CC BOARD OF REVIEW MINUTES 04281987

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C=TY O F S T . ANTHONY BOARD OF REV 2 EW M I NUTE S APR 2 L 2 8 � 1 9 8 7 Continuation of the annual Board of Review by the City Council was called to order at 7 : 30 P.M. by Mayor Sundland. Present: Sundland, Marks, Enrooth, Makowske. Absent: Ranallo. Also present: David Childs, City Manager Tom Holmes, Hennepin County Assessors Office William Soth, City Attorney APRIL 14, 1987 BOARD OF REVIEW MINUTES Motion by Marks, seconded by Enrooth to approve the above after insertion of "Sundland" in the listing of those present on page 1 . Motion carried unanimously. LOWER ASSESSED VALUATIONS ACCEPTED FOR 10 NORTHGATE OFFICE CONDOMINIUMS • Mr. Holmes distributed a listing of the units in the officeP ark which indicated the valuations on 10 of the 18 units had been revised by 5% for 1987 . He apologized for the County' s posting error which had resulted in Tim Tromiczak' s and seven other condominium owners ' properties being valued at $81,300, where their valuations for 1987 should only have been for $77,500 . The Assessor asked the Council sitting as the Board of Review to make the value adjustments for all 10 units as indicated on the listing. In reference to unit #16 owned by Mr. Tromiczak for which the Council had ordered a reevaluation at the April 14th meeting, Mr. Holmes said the County had to take the condo owner' s word that the original owner, Mr. Volkman, had sold that unit to him in November, 1985, for $75, 900. He said the County had no record of either a sales disclosure or certificate of real estate for that sale with the only record on the property being Mr. Volkman' s purchase of the property in August, 1984, for $85,000 . In any event, he said it would take more than one sale and a pattern of, several sales of this or comparable properties in the $60 ,000 range to convince the assessors to reduce the Northgate condominiums' valuations to the levels Mr. Tromiczak has said realtors have indicated the properties would sell for. And, Mr. Holmes pointed to the listing as an indication that all sales • activities in the office park to date had .been upward rather than on a downtrend.