /Finish Stained /A cwrmSonAvera a Disposal ❑ Porch 0 Detached COOL Bath Floor Ceramic Tile /A Ishwasher E-1 Scullle f0 f�1 Fence 0 Bulll -In Bath Wainscot Ceramic Tile /A Central None Fan /Hood Floor l4J ❑ E) Carport Doors Wood /A Other Wall Microwave ❑ Healed Pool Condition AZ ;asher/Orver niFinished Driveway Additional features (special energy efficient items. etc.): See Attached Addendum. depreciation (physical, functional, and external), repairs needed, quality of construction. remodeling /additions, etc.: F100C Dir' Condition of the improvements. provides-for-average-functional use. Design and appeal in conformation with neighborhood. gpoirs are necessary. - conditions (such as, but not limited lo, hazardous wastes. toxic substances, etc.) present in the Improvements, on the site, or in the Adverse environmental NO adverse environmental conditions were noted during the property immediate vicinity of the subject properly: inspection effecting the sub'ect or surrounding-properties. Fannie We FOlm 1001 6-93 Re it Mu Form 70 6-90 ..- b- .- v- .a— +mr. o... 1-1 ...n�.•, aauarnou foectnetJTlel APPRA1S81 RFPART cn_u. Valuation Section ...... .........�_._ —._ ....— - -- ESTIMATED SITE VALUE ................. ........ ° E 60.000 ESTIMATED REPRODUCTION COST -NEW OF IMPROVEMENTS: Dwelling 2 , 024 Sq. Fl. 0 E 85. 00 ° S 172.040 BsmtlnAbveCOSt Sq. Ft. 0$ BsmntFin F /Ps Patio etc. = 15.000 Garage /Carport 378 Sq.Ft. O S 16.00 ° 6,048 Total Estimated Cost New. . . ... = E 193.088 Less Physical Functional External Depreciation 0% = E 57.926 Depreciated Value of Improvements ................... ° E 135, 162 "As-is" Value of Site Improvements, ....... .. . .. 000 INDICATED VALUE BY COST APPROACH ............ 1q8. 00150-55 --- -- -- -- - - -- - -- - • •-- - -- Comments on Cost Approach (such as. source of cost estimate. site value. square fool calculation and for HUD. VA and FmHA. the estimated remaining economic life of the property): See attached for building sketch and calculation of measured dimensions Physical Depreciation calculated using effective age/economic life method. No significant functional or external depreciation noted. Land /im rovement ratio typica l for area. Land extraction method used to estimate site value. Est. Remaining Economic Life between Yrs. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO.3 4409 Morningside Road Address Edina 5501 Kellogg Ave Edina 5613 Sherwood Ave Edina 4928 Dale Dr. Edina Proximity to Sub'ect Sales Price E 179.50 10 blks south E 218,500 12 blks SW $ 175,000 5 blks SW $ 191,000 Price /Gross tiv. Area E 88.690 S 127.550 E 114.750 S q9.580 Data and /or Verification Sources Inspection Homeowne 27 days MLS MLS/County records 29 days MLS MLS/County records 262 days MLS MLS/County records VALUEADMTMENfS DESCRIPTION DESCRIPTION I • - sad Imam DESCRIPTION -()SAdj,1.1 DESCRIPTION Sales or Financing Concessions N/A N/A CONV one Noted CONV None Noted CONV None Noted Dale of Sale/Time 10- 6- �Clsd. 4/ 97 Clsd. 6/97 Clsd. / Location Suburban suburban Suburban Suburban Leasehol&Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Site 21000 SF 8040 SF +/- +2,000 12750 SF +/- +1,500 29455 SF +/- -1,500 View Average Average Averaize Average Design and Appeal 1.5 Sty 1.5 Sty Rambler + _ - Rambler + _ - Quality of Construction Standard standard Standard Standard Age 1951 1941 1948 1950 Condition Average Ave rage. Ave-rage -Average Above Grade Room Count Gross Livin Area Totat Bdrm, : Oaths T.lai : Bdrma : Barns 6 1 : 1 1 s . Ft. +6 200 Total ; adrma : o,tha l: 1 F 1 :�_ 1 2 s . Ft. +10 000 Total Bdrma : aarha 11n a 2: h� -2,000 1 18 S . Ft. +2,100 1 2 024 S . Ft. Basement BFinished Rooms Below Grade 1358 Sq.Ft. 0 %Fin:1 -0 -0 1504 Sq.Ft. 2 %Fin:1 -0 -0 +2.500 1525 Sq.Ft. 0 %Fin:1 -0 -1 -1 00 1918 Sq.Ft. 07,Fin:1 -0 -1 -1 00 Functional Utility Heating/Cooling Average Gas FWA /Wall Average Gas FWA /CA -1,000 Average Gas FWA /CA -1 000 Average Gas FWA /CA -1,000 • EnercivElficieni llems Standard E.E. Standard E.E.: Standard E.E.: Standard E.E. Gara a /car ort 2 Car Garage 2 Car Garage 2 Car Garage : 2 Car Garage Porch. Patio. Deck. Fire laces etc. Patio 2 Fire laces Porch -5,000 2 Fireplaces Patio 1 Fireplace +1,000 Deck + 2 Fireplaces Fence Pool etc. Extra Items Net Ad l. total Outdated Int.Intrior k decor. decor: dated. -10 000 * - : E 1 00 Intrior decor: udated. -10 000 + - E Minimal Int. U dtn - 000 + - : S 8 00 Adjusted Sales Price of Cam arable Gross :12 : 2 et: -2 4 S 213,200 Cross :14.3 E 175,000 Gross: 6.9 Net • -4.1..$ 182,100 Comments on Sales Comparison (including the subject property's compatibility to the neighborhood. etc. ): See Attached Addendum. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO. 3 Dale. Price and Data Source forpriorsales withinwarofawraisal Pending Sale for $179,500 per P.A. No Prior Sale in Past 12 mo. Public Record No Prior Sale in Past 12 mo. Public Record No Prior Sale in Past 12 mo. Public Record Analysis of any current agreement of sale. option. or listing of the subject property and analysis of any prior sales of subject and comparables within one yearof the dale of appraisal: Pending sale on subject property. No prior sales over the pAst year have been indicated above for the compgrable sales. INDICATED VALUE BY SALES COMPARISON APPROACH .. ............................................ S 190.000 INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent E _ N/A /Mo. x Gross Rent Multiplier N/A = E M V f fF ■ ■ f tF Y This appraisal is made W 'as is' U subject to the repairs. alterations. inspections or conditions listed below U subject to completion per plans and specifications. Conditions of Appraisal: This Complete Appraisal/Summary Appraisal/Summary Report is intended to comply with USPAP and contains no depgrtures from specific guidelines. Final Reconciliation Compgrable sales used were best available considering subject's location style and size. The market aRproach to value was given most consideration for it weighs size age, condition location and variable extras. The cost aPRroach is supportive to value. The purpose of this appraisal is to estimate the market value of the real property that is the subject of [his report based on the above conditions and the certification. contingent and limiting conditions. and market value definition that are staled in the attached Freddie Mac Form 439/Fannie Mae Form 10048 (Revised 1 /94 ) 1(WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE HEAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF November 15. 