HomeMy WebLinkAboutApril 8, 2026 City Council Regular Meeting Agenda PacketCITY OF FALCON HEIGHTS
Regular Meeting of the City Council
City Hall
2077 West Larpenteur Avenue
AGENDA
April S, 2026 at7:00 P.M.
A. cALL ro oRDER 7 m [| 'n'
B. ROLL CALL: GUSTAFSON V*O"
MIELKE /*a,,,*BERG ,/
LINEHANY $y\ra ^ '/
\,.)abse-\ba3 5- 5
/*o"t*
STAFF PRESENT
G.
C. APPROVAL OF AGENDA
D. PRESENTATION
E. APPROVAL OF MINUTES:€-o1. March 25,2026 City Council Regular Meeting Minutes N),^
F, PUBLIC HEARINGS:
CONSENT AGENDA:
1. General Disbursements through 4/3/26: $215,965.77 Cs*s\a) ss"r
Payroll through 3 / 26 / 26: fi23,7 43.71,
Wire Payments through 3/4/26' $'1.6,212.28 'l lSl42. Approval of Resolution 26-25 Authorizing Application for the Livable Communities
Development Project Grant Program for Fairway Commons
3. Approval of Resolution26-26 Authorizing Application for the Livable Communities
Small Area Planning Project Grant Program for the Les Bolstad Golf Course
Redevelopment Master Plan
4. Approval of Comcast Agreement for Wi-Fi Installation at Community Park
5. Approval of Resolution 26-27 Declaring the Public Works 2010 Elgin Crosswind
Street Sweeper as Surplus to Sell to Purple Wave Auction
6. Approval of Resolution26-28 Accepting the Resignation of Joe Morseth from the
Parks and Recreation Commission and Declaring a Vacancy
7. Approval of Resolution 26-29 Appoirti.g Caitlin Klaeui to the Community
Engagement Commission
s-o
POLICY ITEMS:
1,. Consideration of Fainwav Commons Planned Unit Development AmendmentProposal \NI'F"^^\Y) 4i -02. Approval of Resolution26-30 AuthoriXng the Execution of a Real Estate Purcfgse
Agreement for1"407 Larpenteur Avenue and 0 Larpenteur Avenue West @ ,q}l t:
b''/ 0
1
H
I: INFORMATION / ANNOUNCEMENTS:
J: COMMUNITY FORUM:
Please limit comments to 3 minutes per person. ltems brouglrt before the Council will be referred for
consideration. Council may ask questions for clarifcation, but no council action or discussion will be
held on these items.
K: ADJ.'RNMENT: 11,'t(lt,v 5-a 7:, 1 /, - ,
2
BLANK PAGE
3
A.
B.
CITY OF FALCON HEIGHTS
Regular Meeting of the City Council
City Hall
2077 West Larpenteur Avenue
MINUTES
March 25, 2026 at 7:00 P.M.
CALL TO ORDER:7:04PM
ROLL CALL: GUSTAFSON X MAY X MOGEN X
MIELKE X WASSENBERG X
STAFF PRESENT: LINEHAN X
APPROVAL OF AGENDA
Gustafson notes the agenda was amended to add the authorization of a change order for
the Community Park Improvement Project.
Councilmember Mielke motions to approve the agenda as amended;
Approved 5-0
PRESENTATION
APPROVAL OF MINUTES:
1,. March 4,2026 City Council Special Workshop Meeting Minutes
2. March 1'J".,2026 City Council Workshop Minutes
3. March 11,2026 City CouncilRegular Meeting Minutes
Councilmember Wassenberg motions to approve the meeting minutes;
Approved 5-0
F. PUBLIC HEARINGS:
CONSENT AGENDA:
1,. General Disbursements tfuough 3/20/26: $99,852.13
Payroll through 3 / 12/ 26: $21,,496.27
Wire Payments through 3 / 20 / 26: $15,240.49
2. Approval of City Licenses
Mayor Gustafson modons to approve the consent agenda;
Approved 5-0
H: POLICY ITEMS:
'L. Consideration of a Contract with the City of Lauderdale to Provide Street Sweeping
Services Through 2028
C
D
E.
G.
4
Linehan explains that Falcon Heights has discussed with Lauderdale about
potentially providing street sweeping services. The City of Falcon Heights has
provided snowplowing in Lauderdale since2022. Falcon Heights purchased a
refurbished street sweeper, and bringing on a partrer would further help finance
this. This would be a multi-year agreement until 2028. The annual cost for
Lauderdale would be $20,000 with an annual increase of 3%.If approved, the service
would start this spring.
Mogen notes there is no potential escalator for potential cost increases for Falcon
Heights that might occur if fuel costs or dumping costs increase. He would ask staff
to track mileage and costs spent on providing this service to Lauderdale, so this can
be taken into consideration upon renewing the contract. Gustafson assumes this is
already being done for snowplowing. Linehan answers, yes, Public Works generally
tracks their mileage.
May wonders where debris is being dumped. Linehan explains that the first sweep is
dumped at the transfer site at the State Fair because it often contains salt, and the
City pays for disposal from a private third party. Thereafter, it's dumped at Ramsey
County compost sites in the fall, which private contractors are not allowed to do.
During the fall, they can sweep often, resulting in cleaner catch basins and safer
streets.
Wassenberg adds that this is a win-win situation.
Councilmember Mogen motions to approve a contractwith Lauderdale to provide
street sweeping services for the community;
Approved 5-0
2. Approval of Resolution26-24 Approving a Contract with TimeSaver OffSite
Secretary, Inc. for Recording Minutes
Linehan explains that the city council discussed this item at the workshop, to
outsource minute-taking to a third par$. This firm is used by many cities in the area.
Minute-taking is time-consuming, allowing staff to focus on other duties.
This is not time-sensitive.
May wonders what the process is, would staff still review the recording as well?
Linehan answers that the firm would provide draft minutes to staff, which are then
reviewed and edited if needed, but staff wouldn't also review the entire recording.
Mogen wonders if a total estimate could be provided from the other firm, as well as
for less detailed minutes. Linehan answers yes.
Mayor Gustafson motions to table Resolution 26-24 Approving a Contractwith
TimeSaver OffSite Secretary,Inc. for Recording Minutes
Approved 5-0
3. Approval of Resolution26-25 Authorizing Change Order #2with New Look
Contracting, Inc. for the Falcon Heights Community Park Improvements Project FH-
01
5
Linehan notes that the contractor flagged that there was no mop sink. The benefit is
that if the shelter gets rented out we can require the renter to clean up.
Mogen expresses concern/ as this requires a change in the kind of water heater, and
thinks it's better to have an on-demand water heater. Linehan explains he is waiting
for a response from the contractors. May agrees with Mogerf s concerns.
Mogen proposes negotiating an on-demand system and adding one for the mop 'i
sink, instead of having 1 storage kind water heater for all the sinks. Linehan says that
they installed the floor plumbing and are pouring the flooring, but are waiting for a
final answer. The council continues to discuss options. Linehan will discuss with the
contractor to get the best solution.
Council discusses amending the resolution to add:whereas the City Council is
interested in maintaining an on-demand water heating system and is authorizing the
City Administrator to negotiate the change order.
Councilmember Mielke motions to approve amended Resolution 26-24 Authorizrng
Change Order #2 with New Look Contracting,Inc. for the Falcon Heights
Community Park Improvements Project FH-01;
Approved 5-0
I: INFORMATION / ANNOUNCEMENTS:
May explains the Environment Commission continues to plan the Sustainability Fair; it
will be on Saturday, April18, from 11 AM to 2 PM at Falcon Heights City Hall. They are
looking for more volunteers to assist with the event.
Mielke notes she and May attended the Ramsey County Active Communities meeting to
learn about different grants available for transportation projects. The Community
Engagement Commission met and continues to work on a new mission statement. They
also discussed plans for Spring Together, which will be on May'1."6, from 3 to 5 PM at
Curtiss Field Park and will feature the Falcon Heights Orchestra. She also attended
various board meetings.
Mogen alrnounces the Planning Commission met with the developer for Fairway
Commons, who is looking for an amendment on the existing PUD that was in place for
Amber Flats. The new developer is proposing 110-unit apartment buildings for 55+. The
Planning Commission is recommending it for approval by the City Council at their next
meeting. Additionally, the commission also approved the compliance with the
comprehensive plan for the city to purchase the Get Pressed property at1,407 Larpenteur
Ave. W.
Linehan explains that the next installment of "Discover Falcon Heights" is launching
soon and will cover snow clearing by the Public Works departrnent. Staff will reach out
to all candidates who showed interest in the CAC. Staff will be meeting with the
University of Minnesota for an update on the Les Bolstad Golf Course Redevelopment.
Linehan provides an update from neighboring communities and where they are at with
appointing a member to the CAC. Lastly, work resumed at Community Park. Staff is
working on finalizing the grant agreement with the DNR. A purchase agreement for
L407 Larpenteur Ave. W. will be brought to the next City Council meeting. American
Environmental is going around cleaning and televising city sewer lines.
6
Mogen adds thatfor the Communif Advisory Committee, the plan is to appoint
members at the April22 meeting of the City Council.
J: COMMUMTY FORUM:
Please limit commen:ts to 3 minutes per person. Items brought before the Council will be referred for
consideration. Council may ask questions for clarifcation, but no council action or discussion will be
held on these items.
K: ADIOURNMENT: 7:47 PM
Councilmember Mielke motions to adjoum the meeting;
Approved 5-0
Dated this 8tt day of April,2026
Randall Mayor
Jack City Administrator
7
BLANK PAGE
8
3/27 /2025 8:25 All
PACKETT 03551 March 27 Payableg
vENDoR sET: 01 City of Falcon Heighb8
SEQUENCE ! ALPEABETTC
DUE TOIFROM ACCOI'NTS SUPPRESSED
A,/P Rogular Open Ilq Regiater
P.O. #
G/I. ACCOT'NT
PAGE! 1
-_______ID________
POST DATE BANK CODE - - - - - - - - -DESCRIPTION- - - - - -. -.
GROSS
DISCOI'NT
01-03103 CANOI{ FINANCIAL SERVICES
I-42824275 Copier contract March
3/27/2026 APBNK DUE! 3/27/2026 Drgct 3/27/2026
Copier Conlract March
1099r N
101 4131-87 O10 - OOO CITY I{AIJL I.{AINTENA}ICE
153 . 59
153,59
=== vEtrDoR ToTALS === 163.59
01-03110 CENTURY LINK
r-20250327 9395
3/27 /2026 APBNK
Landline Svc March
DUE: 3/27/2026 DISCI
Landline Svc llarch
3/2',t /2026
73.83
73.83
1099: N
101 4141-85011-OOO TELEPIIONE - LANDLINE 73.83
=== VEI{DOR TOTALS ===
01-05032 FOREST LARE CONTRACTING INC
r-7383
3/27 /2026 APBNR
Retrofit shop LightE
DUE: 3/27/2026 DISCT 3/27/2026
Retrofit Shop Light8
1,937,50
1099: N
101 4131-87010-OOO CITY IIAIJIJ I,IAINTENANCE 1,937.50
=== VEIIDOR TOTAIJS === 1,937.50
01-O5OO8 HI'}TAITA IIISURA}ICE CO
r-673999293
3/27 /2026 APBNK
vision Insurace April
DUE: 3/27/2026 DIsc:
viEion Inauruce April
3 /27 /2026
72 ,32
72.32
1099: N
101 4112-89000-000 urscElr.aNEous 72.32
=== vEl{DOR TOTAITS ===
01-05440 I,OFFI,ER COMPANIES, INC
r-4L432342
3/27 /2025 APBIIR
!.{ail Sy8ld Charge
DUE: 3/27/2026 DISCT 3/27/2026
Mail systa charge
=== VEI|DOR TOTALS ===
159,50
159.50
1099: N
101 4L12-87000-000 REPATR OFFTCE EQUTPUENT 159.50
01-05843 UN NCPERS IJIFE INSURINCE
r-458800042026
3/27 /2026 APBNK
Insurance April
3/27/2026 DISSI
Ingurance Aplil
Inaurance April
hsurance April
Insurance April
=== VENDOR TOTAIJS ===
r,ife
DUE !
Life
Life
r,ife
r,ife
1099: N
101 21709-000
204 2L709-000
601 21709-000
602 2L709-000
OTHER PAYABLE
OTHER PAYABLE
OTI{ER PAYAALE
OTHER PAYABI,E
3/27 /2026
96,00
95.00
63.84
1. 60
22 .55
8,00
I
3/27 /2026 8 r25 All
PACKET: 03551 March 27 Payables
VENDOR SET! 01 City of Falcon Heighlg
SEQUENCE I ALPIABETIC
DUE TOIFROM ACCOI'ITTS SUPPRESSED
A,/P Regular Open Itfl Regiater
--------rD--------
POST DATE BANK CODE - - - -- - - - -DESCRIPTION- - - - - - - - -
GROSS
DISCOIJNT
P.O. #
G/L ACCOT'IrT
PAGE3 2
OL-O1299 KEIJTIY NELSON
r-20260327 9396
3/27 /2026 APBNK
Coucil Chanber TabIeE - Reim
DUE! 3/27/2026 DISC. 3/27/2025
Coucil chasber Tablea - Rainb
=== VEI{DOR TOTAIJS ===
L24.38
L24.38
1099: N
401 4401-90100-000 FURNITURE & EQUIPMENT L24.34
01-06483 SENTRY SYSTEMS, INC
r-809529
3/27 /2026 APBNK
Comercial Monieoring 4/L-6 /3DUE! 3/27/2O26 Dlsct 3/27/2025
Comercial MoniEoring 4/L-6 /30
=== VENDOR TOTALS ===
1099: N
101 4131-87100-000 PANIC BUTTON SECURTTY
94,50
94.50
94,50
01-06035 STATE CHEI'ICAL IIANUFACTURING C
r-904145557
3/27 /2026 APBNK
City Hall Cleaning Suppliea
DUEr 3/27/2026 DIsCt 3/27/2026city Hall Cleaning supplieg
=== VEM)OR TOTALS ===
472. OO
472 .00
1099r N
101 4131-87010-OOO CITY IIALL MAINTENANCE 472,OO
01-05784 UPPER CUT TREE SERVICES
r-341
3 /27 /2026
Tree RdovalDUE: 3/27/2026 DIscr 3/27/2026
Tree Rdoval
=== VEIIDOR TOTALS ===
=== PACKET TOTALS ===
1099: N
101 4134-84020-000 TREE REMOVATT
1,000.00
APBIIK
1,000,00
r.,000,00
4,r93.62
10
4/03/2026 2..52 P\l
PACKET: 03553 April 3 Payables
VEND0R SET: O1 City of Falcon Heights
SEQUENCE : ALPHABETIC
DUE TOIFROM ACCOUNTS SUPPRESSED
--------ID--------
POST DATE BANK CODE - - -.... - -DESCRIPTION- - - - - - -..
A/P Regular 0pen Item Register
GROSS
DISCOUNT
P.O. #
G/L ACCOUNT ---.--ACCOUNT NAME
PAGE: 1
DISTRIBUTION
01.OOO28 ALLSTREAM
r -22294444
4/O3/2026
Energency Landl lne 3/23 - 4/22
APBNK DUE: 4/O3/2O26 DISC: 4/03/2026
Energency Landl ine 3/23- 4/22
=== VENDOR T0TALS ===
1099: N
101 4116-85010-000 TELEPHONE
220.25
220.29
220.29
01.00879 BUSINESS IMAGES
I - 3449
4/03/2026
City Logo Clothing
APBNK DUE: 4/O3/2O26 DISC: 4/03/2026
City Logo Clothing
=== VENDOR TOTALS ===
640. l0
640. t0
1099: N
101 4112-70100-000 SUPPLIES 640. l0
OI-O722A CITY OF ST ANTHONY
I-46 9
4/03/2026 APBNK
March Pollce Services
DUE: 4/O3/2O26 DISC: 4/03/2026
March Police Servlces
=== VEND0R T0TALS ===
146,4 18 . 51
146.418.51
1O99: Nlol 4122-81000-000 POLICE SERVICES 146,418.51
01.05153 HOME DEPOT CREDIT SERVICES
I - 2026040393974/03/2026 APBNK
Shop Supplies
DUE: 4/O3/2O26 DISC: 4/03/2026
Shop Suppltes
=== VEND0R TOTALS ===
6. 28
6.24
1O99: N
101 4131-70110-000 SUPPLIES 6.28
OT-05887 RACITEL JENSEN
I - 2026040393994/03/2026 APBNK
Breathwork Instructor Feb-Apr
DUE: 4/O3/2O26 DISC: 4/03/2026
Breathwork Instructor Feb-Apr
276.OO
1099: Y
2O1 4201.87700-OOO INSTRUCTOR-SPECIALTY CLA 276.OO
=== VENDOR TOTALS ===276.OO
01-05853 ALYSSA LANDBERG
I - 2026040393984/03/2026 APBNK
Mileage Relmbursement
DUE: 4/O3/2O26 DISC: 4/03/2026
Mtleage Reimbursement
=== VENDOR TOTALS ===
lO99: N
101 4l13-86010-000 MILEAGE
1l .04
11.04
11.04
11
4/03/2026 2:52 Plt
PACKET: 03553 April 3 Payables
VENDOR SET: 0l City of Falcon Heights
SEQUENCE : ALPHABETIC
DUE TOIFROM ACCOUNTS SUPPRESSED
--------ID--------
POST DATE BANK CODE --.,..-,-DESCRIPTION---
A/P Regular 0pen Iten Register PAGE: Z
-ACCOUNT NAME--.-. DISTRIBUTION
GROSS
DISCOUNT
P.0. #
G/L ACCOUNT
O1-05582 MENARDS
| -2026040394004/03/?026 APBNK
Suppl ies
DUE: 4/O3/2O?6 DISC: 4/03/?0?6
Cleaning Suppl ies
Brine Tank Supplies
City HaII Repair Supplies
Counci I Chamber Suppl ies
=== VEND0R T0TALS ===
1099: Nl0l 4131-70110-000l0l 4132-70120-000
101 4131-70110-000
101 4131-70110-O00
t46.76
146.76
SUPPLIES
SUPPLIES
SUPPLIES
SUPPLIES
24.94
4 .08
113.26
4.4a
01-05665 METROPOLITAN COUNCIL
l - t?o4414
4/03/2026
May Waste Water Services
APBNK DUE: 4/03/2026 DISC: 4/03/2026
May Waste Water Services
=== VENDOR TOTALS ===
1099: N
601 460I.85060-000 METRO SEWER CHARGES
6t ,77a.43
6t ,778 .43
6t,778.43
O1-06002 NINENORTH
I -2026-038
4/03/?026 APBNK
Webstreaning/Cablecast March
DUE: 4/03/2O26 DISC: 4/O3/2OZ5
Webstreaming/Cab lecast March
=== VENDOR TOTALS ===
1099: N
101 4116-85050-000 CABLE TV
947.76
987.76
987.76
OI-06053 O'REILLY AUTO PARTS
I -3243- I 165r94/03/2026 APBNK
Battery
DUE: 4/03/2026 DISC
Battery
60.38
4/03/?026 1099: N
LOL 4132-7OI2O,OOO SUPPLIES 60. 38
r-3243-1165434/03/2026 APBNK
Bulb
Bu1 b
=== VENDOR TOTALS ===
4/03/20?6
6. 81
67. 19
1099: N
10r 4t3?-70t20-ooo SUPPLIES 6.81
OI-06II2 PIONEER PRESS
I - 39820
4/03/2026 APBNK 4/03/2026
?44. 16
244 . L6
March Legals
DUE: 4/03/?026 DISC
March Legals
=== VENDOR TOTALS ===
1099: N
101 4111-70410-000 LEGAL N0TICES 244 . t6
12
4/03/2026 Z:52 Pll
PACKET: 03553 April 3 Payables
VENDOR SET: Ol City of Falcon Heights
SEQUENCE : ALPHABETIC
DUE TOIFROM ACCOUNTS SUPPRESSED
-ID-----,--
POST DATE BANK CODE
A/P Regular 0pen Item Register
-.. - -DESCRIPTION- - -.. -
GROSS
DISCOUNT
P.0. #
G/I. ACCOUNT
PAGE: 3
ACCOUNT NAME----.- DISTRIBUTION
01.06I85 RAMSEY COUNTY
I -PRRRV-OO4 15I4/03/2026 APBNK
Special Assessment - Pay 2026
DUE: 4/O3/2O26 DISC: 4/03/2026
Special Assessnent - Pay 2026
Special Assessnent - Pay 2026
=== VEND0R TOTALS ===
1099: N
313 4313-94900-000
311 4311-94900-000
834.60
834.60
BOND FEES
BOND FEES
4t7 .30
417 .30
OI-06020 THE HARTFORD
I - 1770189993754/03/2026 APBNK
April LTD Insurance
DUE: 4/O3/2O26 DISC: 4/03/2026
April LTD Insurance
=== VENDOR TOTALS ===
95.38
95.38
1099: N
101 41 12-89OOO-OOO MISCELLANEOUS 95.38
01-05870 XCEL ENERCY
| -970260tO4
4/Os/2026
Electricity
DUE: 4/O3/2O26 DISC: 4/03/2026
Electricity
1099: N
101 4141-85020-000 ELECTRIC/GAS
33.92
APBNK
33.92
r -97027 r89l
4/03/2026
Electr ic i ty
DUE: 4/03/2O26 DISC:
El ectr ic i ty
=== VENDOR TOTALS ===
=== PACKET TOTALS ===
APBNK 4/03/2026
1l .73
45.65
ztt ,772. t5
1099: N
r01 4121-85020-000 ELECTRIC tt.73
13
BLANK PAGE
14
ITEM FOR DISCUSSION
FNLCOII IIEIEIIT5
THE CITY THATSOARS
Meeting Date April 8,2026
Agenda Item Consent G2
Attachment Resolution 26-25
Submitted By Hannah Myhrery Community
Development Coordinator
Item Approval of Resolution26-25 Authorizing Application for the Livable
Communities Development Project Grant Program for Fairway Commons
Description Livable Communities development grants primarily support projects that plan
to build new, rehabilitate, or preserve affordable housing (rental and
ownership) and community-driven commercial spaces. Development grants
support projects at all stages of development including:. Pre-development. Acquisition
. Environmental site investigation and cleanup
. Site preparation. Construction or rehabilitation.
Velair is proposing to apply for one of these grants in the amount of up to
$1,700,000 for the development of Fairway Commons. No match is required
and private developers must partner with a city, township, county, or
development authority within the 7-county metropolitan area that has been
enrolled in the Livable Communities program and is in good standing. With
the attached resolution, Falcon Heights would serve as the sponsor to
administer the grant funds expended for the project.
Budget Impact None
Attachment(s)o Resolution 26-25 Authorizing Application for the Livable Communities
Development Project Grant Program for Fainrray Commons
Action(s) Requested Staff recommends City Council approve Resolution 26-25 Authorizing
Application for the Livable Communities Development Project Grant Program
for Fairway Commons
City of Falcon Heights, Minnesota
15
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
April8,2026
No.26-25
A RESOLUTION AUTHORIZING APPLICATION FOR THE LIVABLE
COMMUNITIES DEVELOPMENT PROJECT GRANT PROGRAM FOR FAIRWAY
COMMONS
WHEREAS, the City of Falcon Heights is a participant in the Livable Communities Act's Local
Housing lncentives Account Program for 2026 as determined by the Metropolitan Council, and
is eligible to make an application and apply for funds under the Livable Communities program
guidelines; and
WHEREAS, the City has identified a project within the City that meets the Livable
Communities program purposes and criteria and is consistent with and promotes the purposes of
the Metropolitan Livable Communities Act and the policies of the Metropolitan Council's
adopted metropolitan development guide; and
WHEREAS, the City has the institutional, managerial, and financial capability to ensure
adequate project and grant administration; and
WHEREAS, the City certifies that it will comply with all applicable laws and regulations as
stated in the contract grant agreements; and
WHEREAS, the City finds that the project will not occur through private or other public
investment within the reasonably foreseeable future without Livable Communities grant funding;
and
WHEREAS, the City represents that it has undertaken reasonable and good faith efforts to
procure funding for the activities for which Livable Communities funding is sought but was not
able to find or secure from other sources funding that is necessary for project completion and
states that this representation is based on the following reasons and supporting facts: Despite
obtaining additional funding through other sources, there is still a significant funding gap.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Falcon Heights,
Minnesota:
l. That the City Council authorizes the application for Fairway Commons in the amount of
up to $1,700,000
2. That, if the City is awarded a Livable Communities grant for this project, the City will be
the grantee and agrees to act as legal sponsor to administer and be responsible for grant
funds expended for the project.
16
Moved by: CrosF>$ssn Approved
C.
GUSTAFSON
MAY
MIELKE
MOGEN
WASSENBERG
? In Favor Attested by:
Against Administrator / City Clerk
J
C
17
BLANK PAGE
18
ITEM FOR DISCUSSION
FnLC0fl HETEHTS
THE CITY THAT SOARS
Meeting Date April8,2026
Agenda Item Consent G3
Attachment Resolution 26-26
Submitted By Hannah Myhren, Community
Development Coordinator
Item Approval of Resolution26-26 Authorizing Application for the Livable
Communities Small Area Planning Project Grant Program for the Les Bolstad
Golf Course Redevelopment Master Plan
Description Livable Communities small area planning grants support cities in establishing
conditions for dense, connected, and equitable development in alignment
with Imagine 2050 goals.
The plan area must be a defined geography that is multiple parcels, a portion
of the city, and not exceeding one-quarter of the city's area. Examples include,
but are not limited to, former corporate campuses, culfural districts,
commercial corridors, and transit station areas.
Small area planning projects must result in a small area plan that is presented
for adoption by the city council and, if approved, included as part of or
submitted as an amendment to the city's comprehensive plan.
Applications cannot exceed $100,000. Eligible costs include:
. Consultant time directly related to creating the plan. Staff time directly related to creating the plan
The City of Falcon Heights intends to apply for $100,000 to assist with covering
consultant fees for the Les Bolstad Golf Course Redevelopment Master Plan.
Currently $60,000 has been budgeted for this for 2026, however this project will
be ongoing for several years and will need additional funding assistance.
Budget Impact None
Attachment(s)Resolution 26-26 Authorizing Application for the Livable Communities
Small Area Planning Project Grant Program for the Les Bolstad Golf
Course Redevelopment Master Plan
a
Action(s) Requested Staff recommends City Council approve Resolution 26-26 Authorizing
Application for the Livable Communities Small Area Planning Project Grant
Program for the Les Bolstad Golf Course Redevelopment Master Plan.
City of Falcon Heights, Minnesota
19
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
April8,2026
No.26-26
A RESOLUTION AUTHORIZING APPLICATION FOR THE LIVABLE
COMMUNITIES SMALL AREA PLANNING PROJECT GRANT PROGRAM FOR
THE LES BOLSTAD GOLF COURSE REDEVELOPMENT MASTER PLAN
WHEREAS, the City of Falcon Heights is a participant in the Livable Communities Act's Local
Housing Incentives Account Program for 2026 as determined by the Metropolitan Council, and
is eligible to make an application and apply for funds under the Livable Communities program
guidelines; and
WHEREAS, the City has identified a project within the City that meets the Livable
Communities program purposes and criteria and is consistent with and promotes the purposes of
the Metropolitan Livable Communities Act and the policies of the Metropolitan Council's
adopted metropolitan development guide; and
WHEREAS, the City has the institutional, managerial, and financial capability to ensure
adequate project and grant administration; and
WHEREAS, the City certifies that it will comply with all applicable laws and regulations as
stated in the contract grant agreements; and
WHEREAS' the City finds that the project will not occur through private or other public
investment within the reasonably foreseeable future without Livable Communities grant funding;
and
WHEREAS' the City represents that it has undertaken reasonable and good faith efforts to
procure funding for the activities for which Livable Communities funding is sought but was not
able to find or secure from other sources funding that is necessary for project completion and
states that this representation is based on the following reasons and supporting facts: The City of
Falcon Heights has budgeted $60,000 for consultant costs for one year; however as this is a large
development, this will be ongoing for several years and will need significant funding for
consultant assistance. One outcome of this redevelopment will be a larger tax base, but currently
the City of Falcon Heights has a minimal tax base to assist with these costs.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Falcon Heights,
Minnesota:
l. That the City Council authorizes the application for the Les Bolstad Golf Course
Redevelopment Master Plan in the amount of $100,000.
20
2. That, if the City is awarded a Livable Communities grant for this project, the City will be
the grantee and agrees to act as legal sponsor to administer and be responsible for grant
funds expended for the project.
Moved by:G.r-s\^$!os Approved
C.
GUSTAFSON
MAY
MIELKE
MOGEN
WASSENBERG
In Favor Attested by:
Against Administrator i City Clerk
5
o
21
BLANK PAGE
22
FNLCON HHEI|TS
REQUEST FOR COUNCIL ACTION
THE CITYTHAT SOARS
Meetins Date April8,2026
Aeenda Item Consent G4
Attachment See Below
Submitted By Jack Linehan, Citv Administrator
Item Approval of Comcast Agreement for Wi-Fi Installation at Community Park
Description As the Community Park renovation project continues to progress, the City
must now consider it's options for establishing Wi-Fi within the park to help
power the future installation of security cameras, autolocking doors, etc.
The City's IT provider, MetroINET, has determined the best method for getting
internet to the park building is for the installation of a mobile "hotspot". Th"y
quoted Comcast Business as their authorized partner to get pricing for
connection to their internet system. Comcast has provided a quote for ethernet
line to be installed at $3,100, followed by monthly service fees, dependent
upon the bandwidth selected.. 50 Mb - $291.00/montho 110 Mb -V86/ month
If the City enters into a 60-month contract rather than a 36-month contract,
Comcast will waive the $3,100 installation fee, and only the monthly service fee
would apply.
Staff worked with MetroINET and have determined the 50 mb option for 60-
months is the most economical option and meets the needs of the park project.
Budget Impact N/A
Attachment(s)Comcast Service Proposala
Action(s)
Requested
Staff recommends that the Council approve the attached service proposal and
authorize the City Administrator to negotiate a 60-month contract with
Comcast for internet connection in Community Park.
City of Falcon Heights, Minnesota
23
Comcast Servic€s for City of Falcon Heights
Presented By
Steven Urquhart
steven urouhart@comcast.com
(651) 493-s139
COMCASTBUSINESS
3/2412026
Falcon Heishts Park 2050 Roselawn Ave
M,ETRO INET 2660 Civic Center Drive
EPL 50 Mb s291.00 53,100.00
: r ll l:ii{llrl! :li{1,!1,,\ iii r'li\li ilj'i i,t,r;r,jtir:, i.i1, &i(,]ir)fl .
i;drtrl!!ii, l|tilrlt,ll1illli l $iL,)ri!il;l[ !iLi,;.rl]rll.!l , .li: lrr,t^rr,,,;I {.' I'ii,.Jr:r Ji),ll.Jr
So.ooS291.oo
'i r;:t{lil. tttlU tldo}iiiiiiLrli
' I i i I j i i r i I i i I i : I o r r'irl.'Jtlllili
2050 Roselawn AveFalcon Heights Park EPL 1OO MB s486.00 So.oo
METRO INET 2550 Civic Center Drive
lf;riloil.xtllir,f)\ riii rliil, t,rit i:tilji,i;ill:i,ir{i
'il:jt,,;lt ,. ilro;1. I
' i/r,j'l{itiiI r{i 'iirlili.}iirLrl
ii ri::Iiji{IJ:rr rliltYtl\ il;,,ltll j;'IilIIll rlilli$r!rr ili't;,i!i.lrtLii;) l
S486.oo So.oo
;'1lll ll i t.{ i(i1lrJ }};{,,r 11ij ir,;
l'rrli ,ili;I ito)il*ilrJriililjl.,
,:,ri:.lllLt,lOr ':lclrolij
24
BLANK PAGE
25
ITEM FOR DISCUSSION
FNLCOII IIEIEIIT5
THE CITYTHAT SOARS
Meeting Date April8,2026
Agenda Item Consent G5
Attachment Resolution 26-27
Submitted By Colin Callahan, Public Works Director
Item Approval of Resolution26-27 Declaring the Public Works 2010 Elgin
Crosswind Street Sweeper as Surplus to Sell to Purple Wave Auction
Description City Council approved the purchase of a refurbished2017 Elgin Pelican NP
Street Sweeper to replace the City's current 2010 Elgin Crosswind during the
Regular Meeting on February 11,,2026.
City Council is now asked to formally authorize the declaration of the 2010
Elg Crosswind street sweeper as surplus property and to facilitate its
disposal through Purple Wave Auction. This regenerative air sweeper has
surpassed its optimal service life, and transitioning to an online, no-reserve
auction platform will ensure the highest recovery value by reaching a national
network of buyers. The equipment will be sold in "as-is" condition, with all city
branding removed prior to the listing, and the proceeds will be allocated to the
capital fund.
Budget Impact Surplus dollars will go back to capital.
Attachment(s)a Resolution 26-27
Action(s) Requested Staff recommends City Council approve Resolution 26-27 declaring the 2010
Elgin Crosswind Street Sweeper as surplus property and authorize listing it for
sale on Purple Wave Auction.
City of Falcon Heights, Minnesota
26
CITY OF' F'ALCON HEIGHTS
COUNCIL RESOLUTION
April8,2026
No.26-27
A RESOLUTION APPROVING THE DECLARATION OF THE 2O1O ELGIN CROSSWIND
STREET SWEEPER AS SURPLUS EQUIPMENT
WHEREAS, the City Administrator is authorized to recommend City property that has reached its useful
life be declared surplus; and
WHEREAS, the 2010 Elgin Crosswind street sweeper has far exceeded its projected service life of seven
to ten years and no longer holds useful value to the City of Falcon Heights; and
WHEREAS, the City of Falcon Heights replaced the 2010 Elgin Crosswind street sweeper with a2017
Elgin Pelican NP street sweeper.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the Cify of Falcon Heights,
Minnesota:
l. That the City Council declares the 2010 Elgin Crosswind street sweeper as surplus
equipment.
2. That the City Administrator is authorized to negotiate with Purple Wave Auction to sell the
2010 Elgin Crosswind street sweeper.
Moved by:
GUSTAFSON
MAY
MIELKE
MOGEN
WASSENBERG
5b\r\Approved
5 In Favor Attested by
Against
Jack
City / City Clerk
27
BLANK PAGE
28
FHLCOH TIEIEIITSTHECIryTHATSOARS
REQUEST FOR COUNCIL ACTION
Meeting Date April8,2026
Agenda Item Consent G6
Attachment See below
Submitted By Kelly Nelson, Administrative Services
Director/Deputy Clerk
Item Resignation of ]oe Morseth from the Parks and Recreation Commission
Description Joe Morseth was appointed to the Parks and Recreation Commission in May
2025 and has been serving as secretary.
Joe went to school for parks and recreation, previously coached soccer, and
brought relevant knowledge to the commission.
Staff appreciates joe's contributions and for their time spent on the Parks and
Rec Commission.
A vacancy will now be declared on April 9,2026, and posted for at least 30
days, allowing applications to be received and considered for this one (1) open
Parks and Recreation Commissioner vacancy
Budget Impact N/A
Attachment(s)Resignation of Joe Morseth
Resolution 26-28 Accepting the Resignation of Joe Morseth from the
Parks and Recreation Commission
a
Action(s)
Requested
Staff recommends approval of the attached resolution, accepting the
resignation of joe Morseth from the Parks and Recreation Commission and
declaring a vacancy.
City of Falcon Heights, Minnesota
29
t outloot
Resignation - Parks Commission
From Joseph Morseth
Date Tue 3/31/2026 2:13 PM
To Kelly Nelson <kelly.nelson@falconheights'org>
Good afternoon, Kelly!
My new job requires some Monday evening engagements. Therefore, I unfortunately need,to resign my
seat. I can attend April's meeting if needed. Please let me know if you need anything else from me.
Hope all is well!
Thanks,
Joe
Sent from my iPhone
30
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
April8,2026
No.26-28
RESOLUTION ACCEPTING THE RESIGNATION OF JOE MORSETH FROM THE
FALCON HEIGHTS PARKS AND RECREATION COMMISSION
WHEREAS, the City appointed Joe Morseth as a member of the City of Falcon Heights Parks
and Recreation Commission on May 14, 2025; and
WHEREAS, Joe Morseth has submitted his resignation from the Parks and Recreation
Commission effective immediately.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Falcon Heights,
Minnesota:
l. That the resignation is accepted by the City Council of the City of Falcon Heights.
Moved by G.r-sL-5S,-*Approved
Mayor
C
GUSTAFSON
MAY
MIELKE
MOGEN
WASSENBERG
5 In Favor Attested by:
Against Administrator
31
BLANK PAGE
32
FNLCOII IIEIEIIT'
THE CfiY THAT SOARS
REQUEST FOR COUNCTL ACTTON
Meeting Date April8,2026
Agenda Item Consent G7
Attachment Application and Resolution 26-29
Submitted By Elke ]ohnson, Administrative and
Communications Coordinator
Item Appointment of Caitlin Klaeui to the Community Engagement Commission as
a Commissioner
Description City Staff, the Community Engagement Commission Chair, and Council
Liaison have interviewed and recommend Caitlin Klaeui for the Community
Engagement Commission.
Caitlin Klaeui has lived in Falcon Heights for five and a half years. As a renter
and former student, she recognizes that many residents who rent in the
community, particularly students and recent graduates, may see their time in
Falcon Heights as temporary. Caitlin believes this group represents an
opportunity to strengthen community engagement and connection among
residents who might otherwise feel less connected to the city.
Budget Impact N/A
Attachment(s). CommissionApplication. Resolunon26-29
Action(s)
Requested
Staff recommend approval of Resolution26-29 appointing Caitlin Klaeui to the
Community Engagement Commission
City of Falcon Heights, Minnesota
33
I outlook
*NEW SUBMISSION* City Commission Application
From Falcon Heights, MN <falconheights@falconheights.org>
Date Tue 2/24/2026 1:56 PM
To FH Mail <mail@falconheights.org>
City Commission Application
Submission #: 465074I
lP Address: 2607:ea00:107:807:bd15:5d61:93db:e114
Submission Date; 02/24/ 2026 1:56
SurveyTime: 19 minutes, 25 seconds
You have a new online form submission.
Note: all answers displaying rr*****rr are marked as sensitive and must be viewed after your login.
Please complete form below. Starred items are required. Press submit button to complete your application.
Date and Time
02/24/2026 01:31 PM
Full Name
Caitlin Klaeui
Full Address
7777 Fry St
13
Falcon Heights, MN 55113
u.s.
Phone
Additional Phone
Email
How Long At Above Address?
5.5 years
Which Commission Would You Like to Serve On?
Community Engagement Commission
What is the Reason You Would Like to Serve?
I see Falcon Heights as having great potential to be a tight-knit community, while still having the connections and benefits of
being proximal to the Twin Cities, University of Minnesota, and the State Fairgrounds. Many of the renting residents are students
or former students who are "passing through" or do not intend to make Falcon Heights a permanent home. As a renter and
former student, I believe this population is currently a missed opportunity for fostering engagement and community.
List Prior (Previous) Public Service
As a graduate student at UMN I was a representative on the Council of Graduate Students (1 yr), a representative on the CFANS
Graduate Student Board (1 yr), a student representative on the CFANS Graduate Research and Policy Review Committee (1 yr), a
34
representative on the Animal Science Diversity and lnclusion Committee (2 yrs), and President of the Animal Science Graduate
Club (1yr). I actively organiz€d the Graduate Labor Union on the St. Paul campus for 2 years.
Other Relevant Background (Other Comments)
I volunteer at Feline Rescue supporting adopters in finding their next feline companion. A current issue we are facing is housing
or rehoming pets whose owners are affected by lCE, and educating renters on their rights to keep pets in a variety of situations
(e.g. leases, shelters, immigration, etc).
Thank you,
Falcon Heights, MN
This is an automated message generated by.Granicus. Please do not reply directly to thls email
35
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
Apnl8,2026
No.26-29
RESOLUTION APPOINTING CAITLIN KLAEUI TO THE COMMUNITY ENGAGEMENT
COMMISSION
WHEREAS, the Community EngagementCommission shall serve in an advisory capacity to the
City Council regarding the effective, meaningful, and equal involvement of Falcon Heights
residents in their community.
WHEREAS,CiIy Staff , the Commission Chair, and Council Liaison have interviewed Caitlin
Klaeui and recommend appoinknent to the Falcon Heights Community Engagement
Commission.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Falcon Heights,
Minnesota:
1,. That the appoinfrnent of Caitlin Klaeui to the Falcon Heights Community Engagement
Commission is approved and adopted by the City Council of the City of Falcon Heights.
ADOPTED by the Falcon Heights City Council this 8th day of April,2026
Moved by: Cru-s\-a\>s\
Mayor
C.
GUSTAFSON
MAY
MOGEN
WASSENBERG
MIELKE
5 In Favor
Against
Attested by:
Administrator
36
BLANK PAGE
37
IELLI!,^!#F#rs
ITEM FOR DISCUSSION
8,2026A
See below.
Attachment
Date
Item H-1
Commum
Hannah B.Myhren,
CoordinatorSubmitted BY
AmendmentUnit DeveloPmentPlannedConsiderationof FairwaY CommonsItem
DeveloPmen t was approved for a 100-unit affordable
In 2023 a Planned Unit Amber Flats,located ln the parking
housing apartment building to be named VelairAmberUnionApartments.In 2025
lot just west of the existing
approached the Clty with interest to
DeveloPment CompanY ('vDC")tion the process to amend the
the propertY and needing informa on
purchase
DeveloPmen t.Planned Unit
\A/henAmberFlatswasapproved,therewerethreemaind'eviationsfromCity
Code: +L6 ffiA'imrrm allowed in
. The height of the proposed building was over'the maximum allowed
theCityl+O'o'+Jto'i""whicheveiisless)at49'inheight'
.Theimpervioussurfacetot'"'ug"*u'o"*themaximumallowedinthe
CltY (7i% of the lot) at atotrndT6%'
.Theamountofparkingthatwould.havebeenrequiredforthebuilding
(At the fi^;,;J|u.", i", uniu rhis has since been changed to 1. space
per unit) *u' too low at 1"'L4 spaces per unit'
THE PROPOSAL
underground Parking area'
Description
City of Falcon Heights, Minnesota
38
A
Code with the standard requirements for new
Below are excerPts from CitY
this ProPertY is currentlY located in'
develoPments in the zoningdistrict
proposal does or does not currently meet
Bolded next to each item is how the
those requirements and anY additional staff notes
is currentlY zoned Amber Flats Planned Unit DeveloPment with
This ProPertY zoning of R5M,High DensitY Residential Mixed Use
an underlYing
Sec. 1.18-182 @) Purpose and intent' The purpos'e "f ly *i::!"use high density
isidentiat districti'";;;;;;i' inI "":i'/;,V;i7'il,ff;'#illi!f;:;;::i':il*
;i:ruw,!:#Tf,Ii"lY:Y.::,4TF"i";ri,":';;;;;;;lr'"a""'itvgoator
28 residential units p" o':"'Proposal meets this intent'
"'ii';tri'n::;H#l?'ii'i'1';y1.iyy"I":;i1:W1:T:'{:;.vr";::"n"*'
meetsthisrequirement@iustundei40dwellingunitsperacre.
Sec.'l'1'
(1)
to additional
13-241.
ftingProPertY
153.5'.
zonedR-1. is 50 feet
@ rhe
Proposal
the rnfrxunum height ts four stortes or
(4)ExcePt AS proaided TN section L 1.3-243,uirement at 45'
les Proposal does not meet this req
40 fttt,whicheaer IS s the ceiling heights are
increas e to around 49'6"if
1S6"and may reference,Falcon Heights Town Square
changed to 9'ceilings.For existing Amber Union
height at its tallest point,and the
around 49'1n its tallest Point.This building wo
building 1S over 52'tn height at
be stepPrng down from that,or toughl
Rear YardSide YardYardtFronLotwidthLot Atea
30 feet
ProPosal
meets this
requirement
@ 64.7'.
Lwight of the
building,
uhicheaer is
greater
ProPosal
meets this
requirement
@ 24.5'.
1.0 feet or 1/, the
30 feet
ProPosal
meets this
requirement
@ 43.L'.
200 feetN/A2.5 acres
N/A
Square w1th 9'ceilings throughout.
v the same height as Town
uld
39
Sec.L 13-241 folloruing shall be permr tted
@)Permt tted excePt as lestricted by other
encroachmen
T;:'::;:Uyi,:W",#f ';::,-,#;r;;W;#:;;W:V'i'if;!'!{i"i,#{"r'""
imPeruious sutJaces r
toial of 2.6 acres. n,.#., r=t"*io,rr roti"l" "" r"t is 1'9 acres which is
around 73.8o/oi*p"*ioo-r. Tie prop;;i;p"rvious surface is 1'6 acres
which is around 6;:;;;;;;;t;"':;;;o'ui '"""t' this requirement'
DIVISION 2' - OFF-STREET PARKING AND LOADING
"i'ii:r?;ri,xi,iiii::'!;X':;p',v':lT"*'#:;!;;:,in'::ffi:;:;,:1"*^
4 district ,n if ^ppty
except' tiat ,lifrrir"ii prirrrnt of the reauired parking
sp ace s f o*pl"'i#' i'"0 ilain g"hoti ;" ;i"it gr ade a n d in ti gr at e d i nt o the
aPartment building'
Q) The fotloruingproaisions shall nppl1 lo thE R-3 andR-4 districts:
(e) off-stree'ro''*:ii'roii""i''Iia';;';;;;;i"'ti sso square feet) shattbe
as follows for:
Multiple-family dtuelli'?'' ,+t l::::-,one parking :p*tt-p^t:^dtuelling
unit' By
code, this property would::qi']-t tio pariing 'p:t:t'with
80% of
thosebeinsbelowgrade(qt-'^n":"ilX";-;"fi {Y:""fi ;;:[1"i"*l;;;;""n"ir*ffi ;*f*'il",1;frI,'lg;-'",iisperunit.116 Parking sP
Proposal ^""tJ*r'i' tuloi'"*"*i"tit'Lr pu't1og stails' not for the
subsurface '
C ompr ehensia e P I an C o nsistencY
A pUD must be .r^rri**-*iafn it e city comprehensive plan and the intent and
purpose of the c"yCla" provisions 'Jr"o""? hnd use' subdivision and
develoPment'
40
reference,however a full
below for
relevant Plan can be found online:
copy of the 2040
t
F r om E alcon Heights 2040 C ompt ehensia e Plan:
Housing Goals:
3' KeeP housrng
income levels'
aff ord.able, maintenance affordable, and accessible to all
GeneralLand use Goa-ls r r^-,arnnnrentbv minimizing impervious surfacing
8. Encourage 'iitt"r developmentby minimizing in
and maximizing sPace'
LarPenteur Corridor Policies
a. Arlow n"*iuirrtv il development standards on t"t:T:;l:4i""""ff'"
the challen;:':i il;"rogins' 1a11
properties on
surroundini ttia"""al development'
N"'glTJiil:"Xllf*"avalabilitv*i$'ffiJif5?tJi1'**1"topublic
i:'irukl;"-:r::HtJ':':'i".{,;":'#i.ii:rmmme.srw
"*1,{*ilH:.tTJ$":i{dr,igha"""'v'ry;ffi :fl",i';:'
practices ft';;;;ing green space and promotmg -.--
Commercial/Business Goals oedestrians and those using non-
3' To ensure "t*"-;Jsafety
for pedesttians and th
r'
,,ioio'i'"a transportati:n' '-'.^- i,'' srrfficient amounts to meet parking
6. To provide tf,tti*t""t parking in sufficient arnou
demand.
41
apPlication'
2026.
202:6
1
z.
hours
48
42
None.actBudgetrmp
43
. Posted Notice
. NewsPaPer Notice
: N;;+aPer Notice Affidavit
: [*ti:iily",";fr""T i}!il.,":h code - Amendments to zonins
Code. Co**"nts from City Enginuut*g+
Draft Traffic Study submitted to
: -;;*ents from RamseY countY
a
a
a
a
o
a
Approv
Amber
CountYRamseY alFacts tsofHeighFalconFindingstheRAFTofD131ChaPterAmending26-03OrdinanceDRAFT nitU DeveloPmentPhnnedtsFla alconFtheConcernrngof13tCodeCityChaPterAmending26-03 tOrdinanceDnitSummaryUDRAFTFlatsArnberCode
)s
tsRequested
Action(s)
44
Docusign Envelope lD: DM31 71 6-5F0E-4D51 -A878-F85F46580A54
Oglffilffffi'l"1fls"
Action Requested BY:
Name of Pro
Phone (h/c)
ProPertY OwnerAddress of
icant (if ditferenName of APPI
Lyndale Avenue South'
Address 7645
ProPertY lnvolved:
1644 Avenue
Address See attached'
Legal DescriPtion
WEST LLC
BLVD, SUITE
DeveloPment ComPanY
MN 55423
Heights'MN 55113
212923110028 and 21
MN 55416
2-243'4623
of
BUHL LARPENTEUR
WAYZATA
(w)
502, SAINT
2929110029
true
LOUIS PARK
Phone 61
5353
ldentification
0 Velair
MinneaPolis
West, Falcon
umber (PlN)N
ProPertY
Present Use of Property (check one):
n
-iingr"
FamilY Dwelling
[
"rJ.oTwo
FamilY Dwelling
6 rtttn, Family ComPlex
O Business/Commercial
; ;;;;menulnstitutional
E U"."* Land [Parring Lotl
I certify that alt sta0ments on this apPlication are
Signature of
(dL [)rz.,-t'u,,tureSigna
Date:
FORINTERN
Date received:
ReceiPt:
ALUSE:
City Counoil meeting;
ApProved Denied
-
Planning Commission meeting:
Date:
2/26/2026
Owner (required)
3t212026
nt (if
4cF608EF-5CAD-4838-A760-
1F31F5DC462D
Docusign EnveloPe lD:
EXIIIBIT A
ht"lDtt"ti"ti"t "f P
{To be confirmed bY the Comniment'}
4cEL lt
:i:f"K3;ff ::llltrJ:f i,:Kfit"ff 'fJJff ,x1l:"1iffiilT*ltrJ'"eiJ::l'$Ti'\"s"'li'T;:
Range 23'
PID:212923110029
PARCEL 2:
;*,.-Y,'.,ff i::li:if i#J":',t'J:r;i:'*'i:;,J%:ilT',)il':$":l';iffJ;:lT'T:ffi1
PID:212923110028
31236393't9
A-1 46
pEvELopMENTTEAM
lmoany (,vDc") is an affordable hou.singd-e".":""ir:t"T::lJ,i1':ll'..,:1y}'oil*
F*+*il"lt**'***r#"il::'"*#'*iryiff
'1;uili**J,*,"'""'
:$ffi: rli lffi lil $' I i*: :$ln: ilT 11 i: 11J; :1 ;
I oversee the
.
residents'
V e, a i r p r o p e * y: : ffi T : :: : "xly
J, ff
;;: 1 Tfi ::[ ]* il,":$-T hft il"-il J** i'' *:"fi '
flffil?;::THl";**f ni'ls rhev'a
FAIRWAY COMMONS PUD
Planning Commission I City Council
March 114'20261 APril 8'2026
to develop a 1L0-u nit senior (55+) affordable aPartment
willinclud
building at
eamixof studio, one' and
1544 LarPenteur
FairwaY Commons"The building
level of underground parking' Gross
be known as "
four stories of reside ntial and one und Parking
orPlans across atL26,329 square feet'including the undergro
housing'
VDC is ProPosing
Avenue West to
two-bed room flo
the building is estimated
square footage
area.
