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N' NORTHERN WHOLESALE SUPPLY <br />04/14/98 <br />Local Board of Review <br />City of Lino Lakes <br />1189 Main Street <br />Lino Lakes, MN 55014 <br />Dear Sirs: <br />I would like to appeal the property valuation increase that was applied to PIN: R24 31 <br />22 43 0011. It is my understanding that the valuation should reflect what the market <br />value of building and property is. Should this not be equal to what some one would pay to <br />purchase a property or building under reasonable conditions? You have put that figure at <br />$3,027,400.00 even though the building was completed in January of last year at a cost of <br />about $2,400,000.00 for both land and building. I can not understand how you can value <br />this property 45% higher then the replacement cost. <br />When the building was originally built 1 provided your office with the documentation <br />for the actual building costs and it was agreed to value the building at its present amount, <br />If I need to provide further information please do not hesitate to contact me. <br />Sincerely. <br />'47:0e4/ <br />Nick Gargaro <br />6800 Otter Lake Road • Lino Lakes, MN 55038-9466 <br />(6121429.1616 • FAX: (6121 429-5757 <br />TOTAL P.02 <br />• <br />• <br />