1 (WHICH IS THE DATE F CTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 190,000 • APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signature Signature Did Did Not Name J.P. HAE Name Inspect Property Date Report Signed Novembe 1007 Date Report Signed Stale Certification p #400079 State MN State Certification ii Stele Or Stale License A Slate Or State License / Stale Fannie Mae Form 1001 6/97 Freddie Mac Form to b /93 iM rww. w nsurn- rr.h�•: n.:r On.. l.—ram W...�m ll.UU. ••Certified Cenral Real Property Appraiser'• ACR, Inc. JIM RA Ml WA f ya ONO I-Zb .ILA I ow- sh '.✓ f�f�ffJffJ r is al ® -1 -cam•. 1 r aU KI� ACR, INC. REAL ESTATE APPRAISERS No. APPRAISAL DEVELOPMENT AND REPORTING PROCESS At the request of the Mortgage Company Client, I have conducted a Complete Appraisal intended to comply with Standard 1 of the Uniform Standards of Professional Appraisal Practice ( USPAP). No departure from Standard 1 were invoked. 'riic report itself is intended to meet the requirements of a Summary Appraisal Report as outlined in Standard Rule 2 -2(b) of USPAP that became effective as of July 1, 1994. This appraisal still meets all prior guidelines normally required for a FNMA/FHLMC appraisal. The report presents summary discussions of the data, reasoning and analysis that were used in the appraisal process to develope the appraiser's opinion of value. Supporting: documentation that is not provide with the report concerning the data, reasoning and analysis is retained in the appraiser's file. The depth of the discussion contained in this report is specific to the needs of the client and for the intended use stated in the report. The appraiser is not responsible for unauthorized use of this report. SCOPE OF THE APPRAISAL The purpose of this appraisal is to estimate market value, as defined, for use in a federally - related mortgage loan. This scope of the appraisal is intended to summarize the extent of the process used to collect, confirm and communicate data that is the basis of my value estimate. I personally inspected the subject property on the effective date indicated in the appraisal. Market data on comparable sales were taken from Multiple Listing Service unless noted otherwise. Sale prices and closing dates were verified through county records or with listing brokers. The land value estimated for the subject site was based on one or more of the following methods: comparable land sales, extraction, or the allocation method. Construction rates in the cost approach were derived from the Marshall & Swift Residential Cost Handbook which is updated quarterly. All appropriate valuation methods were considered, analyzed and reconciled and are the basis for my final opinion of value. Exceptions, if any, are discussed in this supplement. I believe my analysis of the subject's value was thorough and complete. However, this appraisal is by no means an exhaustive market study of the property. As previously noted this Complete Appraisal /Summary Report is intended to meet FNMA appraisal guidelines as well as the requirements of USPAP. ADDITIONAL FEATURES: Fireplace in basement recreation room. First floor features newer custom made oak cabinets in the kitchen, a coved ceiling in the living room with a brick fireplace, large family room, and three bedrooms and a full bathroom. Second level is unfinished with the potential of finishing approx. 600 s. f.. Large lot. Brick exterior. Two car garage. Some of the comparable sales sold at dates greater than 6 months prior to the date of this appraisal. Although this is a greater time than normally desired, the particular comps are still chosen for comparison due to their close physical and neighborhood characteristics to the subject and due to the lack of other comparables sold within the last 6 months. All comparables are of similar construction and all are located in the same general marketing area. The total adjustments or the amount of a single line item adjustments within the sales analysis were considered for normal market acceptance. Most emphasis placed on a weighted average of the three comparables adjusted sales prices. REMARKS - The gross and net adjustments are indicated for each comparable on the market data grid next to the indicated values. The adjustment percentages were within accepted lending guidelines unless noted otherwise. OMISSION OF THE INCOME APPROACH - I considered the income approach for this analysis. Nonetheless, the lack of reliable rental data in the subject's market area, made the income approach inappropriate for this appraisal. Single family homes are typically not purchased for investment purposes in the subject's neighborhood. COST APPROACH - Replacement costs rather than reproduction costs were used for determining the base rates and itemized cost components. In some instances this may lessen the need for incurable functional obsolescence being applied in the depreciation section. DATA SOURCES - The appraiser utilized Multiple Listing Services and retrieval services provide by Plat Systems Services. These systems access county and assessors records. 7617 Lyndalc Avc South, Minneapolis, MN 55423 (612) 869 -2628 ACR, INC. REAL ESTNFE APPRAISERS I,llo No. 7617 Lyndalo Avu Suuw, hlumanlaus, m�� aa• . ��,�� ••� - °_- ACR, INC. REAL ESTATE APPRAISERS Living File No. Floorplan Sketch 1.' 28 x 42 x 1 = 1176 tr' 7 .... ,. R.1.. 18 x 37 x 1 = 666 Garage 378 Total Sq Ft e.•.R... fl' I.' 42" 70' L....a r.r •1 rl•.. fOlr. as .l 1 n n nr r ra � It . ]I • 1 666 q 1.1 s• n mar Ij ll 1 rr. Living Living First Floor 2024 28 x 42 x 1 = 1176 Total Sq Ft 2024 7 x 26 x 1 = 182 18 x 37 x 1 = 666 Garage 378 Total Sq Ft 2024 7617 Lymlalo Ave South, Minneapolis. MN 35423 City of Edina Board of Review Address 4409 MORNINGSIDE ROAD PID # 07- 028 -24 -43 -0058 Case # 24 Assessing. Dept. Page 1 4/9/98 Sales Comparison Adjustment Grid . ............................... Subject Comparable #1 Comparable #2 Comparable #3 Address PID # 1409 MORNINGSIDE R 07- 028 -2443 -0058 4210 W 44TH ST 07- 028 -24-43 -0043 4408 BRANSON 07 -028 -24- 43-0057 4215 LYNN AVE 07 -028 -24-42 -0079 Sale Date Nov -97 Dec -97 Aug -96 Aug -97 Sale Price $ 260,000 $ 219,900 $ 226,500 Time Adjustment $ - - Adj. Sale Price $ - $ 260,000 $ 219,900 $ 226,500 Price / Sq Ft $ - $ 150.64 $ 170.20 $ 135.79 Style 1 1/4 BRICK 1 1/4 SIDING 1 1/2 1 1/2 BRICK 1 st Floor Area 2,059 1,208 862 1,068 2nd Floor Area ATTIC WALK UP ONL 518 430 600 Total Sq Ft 2,059 1,726 $ 6,700 1,292 $ 15,300 1,668 $ 7,800 Quality GOOD GOOD GOOD GOOD Year Built 1951 1922 1935 1942 Condition FAIR GOOD $ (40,000) GOOD $ (40,000) GOOD $ (40,000) # of Bedrooms 3 3 3 3 # of Baths 1 1 1.75 $ (3,000) 1.75 $ (3,000) Basement Area Finished Bsmt 650 SF + MIN BATH 720 SF BDRM /BATH $ (2,000) 700 SF + BATH $ (1,500) 370 SF $ 2,500 Walkout Fireplaces 2 1 $ 1,500 1 $ 1,500 2 Heat / Cooling NO CAC NO CAC $ (1,500) CAC $ (1,500) Garage Size 2 CAR 3 CAR $ (5,000) 2 CAR 1 $ 5,000 Deck NO YES $ (3,000) NO NO Porches NO NO NO YES $ (4,000) Lot Size 21,000 OR DBL LOT 10,000 OR SGL LOT $ 25,000 10,000 OR SGL LOT $ 25,000 12,300 $ 20,000 Location MORNINGSIDE MORNINGSIDE MORNINGSIDE MORNINGSIDE Other Other Other Other Restrictions Net Adjustment >; ? p`�� ? ` > >i ........................... (16,800) $ (4,200) (13,200) Ad'. Sale Price 1 243 200 $ 215 700 213 30 0 Sale Price I'1 140.90 $ 166.95 1 7.88 2 Assessing. Dept. Page 1 4/9/98 � J;`'' � -�:`. ,'/ �'• �:: :� i. yam• 7e ; r � ... .. - �~ � _,.. „ ._.. ., _ .2„ , :� :yam s , t �'a -_ .