AMENITIES
of
c-ommon Areas
1"" uno"te'ound Parking
- CommunitY room
- Fitness center
- tibrarY/Craft room
- Secure Package room
- Outdoor Patio
- BicYcle storage
Units
- Washer/DrYer
- Quartz counterto.Ps
- ;;";uinYl Plt*@ir,"rmo.tut
- TemPerature con'
- ttt*n *"ed internet hookuPs
L 47
/ Untt
TotatTotatUnits 0.90
Union 1.05*116
PUDFtatsAmber
bedroom)
54 existin*Does NOT
g surfa
aside for use bY Amber Union'
ce stalls on 1644
2
Ave W property that willbe and set-
48
the property is less than a
Addition allY,from Bus Route 61'
ft walking
confident
distance
that the proPosed parking is
d income restrictions that average
household was
The proiect will have rent an
mit for a 2-person
limit.ln 2025, the 60% AMI li
underwritten at the following:
*:n :r
};i:I li* ErtT ilfiffi T'ffi
: :
"""
;ilI."#i"ff i[
"l'il
:l'T
m e (AM I )
Unitsof
Rents
3 49
Benefits
a
a
a
a
DeveloPment Schedule:
CitY Council WorkshoP'
December 2025:
MMB Bond APPlication
a JanuarY 2026:Neighborhood Meeting
Feb ruarY 4, 2026:
Planning Commission
Bond lnducement Resolution [Complete']
IComPlete]
[ComPletel
a
a
a
a
March 24,2026"CitY Council
April8,2026:
MaY 2026
Submit for Building Permit
on Financing' Start Construction
Secure Building Permit' Close
ComPlete, Lease -uP Beginsr June-JulY2O26t 7'. Constructionr SePtemb er 202
looks forw ard to working with the CitY of Falcon Heights
reach
to deliver a high-
out with anY
where PeoPle can live at an affordable price. Please
Velair DeveloPment ComPanY
:il;;;;""'in g deveroPment
l""t,i""t or comments'
4 50
'n^YYfu&' c'6*'*Lr'
[Til, g:'Tli[ *' Associ ate
OvELAtR
5
51
FAIRWAY COMMONS
,UOO ,urp.nteur Ave W' Falcon Heights' 55113
,:: ',:-:
COVER
FAIRI]IIAY colllloNS
CONCEFTUN RENDEilNG
I
92
.'".'-..: ; , ,. a/
I esER uNtoN
E FACON HflGHTS
E MNNESOTAsTATE FAIR PARKING
I'I URPENTEUR WOR APRTMENT
B F{CON SMS APARTMENTS
E 5TOUT'S PUB & GRITL
U FACON CENTER
u BP GA STATTON
u FNCON CROSSING
E GROUsEL FUTS
E CURTI55 FIELD PARK
1" = 200'{"i\Vt FA]RUUAY COMMOI'ISSITE CONTEXT
LARPENTEUR AVE W ll BUID|NcENrMNcE
E G$GE ENThNCE
E coMMUNtTYPATto
I hNDSCAPE G$DEN
E STORMWATER tNFtTuTtoN BAstN
tI BIKE MCKS
F
ooo
=EUozf
b
II
o
I
i
o
i_
'a4
a;a ::2'.',:' /::
: .2.::, :a
|,:.:),r
-:2 a' :. '
1l'r,-: ;i ,,a ?-''4, '
'a:4.:, 'N
r#41
Approx. FAR:0.9
1" = 60'4"
:<,t:,1 l'.t -::
UNIT MIX. GROSS AREA
l: ':l
PARKING EASEMENT
.-:: .:| |{- , :: :'ll.:
: e,:l t r: l,:,:1i;
PARKING
)t ')': ti:: ,i,!
.::ll
,,:: .:i 'l
2).. )2
GROSS AREA - TOTAL
FAIRWAY COMII'ONSSITE PLAN
5{
V[1,-V+
FAIRWAY COMMONS
FLOOR PLANS - LEVEL -1
V
t:N1 lllll[wtl Ll Ll Ll Ll lJ l-] l1
i\Y
A';:ai
I
FAIRWAY COMMONS
FLOOR PLANS. LEVEL 1 56
I
Illt'lr
I
L
Ii
I
l
i
FAIRU{AY COMMONS
FLOOR PLANS. LEVEL 2.4 57
[\
EXIERIOR MATERIALS EKIERIOR MATERIALS
Moteriol Morkil Desciiption
i-. .,,v 1.:l:. .rl5 acrn - !l::.:::-'i Ash
!\- '- -' ,l Col,ng - Cclcr ?1.::k
, .j . )r,:e:-i1 ' t-;|i3.-r'' - _.''-4-tl 3
i.*-,--,. l,--:: -,
5r: l --,.--..,"rrc,s-|:r.: I r-::'r-.:,. -..
.l -tr",' =r'l'. , r-.1
-r,- .sr1 i 3",;il_e
-i_.r. rmer_jir.j=-ii'-' . -i.:it-.|'..:-j.:::c '-:. :!l tr
lmoge n4oteriql Mork
7a
Desc.iplioi
!;:jr--";': rresrr': s'P:qel'S -.- r. a. ccl
lhdge
71 ::..ir' :-:';-':;rjqr.'re-i;'el-:._ j: L- jf c, a;
:'1 : '1,-: :
'lo.- -'=i::elcc -''
l'\iI
59
t-
sNolrvAlll u0lullxl
SNOn$o3 AVl"tUlVl
:: 'i"E
a4 7L
i ;; :-i :i; l3
-i rI!l
91ILtL
L'L
L8t9
aFzul
t-d
o
azo2
=o
=d
r
q
9
;
t
5{
=3i{1r:';]
c0.0
FAIRWAY COMMONS
FALCON HEIGHTS, MI
APARTMENTS
NNESOTA
ISSUED FOR: CITY SUBMITTAL
@
{
r€i5
SITEro"n ,o"u^"$
APARTMENTSCOMMONSFAIRWA,i'i,lj,!i!j
L :iil i
. :!i,oJ.O
... i:i r.j rrii .l'.': !:i
.r,, r.' ri.'^ir .il
I,
l1
I
I
E
ai**EF er;il3I 'gilis E:lq! .[
i i i\l IlE
Lrrlrrllz
ii'i'iiilPLi Lr -rl>
iEiit?\e
h eE iil
ia ii iili Ei?l: F IEIE "PI
!lE
?FEtz
ltP
'ts
t iri tri tt
8e a ;ii q i
i:'iEq ;
8s
!;
t
XO
!
E
E
I
?:
E
c
?
ffi
fl,a
I
I
I
i
I
I
/, .t
;, ':
: ..i
I
I
:.,. .:a ..\. , : :: ):
CIfr OF FICS HEIGNTS SITE SPECIFIC NOTES
I I .d@{o^il N
-
d$aoeilE*
t$.
@
.-%.9
ffitd,6{r I
/a\/-v .o/6"tV\:z
aFzu
Ft
I
azo
o
Bc
I
2
ooFzU
Iou
UoE
5-U
f)lUL
c2.0
I
:.
it
iJo
acir
:3
ii
!!
+
ft
1@URPEN'€URAVEW FArcONHEIGHTS MN55113
FAIRWAY COMMONS APARTMENTS
VELAIR DEVELOPMENT COMPANY
il;
lsi
F
,,t -
1i!i!;
iiji!;t'l;:sti
iiii:'
lu
ilL
ln
2IIIo![NR{- qE
l6 gl
l" Clln 6l
IEHI
t*t
t-l
iie
$a
. {"'1
#.)
'l
-- \l
'.. .:
I
I
I
I
I
i
i
I
l,',
i
i
i
..-,4, .j;: ,.'
CCNERAL CRADINC NOIIS CITYOF FALCON HEIG!TS CRAOING NOTES
"ry_." 9"carEc.F,q. €tffi
aFzU
FE
L
azo
o
Bt
L
I
9
t
z
o
=ooFzUE
o
d
Uo
d
3U
fi!t-t
c3.0
, :--.
: i - -.-
-,
| ,-
:4. ::
.,:r:''
.:i----t..'-
f
I
I
I
I
I
t
- ;il :
'ti : ,i1 it - |
!"
'!
tr I --t- I
,:.: : :t)'.). 1).:'ia1
GENERI UILIil NOTES
9rr!!14!99!!Et9!rs rg]Es
a'il
D
@o
Gri,'"Fd!. iF.ff:=:=!d
aFzu
Ft
L
azo
o
ft?I
I
a
$
z
I
=ooFzU
=o
U
Uo&
5u
c
a'i
6
3:
a
-4-i"H-
c4.0
L*,**
+.4,. ryE *I,{ffid,
ffi_ "jti;l.:,i. './ t. :";:i E /id.;I::,_fJ';ii.t:-i i-,*..
.-"":::.:*_,,'
r. . L 4 ,,ra-/
'-'-: ::i:i+--_:\.
A coNcRETE PWT.NALKPAD No FIBER
\f,, Nrs trryEPio4Rn)
/-A EXPANSION JOINT SEAWT DETALS
-
A CONCRETE 2O'CURB CUT
4tlp I * f'I tr)
rgL1{I Jllll,i r'-'*'. r/rN"1 ,^rl,-. I
o:i::1f *.1:r:.i.'*1;x ;r:::,itf :'. .:;iis:i3.;ti*i :e-I.E::iiJ;: :1,
A ACCESSIBLE SIGNAND POST
v-1"'-fi: = - ' 'Ii ;.*;;.L- 1 -,-, ir'
1 .^_-:,t- 1.,
CURB CUT
--IREM:s-- i: PTPEAEODNGN TRENCH DRAIN
,4\
d$/\s-o/\Y/
oFzuJ
Ft
I
azo
3v
L
q
t
$
z
=ooFzu
I
U
UoE
3u
Va lttt
c5.0
ii
i1
APARTMENTSFAIRWAY COMMONS
I64URPENTEUR AVE W' FALCON HEIGHTS' MN 55113
ll
E
I
':It
,;i:.!
ii;:i'i'li;!;;
iltir;
lu
ilr
l'o
sttI
- -- ;u;j.r--: ---!.triEii+a'-'' l. :.-'ril
! ,,i, 11.i;'
ttri!i
;!i
Nl-3t
I
l
')
;'r r:1F r,1
rl i!'J r!
{
iIiiI
'_-ii.TU;llj,,ri il
\ir1
eq;,"I , ' t. ,-. E .r -:'. .:-r
! /: :;I -..- a -''I:;-"-- I l.'
iili:
i iri:
i:i Iiii;
l
.:
Ioi
iii.i.4'
rS'
t*, -/it
.,trli r.!i i
i
iiir!l:
A/t,ll''
iili
i:t
{
'xtl...
{rl'
't1,i
f;
E
t
!
!l!;
!J9;
';llt
,!i!
il:l
i:li'''!ri
\ \i
rlial
l$
-: .--.;-.,. : : ,. ,:' .i -,--,'- .-. i ,. . -\t ... .. Lr
i.ri i : '\:=-| -1
;1.,);J;/'-.:i;=,::-. ..-,
I ---_-.--
--..\- - ::---+ii:l!-l'::-,--.-.-.
:- ;i:-i;=,,,.-,.-.--,
' *5r*:=i;i--:l:::-r:A :
-ij i
R.ir'' --- - ''1--*.Q;:^\s.Q;1'
i:l.::€.:::'"- ..=i_----_-.:,'. ;^",,
(:9":
d.'
kq!q?_v-rr#r5i-
.- .rl
-- j,::i"."
lad/,:': iItrAI;;:-.-r+;-
6cirs, -',
=.",:i:' !l
t_:
',:=l=...r:.ri*-:{
-a- F":-L
r <:-v_< ,, /
, .i ---i ..br. i:';.at)-r Tjar--'
-5;; 3.$.--
r, ,..1 iI\, r. ,-'t).'-" r.:l 'i-"JilaElli F=#
l' l=),. _,'-
.:rtl,jL
+Irjl-
.{; {; F'+/*v;=-
oFzLIJ
Ft
I
azo
oo
3taL
2
&
ooFzU
=dou
UoE
3u
-f**-
c5.2
!,FAIRWAY COMMONS APARTMENTS
I 54 URPENTEUR AVE W FALCON HEIGHTS' MN 55I 1 3
COMPANYDEVELOPMENTVELAIR
E
r
I'I
li:iil
';lili!iilii1?ii"ti$ffirJ'o P
i
l,'t
I
I
I
I
I
I
I
I
I
I
. tL (l!ir'l'L l i'r()Al) Al
r:, I ' -.
l
rl
I
t,
L
L
l
L
.l
I
I
i
1i
I
I
il
Li
()
'l
!it
It1;,
'ir
:iLiLt
ii
$'?
i1ii
i,
!
,
3
I U!:rl;:{
i i:!:l ci
i i:r ti ll
: i:i'!!:;
iiiitriii.- ti2,',:.Y ii q:
' ;';. ii ;Y:;: i'l;r
ile1t
R
iFIt6
{I
fl
:
i
nt
4 -.-------i'-]--)w ls{E lMMpwrs PordArdFRrd4r
,b
rdqr6.dMREDnEc*m PERENNhLAED PNTING__
A DECIDUOUS & CONIFEROUS SHRUB PHNTING
v-
{g!
"atrT$i",
oFztiJ
Ft
I
ozo
oo
=t
L
z
d
=
FzU
=4o
Uiog
5U
t
L1.1
T-""ffi
rEi=ry,i.Ft
E
s310N totNf, Not$u3 suotSH No3rvj lo lta slloN dlils
r,..L)rr ,.i.), <.
"l
I
I
I
t:
'',
.' 7::
,' l() ,
::.. !:
: l. ,l
l.
i
",tl:r',r\
if
, ,/.
I
I
I
./,
:t.
t-
I
T>nE
o
ozC'
T
7-t
mz+ah
Itt
€
5
dt
mI,trm
m
5!3mzIoo
!
z
1r1 [ rA
O'LMS
!!
i!
VELAIR
APARTMENTSFAIRWAY COMMONS
168 SRPENTEIR AVE W FALCON HEIGHTS' MN 55] 13
ri'iriiiaii;
j ri:li:
rl!it:
2
s
I!
CN2J
J
I:::f
,l;'t.
I'
il
-lJl
,L
-j
I i\i.iri.i\j i hrlii A"ri'rr
i i.a)i i! l:r ilirffi': :r l
ll
i
i
.
I
ll
i
j
it
i"
l
iiI
I
FII
'j,
36
e6
r
!
l;'+f! !
l,i ti'* u Il.:l FI It{l ti{ !
E i:B
F E EE
t.j E
'*e
silld{t
it
APARTMENTSFAIRWAY COMMONS
14LARPENEUdAlEWFALCONHEIGHTS MN55113t",b,liii?i
[1r'tiiii
?!
EtI
a2J'N
?
I
i
3
4I
I
!
i.-l
!iii
,,!i9t'iit
1Ii
1i1tlli
ili:ti
lii
!'
tI
ii ji lii :' ri '
;l;iitriliii!i;li
it;i:;
li
s
E
lii?iicilii;
;
rl
tl
il,,iiiiii:.
i(:4
ll
lr
h'
ti ti
1a
li
| \,
;iic!: i;i
r? iit
i:
-i
vq
9
sf 10N 10arrc3 Notsou3 3,Jt33ds :xs lrvlNsnladns ffi
Itita *Ait-tf,.!n-i:i:_
s3l!NvnooNv sv3av
ffi ---------------1ffi E-sEnfr l!!i
m!wlFlmffi5F-Mc
T
nE
zcn
T
n-l
mz-ta
mIa
m
m
5
3mzIoo
z
rt[-A
C'tMS
'l
I
NOIVilrorNr S]lOS lNlflnMdds 3Bl!3s 3xs v lEtrHcv1tv
T
v
F
oo
=oza
!
n+
=mz+o
t
mIvIm
m
5!
mzIoo
z
,n[.a
'.
LMS
ANACHMEM S SWPP INSPEdId FMU ANACHMEM C MAIMENNCE ftAN FOR PERMNEM $ORM WAT€RTREATMEM SYSIEM
ffi.F'..i
oFztiJ
Ft
L
oz
o
3d
L
zt
=ooFzu
I
9u
UoE
5U
3I
3
E
ttIt
fi I t-tt
SW1.5
=o
=o
(,CI
GJ
$@
E
I
3
!&!
>!
3
z!
\- =1.:r
*'
I
it
I
)
v1.0
NTE
SAINT
__-.j Mt$.Y-ir r
LARPENTEUR AVE W(couNrY.l,oAD A)
L
,;'t
Fa
olo;3i
uoz:
.j
iiiii;
,:.:\';'::z:: 1''P&2
Llnetvpe & symbol Leqend
,N
o
o "."'.r
I HOLLYWOOD COURT r;---4 7 't.-E
l -.'^'-'.*'-
CITY OF FALCON IIEIGHTS' MINNESOTA
PUBLIC HEARING NOTICE
NoTIcEISHEREBYGIVEN,thatthePlanningCommissionatitsregularmeetingat
7:00 p'm' on March 24,2026,in the City Hall Council Chambers ,2077 W. Larpenteur Ave, will
holdapublichearingtoconsidertheapplicationofVelairDevelopmentCompanyforan
amendment to a previously approved pranned unit Development (puD) for a 110-unit senior
(55+)affordableapartmentbuildinglocatedat|644larpenteurAveW'FalconHeights,MN
551 l3
than
you
The aPPlicationandotherplanningdocumentswillbeavailableuponrequestnolater
March 20,2026'It will also be available on the City's website at www. falconhe i ghts' or g'If
have any questions regarding the public hearing, please contact Hannah Myhren,
community Development coordinator at (65r) 792-7613 or
Dated: March 10,2026
Hannah Myhren, Community Development Coordinator
City of Falcon Heights' Minnesota
78
CITY of FALCON HEIGHTS'iiiiC noeRlNG NorIcE
792-7613 or
79
I, Kayla_kuehjya, being duly sworn on oath, says: that she
ii,-and-during ai-l ti.es trerein state has been, Iniide Sales
Representative of Northwest Publication, LLC., Publisher of
the newspaper known as the Saint Paul Pioneer Press, a
newspaper of General circulation within the City of St. Paul
and the surrounding Counties of Minnesota and Wisconsin
including Ramsey and Kanabec.
That the notice hereto attached was cut from the columns of
said newspaper and was printed and published therein on the
following date(s):
3n2/2026,3^3t2026
Newspaper Ref./AD Number#: {!2E
Client/Advertiser: CITY OF FALCON HEIGHTS
LEGALS
AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITV of FALCON HEIGHTS
PUBIJC HEARIIfi NO|TCE
an
0-
at
AFFIANT SIGNATURE
Subscribed and sworn to before me this
3^4/2026
True Lee
NOTARYPUBLIC
Ramsey County, MN
My commission expires January 31, 2030
Commissiofl 01/31/2030
State of Minnesota
Notary Publlc
Commission No. 1171307900035
Page 1 of 1 80
CITY OF FALCON HEIGHTS
THE CITY THAT 5OAR5!
2077 LorPentaur Avenue W
Folcon Heighis, MN 55113
P:65L792-760O
F:651-792-761Q
March 11,2026
Dear ProPertY Owner or Resident:
Union apartments
The location of this develoPment is PIN 212923 1 10029 and PIN 2129231 10028, to the west of
Amber Union aPartments with a driveway along Larpenteur Avenue West'The building will
include a mix of studio, one,and two-bedroom floorP lans across four stones ofresidential and
one level of underground Parking
The Planning Commission will meet and hold a Public Hearing on this matter on TuesdaY'
March 24'2026 at 7:00 PM at Falcon Heights City Hall, 2077 L*Penteur Avenue West'
Falcon lleightso MN 55113.
, March 24, citY staff will Present information regarding the PUD
During the meeting on TuesdaY
ission will also hear public comment and discuss before
amendment.The Planning Comm
making a recommendation to CitY Council.
The aPPlication and other Planning documents will be available uPon request no later than
FridaY, March 20,2026.ltwill be also be available on the CitY's website. If You have questions
or comments before the hearing' You may contact City Hall at 65 l-7g2'7600 or mYself directlY at
m
SincerelY,
YouareherebynotifiedthattheCityofFalconHeightshasreceivedanapplicationforan
amendment to a previously-appr.ovedPlan;; tnitbevelopment (PUD) for a I l0-unit senior
(55+) affordable apariri"-i, iriroirg, torui"J ut 1644Larpent"ut Ru" \i' directly west of Amber
wwil'fr"-
Hannah MYhren
;;;;;dv Development Coordinator / Planner
wrl.{olconhaights org
81
REGENTS OF THE UNIV OF MN
1OO CHURCH ST
MINNEAPOLIS MN 55455-01 1 O
Occupant
1582 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1590 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1601 LARPENTEUR AVENUE WEST
FALCON HEIGHTS, MN 55113
Occupant
1604 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1611 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1617 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1625 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
COX BUILDING LLC
1639 LARPENTEUR AVE W
FALCON HEIGHTS MN 55113-5763
Occupant
1667 E SNELLINGAVENUE NORTH
APARTMENT 319
FALCON HEIGHTS, MN 55108
G-TWO PROPERTIES LLC
1113060THST
STILLWATER M N 55082-931 O
Occupant
1583 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1597 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1603 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1607 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
421 KOEHLER ROAD LP
1611 LARPENTEURAVE
ROSEVI LLE MN 551 13-5702
Occupant
1618 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1627 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1667 E SNELLING AVENUE NORTH
APARTMENT 206
FALCON HEIGH.TS,. MN 551 08
Occupant
1667 E SNELLING AVENUE NORTH
APARTMENT 323
FALCON HEIGHTS, MN 55108
MN STATE AG SOCIETY
1265 SNELLING AVE N
ST PAUL MN 55108-3003
Occupant
1589 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1598 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1603 LARPENTEUR AVENUE WEST
FALCON HEIGHTS, MN 55113
Occupant
1608 HOLLWVOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1612 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1624 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1630 HOLLYWOOD COURT
FALCON HEIGHTS, MN 55108
Occupant
1667 E SNELLING AVENUE NORTH
APARTMENT 318
FALCON HEIGHTS, MN 55108
Occupant
1667 E SNELLING AVENUE NORTH
APARTMENT 214
FALCON HEIGHTS, MN 55108
82
OccuPant
rc67 ; SNELLING AVENUE NORTH
APARTMENT 21 3
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 210
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 207
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 203
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 1 24
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 1 22
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 325
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 305
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 309
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 223
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 21 2
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 209
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 205
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 201
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 31 1
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLINGAVENUE NORTH
APARTMENT 21 5
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 303
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 307
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 310
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 221
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 21 1
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 1 21
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 204
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 125
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 123
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 208
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 304
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 308
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 225
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 222
FALCON HEIGHTS, MN 55108
83
OccuPant
1667 ; sNELLING AVENUE NoRTH
APARTMENT 317
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 21 9
FALCON HEIGHTS, MN 55108
OccuPant
,'OOZ i SNELLING AVENUE NORTH
APARTMENT 217
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 315
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ i SNELLING AVENUE NORTH
APARTMENT 01O
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 019
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ T SNELLING AVENUE NORTH
APARTMENT 401
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 01 3
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 016
FALCON HEIGHTS, MN 55108
OccuPant
rc67 ; SNELLING AVENUE NORTH
APARTMENT OO7
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 312
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT 313
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ i SNELLING AVENUE NORTH
APARTMENT 314
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ T SNELLING AVENUE NORTH
APARTMENT 316
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 021
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ i SNELLING AVENUE NORTH
APARTMENT 018
FALCON HEIGHTS, MN 55108
OccuPant.lAOZ i SNELLING AVENUE NORTH
APARTMENT 015
FALCON HEIGHTS, MN 55108
OccuPant
r OOZ i SNELLING AVENUE NORTH
APARTMENT 022
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT OO9
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 006
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 220
FALCON HEIGHTS, MN 55108
OccuPant
1667 ; SNELLING AVENUE NORTH
APARTMENT 218
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 216
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 1 1 9
FALCON HEIGHTS, MN 55108
OccuPant
1667 E SNELLING AVENUE NORTH
APARTMENT O2O
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 017
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ i SNELLING AVENUE NORTH
APARTMENT 202
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT 01 1
FALCON HEIGHTS, MN 55108
OccuPant
1667 i SNELLING AVENUE NORTH
APARTMENT OO8
FALCON HEIGHTS, MN 55108
OccuPant
rOOZ T SNELLING AVENUE NORTH
APARTMENT OO5
FALCON HEIGHTS, MN 55108
84
OccuPant
;..t; sNELLING AvENUE NoRTH
OccuPant
i66t ; sNELLING AVENUE NoRTH
APARTMENT OO3
fnf-COf.f HEIGHTS, MN 55108APARTMENT OO4
FALCON HEIGHTS, MN 55108
OccuPant,'OO'E SNELLING AVENUE NORTH
OccuPant,tuiit sNELLING AvENUE NoRTH
APARTMENT OO1
FALCON HEIGHTS, MN 55108
APARTMENT 301
FALCON HEIGHTS, MN 55108
OccuPant
roolt sNELLING AVENUE NoRTH
APARTMENT 114
FALCON HEIGHTS, MN 55108
OccuPantiuilt sNELLING AvENUE NoRTH
APARTMENT 302
fnlCOtt HEIGHTS, MN 55108
OccuPant
i66t ; sNELLING AvENUE NoRTH
OccuPant'tuiit sNELLING AvENUE NoRrH
APARTMENT 1 18
fnlCONl HEIGHTS, MN 55108APARTMENT 306
FALCON HEIGHTS, MN 55108
OccuPantiuilt suelltttto AvENUE NoRrH
OccuPant'ruilt sueutlto AvENUE NoRrH
APARTMENT 023
TNICON HEIGHTS, MN 55108APARTMENT 402
FALCON HEIGHTS, MN 55108
OccuPant,l66' ; SNELLING AVENUE NORTH
APARTMENT 1 15
FALCON HEIGHTS, MN 55108
OccuPantioiit sNELLING AvENUE NoRrH
APARTMENT 117
FALCON HEIGHTS, MN 55108
OccuPantioiit sNELLING A'ENUE N.RTH
APARTMENT OO2
rnr-con HEIGHTS, MN 55108
OccuPantiuilt sNELLING A'ENUE N.RTH
APARTMENT 012
fnlCOtt HEIGHTS, MN 55108
OccuPant
r-uilt s,utLLlNG AvENUE NoRrH
APARTMENT 403
FALCON HEIGHTS, MN 55108
OccuPant,,"uilt sseLLlNG AvENUE NoRrH
APARTMENT 014
FALCON HEIGHTS, MN 55108
OccuPant't-oilt s'urLLlNG AVENUE NoRTH
APARTMENT 120
FALCON HEIGHTS, MN 55108
OccuPantioilt sNELLING A'ENUE NoRTH "
APARTMENT 1 1 3
fnlCOt'l HEIGHTS, MN 55108
OccuPant't-uilt sr.,rLLlNG AVENUE NoRTH
APARTMENT 102
FALCON HEIGHTS, MN 55108
OccuPant'tiiit sNELLING AvENUE NoRTH
APARTMENT 105
FALCON HEIGHTS, MN 55108
OccuPant'tiilt sNELLING AvENUE NoRrH
APARTMENT 108
TNICON HEIGHTS, MN 55108
OccuPantiuoit sNELLING AvENUE NoRTH
APARTMENT 111
FALCON HEIGHTS, MN 55108
OccuPantiuiit snElltt'tc AVENUE NoRrH
APARTMENT 106
FALCdN HEIGHTS, MN 55108
OcbuPantl-oilt sn eLLlNG AvENUE NoRTH
APARTMENT 103
FALCON HEIGHTS, MN 55108
OccuPantiuilt sNELLING AVENUE NoRrH
APARTMENT 112
FALCON HEIGHTS, MN 55108
OccuPant
'
OO't SNELLING AVENUE NORTH
APARTMENT 109
FALCON HEIGHTS, MN 55108
OccuPant't-oilt irurLllNG AvENUE NoRrH
APARTMENT 101
FALCON HEIGHTS, MN 55108
OccuPantiuilt sNELLING AVENUE NoRrH
APARTMENT 116
FALCON HEIGHTS, MN 55108
OccuPantioiit
'NELLING
AVENUE NoRTH
APARTMENT 107
rnr-con HEIGHTS, MN 55108
OccuPanttiilt sNELLING AVENUE N.RTH
APARTMENT 1 1O
FALCON HEIGHTS, MN 55108
85
OccuPant
166? ; SNELLING AVENUE NORTH
APARTMENT 104
FALCON HEIGHTS, MN 55108
OccuPant
i.6? w sNELLING AVENUE N'RTH
APARTMENT 1 37
FALCON HEIGHTS, MN 55108
OccuPant
i66t w sNELLING AVENUE NoRTH
APARTMENT 134
FALCON HEIGHTS, MN 55108
OccuPant
i66tw
'NELLING
AVENUE N.RTH
APARTMENT 131
FALCON HEIGHTS, MN 55108
OccuPant
iuut w sNELLING AvENUE NoRTH
APARTMENT 127
FALCON HEIGHTS, MN 55108
OccuPant
,l66? W SNELLING AVENUE NORTH
APARTMENT 029
FALCON HEIGHTS, MN 55108
OccuPant
i66? w sNELLING AvENUE NoRTH
APARTMENT 239
FALCON HEIGHTS, MN 55108
OccuPant
i6.t w sNELLING AVENUE NoRTH
APARTMENT O4O
FALCON HEIGHTS, MN 55108
OccuPant
i66t w sNELLING AvENUE NoRTH
APARTMENT 236
FALCON HEIGHTS, MN 55108
OccuPant
i66? w sNELLING AvENUE NoRTH
APARTMENT 037
FALCON HEIGHTS, MN 55108
OccuPantiuilw sNELLING AvENUE NoRrH
APARTMENT 133
FALCON HEIGHTS, MN 55108
OccuPanti..t tit sNELLING AVENUE NoRTH
OccuPant
i..t w sNELLING AVENUE N.RTH
OccuPant
i66t iv sNELLING AVENUE NoRTH
OccuPant
i66t w sNELLING A'ENUE NoRTH
APARTMENT 138
FALCON HEIGHTS, MN 55108
OccuPant
i..t w sNELLING AVENUE N.RTH
APARTMENT 136
FALCON HEIGHTS, MN 55108
APARTMENT 130
FALCON HEIGHTS, MN 55108
OccuPant
i66? w sNELLING A'ENUE NoRTH
APARTMENT 233
FALCON HEIGHTS, MN 55108
OccuPant
166? W SNELLING AVENUE NORTH
APARTMENT 126
FALCON HEIGHTS, MN 55108
OccuPant
i66til/ sNELLING AvENUE NoRTH
APARTMENT 041
FALCON HEIGHTS, MN 55108
OccuPant
i.6t w sNELLING AVENUE NoRTH
APARTMENT 237
FALCON HEIGHTS, MN 55108
OccuPant
i66t w
'NELLING
A'ENUE NoRTH
APARTMENT 038
FALCON HEIGHTS, MN 55108
OccuPant
i66t w sNELLING A'ENUE NoRTH
APARTMENT 033
FALCON HEIGHTS, MN 55108
OccuPant
i.6t w sNELLING A'ENUE NoRTH
APARTMENT 139
FALCON HEIGHTS, MN 55108
OccuPant
i..t w sNELLING AVENUE N.RTH
APARTMENT 135
FALCON HEIGHTS, MN 55108
APARTMENT 132
FALCON HEIGHTS, MN 55108
APARTMENT 129
FALCON HEIGHTS, MN 55108
OccuPant
i66t w sNELLING AvENUE NoRTH
APARTMENT 226
FALCON HEIGHTS, MN 55108
OccuPant
i..t w
'NELLING
AVENUE N.RTH
APARTMENT 232
FALCON HEIGHTS, MN 55108
OccuPant
i66t w sNELLING A'ENUE NoRTH
APARTMENT 238
FALCON HEIGHTS, MN 55108
OccuPant
i..t w
'NELLING
AVENUE NoRTH
APARTMENT 039
FALCON HEIGHTS, MN 55108
OccuPant
,' OOZ W SNELLING AVENUE NORTH
APARTMENT 235
FALCON HEIGHTS, MN 55108
OccuPant
''OOZ W SNELLING AVENUE NORTH
APARTMENT 036
FALCON HEIGHTS, MN 55108
86
Occupant
1667 W SNELLINGAVENUE NORTH
APARTMENT 240
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 034
FALCON HEIGHTS, MN 55108
Occupant
1 667 W SNELLING AVENUE NORTH
APARTMENT 229
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 031
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 234
FALCON HEIGHTS, MN 55108
Occupant
1687 FRYSTREET
APARTMENT 17
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 1
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 1O
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 6
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 3
FALCON HEIGHTS, MN 55113
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 035
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 140
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 032
FALCON HEIGHTS, MN 55108
Occupant
1 667 W SNELLING AVENUE NORTH
APARTMENT 227
FALCON HEIGHTS, MN 55108
RANDIWINTER
1683 LARPENTEURAVEW
FALCON HEIGHTS MN 55113-5704
Occupant
1687 FRYSTREET
APARTMENT 16
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 1 3
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 8
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 5
FALCON HEIGHTS, MN 551 13
Occupant
1687 FRYSTREET
APARTMENT 2
FALCON HEIGHTS, MN 55113
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 231
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 230
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT 228
FALCON HEIGHTS, MN 55108
Occupant
1667 W SNELLING AVENUE NORTH
APARTMENT O3O
FALCON HEIGHTS, MN 55108
Occupant
1687 FRYSTREET
APARTMENT 12
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 15
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 1 1
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 7
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 4
FALCON HEIGHTS, MN 55113
Occupant
1687 FRYSTREET
APARTMENT 9
FALCON HEIGHTS, MN 55113
87
OccuPant
1687 FRYSTREET
APARTMENT 14
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 11
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 12
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 16
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 5
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 2
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 8
FALCON HEIGHTS' MN 55113
OccuPant
1703 SAINT MARYS STREET
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 16
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 3
FALCON HEIGHTS, MN 55113
OccuPant
r-OE7 LNNPENTEU R AVENU E WEST
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 17
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 15
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 7
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 4
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 1
FALCON HEIGHTS, MN 55113
OccuPant
17OO FRYSTREET
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 1O
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 15
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 13
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 1O
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 13
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 9
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 6
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 3
FALCON HEIGHTS, MN 55113
OccuPant
1697 FRYSTREET
APARTMENT 14
FALCON HEIGHTS, MN 55113
OccuPant
17OO SAINT MARYS STREET
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 17
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 14
fnlCOt t HEIGHTS, MN 551 1 3
OccuPant
1707 FRYSTREET
APARTMENT 12
FALCON HEIGHTS, MN 55113
88
OccuPant
1707 FRYSTREET
APARTMENT 11
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 9
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 8
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 2
FALCON HEIGHTS, MN 55113
OccuPant
1710 FRYSTREET
FALCON HEIGHTS, MN 55113
OccuPant
1713 SAINT MARYS STREET
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 16
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 1 1
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 7
FALCON HEIGHTS' MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 6
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 1
FALCON HEIGHTS, MN 55113
OccuPant
1710 SAINT MARYS STREET
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 12
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 15
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 1O
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 6
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 3
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 14
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 4
FALCON HEIGHTS, MN 55113
OccuPant
1707 FRYSTREET
APARTMENT 5
FALCON HEIGHTS, MN 55113
OccuPant
1711 SAINT MARYS STREET
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 17
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 13
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 9
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 5
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 2
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 8
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENTT
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 4
FALCON HEIGHTS, MN 55113
OccuPant
1717 FRY STREET
APARTMENT 1
FALCON HEIGHTS, MN 55113
89
OccuPant
1718 FRYSTREET
FALCON HEIGHTS, MN 55113
IH3 PROPERW MINNESOTA LP
PO BOX4698
LOGAN uT 84323-4698
WARNER PROPERTIES OF MN LLP
2011 UPPER ST DENNIS RD
ST PAUL MN 55116'1186
REGENTS OF U OF M
319 1sTH AVE SE
il'r r., rl enpoLls M N 55455-01 79
ANNA SPIEGLER
5201 E RIVER RD STE 308
FRIDLEY MN 55421-1035
LARPENTEUR MANOR LLC
844 GRAND AVE STE 4
Snf ftff PAUL MN 5510s-3376
FALCON HEIGHTS PROPERTY LLC
4505WHITE BEAR PI(WY
i,iHni trnR LAKE MN 55110-3610
1717 FRY COMPANY LP
5201 E RIVER RD STE 308
iln,r.rrnpolls MN 55421 -1 035
BUHL LARPENTEUR WEST LLC
5353 WAYZATA BLVD # 502
ioi*t lours PARK MN 55416-1340
BUHL GTA LP
zaoo larrno Pl0vY STE 300
riobv'neroN MN 55425-1 soe
DAMIAN HANFT
PO BOX 583322
uiu n rnpor-ls, M N 55438-3322
VELAIR DEVELOPMENT COMPANY
ATTN. MARTY O'CONNELL
?irilv'uonLE AvE sourH' srE 3oo
MINNEAPOLIS, MN 55423
90
#
'*'lr'7',,,":::::*l::::^#-1,ff :"ffi ::,lgl:1Ti::[?,*::liT"?ffi '":H't"'
"oun"it'
the Planning ":**tt-t]?l'
would u" urtJt"J[i tn" proposed amendment'
'**dd*rlt'r*P5gggrysry*
ro r a,, " ",-
J i-'o J J "o
u, :" :lll Ti',# tr *: ::I*l*:l *l:,f,3 *l pe rtv o wn ers
am endment inv olves the chan gtn ilil ffit"nt j]un,"h the am endmenr iel ates.
""'"*n""i"$:,t"?Hl;T.iii'i"*iriepropertvtovwithin 350 feet ot tne uuurrss"--
_^- r-oc heen Dfopofly initiated,
n,i#,::.!:r li:4)'l:t,*fitr".ffi;ff #jft j5rl,{n'il:f*igii,ffi
,itt, Plu"t' and PurPose ?*
tl:
;'"'"r::::r,lt*ffi:lry,[4***1ir',t]*i*-,;;;;llil**-1;-'l* auv' u"io'" the date "r!T;;;; r?"i ortr''" t:i;#i;l*,'il'r1,?ll; i; tne noti"e
+*m*:'X:TilLiii:H ;'"J*i1*."r n. -Ti ii; ;,[*p, to comJv hu' b":1' -
,nuu not iin}iJut' 1ne proce^{?,;i"""X11;H:ffiil uni'*" u 'L"o'n*"ndation
tuO"' The Planning commlss
,^,:r'ii"*ii,*l*,,**r:H"T:?:l#fl i.,t;ii,iffi ri:;"3,"il1ru.T1il'l,lJl1:'
has received the recomm:T,::il;ttti"e at whi
first regular Planning comml
considered'
lment to this chapter shall be adopted
(e) Consistency with comp'rehensive plan'No "t"lifil"' " ""'"
which i' in "onni"t
with trt"'tiiv'il"mprehensive plan'
(rrimedeadtine;annrov1t11',^Xl{f;,',"!'i;rr5il11f'Yq,ffi tjsrli*"f #
ror an am endm enr * u'r o' ;:$. j [, in. "* r$i,ri :'ili:[._: 1fr"#,,1.ru:lnr:l1,*:x'"'.',ff 1e:*fi*3,*;';'*'r:il,if:*tffi ",tTliil,*,;;;,h"rr.mme,cia,
majoritv vote of all the Tilffi lru roninggorutt members ot.,tflounrit.part of ihe existing tt^::ll;"i'il irujo'itv uot"
or industrial require a two
(Code 1993' $ 9-15'05; Ord' No' 97-06' 5 l'9'24'1997)
State Law reference - Amendments' Minn' Stats' $ 462357 ' subds' Z - 4'
91
F
can be found at .C
92
a
93
Fairway Commons PUD - Comments fromRamsey County:
From: PW Ptan l,t^u.'""il,, O, 202611 :32 AM
Sent: TuesdaY' Mar
To: MartY O'Connetl'; Hannah q' LJnch
:iir$'lilffilX;llll'"HtLarpenteurAvenue-RowAccess
Marty and Hannah' . -.-r ^ {iarrr view of Larpenteur Ave'' Ramsey
Arter reviewins the trarric studv vou l1'liirtXillllilil' ^""'io
,""' to the east as
;;* ;"u rd n ot_op po se,trilt"3:i!n,
o n r.
proposed ' but with the luttuv"" '.' -- '
^ r:+iarr nr remoV€d. There won't be enough
. r h e c e nte r m e d i a n *i t''1 : : 1l: TI,?' "t*tl..:^", ^:l:'^ljru;X:ililH" t
room for westbound teft turnlnts
,"t"g , a*"-way cl
n]en,,en."o in the trafric tltil- ll#;";;;;" *u.t"v countv'
str a n o r.,'i,'n = ii *"' :1 I ".
"?,i
rfi ?:\""Hiffli"J', :$:: ::"J:11 il Y "
.' RemoVingthe center rn"'q'i1t;l;il;iesotve drt
ff :ffi fiH,'i:: i'{ryru' "' n'' - " t ::i*: :l1ill i*-* ft i ;il" "'
ot
"
o n "'"lJp
Jn ;i'' "H'l':?:'
l:il fffi iJ:: i Xl il ;;; Lu"'n "
p ro p e r d ra i n a ge'
determine how invotved thls \j
R a m s ey co u nty exp e cts th e d eve rop e r to b e f ' l:l :f.:il?rtffi'.'il:' *Tii:*uffioe c o u ntv
,1, p
"
ni. u, -"J?i# i""tX * l;Jl,.x:iJ 3. "
J';'; ; I'u"to p "' wa nt to m ove th e
design requiren
access' o"'r orlestions or want to discuss a course of
Thankyou' and pl'ease contact me if you have any ques
action'
Kevin
Kevin Roggenbuck
(he, him)
$; i;; i'" i' p :':1:"; ;t,|Til,, a n d c o m m u n itv t nv e stm e nt
PubticWorks I Lconrtrt""^L'I. r-o, 8-0138;*;'';;,, -zao'ztge cetr': 612-51 8-t
1 5 west Kel'l'ogg utt7o',' ' 'Ji' ''t
0' st' Paut' MN 55102
94
**1;'iin--:**-ffl*Ifi::.; ;, :rul u
"u
n,
< h a n n a h' mvr"" n @..rJ.
iri,o J.. o m' T.i":;;;; ; E ri k He ru'JLil *o, r. s eyc o u ntym n . sov> ;
Gc: Martyo6onnetrq-*";*n,:ill,;;;;,
Dan D.lln ou- Frores, Lurs<mpacvna@t""T;n;ir-or.utr"."l[ir*."ycountymn -;;1t*t}.IJJ'""r..umn.sov>;
;:15.i'"#'Uiff iliJvesto*ren@"?;#;;;'*T5::;ffffi :li:i''.iu,,i,o,"'@l'.T'.'Ifi;:1fi
t-;q;'-*"*:'m,1"oolr.'ichurchich,.M:lY..l';A'iu",',,"y"ou.ry'i^1]J.'rlll[iil,,"n":t't *,"x$*r#jiggP"'
i:#*'l;t',r,ry;i5;irlri*1*irT;",:r-
<owPtanreview(
< a n d r ew. m u, o,6 tl t t ev c o-u ntvll il]i. oo L a r p e nt e u r Av e'
Subiect: RamsJY CountY Commen
Hannah' ., - -^AarrAlooment of the parking tot at 1644 L€rl;;li.x;
fu ;i$riffif,:iii:frxli'l# : : :$ii.l::;'r:r il "
u" n u'
|Jililihe ptans and offer Tne ru*vr""e
. . n ^nrl rriscussed at our meeting on Mlrch
rrarric,Acc:"::TIl;'l:fi il?iif.:I"TJJ."::"':h',Tiff l*H*t',',tt*"'":"r":";:"xll*r#friff ;::xl'jii[#fi"Hr:#fififi jiii;iliffof Larpenteut out;""';oJurr"o:1"_:n",
and fixes. Rams
i''1:flliJlixl l;JJLi' "
* *'" I 1lll ;; a n d th e *:l l l,:i
n:ru*r""-:'rl":-;n:*i$r*;xi*1*55*iijl[;fi Hff $;l1..,"enterineth" ".:l;';;;ay reduce ca
sewer, both of vr
i"il*:il:rv;::;nlfi ;i:::ffi xnnln::'.ntir*t*ii:$ii::xr-"y*'l
on"'nt"n"nce: Pran c1 '0 showt 'ntt:;;;ilf 'nv
t"T.;';r;.ll , "ountv-no saw cutting oIi"."""i "". Inu constructio" ottl;i:;;"t i"fll-".t, standard incl.udes
shal,r have a note/taner on it t"Il]ii"f6r,i,' bountr
must be Performed to the county's
95
the concrete pavement curb or sidewar,k. Al.t concrete wir,r. be removed to an existingioint
and reptaced to an existingioint' ^^ur Ave Row shal't be restored to co^unty standards'
permittine, nny *oii';;;; 1 " ua rR e nteffi .:?#ilii;"; ;;;; J a re 1 ) co mm e rci a r
:"",""J11"x1,:l'il::::l;: iiH,|jil:Jfi$n'xtili\\3i;;;;;;of 'ihe
access poin'l is
moved ad dition at po'"iiii "'e
*il'[ be requi red'
ThankYou'
Kevin
Kevin Roggenbuck
(he, him)
U;,;;ir"nsportation Ptanner c community lnvestment
il;ildtks I Econ omic Growth-ant
office: 651-266-2;Jt- "tu'
612-518-0138
15west Ket'togg 'lT' stii" 'io' st' Paut' MN 55102
96
2 DRAFT REPORTri
To:
From:
Date:
Subiect:
v:,iil 3i*ilr1h?i$"il? "
P m e nt Associ ate
Y'xHffI",i; I 'iii,lH'l,1ve & co n surta nts' LLc
February 26'2026 a-..^ranr.Ant Traffic study; Falcon Heights' MN
1 644 Larpenteur Avenue Development 1
97
1644 Larpenteur Avenue Development Traffic Study February 26,2026
Page2
EXISTING CONDITIONS
Existing conditions were reviewed within the study area to estabrish current traffic conditions to help
determine impacts associateo with the p.por"o deveropme; ih" "Y?111t'11.::
existing conditions
incruded corecting traffic vorumes, oor"*ilg transportation characteristics, reviewing crash history'
and analyzing interseJion "rpr"itv,
whicn arJ described in the following sections'
ffiffiection turning movement counts were cotected at the following locations on wednesday
February 11,2026, as noted:
oLarpenteurAvenue(cR30)andFryStreet/site.|9c.ess(7to9a.m'and4to6p.m.)e Larpent"u, nulnu" icn goi ano sitvtary's street (6 a.m. to 7 p'm')
The peak hours represent 7:30.to 8:30 a'm' and 4:30 to 5:30 p'm' NOte that historical trafiic data for the
snering Avenue (Hwy 51) and Larpent"ui nu"nue (cR 30) intersection was arso reviewed' Average
dairy traffic (ADT) ;,1# were provid.a il rr,rnooro,. "rtimuteJnased
on the data cotected'
TransPortation Characteristics
observations were conducted within the study area to identiff various tlan.l.gofation characteristics
such as roadway geometry, traffic *fi;l;,-;Led rimits, and*muttimodarfaci*ties' A general overview
iltt""d*"y, *itnin the study area is as follows:
. Larpenteur Avenue (cR 3O)- a 4-rane minor arterial with a combination of dedicated left-turn lanes
and a periodic centeitwo-uray tett-tu;;;;". There is sideia-tr arong both sides of the road' and the
sPeed timit is 35-mPh'
A, other study roadways are2-rane rocar facirities. Each study intersection is side--street stop controlled'
arowing free-flow *ou"r"nt arong l-ar;;"**;"?*" (cd 30). Existing geometrics' traffic controls'
and volumes in tne siuoy area are shown in Figure 2'
Crash Historv
Five (5) years of crash history were reviewed from 2021 throug h 2o2s using MnDo,s crash Mapping
Analysis Toot (MnCMAr), which identified a total "f h; (;) crasnes.tnat ,occurred
at the study
intersections. one crash occurr"o at tn" r-ry sir"et I Si* n""Jr',s intersection when a vehicle pulled out
of the site access in 202r. The other ;r;;i, *u, , p"o"rtrirn-r"rated accident at the st Mary's street
intersection invorving a motorist oisr"g.rding a traffic "ontior.
Neither crash resulted in a fatality or
serious injury. easel on this review,
-th"r" loes not 'ppl'l to be any safety issues from a crash
frequency or severity perspective within the study area'
lntersection CaPacitv
rntersection capacity was evaruated using synchro./ simTraffic software (version 11)' which uses
methods ourined in tne Highway cliiJnv'urnuat, atni iaifion. The software is used to develop
caribrated moders that simurate ooseilJ traffic op"rations-,-a'c-"ount for peaking characteristics' and
identify x"v ,"tril, ,u"n ., intersectioi L;;"i of service trosJ ,.J queues. These modets incorporate
coilected traffic, pedestrian, .no oi"v"ii.iuoiu*"r, traffic contrors, heavy commercial vehicle activity
ti."., nr."t and tiucks)' and driver behavior factors'
98
^3 (7\t 674 (453\f 1',t (12)
7-I'a J+t-
3 (15) J314 il051)=
'l3.850'13,950
Legend
XXX AM Peak HourVolume
PM Peak Hour Volume
Estimated Weekday ADT Volume
Stop Sign
@(XXX'}
rr.xxha
2 Existing Conditionsri1644 Larpenteur Avenue Development Traffic Study Figurre 2
Level of Service (LOS) quantifies how an intersection is oPerati ng. lntersections are graded from
values shown LOS A indicates
1644 Larpenteur Avenue Development Traffic Study February 26,2026
Page 4
signaltiming was Provided bY
LOS A to LOS F, which corresPond s to the average delay per vehicle
that the
the best traffic oPeration, while LOS F indicates an intersection where demand exceeds caPacitY
Overall intersection LOS A though LOS D is considered accePtable in the studY area. Note
Snelling Avenue HwY 51) and Larpenteur Avenue (CR 30)intersection was included as Part
of the model ing to more accuratelY rePresent current operations; existingsignalized
MnDOT
(
Average DelaY / Vehicles
SignalizedUnsignalized
Level of
Service
20 to 35 seconds
1 5 to 25 secondsc
rllirl:; lrlrJi,iiirl
li i,r rr,,l 'i I r'ir'l' 'r')i rrll i
ljL;i , 1;1i 1, i111ril:
ii l) l:. r.:iir'll. r' r' i'l lijli:
Table 1 Existing Intersection CaPacitY
n seconds)delaYServiceof(Level
PM Peak HourAM Peak Hour
Traffic
GontrolLarpenteur Avenue (CR 30)
lntersection A/ c (21)A/A(8)SSSFryStreet / Site Access Al B (12)A/ A (e)SSSSt Mary's Street
SSS - Side-Sfreet-Stop
100
1644 Larpenteur Avenue Development Traffic Study February 26,2026
Page 5
PROPOSED DEVELOPMENT
The ProPosed develoPment,shown in Figure 3, is along the south side of LarPenteur Avenue (CR 30)
between Fry Street and St Mary's Street, which is about 750 feet west of Snelling Avenue (HwY 51)'
The Project is a 110-u nit senior (55+) multifamilY residential develoPment. Construction was assumed
to be comPleted by the Year 2028'
The existing site access along LarPenteur Avenue (CR 30) is offsetfrom Fry Street bY about 50 feet and
approximatelY feet west of St Mary's Street; this access is currentlY also utilized by the adjacent
the existing access is planned to be relocated 60 feet to250
Amber Union apartments'As part of project,
the eastto align with the adjacent drivewaY aisle.This relocated access
direct route for existi
would
ng and
minimize comPlex turning
proposed develoPment
movements within
users. Further discussion
the site and Provide a more
regarding this access is provided later'in this rePort'
Figure 3 ProPosed DeveloPment Site Plan
I
I
a f' *'3' I
LARPENTEURAVE W.
,r1f .f a
101
1644 Larpenteur Avenue Development Traffic Study February 26,2026
Page 6
TRAFFIC FORECASTS
Traffic forecasts were developed for year 2028 build conditions, which represents year of opening. The
traffic forecasts account for general background growth and trip generation from the proposed
development. The following information summarizes the traffic forecast development process.
Background Growth
To account for general background groMh in the study atea, a one-half (0.5) percent annual growth
rate was applied to the existing traffic volumes to develop year 2028 background traffic forecasts.
Although daily traffic volumes have been stable or decreasing over the last 10+ years, the groMh rate
was applied to provide a more conservative assessment.
