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April 13, 2009 <br />Lino Lakes Board of Egiiali7ation <br />Dear Board, <br />The purpose of this letter is to request estimated market values to be reduced <br />on the following parcels: <br />PIN Estimated MarketVaule <br />04- 31 -22 -42 -0001 70 acres $764,900 <br />West of West Rondeau lake Dr. <br />04- 31 -22 -44 -0001 30 acres $230,900 <br />North of Main St. <br />04- 31 -22 -44 -0002 7.5 acres 7.5 $ 52,300 <br />NW of Old City Hall Park. <br />Totals 107.5 $1,048,100 <br />These parcels have been farmed since 1916; 92 years by our family. <br />The fanning use is likely to continue given the City Proposed Land Use Plan <br />designating the area as "Urban Reserve" until 2030. This designation <br />effectively eliminates any investment value for near term development. <br />Therefore values should be established on the basis of fanning potential and <br />Agricultural income. 65 tillable acres of this land can be leased at a rate of <br />$45.00 per acre per year. Annual lease income $2,925.00. <br />The remaining acres are marginal as pasture. <br />A revised market value closer or equal to the "GreenAcres" value is merited. <br />The uncertainty of further changes to "Green Acres" Legislation adds urgency to this request. <br />In a phone call 4/10/09 the city assessor agreed to review for proper ratio of tillable and <br />submarginal classification of these parcels and four others including: 04- 31 -22 -31 -0004, <br />04- 31 -22 -34 -0001, 04- 31 -22 -31 -0003, 04- 31- 22 -43- 0002. <br />Jeff and Mary Joyer <br />8174 Lake Drive, Lino Lakes MN. 55014 <br />