� •'� - �i. y y.r 4,-���ii: t, :�• � ! � '� _ _• ... - � ��— .....sae .�70 :+Tf���f►'�- r["'_ -^__ _ `�k� ...%'� �"�?����`�:w �+!'�:�a -,�... _ -..° - .M.^!0. a:` _ - _.. .:..- Case # 26 City of Edina Board of Review ~Assessor'st Commentary Property I.D. Number: 08- 116 -21 -11 -0018 Date: 4/13/98 Property Address: 5400 WEST 70TH STREET Owner /Agent Name: BOB LEVINE , PARTNER Comments: This is a 26 unit Apartment building built in 1969. It backs up to Nine Mile Creek. There are 19 basement level individual garages and 7 detached garages. An analysis of the 1997 income provided by the owner, a copy is attached, indicates a value that is greater than the 1998 EMV. The income approach is generally given the greatest weight when valuing an income producing property. A review of some recent sales also provides support for the 1998 EMV. I recommend no change to the 1998 EMV. is.rlw- Reflection 1 ':d F1 Rolm 01MMIDA "> ? i I F1 Igo F3 PROPERTY DATA SYSTEM TAXPAYER INQUIRY CURB 319 PROPERTY ID NEXT TH E 70 FT TH S 40 FT TH E 75 FT TH N ..MORE LEGAL y'�1�+....i:7xTiR:i: *ii:;: ....... ::::.::::::.:::: 4 is.rlw - Reflection 1 PROPERTY ID SALE DATE ................. _......- ... > » > > �r .�.r .r /;;i .. -r-- -' fir!:;::: ;; ter: PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 5400 1/ 70TH ST W ...... gal .. REMARKS CURR 108 NEXT >s2 :N- Mkt - Land. ::., Mkt -Bldg Pt.Con; Mt.Adr: HOUSEq FRACTION STREET NAME UNIT ZIP•4 Frant: Back:. 5400: 1/ 70TH ST II - -,:' .; 55439+ RiUht: Left :: Ownerl: CREEKSIDE_APARTM ENTS PARTN R Orrner3. 145000:: Owner2: - U1•111er4: 0 Zoning: Prier /sec: Yr.blt: 0000 Area: Acres:'' Sch.Dst: 273 Wshd: 01 Gr /Os /Ex: 5wbrecs: U1 Width: Depth: TH E 70 FT TH S 40 FT TH E 75 FT TH N ..MORE LEGAL y'�1�+....i:7xTiR:i: *ii:;: ....... ::::.::::::.:::: 4 is.rlw - Reflection 1 PROPERTY ID SALE DATE ................. _......- ... > » > > �r .�.r .r /;;i .. -r-- -' fir!:;::: ;; ter: PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 5400 1/ 70TH ST W ...... gal .. REMARKS CURR 108 NEXT >s2 :N- Mkt - Land. ::., Mkt -Bldg Mkt -Mach. Mkt- Tot Tx Capacity Hd PT 'Own 1998: 145000::'. 773200 918200 A 0 1997: 145000:: 689700 834700 A 0 1996: 145000:.. 650000 7951100 A 0 Legal Description: __= NO LOT AND BLOCK GIVEN =__ FELLMAN'S ADDITION COM AT SE CDR OF OUTLOT 2 TH NWLY TO SW CUR THOF TH NELY TO ANGLE PT IN - W LINE OF SAID OUTLOT 2 TH N 40 FT TH E 70 FT TH S 40 FT TH E 75 FT TH N ..MORE LEGAL y'�1�+....i:7xTiR:i: *ii:;: ....... ::::.::::::.:::: 4 is.rlw - Reflection 1 PROPERTY ID SALE DATE ................. _......- ... > » > > �r .�.r .r /;;i .. -r-- -' fir!:;::: ;; ter: PROPERTY DATA SYSTEM SALES RECORD UPDATE --------- - - - - -- Address -------------- 5400 1/ 70TH ST W ...... gal .. REMARKS CURR 108 NEXT >s2 :N- Cit; of Edina Assessor's Office 4Q01 West 50th Street Edina. MN. 05424 -1394 Phone: (612) 826 -0365 Fax: (612) 82G 0390 [fDD (Deaf Only) (612) 026 -03791 Board of Review Application For property Other Than Residential Application Date: April 6 1998 Affacn an supporting documentation Owner /Agent Name: Robert Levine Owner /Agent Address: 5005 Old Cedar Lake Road, St. Louis Park M 55416 Home Phone Number: 377 -1300 i Business Phone Number: 374 -1555 Proix,nty Address: 5400 W. 70th Street, Edina, M 55435 legal Description: Awmssnr's estimated inarket value for January 2, 1990: Land: Buildings: 918 200 1 Mal: 918,200 t believe the estimated market value on January 2, 1998 should be: Land: Bulldl.. s. 000 Total: 760,000 Purchase date: 1 -1_88 Total purdiasa rice (land 8 bld s.: 950 000 What did purchase ineiude?: All ! Terms of sole: Contract for Existing mortgage amount: 450 000 Condition (Explain): Description & value of additions and iinprovements since your purchase of this property: New anc es and HVAC units -appliances Professional Appraisals (Please attach copies): [kite: Indicated Value: gpralser riame and am to er: t bs. stliriiake °' mEit' laid:ttio.:r Sah� saE'. "otir.'o 'ect;G;I. a:t d9 esa :. a' it Rly��.2t Malik#.: Bash upon i nnc 760,000. See attached Income Statement date 12- 31 -97. APPLICATION CONTINUED ON BACK. PLEASE COMPLETE THE REVERSE SIDE OF THIS FORM. RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. Application for property other than residential. continued - .laa `ctieick:: sill: I Office Warehouse .Apartment Motel /Hotel , Commorclal Industrial Other (describe): if:an No. of ER. units No. of 1 -Bdrm units 9 No. of 2 -adrm units 17 l , Rentlunit: ; Pent/unit: 490 - 550 t ReriUunit: 590 - 750 No. of 3 -Bdrm units i No. of 4 -Bdmn units Pool /Party room: Ronf / unit: Rent/unit: Other. --- - : Pj .. — ran,6o:' t-a��itysa e:oii!ri.d e5 Amount: 1,379,000 Carrier: F' Fund i Is tiny part of the real property NOT owned by you? No t If yes, pi ease explain: Jf: py:'i1r9aApy�ij `xti ; ;ICt u'rt ";:` �ci..:;.am Lctoahl9:¢2iaiOth'S — - -- - Name of lessee: Address of loseoo: When did the lease start7: Amount of 1he loose: Terms of the lease: Month to month _ Indicate any leasehold improvements: j If tiie 're e : :Is rriiiteif,: eaKO:cem INtA:tliii# stiCdiifi:f;AftCli o erating:stiateme 1t5 . Annual gross potential rent: 178, 000 Annual unreinimrsed expenses: 139, 000 Explain if the tenant pays any taxes (full or partial). Insurance, maintenance, etc: Basic utiliti In support of income information, please enclose a copy of income statements from all sources, operating i expense statements and /or a copy of any leuaea. Indicate If a lease has been recorded. I AM THE OWNER/AGENT OF THE REAL PROPERTY DESCRIBED ON T149 REVERSE SIDE OF THIS FORM, AND MY OPINION OF VALUE AS STATED ON THE REVERSE SIDE OF THIS FORM IS ACTUAL VALUE IN MONEY AS OF THE ASSESSMENT DATE OF JANUARY 2, 1999. I DO HEREBY AFFIRM THATTHE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE 8FS F KNO:;'LEDGE AND BELIEF. Signature of ipplic ant: RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6,1998. YOU MAY BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR ITO THE SCHEDULED BOARD Or- REVIEW MEETING. DWIM Creekside Apartments Tenant Rent Roll Information 1/09/98 APT .... ................. .. ......... . ... .. .. . . . ..... .. . IoNl. . .... . ....... H . .. GE ........ ... . 1011 .. ..... ... .................. .......... . .. ... ... . .............. .............. .. ... .. .. ... ....... .. ..... ................................. ..... .I . ............. . . ................: ......... . . .A.AN00W"NAM 101 Gunderson 4/11/96 1 OR 525.00 + 0 = 525.00 4/10/96 300.00 102 Saytes, Tom 9/11/97 1 13R 550.00 + 0 = 550.00 9/10/97 300.00 103 Lang 10/1/95 2 OR 650.00 + 0 = 650.00 10/11/95 250.00 104 Managers n/a n/a 2 B n/a, + n/a, = n/a n/a n/a, 105 Jarneston 6/11/97 1 OR 550.00 + 0 = 550.00 6/11/97 300.00 106 Brandon/Braziel 8/11/96 2 OR 625.00 + 0 = 625.00 8/5/96 300.00 107 Omoth/Swenson 9/1/94 2 OR 640.00 + 0 = 640.00 9/7/94 600.00 108 Simons, George 1/1/93 2 OR 620.00 + 0 = 620.00 12/29/92 300.00 201 Sealy 8/1/94 1 OR 515.00 + 0 = 515.00 7/28/94 300.00 202 Ingram 11/1/94 1 OR 515.00 + 0 = 515.00 10/26/94 300.00 203 Peterson 8/1/96 2 OR 625.00 + 0 = 625.00 8/5/96 300.00 204 Yu 7/1/96 2 OR 600.00 + 0 = 600.00 6/25/96 300.00 205 Church 12/1/97 2 OR 625.00 + 0 = 625.00 11/24/97 400.00 206 Lawton, Leigh 9/1/92 1 OR 510.00 + 0 = 510.00 9/3/92 300.00 207 Lai, Wing Kar 1/1/97 2 OR 650.00 + 0 = 650.00 12/31/96 300.00 208 Martinson, Ronald & Carole 11/1/91 2 OR 630.00 + 0 = 630.00 9/30/91 200.00 209 Kuusisto 1/11/93 2 SRI 625.00 + 0 = 625.00 12/29/92 300.00 301 Lonquist, Lorraine 11/11/90 1 13RI 490.00 + 0 = 490.00 7/15/90 400.00 302 Kuske, Scott 1/1/97 1 OR 550.00 + 0 = 550.00 12/11/96 300.00 303 Branch-Gehl, Raymond 10/1/91 2 OR 615.00 + 0 = 615.00 9/8/91 200.00 304 Craven, Ethel 4/1/90 2 OR' 590.00 + 0 = 590.00 2/15/91 200.00 305 Nwobodo 3/11/95 2 OR 620.00 + 0 = 620.00 2/2/95 400.00 306 Brown 10/1/96 1 SRI 525.00 + 0 = 525.00 9/23/96 300.00 307 Moe/Donnelly 11/11/95 2 OR 625.00 + 0 = 625.00 10/6/95 400.00 308 Cozad/Parmer 10/1/96 2 OR 625.00 + 0 = 625.00 9/23/96 300.00 309 1 Poirier, Dennis 10/11/97 2 OR 750.00 + 0 = 750.001 9/10/97 200.001 $14,845.00 $ 7,750.00 pd by Braziel Swenson pd $300 Ornoth pd $300 10/17/947 Moe pd $200 Donnelly pd $200 pd by Cozad CREEKINVALS worksheet (tenant info) INCOME Creekside Apartments Partnership Income Statement Year Ending 12/31/97 Rental Income 178,927.97 TOTAL INCOME 178,927.97 EXPENSES Advertising 611.24 Garbage 3,895.56 Insurance 9,974.88 Legal /Audit 445.00 Utilities 13,265.47 Repair and Maintenance 14,075.66 Real Estate Taxes 32,348.88 Telephone 325.00 Misc /License /Dues 584.50 Office 4,591.76 Snowplowing 2,099.00 Depreciation & Amort 57,321.00 TOTALEXPENSES NET INCOME BEFORE DEBT SERVICE INTEREST NET INCOME 139,537.95 39,390.02 45,110.50 (5,720.48) FINPARKS.XLS Worksheet Name (Creekside) EMV LAND BLDG TOTAL INCOME: POT RENTS GAR RENT TOT POT INC OTHERINC TOT OTHER ACTUAL INC RENT LOSS VACANCY @: VACANCY GARAGES GROSS OP INC ADVERTISING GARBAGE INSURANCE LEGAL/AUDIT UTILITIES REPAIR /MAINT REAL ESTATE TAX TELEPHONE MISC /LIC /DUES OFFICE SNOWPLOWING DEPRECTN /AMORT RESERVES a@ 0.00% $250.00 TOTAL EXP NET OP INC INTEREST NET INCOME CAP RATE ETR '97 DIVISOR: VALUE W /PP PERS PROP @ , INDICATED VALUE IND VAL PER DU 1998 EMV 5400 W 70TH STREET CREEKSIDE APARTMENTS PIN: 08- 116 -21 -11 -0018 3 STORY WITH BSMT PARKING WITH ELEVATOR / 4 STOP 7 DET GARAGES 19 TU GARAGES GAS HW HEAT UNIT AC 1998 $ /DU 145,000 773,200 29,738 918,200 35,315 1997 1997 ACTUAL ADJUSTED % OF INC INCLD 178,928 INCLD 178,928 611 3,896 9,975 445 13,265 14,076 32,349 325 585 4,592 2,099 57,321 0 139,538 39,390 45,111 (5,720) 0.0410 500 178,928 100.00% 178,928 611 3,896 9,975 445 13,265 14,076 0 325 585 4,592 2,099 0 0 6,500 49,868 129,060 0 129,060 0.0950 0.0410 0.1360 948,970 13,000 935,970 35,999 918,200 100.00% 0.34% 2.18°x6 5.57% 0.25% 7.41% 7.87% 0.00% 0.18% 0.33% 2.57% 1.17% 0.00% 27.87% 72.13% 0.00% 72.13% DWELLING UNITS: MIX 2BR/11/2 1BR /1 BA TOTAL 17 9 26 4/9/98 5400 W 70TH STREET CREEKSIDE APARTMENTS Built in 1969, and apparently in average to good condition RECENT SALES OF APARTMENTS 1 Mar -98 98th St at Portland Ave 92 d. u. Bloomington Built in 1960s 2 Jun -97 3536 Aquila Circle 36 d. u. St. Louis Park Built in 1962 3 May -97 3833 -37 West Broadway 10 d. u. Robinsdale Built in 1948 4 Jan -97 9912 Nicollet Ave S 7 d. u. Bloomington Built in 1962 4/9/98 BOB LEVINE: 374 -1555 $4,250,000 $46,195 reportedly in good condition $1,200,000 $33,333 reportedly in fair condition $450,000 $45,000 condition not reported $255,000 $36,429 ave to good condition Yom.•. `.✓x r� < s e;,! - 1..c.. ben µf - S Sty's`, v } "''rti ,'L IFNI% IWO REA NA , D- i�'��- $"`'',� -yam CASE # 28 City of Edina Board of Review :y Assessor's Commentary Property I.D. Number: 31- 117 -21 -11 -0008 Date. 4/13/98 Property Address: 6200 PARKWOOD ROAD Owner /Agent Name: ROBERT & MARGARET.FINK Comments: The home was purchased and to close April 13, 1998. The property was listed for sale at $449,000 " As Is ". Purchase Agreement Recorded sale price is $350,000. The previous owner had died and the trustees are selling the home. Recommended a reduction to $390,000. logis.rlw - Reflection 1 PRDPERTY:DATA SYSTEM_ TAXPAYER INUUIRY'" CURR.319. PROPERTY ID NEXT >, 0 Pt.Con: Mt.Adr: HOUSE# FRACTION STREET NAME UNIT ZIP *4 Frunt: Back:.. _.........._... ._.....- _. -._. 62A0 1/a PAAKttOD -RD -; <: SS436* Right: Left: .. Ownerl:.BARRETT ELIZABETH F Oraner3: Ownec2 01aner4:.. Zoning: - 0 Prim /sec: Yr.blt: 1973 Area: Acres: ,.. .00 Sch.Dst: 273 Nshd: U1 Gr /Os /Ex: Subrecs: 01 Width: Depth: PROPERTY DATA SYSTEM SALES RECORD UPDATE CURR 108 PROPERTY ID --------- - - - - -- Address -------- - - - - -- r 1E.,. 6200 1/ PARKNOOD RD . REMARKS >� jar •;�l••`:«<> � � ff.'s %> ME ...... Mkt- Land Mkt -Bldg Mkt -Mach Mkt -Tot Tx Capacity Hd PT X50wn 1998:. 62000 -. 363600 445600 H R 100 1997: 82000 363600 445600 H;. R 100. 1996: 82000 354900 4369UU H R 100 Leyal.Description:;.: LOT 8 BLOCK- 1 PARKWOOD KNOLLS 3RD ADDITION PROPERTY DATA SYSTEM SALES RECORD UPDATE CURR 108 PROPERTY ID --------- - - - - -- Address -------- - - - - -- r 1E.,. 6200 1/ PARKNOOD RD . REMARKS >� jar •;�l••`:«<> � � ff.'s %> ME ...... City of Edina Assessor's Office 4801 West 50th Street Edina, MN. 55424 -1394 P.I.D. # -21?