Proposed Development Trip Generation
A trip generation estimate for the proposed development was created using the ITE Trip Generation
Manual, lZh Edition and includes trips for typical weekday a.m. lp.m. peak hours, as well as daily. The
proposed development, shown in Table 2, is estimated to generate 21 a.m. peak hour (7 in I 14 out),
28 p.m. peak hour (15 in / 13 out), and 360 daily (180 in / 180 out) trips. No multimodal reductions were
included to provide a more conservative analysis.
Table 2 Trip Generation Summary
Land Use Type (lTE Code)Size AM Peak Hour PM Peak Hour DailylnOutlnOut
Senior Adult Housing - Multifamily (252)1 10 units 7 14 15 13 360
Site generated trips, which are illustrated in Figure 4, were distributed to area roadways based on the
global directional distribution shown, which was developed using a combination of existing travel
patterns and engineering judgmenl The resultant year 2028 build condition traffic forecasts are
illustrated in Figure 5. Note that a future no build condition was not reviewed given the relatively short
timeframe between existing and year 2028, as wellas the minimal background groMh anticipated.
YEAR 2028 CONDITIONS
To understand impacts associated with the proposed development,, a future intersection capacity
analysis was completed for year 2028 build conditions. Results of the future capacity analysis, shown in
Table 3, illustrates that allstudy intersections and approaches will continue to operate at an acceptable
LOS D or better during the typical weekday peak hours. Thus, there are no significant operational issues
from an intersection capacity perspective anticipated with the addition of the proposed development.
Further detail regarding the proposed access relocation is provided in the following section.
Table 3 Year 2028 Build Condition lntersection Capacity
Larpenteur Avenue (CR 30)
lntersection
Traffic
Control
Level of Service (delay in seconds)
AM Peak Hour PM Peak Hour
Fry Street / Site Access SSS A/ B (10)AID (32',)
St Mary's Street SSS AtA(7)A/ B (11)
SSS - Srde-Sfreef-Sfop
102
7;
o
::t4
{o) r(0) =(8)
0to)rb (b)
+2OO
2 Site Generated Tripsti1644 Larpenteur Avenue Development Traffic Study Figure 4
103
(7)(458)
(1 e)
e 681'tr 14
7=J a
::t693 (469)4
+
NON
3 (15) J323 iloais)=5(5)r303 (1060)=14 (20\
1 4,1 s014,294
Legend
XXX AM Peak HourVolume @PM Peak Hour Volume
Estimated Weekday ADT Volume
Stop Sign
(XXX)
rx-"xxfio
2 Year zoz}Build Conditionslui1644 Larpenteur Avenue Development Traffic Study Fiqunre 5
1644 Larpenteur Avenue Development Traffic Study February 26,2026
Page 9
ACCESS RELOCATION
As noted earlier, the existing access is planned to be relocated about 60 feet east of its current location
along Larpenteur Avenue (CR 30). This relocated access would minimize complex turning movements
within the site and provide a more direct route for existing and proposed development users. As part
of the capacity analysis, queues along Larpenteur Avenue (CR 30) were reviewed to determine if this
access relocation would impact operations and vehicle storage within the area.
The year 2028 build condition capacity analysis identified the following peak hour 95'h percentile queues
anticipated within the eastbound left-turn lane at St Mary's Street and the westbound left-turn lane at
the Site Access.
- Eastbound Left-Turn at St Mary's Street - 35 feet (i.e., 1 to 2 vehicles)
- Westbound Left-Turn at the Site Access - 10 feet (i.e., -1 vehicle)
With the planned relocation, there would be approximately 180 feet between St Mary's Street and the
Site Access, which is adequate distance to accommodate the necessary vehicle stacking distance for
each movement. However, there is an existing median along Larpenteur Avenue (CR 30) that limits the
ability to provide the necessary turn lane storage for the relocated site access. This median was
originally intended to limit access to / from the eastern driveway of the site to the north, which previously
had direct access to Larpenteur Avenue (CR 30) prior to redevelopm enlin 2012. Thus, there is minimal
benefit to maintaining the existing median in this segment.
To ensure the necessary turn lane storage can be provided for St Mary's Street and the relocated Site
Access, removal of the existing median along Larpenteur Avenue (CR 30) between the Site Access and
St Mary's Street is recommended. ln its place, the existing two-way center left-turn lane striping
currently used to the west of the Site Access should be extended to St Mary's Street. Alternatively, the
median could be modified to provide a continuous median between St Mary's Street and the relocated
Site Access; this configuration would allow for approximately 50 foot turn lanes and a 60 foot taper area,
which would also be adequate to accommodate the anticipated vehicle storage needs. Further
discussion with Ramsey County staff should occur to determine the preferred configuration.
105
1644 Larpenteur Avenue Development Traffic Study February 26,2026' Page 10
SITE PLAN CONSIDERATIONS
A review of the proposed site plan does not indicate any major issues. However, it is recommended to
locate signage and landscaping to avoid creating any sight distance issues and to review truck
maneuverability to limit potential internal circulation conflicts.
CONCLUSIONS
Based on the findings of the study, the following conclusions are offered for consideration.
1) There does not appear to be any safety issues from a crash frequency or severity perspective within
the study area.
2) All study intersections and approaches operate at an acceptable LOS D or better during the typical
weekday peak hours and there are no significant existing operational issues from an intersection
capacity perspective.
3) The project is a 11O-unit senior (55+) multifamily residential development. Construction was
assumed to be completed by the year 2028.
4) Traffic forecasts were developed for year 2028 build conditions, which represents year of opening;
the traffic forecasts account for a A.5o/o annual background growth and trip generation from the
proposed development.
a. The proposed development is estimated to generate 21 a-m. peak hour (7 in I 14 out), 28 p.m.
peak hour (15 in / 13 out), and 360 daily (180 in/ 180 out)trips.
5) All study intersections and approaches will continue to operate at an acceptable LOS D or better
during the typical weekday peak hours; there are no significant operational issues from an
intersection capacity perspective anticipated with the addition of the proposed development.
6) The existing access is planned to be relocated about 60 feet east of its current location along
Larpenteur Avenue (CR 30) to minimize complex turning movements within the site and provide a
more direct route for existing and proposed development users.
7) To ensure the necessary turn lane storage can be provided for St Mary's Street and the relocated
Site Access, removal of the existing median along Larpenteur Avenue (CR 30) between the Site
Access and St Mary's Street and extending the existing two-way center left-turn lane striping is
recommended.
a. Alternatively, the median could be modified to provide a continuous median between St Mary's
Street and the relocated Site Access to allow for approximately 50 foot turn lanes and a 60 foot
taper area, which would also be adequate to accommodate the anticipated vehicle storage
needs.
b. Further discussion with Ramsey County staff should occur to determine the preferred
Larpenteur Avenue (CR 30) configuration.
S) Locate signage and landscaping to avoid creating any sight distance issues and review truck
maneuverability to limit potential internal circulation conflicts.
106
CITY OF FALCON HEIGHTS
RAMSEY COTINTY, MINNESOTA
IN RE:
Application of Velair Development Company'
7645Lyndale Avenue South' Minneapolis' MN 55423'
for Fairway Commons Planned Unit Development
at Ramsey County Property IDs212923110029
and2l2923110028, Falcon lJeights' MN 55113'
FINDINGS OF FACT
onMarch24,2026,theFalconHeightsPlanningCommissionmetatitsregularly
schedured meeting to consider the application of velair Development company '7645 Lyndale
Avenue South, Minneapolis, MN 55423for an amendment to the existing Amber Flats puD' to
be rocated on the vacant rots otherwise known as Ramsey county property rDs212923110029
and2r2g2311002g. The planning commission conducted a public hearing on the proposed
planned Unit Devel0pment (puD) amendment preceded by published and ma*ed notice' The
appricant was present, and the pranning commission heard testimony from arl interested persons
wishingtospeak.TheFalconHeightsCityCouncilnowmakesthefollowing:
FINDINGS OF FACT:
Thesubjectpropertyconsistsoftwoparcels'RamseyCountyTaxParcelIDs
2r2g23rr002g and2r2g2311002g, rocated at the southwest corner of Larpenteur Avenue
andSnellingAvenueinFalconHeights'MNandlegallydesffibedasfollows:
1
PID 212923110029: The East 250 feet of the North 500 feet except the West 150 feet
of the East 160 feet of the North 283 feet of the Northwest quarter of the Northeast
quarter of the Northeast quarter of Section 21, Township29, Range 23, West of the
Fourth Principal Meridian.
PID 2129231 10038: The West 150 feet of the East 160 feet of the North 283 feet of
the Northwest quarter of the Northeast quarter of the Northeast quarter of Section 21,
Township 29, Range 23, West of the Fourth Principal Meridian;
("Subject Property")
2. The Subject Property is currently zoned PUD, with a base zoning of R-5M, High
Density Residential Mixed Use.
3. In March 2026, an application was received for an amendment to the existing Amber
Flats Planned Unit Development (PUD), Section ll3-212 of Falcon Heights City Code,
for an age- restricted apartment building consisting of 11O-units to be located in the two
vacant lots directly to the west of the existing Amber Union Apartments. According to a
review of the plans, the need for a PUD is due to the flexibility from City Code
guidelines that would be required.
4. The Falcon Heights Planning Commission finds this project meets all guidelines in City
Code, except for the following requirements:
(a) According to section ll3-243, the maximum height of a building is four stories
or 40 feet, whichever is less. This project comes in at approximately 45' 6" in
height, and may increase to approximately 49' 6" if ceiling heights are changed to
9'ceilings.
(b) According to Section 113-310, multiple-family dwellings must have at least one
parking space per dwelling unit, with at least 80 percent of the required parking to
be located below grade and integrated into the apartment building. At these
amounts, Fairway Commons would be required to have I l0 parking spaces, with
88 of those located below grade. This project is proposing 116 parking spaces
total, with only 72 of those located below grade.
5. The City of Falcon Heights Planning Commission met at its regularly scheduled
meeting on March 24,2026 to conduct a public hearing and issue a recommendation on
the requested PUD. The Planning Commission voted 7-0 to recommend approval of the
PUD amendment request.
6. A PUD may be permitted in the legislative discretion of the city council. The Planning
Commission and City Council must consider the following general requirements and
standards identified in Section ll3-20l in rezoning property to PUD:
a. A PUD must be consistent with the city comprehensive plan and the intent and
purpose of the City Code provisions relative to land use, subdivision and
development.
Finding: The City Council finds the application and submitted plans to be
consistent with the city comprehensive plan. The proposal provides a public benefit to
the city in the means of new residents, a larger tax-base, and more affordable housing
(City of Falcon Heights - 2040 Comprehensive Plan, Chapter II, Chapter VIII.
b. Whenever joint common open space or service facilities for individual owners or
users are provided within the PUD, the PUD plan shall provide reasonable assurance
of adequate operation and maintenance of such open space and service facilities.
Finding: The project will provide shared open space andfacilities to occupants of
the apartment building. Based on the project narrative submitted as part of the
applicationfrom Velair Development Company, thesefacilities will be adequately
maintained and operated by the development's maintenance and operations staff. The
City Council finds that reasonable assurance has been provided of adequate
operation and maintenance of such open space and service facilities is provided.
c. When a PUD provides for common or public open space, the total area of common
or public open space or security in any stage of development, shall, at a minimum,
bear the same relationship to the total open space to be provided in the entire PUD as
the stages or units completed or under development bear to the entire PUD.
Finding; The City Council finds this requirement to not be applicab,rc. fnr Trtt
PUD will be completed during one stage.
d. Whenever any PUD is to be completed in stages, no such stage shall, when averaged
with all previously completed stages, have a residential density that exceeds 125
percent of the proposed residential density of the entire PUD.
Finding: The City Councilfinds this requirement to not be applicable. The full
P(lD witt be completed during one stage.
e. All development shall be carefully phased so as to ensure that it will not cause an
unreasonable burden upon the city in providing services and utilities or cause a
deleterious impact upon the natural environment.
$
Finding: The City Councilfinds the proposed PUD will be constructed in one
phase and will not place an unreasonable burden upon the city in providing services
and utilities or cause a deleterious impact upon the natural environment.
DECISION:
The Falcon Heights City Council hereby approves the Applicant's request for an
amendment to Section ll3-212 of Falcon Heights City Code, Amber Flats Planned Unit
Development, to be changed to Section Il3-2I3 Fairway Commons Planned Unit Development,
subject to the following conditions:
(a) Trees shall be planted andlormaintained throughout the site as shown in plans
submitted by Civil Site Group,Inc., dated March 2,2026.
(b) Any trees removed due to moving the Larpenteur Avenue curb cut must be
replaced by the developer within one year of curb cut completion.
(c) Snow storage may not be stored in any parking area for more than 48 hours.
(d) Open space as shown on plans submitted by Civil Site Group, Inc., dated March
2,2026, must be maintained as open space and not converted to another use.
(e) Charging stations for not less than four electric vehicles must be provided on
site, at a distance of at least 50' from the building's main entrance.
(0 The building may not exceed four stories, with a maximum height of 50'.
(g) The side yard setback must be as shown on plans submitted by Civil Site Group,
Inc., dated, March 2,2026.
(h) Parcels described as Ramsey County Tax Parcel LDs212923110029 and
212923110028 must be recombined with Ramsey County prior to the start of
construction.
(i) A parking lot maintenance agreement must be signed between Velair
Development Company and Buhl Larpenteur West, LLC for the maintenance of
the parking easement, which dedicates 54 surface parking stalls for Amber Union
c)
(k)
use. A copy must be provided to the City of Falcon Heights and recorded with
Ramsey County.
A property management staffperson must be maintained on site.
Developer shall comply with all recommendations from Ramsey County, City
Engineer, and Fire Marshal.
ADOPTED this 8th day of Apri1,,2026, by the City Council of Falcon Heights,
Minnesota.
CITY OF FALCON HEIGHTS
BY:
Randall C. Gustafson, Mayor
ATTEST:
J Linehan, City Administrator
ORDINANCE NO. 26'03
CITY OF FALCON HEIGHTS_
^RiG;n couNrv, MrNNEsorA
ANORDINANCEAMENDING-{HAPTERl!o-FTHEFALCONTIEIGIITSCITY
c o DE c oN c nnNrN G AMB"i:tiiii pr',lNNniirirlii DEVEL OPMENT
THE CITY COI.INCIL OF FALCON HEIGHTS ORDAINS:
sEcrrqNL':.*;;'1,f ;?13."*1:x",,9;:'.':;ffi:1ffi iffi'-*T#'1ff;TTil"*o'
amended to read as
strikethrough):
Section 113-212 - Fairway Commons Planned (Init Development
(a) Legal description' The legal description of this PUD is as follows:
PID 212923110029: Th: E:* 250 feet of theNorth 500 feet except the West 150 feet
of the guJ rao feet of the *""',,r, itii?et or tne Norttrwest quarter of the Northeast
quarter oitrr. Northeast o""i'"r'"'"i*ion zr' r"*tJttip zg' Ruttgt 23' West of the
iourth PrinciPal Meridian'
PID2|2923110038:TheWestl50feetoftheEastl60feetoftheNorth2S3feetof
.t'. Nonr'*est quarter of tlre Norttreast quarter ;i.h" Northeast quarter of Section 21,
Township 29' Range 23' W""t;;iirtt r""nrt Principal Meridian;
('subject ProPertY")
(b)Purpose.Thepurposeo.fthlFairwayCommonsPlannedUnitDevelopmentistot"' p,ouid" forage-restricted apartments'
,",{,:;,u'i:!tr:,i,1:";:#i;;,.:T"'Ji;IXl;'i#f ilit'Ji:'il*,lJH:T;HllX:1
a.Permitted uses:
feet and 110
One principal structure consistingof 126'329 square
aoartment units'
2. No conditional uses'
t^: |:,i:H:T'Tlii.t:u T *:.ttJ:^nt""' c2
''dated" pi.pur"d by Civil Site Group' tnc'
1
b.Parking. Vehicte parking shall be as follows:
44 surface parking stalls as depicted in the Site Plan dated
prepared by Kaas Wilson Architects.
72 sublevel parking stalls as depicted in the Floor Plans - Level -1
dated prepared by Kaas Wilson Architects.
(d) Development plan. The PUD must be maintained in accordance with the following
development plan, which is on file with the city and which is incorporated herein by
reference.
(1) The following plans prepared by Kaas Wilson Architects and Civil Site Group, Inc.
with up to five percent variance, to not increase nonconformities from City Code, as
approved by the city administrator:
a. Architectural drawings, dated
Architects including:
prepared by Kaas Wilson
l Site Plan;
2. Floor Plans - Level -1;
3. Floor Plans - Level 1;
4. Floor Plans -Level2-4;5. Exterior Materials; and
6. ExteriorElevations.
b. Site development plans, dated
Inc. including:
, prepared by Civil Site Group,
1
2
1.
2.
J.
4.
5.
6.
7.
8.
9.
10ll
12
r3
Removals Plan, Cl.0;
Site Plan, C2.0;
Overall Site Plan & Turning Movement, C2.I;
Grading Plan, C3.0;
utility Plan, c4.0;
Civil Details, C5.0, C5.1,C5.2;
Landscape Plan Ll.0;
Landscape Plan Notes & Details Ll.l;
SWPPP - Existing Conditions, SWl.0;
SWPPP - Proposed Conditions, SWl.1;
SWPPP - Details, SWl.2;
SWPPP - Narrative, SWl.3; and
SWPPP - Attachments, SWl.4, SWl.5.
(e) Additional conditions. The PUD must be maintained in accordance with the following
additional conditions.
(1) Trees shall be planted and/or maintained along throughout site as shown in plans
submitted by Civil Site Group, Inc., dated
Any trees removed due to moving the Larpenteur Avenue curb cut must be replaced
by the developer within one year of curb cut completion.
Snow storage may not be stored in any parking area for more than 48 hours.
Open space as shown on plans submitted by Civil Site Group, Inc., dated,
must be maintained as open space and not converted to another use.
Charging stations for not less than four electric vehicles must be provided on site, at
a distance of at least 50' from the building's main entrance.
The building may not exceed four stories, with a maximum height of 50'.
The side yard setback must be as shown on plans submitted by Civil Site Group,
Inc., dated,
(8) Parcels described as Ramsey County Tax Parcel IDs 2129231 10029 and
212923110028 must be recombined with Ramsey County prior to the start of
construction.
(9) A parking lot maintenance agreement must be signed between Velair Development
Company and Buhl Larpenteur West, LLC for the maintenance of the parking
easement, which dedicates 54 surface parking stalls for Amber Union use. A copy
must be provided to the City of Falcon Heights and recorded with Ramsey County.
(10) A property management staff person must be maintained on site.
(11) Developer shall comply with all recommendations from Ramsey County, City
Engineer, and Fire Marshal.
SECTION 2. ZoningMap. The zoning map of the City of Falcon Heights shall not be
republished to show the aforesaid zoning, but the Clerk shall appropriately mark the zoning map
on file in the Clerk's Offrce for the purpose of indicating the rezoning hereinabove provided for
in this ordinance, and all of the'notations, references, and other information shown thereon are
hereby incorporated by reference and made a part of this ordinance.
SECTION 3. Effective Date. This ordinance is effective immediately upon its passage and
publication.
ADOPTED this 8th day of April,2026,by the City Council of Falcon Heights,
Minnesota.
CITY OF FALCON HEIGHTS
B
Mayor
ATTEST
(2)
(3)
(4)
(5)
(6)
(7)
C
Jack
SUMMARY ORDINANCE NO. 26.03
CITY OF FALCON HEIGHTS
RAMSEY COUNTY, MINNESOTA
AN ORDINANCE AMA,NDING CHAPTER 113 OF THE FALCON HEIGHTS CITY
CODE CONCERNING AMBER FLATS PLANNED UNIT DEVELOPMENT
Pursuant to Minnesota Statutes Section 4I2.19I, in the case of a lengthy ordinance, a summary
may be published. While a copy of the entire ordinance is available without cost at the offrce of
the City Clerk, the following summary is approved by the City Council and shall be published in
lieu of publishing the entire ordinance:
The purpose of this ordinance is to amend Section ll3-2l2 of Falcon Heights City Code,
Amber Flats Planned Unit Development to Fairway Commons Planned Unit Development
to allow for updated plans for the development of a 110-unit age-restricted affordable
housing apartment building.
This ordinance shall be effective upon passage.
APPROVED for publication by the City Council of the City of Falcon Heights, Minnesota this
8th day of April, 2026.
CITY OF FALCON HEI
B
Randall C.Mayor
ATTEST
Jack City Administrator
BLANK PAGE
117
|ELHil^YFJfITS
ITEM FOR DISCUSSION
8 2026
Attachment
Date
Item H-2
See below
AdministratorLinehan,Submitted
WestAvenueApprovAvenue
PurchaseEstateRealaoftionExecutheAuthorizing26-30Resolutionofa1 0and Larpenteurteur4071LarpenforAgreement
Item
of 1 407 Larpenteur Get Pressed have
The City of Falcon Heights and the owner of $300,000.Approval
t the sale of the two parcels for a sum
come to an agreemen on
resolution will begin the next steps ln the sale.of the
Thepropertyhasalonghistory:f::**".cialuse.Mostrecently,itoperatedasadry
cleaner, with cleaning ionductea off-'it"i"fo'u that' dry cleaning activities occurred
on_site under a diffeient operator. g"""
"urrlur,
the site functioned as a fuel station'
and sealed ond"'g'ot'nd 'lotage
tanks remain in place'
As the property has sat vacant since the late 2010s' and the building on site has been
condemned, it has il;;source .r urigr',t to-ih3 lurrounding
neighbgrhoods' and
frequently attracts furniture dumping "";-gtxrm.
The current-owner of the parcels
brought forward."".-"po a tn" pr"rirl^f Jo**irri"n,for consideration rn2022and
2023, ftrstu rz-or-riirr,uit"t rate to*nl"rorrie con "pt and later reduced the concept to
10-units.FollowingtheMPCAPhase.IandPhasellassessments,attemptstowork
with the owner toieceive grant frrrl.*fio .t-""":n the fte have been unsuccessful'
The city u.qoirt rgi;.,"Jnr.i"r,, to facilitate the cleanup with both expedite the
cleanup and ulto*io' gtuut"t grant support from our partners'
k with agencles AS the MPCA,RamseY
1S to wor
Services,and the
such
Council to remediate
DescriPtion
City of Falcon Heights'Minnesota
118
willCiThety
FundGeneral
talBudget
ImPact
LarPenteur
Estate Purchasea Real
Avenue West
MPCA NAD Letter
(')
119
Action(s)
Requested
Staff requests City Council approve Resolution 26-30 Authorizing the Execution of a
Real Estate Purchase Agreementfor'1.407 Larpenteur and 0 Larpenteur Ave W.
120
Docusign Envelope lD: 0AA31716-5F0E-4D51-A878-F85F46580A54
City of Falcon Heights
Planning Application
FOR INTERNAI USE:
Date received:
Receipt:
Action Requested By:
Namei of Property Owner BUHL LARPENTEUR WEST LLC
Phone (h/c)612-968-3728
Address of Property Owner 5353 WAYZATA BLVD, SUITE 502, SAINT LOUIS PARK MN 55416
Name of Applicant (if different)Velair Development Company
Address 7645 Lyndale Avenue South, Minneapolis, MN 55423 Phone 612-243-4623
Property lnvolved:
AddfgSS 1644 Larpenteur Avenue West, Falcon Heights, MN 55113
Legal Descriptigp See attached.
Property ldentification Number (PlN)21 29231 1 OO28 and 21 29231 1 0029
Present Use of Property (check one):
tr Single Family Dwelling
tr DuplexiTwo Family Dwelling
tr Multi Family Complex
D BusinesslCommercial
fl Government/lnstitutional
E Vacant Land [earking Lot]
tr Lot Split ($250.00)
tr Site Plan Review ($100.00)
tr Subdivision (Fee on request)
tr Other (Please Specify)
Action Requested (ttoru-nrruNDABLE):
fl Variance ($500.00)
D Conditional Use Permit ($500.00)
n Rezoning, Zoning Amendment ($500.00)
D Comprehensive Plan Amendment
($sso.oo1
The above Application Fees do not inctude any additional fees that might be required, including legal, engineering,
consulting and additional City seryices. Appticants should meet with City Staff prior to submitting application fo discuss
applicable ordinances, required attachments, timelines and fees.
Credit cetd charges urill incur a it.1% + .$0.30 cr.tnvenience fee.
Brief Summary of Request (applicant may submit letter with details of request):
Velair Development Company is proposing to redevelop the existing parking lot into a four stofit 10-unit age-restricted apartment
building. The Applicant is requesting a PUD amendment to allow for the proposed use.
I ce,rtify that all statements
f-oocus'silod bY.
I trlt\r"^"
Signature of Property Owner (required)
2/26/2026Date:
on this application are true
Signature of
Date: 31212026
t (if applicable)
City Counoil meeting;Planning Commission meeting:DeniedApproved
Docusign Envelope lD: 4CF608EF-5CAD-4838-A760-1 F31 F5DC462D
EXHIBIT A
Leqal Descrintion of PronertY
{To be confirmed by the Commitment.}
PARCEL 1:
The East 250 feet of the North 500 feet except the West 150 feet of the East 160 feet of the North 283 feet
of the Northwest quarter of the Northeast quarter of the Northeast quarter of Section 21, Township 29,
Range 23.
PID:212923110029
PARCEL2:
The West 150 feet of the East 160 feet of the North 283 feet of the Northwest quarter of the Northeast
quarter of the Northeast quarter of Section 21, Township 29, Range 23, West of the Fourth Principal
Meridian.
PID:212923110028
31236393v9
A-1
122
MINNESOTA STATUTES 2025 462.356
462.356 PROCEDURE TO EFFECT PLAN: GENERALLY.
Subdivision l. Recommendations for plan execution. Upon the recommendation by the planning
agency ofthe comprehensive municipal plan or sections thereof, the planning agency shall study and propose
to the governing body reasonable and practicable means for putting the plan or section of the plan into effect.
Subject to the limitations of the following sections, such means include, but are not limited to, zoning
regulations, regulations for the subdivision of land, an official map,aprogram for coordination ofthe normal
public improvements and services of the municipality, urban renewal and a capital improvements program.
Subd. 2. Compliance with plan. After a comprehensive municipal plan or section thereof has been
recommended by the planning agency and a copy filed with the governing body, no publicly owned interest
in real property within the municipality shall be acquired or disposed of, nor shall any capital improvement
be authorized by the municipality or special district or agency thereof or any other political subdivision
having jurisdiction within the municipality until after the planning agency has reviewed the proposed
acquisition, disposal, or capital improvement and reported in writing to the governing body or other special
district or agency or political subdivision concerned, its findings as to compliance of the proposed acquisition,
disposal or improvement with the comprehensive municipal plan. Failure of the planning agency to report
on the proposal within 45 days after such a reference, or such other period as may be designated by the
governing body shall be deemed to have satisfied the requirements of this subdivision. The governing body
may, by resolution adopted by two-thirds vote dispense with the requirements of this subdivision when in
its judgment it finds that the proposed acquisition or disposal of real property or capital improvement has
no relationship to the comprehensive municipal plan.
History: 1965 c 670 s 6
Official Publication of the State of Minnesota
Revisor of Statutes
123
CITY OF FALCON HEIGHTS
PLANNING COMMISSION RESOLUTION
March 24,2026
No.26-01
RESOLUTION FINDING THAT THE ACQUISITION AND CONVEYANCE OF
CERTAIN PROPERTY BY THE CTTY OF FALCON HEIGHTS IS IN COMPLIANCE
WITH THE CITY'S 2O4O COMPREHENSIVE PLAN
WHEREAS, the City of Falcon Heights ("City"; is proposing to acquire certain property located
at 1407 Larpenteur Ave W, Falcon Heights, MN 551 13, consisting of two parcels, including all
of Ramsey County Tax Identification Nos. 152923340061 and 152923340062 (the "Property")
for the purpose of pollution remediation and eventual redevelopment; and
WHEREAS, the acquisition of the Property has been submitted to the Planning Commission for
its review and issuance of a written report of its finding pursuant to Minn. Stat. $ 462.356, subd.
2', and
WHEREAS, the Planning Commission has reviewed the proposed acquisition of the Property as
it relates to the City's comprehensive plan.
NOW, THEREFORE, BE IT RESOLVED by the Planning Commission of the City of Falcon
Heights that the City acquisition of the Property is found to be consistent with the City's 2040
Comprehensive Plan. I
ADOPTED this 24th day of March,2026 by the Planning Commission of the City of Falcon
Heights.
Moved by: -i"Y A C\Approved by:
Brooks
Chair, Planning Commission
ANDERSON
BROOKS
HALLOWANGER
MIAZGA
PAYNTER
SEIFERT
TRACY
-1 In Favor Attested by:
0 Against
.,9
Hannah B. Myhren
Community Development Coordinator
124
1'Theselleristheownergf^t*oparcelsofrealpronerfvlocatedatl40TLarpenteur
Avenue west (prD: iiisittoost) and tlH;ffild;:^\iliiprn' 1s2s23340062) in the
ciw of Fatcon Heights, county of nomsey];i"*" "irr,fin,esota,
irgiilv described as set forth in
ililrui, i?""ir""iit"rv, the "Pioperry"); and
2'ThePropertyisimprovedwitlravacantcommercialbuildingandparkinglot;and
3.TlrePurchaserdesiresto.acquire,andSellerdesirestosell,tllePropertyaccording
to the terms una "o"iiiions set forth in this Agreeinent'
NOW, THEREFORE' ths Purchaser and Sel1er agree as follows:
l.offerandAccepttnce.Inconsiderationofthemutualpromises,covenants,and
agreements ,.t forth i-mgrAment, setter agrees to t"ri^ JnJ titoty to Purchaser' and
purchaser agrees to purchase, fee title " d *o;ilt'rp"r *rr.ir". and conditions set forth in
this Agreement'
z. pronertv Included. The property includes.the land lcgalty dcsc*ibcd in Exhiblt
A, together *i* utiffi;*r*nts and i''i'd','ti'1"' and inte'est in a'nd to any roads' alleys or
rights-of-way "or"ri.#*oi.;,*;Uth:
tunalana *y tut"*""t-t upt"tt""*t'to ttre land' seller
may rcmove urry ,r"rr of personal prop".irlJ fi*tr''*' fi"* ;;; itipttty prior to.closing (as is
defined in secrion 8 of this egr""*rr,l)'1fi;ffi'il";'i"riit i"ti not cause damage to thc
Property i'doing so'
- !n.^-.aa*l ("purchase3 r"ff,flYlf:i"i1l::: lr:l::Price") for the ProP
Thousand and No/10"d;iffi [si6o'ooo'b;; ;;;set shall"pav the Purchase Price via wtre
ftansfer of immediately available noa, u't"'tt" ciorirrg. Th#,i, no eatnest money for this
REAL ESTATE PURCHASE AGREEMENT
THIS REAL ESTATE PURCIIASE AGREEMENT ("Agreement"),is dated as of the
2026 (the "Effective Date"),and is bY and between CITY OF
day of and the SARIN
F'ALCON HEIGHTS,a Minnesota municiPal corPoratron ("Purchaser")
HOMES, LLC, a Minnesota limited liabilitY company ("Seller").
RECITALS
Agreement.
4. Deed and Title'
A,Deed'UponperfofmancebyPurchaser.seJ|ershallexecuteanddelivera
warranty Deed (the ..Deed,),
"onn"yirg'*"'"0^
ii-tt;tklf-; titl" of rccord' subjcct to all
covenants, restrictions, and rights of ,".oiJ, and all 'u"*tni' u"a ugt""*ents of record in
RamseY CountY, Minnesota'
B. Titte Within a *wonfrh time period aftcrffiotirt
I
238730v3 125
Date. purchaser w*r obtain a title insurance commitment for an owner's poricy of title insurance
for the property, *ftirt .it^ff include p'ofti searches "out'**lbutt*Ot"itt' '{ate and federal
judgments and riens, ildilil r"pir,,f^"ti;il;;run"., riri"iit'liriit (the "commitment")'
c ritte obiect s lu,:lTiJ,'*llT,,il:'f;s;lfJilT;'::;T"T,fi.'$:i'31",H;
Co*mil*"nt is received by Putchaser to. c
maner shown o, u,"'iJio*ito.nt *g'ilJToi;il ;"bv ff;.rt rtt"u be a "permitted
Encunrbran"r,,ond"i.otn;Agr**.r, f*t;;*"'-i "tt "f1* 1V 'iJitionut "oto*brances
to be
made against thc pro'plii fr"-"i*.." ift" ffft"iit" Date and the Closing Date'
D'MarketabilityofTitlef|rermustusebgstetlbrtstoprovideml*}abletitleby
the crosing o",., *iir" ';i";rrr,ut se*er iu. ""i p."ria.o *ortrt"ut" tiu" by the closing Date'
eirher parry may a."rr= it i, +g*","'*.t#'ii"iov *'1n"1'"'"iitt tL 'n"
oiher p'arty' in which
case rhis e gr""-"ni'fr "#;"ie,r .,9Ji'n""r" *t":*'1": ;;""-ent cancelled' Purchaser
and setter srru' i,i*;;;[fr-sien " i""J"u"Lion of po'"ttu*" Agteement confirming said
cancellation'
5. Due Dlllgence Pcriod'
A'Exceptasotherwis_e.extendedpuTsuantl..l:termsofthisAgreement,Purchaser
strall have ont' s,[['i*."idu.1.1.". ;;;ilauv ut"''t" Btilt'ine Date of this Agreement
3"Ki;ff "[J-:*,J",i";[T",x#:#,i]#i*]X;;f t*:*i'-#iff "'"J:i:i"'H'
govemmenrat *iJr"il r,""..r'v r;, *il1il"*;''ii"""{ta "t" "tJ t"
'erminate
this Agreement'
'oon w.itren noor-.',o selter-on ", u.it'" 'lt expiration #tht;;t Diligence Period if any
conditions ur" a"#"a-*suti*ru.tory a ilrttt**", ot pottt'tu'er's discretion'
B.DuringtheDueDiligencePeriod,Purchaser.shallhavetheright,atPurchaser's
expense, to *"t""liiJ"nsed engineert ;";;;:-, anOfgr "thd;;lifitd p'oi"t*iottals to make
inspecrions "on."rning
the Property, r"ffi", iti no'.rin'i'"i-"i"ti. "r soils' geologic hazards'
ut'ity lines and ,;;;-,;; ""a i"*ig1i "r"iro'om"ntur
r,**oi''"rrteJrunsaction-contemplated
in
this Agreement is,"o'tingent upon u*"#rr'T n ii,r"trpr"r, *d sole satisfaction of its revrcw
of the foregoing'
C.AnytimepriortoClosing,PurchasefT].,^:*h*izedagentsshaltlravetheriglrt
to enter upon tt "'niop"rty,
at PurchasJr's expense' ror.uoy lawful pulpose' including without
ii*itutio,,*urineJ#;;;:t'.""r'iJf fl1il"H'X**f *'t';---',t::'.i"':".r':
inn"*tigotion l'hat Purchaser pefiorm
properry to substantiaily the same *"1,i* "' t;:;[i:ii".f;;;;;"Jor investisation occurred'
purchaser *tu' puv Lu"h v"ndor p"rro*ine such service{i!"1i?;;;i"'i"'"Jo and shall 'ot
allow any """' 'u"?to'n"t"tn"
pt"p"tty as a result of such servrccs'
D.Purchaseragleesto.indemniff,defendandholdSeller,its.partrrers,offlcers,
directors,,*prffi
";,,1?;41:Tlj?x1'li*:i: j::::*;iffitr"qr!FH,tTt"?:l
;;i"" utt ttui*t' demands.' sults'
-o
costs and expenses (incruding '"u*ol#i"'-on";;i-;
ru"o?i-iiflut or oi resulting from the
2
238730v3 126
Purchaser's or its agents' actions taken in, on, or about the Property in the exercise of the
inspection right ganted pwsuant to this Section 5. Notrryithstanding the foregoing, Purchaser's
liability shall be limited to the lirnits of liability under Minnesota Statutes, Chapter 466, ot any
other limitation on liability applicable at law or equity. This Section 5(d) shall survive the
delivery of the Deed at Closing and/or any termination of this Agreement for a period of one (1)
yeat.
6, Renresentatlons of $eller. Sellel represents, warrants, and covenants with
Purchaser and its successot's and assigns that:
A. That Seller has the requisite power and authority to enter into this Purchase
Agreement and all related closing documents to be signed by it; that the exscution, delivery and
performance by Seller of such documents do not conflict with or result in violation of any
judgment, order or decree of any court to which Seller is a party; such documcnts are valid and
binding obligations of Sellet
B. There are no existing claims, actions, suits or other proceedings pending, or to the
knowledge of Seller, threatened by any governmental departmcnt or agency, or any other
corporation, pirtnership or entity or person whomsoever agaiust Seller or the Property, which in
any manner or to any extent may detrimentally affect the Property or Purchaser's right, title or
interest in and to any part or all of the Property after Closing.
C. Other than Scller there al'e no other tenants or occupattts of the Propefiy.
D. On the Date of Closing there will be no (i) outstanding leases or occupancy
agreements. or (ii) outstanding contracts made by Seller for any improvements to the Property
which have not been fully paid for of for which Seller shall not have madc arangements to pay
o{f, at Closing, or that will affect the Properly or be binding upon Purchaser or upon the Property
subscquent to Closing without Purchaser's written consent; and Seller has caused or shall cause
to be discharged all mechanic's or matcrialmen's liens arising fiom any labor or materials
fumished to the Property that were made at the request of Seller, its agents, or contractot's, prior
to the Date of Closing and any mortgages or other such similar encumbrances.
E. Until the Date of Closing, except as othet'wise provided in this Agteement, Seller
shall maintain the land associated with the Properly in its present condition, reasonable wear and
tear and damage by casualty excepted.
F. Seller is not a foreign person; as such term is defined in Section 1445(f) (3) ofthe
Internal Revenue Code of 1986, as amended, and shall deliver an affidavit to that effect at
closing, which shall be in form and substance reasonably acceptable to Purchaser,
G. To Seller's knowledge, the conveyance of the Property pursuant hereto will not
violate any cunently existing applicable statute, ordinance, governmental restriction or
regulation, or any private restriction or agreement to which Seller is a party.
3
238730v3
127
H. Solely for purposes of satislying tlle r111lments of Minnesota Statutes $
103I.235, Seller certifi;'th';i" the best oibirLi'' knowtidge' there are no wells on or servmg
the ProPerlY'
I.solelyforpurposeso-f:'ati:ryingthetequiremel]sofMinnescrtaStatutes$115.55'
seller cerrifies thar, to;:;;*;l s.1.,-t'rt"3*i"dge' thete i* "o-"indinidual
sewage treatlnent
system" (within tht ;;;i"g "f that statute) on or servlng the Property'
J.TothebestofSeller,sknowledge,sellerrepreserrtsthatmethamphetamine
production has not occured on the Properly'
h---..^
K.TothebestofScller,sknowlerlge,seller.reptesentsthatthePropertydoesnot
have any ,r*",i"*'inf,i'u'. [*,i"i *"*dtffi;? ,'il*t *ln*:lffT:1""ff'"',1$H""fi:
Irini*r"sllimyr:n::1t1",'ru*'ffi ,lT";i;n*rfu{i:"'*:t*';
satisfaotio" tt'ut tr"'i'oq* q::: y: T:;oi:1tH;1T'J, ffii; 'it"' "?"r'"ologicar
sites that
;;i;i grounds, ceremonial earthworlcs' t
#;;"il;obY taa"rut or state law'
L.RepresentationsRe.gardingEnvironmenta.lConditionsoJ'theProp'erty'othertharr
the informarioo tt'u"t i*'i"r"Ju"o.,1 ,rr"ti"ro"r-. n.ri* T"t *o "construction contingency
ptan as prepared S"ni"^U"r-ror^ t*rCigl;;fitiat p'"f'l''=tlS" tp eroO026S5) and the
Remedial r*r"urrlil""'*** r"* *lJir":"ririaozogl, ; Seller's knowledge' no toxrc or
hazardous *ur,*l"J r;;;;;*r, pon rt*t'' or'contamin*tt fii"r"otng' without limitation' urea
form alde hv a", tr'" g1o"p o f o r g ani c" c o- f o*.* k":*"' i:' l :ll"*f:it"l#:*n$ ; i1fi j?=
HIT'i,*fl"JJ-,'-JJ,il';;' |{i fil{*':,::'ilil"*"iJi'**'
Environmentar Response'
Compensarion urri*iffiI e., "i rnii dlceRcl-l')".42-;;';: SS-s6or-ss57' as amended)
have been g"r,"r*d meared, u"r:1,^r^.1;$;;6;t*O.or'it""ttt*ilte placed' depositetl in or
rocatedonthed;il,;;;t*,1::lilylffiH::l,t}"U*'4"1':U"l4fil$':f, H".f,i
r""ilfur. to (i) the ProPertY T b:c(
meaning oq o, otri"*nts"Lring * 1{o.t;i,h* il"''-#il;;nt;'"';;e Consen'ation and
Recovery n.t oi^igr6-(,.RcR4,";, +z'"ui1i, ,{ ungl:1 ';;:;;;y'i-l-11.::t'law
or local
ordinance; (ii) a Llease or threa**J i"r"use of toxic o"i'hururdoos-wastes or substances'
oolrutants * ,on rriinu*s, rrom.ttre.lrip"r*v *i rri" ui-t *$rt "r, bgncre' ol *y similar state
iaw of rorur oraiinn""; or(iir) q. ar*ri"ul of pollutano oi rrri**s into -any
water source or
system, ,n, *"ouiL, "',
H'i"i or "ny'#u:t"ti'
I' [t oi"r'-tgtl"i" irte air -of
anY emissions' that
would require, ;;"il';a^"iir," 5{.Jlir".-, n"ir.,,1"-1cl"r*r art' 33 u's'c' g tzsl' et seq''
or the Cl.uo e#-A,"I, U.S.C. S Z+Oi, rr seq', or ""V *itiii'^il;h or local ordinance' To
i,u.,,, roo*r"je", no sub,tun*"Ug:lttijfi "f "X:*oi :tl,fiil':l''"J:l
claim or cause of action under t
environmentar statutes, regulations, ;i;;or other "n"irJ*."tal
reguratory requirements'
including wittouifimitu]tiorr,.-rp fti,t"'-"i; Envirorunental Response and Liability Act'
Minnesota Stntii"r, drapter 1158. i'it*l''Pi'1, ""J tntfiit"tt"tl p*'oleum Tank Release
Cleanup Att, MT'ilt*oo Stu*'"t' Chapter I l5C'
4
238?3Ov3 128
All of Seller,s covenantso represe_ntations and warranties in this Agre"melt sha' be true as of the
EffecrivE Date and "il; ;;; of closing,"aii';;ii ;;; conditio; precedent to the perfbrmance
of purchaser,s ourrg^iio"* hereunder.
*I;- i*.r,u'"' aitt*ttt that any such covenanto
representatiorl, or *^i;;; r- "", ** p.r"h;r;;;"i"t, t:i"t'.o
-ctoting' in addition to anv of
its other rights and ,.'#id;;';;lirrr"'ert*#,'t, o' P-ur"h**"', ntuv postpone the closine
Dare up to ninery (dft;;"-'to* ,ir"" ;;'Jo;;"tion' trpoi"haser elects. to pTo::"d with the
closing fotlowing.uJrr-Jit rouery, purcha#;;il;;t;*ed to have waived its rights to assert a
claim asain-, s""* "'o"*';;* *- ii"t""*;;;;.thtulness of anv such covenant'
representation, or wafranty'
7- Purchaser'sCqJtti$gsncicr'
ate expressly "ontlttg"t't
upon the tbltowtng:
A. Approval of this Agreement by the Falcon Heights City Council'
B.Purchaserdeterminingon-or.'befoletheexpirationofthsDueDiligencePeriod,
that it is satisfied, in its sole.dio."tiotl*i,tt tt'" results of nratters disclosed by the
environmcnraVengineeri"g inu"rrigu'*iil ;; ;i;; oi tn" Property performed by
C.TherepresentationsofSellcrcontainedinthis-Agreemenfmustbe-truenowand
as of the closi[g Date, as ;;;;; tht ctoJittq Date and scller shall have
delivered to Purchaser oo Tt,* Closing out", a i"rtificate, signed by Se1ler,
certifiing that such ,"p,","n,uii";;;;i*" u* oi u'" Closing Date (the o.Bdng-
down Certificate"), except t"'tfl" "O""t that the tepresentations are uo longer true
and accePtable to Purchaser; and
D.TitletothePropertyshallbeheldbyS"ll:,on'|hcCtosingDate,andshallbefrse
and cleal of all encumb'u"""' ""ttp'the Permitted Encumbrances'
purchaser shalr use commercially rcasonable efforts to satisff each contingency by the end of the
Due Diliger,"" prrioi. ";;h; ,r"tiog.n1i*"'il; oot b""i-*uiirrt"i, iri purchaser's sole
discrerion, o. *uiu*jilv pur"iruro by ,h" l;;;; ,f."ir,"., thit ;s;;;;ent shalt bl null and void
and 'eithcr
parry shall"vh;#ffi;.i; du;;,t,il;;11; oth"t"Th" contingencies set forth in
this section z ur" r* trrJ ,"r" uoa "*-h*;;";;;"ry:l
put"ht'l'' and Purchaser shall have the
richt to waive the contingencies by givi'g^rrotl"* to seller' p'ouiJ"a Purchascr abides by the time
,.!.rit"..nts set forth above'
,^^^ s following
8. Closins' The closing l::tot shall take place within ten (10) day
expiration of the orr;.oirig"r,ce e1g,9 d;'6*i"gi' or^"Date oictoting";' rnt c'losing shall
take place at the "#,;;;iland Title, in,' t"fitfJ Co-ptny'1' ut un i*"to* 'ctosing' unless
otherwise agreed tV rt. parries T y*",r. liCfori"g, Saf"t'"ib p*chaser shall disclose their
Social security N*d;r';; Federal r",."ta*Toi."*,i'N"*u*r r"r rhe purpose of completing
The obligations of Purchaser under this Agreement
Purchaset or Purchaser's agent'
state and t'ederal tax forms
5
23873Ov3 129
e.
",fl,JHr1"J;lii":r"-tt'f
shall execute and/or
deliver to Purchaser {
A.WarrantyDeed.'AWanantyDeedinrecordableformandreasonabiysatisfactory
to Purchaser.
B.Seller,sffid,avit.'.AstandardformaffidavitbySellerindicatingthltonthedate
of closing there are no-ootrtuoaiog, onsuisir.a S.ragmurrtr, -tu*1it"s, or bankruptcies against or
involving seller or d;il;;.r,]["J.0"* ilt il"ti^"" tilril' 1;;;-;trnatedal furnished to the
propefty for.which. p;;;;il tras not u"r" *"j" J, iot *t'i"tt t":i;;'; ti"n* "outa
be firled; and
that there af,e no "'nti'u*t"otdcd
intcrcsts in the Propefty'
C. Non-Foreign Person 'Certification'
A - certification in form and content
satisfactory to the p#Jr-t"r"to *9 trrgll'ffiJi, p'"pt'rv ;;"4 by seller; containing such
information ,, ,r,uri'"u;rl--lili [r ,hr;il;;'R;;4' ;;;;i the regulations issued
thereunder, in ordrr'io?oiii.rr *-.", s"il; ;;;t; "foreign o";;; * otr*ta in $ t++s(0(3) of
s-uch Code und such rcgulations'
D.StorageTanlrs.Ifrequired,anaflidavitwithrespoottostoragetankspursuantto
Minnesota Statutes $ 116'48'
E'WellCertificate.tfthereisawelllo-catedonthePtoperty,awelldisclosure
certificate in form *a-*u6"u"ce true to form for recording'
F.Bring-downCertificate.Acertilrcationthattherepresentationsarul/otwarranties
made by Setier ar? materially th" ,;;;";;;* in "*i't";'o"'ot
the date of this Purohase
Agreement o' notio-g *l 'nuttg"*
to such representations'
G.otherDocu:ments.Allotherdocumentsreasonablydetermilredbveitherparlry
and the tiu" iorur*"" company r" b";;;;;;;;""ttJ;#ouiJ" ntr" insurance for the
ProPertY.
H.Keys.A||keysorotherdevicesneededforthebuitdingoranylockedenclosure
or structure on the ProPertY'
10,
conditions' *d p'ooi"Tfiilffitgreement and the
;;;f;tth d"ve, iurchaser shall:
At Closing and subject t9-F".'t"tt::
p#;t-;; oJv Seller of its obligations as
A. Deliver to Seller the Purchase Price' less any adjustments'
B.Executeand/ordglrlertoSellersuchotherdocumentsasmayberequitedbythis
Agreement u, ut -uy i" ieasonably required by Title Company'
11. *rffi ," 3#;l;t1r:1f,i,ffJ,"*i";";: f;iflslenses
in connection with
the Closing, in an am'
6
238730v3 130
A.Thecostofissuanceofthecommitmentforthetitlepolicy,alongwithtlrecostofthe
premium fb' #;;;"it o*t"t's Title Policy' and any endorsements;
B.TheclosingfeechargedbyTitleCompanyfortlreClosingbetweenSelletandPurchaset;
C.Thecostofengineersorotherconsultants,ifany,engagedbyPurchaserregardingthe" t*""t; att "oiis of recording the Deed; and
D. Real estate taxes as set forth in Section 12 of this Ageement'
If the collective cost of any of the "forg,e1ins
costs, including real estate mxes, exceed $25'000,
the Seller shall pay *rr, "ira" on the ooi'""r"lt"i;;.'"s"il;r sha' atso pay its own attorneys"
fees telated to this transaction'
12, Purchaser shall PaY real estate
taxes on tn, frop.*rylilffiutt of Closing as follows:
A'Prioryears,delinquentrealestatetaxesanddelinquentspecialassessments,if
any, together with penalty' interest and costs; and
B'RealestatetaxespayableinthetEarofclosing,togetherwithanyleviedor
pending special u,,.;;;;;^ **riut'A *itr' ttt* Property ut"'of iht dutt of this Purchase
Agreement, if any, Gffi"*;,; ry"1W., itierest' anilcoit* ot any delinquent installment of
taxes and special "ss#*t"n p"ynLtt in the yeat' of Closing'
If the amount of real estate taxes and special assessments' together with the
'":1T
*tt forth in
Section 13 of this Agreernent, exceeds d;;,ffiru;;;iil Jii fiv such costs on the Date of
Closing.
Seller
warrants that buildings on real ProPcrtY, if any, are entirelY outside of the boundary13.
adjoining
lines of the ProPertY Seller warrants that there has been no labor or material furnished to the
PropefiY for which PaYment has not been made. Selter wan'ants that there ate no Present
violations of anY restrictions relating to the use or improvement of the ProPefi. These
warranties shall survive the delivery of the Deed.
Possession. Selter shall dEliver possessron of the ProPertY to Purchaser on the
14.
Date of Closing.
