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As demonstrated by the preceding table, all of the properties in the redevelopment area exceed the 15% threshold for replace- <br />ment cost which is the criteria for determination of being classified "structurally substandard ". <br />The valuations used are based on Building Valuation Data dated May 1999, as supplied by the State of Minnesota Department <br />of Administration. Repair costs are based on information from R. S. Means publications, consultations with various trade pro- <br />fessionals, and my personal experience of 26 years in the construction, real estate, and inspection fields. <br />If you have any questions regarding this report, please feel free to contact me. <br />Respecjr submitted, <br />Gregory & Skk(mit, CBO <br />Page 29 <br />