- //7 -.21- 1 At - 1"1W Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Date Returned: t{_ 7 _ 9a Time: 3;S'0 p/n Received By: Q Case # for office. oral: ................... .................... ................... Application Date: Attach any supporting documentation Owner Name: C - /V - -' V7. _ i/? Owner Address: 5 Home Phone Number: Z _ / Business Phone Number: Property Address: Assessor's estimated market value for January 2, 1998: Land: 2 0 Buildings: 6 J� OU Total: 5; I believe the estimated market value on January 2,1998 should be: Land: Buildings: Total: ,350 oco c Purchase Date: / 'Total purchase price (land & bldgs.): 3 5 Year BuiltTHouse: Garage: Additions (Explain): Condition of Structures (Explain): _ (5 0 s _ N % S Description & value of additions and improvements since your ptYrchase of this property: .............................. ............... _.. _ ... ... ............................... .................. ...................... _ .. ... ..... ................. ..................... ............................... ............... ...... .. ...... ....... ............. .... ............................. ..................... ........ Professional A praisa�s; (Pease: attach a:cvp .of:any:recent:appra�sals Appraisal Date: Indicated Value: Explain the*easofis foc;. o.ur:obfecticn toaEhe: assessor 's:es#iMated:market:value:::. & I DO HEREBY AFFIRM THAT THE ABOVE INFORMATION IS COMPLETE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of a licant: ✓ ' RETURN THIS APPLICATION TO THE EDINA ASSESSOR'S OFFICE BY MONDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. • PURCHASE AG EEMENT 108. Address I­ _� L 107. Page 3 Data i REAL ESTATE TAXES sh a ai gayer shall pay, ATED FROM DAY OF CLOSING. 12THS, ALL, NONE real estate taxes due and payable In the year 19 �. HO Saner shell pay ORATED TO DAY OF CLO Q,_12THS, ALL NONE real estate loxes due and payable In the year 19M. If the t n 111. owing date is change t torea estate lax id shall. If prorated, be adjusted to the new closing date. Seller warrants taxes due and 112 payable in the year 19 Cs 7 7i will be ULL- ART -NON - homestead classification. It pert or n n'homestead classification is circled. 113. Senor agrees to pay Buyer at closing $ ! 0do 0 / ]%i-- /1i�41C>✓C� a 114. toward the non - homestead real estate taxes. Buyer agrees to pay any remaining balance of non- homestead taxes when they become 115. due and payable. No representations are made concerning the amount of subsequent real estate taxes. 116. POSSESSION: Seller shall deliver possession of the property not later than &*0, after closing. 117. An Interest, homeowner association dues, rents• fuel oil, liquid petroleum gas and all charges for city water, chisewer. electricity, and natural 11a. gas shall be prorated between the parties as of date of closing. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY 119. NOT INCLUDED HEREIN from the property by possession date. 120. ENVIRONMENTAL CONCERNS: To the best of the Sellers knowledge there are no hazardous substances, or underground storage tanks. except 121. herein noted: 122. 123 S ER WARRANTS THAT THE PROPERTY IS DIRECTLY CONNECTED TO: CITY SEWER )<YES C3 NO CITY WATER 'YES ❑ NO 124 DYER AGREES TO PROVIDE WATER QUALITY TEST RESULTS IF REQUIRED BY GOVERNING AUTHORITY ANIJ0011 LENDER. 1 S DYER AGREES TO PROVIDE, IF REQUIRED BY THE TERMS OF THIS PURCHASE AGREEMENT OR BY GOVERNING e� - 126. AUTHORITY AND/OR LENDER, A LICENSED INSPECTOR'S SEPTIC SYSTEM INSPECTION REPORT OR NOTICE INDICATING IF 27. THE SYSTEM COMPLIES WITH APPLICABLE REGULATIONS. NOTICE: A VALID CERTIFICATE OF COMPLIANCE FOR THE SYSTEM MAY a. SATISFY THIS OBLIGATION. NOTHING IN LINES 125 TO 129 SHALL OBLIGATE SELLER TO UPGRADE, REPAIR OR REPLACE THE 29. SEPTIC SYSTEM UNLESS OTHERWISE AGREED TO IN THIS PURCHASE AGREEMENT. 0. N 131. 132. BUYER HAS THE RIGHT TO A WALK- THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO ESTABLISH THAT THE 133. PROPERTY IS IN SUBSTANTIALLY THE S ME ONDITION AS OF THE DATE OF PURCHASE AGREEMENT. ' 1 , 34. BUYER ACKNOWLEDGES THAT NO ORAL REPAtSENTATIONS HAVE BEEN MADE REGARDING POSSIBLE PROBLEMS OF WATER 135. IN BASEMENT, OR DAMAGE CAUSED BY WATER OR ICE BUILD -UP ON ROOF OF THE PROPERTY '11A-A-1 " Y a� TI • -rl r]h TI+F F rn�ntir_ etere.•er� = nv SELLER: Irx13 . ER y?Zwda A ♦ 138.9R•1664&U1J1 UP. BUYER S H NOT RECEIVED A SELLER'S PROPERTY DISCLOSURE STATEMENT. Ael.. 139. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY. o\ 140. BUYER HAS RECEIVED THE WELL DISCLOSURE STATEMENT OR A STATEMENT THAT NO WELL EXISTS ON THE PROPERTY, pp 141. AND A SEPTIC SYSTEM DISCLOSURE STATEMENT OR A STATEMENT THAT NO SEPTIC SYSTEM EXISTS ON OR SERVES THE 0�1,42. PROPERTY, AS REQUIRED BY MINNESOTA STATUTES. Aft' k 143.1 ACKNOWLEDGE THAT 1 HAVE RECEIVED AND HAD THE OPPORTUNITY TO ;REVI ISCLOSURE AND 144. RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT. 145. SELLER(S) BUYER(S) 146. SELLER(S) BUYER(S) t' 147. J w L,� `�► NOTICE 148. k Fer.IV� ►� G 1� is Seller's Agent/Buyer's Agef6uai Agen n -Agent dart 149. e w ernes' r /�� ) 150, I ��Q r' f 4e_#,4C(✓� is Seller's Agent/Buyer's Age Dua Agen Non -Agent 151. 6,,1&1 f� ( ) 152. THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS. 153. DUAL AGENCY REPRESENTATION 154. DUAL AGENCY REPRESENTATIOIS OE /DOES NOT APPLY IN THIS TRANSACTION. 155. Broker represents both the Seller(s) and a Buyer(s) of the property Involved in this transaction, which creates a dual agency. This 156. means that Broker and its salespersons owe fiduciary duties to both Seller(s) and Buyer(s). Because the parties may have conflicting 157. Interests. Broker and its salespersons are prohibited from advocating exclusively for either party. Broker cannot act as a dual agent in this 158. transaction without the consent of both Seller(s) and Buyer(s). Seller(s) and Buyer(s) acknowledge that: 159. (1) confidential Information communicated to Broker which regards price, terms, or motivation to buy or sell will remain confidential 160. unless Seller(s) or Buyer(s) Instructs Broker In writing to disclose this Information. Other Information will be shared: 161. (2) Broker and its salespersons will not represent the Interest of either party to the detriment of the other; and 162. (3) within the limits of dual agency. Broker and its salespersons will work diligently to lacflitale the mechanics of the sale. 163. With the knowledge and understanding of the explanation above, Seller(s) and Buyer(s) authorize and Instruct Broker and Its salespersons 164. to act s dual agents in Ih s/Ir`ense /ctbn. 165. r Y1 %r✓ oe �i�' eller Buyer S�� Buyer Date Date Date I his dorm eVV��•�`• •. any BadGly W" our ' o' • REALTORS'• whh Ifds form of use or rrnsuse III IL i sg 1. Dale Pages 2. Page I of �pQ tweLT'J. � m 6�r �.. � � x Jam• /E RECEIVED OF Dollars ($ Al. all parties, on or of Purchase Agreement by P 5. the sum 1 to be deposited upon acceptance Buyer if purchase 6. by ECK SH NOTE as earnest money broker but to be returned 1oro ere located al: after acceptsnce, In the trust account prt payment for the purchase of the p party 7. before the third business day Seller. Said ear sl money P 8, Agreement is not ccepted y Slate of Minnesota, 9. Street Add County of O,J 10. City of 11. Legally d b� _ O arden bulbs, plants, shrubs. and 12. owned by Seller and used and located on said property: g rods; attached lighting 13. including the following property. it any, window shades, blinds, traverse and curtain and drapery burners. tan okers and other equipment used in 14. trees: storm sash, storm doors, screen W81er heaters heating plants (with any E 1 RENTED I NONE bui &in humidifier plumbing fixtures, w.