15. Bemedies'
A.IfPurchaserdefaultsinitsobligationionlo3el|totheClosinginaccordancewith
rhe rerms of rhis Agreement *1 f:il:, ,u "rir"-
such iefault wittrin ten (10) days after being
notified in writing "i;;;;;f""lt, selle*niiit" ""rirred,
as its sole and exclusive remedy' to
terminate tf,is egp"m*li S.tt", ,nuU ooii^ue the right to recover any other damages of any
1
238730v3
131
kind fiom Ptuchaser, or to obtain other equitable acljustment to the terms of the sale of the
PropertY'
B'IfSellerdef.aultsonanyofitsnratefialobligationsunderthisAgreementandfails
to cure such default ;rhi, i;" (10) days urtr, ,:"r"*i"g *iitt"r, t'otice of such default' Purchaser
shall be entitled "- i;;';;i; "t'Jo!t"i"";;;&;to te:rminate init eettt"tenl Purchaser shall
not have the right ; ;;;; any other il;;-";i *v r.ina rto,Jstlltt or to obtain other
rq"fi"tft adjustirentio the tetms of the sale of the Propefy'
16.Brokers-Eachpartyrepr.esentstotheotherthatithasnotengagedanypartyasa
broker in connectioo *itt, the transactt#;;;;;latea uy tt i. egt""tnent' and that no other
commissions are due io any broker. asso"iut"a *itt, tt i. ngr""*"ot' Each-party agrees that it will
indemniff rhe other party irom una. uguinli *v'""o"ii ri"u'ityio *hich seter may_be subjected
by any broker,s, f'il;t];; ri,,,rtuif"";iril;;;p* to the transaction contemplated bv this
A.MinnesotaLaw.ThisAgreementshallbegovemedbythelawsoftheStateof
Mi*esota, and any disputg arising rrorr.iit]."igt""-*ishall be venued in the Minnesota
nirtti", Court in and for Ramsey County'
B'severahility.IfanyprovisionofthisAgreemen!isinvalidorunenforceable,such
provision shalt be G::;'.ii';?.;"111t1;; i. *'*'if the lnnits of enforceabiliry or vatidiry if
feasible; however, ,t:th" off"oding provision cannot o" 'o *oJir"c' it tnon be stricken and all
other provisions of tt is;;;;#ii, ^1 "iui*ptcts shall remain valid and enforceable'
C.Construction,ThecaptionsandheadingsofthevariousParagaphsofthis
Agreement u." tor."orli;;i;"*;y ""d ;; not to be construed as defining or as limiting in any
way the scope oilol"* or,t " proui.ion.:t-"r""1 wt o""er the context requires or permits' the
sinzular shall include the plural, the plural ,r,"ii i""r"oe singular, and the masculine' feminine
^"T"."r* tftall be freely interchangeable'
D.EntireAgreement;ModiJicatior.Thiswritten-Agreementconstitutesthecomplete
agreement between tir"-purt ", *q .,p"rJra"t't"y pti"r oral o? written agteements between the
oarries regarding the property, including"tl*J;;ili" Letter oi Intent exeJuted by the parties on
^March 4,2026. There *" no verbal ug';*o that change it'it e'gtt"*ent and no waiver of
any of its terms *il;;;ile .rnless i-n a writing executed by the parties'
E.NoAssignment,Purcha|:rmaynotassignitsinterestinthisAgreernentwithout
prior written .""rgT;':l'"f'_;llll;'.J"..".t, ,,i"h ,otu"nt shall not be consffued as a
ioo."nt to anv ".i* i1*'r1i :r:nrutigJr:lti{'*,ll i; ;:1-,?l*; #*i' fl:
Agteement. Any transfer or asslgnmen
Agreement.
l7 ' Miscellaneous'
enforceable'
8
238?30v3 132
F. Binding Ellbct. This Agreement shall be binding upon and inure to the benefit of
the parties to this Agreement and their respective heirs or successors and permitted assigns.
G. Time is of the Essence. Time is of the essence for all provisions of this
Agreement.
H. Counterparts; Electronic Signatures, The parties may sign this Agreement in one
or more counterparts, each of which constitutes an original, but all of which together constitute
but one and the same instrument, The parties agree that this Agreement may be executed
elecfi-onic signature of any party on any document related to this transaction, including this
Agreement, constitutes a valid, binding signature. Siguature pages may be elechonically
executed and delivered, including by facsimile, any electronic method complying with the
federal ESIGN Act {e.g., DocuSign) or by wet ink signature captured on a pdf email attachment,
and any signature pages so executed and delivercd shall be valid and binding for all purposes.
I. Survival. All of the terms of this Agreement shall indefinitely sulive the Closing
of this transaction and delivery of the Deed by Seller, and shall be enforceable after the Closing.
J. Notices. Any notice required to be given to Seller or Purchaser pursuant to this
Agreement is given in accordance with this Agreement if it is in writing and if it is directed to
Seller by delivering it personally to an officet of Seller, or if it is directed to Purchaser, by
delivering it personally to the Cify Administrator of Purchaser, or if mailed in a sealed envelope
by United States registered or certified mail, refum receipt requested, postage prepaid, or if
deposited cost paid with a nationally recognized reputable overnight courier, property addressed
as follows:
Seller Sadn Homes LLC
ATTN: Leang Sarin
1693 Ridgewood Lane North
Roseville, MN 55113
Wth a copy to:
Purchaser:
'l'l
City of Falcon Heights
ATTN: City Administrator
2077 Larpenteur Avenue West
Falcon Heights, MN 55113
Wth a copy to:Campbell Knutson, PA
ATTN: Andrea McDowell Poehler
860 Blue Gentian Road, Suite 290
Eagan, MN 55121
Notices shall be deemed e{lbctive on the earlier of the date of receipt or the date of deposit as
aforesaid, provided, however, that if notice is given by deposit, the time tbr response to any
notice by the other party shall cornmence to run one business day after any such deposit' Any
9
238730v3
133
party may change its address for the service of notice by giving written notice of such change to
the other party, in any manner above specified, l0 days prior to the effEctivs date of such change.
18. Incorcoradon of Recitals and Exhibit. The Recitals at the beginning of this
Agreement, and the Exhibit that is attached to this Agrebment, are each one true and correct, and
are incorporated into and made part of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement to be effective as
of the Effective Date first written above.
[Remainder of page lefi blank intentionally. Signature pagefollows.J
238730v3
l0
134
PURCHASER:
CITY OF FALCON IIEIGHTS
SELLER:
SARIN
By
By
Randy
and
By
LLC
Chief Member
Administrator
(sEAL)
J
238730v3
11
EXHIBITA
TO
REAL ESTATE PURCIIASE AGREEMENT
Legal Description of the Property
tr 407 tarpenteu Avepu.e Tygst (PID: I 5292334006 t ).
[iusert legal]
0 Lq$WteurAvenue S{Wt eID: 152y23?40062}
[insert legal]
238730v3
12
136
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
April8,2026
No.26-30
RESOLUTION 26-30 AUTHORIZING ACQUISITION OF REAL PROPERTY
WHEREAS, Sarin Homes, LLC ("Seller") is the fee owner of certain real'properfy located at 1407
Larpenteur Avenue West (PID: 152923340061) and 0 Larpenteur Avenue West (PID:
152923340062)inthe City of Falcon Heights, County of Ramsey, State of Minnesota (collectively,
the "Property"); and
WHEREAS, the City of Falcon Heights ("City") is proposing to acquire the Property for public
purposes; and
WHEREAS, the City Council has received and reviewed the proposed Purchase Agreement
("Agreement") for the acquisition of the Property to be entered into by and between the Seller and
the City; and
WHEREAS, pursuant to Minnesota Statutes 5462.356, subd. 2, the Planning Commission has reviewed
the proposed acquisition of the Property and has found that the acquisition is consistent with the City's
comprehensive municipal plan.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Falcon Heights, Minnesota:
1. The Furchase Agreement is hereby approved.
2.The Mayor and City Clerk are hereby authorized to execute and deliver all necessary documents
to complete the conveyance.
ADOPTED by the Falcon Heights City Councilthis 8th day of April,2026.
Moved by
GUSTAFSON
MAY
MIELKE
MOGEN
WASSENBERG
\a"g{r\
In Favor
Against
Approved
Attested by:5
Randall
Jack
City
238866v1
137
1
'*
APPn AIsAL Fon
OA JACE P RC ELS ONE
LOCATED AT:
l+O7 LIRPEurr,un AvENUE \{ssr
eNO PID 15-29-23-34-O 0^62,
FnrcoN HEtcHTS, MtNNEsor
LnNo ONIY YnrunrtoN wIrs No
CONSTOERATI oN oF ltuPnovr'ivt ENTS
MN F1 EAL Egi TATE
gEFlVICE :r
n 55113
A.PPFl ,\ISAL
DATE OF INSPECTION'
iiiicrlvr vnluArloN DArE:
rinii oi nPPRAIsAL REPoRT:
FILE NLIMBER:
6t3t2025
6t3tzoz5
611817025
+3026
P.O. Box l3lsg2,Roseville'Minnesota 551 13 Phone: 612-618-0917 Web: mnreappraisals'com e-mail: cgoset@comcast'net
138
Date: June 18,2025
Mr. Jack Linehan, City Administrator
City of Falcon Heights
2077 Larpenteur Avenue West
Falcon Heights, Minnesota 551 l3
rvllu FIEALEEiTATE
APPFAISAL SEHVICES
RE: Market Value Appraisal
Two Adjacent Parcels Zoned Bl Located at:
1407 Larpenteur Avenue West and PID 15-29-23-34-0062
Falcon Heights, Minnesota 55113
Land Only Consideration with no Consideration for Current Improvements
Mr. Linehan,
In accordance with your request, we have performed a market value appraisal for the above referenced prop-
erty(s) for the purpose of estimating its potential market value in fee simple interest. The subject property
was last inspected June 3, 2025 which also acts as the effective date of this appraisal. The purpose of this
appraisal is to establish the market value of the subject parcel for internal planning by the addressee of this
appraisal.
The subject property is two adjacent properties. Given the configuration and size of the parcels, the proper-
ties are valued as one parcel. It is not foreseeable, given these restraints, that the subject parcels could be de-
veloped as two standalone lots. Given.this, there is no consideration for value differentials in assemblage
and plottage and the value is for the parcels as one lot.
The subject property is currently zoned Bl, Neighborhood Convenience Business. This zoning delineation
has a significant impact on the overallvaluation of the subject property. Per zoning code, this Bl zoning lim-
its construction to specific commercial usage with a maximum square footage of 5,000 square feet. The
building size limitation limits the land value in regards to financial feasibility.
The subject parcels are noted to have delinquent taxes. This appraisal assumes that all taxes, liens, and/or
other encumbrances are satisfied and are not held to the property as an encumbrances. The main parcel locat-
ed at 1407 Larpenteur Avenue West has a tax forfeiture year noted as 2028 with a total delinquent tax
amount of $6,074.90. The adjacent parcel PID l5-29-23-34-0062 has a noted tax forfeiture year of 2025 with
a total delinquent tax amount of $14,985.72.The status of the forfeiture is unknown to the appraisers. The
valuation herein does not account for any taxes that are due.
The subject property has been identified as containing contaminated materials. Per the report supplied by
Bay West dated November 22,2024.\n March 2024, Bay West completed a Phase I Environmental Site As-
sessment for the Property. The Phase I revealed recognized environmental conditions (RECs) in connection
with the Property's historical land use as a gasoline filling station and dry cleaner and recommended Phase II
sampling and testing. Due to the potential redevelopment of the site, which would involve soil disturbance,
the MPCS requested that Bay West prepare a Phase II SAP, complete a Phase II ESA and follow-up Remedi-
al Investigation (RI) at the Site, and prepare a site-specific RAP/CCP. The purpose of the scope of work was
to assess the Site for environmental concerns associated with historical site use and to develop a RAP to ad-
dress identified contamination. Given the extent of the contamination, the total cost of remediation, as speci-
fied in the November 2024 report was $367,807, rounded to $370,000 for the context of this appraisal.
jF/dt"
P.O. Box 131592, Roseville, Minnesota 55 1 l3 Phone: 612-618-0917 Web: mnreapnraisals.com e-mail: cgoset@comcast.net
139
l\tl hl Fl E /q L E €t a-/Aai E
/A\. Fr F Ft..A\ l g A L_ S E F:l \,/ | C E=
The buildingsize limitation due to the subject's zoning and the known cost to remediate the site are considered
significant influences on the potential market value. Should any of these significant influences on value change
the appraisers reserve the right to revisit the valuation herein and will most likely change the potential market
value.
Thus, consideration of the subject's current zoning, the cost of contamination, and the other factors affecting
value we find the subject property has a market value of:
Three Hundred Thousand Dollars
$3oo,ooo
The value noted above is based on the market value of the land which is limited to the economic feasibil-
ity limit on construction of 51000 square feet less the rounded cost of remediation. Past due real estate
taxes were not calculated or factored in for this analysis.
The opinion of value as expressed in this report is predicated on the definition of market value for the fee sim-
ple interest in the property as defined in a section of this enclosed report. A legal description is included in this
report. This value presumes that special assessments, liens and other encumbrances, if any, are to be paid by
the seller prior to transfers of the title. The report's analysis and conclusion is contingent upon the limiting
conditions included within this report.
The following written report presents the findings, analysis, and conclusions of this appraisal. We have made
an inspection of the subject property and have identified the real estate to the best of our ability in our written
report. The report is based on information and data that has been obtained from a variety of sources which are
thought to be reliable and relevant. This appraisal report is a summary appraisal. It contains a description of
the property and a summary of significant factors affecting the subject market value, special conditions, ad-
verse conditions or any extraordinary assumptions affecting its value, the methods of valuation, all applicable
approaches to value and the reconciliation to the final value if appropriate. This appraisal assignment is not
based upon a minimum or specific valuation.
To the best of our knowledge this appraisal has been completed in both compliance with and conformance to
the Uniform Standard of Professional Appraisal Practice (USPAP), federal banking regulations and reforms as
set forth by the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), and the Code of
Professional Ethics of the Appraisal Institute. Information in this report was gathered from sources believed to
be reliable, but is not guaranteed.
The appraisers who signed on or contributed to this report have the necessary and requisite experience in prop-
erty type and geographic area to competently complete their various assignments throughout this appraisal as-
signment. We trust the data provided herein is clear to the reader. Should any party to the valuation have any
questions on the data or its interpretation, do not hesitate to contact us.
Thank you for the opportunity to provide a service.
Yours ly,
berly Block Clarke T
ident Appraiser Certified General Appraiser
Appraiser, MN License #20542831 Appraiser, MN License #4002042
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net ll
140
MINNES.TA REAL ESTATE APPRAISAL SERVI.ES, LLc - CLARKE T, G^SET, PNNCIPAL
INDEX
Method of Engagement
Description of the Appraisal Format
Executive SummarY
DescriPtion of Subject ProPertY
MarketData
Land Residuat Discussion
Market APProach
DemograPhics
Qualifications
1
2-3
4-20
2l-56
57-92
93-95
96-116
1 17-1 19
120-r2l
P.O.Box 131592, Roseville, Minnesota 551 13 Phone: 612-618-0917 Web:cgoset@comcast'net
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINC]PAL
METHOD ENGAGEMENT
This appraisal office was contacted by the addressee of this appraisal. The purpose of this appraisal
is for estimating the market value for internal planning. No other noted usages or users. This apprais-
al office performed an appraisal per this request. This appraisal office has not previously appraised
the subject property.
1
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreaporaisals.com e-mail: cgoset@comcast.net
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC ' CLARKE T' GOSET' PRINCIPAL
DESCRIPTI ON OF APPRAISAL F ORMAT
The Procedures in preparing this type of an appraisal report' can be divided into five basic areas:
1. Through insPection of the ProPertY
2. Collection of Pertinent data
3. AnalYsis of the Process
4. Conclusion of value
follows:
1. As a Place to live
2. As a Place to eam a living
3. As an inVestment
this valuation'
5. PreParation of rePort
An appraisar report shourd responsibry and accurately identify and anaryze the sources of value in each
properry being "oo;'ir';:v;;;
* ,ia""i."r.".*i'rouarv ;: ffi;;;il"anthree areas' which are as
The first portion of this appraisar,report wilr incrude delgrintive data related i:.?*"othip' property ad-
dress, regar description, taxes and ,p."iui"*r.s-sments (tf *y;, ;rirs-*^a.*iliues' site description' the
hiehest and best o" oithe propertv' *t il;'"""il *i ll'f;;i;ffi of the tvpe'otvalue that will be
ffiffi :,rTff :r,H?rft ',illil'trff#;**mn:**;xnrn:*i*?]ffi il jHil'
ili;;op"".ry *'ai i' being aPPraised'
rhe13x,r"*:l$:;'i'.:il.'J,*:TfJ$"#,il'Jil#i;fr:trifffff*^::FJ"*#f''"ff"'"T'fi
lized in the aPPratsa
structiorvrepr"..*.ii,""nnrl".n, *o ,rt.il?"*t upp'ou"h' bnly the market aptr
The Market Approach w*r be .priv._! by a comparison analysis of sales of similar improved proper-
ries adiusring each sate for marker o."oJtt:;*r,"J"i#t;J;til;' available municipal utilities'
*i," f"u*t"s, and demand factors
The Replacement Cost Approach is an analysis o| 9. *,,'^:f land as unimproved or prior to the con-
strucrion of the buirding *d i*prou.*J,rri.'rrris is based J'#;;;;;;frttt" subject land to other
similar unimproveu"il?ffiil;tp.r",l. *i, ""r". ir ?i;;t,"'.he estimated cosr of constructns
the improvements t"'litt" ""uit
*a atot*i"il* tt'ut *uy have occurred'
1P.O. Box 131592'Roseville'Minnesota 55 1 13 Phone: 612-61 8-091 7 Web: mnreaPPraisals'com e-mail : cgoset@comcast'net 2
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.ARKE T. G)SET, PRINCIPAL
DESCRIPTION OF APPRAISAL FORMAT
The Income Approach will be utilized by the estimating gross income, expenses and net income which
will be capitalized by an overall rate that will reflect economically, a value range that is passed to the
subject's ability to produce income.
After the completion of these approaches, they will be correlated into a final conclusion or opinion of
market value of the property as of the date of the appraisal.
The last section of this appraisal report is supporting data for the conclusions and values utilized within
the report. This section includes pictures of the subject properly, salient data of the comparables utilized,
regional and community demographics, and economical profiles of the subject area.
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 3
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
EXCI]TIVE SLIMMARY
Marketing Time/Exposure Time
6months-1 year. There is no known differential in the marketing time and exposure time.
As required by the Federal banking regulations and reforms set forth by FIRREA. Marketing
time is the time period needed to sell the building. A number of economic forces effect marking
time such as the number of competitive listings in the area and the availability of financing.
Valuation of the subject site is based on cash equivalency market value. The marketing time
fames assumes "typical" market terms, which would include average current mortgage rates with
average points, a65%-75% loan-to-value ratio, and sales commissions of 60/o-70/o of the total sale
price. The primary market area would be assumed to include the nine-county metropolitafi area.
Purpose of the Appraisul
The purpose of this appraisal report is to estimate the probable market value of the fee simple in-
terest in the subiect real estate, in accordance with the appraisal policies and procedures set forth
by the intended users of this report. The opinion of market value is stated in terms of cash or fi-
nancing equivalent to cash. This appraisal is NOT for the potential encumbrance of the sub-
ject property. This appraisal is for internal planning only.
Function of the Appraisal
The function of this appraisal is to provide the intended user of this report with a valuation esti-
mate which, per instructions, is to be utilized in internal planning.
Five Year Sales History
The information noted below is for both parcels. Per information supplied by the Regional Multi-
ple Listing Service the property, at the time of last sale, was still an operational drycleaner with
four years remaining on its lease. The lease terms are unknown to the appraisers and it is un-
known if the lease was at, above, or under market rates.
Effective Date:
Date of Inspection:
. CEETIFICAIESOFREALES'ATYALUE
CSEV Sal6 Dste Buyar l.lame
O?f,10/J018 Serln Hme LlC
01/10/2006 DrHoldlng. LLC
June 3, 2025
June 3,2025
Deed T19o
Othor
CFIEV Sela Prlca
r23s,ooo
92t101000
CFEV S
847l}71
esg5g
CREV ID
{7S2386
urtag
1
P.O. Box 131592, Roseville, Minnesota 55 113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 4
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G)SET, PRINC]P,41
EXCLITIVE ST]MMARY
Address 1407 Larpenteur Avenue West and PID 15-29-23-34-0062
Falcon Heights, Minnesota 55113
County Ramsey
Parcel Identifi cation Number | 5 -29 -23 -3 4-006 1 and I 5 -29 -23 -3 4-0062
Fee Owner Sarin Homes LLC
Assessor's Market Value Total: $180,100
Estimated 2023 Payable 2024 Land: Sl27 ,30015-29-23-34-0061 Building: $52,800
Taxes: $5,170
Assessor's Market Value Total: $78,000
Estimated 2023 Payable 2024 Land: $015-29-23-34-0062 Building: $78,000
Taxes: $2,550
Zoning:
Comprehensive Plan:
B- 1 Neighborhood Convenience District
Limited Business
Highest and Best Use
"As Unimproved"o'As Improved"
The subject's current zoningstrongly influences the highest and best
use. The subject is cunently improved but given the condemnation on
the site and the condemned nature of the building, the subject is con-
sidered vacant and is not analyzed as improved.
Considering legal restrictions, physical site attributes, and financial
metrics, the highest and best use of 1407 Larpenteur Avenue W is to
develop a new, single-story, -51000 sq ft neighborhood-serving re-
tail/restaurant buildin g-ideally with a drive-through component-
positioned to capture both campus foot traffic and regional vehicle
counts. This use is the most profitable and aligns with Ealcon Heights'
neighborhood convenience objectives.
The development of a 5,000 square foot building is considered an un-
derutilization of the land and the land value is considered hindered be-
cause of this constraint.
1
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 5
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINCIPAL
EXCTJTIVE STJMMARY
Valuation Conclusions
Cost Approach
Market (Sales) Approach
Income Approach
The subject site is considered vacant unimproved land
with no formalized development plan. Thus the only val-
uation utilized herein was the market (sales) comparison
approach to value. The other two approaches are not con-
sidered to offer creditable indices of value.
Opinion of Market Value $670,000 -$370,000 (remediation) : $300,000 value
FF&E/Business Value Included None Considered
Hypothetical Conditions Utilized None
Extraordinary Assumptions Utilized None
Property Rights Appraised Fee Simple Interest. There is no known lease associated
with the subject parcel.
Intended Use The intended use of this report is to assist in internal es-
tate planning.
Client Mr. Jack Linehan, City Administrator
City of Falcon Heights
Intended IIser Mr. Jack Linehan, City Administrator
City of Falcon Heights
Date of Engagement 511212025
Effective Date of Appraisal 61312025
Inspection Date 6131202s
Report Date 611812025
Report Format Appraisal Report
Appraiser(s)Clarke T. Goset, Certified General Appraiser 4002042
Kimberly Block, Resident Appraiser 20542831
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 6
14
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINCIP.4L
EXCUTIVE SLIMMARY
USPAP Compliance
This appraisal report conforms to the Uniform Standards of Professional Appraisal Practice
(USPAP) as set forth by the Appraisal Foundation.
Property Rights Appraised
The subject real estate will be apprised by estimating the market value of the fee simple interest
of the real estate. For use in the report, the market value for the fee simple interest in the real es-
tate is subject to the following definition: "The fee simple interest is an absolute fee; afee with-
out limitations to any particular class of heirs or restrictions, but subject to the limitations of em-
inent domain, escheat, police power, and taxation. An inheritable estate".
Client and Intended User of this Report
The addressee is the intended user of this report. The appraisers have been requested to offer an
opinion of the market value of the referenced property. This appraisal is not to be distributed to
other then the client and the intended user of this report without consent of the signing appraisers
of this report.
Scope of Work
Defined as the amount and type of information researched and the analysis applied in an assign-
ment. Scope of work includes, but is not limited to, the following:
The degree to which the property is inspected or identified; The extent of research into physical
or economic factors that could affect the property; the extent of data research; and the type and
extent of analysis applied to arrive at opinions and conclusions.
An appraisal is a process of estimating the market value of real property, as defined herein, as of
a specific date for the interest specified in the report. Information provided by the client is not
generally verified, but is believed to be correct and reliable. Legal descriptions, community
and neighborhood, site and tax information are generally gained from public records or published
sources as well as from individuals believed to be familiar with the area. The plat is gained from
the public records unless a survey is provided.
All possible appraisal techniques are not necessarily used, only those believed to be most appro-
priate for this type of property. The appraisal techniques used are considered those more appli-
cable in this appraisal process and are intended to meet or exceed the standards, ethics and rules
of the Uniform Standards of Appraisal Practice.
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 7
1
MTNNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . C'LARKE T. GOSET, PRINCIPAL
EXCLITIVE SLIMMARY
Comparable property data is confirmed with a party familiar with the transaction and/or public
records as reasonably possible. Research and information of this type is usually limited to one
source, unless reasonable doubt is experienced. Accuracy, of course, cannot be guaranteed. Ana-
lytical conclusions are only those of the appraisers signing the report. The value estimated of the
subject property is made giving full consideration to the various factors affecting value.
The appraisal is intended for persons, or firms, familiar with real estate and real property, and
familiar with appraisal terminology, methodology and reporting. If any questions arise about the
appraisal, its use, terms, scope, research, or analyical methodology used, the signing appraisers
should be contacted.
The intended users of this report are identified as sophisticated in real property analysis and such
a summary appraisal is deemed adequate. The intended use of this report is for the addresses on-
ly, as the sole user of this report.
Highest ond Best Use
The Highest and Best Use, as defined by various publications of the American Institute of Real
Estate Appraisers and the Society of Real Estate Appraisers is considered as follows. The four
stages of analysis and the subsequent tests are, in our opinion, pertinent to the current require-
ments placed on the professional appraiser.
"the most profitable, likely use to which a property can be put. The opinion of such use may be
based on the highest and most profitable continuous use to which the property is adapted and
needed, or likely to be in demand in the reasonable near future. However, elements affecting val-
ue which depend upon events or combinations of occurrences, which are not fairly shown to be
reasonably probable should be excluded from consideration. Also, if the intended use is depend-
ent upon an uncertain act of another person, the intention cannot be considered".
'oThat use of the land which may reasonably be expected to produce the greatest net return to
land over a given period of time. The legal use which will yield to the land the highest present
value, sometimes called'optimum use"'.
In estimating the highest and best use, there are essentially four stages of analysis"
1. Possible Use: To what use is it physically possible
2. Permissible Use (Legal): What uses are permitted by zoning and deed restrictions
3. Feasible Use: Which possible and permissible uses will produce any net return
4. Highest and Best Use: Among the feasible uses, which use will produce the highest net return
or the highest present worth.
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 8
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL,4RKE T, G)SET, PRINCIP,4L
EXCUTIVE SLIMMARY
The highest and best use of the land (or site), if vacant and available for use, may be different from
the highest and best use of the improved property. This will be true when the improvement is not
an appropriate use and yet makes a contribution to the total property value in excess of the value of
the site.
The following test must be passed in determining the highest and best use"
1. The use must be legal
2. The use must be probable, not speculative or conjectural
3. There must be a profitable demand for such use and it must return to the land the highest net
return for the longest period of time.
Following is a discussion on the Highest and Best Use of the subject property. For this analysis the
subject is assumed remediated from the known contaminants.
Site & Market Context. Location: On LarpenteurAvenue just west of the University of Minnesota's St. Paul campus,
within a commercial strip of neighborhood-serving businesses..' Size & Shape: Approximately 21,898 sq ft (0.50 acre), regular, generally square corner lot; 91
ft of frontage on Larpenteur Ave.. Zoning: B1 - Neighborhood Convenience Business; allows retail, office, personal services, and
certain eating/drinking establishments.. DevelopmentConstraints:
o Maximum building footprint 5,000 sq ft
o No residential uses permitted under current code
o SiteCharacteristics:o Medium traffic count (15,000-20,000 vpd)o Moderate transit access (city bus lines)
Proximity to university-steady student/staff pedestrian fl ow
2. Legally Permissible Uses
Under 81 zoning, permissible uses include:. Retail/Convenience: Coffee shop, quick-service restaurant, neighborhood grocer, pharmacy
. Professional Office: Medical/dental clinic, financial institution, general offices
Personal Services: Salon/barber, fitness studio, dry cleaner
Drive-through components are permitted with conditional use approval, but overall floor area may
not exceed 5,000 sq ft.
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 9
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . :'L.ARKE T. G}SET, PRINCIP,4L
EXCT]TIVE ST]MMARY
3. Physically Possible Uses
Given the lot's size and shape, the following are practical:. Single-story building up to 5,000 sq ft with surface parking for -20-25 stalls (per Falcon Heights
parking standards)o Drive-through lanes along the side or rear yard, provided stacking and service areas meet city
setback requirements
Pedestrian plazalamenity at the corner to capture foot traffic from campus
Topography is flat, utilities are in place, significant environmental or easement constraints are known
are considered remediated for the analysis herein.
4. Financial Feasibility Supported by Income Approach. Residual Land Value: $662,500 (based on a 5,000 SF rental building generating $99,750 NOI,
capitalized at 6 Yo,less $1,000,000 construction cost). Implied Land Value per Buildable SF: $662,500 -: 5,000 SF: $132.50 /SF. Income Drivers:o Rental rate at $30/SF yields stabilized PGI of $150,000o Assumed 5 Vo vacancy and 30 o/o expense ratio
Supports a neighborhood-serving tenant mix with strong demand from student and residential mar-
kets.
5. Maximally Productive Use
Balancing allowable, possible, and most profitable:. Primary HBU: A small, single-tenant quick-service restaurant (with drive-through) or cafd-
serving both student and neighborhood markets.
Alternative HBU: A multi-tenantretaiVoffice flex building (3-4 units of -1,200 sq ft each) offering a
mix of coffee, bakery and professional services.
These uses optimize pedestrian and vehicular exposure, comply with zoning caps, and deliver top-tier
returns given current lease rates and development costs.
6. Conclusion
Considering legal restrictions, physical site attributes, and financial metrics, the highest and best use
of 1407 Larpenteur Avenue W is to develop a new, single-story, -5,000 sq ft neighborhood-serving
retaiUrestaurant building-ideally with a drive-through component-positioned to capture both
campus foot traffic and regional vehicle counts. This use is the most profitable and aligns with Falcon
Heights' neighborhood convenience obj ectives.
Any redevelopment must be limited in footprint (<5,000 SF), orient active uses toward the street, tuck
parking to the side or rear, and incorporate pedestrian, bicycle, and stormwater-management ameni-
ties. Drive-through facilities require a conditional-use permit and careful site planning to com-
ply with access-management and pedestrian-friendly goals.
P.O. Box l3l5g2,Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreapnraisals.com e-mail: cgoset@comcast.net l0
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G)SET, PRINCIPAL
EXCTJTIVE STIMMARY
Highest and Best Use analysis with consideration of the city of Falcon Heights Comprehensive Plan.
2. Future Land Use Designation
On the Plan's Future Land Use Map, the Larpenteur Avenue corridor-including 1407 Larpenteur Av-
enue-is designated "Neighborhood Commercial" / "Neighborhood Mixed-Use." This category is
intended to:. Encourage small-scale, pedestrian-oriented retail, service, and office uses at street level. Allow limited upper-story residential or office uses to create a more continuous "main street" en-
vironment
Promote redevelopment sites of up to roughly 5,000 SF per building footprint, consistent with B1
zoning limits
Thken together, the Comprehensive Plan steers 1407 Larpenteur Avenue toward a compact, pedestri-
an-friendly commercial development up to 5,000 SF--ideally a single-story or modestly stepped
building with active ground-floor frontage, limited surface parking to the side or rear, and enhanced
pedestrian/bicycle facilities. Any proposed use or site plan should demonstrate compliance with the
Corridor Study recommendations and Citywide design and sustainability policies.
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net I I
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'L.4RKE T G)SET, PRINC,IP.4L
EXCTITIVE SLIMMARY
Property Rights Appraised
Real property includes all interest, benefits, and rights inherent in the ownership of the physical re-
al estate. The right or interest in the real estate is also referred to as an "estate". The owership rights
include the right to use real estate, to sell real estate, to lease real estate, to enter it, give it away, or
chose to exercise all or none of these rights.
It is possible to own all or a portion of the rights of the real estate and the extent of owership deter-
mines the kind of interest or estate that is held. A person who owns all the property rights is said to
have fee simple title. A fee simple estate implies absolute fee, free of limitations to any particular
class of heirs or restrictions, but subject to the limitation of eminent domain, escheat, police power
and taxation.
Partial interest in real estate are created by selling, leasing, or otherwise limiting the rights in a fee
simple estate. A lease fee estate is an owership interest held by a landlord with the right of use and
occupancy conveyed by lease to other; the right to the lessor and leased fee are specified by con-
tract terms contained within the lease. In the appraisal income -producing properties which are
subject to long term leases, the lease fee estate is the most frequently valued property interest.
The subject property is vacant unimproved land. There is no land lease nor other interest or limita-
tion known to the appraisers and as such, the property rights herein are considered to be fee simple.
Market Value Deftned
Market value as defined below is mandated by the Interagency Appraisal and Evaluation Guide-
lines as published l2ll0l20I2
The most probable price which a property should bring in a competitive and open market under all
conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and
assuming the price is not effected by undue stimulus. Implicit in this definitions is the consumma-
tion of a sale as of a specified date and the passing of the title from seller to buyer under conditions
whereby:
. Buyer and seller are typically motivated.. Both parties are well informed or well advised, and each acting in what they considers their
own best interest.. A reasonable time is allowed for exposure in the open market.. Payment is made in terms of cash in US dollars or in terms of financial arrangements compara-
ble thereto, and,. The price represents the normal consideration for the property sold unaffected by special or cre-
ative financing or sales concessions granted by anyone associated with the sale.
P.O. Box 131592, Roseville, Minnesota 55 I l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 12
1
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC.CL'ARKET.G}SET,PRINCIPAL
EXCLITIVE SUMMARY
ditions
ated.
6. There is no hazardous waste on the ProPertY
EPA recommend levels
and there are no hazardous wastes sites near the5Theradon level is at or below
subj ect proPertY that negativelY affect the value or safetY of the ProPertY
not leaking and are Proper registered
An environmentar assessment and costing report was supplied to the appraisers' The appraisers are
not experts in this ffiil"il^;Jtg; tn. Tnro.rnutio' pr"J#"a "r-t"irg correct and accurate' The
appraisers hereby reserve lh: fF^lrj:;ffi;^"-.;;; ;"ti;;"ot tttti"alnv.of the value' opinions
based upon any subsequent environm;# id;"i ri.rai..,?;;h ; inveitigation and/or soil con-
In this appraisal assignment,.the elistence of potentiarly hazardous material used in the construc-
tion on maintenan".-of buildings, (such as th.. pres.1r9 oili* ioimaldehyde foam insulation' as-
bestos, and/or tt. oi'r^t.n"" ofiriUit*tt' ;;;"; Utfo#io-'lJitutf *if' as toxic waste' radon
eas. ecr.) and / or "i *V ",ft.,. .noiroiitiniut innuti:t.:#;;uv uAuot"ly affect the value of the
f;#if,*::[: m];Ltfut?Tlti::1*1.tf,s*flffi:*t'"?'','.'n:$*"1"";il'";'f,""?ff
*""
The appraisers, however, is not.qualified to detect subject materiars/substances/influences. The ex-
istence of any pot.ntiutty hazardous tutttiur or toxic ;9it &;;;;!1151"c1on the value of the
orooerty. Naturally, ,,o ,"rponriUifity-J^a!r"-.4 UV this offiie or appraisers for the existence of
'anyma:terials of this tYPe'
The opinion of value in this appraisar is based on the assumptions as they may, or not pertain to the
;;bdil*erty. This appraisal assumes that:
1. The sanitary waste is disposed of by a municipal sewer or a proper alternated treatment system
, t;?lj,TT|]!:llil?fl?l;red in accordance to all federal and other sovernmental regulation
standards.
l, $*lb,ffii:ffi'Jry?"?:'ii','"i?11ffitrfrT::i"*,X'ri*",ion was provided ,rl" p1:1"*v
may requir. ,oii rlrn.diation and should same occut' titt "pptaisers '""*" the right to reevalu-
7. Any functioning underground tanks are lystorage
8. AnY abandoned U'S'T''s are free from contaminations and were propertY drained,filled and
g. There is no significant UFFI insulation or other UREA formaldehYde material on the ProPertYsealed.
0.There is no aPParent vtsible or known documented evidence of flaking or peeling lead Paint on
1
11.
12.
13
on the ProPertY
ers anylvhere on or
cgoset@comcast.net l3
the property , 1,',c^^^+ ^l- o-rl / nr noise nollution
The property ls lree of significantair and / or noise polluti
There i s no unco"."i* JFii"uG uru "rto r*or ;;;; h;;ardous asbesto s materi al
There is no appar.ni-r"uring flores"".rtiigt t uuttutts, capacitors or transform
1
E nv fu o nmental D is cl aimet
P.O. Box l3l5g2,Roseville' Minnesota 551 13 Phone:61 2-61 8-0g 17 Web : mnreapDraisals'com e-mail
MINNES'TA RE,AL ESTATE, APPRAISAL SERVICES, LLC - CLARKE T' G,SET, PRINCIP'41
EXCTITIVE STIMMARY
nearby unless noted
U ilk;f{iin:,*L-."."".""ffii,i+iTii,",u.,. or a*riculturar po'ution on.the site
16.rhere is no known-riorug" "r rr,.,{iJii;il;;:#il1i#r, r"o*ti"" or electromagnetic
As defined as an assumption, directly related to a specific assi'nm-ent' y.?:* if found to be false'
:Hf JiT: jH,?rff ff m,:r'n:p;il;:,:""fi '."-*rlt$:ililtf, #ilt'ffi '.l;?ilr:.ft:ff i:il:
errv: or about .o.,oii*, external.drd..ffi;"'iv,''"trt "';;l;;o"aitiont or trends; or about the
ilA;;y ;i data used in an analYsis'
The legal description used in this report is assumed to be correct' '
The appraiser has made no survey.of this property.andno responsib'ity is.assumed in connection
with such matters. s;tches and i,rr"t"gr"i'rrr'in iiri, ,.p"Ta'"#ittr'"oti "trv to assist the reader in
visualizing the ProPertY'
No responsibility is assumed for matters of a regar nature affecting title to the property nor 's an
ffii;ff";:fi,ffiTf sT;:#ifiT*?'#*.1"t.Tff"3#.L1T5;:1ifu .Areasonableefforrhas
been made to verify such inform"aro.rito*"u.i, tt. appraiser assumes no responsibility for its ac-
cufacy. r i 1-'.- ^^ da
All mortgages, liens, en-cumbrances, leases' ffid. serv,itude have been disresarded unless so specl-
fied within the reporr. The properry t, "oi,*il"a ur ,t o,L"t T;#;;;ponsiuje ownership and com-
petent'management'
It is assumed that there are no hidden or unapparent conditions of the prooertv' subsoil' or struc-
Nres rhar *outor.nJ.,. it more or r*, ""rr"ui:. No d;;;bitity ir u**ired-for such conditions
or for engineerin;;;til rnuv ut required to discover them'
It is assumed that there is furl compliance with all appricabre federal, state' 10ca1 environmental
regutations uno iu*, unless """."#;it1;;i;H-;d"iJifi;;";J;;;;ioerea
in the appraisal re-
port.
It is assumed that arl applicabrg zglins and use regulations and restrictions have been complied
with, unles, norrroriio#irthas been tt"i,#Hi;J;; totitia"tta in the appraisal report'
radiation
cgoset@comcast'net 14
1
Extraordinary AssumPtions
P.O. Box l3lsgz,Roseville' Minnesota 55 1 13 Phone: 612-618-0917 Web: mnreapPraisals'com e-mail:
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL,4RKE T. G)SET, PRINCIPAL
EXCLITIVE SLIMMARY
It is assumed that all required licenses, consents and other legislative and administrative authority
from any local, state, national govemmental, private entity, or organization have been or can be ob-
tained or renewed for any use on which the value estimated contained in this report is based.
It is assumed that the utilization of the land is within the boundaries or property lines of the proper-
ty described and that there is no encroachment or trespass unless noted within the report.
No environmental impact studies were either requested or made in conjunction with this appraisal,
and the appraiser hereby reserves the right to alter, amend, revise or rescind any of the value opin-
ions based upon any subsequent environmental impact studies, research or investigation.
The appraisers have no knowledge of abandoned wells or of the existence of hazardous material
that may or may not be present in the property. The appraiser is not qualified to detect such sub-
stancss and urges the client to retain an expert in the field prior to any legal transaction on the prop-
erty. The value expressed in the appraisal report assumes no presence or existence of this type of
contamination.
It is assumed that there is full compliance with all applicable federal, state and local environmental
regulations and law unless non-compliance is stated, defined and considered in the appraisal report.
The appraiser was not aware of the presence of soil contamination on the subject property, unless
otherwise noted in this appraisal report. The effect upon market value, due to contamination was
not considered in this appraisal, unless otherwise stated.
Unless otherwise stated in this report, the existence of hazardous material, which may or may not
be present on the property, was not observed by the appraiser. The appraiser has no knowledge of
the existence of such materials on or in the property. The appraiser, however, is not qualified to
detect such substances. The value estimate is predicated on the assumption that there is no such
material on or in the property that would cause a loss in value. No responsibility is assumed for
any such conditions, or for any expertise or engineering knowledge required to discover them.
Hypoth etic al Con dition
As defined as that which is contrary to what exists but is supposed for the purpose of analysis.
hypothetical conditions assume conditions contrary to know facts about physical, legal, or econom-
ic characteristics of the subjectproperty; or about conditions external to the property, such as mar-
ket conditions or trends; or about the integrity of data used in the analysis.
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net l5
1
MINNESOTA REAL ESTATE' APPRAISAL SERVICES'LLC . CLARKE T' GOSET, PRINCIP'4L
EXCTITIVE STIMMARY
Thefollowingrequisitesarecertifiedasbeingmettothebestofmyunderstanding
irr" o""r"t"."6tioti presented herein'
, -,_,-^2 idenced
ThisappraisalconformstothegenerallyacceptedrygsisalstandardsaSev
form Standa.Os orprofe.riorrut App'"i""li-';i"" tU'Spnpl aJopted by the Apprais
;"i#AiCi or tnt Appraisal Foundation
Thisappraisaliswrittenandcontainssufficientinformationandanalysistosupport
of the underwritet';ilhit ptoject to engage in the transaction'
The appraisal is based upon the definition of market value
Thisappraisalispreformedbyacertifiedgeneralappraiserinaccordancewithrequirementsun-
Jer Titlb XT Of FIRREA.
The current legal description for the subject parcel is supplied in the documentation
uspAp requirements are herein attested that this appraisar assignment was not based upon a re-
ouesred -ininl,r- uitJuiior,, u rpttiltl*u'u'tiuii;';; FJpe;;?i' ti" l:.It' and restated in the
terms and limitins ;;;dili;;; "r ir'9 #d;F;;bb'd section or this appraisal'
Highest and best ";;iiht land is judged as its current use'
Theappraisedvaluationhereinisfurthercontingentuponthefollowingconditions:
Arnecessary governmentar approyars {or appropriate-dwelopmett P"ilg-Fjanted
within a nor-
mal time frame; til;";rr" ptyriruirii. p'bUf6'n' tttth "t'l* not restricted to' pollution' con-
tamination o, u*.tiuuie sub-io.il ."iil;'il N;-;'i"i;;';i'C;;neiship obstructions; Compe-
rent projec, *unu!.fi-.rr; L""ii"."d;;;;iunderlying tt"""*it and demosraphic conditions
The varue srated io, t1.,. uu*dings is b;;J;" it preseni;*g;;^;; ilghes1 and"best use if specified'
ownership and management,.no ",h*;;;ui" t"t ** f;;;?; lor thls valuation' Its present value is
;;;t "t',he
anticipaled continued basis as is'
in terms of
bv the Uni-
al Standards
the decision
We certify that, to the best of our knowledge and belief:
.Thestatementsoffactcontainedinthisrepoftaretrueandcorrect.
cgoset@comcast'net 16
1
Requisites Appraisaltheof
Certiftcation
P.O. Box l3lsgz,Roseville' Minnesota 55 I 13 Phone: 612-618-091 7 Web: mnreaPPraisals'com e-mail:
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINCIPAL
EXCLITIVE STIMMARY
The reported analyses, opinions, and conclusions are limited only be the reported assump-
tions and limited conditions and are my personal, impartial, and unbiased professional anal-
yses, opinions, and conclusions.
We have no present or prospective interest in the property that is the subject of this report
and no personal interest with respect to the parties involved.
We have no bias with respect to the property that is the subject of this report or to the parties
involved with this assignment
Our engagement in this assignment was not contingent upon developing or reporting prede-
termined results.
Our compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client, the
amount of the value opinion, the attainment of a stipulated result, or the occuffence of a sub-
sequent directly related to the intended use of this appraisal.
opinions, and conclusions were developed, and this report had been prepared,Our
ln the Unifurm Standards of Professional Appraisal Practice (USPAP)
I,set, have made a personal inspection of the property that is the subject of this
ly not made a personal inspection of the property that is the subject
significantly to the report and its findings
G en er al L imiting C o n ditions
The appraiser will not be required to give any testimony or appear in court because of having
made this appraisal, with reference to the property in question, unless alrangement have been
previously made.
Possession of this report, or a copy thereof, does not carry with it the right of publication. It may
not be used for any purpose without the written consent of the appraiser, and in any event only
with proper written qualification and only in its entirety.
Neither all or any part of the contents of this report, or copy thereof, shall be conveyed to the
public through advertising, public relations, news,,sales or any other media without written con-
sent and approval of the appraiser, nor shall the appraiser, firm or professional organization of
which the appraiser is a member, be identified without written consent of the appraiser.
Acceptance of and/or use of this appraisal report constitute acceptance of the foregoing general
assumptions and general limiting conditions.
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreaporaisals.com e-mail: cgoset@comcast.net 17
a
a
a
a
a
a
a I,
1
MINNESOTARE,ALESTATEAPPRAISALSERVICES,LLC-CLARKET.G7SET,PRINCIP'41
EXCTITIVE ST]MMARY lt
Americans with Disabilities Act
ScoPe of lAotk
Thisreporthasbeenprepar3{inaccordancewith.theUniformstandafdsofProfessionalAp.
nraisal practice (uspAp) of .thq "op;#i'F;;a"!i"r.
tt.-r.op. of the appraisal encompasses
the required r"r.urJh u^iunutyri. f,; pr.p"r. u p-r.rrionui-r.port in accordince with the purpose
of the appraisal "" i,r-i"i..o.t ;r:, p";;;;f #;il-,;-alnn"a^u, "the tvpe and extend of research
and anatysis in an ur.ign..,,l" r1,:-;f;#JiFffi;;k "o*gel1:l*cope
of work deemed
necessary to produce cieditabre urrigr,ilJni resurts. n."ori-ini"io rispap, ""dibl" is defined as
,*orrhy of belief,.t;Jitu6lt"*ig;#"o..rtii' *q"ot t*'?"i' by relevant evidence and log-
ic, to the degree necessary to its intended use'
ance
e-mail:cgoset@comcast'net l8
The three key elements of the scope of work incrude 1) the level of inspection' 2) the extent of
research involved in ir," appraisar, #:;iilr;;i "i """riri.. ih;;;i"wing icope of work
1P.O. Box l3l5g2,Roseville' Minnesota 551 l3 Phone:6 12-618'09 17 Web: mnreapDraisals'com
2) Research r ---Li^l- oc heen considered in this report included' but is not limited to the
i#;;;"n obtained which as been c'
l"tttT,ffo rax Records
. Municiput zonlil"gilup und Z2n\2eDescription
: ilfilultio" outuined from client'
perinate Market Data was _gorl".l?1 and anaryzed'to develop the valuation approaches' Data
Sources include o'L"*t ""l titnitto to the following'
. Apprai"' to'['fri; il ind"p"ndtnt databases
. CoStar. NorthStar MLS
: il;;;oh DePartment o[Revenue
. PtUiitt"ted market rePorts
Persons interviewed for this include:
.
--
fioPertY rePresentatives
. Brokers. Assessors. Other appralsers
. CitY officials
MINNES'TA REAL ESTATE APPRAISAL SERVICES, LLC . CL^4RKET' GOSET, PRINCIP'41
l9
1P.O. Box l3l5g2'Roseville'Minnesota 551 13 Phone: 612-618'0917 Web
cgoset@comcast'net
MINNE,SOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET'G}SET,PRINCIP,
L
EXCI]TIVE STIMMARY
sales
20
4) Analysis r ,- .^r^ c^-rLio rcnnrr the anolicability of the three traottlonal aP-
In the course of research and analysis. for this report the ^appricability
of the three traditional ap'
praisal methodolog##^;"*lrut.O. tnis include the following:
. The cost approach was not utilized and not thought to offer a creditable value indices'
. The subject property is considerta * ""-l-ptou:td'
parcel of land'
. Market particip'ants do not g"n.rutfrr;;;{\;";e;it"crt ttr"tionship between construction
: ffi*fi11l,.dill','$'"?'ti:i'ffi1,:#''*,'_the concrusion developed bv rhis approach
when,,,rn"i.n?;i;^;;i1;bi;#ili.M;fi l;"b"f l5;:tr1"?11'l;*"n:tt3,F:X?i.n"'*fulit"ru*:1;1ffi f:'f'*l"Tifi"Jil*.,Tf $ff;#fltlffi "''i*t''iq"i'
nor consid.r.OiuiiuUtl--to O.u.top'u ti"J'ituble indication of market value'
The Market (sales) approach is presented in this report as:
. Severar "onlp#uuie
sales *6r. to.uieo una auailabl. for analysis'
. Adjustment applied t9 thg ,on'gqiUiJ '"G'.t* Ut "tlit"uttd i" u reliable and objective man-
ner through the appraist'''.t*pt'#t;;;;;*ch conducted by the appraiser'
. Market participants typically ur..'tui" ualue' in part' based upon u 'u*ty of competitive
The income approach was utilized in this appraisal in anarysis of highest and best use analysis'
The land residuat calculatio-n 1ur"n1#oi*{. tryf-iil"'iitt'"t"i* of the 5'000 buildable
souafe footage. As of the effective iut. or tnis-upp.aisut iii"i. *ur no formal development
plan. rhe r*a r.riall *t*tuti#;;;; ;;"d d 6';;J;;;;u!"' *o not site specific infor-
mation. Given this, this approach *"r"r"r.i i, th; high;s; andlbest use anarysis and in con-
.fr l";;::JJU['"il:t\*T'"f Tf"ill':?#ii]':ff *nl"?ffi :il*?;o"rtvisvacantand
: lx# l:Hl*t"'.1#ST"::XX3t'.Unl1?:li'o,,,ut., cannot be reasonablv estimated
- il;J;; a review of competitive properties'
5) Presentation
There are two written report options:3pp:,"i:l1}rp9{ and *estricted Appraisal Report'
The report option presented herein .oririrtr orthe "Appraisal Report"
1
P.O. Box 131592'Roseville' Minnesota 55 113 Phone: 612-618-0917 Web mnreappraisals.com e-mail : cgoset@comcast'net
MINNESOTA RE,AL ESTATE APPRAISAL SE,RVICES, LLC - CLARKE 7.. GOSET, PRINCIP,4L
DESCRIPTION OF ST]BJECT PROPERTY
SOT IRCE REGIOI{AL,44t ILTIPLE I,ISTTIVG SERVICE
1407 Larpenteur Ave W, Saini Paul, MN 551 1 $6304, Ramsey County
APN: 1 $29.23-34-m61 CLIP: 4646809894
lvA
Seds
Bldg Sq Fl
1,176
Full Balhs
N/A
Lot Sq Fl
12,729
2t1J
sr80,roo
sr2t,3oo
952,800
itSo,too
s r27,30,0
952,81X!
