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BOARD OF REVIEW MINUTES May 9, 2016 <br />APPROVED <br />46 Mayor Reinert concurred. This is the first time the council and staff have heard the McNamara's <br />47 concern and so he would like to allow time for county staff to look at the numbers. The meeting will <br />48 be continued to May 23, 5*30 p.m. to allow for further review by the board. He recognized that they <br />49 are speaking about four buildings owned by Lino Lakes Business Center LLC but the McNamaras do <br />50 actually own one other property as M&M Financial Company. <br />51 <br />52 Mr. McNamara added that these buildings are block construction and that is less valuable than <br />53 concrete. <br />54 <br />55 The Board was informed of another appellant present. Patrick Fogerty, an officer for F&G Inc. as <br />56 well as Lino Lakes Business Center Phase 1 LTG, owners of three buildings at question. They are <br />57 also part owner of the four buildings addressed by the McNamaras. He provided some information <br />58 on the increase he is facing. He did his math per square foot, showing an increase from 2016 to 2017 <br />59 from $1.77 to $2.16 per square foot with no improvements or changes in occupancy or rent. On the <br />60 property at 479 there is an increase of $190,000. He noted that he already took a big hit on that <br />61 building this year with a bad tenant who cost them $35,000 and caused a vacancy. Other units he <br />62 noted aren't premium units but are being charged premium rates. <br />63 <br />64 Mayor Reinert noted that the purpose of these meetings is to discuss such concerns. He asked that <br />65 the assessor report on Mr. Fogerty's situation as well. <br />66 <br />67 Motion by Maher to continue the meeting to a time prior to the deadline for city consideration and <br />68 when Anoka County has been able to gather more information (determined to be May 23). Council <br />69 Member Kusterman seconded the motion. Motion adopted on a voice vote. <br />70 <br />71 <br />A map of the properties was requested by the council. <br />72 <br />73 These minutes were considered and approved at the <br />74 <br />75 <br />76 u 1 e Bartell, City lerk <br />2 <br />