�+ lacks . 15. fixtures and bulbs: P ui ment, electronic air teeter. Water Softener I6 tiO^ �fevI built -in air conditioning eq P um a ached television antenna, cable TV teens. e of Seller), sump Pump- microwave ovens, hood 17. and dehumidifier, liquid gas tank and controls di the property BUILT -INS dishwashers. g moke� lectors; fire laces cans, doors and garbage disposals, trash compactors, ovens, cook top stoves, 18. and wiring: ara a or o eners end all controls; 19. intercom's: ATTACHED: carpeting; gonal property: b S 20. head tors: AND: tDe following P ) 21. {� GOO�G Dollars. 22. agree to sell to Buyer for sum ol: ($ 23. all of which roperty Seller has t s Y 9 AO v e7 Ov 24. uyer .n y in l ing manner: Earnest money of the date of closing, and er rees to pay the ffoo�ploo�� cash on t 25. which Buy by financing in accordance with the attached addendum: #7. and $ ' Mortgage . Other: the b lance of $ Contract for Deed Purchase Money FHA VA Assumption s �� onventio I (If answer is IS, see attached addendum.) 9. purchase Agreeme 1 1 OT bjecl to a Contingency reemenl dated Agree Buyer tS / S NO ubject to cancellation of a previously written Purchase Ag i0n performed This Purchase A9 - Il as t have a Property inspect inspections. Buyer eleclp 31 Buyer has been made aware of the availability of property 32. at Buyer's expense. 33. This purchase Agreement IS / NOT s bject to an Inspection Addendum. (If answer is IS, see attached addendum. - I N or pages on line 2) 34. Attached are other addenda which are made a part of this Purchase Agreement. (Enter Page rW5 WNWj •Deed 35. DEEDIMARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a 36. pined in by spouse, it any, conveying marketable title, subject to: improvement of the property B Restrictions relating to use or imp easements Reservation of any mineral rights by the State Of Minnesota: lD) Utility end drainage 37 (A) Building and zoning laws, ordinances, state and federal regulations; 38. without effective forfeiture Provisions; (C) 39. which do not Interfere with existing improvements; (E) Rights of tenants as follows (unless specified: not subject to tenanciesl: 40' ified in writing): 41. (Fl Others (Must be spec 1 installments ELLER SHALL PAY ON DATE OF CLOS 42. SPECIAL ASSESSMENTS shall be paid as follows: m the year oI cios���y 43 BUYER AND SELLER SHALL pRORATE AS OF with Tthe a aTeslOate taxes due end payable 44 of special assessments certified for pay EL SHALL Y on date of- closing all other special assessments levied as of the date of this Agreement 45. BUYER SHALL ASSUME LER SHALL P OVIDE FOR PAYMENT special assessments pending as of the dale of this Agreement ssing authorities. (Seller's provision for payment shall be by 46. BUYER SHALL ASSUME / S gu er's lender.) 47. for improvements that have been order Y payment into escrow of two (2) times the estimated amount of the assessments, or less as required Y. 48. payr^ able in L�SHALL Yon dale of closing any deferred real estate taxes (i.e. date axes due and pay pecial, Green A 49. BUYER SHALL ASSUME . hereafter, the payment of which is mane of w s a result of the closing of this sale• ableethere w pay ived a notice of hearing for a 5p. assessments pay un aid special assessments pay 51. the year following closing and thereafter and any P may be �� � y If Agreement Seller representtis»thaS IlderwHAS NO ace / 52. not otherwise provided. As of the date of this Ag ��a auUxxd/ g Buyer shall ass public improvement project from any goverrxnerow reemenl and on or before the date of closin Buy 53. new p . 54 notice of pending special essmenl is issued after the date of This Ag of any such special assessments, and Seller shall provide or 55. payment of ALL / O E� THER: of any such special assessments. If such ��l E OTHER: ✓rte' �- payment on date of close AL / Buyer lender shall exceed $ �- ts I ids teal assessments as required _ by Y Date 57. assessments or escrow a Dale Buyers 56. Seller and Buyer Initial: Sellers 59. MKPA -1 (9197) suft 1041 troi97l r. 172. _ 173. 6sdt.7 - f�I"i Rdig G JwJ/ 174. jhisl i 31. BuY 175. I, the owner of the property, accept this Agreement and X 176. authorize the listing broker to withdraw said property from 177. the market, unless instructed otherwise in writing and 33. ' 178. 11 ve re awed all pa es of t is Purchase Agreement. i. lr ;e.17, 9►�K /� j/ ✓,,Ql*54/_ /ins /.u. S{.� 183. -6x fL�ll///%T't 'JIt' Ie72.E 5! 179. X 35.I (SelleY lgnature) (Date) 23.S lt o1 WhtGWhtQ 24. A� "'z ���1 L L Which Bu 25' 180. / / and S J (Sellere Printed Ne qq6 f - .-e ha4 P 181. X g, (Social Security Number - optional) (Mantel Status) jhisl i 31. BuY 181 X 32• at (Severe Signature) (Date) 33. ' 34-0 183. X (Selbre Printed Name) 35.I 364 184. X 31 (Social Security Number - optional) (Marital Status) 31 3 185. FINAL ACCEPTANCE DATE 1 agree to purchase the property for the price and in accordance with the terms and conditions set forth above and I have reviewed all pages of this Purchase Agreement. X - y� t /zc)9 j (Buyers Signature) V (Date) X •Zo b e y-) �`' ' �/ l)1 /r (Buyers Printed Name) X p �� -- - Z3 �3 ►t,� (Social Security Number - optional) (Marital St tus) 2L lWAIAAE F A I-Sy /e (Buyer. Printed Name) X (Social Security Number - optional) (Marital Statue) 186. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. 187. MN:PA -4 (9/97) IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL OUR 10428 110/97) CASE #28 6200 PARKWOOD RD FRONT VIEW STREETSCENE City of Edina 4801 West 50th Street 'ina, MN. 55424 -1394 Phone: (612) 826 -0365 Fax: (612) 826 -0390 [TDD (Deaf Only): (612) 826 -0379] Board of Review Residential Application Assessor's Office Application Date: p Attach any supporting documentation i Owner Name: AN Owner Address: 00-7 p" S E P Home Phone Number: Business Phone Number: - Property Address: a Assessor's estimated market value for January 2, 1998: Land: Z Buildings: 7 Total: 00 I believe the estimated market value on January 2, 1998 should be: Land: Buildings: Total: 3� Purchase Date: `- Total purchase price (land & bidgs.):� p 'ear Built: House: /w Garage: 2 Additions (Explain): Condition of Structures (Explain):,56i5 Description & value of additions and improvements since your purchase of this property: ASS e o /niG TS l4 6 - �cT� l J�iZ/IJG P ! v C©D6 Professional, Appraisals-: (Please attach _a copy of 4ny recent appraisals) Appraisal Date: Indicated Value: Explain:the:reasohs for . your: objection to the: assessor's: estimated market: value?