932,ooo
Half Baths
?VA
MLS Yr Built
1 953
School Dst.id
F8mity Friodly Ssro
Welkqbls Scdo
Ol lltru Prica Fo.M6i
Lasl 2 Yr Homo Appreiation
Schooa Dgrkl
Setbf, f
Trynship t
Rango I
Lrcation
Within 250 F@t ol Multiplq Flood Zom
% lnp.ov€d
TotrlAs$m€nt
CREV Sale Price CREV Sale Data
s235,000 07n0x2018
Type
COtvl-NEC
owN€n tHFo€ulttoil
Ornor Nmo
Tupayor Add.N
Tqpayor Cily 6M Siat6
coHmrHrrY trs}oHYs
Modis llome Vatuo natiog
Total C.ire Rkk Scdo lld ihc noiohborh@d, .olaliw to tho'nBtim) -
Total lncidents {l y.}
Standardiad ToEt Bank
LffANON I{FORHANOII
Mun lcipality
Zip cddo
Csrrk{ Routo
Col1s Trel
gubdMsion
Sct@l tlisbict N6ru
TAX ttFonMtroll
PID
Ptga
Logsl Dosriptim
Proliminary Til Amunt
PaysHo Til Yoar
Sarln Homs LLC
1693 nldgffiood Ln tl
Solnl Paul, MN
Tdpayor Zp
Trypsys ZIP+{
O*re. Occlttod
55113
56?2
No
s4l)8,708
6/10
,15,100
65
62 / r00
ROBEVILLE PUBLIC ACHOOL DISTRICT
521 160
?9 / t00
t416,869
m
F.lcon Hrlghla
55113
c003
tll9.00
Seton 15 Town ?g REng6 ?3
R€wl!lo
1s.2$t3-3+0061
t5t02334004t
623
t5
A
/3
Nohhbofiood / Spot
No
SECNON I5 TOWN 29 RANGE 23gUB TO CO ND A AND ALBENT STTHE E 12() $2/1OO Fr OF S 189 5/lo Ft oF w tt2 c)F aE t,/4 .'F 3w t/
4 0F gEC 1S TN 2s RN 23
s4,314
m25 The information supplied
on the Regional Multiple
Listing Service notes infor-
mation on the subject struc-
ture. At the time of inspec-
tion the structure has been
condemned. The infor-
mation supplied is no long-
er considered relevant and
is not a factor in this analy-
sis. It is included in this re-
port as it is still noted as
public information
29%
tt80,100
AS3€SIII|ENT & tAI
As$mnl Yo6r
Eslimatod Mkt- Valuo ' Tltal
Eslimalcd Mh. Valuo - l-and
sr48,l0o
fl27,3rxr
lm,8{x}
202t
s150,3{O
i r?7,3{x}
323,000
2024 . Proliminory
8185,9(n
$t85,SOO
c
Tqablo MK. VEI!a ' Total
Taxtblg Mld Valu6 . Lqod
Tuablo MK. Vsluo . guilding
YOY Tflablo Mkt. Vat@ Chq (
$l
YOY Tsablo Mld. VatF Chg {%)
Poyable Tax Yod
2s22
*23
w24
CHANACIEHgTICS
Lot A6rs
Lot Sq Fl
Lol Shap6
Land Us . County
Lsnd U8o . Corolooic
t ol Buildings
st48,too
s127,3(b
t20,8oo
-t2,200
t150,300
3127,3*Xl
t"3,000
$5,800
3.t296 n.d6%2r.61%
Totel Tax
t4,%
$4,158
$5,1?o
0,2922
12,7A
Srull (Undor lo(xlor0doi Rotll
Commrdll {NEC)
1
Efletryo Y&r Built
Finignsd Sq Fl
Toral Buildirq sq Ft
lil€ritr WBll
C0nstrEtifi
Hoal Typc
1985
I,r76
1!176
Inlodor WEll
W@d Fr€rru.tb
llol Alr
Chang€ {$)Ch{ngo (t6}
-970
sl,0l4
.t.6694
21-4,6
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 2l
DESCRIPTI
MINNESOTAREALE,STATE,APPRAISALSE,RVICES,LLC.CL'4RKET'G)SET'
PRINCIP'4L
ON OF SLI BJECT PRO PERTY
SOLIRCE: REGIOIVA L MLIL TIPLE LISTI]VG SERVICE
Larpentaur Ave W, Falcon Helghts'MN 55113, RamseY Gounty
APN:1S29-2+34'0062 CLIP:8035587588
Hatl Baths
l.t/ABeds
hUA
BHg Sq Ft
tt/A
Full Baths
IIVA
Lot Sq Ft
9,171
Yr Built
rvA
Type
COML LOT
CFIEV $ale Price CREV Sale Daie
izss,ooo o7l3oao18
. owxgsnronulnol
Ofl6t Nam€
TdQeyor Addtos
Taxpsysr CitY and Ststs
coHlluHfnt DastoHt$
Median Homs Vatua
Msdiall Homo Vslus Eating
;8FJ,glg:,"l;iff 'Ftrlfl '03[lBlu'c
Total lncid€nts {1 Yr}
Sbnda.dizsd Tsst Flank
LOCAYION lxFoh14altoN
Muni:ipsW
4p Codo
CercE TrBst
Subdivision
Sctlool Oi8aict Nama
TAX lllFoFltlTKtl{
PID
Logal Ooscnptim
Prsliminsry Tax Armunt
Pay8bl€ T8x YosI
P8yablo Tax Yoar
zgn
N?3
?f/24
CHARACIERISTICS
Lot AErs
Lot 51q R
Lot Shapg
gadn Hom.s LLC
l6s3 Bldgotrood Ln N
Solnt Paul' lltl
$4O81708
6l 10
rt5 / 100
65
52 / 100
Total Tax
l?,i30
s2.588
i2,55O
0.2t05
I,t71
s
TaxPaYd AP
Tspaysr ZlF+tl
school Eictict
FamilY Frinldy Scors
WsthBble Sco.6
Ol ltomo P.ico Foracast
Lssl 2 Yr t'iorn€ APprsciotion
School Dislrid
Sscli.x| *
Town$hiP J
Range I
Wilhin 25O Foot ot ililultipls Fload Z
on€
Pt0f
folat Assossmsni
2022
f?s,ooo
f78,0oo
t78,6{)
iTs,ooo
i0
w"
changs (S)
-1142
-t38
Land Uss ' County
Land U3€ - CtroLogb
55113
66?'
NOAE$LLE PUBUC ACHOOL OIS
TNICT
62 /',1o0
7S / 100
i416,469
7
F lcon Holghts
65t t3
420.01
Sleclton tE Town 29 ftrngo ?3
iororrltb
15-2$2a--i4-006?
92,568
2025
6?3
t5
29
at
No
r52343340062
3?e,ooo
AsSESSltE {l * lax
AssossmsntYeor 2024 - Prsliminary
E$imatsd Mkt. valuo'Total ft8'00o
Edimatad Mkt. Vslue' Latld
Tsxsble MK. Vsl!€ ' Totsl ftS'0O0
Taxabls Mld. valuo' Lard
YoYTsabla Mkt Valus Chg ( i0
$)
YoYTaxabls MH'vahBchg { o%
%)
zglJ
3?6,ooo
lzt,00o
t76,ooo
il8,00o
i0
0%
2V21
l78,0oo
t7q0oo
l740oo
s?8,0do
GbarEo (%l
-8,5t16
-t.4P6
Commorclal Vactni ljnd
commorcltl Lol
P.O. Box l3lsg2,Roseville' Minnesota 55 1 I 3 Phone: 612-61 8-09 l7 Web: mnreaPPraisals'com e-mail cgoset@comcast'net 22
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C,L.ARKE T. G)SET, PRINCIP. L
DESCRIPTION OF SLIBJECT PROPERTY TAX INFORMATION
Parcel ID
Parcel Status
Property Address
Sec/Twp/Rng
Brief Tax Description
Parcel Area
Parcel Width
Tax Classification
Homestead Status
Roll Type
Municipality
District Code
School District
Watershed
Land Use Code
First Half Due 05-15-2025
Amount Due
Penalty & Fecs Due
(thru current month)
l
Delinquent Taxes
Forfeiture Year:
Estimated Market Value
Taxablc Markct Value
Net Tax Amount
Special Assessments
Total Taxes
2028
$ 1 80,1 00
$180,r00
$148,1 00
$ 148,1 00
Parcel Depth
Multi-Parcel Link
* Multi-Parcel Link displays additional parcels that are linked together for computation of net tax capacity
152923340062
Taxpayers
Please refer to disclaimer at bottom ofthis page
Taxpayers
Typc Name Address
1693 Ridgewood Ln
Owner Sarin Homes Llc N
Roseville MN 55 | 13-5622
Current Tax Year*lnformation listed is as ofyesterday. For specific payoffinformation contact Property Tax Info at 651-266
-2000
See Tax Transaction History for payment and/or adjustment information.
Second HalfDue l0-15-
2025
Amount Due
Penalty & Fees Due
(thru current month)
Balance Due
Belance Due
Total Due 55,678.40
Tax Summary
For payment history, please see Tax Transaction History
152923340061
Active
I4O7 LARPENTEUR AVEw
FALCON HEIGHTS MN 55I 13-6304
15t29/23
SECTION 15 TOWN 29 RANGE 23 SUB TO CO RD A AND ALBERT ST
THE E I20 ...OF SW 1/4 OF SEC I5 TN 29 RN 23
0.2922
0 Feet
0 Feet
(Note: Width and Depth represent buildable area of lot in the case of irregu-
larly shaped lots)
3A COMMERCIAL LAND AND BUILDING;
Non homestead
Real Property
FALCON HEIGHTS
333 I
ISD #623
CAPITOL REGION W/S
420 SMALL (UNDER
IO,OOO SF) DET, RETAIL
* The Tax Classification is the Assessor Of'fice's determination of the use of
the property and is not the same as the property's zoning.
$2,730.00
$218.40
$2,948.40
Tax Summary
$ I 85,900
$ l 85,900
$4,253.98
$1,206 02
$5.460 00
$3,994 I 8
$1,17s 82
$5,170.00
$2,730.00
$0 00
$2,730 00
$2,987 82
$ 1,168.1 8
$4,1s6 00
$ l 50,300
$ l s0,300
$3,563.s2
$662 48
$4,226.00
$ 1s4,200
$ l 54,200
$3,ss8 00
$0.00
$3,ss8 00
Total Delinqucnt Texes
Due:$6"074.90
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreapnraisals.com e-mail: cgoset@comcast.net 23
1
MINNESOTAREALESTATE,APPRAISALSERVICES,LLC.CLARKET'G)SET,PRINCIP.
L
DESCRIPTI ON OF SLIBJECT PROPERTY TAX INFORMATION
752923340062
Active
O LARPENTEURAVEW
FALCON HEIGHTS MN 55113
78t29123
SEoTIoN15ToWN29MNGE23SUBTocoRDAALBERTSTANDESMTSANDEX...oFSwI/4oFSEc15TN29RN23
0.2105
0 Feet
0 Feet
(Note: Width and Depth represent buitdabte area ol tot in the case ol irregutarty shaped tots)
3A COMMERCIAL LAND AND BUILDING;
Parcet lD
Parcel Status
PropertyAddless
Sec/TwP/Rng
BriefTax DescrlPtion
Parcel Area
ParcetWidth
Parcel DePth
Tax Ctassiflcation
Homestead Status
Rott TYPe
MunlciPalitY
Dlstrict Code
School District
Watershed
land Use Code
mation.
Non homestead
Reat ProPerty
FALCON HEIGHTS
3331
tsD #623
CAPITOL REGION WS
4OO COMMERCIAL VACANT LAND
*TheTaxctassificationistheAssessorotfice,sdeterminationoftheUseofthepropertyandisnotthesameaSthe
property's zoning.
yni;i.,-'#l.|l|;k disprays additionar parcers that are rinked together for computation of net tax capacitv
152923340061
Taxpayers
Ptease reter to disctaimer at bottom o{ this page
TaxPayers
Type Name
Owner Sarin Homes Ltc
Current Tax Year
*lnformationtistedisaSofyesterday.ForspecificpayoffintormationcontactPropertyTaxlntoat6sl-266-2000
si.iu*irunrrr,ion Historytor payment and/or adiustment inf or-
Address
1693 Ridgewood Ln N
Rosevitte MN 55113-5622
Tax Summary
Second Half Due 10-15'2025
Amount Due
Penatty & Fees Due
(thru current month)
Balance Due
First Hatl Due 05'15'2025
Amount Due
Penatty & Fees Due
{thlu current month)
Batance Due
fotalDue $2'687.36
Tax SummarY
For paymenthistory, ptease seeTaxTransaction History
$1,292.00
$103.36
$1,395.36
$1,292.00
$o.oo
$1,292.00
$78,ooo
$78,000
$2,532.96
$sr-oa
$2,584.00
$78,ooo
$78,ooo
$78,000
$78,ooo
$7e,ooo $91'7oo
$78,000 $91,700Estlmated Market Vatue
Taxabte Marketvatue
+
Detinquent Taxes
Forleiture Year:
NetTax Amount
Special Assessments
TotatTaxes
Totat DelinquentTaxes
Due:
$2,4s7.06 $2,s33.18 t2J77'4s $3',170'00
$52.94 $54'82 $ss'sr $o'oo
$2,5s0.00 $2,588.00 $2,830'00 $3'170'00
2025
$74,985.72
24
1
P.O. Box l3lsgz,Roseville' Minnesota 55113 Phone: 612-61 8-0917 Web:mnreappraisals.com e-mail : cgoset@comcast'net
MINNESOTAREALE,STATEAPPRAISALSERVICES,LLC-CL'ARKET.G}SET,PRINCIPAL
OPERTY REMEDIAL COST REPO RT
DESCRIPTION OF SLIBJECT PR
SOURCE BAYWESTffi
Shanna s(hmidt
Pmiert Manager
Minnesota Follution Ccntrol Agency (MPCAI
:iof-utuV**t Road I 5t' Paul' MN I 55155
November 72,2A?4
Re:fi emedial C.ost Estimate
Former Get Pres5ed Dry Cleaner Froperty
1407 Larpenteur Avenue West
Falson Heightt, Minnesota 55113
MPCA Site 8F00o2685
fPA ACRES 256?53
Bay West Prsje€t J241098
Dear Shanna:
BaYWeEtLLctBaYWestlispleasedtgprovidethisRemedialco'tE*imatefortheFormerGetPressed
Dry cleaner properry ,o."iJ ur-r*07 iarpenteur Aveir" w*tt, Minne5ota lthe site!- Thir work was
compleredinacrcrdance*itr,eayw",tsFfofessianalandTechnicnlservicesRernediationMastef
ion*"o ?33?A, SWIFT contcict number 229121-
1,0 BACI(GftOtjND
TheSitecongiltseftvJorgntiguousparcelstotalingapproxinnately0.50acres{flamseycountvParEe[lDs:
152s2334o06?and1,52923340061}.ThePropertyisdevelopedwithal,200squarefoolhuilding.
associatedpa.kinglot,andlandscapedareas.Theb$ildingisl-storyt.,ithcBncret€slab.ongrddeflgoring
nndcon'istsofaformerdrycleaningpickupanddropoffarea,asmallutilitvroom,andabdthroom.
AdioiningprcpertiessurrounaingtnePropertyaredevetopedwithslnglefaG!ilyre5idefttialdwellings.
me generat location of the Site is depict€d on Figure 1'
TheAppticanti'proposi$Erede.relopmentoftheFrogertTt,t,hic}rinclude.rcon'rruCtionoftw4rnartet.
rate residential townnom*e buildifrgs lrdith tive {5} residential units each, along rqith associated Faved
par*ingardlandscapedarear.Thesetondstoryofeach$nittdillb€constructedoveraparkingarea
as'gEiatedvgith",.hunit.Thegrade.levelfootprintgfeachproposedbuildingisapproximately2'1ffi
sgutre leet (5,000 mtal]- The proposed redevetspmenl would require d (hange in land use frorn
comrne rcial-industridl to residentia l'
lnMarch20?4,saYw€stcornpleteda.Phn5elEnvironmental$iteAssegsmentforthePropertY.ThePhage
I rEr/ealed recognieed "nu,ron**na.,
conditions tn=ilr i* connection viith the Froperty's hittoriEal land
uie a5 a gasotine
'u"nc ';';; uio o'y tttun"' uno '"to*ttnaed Phase ll sampling and testing-
Ba'edontheplopo5edredevelopmentofthesite.whkhwillinvolvesoildisturbance.thelYlPcA
requesr€d that tsay *;;;;;;r; a phare |l *;:;;;;te a Pha* ll EsA and follow-up Rernedial
lnvestigation{Ruatthe$te.andprepareasite-specificRAP/ccP.Thepurposeofthescopegfworkwas
25
1
P.O. Box l3l5g2, Roseville'Minnesota 551l3 Phone: 612-618-0917 Web mnreapDraisals.com e-mail : cgoset@comcast'net
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET'G)SET'
DESCRIPTION OF SLIBJECT PROPERTY REMEDIAL COST REPO RT
URCE BAYWEST
@rrrrast
PRINCIP'41
Remedia I Cost Estimot€
Fflcron ffeistlts, MiJ
Fumer GetFressed Dtv
to assess the sfte for envirgnrnental {oncerns assscialed with h'etor-lcal site uEe and to detelcP a FAF to
2.0 SCOPE CF SERVICES
add ress identif'led contilminaiien'
BayWeltrompletedaPha5ellESA.R|,andsubsequentRAf/CCPlortheSite.TheRAP/C{P$Ja'subrnltted
to the MscA i, s"pt"ruii ;;;;'.;; is f,urrenrly i"i"* ?-ro*"d- Borins loratisnt and soil impacts
idenrified during the ,nur" i, i* nnd Rl rhat .*.""c upprLble regulatory :rl:e:ia are snovdn on Figrrre 2'
Ir i5 osr understanCine mat;ii* o*n*, *., .OO,rili *.*ug|n,Co'ntv f nF' DEED' and/or other public
grant funding ror r*o.r*rop,i"ni.aiuiti* uno t.r'-r.qu"*ed a cost estifnate for rernedial activilies
specified in the RAp/ccp iil- nnrao has requested that BaY west prepare a remedial cost estirnate for
the Site to a55ist Sle Site ownet with their grant aFplicatiant:l'
The scope ot eervkes BaY W€5t performed consists of the tollowing artivltEs:
. P[eaurement of the latest grading plans and other informdtlon tegarding propgsed rilbsurface
. ;1T:H:llf]f;J'"'ff];1ffi:';;lJ:'T""Jot 'on'u*inu'ed
soirr schedured ror removar and
off-Site disPosal;
I Procurement of cost estimates from ap-plicable lubcontractors 1o comFlete remedial a$lviti€s'
inctuding nu, nori*ii*i'io **.u"ution/"#;;, ;ntarninated 5oil tran5pBr!' and di:posal at
in appticable landfllt, atang with u"po, *i;;;;;;on acuvities lncluding vapor barrier and S$BS
ia5tallatisn; and
r preparaticn sf this report for l,rhrnittal to the MpcA and prospective purchaser detailing the
methodotogY Ig prepare the estimate, , ,$.".j'n*.' sumrnary of co:t estimates, and all cost
eltim3te5,*..iujii*potentialsubcontraetO15anddi:posalfacilities"
Site Background and Surnmary of Environnrental Serrrices
Theproposedredevelogrnentplanlande'timstedextentsofexcavation,tabeledal"AreasofCongern'
{AOC} 1 thru 4, ur* ,n*r""'ou*eo in yellow dJ;;;; the attached Ftg$rc 2 - s;te Mtp ruith AOC
ExravotiongoundofiestFigurel).Asdepided.rn.prrpou"lredevelo.pmentthEtinvolvessignifi(anlsoil
dirturbance i5 tq€aied priirrflv under the *r*"rl'rJonnome building footprint lgteen shading]' ihe
ea5ternd.ive|vaylsidewaik(orange},andtheroadway.AddhionaldetailregardingtheAocgranbefound
in Ba1 west's RAP/ccP- -^^*,!,diftn (ir* EreBaration activitiet identi'Red
Soil imparts that ?Jilt be remsved Fnor to andfor during contlruction sitE Fre[
as AoCs 1 tlrru 4 ,r" "uti*rtuo to consist ot ,pp.o"ri*"uJviai in-pfutu cubic yards and is broken down
lelorr. The estimate is conservative and mav uury J"ptnaing on €hanges ts the prsposed development
layout and/or field condhions enrounter€d during excavation'
E5timated Volume ol Excavated lrnEacted Soil
AOCfl4 (beneath eastern buitding' ?-loo: bufferl:
AOC fl4 (footings edslern building' z-foor bufterl:
AOC fr4 (beneath pavement' 2-foot buffer']:
Other AOC5:
Io;0i Estirnflte fr-mPoc!edJ:
November 20?4
2?5 cubic Yards
10O cubic Yard:
520 cubic Yards"
10O cubic Yards
945 cubh Yards*
J?410s8
cgoset@comcast'net 26
1
P.O. Box l3lsgz,Roseville' Minnesota 551 I 3 Phone:612-618-09 17 Web: mnreaDPraisals'com e-mail:
MINNES'TA RE,AL ESTATE, APPRAISAL SE,RVICES, LLC - CLARKE T. G,SET, PRINCIP'41
DESCRIPTION OF SLIBJECT PROPERTY REMEDIAL COST REPORT
SOI]RCE BAYWEST
@ftYffssr Clesner,Fslc€n
Remedial Cosl EetimalefiN
Fotmer Get Presserl Dry
'Hote, the EAP/CCF ifld:cated that a 1'fqot buffer ol "clean'soil would be required beneath the Paved
areaE- However, based on feedback frorn the MPCA' a ?-foot buffer i5 required- Estimates received from
excavation oversigltt, ittd confirrnation soil samPling cgfi5 were
rofltractors, labor assogiated whh
Labor includes lull-time freld overlight {e5timated ar five t5l daYsl of goil excavatlon, removal' disPoal'g1 -
and backfill st th€ four {4) AOC5; Part-time on-calt fietd over:ight related to con5tnJttion contingency
Plan; and Proiect managernent time,
a PlD, vehicle, Level S FPE' and a GPS unit
Equigmenr includes ettimates tor
Subcontracied $ervic€g !ncludes estimat€5 $rith 20yo mar(uPs lor soil excavation.trucking. and,disPolal
Et a Fre-aPProved landfil l, and Placernent of clean bacHill- The ettimate also includes laboratory analfical
f€e5 atis(iated Ysith pott-excavation confirm atisn and waste dldraderiration :oil samPling- We have atso
included a 15% tontingen€Y (sum of subcontracted tervices afte. tnarkupl ro account lor additisnal (6st5
stemming from soil disposal,harkfil1,samPling etc- associated with any P0temi6[expanlions of the
remedial €xcavatisns bated qn tield observationl
J2410s8
Navemlrer 2034
cgoset@comcast'net 27
;ff:J.TJ:::i:"Jt::";* -,1* :::i'-1"*:' soir vrirr need tc be exEEvated asls{iated r/itr} the
conrtrucdon oi tn" **rr.ri'["ffirri*,,ngs and o;;;;vt:;t;t; on results
-ol
the Phase ll 3nd ftl' the
5oi[ in theee areas {i-e-. *";;;il; iu.r.n, o.y cleane' Luilding} does n'ot apFear to be impEcted and will
not likely reguire *unrr.*.-nr, fi Oirturt*U Ouring r.OJJt*O*"*t' 5oil in this area should be monitored
by a qualified protu*irnujj". ,r",0 indicarians ot contaminution (odor' 5tilining' etq and managed
ilt;#;;;i;p!r tnis RAP/ccP ir encountered'
:fil':::::::l::"**:"" "1'lTi'::i:*':.'n"'(31appricabre
subcontractor5 rer tie 685'in-
prace cubtc yards of ,*p;;;l tp.u***u non-nu.u.i.lu'ui 'iu i"**"'' rru-ckins' disposal' and bacHilt-
cost estimates *"r. orou,o*J nn/ st"vens rnuir"n*"*-tli*r,urg. landwehr c.onstru€tiorl lnc-' and Rachel
csntracring for rn"u. nu*lii i;,,*rie5 pro"ic"o.r*J'*tt"ttt "* atta€hed to this report' For purpo5es
of this remedial .or, uu*,*-=,*,;;; *;;; lsed the t;;il;;;;;e for the-final value $'hi€h r€preeents a
worst_(a5€ scenario "rti*"i* r" <omptete uit" "ror1r.'-
nn rnentioned above. the highe:t estimate wal
increasedby40gato..,oun,,o,additionalsoile".uuu,*onandbacktillingcostSa5sociatedwithin[rea5lng
ii- t:t*, o"oer bereath the pavemeflt te 2-feet- ,. rnr incrauarion cf a vapcr
Bay weet also procured cost estimates trom two {1} applicable subcontra.ctors for inttdllation cf a vapct
barrier and ssos ueneuti'i-',e-two pr"p.*o,o*"r'J*'*i"lroi"gu' tutn withl fostpii*t of approximatelY
,.**,0""..,"::t1T: ji*HlrJ,:'J#*::.',#y+:n:'il'+:::.#11?iT''il'""1"n
Radon for these ser$lfe
this remediat ,o* uu,trn'.r'*'i", il*i "r* ,h. n;;.;;l*rt" lo' the final value which reptesen* a
;;;t-;;;; scenario estirnate to tornplete site wcrk'
Summary sl fost Estimate Spreadfhe€t -^- ,J;he.trav FrlFpJtsEs OI{ly"
Thecogtestima:esFread'hert,entitledBay.we'tcoslEsdmote.'FfSsUt]6fTARyFtlfiFosrs0ft|1y..
i5 attached ro rhis ;;;.-;;";mary oescriffi "i ",tn ta5k and.the tabor' equipment' and
eub{ontra.,or! inooru"iT'iuri'*-iuu u*i.n"a t"" t"t*tt' spreadsheet for additional information"
1P.O. Box l3lsgz,Roseville' Minnesota 55 1 13 Phone: 612-61 8-091 7 Web: mnreaDpraisals'com e-mail:
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET'G)SET,PRINCIP'41
DESCRIPTION OF STIBJECT PRO PERTY REMEDIAL COST REPORT
SOURCE BAYWEST
@rorrc*r
Tasft 02 - VaBor MitiFdtion and SBmplins
Laborincluderfieldoversigtrtof$sDsandvaporbarrierinsfillldtio.n,alongwithtworourdsofpo*-
mitigation sampiing p"r'ilpCA guitance- Offi.* ii; ilil;t genent pmieet management and
preplrotion of the RAF lmpletrelrtation report-
Equipment includes ertimatei for a FtD' vehicte' Le"'el D FPE' and a GF5 unit'
SubcontractedServicesincludesertimateswith2o}6rnarluplforssDsin'tallation'vaporbarrier
installatbft, and lab "nurTtiruii".=
asso,f,hted with Fosr-mnigation rample analyris'
f,losing
Bay}tlestapp'reciatestheopportunitYtocornpletethisbudgenrlesti]fiatefortneMPGA.lfyouhaveanY
questbns or co,n.".n, ,"*"iing this proiecr, pleas€ ;;;it usirE the information provi'ded below'
Fatnle.r GetFressed
Rernedial Co*t Eetimate
Fahon fiN
Respectfu llY 5u btnitted,
FC
Proiec Manager
tlovember 20?4
{"4!t^{,yr,#-
S€nior Proiect Manager
J2410S8
28
1
P.O. Box l3lsgz,Roseville' Minnesota 551l3 Phone: 612-6 I 8-0917 Web:mnreaDpraisals'com e-mail: cgoset@comcast'net
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G2SET, PRINCIPAL
DESCRIPTION OF ST]BJECT PROPERTY REMEDIAL COST REPORT
SOURCE BAYWEST
tsnrmr BaY tlVest Gost Estimate
'IFOR BUtrGETARY PURPOSES ONLYS
flJ T&'iER I|ATIE: f,PCA
PRO'ECT Mi{E: Rcinadlirl Cost Eitim.de
SITE MIIE: Falcol lieiglrt= BF26S5
SITE AI}DRES$: l{07 Larpenteurlve l{, Falcon tleights. ilH
SAY tfEST PSoFosAL M0.:,#l4lill8
AATE: llnfl?
t0irh
FlaFct lrllaGtrt. effil!|*. ilrctho I rddilfi
ttrct €:$lttHtjtil9o.rn.l. , {lrt-t
8&E artdtgd*B | l'!.t.l0.I
rrrer I _
Toll I lJt.|[7.t
FI€FA|Ed ETBrtWe5tLLGs&FllDrftE
$-t Filf. Eil fh5lDl'Flsr€: 651-29ffid56Fil 55i-?Sr{OtRnsr.bilIE[Lcgn
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 29
1
Ti*0tI
SE tIartFftdmffiftl
E&*ru zEm:
ItGn F.t&I lnE
ET Ft ttr
Etr w ftr
Ittr q frd I la6
I ff
-
Itu Edi!4 Fflll bidlfi
kdkktffi#
lrdfl
-
iffir(ffii-dltltUrlh3r l{ lrcqErlElhrSofl6mlF ttn!
tillFd tFtdrrqpGtt d*r'{ltEdlcdeGd!t4d dm iD I ?m
t grlt
blffnm
0eIsn
5f,ad I tmfi
ftd *tta I r&fi Wiht'FBEHETNtrddldr
It*il *{n I lsm
t t6E Fu-€PalFCbuErnl0,
t?il 6t I trf
gt EO.I flm
trfi q SE I fir
-
rF
l@dr!-ryFlr
t3H€llilaEctdrml-: ddu.tl1ail TE It t f,rm
brff tdEi
MINNESOTA REAL ESTATE APPRAISAL SERVTCES, LLC - CLARKE T. G)SET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY REMEDIAL COST REPORT
SOURCE BAYWEST
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 30
1
I
*sl{E*
B{
iE
$$
$
$EiEFF,fr!=g'HE*s
3!EEg
#$i€
'{,F"
ltj
g
e
6
$irl
6l
o
3
o
t]t
I
I€,
cI
g
E
4
$
Ea
IsI6t
2sIa
MINNE,SOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET'G}SET,PRINCIPAL
CT PRO PERTY REMEDIAL COST REPORT
DESCRIPTION OF STJBJE
SOURCE BAYWEST
Et:ttI
tFa!
n
tlci6g
il
6
I5
{lE es*
B H3Fi iiH
E EqIIH
,itiliE
o
C!bE
Ea[f,Aa-EaLL
t4q,o'tr
RT
.to!o
$E
=E[,>.Eo(aH
ul
1s ff--ti nliesj f illflllli"*{-;rtt [["
No
gllr
P.O. Box l3lsgz,Roseville' Minnesota 55 1 l3 Phone: 612-61 8-09 I 7 Web: mnreapPraisals'com e-mail:cgoset@comcast'net 3l
MINNESOTA REAL ESTATE, APPRAISAL SERVICES, LLC - CLARKE T, G)SET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY REMEDIAL COST REPORT
SOURCE BAYWEST
Budgot Numbar
Ltndvrqlt. ctntan r:tfonr lrls,
F. O. lor 10lt
St Cloud, UN t63$l
Phofto {t?el t6l.r4g{
Fax (3lO) l5t-2380
JdLon Saoh
Frrtsrsd !y -
Lfitrlhr Cotr*uain lq.&6ptld b,f i.Sirlrdbr{l
rlr!+'!!t., - *___="*g#TdB.6!mp€r1
Pr€{ry3ll ldi* fH l0 0nt8
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 32
1
Job l'rrre
ri {r|r :il
htrnh4 aFrrlt rpdf6dss rrd r5!fit6r {* ?tffl CY Eoll Culrnloe4lff lxErEton rnd Dlrps.l
lllrlrr Cmdhlonr I lilo d pqrlomon r lill f,rrL. F.6t nippin0, 6.dnd lhrr, El-hh.t ,.ac.,t
6jd
Cirnpdrbh flll
Air lloFilrrlnt
l{0,000,00
Cl-lllcdlm!
Esludrd
ElaflngBdbnlr
T+blEid: t
iloarlllHlioflCant$lmtrd Seil Ercovaahn
CL-tue $d €rubbhl
Phflln0 Soarlrd*r|r Roekkrhrll*rCfi!lruEtiff l!e!
FFolrE
Gcot6{1. Frb'1.
Cs$trb. Pftiho sr th4tffrliqst lnd Cuiliriilutr*rfl! Peingtnflk Coftlrol
g.rd, t fteqsb.d Add l!4
Prrmlir, Fa{., 8!n|}rnfl, I raclltr{
td!lr6bd. lil*n. Frorlin{, d VaOtr 8rfti(r
Soll Gorruc*on
Rool ElsmtionOc*llrylq
rmchlrs FI|l* hsdlil+flShittio. SlErll{, d 3*int
SWPPP F!.mit
MINNESOTA REAL ESTATE APPRAISAL SERVICES ,LLC. CLARKET. GOSET, PRINCIPAL
DESCRIPTION OF SUBJECT PROPERTY REMEDIAL COST REPORT
SOURCE BAWEST
ffiF
Frx: ?fi}/?l'tiTt
ilab: 8"NaF{01{
Ou*{h 24110S05
EY EsnitiEr
rocarion: ffiifr:ffi$v**ffi*
5"5sn 1rr*ghCIB' ttlHTG:.
E'rWcgl
mbed Elrl(€ly
ssg,a44$3ES
E*fmate 1?13$l3o
24 Btyur€*t t{I7 LatFErftrAYeW F bon Hcight8 c-sdt Ercacalton 700gY.l(hx Po{te I sl I
'J
P.O. Box 131 sgz'Roseville'Minnesota 55113 Phone:612-618-0917 Web:
cgoset@comcast'net
17
MTNNESOTA REAL ESTATE' APPRAISAL SE'RVICES'LLC - CLARKE T. GOSET, PRINCIPAL
LIBJECT PROPERTY REM EDIAL COST REPORT
DESCRIPTION OF S
Touncr BAYwEST
fr RAG'F{,EL i :*ll"l',, losr*':
EUDGET FRIGI}I6
Hovernb€r 72'?fr74
PRQJECI:
Eob Blakely
Bav \rtest LLC
ccit: 6{?-B t tt-9287
latiietvGuavwesteom
$
BU6CET:
fi.ICLUFES:
EICLUOES:
Thank Yau ior
r ftlobilizati'anlsuPervisionr ciw permit
on & erosion eontrol logs. lnstall inlet Flot*ctlI i*"*tt" uituminous Pave$ent
I ,iii* *"*r for duet contral: il;;J;t ":q:1fi'"H:lf5rn a eemmereiar pit
r lmpert and Pl:cepranure' nt.*Gi' well Sealing' UST
*sr,#*.m,#;flm+r#n*:*"ffi r*s$,,r"
theoFPortunitytosubmitabudgetproposalenthisprclect.Fleaseleelfre€t'c.all$|ithanyquestioft:.
{un -{t*t
l*,5tn1otlita""i rc nmental Team Leader
hffi *'i;#1"'f l:.,,""-"..
34
1
r, I r il-:'i l' 'r I "r'\"r'l
r,,.1 ril! r, I
I ,i I1,' l "ll"'lli :l 'r"
P.O. Box 131592'Roseville, Minnesota 551 1 3 Phone: 6 12-6 I 8-0917 Web:
cgoset@comcast'net
MINNESOTA REAL E'STATE APPRAISAL SERVICE'S' LLC - CL.4RKE T' GOSET' PRINCIP'41
DESCRIPTI oNoF STIBJECT PROPERTY REMEDIAL COST REPORT
SOURCE BA YWEST
Minu*scftr Rads$ SPecinlists
4[59 FeruYhuua '{l-e
Eserl" hlN 55Ul
Phoe: 611-940-3?96
Euarl: ser"ice''iSatloomn'eou'
Mlrnesrts Rodon SPedolls{s
' - ",i-*oo* rttl.'e$a''ri*'
Prop*rrl $ubmitt*it To: Rcb Blakelv D*ft: $g1tetlb€r 0E' ?0?4
Bay \Trzt
Billiug.lddr€ea: 5 E:oPire Driue
Ciqi Statc Zig: Sairt Paul' I{N 55101
Piorer {61?) *14-918?
Eueil: rblekelY':@BAYSE$T' com
Joh S;tr Addrcaa: 14S? Larpeuteul Ave W
Ciq, St*t" Zip: Faleou lleigtor:' lvlN 55 1 t3
depressurizetioc :ysteu to Bob Elahely
Radoa SPecialist:heebT lnbmit: :Peei6crtiocs auil egdsareg fur 5rrb-'Jab
(oaner) or
ln consrderauoo
i€eat sftb€ FruFs!*Y
oftb* PaYoent of $ I 5000.
at tr40? LarPcnieur
hliue',ota Redou
Ale W FaleooMioae=ota locaieil gpeciali:ts a'ill cosPleie ihe follo'rriag worh:fleiEhb. hfH 551I3 (hoPerrtY)'
Ilstll} a lub-glab degre::ruizatior elT teo wbicL beludls labot' &atErial and:
* gldgs6ry E:tiur - ----^-L,,ricr Len€ath two, :500 sF footprint to!*hooe buililirEs
t ltr3bll 95DS systern i*gfuiling teporburier b*op
IgEludelFres3luefie}de*ten:hooielugaftersysteoactivatrou-
Price valid for 30 daY:'
TOTAL COST: 515000
DtE o:r J0 dnYs
Au&,orired Signeture of OlroerlAcrot
cgoset@comcast'net 35
1P.O. Box l3l592,Roseville' Minnesota 55 1 1 3 Phone: 612-61 8-0917 Web : mnreaPPraisals'com e-mail
MINNESOTA REAL ESTATE APPRAISAL SERVICE'S' LLC - CL,RKET' GOSET' PRINCIP'41
OF SLIBJECT PRO PERTY REMEDIAL COST REPORT
DESCRIPTION
SOLIRCE BAYWEST
VOC Mitigation Pro,Po9,3J I CoY\^r]'*##ffiffiflffPj*'ntract
36
1
ProPosal Date:
Ltlwlz4
Quoted coit:
5r,oOO.oo - $s,soo'oo
wllame:
Tot,vnhome Building sl
BaY West
Robert BlakelY
Proiect Manager
612.-8!t-9187
rhlakelY@bapuest'com
ProFo3al Submitted Tor
sta n da rd :. *l:-"j-:-H'j::ll? r'rT:T
{ s s's } I
construstisn approxll
For Budgetary purpores
ProPoral AccePted BY
n*allation fer Mult'rFamilY New
onlY
Vot6"&fiV7.+ta{ s.a-zt
Progosal &ubmitted By
sesi6n i'T::'[1',1"$J$Iff :::*rora*s'ls-surr:::i;]',:-TiJ-illTHf "Mitigation
: il; ; ffi with the ceneral contrador lor tn" tT;;l*
nritigat'ron' - - . , -, ,ncJuded in ctuve litted: li, ;ii;'.{ 1l1ljli ',Hfi ;:1,","tr;,T::ll ;;;;il*. i,,*o * *' n
r HsS shall SUpply and ln$dll ru rrrr '"r-
-- -^ ^-^-Lti.f< ,ft", aonarete is por.rred'
: flk*, prfornr pre-mitigation dl1'*"nl':'Yj:tated BMP clrecklists after c
: ffi ;il;,, ** *"Jl ".*I"lll-::::*til*: ffit';. to rocar gowrning bodies'
r HSS to provide "t"n"iil;;;;iu'" unat' 1'"? -- ,n*,* or the srab' vertiel risers runnins from the
: '#i"il:1f ,.::.ifr1*lm15*,t*U0,.*';, .;;;,tion a*ows. . -rd ,rp to 4 mobi,izations,' ;;; ot tfie sleb to the loot to *::::::;.Jon no'{r-prevailins $'ase rates ar
: l:".',:ffiii*::ll,n:r,""oi'lH.T{lit*'.T".n,* poet Mitigation Diagnostic checktist and
r illS shall complete Poct PFE terting' Active sy;ter
OM&M .. ,--..^.+^frnr
r General ccntrsctor to provide t-t**:: :?::'
I General contractor to flash roof penetrationl'
Pavment: nt drre uPon actePtance
2O Percent dowlr PaYtnel
Hl[Til:T*'-:i'ffi Hi#tjs*"f,jljf;H}';::'"*,,nnancecharseor15'd
AnY unPaid balances ant
lAuthcrired
P.O. Box l3lsgz'Roseville'Minnesota 55113 Phone:612-618-0917 Web
cgoset@comcast'net
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC 'CLARKET' GOSET' PRINCIPAL
DESCRIPTI oNo F STJBJECT PROPERTY REMEDIAL COST REPORT
SOURCE BA YWEST
CONIE.{CTOR PNELIES.I I\ OTICE
*61AI*'PERS0NORCoIIIPANI-.flIPPLYINGLABoRox'lL{TEaLilJroRTEIS
r*rpnorT'rtrl,.r ro ffii;;*Jnqry ttoTiti"'o' iu*t r'c'rnisr ''oER
PR'PERT'" rr
rEAr PERsoN oR c;;;''|il;li xor r'06-ron rEE coNrRlBurrol'{s'
iB}lINDERlItr{Nf,soTAL{$rJoLE{\iETffiqgg]oFAYPERsoIqs$rEo
sa,,pLr'' *o* o* iirrsn ,*r* ro1ffi *i""o"o*tiiinicl'Y ^oPg'scr
rEIs
Auotit{r F*o* o"iliil'ii*oo uo*##I ---o* tm llioitlrrs DtE rffitr rRo}I
rrs rnrrrl rro o^"riifr* ioo*r,"t oJi' Fnenotd;r'ff i*Isss lY -cr!T
YoG a
L'ET{ *''.A,,.ER *rr#o u:t r"n'gryryI- o H*'"no-uott' r"is;nbn il{rERL{L FoR rEL
,nrp*o\,nuf,NT *il"nuilo ;t* You TTItilELY N'TICE'"
fi lr/aW"refur***Y11s-!r
Date
Hsrne Safety Sal$tiofis lnc'
Dste
Authorized Signature
cgoset@comcast'net 31
1P.O. Box l3lsg2,Roseville'Minnesota 551 13 Phone: 612-618-0917 Web mnreaPpraisals'com e-mail
MINNESOTA RE,AL ESTATE APPRAISAL SERVICES' LLC - CL.4RKET' GOSET' PRINC]PAL
ECT PROPERTY REMEDIAL COST REPORT
DESCRIPTION OF SLIB]
SOUNCT BAYWEST
,,ffi,',
VOC Mitigation Pr-o,qo:,ll / Contract
' v v
;;l;';*gfu+,'Eiiiffi-*.U;tr'
'ffat@t'*.toafutysolutionslnc' com
FtoFosal Oat€:
llla7lt4
Quot€d f{stl
$z,ooo.oo - $r,5oo'oo
1407 Larpenteur Ave
falcon Heiglrt:, MN
Location:Job wHamel
To,vnhome Buildin5 t3
BaY West
Robert BlakelY
Proiect Manager
612-814-9287
rhl akelY@baYwe 5t'€orn
Proposal Subllritt€d Io!
Standard Services - Mitigation SYTTI TSSDS) lnstallation
a"ttitt",itn approximately 2'5oo SF
For BudgetarY PurPorer onlY
ProPosal Aci€Pt€d
for Multi-FamilY New
4r/" fiA" Afi6,v*v1{ *a_tt
ProFosrl Submitted Ev
Detign & lnstallation of artive 59DS .ping vapor Mat for attive Mitigation'
I nta to provide system designfor all stdr-surface Pt
r H55 to work with the ;;'*"i ;;"';"ctor for the lT"oon of vertical risers'
: xH :1il':illi*'Jl'1:l lrun i:l':"m:::H n:'ffi::H]s * "o"*uded
rn obove ris'[ed
Price
rH$$shallperformpre-nritigationcliagno'dicandrelatedBMPClrecktistsafterconcreteispoured,
r HSS to *rpply fans ba'"i t"" ot"-^ftf*ation diagnostk results'
rHsStoprovideut*tt"J.on,,eletionand^cocro|'*..i"'oon.tolocalgoverningboelieg.
: ;;;;'," be desicned for sand ba+e under srao'
r stubbing fo, r u"*i.uiiil"r1rri,io.i"-rinated at the top of the slab' verticaf risers running fronr the
:ffi **f:5,;:l',',,ft ,t;n*.;;*r*:;H:'-Y':x*1ffi sand*ptc4mohiri:atiors
i Xi;:ruru::lil'gr*:fi':,t#i-'l'"*l'n';.u,*, Post Mitisation Diagnostic checkrist and
OM&Mr General coiltra(tor to provide power to fans'
r General contractor to flash roof perretrations'
Paytnent:
mtp""-"t tlown payntent due upon acceptance
Additional 5ffd due upon conrpletion o{ pipittg-,
:ilffi lil:;.},flx1til*lt'o";;il:l1f :l,iiltii*i','il'""''nnancecha'rseor15%
By lAurhorited Eignaru r.l
cgoset@comcast'net 38
1P.O. Box l3llgz,Roseville'Minnesota 55 1 l3 Phone: 612-61 8-0917 Web: mnreapPraisals'com e-mail
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . C,LARKE T. GOSET, PRINCIPAL
DESCRIPTION OF SL]BJECT PROPERTY REMEDIAL COST REPORT
SOURCE BAYWEST
COI{TILA.CTOR FBELIEN I{OTI{E
*tA) .{tft' pIRsoN oR co}IPANt!' SLTPLYING LABOR OR ltf{TERL{LS rOR TEIS
IIIPRO\T]IfiITT TO }'OLIR PROPERT1'}[{}* TILE A LI[S{ AGAINST YOI,T. PROPERT!. If
TE{T PERSON OR COIIPAT{I' IS NOI PAI} fOR TEE COITTRIBIffiON'S.
{B} UNDER}IINNESOTA LdlY, YOG EA\T TIIE RrGHT TO PAY PEBSONS rlTr0
SIiPPI"IED L{BSRORIIfATf,RTALSFORTHLS IffUROITHENTSIRE(TLYAI\fD I}EI}GCT THIS
.{MCIT${T FROII OIIR COTTTRACT PRIf,E OR IIITEEOLD TEE AMOIIFTTS Df--t TEEIII FROTI
tls TI}ITIL U$I}AT'S.{FTER COMPLETTO}{ OT Tffi AIPRO1ZIIETTT TTNLESS lllE GTIT}'OUA
I.IF-N TTIAIIERSIGNEI} BY PERSONS ll:EO STTPLIED AIYT'LABOROE }f,.I.TERf,{L TOR Tffi
IMPROITJIIE}IT A}III }V O GA}T, YOU TI},IELYNOTIC,T,.'
*,htaab*v,,*.^
Authorized SiEnature hte Home Safety Sclutio.ns lnc-Date
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 39
1
l
I
t
I
l
I
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC.CLARKET.G}SET,PRI^ICIPAL
DESCRIPTION OF ST]BJECT PROPERTY-NEIGHBORH ooD
cgoset@comcast'net 40
1. Land Use & Urban Form
. Commercial Corridor:
o Larpenteur en"rrr"i, a two-rane arteriar rined with row-rise, single-story commercial build-
ings-coffe. rt op','iircfti*itt ttt1"*"ttt' small retail and service uses'
o Bu'ding footprints typically range;;"i,000-5,000 sr, *ittt parking lots to the side or rear'
; Institut-ionalEdges: . -r r,,-,^^^^rn)cet Dqr '. of VeterinaryMedi-
o Directly east rel'theUniversity of Minnesota's St' Paul campus (college
. i "i it"pt"1 c 9y9'1,!.'""" "ir'e't q # ::Tt il l;fl"am I in e Av enu e .
o
-
Con.otdia University's campus sltl
: t#tiljlllTH'f$* of rrar,renteur, treeJined streets of modest single-familv homes
(bu't 1e20s_1e60:i;il.H;; d"pi;; u.a ,-uu "p**."iu"ii;irtr croier to Snelling Ave-
nue. r 1 ---^ ^^+,ar6 ol,"rs end manles. and decorative tiont porcn-
o yards are well-kept, with a mix of lawn, mature elms and maples, and decorative front porct
ES
1P.O. Box l3lsg2.,Roseville' Minnesota 551 13 Phone: 612-61 8-09l7 Web: mnreaPPraisals'com e-mail
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . CL.ARKE T. G)SET, PRINCIP.4L
DESCRIPTION OF SLIBJECT PROPERTY-NEIGHBORHOOD
2. Transportation & Connectivity. Vehicular Traffic:o Larpenteur handles roughly 15,000-20,000 vehicles per weekday, serving both campus commut-
ers and neighborhood shoppers.o Snelling Avenue (one block east) carries the Metro A-Line Bus Rapid Transit, offering 1O-minute
headways into downtown St. Paul or Roseville.
o Transit Access:
o A-Line station (!'Fairview Avenue") is located at Larpenteur & Snelling, a 3-minute walk from
the subject.o Several local Metro Transit routes run along Larpenteur (Route 63) and along Snelling (Routes
84, t62).o Biking & Walking:o Two-way buffered bike lanes on Hamline Avenue connect north toward Lexington Avenue and
south toward Snelling.
o Continuous sidewalks on both sides of Larpenteur, with pedestrian-scale lighting and street trees
installed per the 2040 Plan.
3. Demographics & Market Character. Population Mix:
o A blend of University-affiliated students and faculty (35 % of nearby residents), young profes-
sionals, and long-term families.o Median household income within a half-mile: $60,000-$70,000.o Housing Tenure:
o Approximately 55 o/o renter-occupied (apartments and student housing), 45 Vo owner-occupied
(single-family homes).
o Daytime Population:o Elevated midday foot traffic from campus staff, veterinary clients, and university visitors gives
the conidor a "small-town main street" feel from 8 AM-5 PM.
4. Amenities & Services. Food & Beverage:
o Several coffee shops (local and national), a bakery caf6, a deli.style lunch spot, and a quick-
service Mexican restaurant within two blocks.o Retail & Services:o Dry cleaner, fitness studio, bank branch, and a small pharmacy.
o A full-service grocery store sits one mile west at the Snelling & University intersection.
o Recreation & Green Space:
P.O. Box 131592, Roseville, Minnesota 55 I 13 Phone: 612-618-0917 Web: mnreaopraisals.com e-mail: cgoset@comcast.net 4l
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY-NEIGHBORHOOD
o Langford Park (lwo blocks north) offers playgrounds, picnic shelters, and basketball courts.
o Mississippi River Greenway trails are a 10-minute drive west, popular for biking and walking.
5. Development Trends & Outlook. RedevelopmentActivity:
o A-Line BRT spurred fagade upgrades and the adaptive re-use of under-performing strip-retail
parcels since 2020.
o Conditional-use drive-throughs (coffee, bank) have been approved on a handful of corner sites,
indicating demand for high-exposure formats.o Planned Improvements:o Sidewalk widening, additional street trees, and "bump-outs" for safer mid-block crossings are in
the City's CIP for 2p25-2027.
o Potential tax-increment financing (TIF) districts may subsidize small mixed-use infill projects up
to 5,000 SF.
In sum, 1407 Larpenteur Avenue sits in a dynamic "edgy" zone-anchored by two universities, ani-
mated by bus rapid transit, and framed by a stable mix of commercial and residential uses. The corri-
dor combines reliable vehicle counts, growing pedestrian activity, and a trend toward small-scale re-
investment, all of which support a neighborhood-serving retail or caf6 development.
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 42
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'L.4RKE T. GOSET, PRINCIP.4L
DESCRIPTION OF SLIBJECT PROPERTY-ZONING
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 43
1
iiliiiii
iiliiiii
iiliiril
tiiiifii
liriiiiil
,iiiiliiiiill!rlliii
arrfl
",.;lii
-lt l;
:r
tttI
nl
ti{l
aI
i
!
j
l
I
I
rlr,t,"t I
ilt;i!;;!itl!!il
{ilyoFrDrt
l,
irrjiit!
f
o
>6
=xE€
ri
ss
=s
!0
-o
Ei,ZJ
AE
ffil
o)ccoN
z
.Eiats
dd
ttv@.._....
,"8at6o-uEA*.?oE'8 E ;EE A gE-F € g€E,"A dA?44-eq.{;iq!a!4!;;i{:
r+ 5 4 4 i E
-FNOr*JEO O 6 C 4 O
F Ilffil:Lr
tr
{}'ii:ffi,1
tlEfait
lirll
I
i:l H*l
i
I
ir
I{,
8
,
I
I
i
t_
il-&,
l,
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC - C,LARKE T. G)SET, PRINCIP. L
DESCRIPTION OF SLIBJECT PROPERTY-ZONING
Sec. 113-177 - B-1 neighborhood convenience district
(a) Scope. The provisions of this section apply to the B-1 neighborhood convenience district.
(b) Purpose and intent. The purpose of the neighborhood convenience business district is to
provide for small-scale consumer goods stores and limited service establishments which deal
directly with the customer by whom the goods and services are consumed. The maximum
business size limit is 5,000 square feet. Some business areas may be further restricted by
zoningregulations to avoid adverse impacts on residential neighborhoods. The district is
primarily intended to serve the surrounding neighborhood rather than the entire community.
It is designed to be accessible to retail customers from the nearby neighborhoods, to be
compatible with the character of the neighborhoods, and to minimize the blighting influence
on surrounding residential neighborhoods by limiting and controlling the uses that are
permitted.
