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Apache Mall Structural Evaluation <br /> Page 2 <br /> Executive Summary <br /> The New Market Grocery building, the Sports and Health Club <br /> building, and the Mobil Service Station building are <br /> "structurally substandard" based on site observations, <br /> definition of remedial work necessary to bring the buildings <br /> back into code compliance and the cost of the remedial work. <br /> Renovation for the New Market Grocery building will cost <br /> approximately 31. 0% of new construction costs for a similar <br /> building. Renovation costs for the Sports and Health Club <br /> will be approximately 33 .7% of the replacement costs. <br /> Renovation costs for the Mobil Service Station will be <br /> approximately 22 . 0% of the cost to build a new facility of <br /> similar size and function. Three (3) of the five buildings <br /> in the main Apache Mall complex are substandard. <br /> Definition of "Structurally Substandard" <br /> The Minnesota Statute covering Tax Increment Financing has <br /> the following language: <br /> "structurally substandard shall mean containing defects <br /> in structural elements or a combination of- deficiencies <br /> in essential utilities and facilities, light and <br /> ventilation, fire protection including adequate <br /> egress, and condition of interior partitions, or <br /> similar factors, which defects or deficiencies are of <br /> sufficient total significance to justify substantial <br /> renovation or clearance. <br /> A building is not structurally substandard if it is in <br /> compliance with the building code applicable to new <br /> buildings or could be modified to satisfy the building <br /> code at a cost of less than 15 percent of the cost of <br /> constructing a new structure of the same square footage <br /> and type on the site. " <br />