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ok \ittle Cdndgd COMMUNITY PRIDE 1953 - 9003 515 Linde Canada Road, Litrle Canada, MN 55117 -1600 (651) 766 -1029 / FAX: (651) 766 -1018 mwwci.litde- canada.mn.us July 9, 2003 City of Little Canada Mr. Joel Hanson, City Administrator 515 E. Little Canada Road Little Canada, MN 55117 RE: 3203 Country Drive (Formerly Knox Lumber) PIN# 31- 30 -22 -34 -0005 Dear Mr. Hanson: MAYOR Michael. 1. Fahey COt `\CiL Jim LaValle \fact Anderson Rick .contour Bill 13lcsener AD1111 XISTR-ITOR Joel R. Hanson Purpose — The purpose of this report is to determine whether the qualification tests for tax increment eligibility, as required by Minnesota Statute for a Renewal & Redevelopment District Tax Increment could be met. Scope of Work — The site, 647,009 square feet or 14.85 acres, contains five (5) commercial buildings and two (2) canopies, which are considered out buildings and are not included in this report. Evaluations — On July 7, 2003, petiuission was given to inspect the property and buildings formerly know as Knox Lumber. Of the five (5) buildings on site, four (4) were inspected on both the interior and exterior. One of the buildings was locked, Building A, and only inspected from the exterior. Findings — Coverage Test. The property is covered almost entirely by buildings, streets, utilities, paved or gravel parking lots, or similar structures or features. These items cover approximately 95% of the property, which exceeds the 30% area coverage requirement for inadequate street layout and obsolete buildings not suitable for improvement. Condition of Buildings Test. According to Minnesota Statute 469.174, Subdivision I0A the building is "Structurally Substandard ", if it cannot be repaired or modified to meet current building codes at a cost of less than 15 %. Since 4 out of the 5 buildings (80%) 2