- ::::::::::::. ' S 5 -T kl0 T1 i' p—l(f -j --zP— f J IN SU 00 G'ONyO17*10N c. &STAT25 T A1 O-1 6 K , CE - 6 LZAK S6 L T O. 5T-Q 0 00 /S - -- -- rifE LtQU E, 0 T/ M 0 ES -1-0 N , I DO HEREBY AFFIRM THAT THE ABOVE INFO ik ON IS COMPLE=TE AND TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of applicant: RETURN THIS APPLICATION TO HE E41NA ASS SOR'S OFFICE BY MvNDAY, APRIL 6, 1998. PLEASE ATTACH ANY DOCUMENTATION YOU FEEL WILL SUPPORT YOUR CASE. YOU WILL BE CONTACTED TO HAVE YOUR PROPERTY REVIEWED PRIOR TO THE SCHEDULED BOARD OF REVIEW MEETING. ,NG 4 March 28, 1998 Mr. Ed Peterson City of Edina Assessor's Office 4801 West 50th Street Edina, MN 55424 -1394 Re: 4007 Sunnyside Rd Mr. Peterson: I am writing to you, as you requested during our phone conversation last week, about the valuation of our home. I was unable to write sooner because my husband broke his finger last Saturday and had to have surgery. The last time we contested our valuation, you came out to our house, inspected it and agreed to a much lower valuation. No improvements have been made since that time except to repaint the dining room. The house has undergone further deterioration though, that we believe offsets any gains in the market in this area. The roof on the old kitchen addition began leaking into both the kitchen and the family room last winter. After a multitude of patchings, it still leaks in heavy rain. Because -the joint between the kitchen roof and the family room was so badly designed, it is a permanent weak spot. The only way to correct the problem is to completely change the roof line by replacing the kitchen roof entirely with a pitched roof with a new seam joining it to the family room roof instead of abutting it at the eaves. I am waiting for an estimate for this work. The family room ceiling texture is now stained and falling off in spots and the kitchen ceiling, which is a dropped ceiling, needs the insulation replaced. We haven't inspected it for damage to the wood yet. The exterior stucco has begun to fall off the house. We repaired it under the living room windows in the front of the house. The east side and the back of the house are in serious condition, with the stucco bulging out from the wall in spots. They are beyond patching at this point, and you have seen for yourself how unattractive the mismatched patching on the east wall is. We got estimates to redash the whole exterior when it started falling off last summer. Our best estimate at the time was about $11,000 dollars, which didn't include any repairs they might have to make to the substructure, depending on what they find once they get started. This estimate was made before the change in EPA law regarding sandblasting, and our expenses may increase significantly under the new law if there is any lead paint on the exterior. To reiterate all the still existing problems you saw on your visit two years ago: the foundation to the front porch is sinking and the wood on the porch has been damaged by carpenter ants; the wood floors in the living room and dining room are in such bad condition that they may not be refinishable; the wood floor in the kitchen needs to be refinished; the family room floor drops almost 6" (carpenter's estimate) from one end to the other; the ceilings upstairs are all stained from leaks from a badly installed roof, which we had to have patched weeks after moving in and is due for replacement; the family room walls and ceiling are full of soot from a smoky fireplace with a broken heatilator; there is dry rot in the two kitchen windows and two bedroom windows and the front living room and dining room windows need to be replaced, the wood is so damaged. The house probably isn't even marketable with the leaking roof, but since for your purposes we have to assume someone would buy it, I believe we could get, at most, in the mid -130s from someone willing to take on the expense of the exterior repairs and who is really desperate to live in this area. This is based on my experience selling our last house, which was on the market for three years. The buyer reduced the asking price for the estimated cost of all repairs. We sold it for a loss. Please contact us, 926 -4579, if you would like to see the house again or if we need to appear before the Board of Review. Sincerely, Marie F idem Michael L Mankey APR 0 99 1998 (9 02- 8 -2 q- 0oG3 April 6, 1998 City of Edina Assessor's Office 4801 West 50th Street Edina, MN 55424 -1394 Dear Sir/ Madam: This is regarding the Value Notice we received on our home at 5641 Woodcrest Drive. This, as you know is in the Colonial Grove area of Edina that was especially hard hit with the flooding in the summer of 1997. We did not incur any actual damage to our home, but only because we placed over 100 sandbags around our basement drain, basement shower and bathroom, in our toilet, and in back of our house (to keep -out the rising waters of the creek tributary that runs by our back yard). We bought drain plugs that also helped save us from damage. Many of our neighbors had to junk all of their furniture and carpeting, which sat on lawns for over a week. Local news stations were at a house a few doors down from ours, filming sewage gushing out of a toilet! Basements flooded - -with sewage, in some cases -- advertised by rotting furniture on many lawns, newspaper headlines and even TV coverage, were, in my opinion, and in the opinion of all of the neighbors with which I spoke, a distinct blow to all of our property values. This is true even for those who managed to avoid severe damage, because the neighborhood was devalued in the public's mind (and in ours as well). Our next door neighbors' property value went down, while ours went up a substantial amount. I thought that if our property value would change, it would change in a negative direction. Imagine our chagrin, less than two months after moving into our new house, as we fought -off rising sewer water in our basement, and had to rush to the aid of our neighbors for the same reason. Our first thought was "what have we gotten ourselves into ? ".. Our second thought was "why, with all the taxes that we are being assessed, is the sewage system so terrible ?" But that is another issue, not for this forum, which I'm sure you've heard ad nauseam To summarize, we are appealing the $28,000 rise in our property value. After the problems that occurred last year, which devalued our entire area, an increase doesn't seem warranted. Thank you for consideration of this issue. 