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HRA Agenda 08-21-1997AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Thursday, August 21,1997,6:30 pm Speelal Meeting MEMBERS: Chair Brad Barger, Vice Chair Steve Andrews. Darren Lahr, Bob Murray, and Dan Frie. COUNCIL LIASON: Roger Carlson. STAFF: Rick WolfsteBa, Jeff O'Neill, and 011ie Koropchal:. GUEST: Larry Schleif, Contact for the 3 Walnut Street Estate (1:30 p.m) 6:30 P.M. - Wallcing Tour of Front Street area. 7:00 PAL - HRA Meeting at City Hall 1. CALL TO ORDER. 2. CONSIDERATION TO APPROVE THE AUGUST6, 1997 HRA MIN VIES. 3. CONSIDERATION OF ADDING ITEMS TO THE AGENDA. 4. CONSIDERATION TO REVIEW THE PURCHASE OPTION OF AUGUST 6, 1997, FOR POSSIBLE AMENDMENT OF THE MOTION. (3 WALNUT STREET). 5. CONSIDERATION TO REVIEW THE APPROVED 1998 HRA BUDGET. 6. OTHER BUSINESS. 7. AWOURNMENT. C MINUTES MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Wednesday, August 6,1997 - 7:00 p.m. Cita' Hall MEMBERS PRESENT: Chair Brad Barger, Vice Chair Steve Andrews, Darrin Lahr, and Dan Fru. MEMBERS ABSENT: Bob Murray. COUNCIL LIAISON PRESENT: Roger Carlson. STAFF PRESENT: Rich Wolfttella and 011ie Koropchah. STAFF ABSENT: Jeff O'NeU GUEST'S: Michael Scbroeda, Hoisington Koegkr Group Rita Ulrich, MCP Director Barb and Bob Esse, MCP Board Member and member respectively. 1, Call to order - Chair Barger called the HRA meeting to order at 7:00 p.m. 2. Consideration to approve the JuIX 8. 1997 HRA minutes. Darrin Lahr made a motion to approve the July 8, 1997 HRA minutes. Steve Andrews seconded the motion and with no corrections or additions, the minutes were approved as written. 3. Consideration of adding items to the agenda No items were added to the agenda. 4. Consideration to adopt the Monticello Downtown and Riverfront Revitalisat'on Plan for submittal to �` Pl nnin�omtiLasion. Rita Ubich. MCP Director, informed HRA members of the MCP Board of Directors approval of the Revitalization Plan on July 30, 1997, subject to certain changes. Additionally, the Planning Commission has called for a public hearing date of September 2, 1997. HRA MINUTES AUGUST 6, 1997 Michael Schroeder, Hoisington Koegler Group, reviewed the submitted copy of the MCP Board of Directors' comments to be incorporated into the Plan. He noted most of the discussion at the board level centered around Sections 4 and 5 of the Design Guidelines. The two concerns: The guidelines overly restrictive for businesses in town and those coming into town. Secondly, the Advisory Team creates another level of legislation imposed on businesses. Schroeder explained the need for some level of guidance for developers and for future development of parcels controlled by the HRA. The Design Guidelines are to enhance the goals of the Phe said Schroeder. Developers coming into a city are looking to see what the commrmity wants. The guidelines have no statutory requirements under this plan, the city ordinances and codes apply. The guidelines are not fast rules but is a guide for development. It was noted that ECFE is still an option or potential user of space in the community center under consideration. Steve Andrews, HRA and MCP Board member, felt the plan or guidelines were inconsistent. Noting page 3 of the MCP comments: Only EDA funds must comply with the guidelines. Schroeder noted again the guidelines are to encourage and no ndes for enforcement exist currently. When the Revitalization Plan is adopted as part of the Comprehensive Plan by the Council. the city ordinances are amended accordingly. As some of the design guidelines might be codified. not all will be hard and fast Hiles. An example: Not define but encourage the use of a certain type of material. Helpful hints for developers: Not yes or no. but try this. Andrews questioned the full intent of the Plan -no one knows the intent of the Plan. Does Michael Schroeder come back as a resource'? Rita understands the Plan better than anvone and is an excellent resource responded Michael. Schroeder said he was also available as a resource and added developers recognize that no cin• has expertise in the area of redemlopment as this is nn+, to most. Barger commented that the HRA hired the firth of Hoisington for their expertise and experience in other revitalization projects. Dan Frie saw the plan as anti -regulatory: Business versus developer. Some HRA members were scared that the Plan is a guide now and may become the rule later. Schroeder stated some of the city ordinances need to be changed but need to allow for the creativity of developers, flexibility is important. Rita noted Monticello is a distinct town and the primary focus of the plan is the overall vision of the community and the secondary focus being a good place to do business. Noting the historical purpose of propenies, Schroeder noted and recognized Monticello has no historical architectural gems; however, there is a certain pattern of design and character to downtown Monticello. Those pattens of height, width, and design are unlike those of strip malls. It is those patterns and characters our hopes to preserve. HRA MINUTES AUGUST 6, 1997 Lahr felt it very important that the Planning Commission have these same discussions. Schroeder noted of the 30 -page Plymouth guidelines, their codes consist of four pages. HRA members recognized their need to pay attention to the guidelines and Schroeder noted the responsibility of the MCP in watching over the Revitalization Plan. Brad Barger made a motion to approval the Monticello Downtown and Riverfront Revitalization Plan as recommended by the MCP for submittal to the Planning Commission for consideration as an amendment to the Comprehensive Plan. Darrin Lahr seconded the motion. HRA minutes to be submitted to the Planning Commission. With no further discussion, the motion passed 3-1. Yeas: Barger, Lahr, and Frie. Nay: Andrews. Absent: Murray. Fill Administrator Wolfsteller informed HRA members that due to our population growth and increased housing, the effect of the imposed levy limit is not a bad as first anticipated. Maximizing the levy limits allows an additional $300,000. Debt requirement on the waster water treatment plant is $550,000 