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M/S/P DeLapp/Dunn - to approve the proposal by TKDA dated October 12, <br />2000 to provide professional services for the completion of the <br />Transportation, Water and Sewer Elements of the 2000-2020 <br />Comprehensive Plan at a cost of $15,000. (Motion passed 5-0.) <br />I. Wildflower Shores —Site Value Appraisal/Park Dedication Fee <br />The staff contracted with a Fee Appraiser to establish the pre -development <br />Market Value of the Rehbein site, for purpose of determining the Park <br />Dedication Fee payable at 7% of Market Value. Rehbein challenged the <br />appraised value of $15,000 per acre certified by the City's contract Fee <br />Appraiser, Scott Renne. Rehbein's contract appraiser argued that this <br />analysis of Comparables suggested a value of $12,000 to $13,000 per acre. <br />The discrepancy between the two appraisals is related to the weight accorded <br />to the Stillwater Investment sale of earlier this year. <br />Mr. Renee was asked to consider the comparable sales issues raised by <br />Rehbein's appraiser's report, and he agreed that use of the Stillwater <br />Investment sale numbers in his list of comparables is not reasonable. His <br />Fair Market Value for the Wildflower 56 acre site is $15,000 per acre. The <br />difference between the present two values per acre amount to $168,000 Fair <br />Market Value for the predevelopment site - $11,760 in Park Dedication Fees <br />payable by the developer are disputed by the developer. <br />Planner Dillerud did not believe that Chapter 400 provides latitude for staff <br />to adjust values certified the City contracted professional appraiser for park <br />dedication purposes. The Fair Market Value determination for the appraiser <br />shall be conclusive. The developer requested City Council review of the <br />matter. <br />M/S/P Dunn/Siedow — to postpone a decision on Fair Market Value in <br />determining the Park Dedication Fee for Wildflower Shores until staff meets <br />with appropriate parities and makes a recommendation to Council. (Motion <br />passed 4-1:DeLapp: He agreed with the City Planner and City Attorney and <br />supported the formal appraisal of $15,000 per acre.) <br />LAKE ELMO CITY COUNCIL MINUTES NOVEMBER 8, 2000 10 <br />