Laserfiche WebLink
' ABITHE APPRAISAL BURSA U <br /> • Consulting Valuation Engineers <br /> 5955 Golden Valley Road, Suite 201 -Minneapolis, Minnesota 55422 <br /> (612) 788-8673/Faz(612) 595-7127 <br /> April 8, 1999 . <br /> Mr. Michael Mornson <br /> City Manager <br /> Village of'St. Anthony <br /> 3301 Silver Lake Road <br /> St. Anthony,Minnesota 55418 <br /> Re: Appraisal of Salvation Army Property, St. Anthony,Minnesota <br /> Dear Mr.Murnson: <br /> We submit,herewith, our proposal for the Market Value Appraisal of the above referenced property. The <br /> purpose-of the appraisal would be to estimate the most probable selling price for the property, if it were <br /> exposed for sale on the open market. Such an estimate would reflect the property in its present condition, <br /> anticipating a marketing time of one year or less. <br /> We propose to submit to you a documented appraisal which would support our estimate and detail the <br /> methods by which we arrived at that estimate. <br /> The appraisal would include the following: <br /> • L Inspection,survey and photographs of the site itself and any improvements that may have been made <br /> to it. <br /> 2. Detailed analysis of the property and its value using the applicable approaches to market value. <br /> 3. Discussion of the analyses involved and the correlation and conclusions derived from them. <br /> 4. Various exhibits pertinent to the valuation,such as plat map,zoning map,zoning code,comparable <br /> sales location map,etc. <br /> 5. The valuation of the parcel would consist of the following parts. Those parts would entail the following: <br /> A valuation of the site and improvements as they presently sit. This valuation <br /> would take the form of a study of the highest and best use of the property and <br /> an estimate of the property's most probable selling price,based upon that highest <br /> and best use. <br /> Such a valuation would include the three standard approaches to value,namely <br /> cost,income and market analysis, if its current use is determined to be its highest <br /> and best use. <br /> If the property's highest and best use is determined to be something other than its <br /> current use,that use would be valued by any,and all,methods applicable to that <br /> future use. Such a valuation would consist of a land study and a development cost <br /> analysis,or discounted cash flow as it is sometimes called. <br /> • <br />