and is exempt or outside the levy limit. Estimates are a levy increase from $3.000,000 to 54,000,000 in 1998 and perhaps to $4.5 million in 1999. Historically, the City has levied for the operational budget of the HRA and it is doubtful the Council would do otherwise. The HRA operational budget amounts to approximately $15.000. Koropchak noted through previous agreements and commitments, the HRA has accounted for the loss of revenues to the city due to the HACA Penalty through year ending 1998. Lahr noted Jef O'Neill supports an HRA tax levy to do projects. Barger sees the role of the HRA as facilitator and not as landowner. Members estimated the a maximum HRA levy would increase a resident's tax bill by about 54. Lahr sees the HRA levy as it's ace - in -the -hole. Carlson felt an HRA levy may not be very receptive to some Council members. Noting projected revenues of $50,000 and a surplus of 5150,000 for the HRA General Fund and TIF Surplus Fund in 1998, Dan Frie made a motion requesting the City Council levy for the HRA operational costs as outlined, the HRA not exercise its right of a HRA levy, earmarked $75,000 toward an Industrial Development Reserve Fund requesting a match by the Council, and the remaining balance to pursue the four remaining urgent priorities of the City Council. Barger seconded the motion mid noted the need for the city to develop a market strategy for recruitment of businesses. Withrow further discussion, the motion passed unanimously. M'' " r'TES US 1997 HRA members received a copy of the July 10 HRA letter drafted to Mr. SchK the cover letter to the March HRA appraisal of the said property, and the response letter from Mr. Schleif with a purchase price of $92,500. As discussed previously. HRA members agreed the appraisal appeared high at $86,000. Andrews felt a response of thank you, not interested at this time, was appropriate. Lahr would hike input from Brad Johnson, Lotto Realty Services. Andrews asked do we need the propert!v at this time? Barger suggested two options: Purchase now, as is, for $55,000. Or a purchase option in the amount of $70,000, offer expires in 60 -days, $1,000 option money, option agreement expires in three years. Lahr again requested input from Jobmwn. The 1 IRA should consider the elimination of relocation costs with a ws'Dm' g sella. Another member remembered Johnson's advise to target the larger parcels fust. Brad Barger made a motion to offer an option to purchase the property located at 3 Walnut Street in the amount of $70,000. Option money of $1.000 and the option agreement to expire in three years. Offer to expire in 60 -days. The notion subject to additional input Brom Brad Johnson. Lotus Realty Services, relating to purchase option versus purchase offer and obligations of an HRA for relocation/replacement costs. ,nded by Steve Andrews and with no further discussion the motion passed wwnimously. With no costs to the HRA, Darrin Lahr made a motion to utilize the services of Bred Johnson for preparation of a preliminary design concept for redevelopment of the riverfront or north anchor arca. Brad Barger seconded the motion and with no discussion. the motion passed unanimously. The HRA remains interested in the concept of a Homestead Center project. however, they felt it premature to authorize the expenditure of $6,000 which allows Homestead to proceed with predeveloptnent plans and to access the funds from Cooperative Development Foundation. Brad Barger made a motion to table any action relating to expenditure of the $6,000 or entering into the Homestead Cooperative Sponsorship Agreement. Dan Frie seconded the motion and with no further discussion the motion passed unanimously. HRA MINUTES AUGUST 6, 1997 Consideration to authorize pgvment of months HRA bills. Brad Barger made a motion authorizing payment of the monthly HRA bills. Steve Andrews seconded the motion and with no discussion, the motion passed unanimously. Consideration of pByert updates or director's m= HRA members accepted the written project update and supporting data Responding to Council Member Bruce Tbielen's request for HRA input relating to the City's option to utilize the new tax abatement program for NGdwest Graphics, the following comments were made. Lahr and Andrews felt to receive public financial assistance, the hourly wage per job should be higher to encourage better standards and a return -of -the investment. Barger said you can't get %orkerr for $7.50 ph. Ian Frie informed HRA members that the cheapest home built in Monticello today is approximately $95,000. To purchase a $70,000 home, it takes an annual income or combined income of $28.000 which is about $13.50 ph. Generally, young couples have the most difficult time coming up with the down payment. In Albertville. a lot sells for about $22,000 and the home cost is about $110.000. Frie will provide the HRA with an imome/mortgage qualifying table. The HRA felt the comprehensive plan or council policies should address the wage level requirement for public assistance. 10. Other Ru 'nese- None. II. Ad'Gumment. The HRA meeting adjourned at 10:00 p.m. 011ie Koropchak, HRA Executive Director " 0 Office of the City Adminisnatar 250 East Broadway MEMO Monticello, MN 55362.9245 Phone: (612) 295.2711 Metro: (612) 333.5739 TO: Department Heads/Supervisors/S FROM: Rick Wolfsteller, City Administrato Lv DATE: August 13, 1997 RE: 1998 Budget Preparation By September 15, the City Council must adopt a preliminary 1998 budget and set the tax levy requirements for next year. Although the budget and tax levy are only considered preliminary figures, in reality, the tax levy adopted by the Council by September 15 has to be the maximum allowable, so we should attempt to prepare a tentative budget for each fund and department that will closely resemble the final proposed budget we want for next year. With the July 1 storm and resulting cleanup efforts, we've fallen further behind than normal in preparing a budget document. With the new Council on board and their general agreement to allow the Administrator to make purchases and expenditures in accordance with the budget without additional Council review of every item, it