1Sincerely, 6 Anne Marie & Britt Rogers April 03, 1998 City of Edina Assessor's Office APR 06 11998 31 -028 - 24- 21 - 0009 It is.again that time of the year to ask for a realistic Estimated Market Value on my home. Having paid for several appraisals on homes and receiving a claim that the figure can be 10% below or 10% above that figure. You are now notifying me that my house.-has a Estimated Market Value of $195,300. Last year I replaced the air conditioner for $2,000. The house still needs a $8,000 roofing replacement, some masonry work on chimneys and retaining walls to make them safe and a new floor surface put in the kitchen /dining room area. Those items would have to be done before it could be sold or that amount would have to be discounted. There are several other projects to be done where weathering and usual wear requires replacement for what I believe would cause additional value reductions. I also do not want to get into taxation on the value discussion when my house is said to have a higher value then my neighbors on all sides but I do not get any additional services, nor are we treated any differently than any higher valued home, but are discriminated against because someone felt we could pay a higher percent of taxes due to being above a $75,000. which is 1% versus1.85% for any house with a higher value. I feel Edina should take the lead and tax the property according to the services it provides, not on an assumed value of the property or the assumption the home owner has the ability to pay because the house has a higher value. Thanking you for your consideration, Donald M. jevre 7016 West Shore Drive, Property ID NO. 31- 028 -24 21 0009 Edina, MN 55435 MINUTES OF THE OF THE EDINA BOARD OF REVIEW APRIL 20,1998 5:00 P.M. Answering rollcall for the continued meeting of the Board of Review were Members Faust, Hovland, Kelly, Maetzold, and Mayor Smith. Assessor Petersburg noted receipt of three letters on April 20, 1998 from the following residents: Assessors Owner's Est. Name /Address PID Number Est. Mkt. Value Market Value Calvin Simmons 18- 028 -24 -24 -0009 $510,700 $500,000 4619 Wooddale Ave Hilbert S. Weiner 31- 117 -21 -32 -0085 $95,300 6936 Langford Drive David and Lisa Baldridge, 05- 116 -21 -31 -0043 $213,900 5824 West 68th Street Assessor Petersurg requested the Council sustain the assessor's value on the three properties, because of the lateness of the submittal. However, this still preserves the property owner's ability to continue on to Hennepin County. The Board reviewed each property previously submitted and discussed whether to sustain, decrease or increase the assessors estimated market value. Motion by Member Kelly, seconded by Chair Smith to reduce the Estimated Market Value of 5012 Schaefer Road, PID No. 30- 117 -21 -42 -002.1 to $600,000 from $735,000. Rollcall: Ayes: Kelly, Smith Nayes: Faust, Hovland, Maetzold Motion defeated. Motion by Member Hovland, seconded by Member Faust to reduce the Estimated Market Value of 5012 Schaefer Road, PID No. 30- 117 -21-42 -0021 to $700,000 from $735,000. Rollcall: Ayes: Faust, Hovland, Kelly, Maetzold, Smith Motion carried. Motion by Member Faust, seconded by Member Hovland to reduce the Estimated Market Value of 6627 Limerick Drive, PID No. 05- 116021 -41 -0066 to $239,800 from $244,000. Rollcall: Ayes: Faust Nayes: Hovland, Kelly, Maetzold, Smith Motion defeated. Page 1 Minutes/Edina Board of Review /April 20,1998 Motion by Member Maetzold, seconded by Member Faust to sustain the Assessor's Estimated Market Value or accept the staff recommendations as noted for the following properties. Assessors Owners Staff Name _ Address /PID Est. Mk Val Est. Mk Val Recomm. Gary Phillips 32- 028 -24 -24- 0361 $47,900 $43,500 Sustain 7350 York Av. S Peter & Georgine Johnson 07- 028 -24-42 -0042 $131,900 $124,500 4309 42nd St. W. Frank & Janet Lederle 18- 028 -24 -21- 037 $464,800 $420,000 4507 Browndale Ave. Kit & Sumonda Arom 30- 117 -21 -43 -0063 $1,981,800 $1,650,000 5200 Schaefer Rd. Harry Lindberry, represented 30- 117 -21 -23 -002 & others $930,000 0 by Robert Gisvold, Esq. 6901 Maloney Avenue Theodor H. Herman 06- 116 -21 -32 -0047 $155,300 $145,000 6720 Samuel Road Norman Company 28- 117 -21 -0038 $6,600,400 $5,885,300 Norman Bjorness, Jr. 5400 Vernon Av. Norman Company 30- 117 -21 -32 -0019 & 30- 117 -21 -33 -0064 $9,647,200 $8,682,500 Norman Bjorness, Jr. 5200 -5241 Lincoln Dr. James Platt, Jr. 08- 116 -21 -33 -0142 $249,700 $236,960 7723 Tanglewood Ct. Irving & Charlotte Nydell 07- 028 -24-13 -0040 $137,200 $132,000 John Carlson Prakash & Kamala Puram Donald H. Hansen Michael & Allison Pelach Jacquleine S. Mithun 4015 Lynn Av. S. 32- 117 -21 -12 -0047 5509 Merritt Circle 05- 116 -21 -41 -0066 6627 Limerick Drive 06- 116 -21 -32 -0071 6737 Apache Road 18- 028 -24 -14 -0056 4833 Townes Road 18- 028 -24-44 -0067 5308 Halifax Av. Page 2 $189,000 $179,000 $244,000 $229,000 $390,000 $375,000 $180,800 $170,000 $186,500 $177,000 Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain Sustain j Minutes/Edina Board of Review /April 20,1998 Page 3 City Clerk Assessors Owners Staff Name Address /PID Est. Mk Val Est. Mk Val Recomm Timothy & Kristi Healy 07- 028 -24-43 -0058 $227,000 $179,000 $216,000 4409 Morningside Road Robert Levine, Partner 08- 116 -21 -11 -0018 $918,200 $760,000 Sustain 5400 W. 70th St. Robert & Margaret Fink 31- 117- 21 -11- 0008 $445,00 $350,000 $390,000 6200 Parkwood Rd Marie Hidem & 07- 028 -24-44 -0050 $151,300 $137,000 $146,000 Michael Mankev 4007 Sunnyside Road Ann Marie & Britt Rogers 19- 028 - 24-114 -0063 $325,000 Sustain 5641 Woodcrest Dr. Donald M. gevre 31- 028 - 24-21 -0009 $195,300 Sustain 7016 West Shore Dr. Cheryl Eastbourne 28- 117 -21 -23 -0100 $186,000 $171,000 $172,600 5233 Hollywood Road Calvin Simmons 18- 028 -24 -24 -0009 $510,700 $500,000 Sustain 4619 Wooddale Ave Hilbert S. Weiner 31- 117 -21 -32 -0085 $95,300 $95,300 Sustain 6936 Langford Drive Sustain David & Lisa Baldridge 05- 116 -21 -31 -0043 $213,900 $213,900 Sustain 5824 West 68f Street Rollcall: Ayes: Faust, Hovland, Kelly, Maetzold, Smith Motion carried. Motion of Member Kelly and seconded by Member Maetzold for adjournment of the 1998 Board of Review. Motion carried unanimously. Adjournment at 6:15 P.M. Page 3 City Clerk