02-13-1991 Council Agenda - Laserfiche WebLink

Home Browse Search

Mr. Joel Hanson, Administrator City of Little Canada November 23, 1990 Page 3 LINEAL FRONT FOOTAGE FACTOR Little Canada utilities are located on or along County Road B to the north of this property. Accordingly, I have used the cast/west lineal front footage (approximately 1,040 lineal feet) for my computations. This is the same side (i.e. County Road B) as was used for the Cub Food connection charge. FO1 TVAT,FNT SAC IJNIT FACTOR According to the developer, MWCC and/or the City of Maplewood have assigned a total of 152 SAC units to the existing plan in- process development. I have estimated/guessed that an additional 30 SAC units will be assigned for the additional phases of planned development FAIR MARKET VALUE FACTOR The fair market value factor represents the single largest portion of the connection charge. Unfortunately, this factor is the least definitive. Accordingly, I have had to make certain assumptions. The following data summarizes the assumptions and /or methodology which were agreed to by the City and Schroeder Milk Co. on November 20, 1990. 1. J. and Valuer An unrelated appraisal report dated March 15, 1984 was prepared for determining the Cub Food connection charge. That report valued the Cub Food parcel (land only) at $738,000 or $1.30 /square feet. Assuming an annual inflation factor of 2% per year; the $1.30 /square foot would equate to approximately $1.50 /square foot today. This factor /value was agreed to at our November 20, 1990 meeting with Schroeder Milk Co. Accordingly, I have used a factor of $1.50 /square foot in computing the attached Connection Charge. Please note that I have included parcels one and two only in computing this Connection Charge. See previous data under Land Information. Should parcels three and/or four ever be developed; an additional Connection Charge would have to be computed. Page 44