was understood that additional time would be put into workshops by the Council and staff prior to the adoption of a budget. unfortunately, we're quickly running out of time, and it will be necessary for staff to place a high priority on putting together your budget worksheet information for me. A month or so ago, l had initially planned to also prepare a basic 5.10 year capital improvement program that the Council could look at in conjunction with the 1998 budget proposal. For those of you who did submit to me your list of capital expenditures proposed over the next 5.10 years, I thank you, but it appears that it will be difficult enough to simply get our preliminary budget done on time rather than also trying to do a new capital improvement program for their review. As always, your capital expenditure proposals you want considered for next year's budget should be listed in your summaries; and I will put Memo Budget Worksheets August 13, 1997 Page 2 together all of your requests in an initial document to see where we stand in regard to our levy limits. Initial review of our levy limits indicates that we will be able to increase our general levy by over $300,000 and still be under the limit. In addition, debt requirements for the wastewater treatment plant bond would be in addition to this $300,000 allowance and will amount to over $550,000. The result is, if we went the maximum levy plus what we need for our debt, we would be increasing our tax levy by about one-third over last year. In order to allow some time for Council deliberation and possibly setting up additional workshop sessions, a preliminary document will need to be distributed to the City Council by the last week of August. Even at this late time, it only leaves about two weeks before an actual budget has to be adopted by the Council, and only one week if it's going to be adopted at its regular Council meeting September 8. Because we are behind schedule on a number of projects, including budget preparation, it's unlikely we're going to get a preliminary budget to the Council before the last week of August. Attached you will find the budget worksheets that pertain to your individual departments or funds. As in the past, there are some items that I will prepare, including depreciation, insurance costa, and salary and benefit allocations. It may be best if you simply leave the salary and benefit categories blank at this time, as I only need to know if you are requesting additional employees for your department or find. As far as temporary or seasonal personnel are concerned, you can estimate the salary cost for these positions on the worksheets as necessary; I will then add these to my full-time salary calculations. Also, if anyone has capital outlay type items you would like to see included in the 1998 budget but do not have a department budget worksheet to complete, simply make a fiat of the items (i.e., furniture, equipment, etc.) and return to me. As a final note, please return the budget sheets and/or list of items to me as soon as possible but no later than Wednesday, August 27, in order to allow sufficient time to complete the preliminary calculations. HRA AGENDA AUGUST 21, 1997 Consideration to review the puTMbm Dation of August 6 1997 for possible amendment ofthe motion (3 Walnut Street). On August 6, 1997, HRA members approved a motion to offer an option to purchase the property located at 3 Walnut Street in the amount of $70,(00. Option money of 31,0(X) and the option agreement to expire in three years. Offer to expire in 60 -days. The motion was subject to additional input from Brad Johnson. Lotus Realty Services, relating to purchase option versus purchase offer and obligations of an HRA for relocationheplacemem costs. In conversation with Brad Johnson, the following are HRA alternatives: A. Purchase Option: Good for retired individuals, option money extra income, option money annual or fixed, option money part of purchase price or as addition. Good for HRA. Not good for an estate, looking for cash. B. Purchase Offer: HRA purchase "as is" for demolition. HRA purchase with improvements (insurance dollars) to fix up for rental. C. Recommendation: City or HRA do not accept empty property as creates blight and attracts rodents. Should purchase to either demolish or fa up for rent. Negotiate with seller or seller's lawyer. Gain control of properties as become available on the market in targeted areas for redevelopment. OBLIGATIONS FOR RELOCATION AND REPLACEMENT' COSTS: A. Willing seller - the HRA must inform seller of right or entitlement to relocation and replacement costs. B. Condemnation (eminent domain). Displaced residential • Entitled to moving costs, replacement, and appraisal fm. HRA AGENDA AUGUST 21, 1997 MOVING COSTS OPTIONS: I . Actual reasonable moving costs - packing and unpacking, transportation up to 50 miles, moving insurance, and other related costs. 2. Fixed moving cost and dislocation allowance schedule - based on per room of furniture schedule. See attached. REPLACEMENT HOUSING PAYMENT: A comparable replacement dwelling must be decent, safe, and sanitary and should be functionally equivalent. Types of payments: a. Purchase Supplement - for owner occupants of 180 days or more. Eligible up to or can not exceed $22,500 in addition to the fair market value of property. Includes price differential, increased mortgage interest costs, and incidental expenses (closing costs). b. Rental Assistance - for owner occupants and tenants of 90 days or more. Eligible for either down payment or rental assistance payment up to 55,250. c. Down Payment Assistance - for owner occupants of 90 to 179 days and tenants of 90 days or more. Eligible for 55,250. d. Occupancy of 90 days or less may be eligible for last resort housing. Because the 3 Walnut Street property is vacant (assumed to be in an estate), the relocation and replacement costs are not applicable. 