(c) Permitted uses. No structure or land shall be used except for the following specific uses:
(1) Barbershops, except barber colleges.
(2) Beauty shops, but excluding cosmetology schools.
(3) Convenience stores, excluding motor fuel facilities.
(4) Coin and philatelic (stamp) stores.
(5 ) Drugstores/pharmacies.
(6) Florists.
(7) Garment pressing, and agents for laundries and dry cleaners, with a maximum of six
employees
(8) Health care, offices and clinics.
(9) Laupdries - power, with a maximum of six employees.
(10) Laundromats - self serve
(11) Miscellaneous retail establishments (small) (excluding repair and service
establishments and gun shops) having a maximum floor area of 1,000 square feet which
sell food, apparel and small specialty shopping goods including antiques, sporting
goods, books, stationery, jewelry, cameras, novelty and optical stores and small cafes
and restaurants.
(12) Offices, business and professional.
(13) Holiday tree sales.
(d) Conditional uses. The following uses are permitted subject to the issuance of a conditional
use permit (CUP):
(1) Automobile repair establishments subject to the following conditions:
a. The use is existing as of the date of adoption of the amendment from which this
section is derived.
b. The structure and use shall not be expanded without city council approval, based
upon finding that the expansion is a furtherance of the public health and safety and
will not negatively impact the surrounding neighborhood.
c. Any change in use shall be to the same or another B-1 permitted or conditional use.
d. No more than five cars shall be parked outdoors overnight at any one time, and
cars shall be parked in an orderly fashion in a designated arca.
e. There shall be no outdoor storage of supplies, materials or trash.
f. Trash containers and parking areas shall be screened from view from residential
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 44
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C,L.4RKE T. G)SET, PRINC,IPAL
DESCRIPTION OF SLIBJECT PROPERTY-ZONING
areas to the maximum degree practicable in consultation with city officials and
upon approval by the city council after review by the planning commission.
(2) Adult and child care facilities and nursery schools subject to licensing by the state.
(3) Motor fuel stations as an integral part of a convenience store located at the corner of a
minor arterial and collector street as defined by the comprehensive plan.
(4) Secondhand goods stores as defined in this chapter.
(e) Permitted accessory uses. The following uses shall be permitted accessory uses:
(1) Off-street parking and loading, signs, fences, and decorative landscape features as
regulated herein.
(2) Temporary construction buildings (approved by zoning administrator).
(3) Accessory structures other than private gilages as regulated herein. The design,
placement, screening and size of the accessory buildings must be approved by the city
council as being in harmony with the surrounding business district and neighborhood
after review and recommendation by the planning commission.
(4) Essential service structures, provided no building shall be located within 30 feet of an
abutting lot in an R district. The placement of the essential service structure must be
approved by the city council as being in harmony with the surrounding business district
and neighborhood after review and recommendation by the planning commission.
(5) Public telephone booths or drive-up service. The placement of the telephone booth or
drive-up service must be approved by the city council as being in harmony with the
surrounding business district and neighborhood after review and recommendation by
the planning commission.
(6) Planned landscape areas and edible landscape areas, including residential gardens, as
defined and regulated in section 54-38.
(7) Electric vehicle chargers for public use.
(8) Other as deemed to be normal, customary, and incidental by the zoning administrator.
(0 Other requirements. All uses shall in addition to all other requirements comply with the
following standards:
(1) No bars on doors or windows during business hours.
(2) No automatic interior or exterior security lock doors or doors that require request for
entry or exit during business hours.
(3) No exterior storage of merchandise except for nursery stock associated with a florist.
(a) No exterior sales of merchandise except for a three-day period twice a year as a
sidewalk sale or for merchandise associated with a florist.
(g) Lot area, height, lot width and yard requirements.
(1) Minimum lot area 10,000 square feet.
(2) Maximum principal building height two stories or 25 feet, except as provided by
section lI3-243 of this chapter. Accessory buildings are subject to section Il3-240.
(3) Minimum lot width 90 feet.
(4) Maximum building/use size 5,000 square feet, except where otherwise noted.
(5) Minimum building yard requirements:
a. Front, 30 feet.
b. Side, ten feet, but 30 feet if abutting a street or R district.
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 45
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - :'LARKE T. GzSET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY_ZONING
c. Rear,20 feet.
(6) Maximum lot coverage, including the total area of roofs, driveways, parking lots,
sidewalks and similar impermeable surfaces, 75 percent.
(code 1993, $ 9-8.01; ord.No.0-93-07, S 1,7-28-r993;ord.No.0-94-05,52,3-23-1994;ord.
No. 0-95-01, $ 2, 5-10-1995; ord. No. 0-99-09, $ 4, l2-15-t999; ord. No. 00-02, $$ 2, 3, 7-26-
2000; Ord. No. 19-01, $ 1, 1-9-2019; Ord. No. 20-07, S 3,12-09-2020
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 46
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKET. GISET, PRINCIPAL
DESCRIPTION OF SI]BJECT PROPERTY-COMPREHENSIVE PLAN
City of Falcon - ZA4g Comprehensive Plan
l|ftri,ig,,ii
Ial
II
t
$i
]
lf
i
:iirii
tI
tt-bl.-boN
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreannraisals.com e-mail: cgoset@comcast.net 47
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - c,L,4RKE T. GqSET, PRINCIP,4L
DESCRIPTION OF SLIBJECT PROPERTY-COMPREHENSIVE PLAN
City of Falcon Heights - 2040 Cornprehensive Plan
s*E€ oQF.*a5 Hg
(D (! Ol'EEgd1' 6r Eat'r: dgii d sle:c; FTlE cE0, o-L O0< ts>rg()
ua,F{:Id-
\ll
E+
;;.fl-gr-.
fl:1'.,7
f=;€
-i
3
i.;
.EI
6 i R-t--I:=Zi.t!-_i i?-Li'a(t_.i";;r?iiE€ih3 lgPitIIiorlii.i:: :=,iE;;g5trtiii-:1Fgg:i:iiFi5:{iii*?;:!€-e=€E€Bt5:::i!ili!EE?Ezii:!igiq z) @i,EI I ilrl ;.Ill
., Property designated as B
'(, -l (Neighborhood Com-
The document states that
1407 Larpenteur is a
area of 0.5 acres. This
type of zoning is intend-
ed to provide limited ser-
vices to small local mar-
ket areas. It is noted that
these areas are not in-
tended to expand beyond
their current boundaries,
and any changes in use
will be reviewed on a
case-by-case basis.
+r$
I
z
a
-IiI
Ii
tI
Ii
!
rl
t
g
i
I
!,
!I!,
lI
i,I
tIs
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 48
1
MTNNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T GOSET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY-PLM MAP
170.1
,z'
r407 _ 1!07 1397
1.,
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 49
1
1701
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . CL,4RKE T. G]SET, PRINCIP.4L
DESCRIPTION OF STJBJECT PROPERTY-PICTI]RES
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 50
MINNESOTA REAL ESTATE APPRAISAL SERVICE,S, LLC - C,L.IRKE T. G)SET, PRI^ICIP.4L
DESCRIPTION OF SLIBJECT PROPERTY-PICTLIRES
t
{
tBy Order ol the
Gity of Falcon tletghts FIr9 illarshal
Thts Structure lt Dsclarsd Unsafe or Unflt
fior Human OccuPanGY or Use.
\i"/'5
tt b Unlawtul for Any Petton to User OcGu;tXl, '";
or Pe,rmlt t{re occupancy or use of thlg Bulldlng
Aftoc .- :l- ' I -t
Afirctr:Flre tarelel:
grta:ArG-E c:-
Iifslril..ilalb
i*.i'
t ti.a.r trQ d l.'1 * Idbr S$ tor ft ll.d f,llllrc
AlU.t}llL.tl.|Hl.
nnyprronFlrthad!f lrLesilftbglt,rfnrl toCtr
{0drF ot
ootl|tdt
t,.
P.O. Box 131592, Roseville, Minnesota 55 I 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 5 I
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
DESCRIPTION OF SLIBJECT PROPERTY-TRAFFIC COLINT
Subiect Propertv
TRAFFIC COUI{TS
QtJ€".*rltood Dr
ilaple Knoil Dr
ct)
3A'.(_
@
an
Hollywdod Ct
@
COUNTS BY STREETS
{
U'
Garden Ave
Crawlord Ave
@
l"arpgnteur Ave W
9cardenAve O o
Tguo0
g
3Itv,o3
Faleon
United
Heights
Church
o
IE2
Gaaden Ave
Ecralaaz
3o
e
ah
o
D
U'tn I5o
oz
o
?mi;r,n:rf o
ao9l California
Roma Ave
Larpenteur Ave W kaent"ut
1to
at(:oo-
U'
{l
ccc
turo"n,*,f)**tItq,os
o
=ItI calilornia Ave W I
ldaho Ave W
z qAve W
o
Io3 ldaho
ID
o
U'
Ave W
3
Map dara,ol0?5 Googlc
Collectlon Silet CroE Street - l]irEclion Traffic Volune
261
Count YeE
2025
DMtrom S6ject
0-05 mioo
N Alberl St l-arpenteurAveW-S
Norlh Albert Slreet HoytAve W - S 315 2022 0-05 mi
401 2025 0-t]8 mi
r4,680 2825 0-08 mi
1I,676
4,121
2024 0-09 mi
2022 0-16 mi
N Albert St Califomia Ave - S
N Fascal St - W
N Pascal St - W
wy.*A*-S
Larpenleur Ave W
@cHro
QHamtine
Qni*rin"
Avenue Norlh
Ave N Califomia Ave - N
N Garden Ave - N
7,005
7AM
0.19 mi
0-22 mi
2025
2n24
N Aibert St-E 916 2025 0-23 mi
Street Califomia Ave - S I,300 2422 0.23 mi
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 52
1
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINCIP.4L
NEIGHBOR ANALYSIS
1407 Lapenteur Ave W, Saint Paul, MN 5511$6304,Ramsey Countv
iNEKIHEORS
Address
dlrnsl Namo
Oflnor Nom6 2
SEls FrlcB
Salo Dat€
Prks Per Sq Ft
Ftrilshsd Sq Frt
Lot Sq Fl
Lol Acr€s
Tolal Roonls
Bodrooms
Balh.ooms ffot8l)
Yosr Buill
Sloriss
Gamgs Cap8city
Sly,lo
Land Uss. Colrnty
LBnd Uso - Corolngic
Prcgorty Tax Arrount
Distanco {milssl
Address
Ovrnor Nan6
Ot/nsr Nams 2
Stle Pn6
Sato DBt€
Prica Por Sq Ft
Fnishad Sq Ft
Lot Sq Ft
Lol Atrs
Total Roo.ns
B€drooms
Balhrooms (Tohll
Yssr Buill
Sic{ios
Garngo Cap.lcity
Stylo
Land Uso.County
Lsnd U$€. CorsLogic
FropsrtyTsI Arnount
Dislarre {mil6$)
Subirct Proporty
1,t07 lBrponto$ Av6 W
SARIN HOMES LLC
$500
09/25n001
$199.83
1,t78
12,729
o.?f,22
Nslghb€'r I
Lrrpontour Avo lV
5ARIH HO'/iE8 LLC
s235,00O
o7R0a01s
9,17t
0.?105
commorchl Vscsnl Land
Gommsrchl Lot
t2,550
0.01
Neighbor 4
'l3gI Larpontaur Avo W
EEADLES FOBERT H JF
LlndErsn 5holl8
t420,mo
Tex: 0S081?011 $LS: oa,tl(v
t{l:l1
t206.ts
Tar; ?,037 HLg:2,illl
15,{80
0.3554
7
4
3
tt30
I
liLS:2
Bung6low
Slngb Fsmlly lhYolllng Plsil.d
8FF
36,{46
0.03
1701 Alborl gl tl
HEYEB
'IIATTHEW
8
N€ighbor 3
1{ll lrrpontour AYs W
HLL ELTEN SMITH
l6a9,0oo
0earfzo20
t2&,u
T!x: ?,652 MLg: qolil
lt 504
0.{496
4
3
1921
Tax: l,tE UL8:2
ULS:4
Slnglo Frmlly ltrwltlng Plalt
od
8FR
18,7818
0.dt
Naigtftor 2
Smafl (Undtr l0000sfldst Hsi
ai
Commsrclal {NEC}
$5. r70
Subiacl Praporty
14{17 Larpont8ur Avo W
SAFIN HOMES LLC
$500
081254001
$19S.&l
I,176
12,729
0.w22
rutF' { -'
tlOS ltUoa sl H
ABDALLA IIOHAMED Y
t{r{,firo
0iul812(E5
tet9.3l
T5x: 1,730 ilLS:3,25G
8,568
0.t967
I
4
2
1977
I
Doublo o*olllng
Muttl F mlly Dwolllng
16,5oo
0.0e
Noigtbor 5
$240m
04n1tw[E
128r.73
Ter: 1,620 lills:3,?{0
8,588
0.1967
I
4
2
iszr
1
Doublo Oulolllttg
ilultl F mlly owolllng
15,iue
0.03
Noiglrbor 6
lru Hoftor 8l
ROBS NONALD C
Ro3rHsrFtuA
$$,0m
120.76
a066
9,920
s.frn
7
3
2
198C
2
glnqlo Famlly Dwulltng Pht
od
I 953
MLS: I
ts53
MLs: I
Sma,l (Undsr i0000sqdot RBI
il
Commorcial {NEC}
$5,170
SFB
ta864
0.04
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 53
1
NEIGHBOR ANALYSIS
Subiect Proporty
Address
OrJnsr Namo
Onner Nam6 2
Sal6 Fdas
SalB Dat6
Prics F€r Sq fi
Fhri$rod Sq Fl
Lot Sq Fl
l-Dl Acros
Taisl Rmms
Bsdrooms
Bslhrooms {Totsl}
Yaar Built
Slories
Gorago Capscity
Slyl€
Larid Usa " County
trnd Uss - Corsllgic
FroFerty Tax Ar!}ount
Diataoc€ {mnes}
Addrsss
OlrYnBr Flsm*
Chnnor Hame 2
Sal6 Pric€
SalG Bst6
Prha Psr $q Ft
Fanish8d Sg Ft
Lot Sq Ft
Lot lfrss
Total Booms
Bodrooms
Bathrooms (Total)
Year Buift
Storbs
G8rage Cap@city
Style
Land U5€ - County
Lsnd UE€ - C,orstogic
Proporty Tax Ainount
Dislaffi€ (milas)
1407 brpsnteur AvBW
SAPIN HOMES LLC
$500
mt25p001
$1ss.03
I, t78
12,729
0.?g.22
1953
MLS:1
SmoE {und6r lm0octdet Rst
al
Comrn€rchl {NEC)
$5, i70
Subitrt Prop8rty
1407 brp8ntrut Avs W
SARIN HOMES LLC
$500
@t25tffi1
$1 SS-8s
1,t7S
12,725
0.2s22
1953
MLS: t
Small {Undsr t 0o00s0rl€t RBI
ai
Commorcasl {NEC}
$5"1 70
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . CL.4RKE T. GOSET, PRINCIPAL
N€ighbor 7 Noighbor I Noighbor I
1rt02 l-rrponiour Avo W
OEGSOHGE KAREN
Wrgn r irrtthfle J
$331,m0
0msnofi
s203,8'l
Tar: 1,614 HLs: 1,9i14
6J5sil
0.15
8
rt
2
19116
I
ML8: ?
Slngb F mily Drrolllng Platt
od
8FR
t5,088
0,0it
N€ighbor l0
1389 lsrp.ntour Avo W
HBOHG AGNES S
f2:I0,000
tlfltr:m5
s1020{l
2J55
loFAo
0.23#
5
3
2
tc55
I
ilLS: t
Slngb Famtly lrwdtlng Pletl
od
gFR
$4,2C2
o.04
Noighbor I t
'1406 Lrrponlour Avo W
CHUIT FATEICII H
t73.98
Taxr i,i3i Mts: t,332
6,050
0.1389
4
3
2
ts46
I
ilLg: I
Slnglo Ftmlly Drwl[ng Ptdt
od
SFR
13,s6
0.04
Neighbor 1 2
ryn
lill6 Holton 8t
SAFI MAHEH IIUSTAFA
t2t15,{no
07ftwffiz
$r{g.{xt
T6r: ldl4 ilLS: ?,160
8,379
0,tg?c
7
3
2
19S4
TrI: MLs:3
lilLS:2
Spllt Lcvol
Slngh Frmlly Drrslllng Platlcd
SFR
E5rg40
0.05
1410 Larpontour Avo \lS
gOLLIg ALEC IUICHAEL
Botllg Emmo Rolo
1325,0{n
fax: OrU'lgE{Xh iilLs: orlJ!8t
?o21
1201.7{
Tax: 1,611 ltllg: l,8ll8
6,050
0.1389
.t
3
2
rg49
I
ilLS:2
Eungaloit
Slngb Frmlly Durolllng Plrtt
od
5FB
14,o(t{t
0.05
1711 Albcrt St il
SANOERS IIAFK A
gildors llcllss. L wob€i
t1t7,5m
ilLS: lzlfz:ill0lt
!187.00
Tax:1,5tt{ illS:2,O26
8,568
0.1967
t
4
Tax:3 ilLS:2
194i1
I
ilLSi 3
BungslorY
Slngle FarYllty Drwlllng Fhit
od
8FR
tq026
0.{E
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 54
1
MINNESOTA RE,AL ESTATE APPRAISAL SERVICES LLC . CL'ARKE T GOSET, PRINC]P'41
NEIGHB OR ANALYSIS
Addr€ss
O'nnsr Nam€
Ovrngt Nams 2
Sals Prics
Sala Dat€
Frics Por Sq Fl
Frru$6d Sq R
Lot Sq Ft
Lot Ac58s
Totsl Roorns
Bsdrooms
Bsthrooms tTotsl)
Ya8! Buitt
Stodos
Gorage CEPacitY
Sryte
Lend Ucs " GoilntY
t-afld Us$ " Co(gLogic
PrapcrtyTax Amounl
$$Bnc€ {milas}
Addr€ss
&Yncr Hame
Ov{nor Nams 2
SBI€ Pii:e
sal6 D&t€
Subi€ct ProPorly
140? Lstp€ntsur Avs W
SARIN HOMES LLC
$500
09t25J2001
$1 Ss"83
1,178
12,729
i.?g.22
1953
MLS: t
Nolghbor 13
1396 Larp€ntour Av6 W
BLASER 'IARY
BETH
$16?,000
T*: o8ll 6/1013 MLs: 08/211
2013
i,t32.96
Tsx: 1356 ftllg: l'630
6,fl6
0.1556
Tax:1 MLS:2
t$it8
I
HL8:2
Bungalo{s
glnglt Fsmlly Dryolllng Plstt
cd
BFR
i3,814
6.05
Nsighbor i6
Ncighbor 14
1416 LarP6ntour Avo W
HEX ROBEiT A
Hsx gh.rd L
TEx: 1J78 fttl-s:2'3?8
6,050
0.'r38$
5
3
3
tg51
I
*tLS: t
BungBlon
glngls Familt ttrrol$ng Plslt
od
SFB
i4,820
0.05
Neighbo|17
1381 L.rPcniour Aus W
FLATHIIAII'{ EEIII LOBEE
Fhthmann Rood Atron
sfi6,000
taxi ollgltt gg2 i/tl$: 0312'/2
014
*76.26
Tax:1,5{tg MLS: a185
8,600
N€ighbor 15
0.tg?rt
7
3
3
rg!0
1
MLS:2
Bungdlotu
Stnglo F mltY Ditotttng Ptalt
ed
SFF
84,722
0.05
Hsighbor 18
Prk* Psr Bq ft
F-fiistred gq Ft
Lot Sq Ft
Lot Actsg
Tatsl EocnE
B6dro'om$
Balhroorns (Total)
Yoat Euitt
Storios
Garege CaPacitY
snts
1ald ugs ' Counv
La$d U8€ " Col€Logic
Progsrv Tax Atnount
DistarEe {mil€s)
Sma[ {Under l0om€fld€t Rsl
al
Commercial {FIEC}
$5.r70
Smail (ufidsr l0o0Gl)det Ret
ai
Commsrcid {NEG}
$5, I ro
Sublst Propsrry
,l407 L-stpontst-'r Avs W
SAffIN HOME$ LLC
$500
o9/258001
slss.es
1,174
12,729
o2p22
1S53
MLS: t
t7O0 Alboli 8t tl
AHDER9ON ELITAE€'H
Andorson J{cob
t*10,00$
2021
$273.3:l
Tsl 1.60lt I'ILC:2'6et
1A${s
od2et
6
4
2
1939
1
tlLS:1
Bungslow
Slngb Fsmlty Durolllng Plstt
.d
9FR
$5rt?E
0.05
t?12 ilolton 3l
CLARK CHAI{TEL iIAFIE
$11t,ooo
ol/t0tr012
168.62
1,6?6
I,t?s
o.lcatt
6
2
2
'196$
1
2
Spllt FoYcr
il"n" tt*"t tl'dllns Plstt
od
sfR
85,s00
0.05
1386 LtrPentout A{o W
OLEOH TTAFY K
t30,0oo
02/01t19S4
t15.15
1,980
6,0s0
0,138s
6
3
2
1947
Bungtrlorv
Slnglo Famlty itlsclttng Plsit
ad
3FR
N5,S18
0.06
55
1P.O. Box l3l5gz'Roseville'Minnesota 551 13 Phone: 612-61 8-0917 Web
cgoset@comcast'net
MINNESOTA RE,AL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIP,4L
NEIGHBOR ANALYSIS
Sutriacl Propsrty N{hhborl9 f\l,6ighbor ?S
Address
:Ovrnrr H6m6
Ornar Hams 2
Sale Prias
Ssls Dste
Pdca Fergq Ft
Fki€hsd gq Ft
L6t gq Ft
Lot Acrs6
Total Foo.rn
Brdrooms
Bathrooms {Total}
Y€rr 8uill
Sttorlrs
Garage Cspecity
svtg
Lsnd Uso - Collnty
Lrd Uaa - Corcl-ogh
Property Tex Arnount
Di6brE6 (mlacl
l
l40T Larpodeur Avs W
, SAR'N FFMES LLC
$500l.--
I oerzr€mt
srso.trt
: 1,170
t, 12,-f?€.
I O.2g&.
: ig6g
i MLS:1
Emntt {UnCer lOOOOEOdsl R6tci
l Commsrcisl {NEC}
s5,r70
liliEt L!ry.aLur Ava W
FIEEfi SUAAltl L
8so,500
Til : 1 ltttullB! t{L8: 04/0ulr992
l,t$8
go,Eo
Gts89
I
T
I
t${o
t
tltl.S:2
Bunqa.lour
Slngl. Farruy Owrlllrry Platled
8FR
s4F4
o.06
t7l7 Albrrl *t H
ioilo srnniee e
Long Vlctorla L
*ro,rn
TrI: ltS/o7/l gg? ir LS: 07f2{fl 9e7
$t.84
iar: t,0OA iltgr 2,024
&58S
0,tsf7
to
Yrr:6 ]lL8;4
Tarr 8 *lL8:2
rglt
I
llLS:2
Bungrtou
8lryh Famlly Dtrlllng Plnttd
8FR
t5,834
o.06
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 56
1
MINNESOTA REAL ESTATE, APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRI^ICIP,4L
MARKET INFORMMION
1407 Lorpenteur Ave W
Approadtirg m!.+?025, ltifrueapotris' retail marfiet is m
pace fu cmsecutive quarlers cf dernard !os€s, a
fldaHe iumaromd fram historicdF sfmg perfonnfftce
in 202F24, fta;gh persisierfly reslraired dewlopnent
has kept Minneapolis as trre ol {he live tigttEst nnjor
nnrte{s ndlnnally,
Gerenal retail storefionts remaln a brigftt spot, alxortirg
otter 30,ffi0 SF in 25O1, Fd tly dlscsur$ grocers, at$+
senrice, frtness, and smaFbnnd medical users.
Ititeanwhile, JoAnnb bardau$cy std sdectiye mi*box
daurclsizlng by Cub Foods std L$nds & By€rlys lxlve
driven most of te recent dernar*l hsses.
,dt the sanE tinE, only 200,000 SF tBs delivered in ttFpd yeer, cornpared to lhe historicd arurage d 1-1
million SF, whlle tlp 4l0,filtFSF conslruction pipefine
represents iust 02j6 ol exisling stock ard is alrea{ orer
trJw-fiirds pre-leased- lilost projecls ae singfle'bnantpa# orgrourd-floor suile* an mked-use bruildirqs,
refiectins elevaGd construction coeb and tight financinq;
over 80r}6 af ltp undenrvry stock taces ts freestandng
$oslcl- Ridgedale and IrfupE Grwe accoutt for crrer
hdf ol the spaae mdenray, ye{ neittrcr sd)market's
urder-aarsffuclian stoct excds 1% sf exisling
irhrentory, limiting fifiJre conpetitive pressute-
The minirftal suFp{y+ide pressure, p€ired with steady
IIIETA,E$ORPN$il, IGT DELIVERES A VACATICY
houselnFlspefflirE qrflvth, fps ked tte arai*eliFty rate
nesr iu dFlime ls"r of 3-5%- Generd rehil buildnqs
past the lawest availatflityat 2-0%. idtle pourcr md
neiqftborhood cenlers remain the $ack outlier at alnn$
SA5, tfoufi groery-mchorcd neighborhocd cer$ers fdf
belolfl 3%" Fstgroruiing, semrd+irE corrlrlors such as
@le Grwe, Utuodbury, aff Apple Valley boml sub"?%
availability, undersffirirg the meFo's prorntnced
urban*uburtran bifrncatist -
Asthg renF hauB increased by 4-4[!6 year-over-year tro
$zl.tXl/EiF HHN, rnore than double fre nalional pace,
with gains nreled hy nrull-located, Nqh{rffittth sdrurban
mni&rs. Ltrrdords, emboldefi ed try srucity, ire no\#
standrdeing 396 anrural escalations on l$lrer terns
affl finrning lenant irnprovement a[o$anes. Prine
slhlrtran pads routinely quote above $30iSF NNN, wfiile
secondary uban mrridors sfuggile to hotd $ISSF NHN.
Wih S€ dpelirte tdn, nnancing for speculaiive profects
s.ffaroe, and me{rn poFuldim gmffr rebowding,
vaeancy h ex$eded to rernain al or belo* 3% tlrsugfr
rd*2m6- Rerb should srttinue to rise in lhe
ls!rv-ta-mid-3% range, led @ grucerir-anchored and
autornotive-service fornuts. The principal rists are
addFtimal bigrbox liryidatirts and a potefiliel p.tllbacft in
discrdionary spendirq shouH hi$e* lxnorirp costs
exEnd lgriger than afllicipsted.
1.5 5 5q&
1.0 5 006
0.5 45%
0,0 40?i
,0.5 3,5Fd
-*.u 3,n%
-I.5 ?.59io
-2.0 2,0?i,2SlS ?0?0 ?0?1 ?0:2 ?023 ?O?4 aSSS 2026 20t7 ?028
|l l.l*l Abs*rpl'rrr t Net D"hvertas I V4':trirjy Urriled $lal*s Va*;rlx;,/
Forccrst
J.a
11
=
5
*:t;,1.
,:!
fI
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 57
MINNESOTAREALESTATEAPPRAISALSE,RVICES,LLC-CL'4RKET'G}SET,PRINCIP'41
MARKET INFORMATION
Minneapolis remains a key economic engin-e.within the
'tl;ffi:,r",, *;t.i"tii"o ov a olverse economv.anchored
in finance, healthcare, minufaauring' and technology'
il;;il'd;"t m"tro is uniquelv attraqi.Ye-f,:r.
commercial real estate investors' glven lls. n'lgrr
ffiH;;;iattainment--around 44016 of adults possess a
i".r,"r.rt o"sree or hi gher' qiSn rncan|1 -1PY:-tn*ffi;;';;t" oi go";-und i robust emplovment
;;;;;;t;i& uY ro'tune 5oo firms such-as
t'"ii"i;rlrlrin'b-*ip' rutgtl cotporation' 3M' and u's"
BancorP-
Demographically, the metro saw its strongest population
orowth since 2017, aooinl over 311090 people-in 2024'
"".t,lii'"t'i"- "; most rec-ent population estimates from
the U.S. Census gureau- fnut exceeds-the Twin Cities'
llH;; ;;;;fs;;*tn otisusr'rv 31'0.00 resid,ents in the
;;G:;16; saite time, the i%-growth rate-roushlv
matched the U-S uuutui*,.i"nrin-g ssrO ?T,:1S th* 55
#.r'"iJ,il" "it,t nutil"nll$ with a population ol over 1
million PeoPle
Lastyeafs resurgence reflects strong net migration
ffi;J;;""*is for sains oj oY.ut 23'0o0 people' a
multidecade high and o"ver twice the averageamlal
iiitililiil"",r;"i"iuo" leadi ns u p to the pa ndem tc'
While intemationat mlgratlon Jccounted for nearly all of
;i#; ;;it;;, dt*utti J*giurion tu rn ed positive rcr th e
first time since the pandJmlCs cnset' increasing by
almost 500 PeoPle lasi Year-
From April2020 to July 2024' the total.population in
Hennepin and Ramsey countres tll"nk:I-:-:"r 18'500
;ffi;, *itn r.o*uined domesiic out-migration of
;A&'#:ditdi"tia"ntt o'"t thit ti*" frame--rhe Twin
liti-t'' i+'"tn"r suburban and exurban cqunties have
fared much better, wtth each regislering overall
i"prl"it" s"ins for the second consecutive year'
bringing total growth ti"t" eptit 2020 to roughly 86'300
residents-
Although suburban and exurban gains have.been broad-
il;;:d;k"ti and Washington counties.led the wav
across the five inner-ring ttibutb"n countieq each
;;;iil ov roughlv 4$00 residents in 2024' That
exceeds their respeJtiui' iuurag" in the 2010s by about
io"a. wtight county nuu page,qiF 1"sl9l't^lot"
outlying counties, nting by 2'1Vo last ye-ar' consistent
wiih its growth 'ut* ouJt th" past four years and more
than doubling its annul't uu"iugu of 1% in the decade
leading uP to the Pandemic'
The metro's median household income ha-s-changed by
1.8olo over he past y"t'io an average of $98'000' That
;.,ffi;;;; io tn'Jtduoeiu-s', *t'itt' has-seen median
il;;;ld i";tme levels increase bv 2'5% v-ear over
;;;;i; ; ;""iug* ot $80,000 At the.sa-m-e^ttme'
5;;"1t*;^ir t""l't"r raG tot market-rate apartments
in Minneapolts are more than 10o/o cheaper than the
;;ffi;il;;;sit rn" t"r"ti* affordabilitv compared to
coastal metres continuei io support household formation
and consumer =p"nOingl "nit"nting
the appeal of retail
["r tti"t- in growing suburban conidors-
Office-using employrnent, anchored by professional and
;;;;";;;;*ii'it, nnuntL, and insurance sectors' has
i"*t" =tt"lJ naiio n-leadi n g losses sin ce F-eb ruary
iolb-, rcigited on by.coroorate downsizings rom
Fortune 500 compant*I'rirt" u-S Bank and UnitedHealth
Group. Office-using emplovment has changed by -9'8o/o
over the past live y"uo, Cotpured to the national
;;il; lii-ov" Sumio"n ofirce submarkets such as l-
394 and 1494 have rared better than the central
i"tii"t"oit "ct, which faces record-high vacancy rates
4"" l" =ir.t"ral'shifts in working anangements and
oersistent satety conceins, indic?ting a geographic
i"Hff;;l;lt tnitt guid"t investors towa.rd suburban
#tJ.-Jiixi *ittr amenity-riih tu*put"t and walkabilitv'
lndustrial employme nt, particularty *ith1n M-1
-.- ^ -i;";;;"d;, uititl*t, and manufacturing' rematns a
ioun<iationat component of the region's economy'
Lliti"i"o bv logistics growth driven bv.e-c?T1ttt"
demand. Companies f,k" Atn"ton continue expanding
bgffi; f*tprints, p"rtiiutirly along conidors with strong
interstate access, 'n'tuCinq
tnterstaie ?-1l llS-hway 16S'
ffiHilffcld M;;;i";turins emplovment' led bv
"tGLiBn.o iocal firms like Medtronic and Polaris'
L"fr"i"= t:tture. reiniorcin g d e mand for s pecia lized
industrial space. especntfi in Brooklyn Park' Maple
Grove, and Shakope!, "nltft have b-ecome logistics and
manufacturing hubs'
Employment growlh in sectors such as healthcare and
education continues io support econornicstability' with
institutions like Mayo bliniCs expansions into suburban
i"t*i*nt complementing the already signiircant presence
;#;ililHealrh Serviies and Allina Heallh
Con struction uttiv'ty, p artrcu larly multifamity' h ou sing and
#;;;;;6t. ptoi*ii=, iem ain s
-e
I evated' driven bv
truiu*"d population inflows and infrastrucrure
investments'conu*.'"ty,]eisureandhospitalitycontinuei. t i#i,tii ilowry, tacin-g labor shortages that temper
;;;il ;;i;ti at,- i nn uen-cing h otel and retai I propertv
l:cgoset@comcast'net 58
1
P.O. Box l3lsg2,Roseville' Minnesota 55113 Phone: 6 12-618-0917 Web: mnreappraisals'com e-mat
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - c,L,4RKE T. G)SET, PRINCIP,4L
MARKET INFORMATION
1407 Lorpenteur Ave W
performance-
Lastly, infrastructure and institutional strengths
signif,cantly enhanee the melro's CRE outlook-
Minneapolis-St. Paul lniemational Airport, consistently
ranked highly for connectivity and service quality,
bolsters the region's athactiveness to national and
JOB GROWTH {YOY}
intemational firms. The extensive highway netwo* and
developing transit conidors, including the Soulhwest
Light Rail extension toward Eden Prairie, improve
suburban conneciivity and commuter accessibility,
influencing fufure residential and office development
pattems.
10ola
5%
8Yo
-5o/o
-1Oo/a
-15%
Forocast
2019 2020 2A71 20?2 2023
I MinneaBolis
2A24 2025 2026 2077 2078 2s29
I Uniled $tates
Source: oxford Economics
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 59
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC - CLARKE T' GOSET' PRINCIP'41
MARKET INFORM ATION
UNEMPLOYMEilT RATE ("/")
19
140
12o/o
10%
Solo
60/o
4o/o
20k
0%
23 74
?a 21
I MinneaPo!i$
22
I Unned $tatee
EMPLOYMENT CHAHGE (YoY)NET
150K
100K
50K
0
-50K
-100K
-150K
,200K
-250K
19 20 21
Forecast
22 23 24 ?5 26 27 28 2S
tIIIIIIIIIII
IItIIittIIIIIII
60
P.O. Box 131592'Roseville'Minnesota 551 1 3 Phone: 612-618-0917 Web:mnreaPDraisals'com e-mail :cgoset@comcast'net
20
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G)SET, PRINCIPAL
MARKET INFORMMION
Minneonolis Economic Summsrv
MEDIAII HOUSEHOLD INCO}IE
$120K
$1 10K
$100K
$s0K
$80K
$70K
$60K
POPULAnON GROWTH {YOY %l
I lvlinneapolis I United States
ForecastI
I
I
IIIII!III.t
19 20 ?1 22 23 24 25 26 ?7 28 29
1.0%
0.8%
0.6%
0"4%
O.2o/o
0.09o 19 20 21 22 23 24 25 28 27 28 29
I Minneepolis I United Statee
Forecast
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 6l
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G)SET, PRINCIPAL
MARKET INFORMMION
Minneooolis Economic Summorv
l{ET POPULATTOH CHANGE {YOYI
40K
35K
30K
25K
20K
15K
10K
5K
0
DEMOGRAPHIC TREI{DS
19 2A 21 22 ?3 24 25 26 ?7 28 29
ForecastII
aII
l
l Cu[rcrn LeYel
Itelro US
12 llonlh Chilge {0 Year ChsnqE
llelfo US
5 Y€ar Forecsstt
I I
tlcrmgrsphlc Cstcgosy
Population
llelro
0-B%
U5
0.8%
iletro
0"6%
US
A"4o/o01% I
0.6%3,792.434 341,675,438
Househdds 1.531"544 r34,302.688 1.0"&0-9%
Median Household lncome $98,659 $80,891 1-8%2.4%
Labor Force 2,824,/tl6 170,583,781 0%
Unemploymenl 32%4j%0.4%0t%
POPULATION CROWTH LABOR FORCI GROWTH
0%-0..l%
Source: Oxlord Economics
INCOME GROWTH
t.r%1"0%o.7%9,-51
40963.5%4.0%4.104
1-6%8.4% ' 0.8%04%0.3%
'r,0%6!{.-..
0.490
0.?%
'12 Month 10Ye*r ForocnrlCllang€ ehqnge tg Yrt,
Sdjrce: Oxford Economics
i2 llonth
Chan$€
to Ycer Forsearlehangc {6 trsl l2 Monlh
ehante
l0 Y6sr ForocatlChaoge {5 Yrs}
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 62
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'LARKE T. GzSET, PRINCIP,4L
MARKET INFORMATION
Minneopolis Vocsncy Anslytics
MINI'IEAPOLIS VACAT'ICY OVERVIEW
Minneapolis' lack of available space. particularly in prime
suburban trade areas, has weighed on leasing activity-
New leasing volume in 25Ql of approximately 475,000
SF marked the lowesi first-quarter tally since 2010, with
both quarterly and annual deal ffow sitting roughly 30%
below the 2015-19 average. However, the percentage of
available space being leased still roughly malches lhe
fve-year pre-pandemic average, and the current
median monlhs to lease of less than seven monlhs
ma*s a 15-year low, underscoring a historically supply-
conslrained market-
Coinciding with subdued new leasing volume is an uptick
in tenant move-out activity, which hit a two-year high of
roughly 950,000 SF in 25Q1- ln turn, the market is
pacing for consecutive quarters af demand losses,
pushing year-to-date net abscrption negalive by over
250,000. That compares to over 840,000 SF of positive
demand forrnalion through the first two quarters of last
year and an average of roughly 80,000 SF of positive net
absorption from 2015-1 9.
The demand environment is increasingly bifurcated
across box sizes. Roughly 800,6 of execuled year-to-
date leases involve footprinis under 20,000 SF, led by
fitness studios, specialty F&8, discount grocers, and
small-format medical suites, which together account for
roughly 480,000 SF of annual demand formation in
general retail space, anchoring that subtype's vacanry of
1 4Yo By contrast, craft, hobby, and office-stipply chains
retumed roughly 280,000 SF in boxes larger lhan 50K
SF, sending trailing 12-month demand losses in power,
neighborhood, and strip centers to over 400,000 SF-
Geographic imbalances also continue to widen. Amid the
stultifying confluence of structural shrfts in work
arrangements and persisting safety concerns, lhe
suburban retail market is distinctly outperforming its
urban counterpart- Despite accounting fqr less than 20olo
of the market's retail inventory, the metro's urban cities of
Minneapolis and St. Paul contain over half the cunent
availabilities.
Further nuance exists across the suburban retail
landscape, Brookdale represents a notable
underperformer due to its aging inventory, witnessing
over 150,000 SF of trailing 12-month demand losses
and a vacanry rate of almost 6%. Meanwhile, while
emerging growth conidors with robust household
formation, like Wnght County, Apple Valleyflakeville,
Maple Grove, and Rosedale, all boast sub-2% vacancT
rates.
Post-2t)10 product, largely mixed-use podium retail or
freestanding pads with generous parking, have captured
roughly 80% of all positive absorption over lhe past year,
reflecting tenant preference for modem layouts that
accommodate click-and-collect and drive-ihru lanes.
At ihe same time, inventory over 20 years cld comprises
almost 9070 of existing availabilities, the highest share sn
record, up from an average of roughly 70% from 20't5-
19. Moreover, there is less than 200,000 SF of available
space in retail properties built in the last decade,
comprising less than 3% of availabilities. an all-time low,
The available SF in inventory under 10 yeans old is less
than half the levels in early-2024 and is less than one-
third the 2015-1S average.
Looking ahead, vacancy is projected to remain sub-3o,6,
supported by minimal supply-side pressure and
continued demand fsrmation from discount grocers,
auto'servi ce, and quick-serve retailers, offsettr ng
anticipated mid$ox attrilion from officesupply and craft
categories- The main downside risk is a second wave of
large'formal consolidations; absent that. the balance of
power will remain firrnly with landlods, keeping rent
growth ahead of inflation and reinforcing investor appetite
for suburban grocery-anchored and experientiaFled
centers-
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 63
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET.G)SET,PRINCIPAL
MARKET INEORMATION
VACANCY RATE
7a/o
6016
io/a
4a/o
3o/o
?a/o
1olo
0o/o
VACAITCY RATE
2r)19
a820
2fr21
za2
2023
fr24
Forecast
2019 2A20 2021 2022
I Subiect I
2A23 2024
Peers I Rmedale
2A26 2926
MinneaPoliEn
Roscdnl€
vlc4lrA TmndIYOYl
2027 2028 2029
Hinneipol'!B
tteert v.cgrct TrondFor)
0.2i6
$ttsci
Vlcilct TteltO{YOYI VammY IltndtYoYl
0f6
YID
2.5%0.696 3.6j6
0%01*2i$a 0%
2.4Ys -{!.1%4?oi
1.S%
,0-4%
{t.3%2.2Vr {I"3%
21%0.1j6
0%
62%0%
fi6
0j6
+-l/.t Fr-!*+r'--a!-
006
0%
0%
096
0%
0%
006
006
M 2.6j$
0960%w
4.3%
6_2%
8.2e
-{1.4%
096
006
u46
tr%
3.6%
3.2%{,5%
{t.1%
0-3%
2-196
1.7%0%096tr6
P.O. Box l3lsgz,Roseville' Minnesota 55113 Phone: 612'6 I 8-0917 Web: mnreappraisals'com e-mail:cgoset@comcast.net 64
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'LARKE T. GOSET, PRINCIPAL
MARKET INFORMATION
1407 Lorpenteur Ave W
AI/AILABILITY RATE
12o/o
10%
8%
6%
4o/o
2o/o
a%
AVAILABILITY RATE
201 I 2024
I $ubject
2021
I Peers
.-
2022 2023
I Rosedale Minneapolis
2024
I!l Subiect
Avrilsbality
096
j Peers
Avoilabdity
0%
Ro3edhle
Avail&ility TreldflOn
3.3% -0 2%
llinneapolis I
2019
Tr€nd{YOn
0%
Trgrd{YOYI
006
Avoihbility Trcnd(YOYI
0.1%4.9%
2fr20 a%0%10.9%10_946 5,11 , ,183*
4.0% . -1.10t
2.9% -1.1'A
t).9%
4.3%-1.5%
3.7%-0.6%
5.806
m21 tri6 0%4.50h 4_4%
2422 096 0%33%-r.2%
zJ.23 0%0%096 -3.3%3,9% 1.r%
4.1a/o
3_8%o.1%
3-3% i {.5%2fr24 w 0%0%fi6 i, 0-t96
2025 YTD 0%0%B"/o 0'6
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 65
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC 'CLARKET' GOSET' PRINCIP'41
MARKET INF ORMATION
MEDIAN
0
iltollTHS ON IIIARKET
30
25
20
15
10
5 I
?022 2a23 2Q24
201 5 ?016 2A17
MONTHSON IIIARKET
2015
2018
I Peere
2019 2020
I Rosedale
?a?1
MinneaPolis
MEDIATI ftoccdife
262
iliftrleopol'6
Tl.3
25.0
14.1
11.6
13-1
Pce'.
27 '3
2112016
2017 174
2018 14,4
{a,t
13,7
2019 16.9
2028
2071
17.4 11.4
t7-9 14-8t2'92022 12-6
8-82873- xit 11-3
s-0
2025
Box 131592, Roseville'Minnesota 55113 Phone:612-618'0917 Web:
cgoset@comcast'net
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET.G}SET'PR]NCIP,4L
MARKET INFORMATION
RENEWAL RATES
960/o
94%
9?%
g0%
88%
86%
84olo
82o/a
80%
78o/o
76%
2015 2010 2A17
RENEWAL RATES
2018 2019
I Rosedate
2020 2021
., Minneapolis
2022 2423 ?a24 2025
ilimeOqBt
so.5%
89.5%
Roaedal'e
89,1%2015 91.0%2016 73 5%
s1-6%2017 84.1%85.9%2018 I 85.4%
82-6%2019 82.5%Bt:%2020 86.6%
87.8%2021 88.8%
95.3%zflD 89.996
2023 86,3%
s{l% - --'-89-4%
8S.0%87-t%2024
2A25
P.O. Box l3lsgz,Roseville' Minnesota 551 13 Phone: 612-618-0917 Web mnreappraisals.com e-mail :cgoset@comcast.net 6'l
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'LARKE T G)SET, PRINCIP,4L
MARKET INFORMMION
1407 Lorpenteur Ave W
MINNEAPOLIS RENT TRENDS
A historically tight fundamental landscape has pushed
average asking rents ts an all-time high, increasing by
4.4% year-over-year to $21-00lSF NNN- That markedly
oulpaces lhe national average growth rate of 1.9G4 and
the metro's 10-year annual average of 2.5o/o-
Big'box backfilling has been a key driver of such robust
upward pricing pressure- Recent deals over 50,000 SF
by Costco, Dick's, and Kia removed several well'located
power'center anchors, leaving just 500,000 SF of
contiguous big-box space metro+ride and lifting power
center asking rents by 5,5% annually-
At the other end of the s2e speclrum, freestanding pads
of 3,00F5,000 SF-often new prototype drive'thrus lor
QSR, medical, or auto'service users-command a
premium, Mixed-use ground-fioor suites average
$22.7O15F, while single'tenant pads boast an average of
$23 20/SF, over 2096 above comparable inline strip
space_
Grocery-anchored neighborhood centers, buoyed hy
sustained foot traffic and minimal chum, have seen
annual rent growth of 5.2o/o. Concunenfly, legacy
enclosed malls boast year-over-year gains of 5,1% as
ownerships continue to execute luxury and entertainment
repositionings. Strip centers-wilh the shallowest unil mix
and few true anchor draws-advanced a more modest
3.9% annually, while general retail buildings, dominated
by sub-1t1,000 SF 1970s'vintage buildings, have also
grown 3-9% year over year. Moreovern newer {post-201 5)
product now leases at a nearly 20% premium to
pre-2000 stock.
almost 5%, fueled by zero new deliveries and outsized
absorption around The Shoppes at Arbor Lakes.
Meanwhile, rural lsanti County boasts the lowest year-
over-year increase at sub-3% amid weaker household
formation and ample developable land, producing a more
than 2O0-basisjoint swing across all submarkets.
Among infill nodes, Southdale's metro-leading
purchasing power and tight large'format supply have
pushed average quoted rents lo raughly $31.50/SF, 50%
above the metro mean-
Comb,ined with landlords'success in instituting 3%
annual escalations and trimming improvement
allowances, effective rent growth is keeping pace with
face-rate gains.
One local broker noted that Tl allowance on a 10-year
deal typically ranges from $2$$50/SF, with free rent
generally ranging from 1-3 months, if any" That is down
from 1-5 months typically seen in 2021-22. Tenants
without strong credit histories and proven sales
performance fall on lhe low end of the range, with
landlords normally anly prcviding generous build-out
support with higher rents,
Afflueni, fast-growing, and supply-constrained
Maple Grove paces the metro with an annual increase of
Looking ahead, the baseline forecast calls for rent growth
moderating to roughly 3-00,6-3.50lo over the next
12 months as elevated financing cosls temper expansion
pipelines and discretionary spending sofiens. Downside
risk centers on any bankruptcy-driven give'backs in
midter malls and a modest rise in deliveries should debt
markets thaw; however, today's sub-3% vacancy,
pre-leased construction slate, and robust retailer
migration into the metro should keep negotiating
leverage tilted toward ownels through mid-2026-
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 68
MINNESOTAREALESTATE,APPRAISALSERVICES,LLc-CLARKET.G}SET,PRINCIPAL
MARKET INFORMATION
NNI{ RENT PER SQUARE FOOT
$24
$23
$22
$21
$20
$19
$18
$17
s16
NNl,l
Forccaet
2A24 2025
I Roeedale (Msrket)
20?6 2g?7 202a 202s
IIIIlIII
2019 2020 2A21
I Subiect (Direct)
2022 2023
I Pee€ {Market}* Minneapolis (Market)
$18.27 3.3%
3.7%
3-8%
3.6%
21%
cgoset@comcast'net 69
RENT PER SQUARE FOOT
l- - --- *n#
okscthfltr trclrd
201s
20,20
?J,zl
fr?2
7Q23
m24
YTD
$17-31
$18.52
$17.85tr19.44
tl9-s3
t19.19 2.395
1_3%$'t8.96
3-196
3-8j5
4%$19.69
$20.82
$20 393.6%
t-9s6
ffi
0.7j6
3,1%
2%
$19.27
520.36
$19-97
t20-45
t21.02
ta!-s?
P.O. Box l3lsgz,Roseville' Minnesota 55113 Phone:612'618'09 l7 Web: mnreaPPraisals'com e'mail
21
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET.G}SET,PRINCIP'41
MARKET INFORMATION
I{ET ABSORPIION IN
-2K 2A2A
NET ABSORPTION ITI
200K
100K
-100K
IN SQUARE FEET
2021
ROSEDALE SUBMARKET
2622
N SQUARE FEET
PEERS
2K
0
2023 2CI24
0
-200K 2A20
NET ABSORPNON IN MINI{EAPOLIS
1M
500K
-500K 2020
0
2022 2023 2024
2021
N SQUAREFEET
2023 2024
2021 2022
cgoset@comcast.net'10
P.O. Box l3llgz,Roseville' Minnesota 551 l3 Phone: 612-618-09 17 Web: mnreaPPraisals'com e-mail:
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . CLARKE T. GOSET, PRINCIPAL
MARKET INFORMATION
s
LEAS]HG ACTIVITY IN PEERS lII SQUARE FEET
1407 Lorpenteur Ave W
1K
500
0
2020 2021 2022
LEASING ACNVFY IN ROSEDALE SUBMARKET IN SQUARE FEET
2023 2024
?00K
100K
0
2020 2021
LEAS]NGACTIVITYIN MINNEAPOLIS IN SQUARE FEET
2A22 2023 2024
1.5M
1.0M
500K
0
2020 2021 2022 2023 2024
P.O. Box 131592, Roseville, Minnesota 55 I 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 7 I
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC - C'L.4RKE T. GOSET, PRINCIP.4L
MARKET INFORMATION
1407 Lorpenteur Ave W
All-Time Annual Avg. SF Deliver€d SF Past I Qfs Delivered sF Next I Qtrs Proposed SF Next I Qfs
108,269 40,000 65,355
PAST B QUARTERS DELIVERIES, UNDER CONSTRUCTION. & PROPOSED
{51? Arr_rrn |1ts
I
polis
L r:ilt
:f
f
oA
ll:i! l--ll.j t-:r.l
g., oo st
"r$*ll;*l l'tl i:i l5
il1i'J fl
pA ilii:Col,l<] PA:l{
rfra:nslaPor r5
a
o
I
t
Mounds
Now
F*".-..d
',1tlove
I
Brooklyn Fark
Hope
Golden
St Louis
North Oaks
SEARsEACH
Dellwood
Shoreviev,/'Mahlomedi
Granl
Lake El
Lake Elmo
Park Reserve
While
Bear Lake
d-*-,
M n
'S BLUFF
HIG
ts
.._:==foz-)
t"jj it sub!€cr Property I Frd$tblS$t{ext 8 Quatten .
