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LYLE H . nIAGELL & CO. , INC. ✓�'Pprafsers • Phone:(612)Stt-8966 7515 WAYZATA BOULEVARD,SUITE 8 115 1 Fax:(612)544-8969 MINNEAPOLIS.MINNESOTA 55428 PRELIMINARY OPINION OF VALUE 1 _ February 24, 1993 City of St. Anthony Village Attention: Thomas Burt 3301 Silver Lake Road St. Anthony , MN 55418-1699 RE: Preliminary opinion of market value contribution to adjoining properties from the proposed street reconstruction and overlay improvements in St. Anthony, Dear Mr. Burt: In accordance with your request, I have undertaken and completed a preliminary study of market value contribution to adjoinging properties from the above proposed street improvements. It is based on the date of the inspection, February 24, 1993. It should be clearly understood that an appraisal has not been made and that this letter does not constitute an "appraisal report". The following study consisted of a drive-by inspection of the above referenced streets and properties along them, and information collected from public records. The purpose of the study was to'form a preliminary opinion of market value contribution range, regarding the proposed street improvements to the adjoining properties. Should a formal appraisal be conducted, it is possible the value estimate could fall outside the range reported herein. Description Of The Proposed Street Improvements: All of the streets are located in City of St. Anthony. Due to aging and wear the streets listed below are to be reconstructed or receive overlay. Reconstruction streets are to have new, base, bituminous surface, water main, concrete curb and gutter. The storm sewer will be repaired as needed. The pre_ liminary estimated cost is $9,007 per average lot (per city). 1) Penrod Lane from 36th Avenue to 37th Avenue. 2) 31st Avenue from Rankin Road to Old Highway 8. 3) Croft Drive from Rankin Road to 31st Avenue. 4) Rankin Road from 31st Avenue to Townview.