1 have enclosed a copy of the HRA appraisal of March, 1997. It is the intent for the HRA members to walk the Front Street area prior to the 7:00 p.m. meeting. As a public entity the HRA must be conscious of starting its meeting on time. In addition, Mr. Schicif has been invited at 7:30 p.m. and also requested a copy of the August 6, 1997 HRA minutes. Mr. Schleif is looking for a decision to purchase or not to purchase from the HRA. B. Altemative Actions: I . Submit the August 6 offer of an option to purchase in the amount of $711,(NN). Option money of S I AX) and the offer good for 60 days. Option to purchase agreement to expire in three years. 2. A motion to amend the August 6 motion and to offer an out -right purchase or an option to purchase in an amount negotiated between the HRA and Schleif. 3. A motion denying an out -right purchase or option to purchase. 4. A motion to table any action. HRA AGENDA AUGUST 21, 1997 :4 With the proposed redevelopment plan, it has been suggested that the HRA begin to gam control of parcels as they become available on the market. Most preferably to gain contn through an option to purchase. However, as this parcel is in an estate the option to purchase is not an attractive alternative to the seller. It is recommended to purchase for demolition. D Per room of furniture schedule, appraisal, and Mr. Schleif s offer to the HRA. Actual Reasonable Moving Costs You may be paid for your actual reasonable moving costs and related expenses when the move Is performed by a commercial mover or if you move yourself. Reimbursement will be limited to a 50•mfte distance in most cases. Related expenses may inchrde: • Packing and unpacking personal property • Disconnecting and reconnecting household appliances • Insurance while property is In transit • Mobile home park entrance fees The cost of any actual expense move must be considered reasonable. It Is MNDOT's responsibility to determine what Is reasonable and what Is not. Mn/DOT will participate In the cost of only one move unless another move Is determined necessary beforehand (as in the case of placing personal property into storage). Storage costs may be allowed If It Is necessary to store personal property while wafting for another home. Storage costs will not be allowed unless prior approval is given by MNDOT. Fixed Moving Cost Schedule Or you may choose to be paid on the basis of a fixed moving cost schedule. The amount of the payment Is based on the number of rooms of furniture In your dwe0lnp. If you choose INS option. receipts are not necessary. Under this option. you will not be eligible for relmbureemord of related expenses Dated above. The schedule Is strictured to Include such expenses. MOVING SCHEDULE Residential Moving Expense and Dislocation Allowance payment Schedule Rooms 1 2 9 4 5 e 7 8 Each additional room Amount $250 400 550 850 750 950 9501050 $100 Rooms 1 Each additional room Amount $225 $35 7 6 March 27, 1997 Ms. 011ie Koropchak Housing and Redevelopment Authority City of Monticello 250 E. Broadway, Monticello MN 55362 Re: Property Appraisal for City of Monticello Dear Me. Koropchak, In accordance with your request on 24 March 1997 I personally inspected the real property indicated below and prepared the attached Summary Appraisal Report. 3 Walnut Street Monticello MR. 55362 The purpose of the appraisal was to estimate the Market Value of the subject property in fee simple, with no regard for liens or encumbrances as of the date of the inspection. The value estimate ie determined by the Direct Sales Comparison method using 3 comparable sales of residential properties from the market area. The three comparables are adjusted to reflect amenities differences from which the final value is derived. In my opinion the Market Value of the property, as of 24 March 1997 is 896,000. It hes been a pleasure to assist you, if I can be of further service to you in the future, please let me know. Sincerely, CC (:fhLnC Farrell JOHN C. FARRELL r C.r~ Gaaaal Apps!.. UcoP� BOX P.O. aox 176, 6061 �oNe OAK RD. 01LONEe ROCKFORD. MM 66777 ot�P TELEPHONE 012)4"4M March 27, 1997 Ms. 011ie Koropchak Housing and Redevelopment Authority City of Monticello 250 E. Broadway, Monticello MN 55362 Re: Property Appraisal for City of Monticello Dear Me. Koropchak, In accordance with your request on 24 March 1997 I personally inspected the real property indicated below and prepared the attached Summary Appraisal Report. 3 Walnut Street Monticello MR. 55362 The purpose of the appraisal was to estimate the Market Value of the subject property in fee simple, with no regard for liens or encumbrances as of the date of the inspection. The value estimate ie determined by the Direct Sales Comparison method using 3 comparable sales of residential properties from the market area. The three comparables are adjusted to reflect amenities differences from which the final value is derived. In my opinion the Market Value of the property, as of 24 March 1997 is 896,000. It hes been a pleasure to assist you, if I can be of further service to you in the future, please let me know. Sincerely, CC (:fhLnC Farrell PROPERTY LOCATED AT: 2 wr.n B&M morale o. MM. um FOR: Ck7 d AAandedo 200 e. boalw". mmftlOo um um AS OF: 24 wrae 1097 BY: Jdw C F&mO C�. •—..r 300970310 Sr..r.r•.— UNIFORM RESIDENTIAL APPRAISAL REPORT rr, rr. SCN1.IW Walnut c_treel' cn. Nooticello em w- t.Ie 55362 o..r. r.. 4 c.... wtiot 1....e.•. r.<.Iw 755 010 4.060 r. r.. l9gfi aE.rr..06 moe�.�w..........rl1� -- e..... [.row Allen 6. Nolen Sehlief oner.a LJo.n. XI,...I Iv.w I1D Ir,....... nrwrv....l -N/A A% rr.r..wa a wrl.gl rlww wrll.r_..,. No MOD 4 c.._ rl.cr 1003 97 o..n.lwr�..r.l. pr re...rr....,eeT...... I. r..ra..r.«/A ce, In •eww. 250 E, Broedray. 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I ..... . rN.l'._.w...-r..—.. nr. .....r.—, a n..4.......a•. Shorn ern eo knmrn tm[lr; rent. dam:_.. The NSP noel... ewer Ree Simla Fee Simi. 0�.. — Ar 300970310 vr..ewl wew,A UNIFORM RESIDENTIAL APPRAISAL REPORT FAr N.. SCHL[PF FST41AttD SIT! V4UE ........................ • 1 20.000 C-, w Crr A- - ESTIMATED nEMODUCTMN COST. NEW OF a OVEA E"TS w.wr, rru. aA1 sraAra r, M HUD. vA r I•A.A, Ia se r1.91 55.25 -1 15.251 Data for Basement 540 w ...91 13, 20 1,121L the Coat AWroaeh from the llareh,11 2g—her ----4,.LZIL and Swift Handbook. The lend value in ow—xrrrl 624 14. o. H 11 11.232 derived from analvaie of recent sales Twr lr.rrrl C--.. . ............... ./ 107.739 of giggle fewi ty properties RemaininO In Wrlaht life Le ,r�•a y. D.