PAST & FUTURE OELIVERIES IN SQUARE FEET
Area
DANC INGWAT€g$
$ TOa{€ IFAEtr
QurrteB a Und.t-Consructlon 5 Mlle,B6dlgf .-. .. :.r (,! .
o
150,000 ,.Future
100,000
50,000 . "
0
2022
I Histotical D€llverieE
2023 2024
Completed Past I Quarters
2025
I Underway Now
2026
I Proposed
2027
;'t; l - l.illlc j\'?erat,!!a
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 72
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES LLC - CLARKE T' GOSET' PRINCIP'41
rwin ciries *r",i1.9::*:ment remans ti*ffid' but the
ils nuance-and its tmPtt
ii'tt""ti"sV well'defined'
ffi{r*fr +i*qH';;;;f ft{iF:;':';fJ;rJii''
#;;"t;;;;is berore Pourins raotinss
rralinsl?J""lll'-{:1',f fl ffi 'JTrHtSib"S'J:i'
500.000 SF, white an t
;ffi ,.,*;i9's"jv-:.b,'"""r:ffi
"-J'HHlf il",lTJ-*n
suburbs-has kePt ner
ffi:;66 s'i, " tti"t" 0 1% of existins inventory.
Recentderiv-eries-an9:l?il:tJ.'t",:#:ffi:i:"'l'#?t"'
toward smaller, ctedrl-ancr rur.::;;";;;; and medical
llo"o"" I ro i"st-oft e n d nve-th ru o s n' 3
utg
t -1 1'1
ff;".#s!::::'l:i*"il:'-1i..*=q,ffi1?li:fl .l"'
Hl*T :::'JlftHl.il;i;'i''o*p'i'ins most or the
remaining new suPPlY-
Bv subtype, general retailcommanO't-1"1tl-n00't ol all
:i+i*#tf,!i;r#$T:;j:"'#ili" t";Y' a s'lark
'#}ruxrHitt+5:*';,"Y*ii$r{r:"
H[:"1'"'"i';';
j*t'#iui:m***:;:;'"'''
[dil*ilui*l:l*u#tftil$"',pffi
t100% leased) anc
MARKET INF ORMATION
experiential concept (50% leased) round out the
large'format slate'
der
'**lil]'ft fir'#
5'J' 3'H:'I"T,";T;;
u n'
ff TT::t',"ffi T:;xli;,11$,11{xJ'i:irf :,?*'"'"'"
r*{r***$fi'$Tu**+'':lw
eatlY 2026'
Across the m etro' pr:':.tfi
"";f;
!?i d',;t" un- rr u st rati ns
23.000 SF-onequan"l tn" 1:,' J^;; ^, u"r.+,,* formats'oi"'"p"*:;".':y-1ii*TJol,",f 'l3ll;fl i'iJ"l"oL"o"""
as land and construcu
pre-Pandemic levels-
:,.fr :;ifffft
**Jff :i"H:4i jir"r*-
'did' ;ii.on :'Tl'::H: n;;:n;#U s exposure'
,.:"*1i:J,, j,,,_T*,*,ri;#a:l,i,il$'1ffi
mean bY 40o/o and th
sticks to schedules t
the metro vacansy fi
$ii:t"'*i iilHid 1ilft'""l*"r:l;:m:: .:ll .
::"ffiT#1f,f;11, i'.'iliiin"J 'upprv'
sets the s'se ror
i""iil,io',"'F:,*,n"[:",t""1.':H,Xlili"npowerover
service-oriented oP
the next 12 months'
'13
P.O. Box l3lsgz'Roseville'Minnesota 5511 3 Phone: 612-61 8-0917 Web:mnreapPraisals'com e-mail :cgoset@comcast'net
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIP,4L
MARKET INFORMMION
1407 L<lrpenteur Ave W
DEUVERTES & DEilOLITIOI{S
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5
-2.0
ForucastIIIIIIIIIIIII
La
s
a
2019 2A2A 2021 2022 2023 2A24 2025 2026 2427 2428
I Delivenes I Demolished I Net Deliveries
140/ Lorpenteur Ave W
oEul/ERtES & DEillOLlTlONS
200
't50
't00
50
0
-50
-100
- 150
-200
-250 2019 2020 2021 2022 2023 2024 2A25 2026 2A27 2028
I Deliveries ! Demolished I Net Deliveries
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 74
Forscast
ItJ)
csn:oi
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
MARKET INFORMATION
1407 Lcrpenteur Ave W
Ail-Tirle Annual Av& Squde Feet tlelivercd SquaIe Feet plcl I G&3 tlelivered Square Feet l{ert I Gllrs ProFo6€d Square Fect Nefi I Qfs
119 ,740 195,446 40,000 79,000
PASTS QUARTERS OELIVER]ES, UI{DER COI{STRUCNON, & FROPOSED
I
Park
.:t
i
s
--,1 i-
t
\
Scandla
sr
)t
&
,
I
{t
St Francis Sethdl,,
I
St Michael
e'
Hanbver
,t
OakGrovef,r""ir'!i I
. Rams€y
I
Maple
t
I INy€+
xdr*'c11
Sanfr
I Belhel t
a Ham
Andover t
Corcoran
It Eosrdmgn
\ 9r"r.aiou
,fubo'n""
$
I l*e etrno )IiJ Ro!
Lakeland [liF,Jiia JO?$ f-:oogiea
PAST& FUTURE OELIVERIES IN SQUARE FEEI
150,000
100,000
50,000
0
2022
I Hlstorleal Dollvo?le$
2023 2024
t Complatcd Past I Quartors
utune
2025 2026 2027
I Undonvay Now I Froposed All-Tlma Averag*
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreanpraisals.com e-mail: cgoset@comcast.net 75
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'1||RKE T GOSET, PRINCIP,4L
MARKET INFORMATION
l4O7 Lorpenteur Ave W
RECEHT DELIVERIES
Prop€rty NanreiAddress
,' Dicks Sporting Goods
1675 Highway 36 W
Sldg SF Stori€aRatin0
****5,000
St3rt
Dec 2023
Compl€te
Aug 20?4
D€veloprr/Ollmc{
, POAG O*"topment Group
5,m0
3 1717 County Rd C ***22,000
lT5lCounryRoadC ****15,000
Starbucks
2020 Twin Lakes Pky ***Aug 2023 Feb2024 l-
I
I Launch Properties
May 2023 Dec 2023 Smash Park
Feb 2023 Nov 2023 Launch Properties
C&M Home Builders
Chase Eank
2100 Snelling Ave N
601 Apollo
Bank Of America
1761 Coun! Road C
601 Apollo Or
Kwik Trip
6115 Hodgson Rd
10 Holiday Station Stores
3467 Rice St
1215 Larpenteur Ave W
UNDER CONSTRUCTIOH
****5,000 I 1 May 2023 Nov 2023
Jun ?023 Oct 2023
Jan 2023
Mer20?3
Feb 2023 Jun 2023
6 ***
***
t**
***
***
4,{00
6,440
s,000
4,000
3,466
6,MA
I
B
s
1 sep
Oct
2022
2822
20?3
2023
May
Apr
Kath Fuel Oil SeMce Co.
Property ilonerAddress
The Curve Nordeast
1501 Johnson St NE
PROPOSED
Ratiru
****
Bldg SF
40,000
Storiee StB.t Complete Developertowns
2 2824Oct 2026Apr
Prop€fiy NarlFlAddr$i RsliDo
***981 University
98 l University Ave
BTS
6tll1 Hodgson Rd ****
***3 3580 Lexirrgton Ave N
2035 Twin Lakes Pky * * * *
Eldg 5F
1S,69?
16,Uotl
r3,350
10,224
9,900
7,4U
2,400
StoriB
3
Stsrt Complete Devel€pertqtvner
Jun 2026
, n"n,i a David lseleruva
Apr 2026
DJR Ardritecture, lnc.
sep
Jul
2025
2025
2025
20251
Jul
Jul
Augu BP Redevelopment Build
1347 University Ave W
6 1517 E Hennepin Ave
XX Main 5t
***
***
***
Aug 2025
Sep2025 : Jan2025
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 76
21
t'
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
MARKET INFORMATION
1407 Lorperiteur Ave W
UNDER CONSTRUCTIOil lN SQUARE FEETtS Mile Radius|
600K - -
500K
{00K
300K-.
400K
200K
0
2014 20',15 2016 2917 2018 2019 2020 ?CI21 2022 2023 2024 ?saa
----.- All-Tlme Average I Pasi construclion I current Under Con$truction
PROJECTED DELIVERIES llt SQUARE FEET (5 Mile Radius|
50K
/t0K
30K
20K
10K.
i Forecast
2026
Jun
0
2923 2025Jul Aug
2025 2026 2025$ep Oct Nov
2A26 2026Jan Feb
2026 2026Mar Apr
'2028
Dec
202€
May
I Projected Oellvery ----- All-Tlme Average
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 77
r{ a5_g3rHa*5 g ffry3l- g'fl - ss5 I fl a fll
21
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC . CLARKE T. G}SET, PRI]\ICIP,'IL
MARKET INFORMMION
1407 Lorpenteur Ave W
DELIVERIES N SQUARE FEET {5 Mile Radius}
?00K- -
600K
400K
300K - "
500K- . .
200K
100K .
2A14 2015 20't6 2017 2018 2019 2020 2021 2022 ?023 2A24 2A25
STARTS lN SQUARE FEET t5 Mile Radius)
600K -"
400K
300K
200K ." .
100K
0
2014 2015 2016 2017 2018 ?01s 2020 2021 2022 2A23 2074 2425
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 78
21
MINNESOTA REAL ESTATE APPRAISAL SE'RVICES' LLC 'CLARKET' GOSET' PRINCIP'41
MARKET INF'ORMATION
DELIVERY {5 Mile Radius|
PERCENT
{00%
80% -
40o/a
20% -
600K. '
OCCUPANCY IN
OCCUPIED AT
2014 2015 2016 2911 2018 201S 2A?0 2A21 2022 202s 2A24 2925
SQUARE FEET (5 ilile Radius|
DELIVERIE$AND
700K
500K ..
400K
300K
200K
100K
0
201 4 201$ 2018 20'17 2018 2019
I Occupied Nsw I OccuPicd at Oelivery
2822 2A23 2024 2A25
I Vacani at Delivery
2024 2021
t
P.O. Box l3lsgz,Roseville'Minnesota 55 1 13 Phone: 612-61 8-0917 Web : mnreaPDraisals'com e-mail :cgoset@comcast'net '19
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. G)SET, PRINC]P.41
MARKET INFORMATION
Construction Activitv
l{EW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR EUILT (5 Mile Radius}
s6%
s4%
100%
98%
9ZYt
90%
Delivery Q1 q2 Q3 a4 Q5
I'IET ABSORPflON N SQUARE FEET (5 Mile Radius)
o6 a7 88
a 2021 a 2022 2023 f 2824 -qt;ib1!ii:jrJ r-:t{;t1p}ni:y
800K
600K -
400K
200K
0
.200K
400K tlllllllll2014 2015 2016 2017 2o1e 2019 2A2A 2A21 2022 2A23 2024
I Absorption in DeliYerles Wlthin 3 Years t All Other Absorption
2025
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 80
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL^ RKE T. G)SET, PRINCIP,4L
MARKET INFORMATION
Com leted
Properties Square Fe€t Percent L-eased HNN Ashing Rent Per SF
14O7 Lorpenteur Ave W
2 117,400 l oo% $21 .31
COMPLETED CONSTRUCTION PAST 12 MONTHS
Srooklyn Park
Mounds
i,subiect Pmpcfty
North OEks
EN
OIUFF
Area
€)
" 5 llllle Radlus '';i,rt:: r.,
..Dellwood
Mahtomedi
6rant
Lake El
Lake Elmo
Park Reserve
oANCtilCWATEftS
srolletfARI
WHITF 8EA8j'8€^cH
$'.*-
Y
d
love
Shoreviere
New
Hope
colden Velley
Sl Louis
nh
M e
I
llr,:l:l:tl,l i .:i-. .'i, :,' l r, 'ri,
CONSTRUCTION SUIIIMARY STATISTICS
i;cilc PnRf,polis
l-,illr.
E
:7"','
sr'"0
t At>01r5ilIA:tr
litr? nrd"n nirn
iv! i:: i IiliC l Fqllk r, -:GtiOVtLilfl r!'lllr llr
HIGHLA'{D
Lort
2,400
AYe.sge
58,700
ll€dian
58,700
High
1r5,000
58,700
1007o
$27.56 $34.28
********
GLA
Stories
Typical Floor SF
Leases Signed
Percenl Leased
NNN Asking Renl Per SF
Star Rating
2,400
0
t00%
58,700
100%
$21.31$21.04
***
Profrty ilorle Addr6r
I 1462DnylonAve
Roling
***
****
GLA
2,4W
11s,{XX}
Stffieg Cqnplete Le$ed
Acl2O24 100%
Dev€log€rro$trF
Dicks Sporting Goods
Concordia Universig
POAG Development Group
1675 Highway 36 W Aug2024 100%
P.O. Box 131592, Roseville, Minnesota 55 I l3 Phone: 612-618-0917 Web: mnreaporaisals.com e-mail: cgoset@comcast.net 8 I
22
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC - C,L.ARKE T. G)SET, PRINCIP,4L
MARKET INFORMMION
14O7 Lorperrteur Ave W
0
i- rE*.trriltaw
1462 Dayton Ave cn
Distance to Subject Property: 3-1 Miles
f,rrey (dmy, xt{ t r PLnd liLp
'i l Retail Building Land Ases: 1.69 AC
***' ,
PROPERTY
GLA:2,400 5F Building FAR 0.03
Floors Constructian:
Features: Air Oeteclor
Fronlage:
COI.ISTRUCTION AVAILABILITY
Slarl Date Jun 2024 Percent Leased- 100%
lglehrfl AY€
Marshelt Ave
SNEILING
HAMLINE tP**,-,,,,,
j cg!!l,el'gj: *
Build I rnre-
Tlme Since ..Delivgry
Oct 202,t
4 Months
S Months
lquary,Fgg!
CoStar Est-l31J$
.a:'g
5EI
o
CONTACTS
eqd*
4tt rrttt,
^hlrp drtr O2C?5 G6qlc
1675 Highway 36 W . Dicks Sporting Goods
Distance to Subject Properg: 1.5 Miles
Developer:
Owner.Concordia University
G}
PROPERTY
AydMVrqo
?
?****'
-Iry9,GLA.
Retail Land Acres: 10.64 AC
Suifarnq rAR. 0.25115,000 sF
llsolr. I
Parking.
Conslrucfioir
Fealures:-:-Fronlage.9{10'on Minnesota 36
cot{sTRUcTtoN AVAILABILITY
Siart Dsle-Dec2023 Percent Lessed: 100%a
Complelion-2024
Euild Tinre:B tlonlhs Co5larEst. $19-23
Time Slnce Delivery: 10 Months
COHTACTS
POAG
Owner.
tlap dati @1025
P.O. Box 131592, Roseville, Minnesota 55 I l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 82
MINNE,SOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'L.4RKE T. GOSET, PRINCIP,4L
MARKET INFORMATION
1407 Lcrpenteur Ave W
MINI'I EAPOLIS IHVESTMENT TRENDS
Minneapolis' retail capital markets saw the third
consecutive quarter of declining sales volume, registering
$143 million in 25Q1 , the lowesl first-quarter tally since
17Q1 and a nearly 60% year-over-year slowdcwn.
Trailing 12-month investment activity stands at $811
million, compared to lhe markefs 2015-19 annual
average of just over $1 billion.
The core challenge remains the limited inventory of
desirable asseis, particularly unanchored slnp centers
and neighborhood centers, which are in extremely short
supply- While buyer demand rernains strong, the lack ol
quality listings has slowed the market. This imbalance
behveen buyer appetite and availability continues to
define the relail investment landscape. However, the
bid-ask spreads have narrswed and financing costs have
stabilized- The average closing price is now roughly 109o
below the initial ask, a gap that was 15% six months
earlier. signalling that sellers are bending to the markefs
new cost-of'capital reality.
Pricing has recalibrated rather than capitulated,
increasing by neady 3% year-over-year to an average
of $'l 76/5 F. Cap rates remain 50-1 00 bps above pre-
pandemic levels. averagingT "4a/o, ranging lrom 5.006 for
long'term, net-lease pads io 11a/oIor challenged Class C
malls,
National buyers have re-emerged- Out-of-state capital
accounts for nearly 60% of trailing 1 2-month deal
volume, becoming a net seller by over$6 rnillion in 2025,
their first positive reading since mid-2023. Meanwhile,
local investors are nel sellers by almost $10 million
year'to-date,
Public REITs remain selective yet made headlines when
Phillips Edison acquired Rue de France in Edina last
August for $26.4 million {$408/SF) at a sub{ OYo cap, the
metro's priciest deal in the past 12 months. Delaware
statutory trust sponsors and 1031 exchange buyers have
filled lhe liquidity gap in the $2-$10 million strip-center
tranche, attracted by yields 150-200 bps above
pre-pandemic norms.
Household'income corridoru east of St Paul captured
three af the top four-perfonning slots. Woodbury has
posted $85 million of trailing 1Z-month sales volume at
$17S/SF pricing and an average cap rate of 7,4olo, while
Maplewood logged $7S rnillion at similar yields. By
contrast, exurban lsanti County required B-3% yields and
a steep pricing discount of $1 16/SF to clear inventory,
underscoring widening risk premiums lor secondary
locations.
Product type also matters: grocery-anchored
neighborhood centers average low-$160/SF pricing and
a mid-7% cap rate, while pricing in power centers stands
at mid- to high-$150/SF but demands the same yield
despite stronger lenant credit, reflecting investor caution
toward big-box backfill risk.
Recent trades illustrate today's risk spectrum. Kingsbam
Realty Capitalpaid 923-5 million ($470/SF, 6.1Yo cap) for
a new Tesla showroom in Lake Elmo last June, validating
appetite fsr EV and auto-service formats;
HJ Development's $14"4 million {$182/SF,8"5% cap)
purchase of Fountain Place in Eden Prairie last
September shows the prernium investors require for
lease'up power cenlers. Moreover, the Port Authonty ol
Saint Paul acquired a vacant former Kmart for
$9-5 rnillion {$70lSF} lasl December as a covered-land
play.
Looking forward, muted new construclion and resilient
retail sales should keep the fundamental landscape tight,
yet debt maturities Fom 2020-22 acquisitions will test
pricing power. The upcoming wave of debt maturities
could prompt more owners to list propertres, parttcularly
those with repositioning needs.
Cap rates among core grocery-anchored and
single-tenant assets are expected to tighten by
25-50 bps if the Fed executes a late-2025 cut, while
secondary strips likely hold near current yields until
absorption improves-
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 83
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T G)SET, PRINCIP.4L
MARKET INFORMMION
1407 Lorpenteur Ave W
SALES VOLUME & MARKET SALE PRICE PER SF
lr.tt.:;
Ls6tJt
tt
h
$280 ! Forecast $7oo
$260 I I$240
:il
$6llll::"20'ts 2a20 2021 2022 2023 2A24 2025 2026 2027 2028
I Salee Volume I Minnaapolis Price/SF I United $tatec Price/SF
ROSEDALE INVESTMENT TRENOS
Over the past year, 64 retail properties kaded in
Rosedale, accountrng for 54O,000 SF ol inventory
furnover- Retail sales volume in Rosedale has totaled
$59-8 million over the past year, Average annual sales
volume overthe past five years is $1 10 million and $89-1
million over the past 10 years.
Estimated retall market pricing in Rosedale is $163/SF
SALES VOLUME & IIARKET SALE PR]CE PER SF
compared to the market average of $178/SF- Average
market pricing for Rosedale is estimated at $124/SF for
neighborhood center properties, $127lSF for power
center properties. $193/SF for strip center
properties, $160/SF for mall properties, and $173/SF for
general retail properties, The eslimaled market cap rate
for Rosedale retail is 7-796 compared to the
market average of 7 -4i6.
$21 0
$200
$190
$180
$170
$160
$150
$140
$140
$120
s100
$80
$60
$40
s20
$o
stForeca
I
q
o-
s
s
o=
U}r!_s
-{:
5
=
-=fa
2019 2Q20 2021 2922 2Q23 2024 2025 2426 2027 7028
I sales Volumc I Rosedale PnceiSF I lt,linneapolls Price/SF
P.O. Box l3lsgz,Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 84
MINNESOTA REAL E,STATE APPRAISAL SERVICES, LLC - CLARKE T G)SET, PRINCIPAL
MARKET INFORMATION
1407 Lorpenteur Ave W
ROSEDALE SUBMARKET 5ALE5 VOLUME II{ SQUARE FEET
1.5M
1.0M
500K
0
2020 2421 2022
ROSEDALE SUBMARKET CLUSTER SALES VOLUME IN SQUARE FEET
2023 2924 2425
r.0M
500K
0
2020 2021
MINNEAPOIIS }IETRO SALES VOLUME II'I SQUARE FEET
2022 2023 2A2t 2A25
6tri
4M
2020 2A21 2022 ?.A73 2024 2025
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 85
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - :'L.ARKE T. G)SET, PRINCIP,4L
MARKET INFORMMION
Soles Pricino
IIATIONAL PRICE INDICES
350
300 -,*-
Foresssl
200 "
250
50
05 06 07 08 09 10 11 12'13 14 15 16 17't8 19 20 21 22 23 24 25 26 27 28 2S
I U.S" Multi-Famlly I U.S. Oflce I U.S. lndustrial U.g. Retall
REGIONAL RETAIL PRICE INDICES
200
180
120
140
Forecast
1S0 .
100.
80
08 09 10 11 12 13 l4 15 16 17
I Minneapolis Retail
18 19 20 21 22 23 24 25 26 27 28 2S
I Unlted States Retail
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreaopraisals.com e-mail: cgoset@comcast.net 86
MINNESOTAREALESTATE,APPRAISALSERVICE,S,LLC-CLARKET'G)SET'
MARKET INFORMATION
PRINCIPAL
Foreeast
22 23 24 25 26 27 28 29
!tARKET PRrcE PER SF
$280
$260
$240
$220
$200
$180
UNITED STATES SALE PRICE PER SF DISTRIBUTIOI'I PAST 12
$160' "'
$140
$120-" "'.
$100 08 09 10 1106 07
MO}ITHS
SUTIIMARY OF
c€ograPftY
United States
Minlea.golis
Rosedale
1213{4 15 16 17 1S 19 20 21
I Mlnneapolls Retall I Unlted gtates Retail
MONTHS
7#'i
**1t{ s100
s24Il
SALES IN PAST YEAR
lledian
$1q5 |
$155 i
$166 I
MNNEAPOLIS SALE PRICE PER SF DISTRIBUTION PAST T2
401t
i0*
?03r
I 01n
0b
5:C6 s500 10q33m 3{00 s5ou
016 360€ 5r0o ti8{0
3lll0 3m0:50{
36$'1
iil,tl ilffi '*s 36SJ 6?00 i53{0
a?,Jo tt{0<r1t{ s1o0 s2ms?00 !3[4
PRICE PER SF
TransactiorB, 43,ozu ir" 539 J
Boftom 250,1
$55
Lolr
Arerqe ToP25l/r
$823
nbh
$47,750
$0 02
ilac I
$3,91S
ssas
P.O. Box l3lsg2,Roseville'551 13 Phone: 612-61 8-091 7 Web: mnreaPpraisals'com e-mail:cgoset@comcast'net 87
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC 'CLARKET' GOSET' PRINCIPAL
MARKET INFORM ATION
MARKET CAP RAIE
s.8%
8.6%
8-4%
8.2% -'' *^
8.0%
7.ZYo
7.0Yo
6.8%
6,6%
Forecast
!J* bqt'snfi 1l't:'! 1l'!:
06 07 08 09 10 11 12 13 1 4 15 t6 17 1S 19 20 21 22 2X 24 25 26 27 28 29
I MlnneaPolis Retall I United Ststes Retall
CAP RATE PAST 12 MOI'ITHS
DISTRIBUTION PAST 12 MONTHS
4fi9n
?DN,
UNITED
B0'n
STATES CAP RATE
401s
t0lh
0.*
r-Iii r-il ;-61! 6-lr'
t-9$ 9':1a i1_:3r. 1ll61 15'ii1
,x.3\ 5.1'-
CAP RAIE SUMMARY OF SALE
GeograPhY
United States
MinneaPolis
Rosedale
5 N PASTYEAR
frgnsrctiorB Lo{r
Top 25o,t tftsh
70.0%8offfrl 25%
5.0%
!/tedian
6-7Yq \
1-1o/n \'
Average
6-9% I
7.3',1"
92% 1
i
11.2%
L
I
1
5B%
9.0%
8"0%8.0"6
6.8%7.2%' 7.10k
"
P.O. Box l3lsg2'Roseville'Minnesota 5511 3 Phone: 612-61 8-0917 Web:mnreaDDraisals'com e-mail :cgoset@comcast'net 88
MINNESOTA REAL ESTATE, APPRAISAL SERVICES, LLC - C'L.4RKE T. GqSET, PRINCIPAL
MARKET INFORMMION
'1407 Lorpenteur Ave W
TOP MINNEAPOLIS RETAIL BUYERS PASTTWO YEARS
Proptrties Eought
SF Vollsr€
s i 382,s{} r s143,1 30,020
100,m0 $47,200,000
122,M8 $43,915.503
206,803
gao,sts ,
s}1,500,000
64.768
$3S,S9:.939
$26.408.000
97,288 $24,747,968 0
1r5:092,
72,986
$24,510,000
$2i1,300,000
50,ff10 $23,5r]0,000
PTopertiff Sotd
SF Vofum€
17,550 s4.800.ffi0
42,U8 $4.700,{x}0
185,459 $12,365,646
71,187 $5.085.000
$950,m0
s1,500,0t)0
0-
31262; t3,871,S85
Compdny Name
Lithia Real Esiate, lnc.
Kingsbam Realty Captlel
Agree Realty Corporation
HJ Development
4th Dimension Properties
Phillips Edison I Cornpany
Hurd Real Estate
Hempel
Comerstone Auto
Mavik Capilal Management LP
Aldse Bl@3
1
0
Ii
3
1 0
?
Essential Grorvh ProFerties
!nterstat€ Developrnent
Lennar
Affrle Autos
Paster Properties
Provident Real Estate Ventures
Entheos Commercial Realty LLC
Equilix
Fundamental lncorne
Steve Chele-y
Tamer Alpagot
New Horizon Academy
GregoryD&KayCPotter
Fod Aulho.ity of the City of Saint Paul
African Caner Educaliofi & Resources
205,fiig
76,719
$20,81]0,000
$20,000,000
$r 8,185,306
0
0
0.
0:
0l3,461
65,625 $18,000,000
66.378 $17,500,000
1
o
2
1
I
19,014
57,862
9t,608
$17,500,000
$I6,067.500
s15,150300
0
0
3,670
0
30,764 i $13,224,160 ,
125,t}5.8 $12.841,865
st,563 $r1.9'r5,000
27,067 $l 1,100,00t)
$10,1 15,000
$9,500.{100
16,269
t36.056
74,793 $c,10t,985 :
Purchased at leasl one asset in Rosedale Rel subrnarkel
TYPES OF RETAIL MINT{EAPOLIS BUYERS PAST TWO YEARS
Buying VolunE Average Purchtre
Pric€tSF AYg Ptice
$132 $2.3S2,838
$172 $3,921,572
$260 $4,497,998
$125 $3,116.6S9
$241 $4,285,853
Colnpony Type
Private
User
lnstitutbnal
REIT/Publie
Bldg!5F
38
?7 671,SS3
Billiont
,7777,f33
2,300
657,333
j
j
:
$1.03
$0.40
s0 17
$0.08
$0_03Private Equity 6 't06.3s0
$0 s0.30 $0.60 $0.90 $1 20
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 89
2
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GjSET, PRINCIP.4L
MARKET INFORMATION
1407 Lorpenteur Ave W
TOP MINNEAPOLIS RETAIL SELLERS PA$T TWO YEARS
F opertie$ sold
SF
382,801
Volume
8143,130,020
froptrties Bo$oht
SF
:I
Coflpnrlyfiortte
Camusel Mctor Group
Sun Ufe
DRAAdvl$ors
SVPGlobal
LCN Capital Partners
Hy-Vee, lnc,
Daniel J Raduenz
Dreke Real Estale
Drahe Real Estate Services, lnc"
PineTrse
Brenl Henon
LS Capilal
Haughnd Cortrpany
AutoNalion
Bob Lothenbach Family Office
Trach Propertres, lnc.
fulafle1ry! Devehpment & Cmstruction. lnc
Christopher Ogren
TOLD Developmenl Company
Foundation Parlners Grolp
Koftlberq Kravis Roberls & Co- L-P
MFC Properties Corporation
4th Dimension Properlies
William Cooley
Christian Brolhers Aulomotive Corporation
Sldgs Bldgs Volwne
I
4
4
5
174,281 :
?00.6q1
653,586
S45,,{00,080
$88,160.000
$3,699,999
0
0
0
0
0
{t
5 24.9S0
97,288
$33.123,71r
$24,747,968
I
72,986 $24,300,000
ao,ooo szi,zoo,ooo
$23,500,000
$2.175.000
$20,s00,000 I
$a0.745,000
$20,000,000
$18,000,000
$17,500,000
I t;
501m0
t95,118
205,009 l
164,467
76,719
66.625
19,014
4
0
0
0
I
0
0
6
4
t,t53
0
0
0
s1,749.000
$4,351,825
66,378
1,735
$17,500,000
$16,934,375
l
15,202 $15,000,000
32,93{1 $13.612288
30_.764: $13:22-4,160
125.958 $12,841,865
-)
$12:500,990
$12,365,646
$I1,15,0{10
3 16,269 : $10,115,U00
Sold at least one asset in Rasedale Ret subfiarket
640,515 $3U,S99,99S
96.,60r .
18!,45s
187,5,S)
0
3
0
0
2 0
TYFES OF RETAIL IIiINNEAPOLIS SELLERS PAST TI/VO YEARS
i Seuing Volume l AveragP Sale
PricersF AWPrics
$167 : $2,265,824
conpany Type
Private
User
SF
1742,275,49
BiUiorB
6,649,121
96 1,8S5.583
$1.11
$0 38 $202 $3,9S2,906
lnstitutional 50.19 $81 ffr,798,977
Frivate Equity s0,06 $174 I $2,83O,1SZ
RElT,Fublic 21 685,080 f0.02 $31 $1"r40,392
s0.30 $0_60 $0,90 $1.4)
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 90
a
MINNESOTA REAL ESTATE, APPRAISAL SERVICES, LLC - CL.4RKE T. G}SET, PRINCIP,4L
MARKET INFORMATION
The demand for development of a 0.5-acre parcel along Larpenteur Avenue West in Falcon Heights,
Minnesota, can be analyzed based on the following factors:
Market Overview
1. Retail Market Demand:
The Minneapolis retail market is experiencing restrained development due to high borrowing
costs and limited speculative construction. However, demand for smaller, freestanding retail for-
mats remains stron$, particularly for auto-service, quick-serve restaurants (QSRs), and medical
prototypes.
General retail buildings have the lowest vacancy rate at 1.4o , indicating strong demand for
smaller retail spaces.
o SubmarketPerformance:
The Rosedale submarket, where Falcon Heights is located, has a vacancy rate of |.lYo, which is
below the Minneapolis metro average of 2.7Yo. This suggests a tight market with limite d availa-
ble space.
Asking rents in the Rosedale submarket are $20.36lSF NNN, reflecting steady demand and pric-
ing power for landlords.
o Development Trends:
Recent construction activity in the area has focused on smaller, credit-anchored formats such as
freestanding pads and mixed-use developments. Projects average 23,000 SF, much smaller than
historical averages, indicating a preference for capital-light, quick-turn developments.
1 ParcelCharacteristics
1. Location:
The parcel is located along Larpenteur Avenue West, which has high traffic counts (14,680 vehi-
cles daily at nearby intersections), making it attractive for retail or service-oriented businesses.
The location has an excellent score (75) and is considered very walkable (Walk Score@: 72), en-
hancing its appeal for neighborhood-focused retail or services.
o Parcel Size:
At 0.5 acres, the parcel is suitable for smaller developments such as freestanding retail buildings,
drive-thru QSRs, or medical offices, which align with current market trends.
1 Demographics
1. Population and Income:
Within a 1-mile radius, the population is 13,195, with a median household income of $86,549
and an average household income of $105,212. These figures indicate a relatively affluent local
customer base.
Consumer spending in the area is significant, with $184.3M in total specified spending within 1
mile, including $50.6M on food and alcohol and $42.5M on transportation/maintenance.
a
a
a
a
a
a
a
o
a
a
1
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 9l
a
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIP,4L
MARKET INFORMATION
e Growth Trends:
The area has seen stable population and household growth, with minimal vacancy rates and
steady demand for retail and services.
1 DevelopmentPotential
1. Retail and Service-Oriented Uses:
The parcel is well-suited for retail or service-oriented uses such as a drive-thru restaurant, coffee
shop, or small-format medical office. These formats align with market demand and the parcel's
size and location.
o CompetitiveLandscape:
Nearby properties have NNN rdnts ranging from $16-$20lSF for similar freestanding retail spac-
es, making the parcel competitive for attracting tenants.
o ConstructionFeasibility:
Given the restrained development environment, pre-leasing or securing anchor tenants before
construction would be advisable to mitigate financial risks.
Conclusion
The 0.5-acre parcel along Larpenteur Avenue West has strong development potential for small
-format retail or service-oriented uses due to its excellent location, high traffic counts, affluent
demographics, and tight market conditions in the Rosedale submarket. Pre-leasing and align-
ment with current market trends (e.g., drive-thru QSRs or medical offices) would enhance the
feasibility and profitability of the project.
a
I
a
a
a
P.O. Box 131592, Roseville, Minnesota 55 I l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 92
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIP,4L
INCOME APPROACH-LAND RESIDTJAL CALCULATION
INcol,rB Appnoacn LeNn Resrouar- Celcur-erroN
Overview of the Income Approach
The income approach is a widely used valuation method for real estate appraisals, particularly for
income-producing properties. It operates on the principle that the value of a property is determined
by its ability to generate income. This approach is most common for commercial properties, rental
buildings, and land with development potential.
Within the income approach, the land residual method is a specific calculation used to determine the
value of the land separately from the improvements on it. This process is particularly helpful for ap-
praising land when the highest and best use of the site is being considered.
The land residual calculation involves determining the portion of a property's overall value that can
be attributed solely to the land. This requires separating the land value from the value of any im-
provements (such as buildings or infrastructure) on the property. The calculation assumes that the
value of improvements can be derived from their ability to generate income over time. The remain-
ing income is then attributed to the land itself.
Key Assumptions
The land residual calculation relies on several assumptions:
The property is optimizedfor its highest and best use. (This factors in zoning for the subject but
under its current zoning, the site is not considered optimized for maximum productivity)
Income streams from the property.are stable and predictable.
Market rents, capitalization rates, and other economic factors are accurately estimated.
The land residual calculation is particularly useful in scenarios such as:
Development Projects: Evaluating the potential value of land for new construction.
Highest and Best Use Analysis: Determining if the current use of the land is optimal or if redevel-
opment would yield higher value.
Investment Decisions: Assessing the viability of purchasing land for future income generation.
Limitations of the Land Residual Method
While the land residual calculation offers valuable insights, appraisers should consider its limita-
tions:
Accuracy depends heavily on market data, including cap rates and income estimates.
It assumes stable and predictable income streams, which may not reflect volatile markets.
It requires careful differentiation between the income contributed by improvements and land.
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 93
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC - c,L.4RKE T G)SET, PRIN:,IP,4L
INCOME APPROACH-LAND RESIDLIAL CALCLILMION
The Subiect Propertv Analvsis: Income Approach Land Valuation with Consideration of the
T,imifefinn nf ^5-0 00 Sorrare Foot Buildin g
l. Introduction
This analysis estimates the land value at 1407 Larpenteur Avenue (including the adjoining lot) as-
suming a 5,000 square foot rental building is constructed. We use a building residual approach: fore-
cast rental income, deduct vacancy and operating expenses to derive Net Operating Income (NOI),
capitalize at a selected rate to obtain total property value, and subtract building construction cost to
arrive at residual land value.
2.Key Assumptions
Assumption
Building Size
Annual Rent per SF
Vacancy Rate
Operating Expense Ratio
Capitalization Rate
Construction Cost per SF
Stabilized Occupancy
Value
5,000 sF
$30/sF
5%
30% of Effective Gross Income
6%
$200/sF
Assumed upon opening
3. Income Analysis
3.1 Potential Gross Income. Annual Rent per SF: $30. Total Building Area: 5,000 SF
. Potential Gross Income (PGI): $30 " 5,000: $150,000
3.2Ya,cancy and Effective Gross Income. Vacancy Rate: 5%
. Vacancy Loss: 5% x $150,000: $7,500
. Effective Gross Income (EGI): $150,000 - $7,500 : $142,500
3.3 Operating Expenses and Net Operating Income. Operating Expense Ratio: 30% of EGI
. Operating Expenses: 30o/o x $142,500 :542,750
. Net Operating Income (NOI): $142,500 - $42,750: $99,750
3.4 Capitalization of NOI. Capitalization Rate: 60lo
. Indicated Property Value (Building + Land): NOI: Cap Rate: $99,750 * 0.06 : $1,662,500
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreaopraisals.com e-mail: cgoset@comcast.net 94
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC . CLARKE T. G}SET, PRINCIP,4L
INCOME APPROACH-LAND RESIDLIAL CALCTILATION
4. Construction Cost of Improvements. Building Size: 5,000 SF
. Construction Cost per SF: $200
. Total Construction Cost: 5,000 x $200 : $1,000,000
5. Residual Land Value Calculation. Indicated Property Value: $1,662,500
. Less: Construction Cost: $1,000,000
. Residual Land Value: $1,662,500 - $1,000,000: $662,500
6. Sensitivity Analysis
Changes in key inputs affect land value as follows:
. Rent Variation: If rent is $25lSF instead of $30, PGI: $125,000, EGI: $118,750, NOI: $83,125,
Value : $1,385,417; land : $385,417.
. Vacancy Increase: If vacancy isTVo,vacancy loss: $10,500, EGI: $139,500, NOI: $97,650, val-
ue : $1,627,500; land: $621,500.. Cap Rate Shift: If cap rate is 7Yo, with base NOI $99,750, value : $1,425,000; land : $425,000.. Construction Cost Change: If cost: $220lSF ($1,100,000 total), land: $1,662,500 - $1,100,000:
$562,500.
7. Conclusion
Based on the above assumptions and income approach, the residual land value for 1407 Larpenteur
Avenue with a 5,000 SF building is approximately **$662,500**. Variations in rental rates, vacan-
cy, capitalizalionrates, or construction costs will proportionally affect this land value.
The underlying premise of this appraisal is that the subject is to be appraised under its current zoning
with no consideration of a change in zoning to allow for residential usage or usages with a larger
footprint.
P.O. Box 131592, Roseville, Minnesota 551 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 95
MINNESOTA REAL ESTATE APPRAISAL SERVICES. LLC - C,LARKE T. G)SET, PRINCIP,4L
MARKET APPROACH-LAND VALLIE
The application of this approach is based primarily on the principle of substitution, which indicates
that informed purchasers would be no more for the property then the cost to them obtaining com-
parable, competitive property with the same utility on the open market. The market approach is
based on the principle of substitution. This principle states that "when a property is replaceable in
the market, its value tends to be set by the cost of acquiring an equally desirable substitute proper-
ty assuming no costly delay in making the substitution". Sales of similar parcels of real estate in a
competitive market and of similar utility are sought in the process.
The major consideration in utilization of this approach to market value should be its relationship to
area market attitude. The comparable sales selected, if enough data is available, should be consid-
ered competitive to the subject property under appraisal in relationship to utility and location. If
reliable data is available, this analysis must be considered, to a very high degree, in the final con-
clusion of value.
This approach to value is based on actual sales and offers the best reflection of the way an in-
formed buyer and an informed seller have reacted in the marketplace. In an analysis of this type,
market behavior must be considered. The type and amount of the adjustments can vary in different
locations, principally because the demand can vary greatly from location to another.
Comparing sales of similar properties with the subject property is generally the method of estimat-
ing property value. The selected sales consider the following factors:
1. Time (recent sales)
2. Similar locations
3. Similarity of features of the land and improvements which contribute to (or detract from) value
4. Financing or conditions of sales, if available.
The final results after analyzing comparable sales provides the appraiser with a range of values
from which to form an opinion of the most probable price at which the property should sell in the
open market base on the definition of market value, which is included within this report and sup-
ported by the principle of substitution.
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 96
23
MINNESOTA REAL ESTATE, APPRAISAL SERVICES, LLC - CLARKE T. GqSET, PR]NCIPAL
MARKET APPROACH
The market behavior and actions of buyers and sellers reflect their anticipations of the future bene-
fits to be derived from the ownership of competitive properties. The most significant of this is the
reflection of anticipations is the price paid. The sales adjustment process which is at the heart of
the sales comparison analysis, is based on identification and measurement of the effect that the
presence, absence, or amount of some characteristic has on the sales price of competitive ( compa-
rable ) sales property and, hence, on the value of the subject property.
Increasing and decreasing returns (variable proportions), as well as the measurement of the contri-
bution of any property component or factor to the total property value, are reflected in the sales ad-
justment process. Most specifically, that process shows the effect of larger quantities of variable
characteristics in comparable sales properties on their sales prices. This concept is also useful in
identifying which comparables are truly completive with the subject property.
Market Standards
Especially since market value is the most frequent sought, the direct sales comparison approach is
based upon an analysis of the market behavior of purchasers. The standards for comparing sales of
competing property with the subject property are those of the market. The sales comparison ap-
proach, therefore, requires sufficient quantities of accurate, reliable, and verified market data to be
applied properly and effectively.
Market data arc analysis and evaluated as through the eyes of a the typically informed purchaser,
who acts prudently in his own self interest on the basis of the information. The standards utilized
in the sales comparison approach are those of the local market in which the subject property is lo-
cated. This market is identified and its characteristics are evaluated through the area and neighbor-
hood analysis, which precedes application of the direct sales comparison approach.
Market value is estimated as of the date of the appraisal. The market conditions prevailing on that
date are the ones that influence the value of the subjectproperty. Therefore comparable sales data
should be as current as possible for comparative purposes. In the definition of market value , the
prudent purchaser acts on the basis of an awareness of the uses to which the property is capable of
being put. Rational behavior stipulates that the purchaser plans to utilized the property at its high-
est and best use. Therefore, the value of improved property is always estimated in terms of its
highest and best use. This may or may not be identical with the highest and best use of the site if it
were vacant and available for use. It all depends on whether the improvements are most appropri-
ate for the site.
The essential process of sales comparison analysis is to convert actual varied sales prices of com-
petitive and comparable properties to a defined value estimate. It involves going to the market to
extract indications of defined value from market activities.
Since it is primarily an application of the principle of substitution, the essence of the sales compar-
ison approach is to discover the sales price of competitive properties which sold recently on the
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 97
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'L.4RKE 7' GOSET, PRINCIP.4L
MARKET APPROACH
local market. Through an appropriate adjustment process, this approach is used to develop indica-
tions of what completive properties would sell for currently if they possessed all of the basic and
pertinent physical and economic characteristics of the subject property. Indications of such adjusted
sales prices are developed for several comparables sales. These indications are expected to fall into
a pattern of clustering around one figure, which, when appropriately rounded, provides an indica-
tion of the market value of the subject property as of the date of the appraisal.
The technique of the sales approach involves selecting a number of sales transactions of compara-
ble properties that have transferred recently on the local market. These are then adjusted to provide
indications of the market value of the subject property. For comparison to be made effectively, de-
tailed information must be obtained about each of the comparables sales properties. This requires a
systematic data program. The pertinent and salient characteristics of the subject property must be
itemized. Then, these same points should be covered for each comparable sales property. Not every
property that has recently sold on the local market is a comparable sale. Both physical characteris-
tics and market conditions and terms of sale be investigated. This is where judgment on the part of
the appraiser is required. The basic test is whether the property selected as a comparable sales is, in
fact, effectively competitive with the subject property in the mind of the typically informed pur-
chaser in the present market.
Data on sales comparison must be obtained to indicate the basic characteristics of both the property
and the transaction. This information should be assembled systematically, so that it can be present-
ed into a standard format developed by the appraiser for ease of use and understanding by the cli-
ent. Basic information about each comparable sales transaction that the appraiser should obtain in-
cludes date of sale; sale value; type of deed; legal description of property; names of grantor and
grantee; documentary stamps; amount of consideration, if indicated; verified sales price; motivating
forces or condition of sale; terms of financingl and personal property, if included in the sale.
The appraiser should also develop information on property data. This usually included subject items
as type and style; size; functional utility; age and condition; special features; accessory buildings;
zoning and deed restrictions; location; taxes and assessments; list price and length of time on the
market; and unusual elements of function or locational obsolescence.
In making a presentation for a comparative analysis in a narrative appraisal report, detailed infor-
mation about the comparable sale property, with respect to both the property itself and the transac-
tion, should be provided in a systematic format. The reader of the report should be able to visualize
the element of comparability and differences between the comparable sales property and the subject
property. All salient and pertinent elements of comparability and differences between the compara-
ble sales property and the subject property should be listed, but only salient and pertinent features
should be listed. Minor elements that have no influence on value or marketability should be exclud-
ed.
P.O. Box l3lsg2,Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 98
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - c'L.4RKE T. G)SET, PRINCIPAL
MARKET APPROACH
The subject is located in a built-out marketplace. Undeveloped parcels are extremely limited and most often
no available for market selection within a market approach. When available, und-eveloped land was utilized,
but tear-down properties make up the majority of the land sales and new development sites within the sub-
ject's marketplace.
The subject property is located in the city of Falcon Heights. The subject city is 2.24 square miles in area
and about 3-4Yo of the total development is classified as commercial. Given this, the comparable geograph-
ic area was expanded to other communities.
There are a limited amount of land transactions similar to the subject within the immediate timeframe, thus
the market timeframe was extended to enlarge the transactional pool on which to make comparable selec-
tions.
The comparative sales analysis consisted of research through known record collecting systems of tax rec-
ords, Multiple Listing Seruice, County data, appraisal file records, CRV data at Plat Systems Services, and
other networks.
Comparable Selection Excluded:
. land sales that were developed into moderate to high density housing after purchase. Sales based on a development projection that did not come to fruition. Transactions that were considered atypical in regards to market value transactions.
Comparable Selection Focused on:
o Site SqFt
o Frontage/Corner Lot
o Proximity to University
o Transit/Traffic Score
o Floor Area Ratio (FAR)
o Synergy /lVlarket Demand
Category
Site Size
Frontage
Corner Lot
Proximity to Uni-
versity
Transit Access
Traffic Count
Accessibility
F'AR
Rationale & Direction
Larger sites typically trade at lower PSF (negative slope).
More frontage increases retail visib il itylvalue (negative sl ope).
Comer parcels command a premium
Closer to UMN can yields higher land value
A-Line BRT and other transit boost land demand
High vehicle counts often mean higher exposure
Drive-in/drop-off ease affects pad rentability (
The larger the footprint the larger the revenue streem, the larger the value per square
foot of land
Strength of adjacent usesSynergy Rating
P.O. Box 131592, Roseville, Minnesota 551 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 99
MINNES'TA REAL E,STATE APPRAISAL SERVICES, LLC - CLARKE T, G,SET' PRINCIP'41
MARKET APPROACH
This search yielded approximately sares was the building- size. The majority of sales within the subject's
marketprace that rr"r""i""r*ed over il;;;ast trave ueen J"u"toprd into apartments buildings which
are significantly larger than rhe 5,000.squai;;"i cap for rh" ;b;; ciu"n this, ttt. majority of recent sales
were excluded. Froin-this list ort*.ru".]L1., *.r. ,.t..t.i"#a,rr""gr't the most comparable properfies
available.
A discussion on procedure of the market approach follows:
. select appropriate varue indicators are assigned for each comparable d.epending on market norms'
Appropriat. uuilrl ;;i;, will be?Jriu.a-tu"o d;,;t;io"' of buvers and sells in the mar-
ketplace' , , , ^+ i. .ified factors, a downward
.Ifthecomparablepropertyilsuperiortothesubjectintermsoftheidenl
percentage uA:utittni is made to the comparable'
. If the comparable property is inferior to the subject regarding a certain characteristic' the compara-
ble is adjusted upward . 11- ^^.-^^.ol,raq are surnfigd which provides a to-
.Cumulativepercentageadjustmentsforeachofthecomparablesaresun
tal net adjustment *t i"t, is then -"rripri.o by the .*tt iq"iualent sale price to indicate an appro-
-*;:ffi:::;:ffi:$ltd and reconc'ed. rhe sares that provide the best indication orthe
market varue *'i i" identified, *o irr. "J:usted
indi"atei vut r., *itt ut reviewed and a final value
::i:::'::il*ables were complied into a grid formar and adjusted on a per unit basi-s' Adjustments
to the comparables were made b"r"i";;"*y 1etrt1' ffi;1g. ana ilaitions of sale' market con-
ditions/ time of sale, and rocation #;'n*"al'characteristics. iht upp'uisers adjustments are based
upon severur ru.io.*. In most irrrtur"l, i.rtui.r adjustments are hard to provide market support for be-
cause of the lack of sales. wt ".. tt .r. is insurrrci.n, ,ut"'io*ril; an adjustment factor' the apprais-
ers judgment anJexperience *i,,;; ;plied. In mostlnstancli the appraisers estimated adjustment
;u""to; tiru u" derived from market research'
MINNESOTA RE,AL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. GOSET, PRINCIPAL
MARKET APPROACH
Instead, the hedonic regression (especially the weighted least squares) provides the next-best set of in-
cremental adjustments for each factor, controlling simultaneously
for all others. Below is a summary of the WLS coefficients recast
as dollar-per-square-foot impacts (with approximate percentage
impacts relative to the sample mean PSF of $45.05/ft'):
Here's a heat map showing the percent impact per unit
change for each attribute in the adjustment framework:
Slt€ SqFt
Front6ge
Corner Lot
Unlversity Proxlmity
Tradsit Aacess
llrtllc Counl
Ac.e$ibUlty
SynerEy Ratin!
of o/o lmpact per Unit
lmpact
. Color scale: hotter (yellow) : larger positive impacts;
. cooler (purple): larger negative impacts.
o Attributes are listed on the vertical axis, and their per-
cent impact (relative to the $45.05 mean PSF) is encoded by
color intensity.
This visual quickly highlights which factors drive the largest
positive (e.g. Base FAR) and negative (e.g. Corner Lot) adjust-
mgnts'
B6se FAR (Mld vs
These are represented from deviations from the mean, not
to a specific property or the subject.
B
E-10
-20
-30
The subiect nropertv compares with the sample pronerties bv the following:
Site Size (21,897 sf)o The dataset spans roughly 11,400 sf at the 25th percentile up to about 38,300 sf at the 75th per-
centile (mean -31,900 sf).
At -21,900 sf, the subject sits just above the median (=20,900 sf)-around the 52nd percentile-so
it's very much in the mid-range of lot sizes.
Frontage (91 f0o Frontage runs from about 84 ft at the 25th percentile to I34 ft at the 75th percentile (mean=l12
f0. With 91 ft, 1407 Larpenteur falls below the median (=112.5 ft), roughly in the bottom third of
the group-so it has less street exposure than most comparables.
Proximity to University. One-third of the comparables are o'Close," half are'oFar," and the balance "Mid."
1407 Larpenteur is "Close," placing it in the upper third-benefitting from university-driven foot
traffic and demographic support.
Traffic Count ("Medium")
While many comparables list only "Low" or "High," the subject's "Medium" designation suggests
moderate vehicular flow-appropriate for neighborhood-serving uses but below true arterial vol-
umes.
Shape & Corner Lot. Only lloh of sites in the dataset are square; most are rectangular.
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net l0l
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'LARKE T. GOSET, PRINCIP, L
MARKET APPROACH
. Similarly, just -17% are comer lots.
1407 Larpenteur is both square and corner-which is relatively uncommon-so it enjoys better visi-
bility/ingress than most but with the limitations of a small shallow footprint.
Transit Access ('oModerate"). Over 80% of comparables have 'oHigh" transit access; only -I3o/o are ooModerate."
This tells us 1407 Larpenteur is somewhat less transit-rich than the average comparable-but still
better than'ol-ow."
Development Potential & FAR. Most comparables are already developed or under redevelopment; 1407 Larpenteur remains a
vacant pad with a 5,000 sf-max commercial cap under B1 zoning.
