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MINUTES <br />CITY COUNCIL <br />MAY 26, 1993 <br />property, he had to lower his asking price to below the <br />State appraisal. Malsam reported that his property has <br />been assessed twice for Country Drive, and the value is <br />simply not there to support the assessment. <br />Scalze asked if the City was ever given a copy of <br />Malsam's appraisal. <br />Malsam was not sure, but reported that the property was <br />assessed at $94,900 at a residential value and he had <br />to sell the property for less. <br />Scalze felt that it was fair to assess the property at <br />the commercial rate, pointing out that it is zoned <br />commercial, and this appears the only way to handle <br />such situations and be consistent throughout the City. <br />Malsam reported that it is difficult to get any <br />commercial value from the property given its size. <br />Malsam reported that he realizes the property is zoned <br />commercial, but pointed out that he has not gained any <br />benefit from that zoning. Malsam also reported that he <br />has gained nothing from the improvement of Country <br />Drive, and pointed out that he is not even connected to <br />City water. Malsam reported that he would have no <br />problem paying the residential rate of the assessment. <br />Pedersen asked Malsam what the property was zoned when <br />he purchased it. <br />Malsam replied that the property was zoned B-3. <br />Morelan indicated that if everything worked the way it <br />should have, the property would have realized an <br />increase in its value equal to that of the assessment. <br />Morelan felt that it may be the current economic <br />conditions that are causing problems for Malsam rather <br />than the assessment for Country Drive. <br />The City Attorney reported that should the Council <br />choose to reconsider the Country Drive assessment, <br />under Statute 429 the City would be required to hold a <br />supplemental assessment hearing for the property. <br />Malsam pointed out that he had the property sold once <br />before about a year ago, however, the sale was never <br />finalized. Malsam felt that he had to discount the <br />property given the PUD situation, and pointed out that <br />it is difficult to attract a commercial business to the <br />site given its size. <br />Mrs. Scalze introduced the following resolution and <br />moved its adoption: <br />Page 15 <br />