�a1b1 43.096 •1 43.096 orooerty is eetimw of a,hij ted to be 20 veers. O.rrw+wrl VY r wrrww.....................1—iii.- H3 Iw••.� e.w. r5 •A.: vrr«wA.rr.w.w+........... ....... .1, 2 POD rlAr e 1 WIMCA)€DVIuu easy ArwoACY Rounded.. t jig F,nn Arrr crAA Rd 41RMCT CarAAAaa 40.1 Cd/MAW 00.2 WrfAAAIIA M.3 3 Walnut Street 112 W. River St 413 6 St W 313 River St W Am+r viand. monticaljp WaLLWIV Monticello w..r. aft. •i4 w1t 1/4 mile 96? w n. 61,11,111,11 1 71.000 1 A� 175 rc.,aan w. Aro 1 1000 1 11.08 01 1 7Q: R9 01 1 41J0 01_ m..w inspection KiltiListingService MultiListingSe2vice MultiLiatingService vwrerr. wre.. RrQkar Brok r_ 9mY^r vAUY ADAalAtf111 011CI ." p1C O. •MA.Irwr. DEmCPoI �•M A.1.w,r•1 D[1GVIIOe •M AAVrrwn wr r olwul, Convention) FRA Cro.w.• w.rke pates rkatla do Pln\eh FRA es Or.«A+rtk.. P/30(,1,6 1 10/1@)46 J marketRetea� II al OS 1 ewer Ree Simla Fee Simi. 0�.. — Ar 1.5 Ston ^-A PAnbler-a 1 w "try -A Story -A— A1r i4 vre ]1 vre I A00 a 0 c.11wwl .dY4'r'•e tNlvb _5 I +,OrVI _10.00000 AA... a..r. 11 Arw.l 1.r Iw••.� e.w. r5 rr Arr. Arrr rlAr e 1 Arrr crAA , I �, 1 I Ina ;) t3 2 _1,500 0--.— 1 .543 w r1. 96? w n. 11_6 1.7321411 -3,800 e...r+lrwr 540 SF 962 SF -2,100 1,)7 SF -1,500 1034 SP -2,500 b••r �r alw• tlorinln No Fietah do Pln\eh UD-fiainh r•wn.a u.r .Avn[eoe Aver— Fjyg(pQQ SimL111e I Nu1rylC.rrr lr•II.Iwr„r•r (WWA/tions GFWA/None j 1w I i GFfWNone I arAlNcw..1 Aver 011 ; -Averr.rw tByQ(pDe 1EU I ,AypTpQaT 5_n00 Nom. 5.000 r,sl•..r.. wr.. 2-EnclPo[ch None 3,000 tone I 3,000 Nona 3,000 r..rl.r.w, r.. Rnne Noneiye. fir,,. None None I Nnne I NQTM w.Ar nrrl Lxt•I 1-I1 0.400 I%I•I 1-I1 11, - 1 _ A*— ws. ere. G144.]6\ G725.60\ C: 40.1]\ .l c-- cwr... w wr. cwr.+w• ww rA..1.rr M11QAr 1 r.rwn. r.r..Arr 1,6.400 N:22.02\ 1 r me •rrr.r.r..r 1 The 102.500 N:_7. ]]\_1 elinl ec_ orooerty here 69.500 ITEM AUARc' C011VAIIArl w0.1 00101AaAM.M.a Ca1rAAArA a0.2 o.. ...wow N/A None known None known None 1r11O1111 ww..r wr rr www w w ..•.+��++r .r ..w . u•.e r r.r.n r..w r www r w.� r r rw w a..r ..�,• w .� r r r r �r vow ST OAUI COIrACM A/AAOACM ........... .... .. .................... ..........1 86,133 .r�CN r A..rrrr Twrr.. wr 1.•• 1 err . a•.r A.w rwr.. �A . ri N/d w .' •Ma�Irw.w...r,a...r.sw.r.wwr. rr wr.�Jwrawralwrw r.rerr ,awrw The ep1,releel dorm I1ot coanlder limn or ancumhrA^Ann to the title �h in annumed to bn free and clear_ Iti •.rr,r « 111. Aral a r..OrO W raw rAr « 4 wr A••w M w r rAw.1 «A.. www, b... w M rw rwMw r er rrl�rr, ,rrw r rrw awn. r wr .r Mes• ww w .Irr. r.rrrl rrAr. IIr rrr.MA..r Nw .w 1pM1 waw 1 nr 111rrAn rIr YIrIT Vuu1. a olrwe, a rIr rM woven. rwr r NA wyclp_rr 1pwr. Al or 24 Mere Certified Real Property oAppr eTlWDsrrwnror 1_AIIaall!' 1w1Mr11 �� waEw�roAr uw2rn a1Er a rourtm M,•.... now pD1 Ar 1 r.•. 4n w.lrrr 4 want" 1907 er.1►... EI.r1 mrii�i. t.nl+.lnll l [►.�h1�E __Qp�_w��F�.il�erw�rn r m�In. .9:1 lewln�T,IT '0002 r. •rr R[r euswal e014aM"ro. ...5 1 c01MMW■o• N/A Ot Letup rr r w .rw r w.rw. rya r w r... �..... r.r w. • •... r r.rr..r. w •+.r r w...w r rw .r a•.r r w .� r r r r rrrr 300970310 UNFORM RESIDENTIAL APPRAISAL REPORT gift PC.%= UM I eus l CorMxa! ro ♦ r Al MS Me. a O(110MUR� p. 4 3 Walnut Street 021 River St W ..rr. u rrn l • erwet. I is 04,000 IT Is .brorw u •�•• 1 Ono 1 6{ _ S6 01 IDI s 01 or. rrs Inspection NtltilistingService v..a,r.•we.. ApC*lF Y.11e •p1{rf.pfl� RWIIIIOM ROCIIIVIOM •�y .+r♦. gpy►.gM •M ��r�rr RePYItDM •M.r1w��1 1r•.rM=I� listing Care..er p11 V Or• M K/f.•• UW 27 •wr`•` I ��t>A . xyerea.. T•�`+�••Z • Tea SIMI, -fee SLmI. I d• j)161 SP 10090 .� vrw o..a.n •.e•r ry-A b• Il Mew a— Ir.bl _ YA• Id ata e!r Ta IWr e/• TMI Yw O r4. C— -/,000 I I I o.... u n •,«N. s.. Sfi s4 . 1.72 a e. •a 1] e....• • n.rw SIO SP 120 SP -90D r•ew. ere. a.r .1.h .w.wVc«.r ..a.tn..r r. Veraae AYU4pt ��•••^ j Qeteched .2 AttechM I I ftwa u•, m. 2-enclPorch None I 3,000 1 T•..•..r•. a. Nova ". s.ia.. erre. Noce t Ntm. I � I r•r. •4 era • - -2.60 I I • I 1 - I I I • I I - . e•. I Gt 12.7'! 2 C — w carry xt car.. rr oaw. r•+r r..•�e• rw.m'. wwr,. r r.eiri.r. m,i R[r euswal e014aM"ro. ...5 1 c01MMW■o• N/A Ot Letup rr r w .rw r w.rw. rya r w r... �..... r.r w. • •... r r.rr..r. w •+.r r w...w r rw .r a•.r r w .� r r r r rrrr 6__X _ Adm 3 WMbM Strut un momksco Ca WdoM 6'w. MM. rotes. 66362 i.se.,�Chit of %Wntkeeo CONDUU S OR TRR REIOBBORE00D The neighborhood is in the original plat of Monticello which is completelysingle family residential. A public park is located across the :treat. Monticello is a stable community offering all of the usual consumer shopping opportunities plus professional and service oriented offices. Schools in the area are considered average with a full range of sports and other extra curricular activities. Growth in the community and in the outlying Townshipe is steady with the new subdivisions reporting good activity. Overall the area tends to keep pace with other communities in the area with new home construction, business development and employment. Interstate I-94 is located along the southern edge of the city with two exits available. The NSP nuclear plant is located about { miles to the northwest of the subject property. COiO®TS OF TBE SITE This site Is a level parcel of land utilizing all of the corner lot and 33' of the next inside lot. There is good curb appeal and access from Walnut Street onto a gravel driveway. The site is served by public sewer or water services. There are no apparent easements or encroachments to affect the value of the site. The site is right at the edge of the flood plain according to the latest FEMA map. COMMIMS oR TBR I ., The residence is average Quality construction with a gravel driveway out to the street. The exterior maeor.ite is in poor condition. The room sizes are average, floor Ilan to typical for the design. The upper level rooms include a good size bedroom and a smeller room without a closet which is insufficient in size to be categorized as a bedroom and is more of a den. Quality is ave reye [or homes in this neighborhood, volae tango and size. Condition le averaga minus. The partial basement level is unfinished. There is