Its allowed Base and Bonus FAR of 0.2310.23Iie at the low end of allowable densities-again posi-
tioning it more as a small-format service node than a mixed-use infill site.
Synergy & Demand (Both Rated "3/lVloderate")
A rating of "3" for both metrics is squarely in the middle of the scale-indicating average compati-
bility with nearby uses and average market pull compared to the full set.
Macro & Micro Considerations. Like many first-ring suburban lots, it benefits from high educational attainment and A-Line BRT
frontage, but it lacks deep retail corridors.. Micro-level, its compact, square shape under B1 zoning limits building scale (<5 000 sf) and
precludes residential uses without rezoning, putting it al an infill-potential disadvantage versus
mixed-use parcels.
The following is a brief discussion regarding the adjustments made in this analysis.
Property Rights Conveyed - It is very important to consider the property interest conveyed in a
commercial transaction. In a majority of comparable sales transactions, the fee simple interest is
conveyed where by the seller secures all rights in the real estate. This line item adjustment has
been presented in the case where the seller retains some ownership rights, or a third party has
some form of ownership interest. Certain property interests that would be considered in this ad-
justment would include any retained ownership rights by the seller, easements or restrictions that
have a significant impact on the marketability of the title, or a tenant's leasehold interest. It is
important to note that this appraisal assignment is to develop the estimate of the market value of
the fee simple interest, and therefore it is necessary to make an adjustment for any transaction
when total ownership rights have not been conveyed. No Property Rights adjustments have been
made to the comparables utilized, due to all comparables being judged equal to the subject.
Financing- All of the comparable properties have been analyzed with regard to the cash equiva-
lent sale price. A cash equivalent sale means an all-cash transaction or cash to a new mortgage at
conventional rates. Generally speaking, when cash equity is less then market rate and/orl con-
tracts for deeds are negotiated at interest rates below the normal level of interest rates that could
be secured from banks offering conventional first mortgages, a downward adjustment is then in-
dicated. All transactions consists of all-cash, or cash moftgages, or contract for deeds with mar-
ket rate terms. No adjustment for financing is indicated to any of the comparable sales utilized.
a
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreaporaisals.com e-mail: cgoset@comcast.net 102
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C,L.4RKE T. G)SET, PRINCIP,4L
MARKET APPROACH
. Conditions of Sale- The definition of market value requires the appraiser to consider conditions
of the sale that have a profound impact on the transaction. The definition of market value makes
the assumption that both the buyer and the seller are typically motivated and are will informed.
This factor considered the motivation of the buyer and the seller for specific transaction, and
makes an adjustment in those special circumstances when the conditions surround the particulars
sales does not meet the traditional market value definition. Special condition mandating the ad-
justment would included a distressed sale, a transaction where an adjacent property owner ac-
quires a property at a higher rate to accommodate assemblage and plottage, or when a particular
seller has to dispose of a property and is unable to expose the property to the market for a rea-
sonable time. The market value definition specifies certain criteria for a transaction to be con-
sidered truly comparable. The definition assumes that a reasonable marketing time is allowed to
effectively market the property to well informed users. Therefore, it is appropriate to make an
adjustment for those transactions that have occurred that do not meet the criteria established by
traditional market value definition. No adjustments were applied, all comparables were consid-
ered equal to the subject in this regard.
. Market Conditions - Marketing conditions were adjusted by I.5% per year and thought reflective
of the marketing differentials for the comaprables utilized.
. Location differentials - The location differential adjustments are utilized to equalize the compa-
rables utilized and the subject property on factors such proximity to employment, education and
recreational venues, mean and average housing pricing around the immediate area, and demand
for housing stock. These adjustments tend to be ambiguous and are hard to define by market
transactions. The appraisers applied adjustments mostly based on experience, conversations with
developers, and City and County officials. If adjustments were made, the reason for such was
noted on the comparable grid. The most significant reason for locational adjustments was based
on synergy and market demand around the subject and the comparables.
Notes on categories:
Synergy
Factor (weight) Indicators we used
Land-use mix (35 %) Presence of residential + retail + employment uses within 600 ft
Transit frequency (25 %) > 15-min headways -+ *1; rapid/BRT/Lp1 -+ +2
Recent or active development (20 %) Permits or news of new construction, adaptive reuse, or rezoning since 2022
Ped / bike connectivity (10 %) Complete sidewalks, bikeways, trail links
Amenity density (10 %) Cluster of cafds, grocery, parks, cultural venues within a 5-min walk
Scores sum to 1-5
. Tier-S synergy nodes share three traits: transit trunk lines, active multifamily pipeline, and at
least two ground-floor commercial frontages in the same block.
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreapnraisals.com e-mail: cgoset@comcast.net 103
MINNESOTA REAL ESTATE APPRAISAL SE'RVICES' LLC - CLARKET' GOSET' PRINCIP'41
MARKET APPRO ACH
. Market Demand:
Scale Legend
o 5 (very rrigh): - corner of maior ToD corridor, active tt:ilt1";r:ili"",'ri.* n,gher-ed or office hubs'
: i lil,tl];;li:ffi j;il;l:'il.ffi **,,:;rl,:[".T::T ;illl; ;;; n n'rm a ma'lke'[s
o 2 (Low-rvroo"rut.;, - Secondarr."rl'ffi"t "gi"e '"*ir 'iti?"i1ti"1ti:?lt:tt'slower
rent growth'
r l (Low), _ rroru*i ,.tuii pua, "; ""r.r]n",.tr'ip,
iu"t ing wartauirity' transit' and investment momen-
:*;differentiars were not adiusted, arl comparables utilized were considered equal to offset-
ting.
o site size differentials were.adjusted if the compara!,le was consideredsisnificantty different than
rhe subject ""d
*;;;r.o on rrr.rnuJrl.^pri." r.ri ,""rniJfJ#* p"*tr Jize undprice per square
foot.
.Concessionswereadjustedpefcomparableandnotedonthecomparablegrid.
il:;*fr':,'#ffi ::'#il;Hffi '"T#i:'il:*Y:H''il#3:,';"l*"i#iilr
$Tri#lffi "##*Hi.'$#**l*nrrro*,:*j,i:3iffiiruxr,a,i**l'
;1?fftri*ffJ*ft*'::n';,'tt:Uff."i"T;.::'iiffii' '"ri"'i"' orthe subject's zoning
:',::''fr'*::::]'j]"ffiabre comparables.yd the arnbiguous nature orthe adjustlelts due to
rhe lack or ri.irlr-rui", o' which * "o#J"urti.u*viillifr;ffil;,
the entire comparable base was
Key Summ aryDalafrom Comparables'utilized in this analysis'
- o,..-ffiqr\/ Data from Comparables'
Range (Observed)
Metric
Cash-Equivalent PPSF
Cash Equivalent Sale Prices
Zoning TYPes
FAR of DeveloPed Sites
Building Sizes
SYnergY Ratings
Market Demand Score
$26.40 - $50.54
$239,906 - $1,914,750
B-2,CI,PUD, R5
0.10 - 1.91
4,000 - 18,816 SF
1-4.5
2 (Low-Mod) to 4 (High)
P.O. Box |3|5gz'Roseville'Minnesota 55113 Phone:612-618-0917 Web
cgoset@comcast'net 104
MINNESOTA REAL ESTATE APPRAISAL SERVICES' LLC - CLARKET' GOSET' PRINCIPAL
Reconciliation
105
MTNNESOTAREALESTATE,APPRAISALSERVICE,S,LLC.CLARKET.G}SET,PRINCIP'41
MARKET APPROACH
Comparableswithheavyresidentialcomponents(e'g.,6)orlargeformat
levant.
Comparables were measured on a Per square footage basis. Below are the descriptive statistics of the com-
price per square foot, before and after adjustments were aPPlied.
parable base,
DescrPtlve Statis ilcs Indicated Price Per Square Foot AFTER
DescriPtiveStatistlcs Price Per Square Foot BEFORE Adiust-
A
o Use ComPatibilitY:
uses (e.g., 5) are less re
Final Indicated Value
The subject site comprises 21,892.er ,quu"'rtti "to -"t1.* U t*onciled rate of $30'83-$32'55 per
square foot, the iJifi1j;;il; oitt. subject property falls between:
o Low Range: 2t,897 '6I x $30'83 = $670'000' rounded
. High n^og., 2i ,ggl 'il x 532'55 = $712'000 rounded
Due to the constraints for the 5,000 bu'ding cap noted in the highest and best use analysis' the lower
end of the range is given the most .";;;ion herein. ri"., irt. varue found herein is $670'000
and is based on the-lower end of theindicated varue wiit considerable consideration of the high-
est and best use analYsis'
The comparabre grids are rocated on the proceeding pages with the comparable salient data following
P.O. Box l3lsg2,Roseville' Minnesota 55113 Phone: 612-6 1 8-091 7 Web: mnreappraisals'com e-mail cgoset@comcast.net 106
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC-CLARKET.G)SET,PRINCIPAL
MARKET APPROACH COMPARABLE MAP
t!3ll $r4 llt PAnr a
14{}7 LarPenleur AreW
1 ruhonH.itftc,Minneeda"
rdlfi
I*H!'yal Credit
g 2640 Riffi Sr
Saint Paul, I'linneeota 55't
I
T
t{
,
Fskon
lI"'
Sl AfihonY
t"
Neru.e
lo6evllle
;ffi, 1330I t*n,
| .oto tiq*
Fdsctrla Strect
' ztrlSPdscihSr
Saint hd. lirlinnesde 551 f
Larpfiteur ArrBW
Pari, Minnem{a55'l '-
j roil)t alto ?rYlrt
eo!rH 0tmllYE ltso
s
ttfat -AtilAf0ug
Sl Pilil
o!loafoxl
1212 PrnsPerilY Ave4 stintPtt l'Minnemta56l
!}'
trttorr !ruFF €o ltll AY
Bedch
tlriffl' an0ttGrs*Ie
l+t
-lla"
0Villft
I
IcU
I
0,,l
lt00 42
O 420053?ndAve
f,f,rnneaPolie, Minnesota 5-' -
I'IOMA€ OAL:
HAC- CF(
c^ttl"Rr!
Tumblo Fr@hCoif, Laund -
217,15GrddAF
SdintPaul,Minl1@ta551 "
5100 S 43rd Ave5 Minrr*"oolis.Minne*sle5"'
{$r 6
]U T HU TS'ilxElPrut
,,t,"""^"
Park
lA?Iiltroxo t
P.O. Box l3lsg2,Roseville' Minnesota 55 I l3 Phone: 612'618-0917 Web:mnreaPPraisals.com e-mail :cgoset@comcast'net 107
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - c,LARKE T. G}SET, PRINCIP,4L
MARKET APPROACH COMPARABLE GRID (1 OF 2)
Address
sale Prlce
PPSF At time ot
Sal.e Date
Months Past
Property ldenti-
Transaction
Specifics
Adlusted Sale Plice Given a
cash
Cash EquivalencyValu€ per
Property Spe-
cific BuiLding Size
Ave Falcon 1745 Grand Ave, Saint Paut
725,OO0
43.80
I
156.25
$156.25
$M.29
ConvenienceBusiness B-2Commu Business
t4id
Medium
9t
Not Controtled
2
2640 Rice Littte Canada
$
$40.53
$
PI.JD Commerciat
7272
44.43
51
750.00
47.26
B-2 Commu Business
11.00
Far
Tier Moderate
Saint Paut
re
812212024
0.025
752
-0.03
-0.03
45
42.47
24,302.00
a17212027
0.025
-0-1
747
-0.03
0
0
0
Mid
uare
Moderate
Tier Moderate
2lrol2027
0.05
0.05
-0.1
240
-0.1
0
-o.2
-0.03
0
4300
Not Contlotled Controttedlntersection Corner,Controlted
-o.2
2,Tier
0
ssgOOOEslcommerciat,no ServiceStationDemolishedRedevet- Convenienceretajtredevelopment NewBankofAmericabranch
unless a into a TumbLe Fresh Credit llnion
5000 4755 4000
Site SoFt
Proximity lo
Traftic Count
FlontaEe ft
shaoe
Corner Lot
Access to
Accessibitity
Developed
Outcome
DeveloDed FAR o.23 0.29 0.16 0.11
lmmediate
Devetopment
Proximity
Synergy Rating
Itlarket Demand
seruice strip (taitor, take-Corner parcelunder pelmittoreptacea NewLy buiLt RoyalCreditUnion Stand-aLone Bank of America branch
with drive-thru; btock otherwise
small post-war homes and St. Ber
nard's church campus one street
south. (LoopNet, Bank of America)
convenience) on shallow lots; singte former Eas station with a 4,700 sf self- branch with drive-up {anes; adjoin-
homes stad one parcel north.serue laundry; flanked east/west by ing tots hold strip-maL[ retait and
itser stil[ a vacant commerciat neighborhood-scale boutiques and caf6s chain iast-food, forming the Rice &
(Reattor, Yelp)typicat of Mac-Grovetand. (Buildzoom, County C commercial node. (Royat
Credit
4.5
-0.15
4 (High)2 (Low-14od)2 {Low-l'4od)
.0.03 0.03 0.03
First'ringsuburb;higheducationalat- Mac'Grovetandestreetcarretaitspine; High'trafficRice/CountyCcom- EastsideSt-Pauttower'income
tainmentduetolJMNcampusnearby; stablemid'incomestudent/faculty merciatcorridor;strongcommuter district;slowervaluationgrowth;city
MacroConsid- arteliattrontagewithA'lineBRT;timlted demand;strongretaitrenls;parking countstodowntownSt.Paul;agingsmatt'businessfasadegrants.
erations retaildepth;cityencouraging constraintspersistent. proEdensity retaitstock;moderateretaitteak- pro€densitypolicies,activereinvest-
smatl'scale mixed use. stable demand poticies, active reinvestment. Hightfre- age to Maplewood Matt; transit ment. HighAfrequency transit sup-
and intill Moderate tlansit.transit TOD.TOD.
pact square site; zoned 81 Neigh- Comp act wide rectangu lar site; zoned B- Com pact sq uare site; zoned PU D Large very deep site; zoned B-2
Community Business; high transit
access; developed into: New Bank of
Convenience Business; moder- 2 Community Business; high transit Commercial; moderate transit
transit; development unknown access; developed into: Mlxedguse access; devetoped into: Conven-
st retait/off ice retrolit ience retail America branch
Net Adjustment (o.271 {0.28)(0.30)
2
0
2
0
2
0
lndicated Value $ 538,869.84 754,294.53 1,340,325.00Reconciliation
lndicated Vatue $32.55 31.04 33.09
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 108
MINNE,SOTA REAL ESTATE APPRAISAL SE,RVICES, LLC - C:L.4RKE T. G}SET, PRINCIP.lL
MARKET APPROACH COMPARABLE GRID Q OF 2)
Address
sale Prlce
PPSF At tlme of
sale
Sate Date
Months Past
sale Daie
Zonlng
4 5
4200 S 32nd Ave (Now 3115
36.43
117512020
Fat
0.05
0.05
-0.03
Wide
-0.05
-0.03
Tier
2320 Priscilla St, Saint
Paut
1330 Larpenteur Avenue West,
Falcon H
405,000
46.52
812a12079
50.54
Traditionat
705.00
Close
Medium
113
-0.03
Wide
-0.05
Corner ControtLed lntersection
-0.2
.0.03
Tier
-0.03
Curently DeveLoped with 793
square foot 1694 buiLding. The tast
sale was considered an invest-
ment sate with the vaLue lying in
the land
Property ldentifi-
cation
Transaction
Specifics
Adlusled Sale Prlce Glven a 1.5%
Cash Equlvalency Value per SqFt
Property Specific Bulldlng Slze
Developed
1407 Larpenteur Ave W, Fatcon
5400 S 43rd
$
$24.t6
721412020
Cohvenlehce commerciaL R5lu1
.61
Far
0.05
Low
91
-0.03
"0.03
Auto Repair DemoLished redeve[-
oped to EveryThird Saturday
vetetan resource center
-<5E00ffislcommelclal, no (nonlresidentiat) RetaiLon First
untess a
5000
$
247
R4
close
Low
lnterior
Tier Moderate
233,000 $
2s.9s $
312512027
50
27.D6
0.05
0.05
0.03
0.03
-0.03
69
.60
Low
740
0.1
72A
oderate
9152 18816 5356 Not Considered
Site sqFt
Proxlmity to
Unlversltv
Tratllc Count
FrontaPe ft
shabe
Corner Lot
Access lo Ttans-
Accesslbltlty
Devetoped
Outcome
Developed FAR 0.23 1.01 7.91 0.59
Development
lmmedlate
Proximity
Svnergv RatlnE
Market Demand
Score
servlce strlp {tailor,
convenlence) on shallow
slngte-tamity homes slart one
commelciat pad. (Reatior,
(Moderate)
5,300 sf vacant residentiaI
MOD42-four-story market-rate lot in Saint Anthony PaIk's
2,400 sf 1950s rambter amid apartments with structured "Priscilta Commons"
Nokomis single-famity grid; three parking; btock edges inctude 1% micro-redevetopment
bLocks east, 46th St Btue Line -story post-war cottages and the zone; surrounded by targe
station is drivingtownhouse and l4idtown Greenwaysix btocks custom homes and U of Nl
ADU infilt.research Iacilities.
0.1 0.1
2 (Low-Mod)3 (Moderate)2 (Low"Mod)
0,03 0.03
2
0 0
Mid-1960s one-story commercial
structure on arteriaI f rontage
3 (Floderate)
Flrst'rlng suburb; hlgh educatlonal Landford Park single'famity
attainmentduetoUMNcampus Nokomisneighborhoodstability; South'centralinfittSOf4A;bike enclave;biotechemploy-
.. nearby:arterlalfrontagewlthA'Line proximitytoLakeNokomis cuLturevial'lidtownGreenway; mentanchors;lowinven-Macro.c^ffildetr gnr; tiilteo retalt oeplh; clty encoutr amenities; ADU trend boosting moderate rents. pro3density tory, pro?density poticies,
aglng small'scale mlxed use. stable density. pro3density policies, poticies, active reinvestment. active reinvestment.
demand and lnfllt potentlal. Moderate active reinvestment. Highnfre- HighEfrequencytransit supports HighElfrequencytransat
Como Park edge; moderate
commuter counts; small'business
distlict focus.
site; zoned B1
Convenience Eusl-
moderatetranslt;development EveryThird Saturdayvetelan
l<58000 sl commerclal, no resource cenler
o.o7
TOD.
compact wide rectangular
Compactwiderectangularsite; site;zonedR4Singte 0.36'acB'1one'storystrip;35'ft
zonedR5l4ultipleFamity;high Famity;hightlansitac- heighttimit;shattowparkinglietd;
transit access; developed into: cess; developed into: shared ingress with adjacent
(0.21)0.11 {0.3s)
TOD. TOD.
Compact square site; zoned C1
Neighborhood Commerciat; high
transit access; deveLoped into:
Net Adjustment
Hicro Conslder-
atlons
lndicated Value
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 109
MINNESOTAREALESTATE,APPRAISALSERVICES,LLC-CLARKET.G}SET,PRINCIP,4L
COMPARABLE SALIENT DATA
Com rabte 1
745 Grand Saint Paul'
$000
B-2 Commu Business
00
Mid
I !i.l'11:il (1 :-!'Lil-l- i
t'r'.,,ld. jr.4.{\r I
^nCHmlCtURALCON5ORnUM Lrc
Nit3lE FRESflcoll{ tAtroRY
Not Controtted
2,Moderate-H
rvice Station Demotished into a Tumbte Fresh
0.29
rner parcel under Permit to rePlace a former gas station with a 4'700 sf
setf-serve taundrY;ftanked east/west bY neighborhood-scate boutiques
d caf6s tYPicat ot Mac-Grovetand' (BuitdZoom, YetP)
ch)
At.l
\52
Buitding Size DevetoPed 4755
DevetoPed FAR
Address
Sale Price
Sate Date
Zoning
Site SqFt
ProximitY to UniversitY
Traffic Count
Shape
Corner Lot
Access to Transit
DeveloPed Outcome
DevetoPment lmmediate
ProximitY
Rati
Market Demand Score
Macro Considerations
Mac'Grovetand Gstreetcar retait spine; stable mid'income student/
facuLty demand; strong retait rents; parking constraints persistent'
O.tJ.*,aV Ooticies, active reinvestment' HighEff requency transit sup-
TOD
act wide rectangutar site; zoned B-2 Community Business; high
access; d into: MixedEuse retait/offi ce retlofit units N/
ansit
p
Micro Considerations
P.O. Box l3lsg2,Roseville' Minnesota 551l3 Phone 612-61 8-0g 17 Web: mnreappraisals'com e-mail: cgoset@comcast'net I l0
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. G)SET, PRINCIPAL
COMPARABLE SALIENT DATA
Controtted lntersection
er 3, Moderate
retait ment Credit Union
Buitding Size Devetoped 4000
2
lruoo *,.. st, Littte canadaAddress
Sal,e Price
Sate Date lanztzr
Zoning
Site SqFt
000
1
PUD CommerciaI
24,302.00
Proximity to University
Traffic Count
d
Frontage ft iqt
Sha
Corner Lot
Access to Transit
Accessibitity
Developed Outcome
FAR 0.16
buitt Royat Credit Union branch with drive.up tanes; adjoin-
tots hotd strip-matt retail and chain fast-food, forming the Rice &
C commercial node.tCredit Union
Macro Considerations
High'traffic Rice/County C commercial corridor; strong commuter
counts to downtown St. PauU aging retait stock; moderate retait
lea to Matt; transit u
square site; zoned PUD CommerciaU moderate transit
cces deve into: Convenience retail redeveto ment
Development lmmediate Proximi-
ty
Synergy Rating
Market Demand Score
Micro Considelations
P.O. Box 131592, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net I I I
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIP.4L
COMPARABLE SALIENT DATA
Com 3
Bank of America branch me
Buitding Size Devetoped OaOO
1212 Prosperitv Ave, Saint Paul,Address
Sale Price $ 1,8oo,ooo
Sate Date 2t70t2021
Zoning B-2 Community Business
Site SqFt 40,511.00
FarProximity to University
Traffic Count High
240Frontage ft
Shape Generattv Rectangutar
I
t
O
I I
Corner, ControttedCorner Lot
Access to Transit High
Iier 3, ModerateAccessibitlty
Developed Outcome
FAR
Macro Gonsiderations
0.11
nd-atone Bank of America branch with drive-thru; btock otherwise
tt post-war homes and St. Bernard's church campus one street
(LoopNet, Bank of America)
Low-Mod)
Eastside St-Paut lower'income district; slower valuation growth; city
smat['business fasade grants. protsdensity poticies, active reinvest-
ment.transit su TODu
very deep site; zoned B-2 Community Business; high transit ac-
deve into: New Bank of America branch
Devetopment lmmediate
Proximity
Synergy Rating
Market Demand Score
Micro Considerations
P.O. Box 131592, Roseville, Minnesota 55113 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 112
MINNESOTAREALESTATEAPPRAISALSERVICES,LLC.CLARKET'G}SET,PRINCIP,4L
COMPARABLE SALIENT DATA
4
I
Buitding Size DevetoPed
FAR
Macro Considerations
Not Controtted
2,Moderate-Hi
Repair Demotished redevetoPed to EverYThird Saturday
n resource center nonEresidenti Retait on First Fto0r
9752
1.01
sf 1950s rambter amid Nokomis singte-famitY grid; three
east,46th St Btue Line station is driving townhouse and
infitt.mes.com
Nokomis neighborh ood stabititY; Proximityto Lake Nokomis
amenities; ADU trend boosting densitY proEdensitY Poticies'
active u transit su TOD
mpact square site; zoned C1 Neighborhood Commerciat; high
nri*..tt, devetoped into: Every Third Saturday veteran re-
ource center nonEresidenti
cgoset@comcast.net ll3
2
OS 43rd Ave, MinneAddress
$225,000Sate Price
20Sate Date
rhood CommercialZoning
9,087.00Site
toU
Tratfic Gount
ShaPe
Corner Lot
Access to Transit
AccessibititY
DevetoPed Outcome
DevetoPment lmmediate
imity
Market Dem and Score
Micro Gonsiderations
P.O. Box l3lsgz'Roseville' Minnesota 55 I 13 Phone: 612-61 8-0917 Web: mnreappraisals'com e-mail
COMPARABLE
MINNES.TA REAL ESTATE, APPRAISAL SERVICES, LLC - CLARKET. G,SET, PRINCIPAL
SALIENT DATA
l
rabte 5
S 32nd Ave 3115 M
Moderate-H
residentiaI
Buitding Size DevetoPed 18816
Develo FAR 1.91
D42-four-story market-rate aPartments with
red Parking;btock edges incLude 1%-stotY
r cottages and the Midtown GreenwaY
btocks north.ents.com
Moderate)
MacroGonsiderations South'centratinfittSOMA; bike cutture via Mid-
town Greenway; moderate rents. ProEdensitY
poti cies, active reinvestment'HighElfrequencY
transit TOD.
ct wide rectangular site; zoned R5 Mutti-
le FamitY; high transit acces s; devetoped into:
u residentiat
Address
Sale Price
512020Sate Date
te FamR5MZoning
Site 7.00I
t
I
I
I
Proximityto U
Traffic Gount
ShaPe
Gorner Lot
TransittoAccess
AccessibititY
DevetoPed Outcome
DevetoPment lmmediate Prox-
imity
Market Demand Score
Micro Considerations
P.O. Box l3lsgz,Roseville' Minnesota 551 l3 Phone: 612'618-0917 Web:mnreaporaisals'com e-mail cgoset@comcast'net ll4
MINNESoTAREALESTATEAPPRAISALSERVICES,LLC.CLARKET.G)SET'
PRINCIPAL
COMPARABL E SALIENT DATA
I
LiI
j
tI
1
:
i
6
3,Moderate
uttifami
5356
0.59
sf vacant residentiat tot in Saint AnthonY ParKs
Priscitta Commons"micro-redevetoPm ent zone; sur-
by targe custom homes and U of M research
Landford Park singte'famitY enctave; biotech emPtoY'
ment anchors;tow inventory.protsdensity poticies, ac-
tive reinvestment'H transit su TOD
mPact wide rectangutar site;zoned R4 Singte FamitY;
transit access; d into 3 units
Buitding Size DevetoPed
FAR
Macro Considerations
Priscitta St'Saint PautAddress
Sate Price
Sate Date
Zoning
I,L47.60
GountcTraffi
ShaPe
nteriorCorner Lot
TransittoAccess
Accessi
DevetoPed Outcome
DevetoPment lmmediate ProximF
ty
Market Demand Score
Micro Gonsiderations
P.O. Box l3lsg2'Roseville'Minnesota 55113 Phone 612-618-0917 Web mnreaPPraisals'com e-mail: cgoset@comcast'net 115
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
COMPARABLE SALIENT DATA
rabte 7
13
Recta
Controtted lntersection
Hi
Devetoped with 793 square foot 1694 buitd-
The tast sate was considered an investment sale
the value in the tand
Buitding Size Devetoped Not Considered
FAR
1960s one-story commercial structure on arteriaI
(Moderate)
Macro Considerations
Como Park edge; moderate commuter counts;
small'business district focus.
36'ac B'1 one'story strip; 35'ft height limit; shatlow
fieLd; shared with rce[.
1330 Larpenteur Avenue West, Falcon Heights
Address
Sale Price $ 405,000
Sate Date 8128120t9
Zoning
12, Traditionat Neighborhood
Site SqFt 8,705.00
Proximity to University Close
Traffic Gount
Frontage ft
Shape
Gorner Lot
Access to Transit
Accessibility
Devetoped Outcome
Development lmmediate Prox-
imity
Synergy Rating
Market Demand Score
Micro Considerations
P.O. Box 131592, Roseville, Minnesota 55 I l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net I l6
MTNNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKE T. GOSET, PRINCIPAL
DEMOGRAPHICS
140/ Lorperrteur Ave W
New
J
a
rtl t.i
Itilts
irr
, Lrttle
aa
IIt
t
taa
PAIK
t
IaI
tI
Sr Louis
ttt
MIIACAIESTE, CROVELA N
DEMOGRAPTIICS
p
t
a
.t
Pogotstdt
Poprliatrm
5 Yr€rcr,Ol
Whit€
Besr L6kE
l-
' LakeiElmo
\ J I
Lake Elmo rPark Reserve ''14I
IJ ! DANctilcWAT€T9
/ stoneutrl nMsa
Radlus Drlvc t \larr d6la :$:5 **-i!.rle
rmb
tx195
-2-7%
41
ttlht
illg,tF7
5ili&r
38$,tlir8
-zS8
l0tlilct
1,19S,969
l0lftn txluB
260,m1
-2.#-1.4*
Itedrsn Age
SYrFlrosl
vvhite tBrcl, Hirydc
a5
37
a1xt14%17%
37 u
38 36
6{rr, ts%tgpi flnar 1,l1r?95
flrr t 15J6r gfi a0'At t1xI7*
826,789 l3{t,l,l0
t35.78 t?B
-2-X -2.!fr
42.1%52.5!a
5 YrForecad
Ernplol,ilHd
Euying PoIEr
a1xt14*t796
310,3Kt2
45.6,ts
5 Yrcraur0l -3_fi6
.15-$LCdbgE qaduateg
tlous.$dt
Hqtsehdds
553!e
5,615 44,/f}9 t5g.185 {95,9rl
5 Yrcror,frr -2.€*-2-4&-1.4*-2.6tt
tledisn tlouseM lndne ts!',m7 t67,S01 $71.990 $68,212
5 YrFoc€art 169,51't tG7,.126 $71,St8 $8,m5
A!€rage th.FeHd lncofiE trx},m3 NS?,0S3 i9{.$4
5 Yr Fo.ecdst 11il'zlr lgt,tlt9 lso,11s l€5,917 lg{,048
96FfqhkErcF 75fi)
ilollsfng
lHhn tlorrE Value
55!g aa|6 4594 .|a96 ils'B
|Q05,538 i?ae.782 s?14,832 s296,877
Median Ye€rgdli
OrYrEr, Rer{E Oc{qied
1955 lirco 'ts6t 1963 t95s
64l.r3ffi 50sa r 50%53'&t$%47$r5$S
GiEntr
-2.#
36
110.88
42
75?t#t*t496
37
5816r 15%r6%
75tffit*t19f
14861ll
4,,146
58ta r15*16r(
t3.tB
91.'t90
l-z.ss-s_il%
'a4,',172
-2-8%
t88,549
$(E,212 $n,840
469ar 3t*
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreannraisals.com e-mail: cgoset@comcast.net l17
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.'IRKE T. GOSET, PRINCIP.4L
DEMOGRAPHICS
1407 Lorpenteur Ave W
3 Mile3
,14,440
6,615
8.573
8,787
5"9t14
4,132
3.187
4,268
2,9V4
lso,82o
169,8tt7
3 I'lile3
l't,38
370.6r,r
$is2.6M l
$1S.4M
s43.2M
s3.3M
$34M
$92 7M l
5 Miles 'to tuin. Drive
't0?.6472024 Houeeholds by HH heome
<$25,000
$25,000 - $50,000
$50,000 - 675,000
$75,000 - $100,000
$J09,000 - $125,000
$125.0t)0 - $'150,000
$150,000 - $200,000
$200,0ff1+
2024 Avg Hous€hold lncorne
202.1 Med HoGeho,d lncome
Tolal Specified Consumer Spending
Toial Appr(el
Women's Apparel
Men's Apparel
Gid's Apparel
Boy's Apparel
lnfant Apparel
Fcotwear
Total Ent€rtainment A Hobbies
Entertainnrent
Audio & Vrsual EquipmenUservice
Reading Materials
Pets, Toys, & Hobbies
Personal ltems
Totil Fmd ond Alcohol
Food At Horne
Food Awly From Honre
Alcohdic Beverages
Tolnl hiousehold
House Mainlenance & Repair
Household Equip & Fumishings
Household Operations
Housing Costs
r0.59'6 j
17 .714h i
16.61% l
1 | 00%:
11 36% i
8.49% l
16.45% ]
7.78%!
l
l
I
I
995:
333 i
61S l
imBi
477:)
s?4 I
iti,t'
|1Q5,212t
186,54$ i
I4.Bgok
19.29%
1977%
13.29%
9_30%
7 17ah
5.40F,6
2.08%
1.10%
0-38%
0.2906
0.28Ya
1.270,4
159,104
28,2U
30,961
?8,350
t9,111
t3,565
17 76%
19.46%
17,.8201i
12.02ffo
16.53%
19 88%
9.60%
6.6t}%
10,t55
14"453
't4. t39
193,023
s689.5lil
s6s 3M.:
$153,3M,
$11 .BM .
$12t.6M,.:
$333.5M,
$1.3s'
$663.9M i
$541,6M
$97 5M
8.59%
aia"n
9.08%
8.8!]%
5.35ii, :
2.flB%
1.10%
0.37%
4.27"/o
0.28%
1.260/o
18.2706
11.96%
8.3906
6,59%
9.2104
9.08%
167,80t
s,321
t94,094
168.?4?
l0 Min. Drivet hlile
3184.3H
$9.511 !
:$3.8M:
$1.9M:
5.t5%
2 05%
1.05%
5 lriiles
t4,78
t249.8m.
$s6-BM
$5r,3M
$17.3M
$12 8M
$13.lM
s58-5M
!3.18
sr65.7M
$63.4M
5.1V/i
$646.3K
$aB2K,
$449.2K I
$2.2M I
0.3504
0.26%
0.24%
7.19Yo
15.08'1,
1.2&%
3.2&0,6
0.28?,
2.7v
7.45%
27,15nk
13.75%
11.58"6
2.OT/c
2.07"/o
1,090a
0.3906
0.2y6
O.zWlo
1.28%
t27l8tt:
$2.4M,
ie rr*,
$515 7K.
$5 IM,
$13.7M
l
i
:
I
I
14.74%
I39%
3.31%
0.25ol"
2.6V/o
7.I0o,4
28,{08/" i
Id 450,6 lI
11.62Yo':
2.0306;
14.80/?',"
1.49%
3.z9f/q
0.25i6
?.61%
1+63o,to
1.52%
3.24%
E.25Yo
2.57%
7 05%
27.5?k
14 35%
11.52"k
2.85"/"
16.23"/.
3.0496
6.22"fr
4.97e/o
2 0006
7.16%1 $2
s7.6M
$78"8M
16.4M
f367,rH
$188.9M
$151 8M
$26.5M
27.yry,
1425V"
11.63%
2.09%$3.8M
$6.8M
207'h:l$3.8M
17J6".4
3.68%
6 51%
5.00%
t213,5H 37601'l
$140,3M
$294.2M
$231,5M
$94M
s497.7tt
s93.3M
$190.8M
$152.3M
$61.2M
16.34%
3.21%
l
2.021/"
P.O. Box 131592, Roseville, Minnesota 551 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net I l8
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CLARKET. GOSET, PRINCIPAL
DEMOGRAPHICS
1401 Larpenteur Ave W
Tolal Transportationnlsiot
Vehicle Rrcfiases
Gasotine
Vehicte Expenses
Transpoilrtion
Auiunolive Rqair & Mainlenancs
Totd tl€dllh Crr?163.8M
2,f^2611
11_53%
6:996
0.66j6
2.8196
2.97%
{"85!f
Medical SeMccs
Prescdptbn Dngs 1.3!)%
ldedical Supplies $25.1M 0_5416
Totil E&rcatiodoly Car€6.71!,
Educdion 4-2396
Fees &Admissions 24ffi
2g?%
l0lrlin lhivet Iilile 3 ilale3 5 tales
It.'tB e3.gg'n 3z{39H142.5ilt 23,{t6%$X+8ir 2,t llgtn
$r,f8-3M 1t-35%$5252M 112896 $353,6M$19"7M 10-6As6
$192.7M$1lM 5-99i6 5290.8M 624j6
$31-8M 0-68p6 $al:M$1.3M 0-s9s6
$83.3M
T8.6M
6.38i6
0-66%
$35.6i{z_73%$t312M 2-8t36 $86.2M$5M 2-739[,
$5.4M 2.94jfr;fii9M 2.9996 sr38.5M 2-C796 $91-1M
{.08rt i2253ir 1,84'L 1r48.6*rt9.6il 523f4
$5-7M 3-11%2.91%$135.1M 2-S0%$89.5M
s65_1M 1-/t096 $42.6M$2-8M r-54%
frt8M
$t8_5M 1-4296
$1.lM 0.5896 s72M o_55%0-54%$16.5M
6,77%lr0s.6Hlr2.5fri 5'80%
4-3tr4 $131-4M
2.4ffi $74.1M
$7.9M
$4-6M
428%
2-5296
l8il,2ll
$30-6M
$53-7M
6ASVo
2.v%
4.11%
i3!3it
s112,6M
$2{l{l-4M
P.O. Box l3l5g2, Roseville, Minnesota 551l3 Phone: 612-618-0917 Web: mnreaporaisals.com e-mail: cgoset@comcast.net 119
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - CL.4RKE T. GOSET, PRINCIP. L
QLIALIFICMIONS
PROFESSIONAL APPRAISER QUALIFICATIONS
One who, properly qualified, estimates value. To be considered a competent appraiser or expert in the
field of real estate valuation, one should have
1. The ability to assemble and competently evaluate an adequate and pertinent data program;
1. The necessary background and experience, particularly with respect to the property type under
appraisement;
3. The essential personal characteristics of unquestioned integrity, sound judgment, and willingness
to work;
4. A thorough familiarity with the stimuli motivating market reaction; and,
5. A thorough familiarity with techniques and methods of presentations.
P.O. Box 131592, Roseville, Minnesota 551 13 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net 120
MINNESOTA REAL ESTATE APPRAISAL SERVICES, LLC - C'L.4RKE T. GOSET, PRINCIPAL
CLARKE T GOSET
CLARKE T. GOSET, REAL ESTATE APPRAISER
Licensed as a Certified General Real Property appraiser, all types of real estate, state license
#4002042
Independent Real Estate Appraiser in Twin City Metropolitan market area since 1983, portfolio of
over 10,000 fee appraisals
Client list of more than 300 local lenders, attorneys and relocation companies
Served as Chief Appraiser with Knutson Mortgage Corporation
Extensive review appraisal experience
Completion of over 1,000 hours of specific appraisal course work and real estate education including
completion and passing examinations for Society courses 101,102, Appraisal Institute's principles of
capitalization (formerly known as Cap A and Cap B)
Certified by local Housing and Urban Development office
Certified as expert Real Estate appraisal witness in Hennepin County, state and federal court work
Approved as Real Estate Instructor by Minnesota Department of Commerce, Lectured on appraisal
valuation in numerous venues
Endorse and comply with USPAP Professional Standards of Appraisal Institute and all governmentall
appraisal Foundation standards
Five years of corporate experience with American Hoist & Derrick
Sold over 200 properties as a Realtor in Minneapolis area from 1978 to 1985 earning CRS designation
Member of numerous real estate board work groups and qommittees
Member of Greater Minneapolis Board of Realtors since 1978
Graduate of University of Hawaii's School of Business
Honorable discharge from US Army
P.O. Box 131592, Roseville, Minnesota 551 l3 Phone: 612-618-0917 Web: mnreappraisals.com e-mail: cgoset@comcast.net l2l
Grant Information - Potentials for 1407 Larpenteur
ACOUISITION AND DEVELOPMENT. DEED Demolition Loan Program - Will pay up to 100% of the acquisition AND demolition
costs for a qualiffing site (cannot only pay 100% for acquisition); for acquisition, will only pay
up to appraised value.
o No match; 2Vo interest for maximum of l5 years (prefer shorter term); first two years are
interest
?iiJ#[T:[tl."urc after the demolirion, up to 50% of the remaining principle
and interest could be forgiven based on development benefits
o Costs incurred before loan agreement is fully executed are not eligible.
o Next deadline: August I by 4 PM
DEED Redevelopment Grant Program - To assist with costs of development specific to sites
that have been built on before. Should increasejobs andlor tax revenue; affordable housing.
o Eligible costs: Demolition, acquisition (as part of our match), interior abatement
(asbestos, lead, etc), public infrastructure improvements (on site only - water, sewer,
storm, etc), environmental infrastructure (not environmental clean up - specific to things
like stormwater ponding or system), geotechnical site correction (ex - if bad fill was used
previously)
o Costs are eligible for reimbursement after the contract is signed, however costs incurred
in the 12 months prior to the contract are eligible as part of our match
o 50Vo match from any source (by dollar, not in-kind)
o Should apply for the program only when we are ready to begin development, not just
demolition. We have five years to complete the project and substantially see the
job/taxlhousing/public improvements, or we pay back the grant.
o Next deadline:August 1 by 4 PM
a
a Ramsey County Housing Development Solicitation - One application; we do not decide on the
grant program. RC Community and Economic Development staff evaluates proposals and match
eligible applicants with most appropriate available funding source. This is information from
2025 - updated information should be coming out in the next few weeks.
o HRA Levy - Eligible uses of funds: construction, acquisition, rehabilitation, and
preservation of permanent general occupancy rental housing for low-to-moderate income
households, including permanent supportive housing. Uses also include new construction
and the acquisition and rehabilitation of owner-occupied housing. Applications requesting
funds for acquisition much also include eligible rehabilitation costs. Units must remain
affordable for at least 30 years and funds may be structured as a loan.
o HOME Funds - May only be used for owner-occupied acquisition or rehabilitation of
single-family homes. Units must remain affordable for at least 20 years and funds may be
structured as a loan.o State Affordable Housing Aid (SAHA) - Eligible users include the new construction, or
the acquisition and rehabilitation of owner-occupied housing. Ivlore inlb in state statute.
Must remain affordable for 20 years and funds may be structured as a loan.
o PRO Housing - Pathways to Reducing Obstacles (PRO) to Housing - Federal funds;
eligible uses include new construction and acquisition/rehabilitation of permanent general
occupancy rental housing for low-to-moderate income renters, including supportive
housing. Application must include at least l0oZ of units must be income-restricted and
rent-restricted to residents making 30% of AMI. More infb here
263
I (From link - pg l7 of 80) - ii. Development activities. Examples include: A.
Financing the construction or rehabilitation of affordable housing B. Acquisition
or disposition of land or real property for the development of affordable housing
C. Facilitating the conversion of commercial or other properties to new housing
D. Establishing or assisting a community development financial institution
(CDFD to carry out financing strategies E. Providing large-scale technical
assistance to affordable or non-profit developers, community land trusts, or other
entities which leads to the development of affordable housing
MetCouncil - 2026 Livable Communities Grant Programs - one application per project
per round
o Development projects: must meet at least one outcome (build housing that is 100%
affordable OR the income of residents in all units in the project averages to an
affordability band needed in the city; create new affordable homeownership
opportunities for households earning 80% AMI or less; rehab or preserve existing
homes affordable to households living at 60Yo AMI or below for rental projects or
80% AMI or below for ownership projects). Housing projects must remain affordable for at least 15 years, accepting
housing choice vouchers and offer some rents that are not more than voucher
payment standards; homebuyers must complete homebuyer education before
purchase
o February 2026 -Notice of FundingAvailability Published; April 15, applications due
BROWNFIELD CLEANUPr MetCouncil - 2026 Livable Communities, Environmental Site Investigation & Cleanup
- Eligible cleanup activities: contaminated soil remediation, groundwater remediation, soil
vapor mitigation, hazardous building materials abatement or mitigation (asbestos andlor lead-
based paint only), environmental oversight
MPCA Brownfield Program - Fee-for-service program that provides technical assistance
and issues liability-assurance letters to promote the investigation, cleanup, and redevelopment
of property that is contaminated with petroleum and hazardous substances.
Ramsey County Environmental Response Fund - Offset the cost of environmental
assessment and cleanup of contaminated sites. Timing coincides with contamination cleanup
grant programs admiriistered by DEED and MetCouncil to maximize collaboration among the
three funders.
a
a
264
mf flLT Fl?'io"on*" T I o N
520 LafayetteRoad North I St. Paul, Minnesota 55155-4194 | 651-296-6300
800-657-3864 | Useyourpreferredrelayservicel info.pca@state.mn.us I EqualOpportunityEmployer
November 19,2024
VIA EMAIL
Leang Sarin
Sarin Homes LLC
1693 Ridgewood Ln N
Roseville, MN 551L3
RE No Association Determination
Get Pressed, L407 LarpenteurAve W, Falcon Heights
MPCA Site lD: 8F0002585
Billing lD:22763
PlNs: 152923340061 and 152923340062
Dear Leang Sarin
This letter is in response to the request from Rob Blakely of Bay West for a determination under Minn,
Stat. section 115B.178 that certain actions proposed to be taken by Sarin Homes LLC at the Get Pressed
site, located at the address referenced above (the Site), will not constitute conduct associating Sarin
Homes LLC with the release or threatened release of hazardous substances, pollutants, or contaminants
at the Site for the purpose of Minn. Stat. section 1158.03, subd. 3(a)( ).
The Minnesota Pollution Control Agency (MPCA) staff in the Voluntary lnvestigation and Cleanup (VlC)
Program has reviewed the documents submitted for the Site. The 0.SO-acre Site consists of two parcels
that have been developed since at least 1940. The Site was originally developed as a gasoline station. ln
approximately 1969, the Site building was converted into a dry cleaner. Dry cleaning operations stopped
in 2017, and the Site has since been vacant. Sarin Homes LLC intends to redevelop the Site with two
slab-on-grade residential townhome buildings and associated infrastructure.
Limited environmental investigations were completed at the Site in February 2024 and August 2024.
Thirty-eight soil samples were collected from 20 soil borings and analyzed for different combinations of
analytes. ln total, 34 soil samples were analyzed for volatile organic compounds (VOCs), lead, diesel
range organics (DRO), and gasoline range organics (GRO), and four soil samples were analyzed for
polychlorinated biphenyls (PCBs). Tetrachloroethene (PCE) and trichloroethene (TCE) were detected in
soil at concentrations greater than their respective soil leaching value (SLV). Lead was detected in one
soil sample at a concentration greater than its residential soil reference value (SRV). Groundwater was
not encountered during the investigation,
During soilvapor sampling in April 2024, a previously unknown underground storage tank (UST) on
the north side of the Site building was punctured and subsequently excavated. Soil screening and
confirmation samples from the base and sidewalls of the UST excavation area did not detect
significant petroleum contaminated soil; however, PCE contaminated soilwas detected at
concentrations greater than its SLV.
t-rem-vic2-09 ' LB 1528 . 6/28/24 265
Leang Sarin
Page 2
November L9,2024
Three sub-slab soil vapor samples and seven exterior soil vapor samples were collected at the Site in
February 2024 (heating season) and April 2024 (non-heating season) and analyzed for VOCs.
Tetrachloroethene and TCE were deiected in sub-slab soil vapor and soil vapor at concentrations greater
than the MPCA vapor mitigation action level of 33-times (33X) their resp'ective residential intrusion
screening values (lSVs). A vapor mitigation system is required for the proposed buildings at the Site,
Forthe purpose of this letter, the identified release consists of PCE and lead in soil and PCE, TCE, and
other non-petroleum VOCs detected in soil vapor (ldentified Release). This letter does not address
petroleum-related contaminants. Petroleum contamination detected at the Site is under the oversight
of the MPCA's Petroleum Brownfield Program.
Based upon a review of the information provided to the MPCA VIC Program, and subject to the
conditions set forth in this letter, a determination is hereby made pursuant to Minn. Stat.
section 'J.158.I78, subd. l that the proposed actions (Proposed Actions) listed below will not associate
Sarin Homes LLC with the ldentified Release for the purpose of Minn. Stat. section 1158.03, subd.
3(aXa). This determination applies only to the following Proposed Actions:
r Demolition of the existing Site building, subject to proper abatement of hazardous building
materials
. lmplementation of environmental response actions at the Site, in accordance with an MPCA-
approved Response Action Plan/Construction Contingency Plan
r Redevelopment of the Site with two slab-on-grade townhome buildings and related
infrastructure, in accordance with an MPCA-approved Response Action Plan/Construction
Contingency Plan
o Leasing the Site to residential tenants. Operation and maintenance of the Site building, grounds, and related infrastructure
This determination is made in accordance with Minn. Stat. section Ll5B.t78, subd. 1, and is subject to
the following conditions:
1. The Proposed Actions shall be carried out as described herein.
2. Sarin Homes LLC shall cooperate with the MPCA, its employees, contractors, and others acting
at the MPCA's direction, in the event that the MPCA takes, or directs others to take, response
actions at the Site to address the ldentified Release or any other as yet unidentified release or
threatened release of a hazardous substance, pollutant, or contaminant, including, but not
limited to, granting access to the Site so that response actions can be taken.
3. Sarin Homes LLC shall avoid actions that contribute to the ldentified Release or that interfere
with response actions required under any MPCA-approved response action plan to address the
ldentified Release.
4. ln the event that any suspected hazardous substances are encountered during Site activities
(i.e., demolition, grading, redevelopment, etc.), Sarin Homes LLC shall notify the MPCA project
staff immediately in order to determine appropriate handling, sampling, analysis, and disposal
of such wastes.
266
Leang Sarin
Page 3
November L9,2024
Pursuant to Minn. Stat. section 115B.L78, subd.1, when Sarin Homes LLC takes the Proposed Actions in
accordance with the determination in this letter, subject to the conditions stated herein, the Proposed
Actions will not associate Sarin Homes LLC with the ldentified Release for the purpose of Minn. Stat.
section 1158.03, subd. 3(aXa).
The determination made in this letter applies to Sarin Homes LLC's successors and assigns if the
successors and assigns: 1)are not otherwise responsible forthe ldentified Release at the Site;2)do not
engage in activities with respect to the ldentified Release which are substantially different from the
activities which Sarin Homes LLC proposes to take, as described herein; and 3) comply with the
conditions set forth in this letter.
Please be advised that the determination made in this letter is subject to the disclaimers found in
Attachment A and is contingent on compliance with the terms and conditions set forth herein.
lf you have any questions about the contents of this letter, please contact Shanna Schmitt,
Hydrologist/Project Manager, at 657-757-2697 or by email at shanha.schmitt@state.mn.us.
Sincerely,
A"-f^ K. k^il;o*a
This document has been electronicolly signed.
Amy K. Hadiaris, P.G.
Supervisor
Voluntary lnvestigation and Cleanup Unit
Remediation Division
AKH/SS:df
Attachment
cc Hannah Lynch, City of Falcon Heights (electronic) (w/attachment)
Ahmet Baysal, Ramsey County Environmental Health Services (electronic) (w/attachment)
Rob Blakely, Bay West (electronic) (w/attachment)
267
268
Attachment A
Disclaimers
Get Pressed
MPCA Site lD: 8F0002585
1. Reservation of authorities
The Minnesota Pollution Control Agency (MPCA) Commissioner reserves the authority to take any
appropriate actions with respect to any release, threatened release, or other conditions at the Site.
The MPCA Commissioner also reserves the authority to take such actions if the voluntary party does
not proceed in the manner described in this letter or if actions taken or omitted by the voluntary
party with respect to the Site contribute to any release or threatened release or create an imminent
and substantial danger to public health and welfare.
2. No MPCA assumption of liability
The MPCA, its Commissioner, and staff do not assume any liability for any release, threatened
release, or other conditions at the Site or for any actions taken or omitted by the voluntary party
with regard to the release, threatened release, or other conditions at the Site, whether the actions
taken or omitted are in accordance with this letter or otherwise.
3. Letter based on current information
All statements, conclusions, and representations in this letter are based upon information known to
the MPCA Commissioner and staff at the time this letter was issued. The MPCA Commissioner and
staff reserve the authority to modify or rescind any such statement, conclusion, or representation
and to take any appropriate action under the Commissioner's authority if the MPCA Commissioner
or staff acquires information after issuance of this letter that provides a basis for such modification
or action.
4. Disclaimer regarding use or development of the property
The MPCA, its Commissioner, and staff do not warrant that the Site is suitable or appropriate for any
particular use.
5. Disclaimer regarding investigative or response action at the property
Nothing in this letter is intended to authorize any response action under Minn. Stat.
section II5B.L7, subd, 12.
6. This approval does not supplant any applicable state or localstormwater permits, ordinances, or
other regulatory documents.
Page L of 1 269