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In re Cartway Petition July 9, 2012 Page 7 of 9 B. Private Improvements The total depredated current value of the private improvements that are being considered for public use is55l9.O8O25. C. Severence Damages To undertake m full appraisal nfthe before arid after vatue of each affected property owner would be quite expensive. Given the value of' the private improvements and right of way and the questionable status of whether the City or Petitioner is even willing to pay that price for the Cartway, the Association has asked Ms. VVa|kerto provide an initial valuation impact estimate on the affected properties to quantify the severance damages in this case, Ms. Walker determined that the impact on value of the properties would be approximately 5% if the private road became public, resulting in less control over the road, public use of it and the alteration of nature and character of the private development. Further, if the Petitioner were to allow public hunting or guided hunting on his (and, which is at the gateway of this devetopment, that vatuation impact would increase to approximatety 10%. The following are the currently-assessed values of the respective properties: 2155 Otter Lake Drive 5 451'300 2150 Otter Lake Drive $ 454.400 2140 Otter Lake Drive 5 455,000 2120 Otter Lake Drive 51'139.600 2100 Otter Lake Drive S 764.800 Total 55'265.100 See Exhibit 5 attached hereto and incorporated herein by reference. A five percent change in value results in a severance damage of 5163,255.00 and a ten percent change in value results in a severance damage of 5326,510.00. If the Council chooses to proceed with the taking, it must obtain an appraisal that contemplates the righ1- xAt the time the development was approved, a previous Lino Lakes City Attorney commented that the development's private road will increase the value of the residential kots See meeting minute from the Lino Lakes City Council meeting dated May 13, 1991 attached hereto as Exhibit 3 and incorporated herein by reference. 2 Petitioner is a professional hunting guide. See Exhibit 4 attached hereto and incorporated herein by reference, which is an excerpt from his business'xvebsite.