dry rot in the sill plate observed along the south well. No value to the appliances because of age. COMMERTS ON TBR BALER COMARIBDR Two of the comparable melee are in the same neighborhood one block south and one is in a competing neighborhood. Adjustments to the compo include $5000 for the larger cite in Comp 1, 51 of sale price for river view difference In all 3 compo, $20 PSF for above grade finish, $5 PSF for basement area differences. The condition adjustments addressee the dry rot in the basement and the exterior aiding. The balance of the adjustments are from historical sales data from the area. The comparable 4 is a listing of a 2 story with a view of the river. The adjusted sales are averaged to arrive at an estimate of value for the subject property. ADDITIORAL CO O TB The real estate market is in a balanced condition with no extraordinary or creative financing needed. The pro art is owner occupied, therefore the Income Approach to Value is not used in this report. My compensation is not contingent on the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a euboaquent event. SINGLE FAMILY 1.5 STORY e I mA..rowu eI goprly r■■r a 3 Melnut Street � I Ob oarq lls Monticello Nrlaht MN. City of Monticello L „. 22S A r C F7 my I ■ENOCO r U —U olaFrr 0 ar n 9JC� i R v 014m � �POl1p1 iip�1 Pp1Ky1:::P, !!EEa .r M V 0 R AREA CALCULATKNS SUMMARY A kM Nom dAra She Toch I F■■ w achlief moo.* 5536] 9r ■•IYrr•1100%v LIVING AREA CALCULATIONS R W1 nM qr 17+4,w 1"4.10 h.50 ■ 41.00 @7.10 Anot Umi■ Ilr in OD m.00 p.m ■ 40.00 No.m W Wlaw■ ■ore 1m.00 ..00 a 5, .00 -aaa.m C, W.W P—h 7 1q.0D 117.0) •MaD ■ 74.0D 4=.m A •N.m ■ n.m Jo4.m L 1,0D■ 16.00 nt.m C N.10 ■ 16.00 00.00 u L A T N � e TOTAL UVAM (mudded) 1543 1 SU SUBJECT PHOTOGRAPH ADDENDUM c—, Aea.«. 3 Walnut St—I C.. Monticall. c— Wntlht 5'.i. MN. L—C—y Chr Of Montke0o m — 85382 FRONT OF SUBJECT PROPERTY REAR OF SUBJECT PROPERTY STREET SCCNE COMPARABLE SALES PHOTO ADDENDUM ems..,... a."r •ea... 2 WaLwi Strom c— Monticello can Wriam sup. MN. 2cC 68302 —Cl—, Ch• of MonikNlO ^��'}ctp; st.. .r COMPARABLE SALE O1 612 W. fifv.r $1 4lomice0o SW Data: 8120f% SW Aka: 178.000 COMPARAEIEE SALE e2 4136 St W L mmollo SW Dane: 10/28/90 SW Ake: 184.000 COMPARA&E SALE 83 313 Rfver It W Momicauc SW One 1180196 SW Plica. 179.000 ADDITIONAL PHOTOGRAPH ADDENDUM a... c6— ar Nen.fe.ne Cann wd.. I— Illy mCa R530L w�r....Rr..u..r�r...e�r•.r. u w•rRo nn CURRENT OFiERWO OF A t STORY REMODELED OLD HOME PLAT MAV a wrma Sww ae. Yonfleano c— WAaM V— MN. n.c. OSU2 L.W..� Cihr of Monfkpo SEC. I 1 , T. 121, R. SCALE f' i INCH a 200 FEET MISSISSlppI hY//7liI LOCATnON M� mow„, VIA 100970710 sr N.. SCHLrEF DEFINITION OF MARKET VALUE: TM most p- ars whch a papa" .rode waw lo • cormsaora and opo maket ~ W CaM,ttwu mqt vW to . far ask the bU"ar err asset. ant anry 0mderw". Itfw-1 1 Wes ars—twq the ptu ie rot ermcted t" trlaue akntka, WOW in a.a dtirwba, is ted tzmummittwn CO a sere as of a soeciftee dam tow On Oessn7 at rah "ton Wee to ba"w under cW01tw s wtwreby: 0l bum aro War are "urea" moorat d; 121 both palm are well inonted or wee adwsed. ate each .cwtp in what M camars Its own eat ntaat; 121 . rnsaftawe than u aaowad fro erpata n that open mamst; NI prynant is made in 1ltn. W Case n U.S. doom m n terns of f—,tO srrertpanwtU woperale "meta; aro ISI the oloe mpresens the normo —watwn Ip fed prop." sola uwfl.Ct.e W WeaW a soon fb%.rcbtd or safe COrwestbra' Wanted bV aWarw as xWee rnN the lift. •Adlutrton" to Vas con paawsa went w mace la apeaer or crested Irtta,Cnp a testa conceadrr. No atdi armann are necessary la hose costs whd, are nwnwa" pad by Wove as . mere of aaditn w Lett, n a trawlso arms: owes toga w. hada" femtiluaa arca the Wer a.a own ousm n mows. M safes t.rtactgm. Spates ar aas r fhumft .dpatowtas can be toads to ted CWMWMM prapar" o" ponpariam to Ikwcktd farm odead at, a and pert" huatubarrl Wtdar ort is rot mseady kwar.d n the props" or taaacttan. Any etegaottan dtostj to, W .plated an a naclW.tal dollar tW *oder Cost of tw fw&,clrp w CWCUbta Ifo,alae stogUa of ant' adjtCDnwd OmW appia.Ynata lir mako's reaction m the IMtcnp or cortceahwr bned m the apprauar's No9a^a•. STATEMENT OF UMITINO CONDITIONS AND APPRAISER'S CERTWICATION COTFTTNOENT AND WpTM CONDITIONS: TM apppsw'e cerWwenn tm appears N tw apprW .pat r .OFct to des 1.11" p cwa& w 1. TM apps.. wall rot to reoofu I to mans of a MW MNe owl stha saw ew straps," Wry spouted a tat tNs to d. The epaerae !stall,,!+ that ate lade is good std mrkeuMe ww, dwelws, ww fm rawW erne ateeo,r anew the tae. The properly is a s"d m ter basis of it b W* waver raporelbhe owMratop. 2. The appmW, ha trcrtded a sks" n the a0paaal moat to paha epp#ms.trm drnauwm of ter npfwentam and ted Ouch a rwhEed ora" to heat oar nada of Ne town in vi4nW% to pupa" aro undasts drq we aoowsa's dnarrwruum o1 ds sus. 2. The apppte hate namfrod aro araaeN flood nabs Nat are oorwn bV On FWwal Fjnwpwcy Matmoahnad AgwrCV la mw dam sopCael and M rated in the eppaaal bpm WhWW the MkWt mei. WAW n o sMbfwd SWaal Flood KIWO Agee. Beeawa aro appalter is Mt a amrwa. he w she, noes M pWmMea, e.pgssed w amaW. rapad+tp on dete,r,kotaprt, 4. Tha awsiar Will not W" tatwttwt" a appear n Cwt bPMM to w eft Made at aprar of ter preps" lo wrattm, metas aWatw anan9arwne ro aro ep ah.re wart made Motaw,d. S. Ttw apprWer his amnomd tlo nkat of the taro n that cost aoauN at m tbWml aro loft we ala ter impowWMMa at aro, cwwbuta" raMn. These WWrate rahmMm Of the lag and krptwemnm "tet gat W wed n cw*mtwi run alp otM, apelal and are kwam d oast are a used. G. Ttw @W ow his noted at tM appafW repot anal ed, a Mrwfbom troch as. needed fepas, dIVOCtatto. the pnsaroe a hatardwn rams, taw aw.mron, em.l all"wved dttMp ted kepeCtwn a the ntop" pope"" w ted M a W uacar,w aware a aw,9 do formal reeeaU ..,Nell ti mstamkap ted apraaa. UrMa oderwrte stand h,t ted appuW root. the apwse, Pass, M kroweados of ter" hod, a wasopratt awimtom W the rapt" w advra emlrpnier" Conatlarw tlnekx% tV "M paam:e a haedpgs water, meo Substances, eM.l ted woJd mW tw Woppt" mom w Ila rskmbb, aro Its saaard that these w M W h Canattorr aro maim, fro prpane a wanafwm, ape,te0 a 1napYed, nW6.0 ted Corolbon a tat property. the pottiest war rot be wepawde to un wCh corwdwm that do al"t w to WV W rtrawap w latktp owl mpM W weu.e0 W dis—ir wMdw matt, Ntdlupru ...at. Bauoe fed sapre,ser is awl erg nptM at ted field at witawwfwlml hwerde, fed ap.W mwo mut that W comla.red a w wwwwmweM sauum n of ted prOpwts. 