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�. South Athletic Complex Site <br /> City of Lino Lakes, Minnesota <br /> HIGHEST AND BEST USE <br /> The highest and best use for a property is that use which <br /> will yield the highest present value for the property. It is <br /> that use, selected from other reasonable, probable and legal <br /> uses, that results in the highest value for the property. <br /> Criteria for determining highest and best use include: <br /> 1. The use must be legal and in compliance with zoning, <br /> building and other regulatory requirements, or logical and <br /> probable extensions of existing requirements. <br /> .2. The use must be within the realm of .probability and <br /> not merely speculative. <br /> 3. Demand for such use must exist. <br /> 4. The use must be profitable and provide the highest <br /> net return from the property for the longest possible time as <br /> compared to other likely uses. <br /> In appraisal practice, the concept of highest and best <br /> use is the premise.upon which value is based. <br /> The most obvious potential use of the subject is for <br /> development for single family residential purposes. The area <br /> just north of the subject is currently under development. The <br /> sheer number of recent building permits indicates that demand <br /> for such a product is strong. Further, the extensive <br /> development that has occurred indicates that such development <br /> is economically possible. The second, third and fourth <br /> ^ criteria set out above are clearly met by this use. Whether <br /> Page 14 <br />