7. TM appaaar otttawd the wd&MWL floats, aro comm, aro wee MWMW n tat BWWi moon tMM Wtrcn that M a ata Comdata m W moa ala berwras then m W true ala C 1. The UWatew don not swame reepomde" for all aCctWWV W aRh ham ted raw. tWnWW W dew pale". 9. TM apnea wd MI d=1026 ted opmems of law aWwsW too acro as W"ded la n do thefam SunWas of proleastow Awakw Fmctice. 9. Tit appahar has baud to a fro $We" tepart aha rliks"M Cofwhnwrt to aft IMMO Oath o k0Fct to Wttstaclar" tontahmon, rnwb. a olwabOm w ted e"smnptwt OW Cumpfepart of IM wnpronmees we be panurrwd r, a woanrWte mares. 10, The appwv mut portle he a ho pro "Moen Camas Woe the W WtkMw RpKdod n Oo a alto #Sport Can 611wh" fed awbad n0a Orckeap furtcknww abed law Wooer" Waste, ted swide'a ,Wats ad prOm"aw,W d.a0rwtwn. and nlerwKa to wast profesawW &Me" orae ratwm a ter tam wn0t hCh ON opesW a aswwowtl to W"Olr off& than tw borrow W: ted fhm0epa a m w @Ssm rod astyna: des tt&loap Www: cwWm:rvmt prolal,prl a s" w9anhatww: a" slam a 1awN" apned fwdncW ii,am Me: a ams d"p aged, !Salo". a nNwnedakl" of on Ualted ilea a a" stab a ow ctav l of Coko"t a; #Cat fed IM Wase"" W," dntWA" fed WepW" dmootwn new at des raw# Was to date COMcf&t w MPWWV SWWAW .share #wry to obnn the alpraaer'e pw w dim Corsartl. The stpada's wrdtart Comma row aoaal tout she W Ona,,W belwe the @W&W tat be CorW, by er" M to ted ptLha "wough ad.wtmWW prtlw w esus,.. lows. Wes, as ods, tattoo. FnOdw Mae pram 439 9,92 Pop 1 at 2 Fwase MN Few local 9-97 ter r w wrtw� w tr.rrtaw w.aw� r.were 700970710 R Iw. SCIO,IEP APPRAISER'S CERTW=TtON: The Amstser banes sed epees that: 1. I have resemoMd the nrblect rowan Mea and have tasseled a nwwnvrn at noes reaps sales of popMtwe matt —A. ono ow—te to the srepct pap" to Con voMb n n the Saes COTpMfM aray W will Calve made a lease, adaetmaa when appropute to ref W1 the market reposes to than alms of siolNKam varuten. If a tpnl4am. Item in • canowabss pioo.tM is Wpe,er to. a mare I—ble pen, the srlWM papertl. 1 hies made. nn l adamanae of reduce the sdhuted pies pnca of the Canpwable ars. a a Knilr dem in a tarrglae amp" is ode— to. or sess favaae than the Resect propsny. I nese made a dilutive sdpetrie d to uKrsese the adapted Islas pace of aha comparabss. 2. 1 have team into Capdarahon the (alta. that have all +^Pott on rake in ny devsblaram of ifs estelane of mwkn vakm In the aWMW report. 1 love not knowngly wdlaleld Mw sgnfkam taamaon non the aww" tapas and 1 beWe. to dill best of my knmyssdpe, trot as stetmhaits and edormnion in the appwtal repos are true will cared. 3. 1 mtW, in the amaual recon. one, my own mablud, aeesW. ane praessanal analyem. Wines and Cors]tmfata, whoh ant hbleot only to Ise corot gwa and instills cadltae apeodlW in Ws lam. a. I nave m seam, at prospacbve kaMsn in the properly that is the tlOjact of this repot. and I love no patient or pesos a msmN Intwest Of bin with resect to the tpnkV&Ms in the IrarpaChen. I did rat Wes. ental Wall or Cartel etely. my amham ad/u, the entnata of manna Vale in fin apprwsat repot On the We. Cola. mimpon, M. Wow". laminal statim, a mWW ages at wthm ft pospxtnt owners a oKWems of the sutsect Pnppwry a Of the peasant owner or mupents of the propw ids M the v %Iy of the suspect popery. S. 1 have no Present a conenglalW Idtla imwm n the pulled papery. and raathw my i—ent a haunt 0 %ft,rrwm ran my coapausUM la pepamrno this smatW is conorwra on the appahed rake of the maperry. S. I was not reputed to roon a Polls te,mked value or duction in rake that Messrs IN cauea of the ckae a am related peri, the amour! of the vakp esunate. the Mtatsrad of s speafic rein, Of the aavrmaa of • MOnaem eve, in oda to nvotwe my angenYtcn a dlor empoyrnent fa Polamtg the epaaiW. 1 did not base de apa1W ,eoa1 drh a retpeved naninnu n vshallm, a specilK vakmtion. a the need to sppnoes a spmfK mcrtpaoe ION. 7. 1 Won,*3 this &WWW n COAarhly wnth the lHdom Standards of Professional Aoaewl Practca OW ware samod and pralropi d! by the Apaenial SlerdMdt Board of The Apw*4W Foundation wd that want in [Lace as of IM eltaclne data of tin spyrMW, with the e.cepoon of the destinies P—Matin of not. Stardwdt, whiC h does ala I.py. I Kknw** pe that an ntinate of a nessmabe tune la elpoWe n the does, manias is a Conaoon In this definition of nahet value and the suunate 1 davwnped it —lent with the mwkethg tme noted in the neighborhood poen a this report. Lonlea11 have othainnn stated in the ,ecbx"uon Mten. S. I have pwaoWly inspected the tawia Md ..HOW sten of the MOlect popery aro the Mena, of W WOPW n Well as canpwabplt n the VV*" spat. 1 lathe, c Ify that 1 have noted any appwwa m known advstes conations in the YMWt ImpovarMile, en the M' I ate, a on ane site allies Ila anllediata —ty n the eahw.l poe,ty of which I wn mWe and hwe mWa adaslnantt la then advern Conditions in nn ansh m of de Plow" rinse to the eaiem that 1 had ne,km evdwKe to support them. 1 have neo Corm Weed about the .11=1 of the w awn Clnatio s on the mInstability .1 1e, M wl popeny. S. 1 Weaned, p.WW dip Cok.— and do— a0ow thenW astute pet wins est faith n the spasm repel. It 1 14W W tgnlKam Walessonel aaWahte ham any WWw" a adnduala n the pwNmhrKe of the approval a the enpwahprh o1 the aW.W report. I have nrmW M Ch ind ndull.l Mal disclosed the a .fic fate oMlalnad by thorn n IheretancMatan mim at aes ease" repot. 1 coma this any ndntolrl n n m a is aiiabfed m Ywfonn the in" 1 rove rot suthotuad WInli a to make a Charge to am item in the recon; Ihentlas. it an uleWvued Charge is mean to ft a"mal reparl, I Win take no stpamibikty Ie, d. 71hlo appraisal report had bean prepared for the City of Monticello. The Appraiser assumes no obligation, liability or accountability to any third party. If this report is placed In the holmdo of any third party by the City of Monticello, the city shell make ouchthird party aware of all the aoouaptiono and limiting conditions of t h I a assignment. The conclusion of value should not be relied on by anyone but the City of Monticello. SUPERVISORY APPRAISER'S CERTIFICATION: n a ap.niesfy span phoned the emmW roof. he a the Candia, and apese drat: 1 deactli tupe,wse the spprweat who aaawed ale ewe" lanais. Iwo tavewW the eppamal ,soot, apes with the attainments and c lvaadna of the BWO M, area a be bound try the apParen's cMdKnbne rsslu.r d a though 7 bova. and em tM.% fun l/lpayWkty I. M app -0 and the opaaal tenon. ADDRESS OF PROPERTY APPRAISED: ] wdlmtt Rtreet. menticello. Mit Ssw APPRAISER: SUPERVISORY APPRAISER IPey d,equomm: A / &punas - 6X !/ Bipnttua: Name:Jbhd C! Farre I� ((( afarhe Oef. S4W 25 March 1997 ON. So w0: state Cwt.1"tan e: State Cend"l— a Sem LKerse.: .000 to as sun Meana a: Stale Mei sue: Eeytatan Oslo Of Cwtd%;eIW a Ltia" ]I Aug e] Exavalm Om of Carncafae a LKerse: ® Od ❑ oil Not as m Aoowts Ndch. ala Forth e]S 6.97 rhwr.w,.rrwwr Pros T of 7 Fame ales Fpm 1001E s•SJ w..t en+e<.ww1 e�M1r11 Larry Schleif 122 Kampa Circle Monticello, Mn 55362 August 4, 1997 Housing dt Redevelopment Authority Monticello City Hall 250 East Broadway Monticello, Mn 55362 HRA members: In response to your letter in which you inquired about the pwchase of the property at 3 Walnut in the city of Monticello. I have set a purchase price of $92,500. '[tris price was established based on a professional appraisal as well as a Market evaluation in which I reviewed similar properties that are presently for sale as well as those that have been sold within the last six months. I feel that this property is very saleable. Over the past six months three people have inquired about purchasing the property and two people have expressed interest in renting it. Since this property is within the boundaries established by the HRA, potential buyers may be hesitant to make the purchase knowing that there are certain restrictions that the HRA has imposed. Long tenn rental agreements would also be difficult. since I would have to inform them of the: HRA's interests. Because this property is located directly adjacent to the west bridge park, It would be a natural fit into the plans that the HRA has. 1 believe that it would be in the best interest of all parties involved if the HRA were to purchase this property at this time. 1 must inform you that the property is currently in probate and I would not be able to close on any sale until the end of September. A quick response following the August 6 meeting would be appreciated as them are some improvements 1 would like to make to the property if I we were going to either sell or rent it. S'Lemly Laity Schleif HRA AGENDA AUGUST 21. 1997 Attached is a copy of the 1998 HRA budget as approved on August 6. 'lice total HRA General Fund and TIF Surplus Fund or cash available to pursue the four remaining Council priorities assuming 1998 revenues is $290,0(X1. Secondly, attached as a guide is information for lard control considerations. Because the Schleif property is vacant and in an estate; relocation or replacement costs are not applicable per Attorney Bubul. Rusty Fifield, Ehlers & Associates, Inc., Michael Schroeder, Hoisington Koegler Group, Inc., and Dan Wilson. Wilson Development Services, and city staff met with General LaBlauc of the National Guard. Results of the meeting: Council endorsement for a community anter. Preliminary concept commitment and time frame by raid -September. She location. Dan Wilson's expertise lies in relocation and replacement costs including appraisals for redevelopment. He currently is world ng with the City on the realignment of Chelsea Road and Highway 25 project. Additionally, he has been involved in meetings between Bruce Opp, Burlington Northern. and city staff for the potential acquisition of the BN ROW between Highway 25 and Maple Street. The BN ROW, one of three sites identified by the Community Center Task Force for consideration. Other two sues are 13 acres to the east of FSI and 12 acres to the west of the West 7 Street dead end. In addition to state and National Guard dollars, one idea for financing a proposed National Guard/Community Center is by the conventional manner (borrow the money) with the HRA financing 211°/u of the costs through TI Bonds (future Rmds). Rusty supports the HRA in acquiring parcels for the revitalization of downtown and redevelopment of the riverfrom as parcels become available. This an attraction for developers and an investment in advancement. Additionally, Rusty sees an HRA levy having less public resistance in 1999 as it may become more difficult in the future with anticipated increases to the City and School levy and the potential of a decrease in the personal property values of the utility. To get on board in 1998 may be useful and allows the HRA the option to reduce the levy in the future. In my last conversation with Brad Johnson, he mentioned he had an interested developer for upscale rental units. Discussions continue with two independent developers for redevelopment of the south anchor. APPROVED 1998 BRA BUDGET BALANCE $185,000 $10,500 $ 75,000 Projected revenue $ 50,000 $ 75.000 Projected surplus $150,000 TOTAL $235,000 $160,500 $150,000 EXPENDITURES Expenditures Hoisington $ 30,000 1998 Industrial Reserve (Match) $ 75,000• TOTAL $ - $105,500 BALANCE $235.000 $55,000 $150,000 • $75,000 Industrial Development Reserve Fund with request for City Council match. The bah me to pursue the remaining four urgent priorities of the City Council. City continue to levy for HRA Operational Expenditures. No HRA levy for 1998 ($65,000 estimated). C CONSIDERATION OF LAND CONTROLS pro OfferLfton Ogg= Relocation Mond EMV 59Mtal AMMLifid Assessments & Tax Schleif • $ 70,000OP $1,000 None $ 59,800 $ 142,34 $ 86,000 3 Wahmt Stmt $ 182.94RB 155-010-054060 $ 696.22TX O'Connor $ 68,700 $ 42.00 $ 89,300 218 Front Street $ 0 RB 155-010-054070 $ 799.82TX Abrahamson None $ 83,200 $ 209.10 1 Linn Street $ 304.33RB 155-010-056061 $1,094.78TX 155-010-056062 •Schleifa Price - $92,500. ( 'stimated demolition costs per property $7,500. BN ROW Estimated cost to purchase lard 6rom Burlington Northern $130,000 phu relocationhepkcemmt/dmwfitiontckanup costs.