2021.04.05 CC Minutes - Laserfiche WebLink

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Hugo City Council Meeting Minutes for April 5, 2021 Page 2 of 12 new construction. The number of townhome sales had doubled since last year. He reviewed the impact of "lender mediated" sales such as foreclosures, short sales, and bank owned sales saying there were 54 countywide sales and only two in Hugo. Squyres explained how they use time adjusted sales prices and the steps they use to reach target values. He talked about homes sales saying they were significantly up. More houses were selling but supply was down by almost 40% indicating there are more buyers on the market than sellers, which leads to quickly increasing prices. It was anticipated this trend would continue. He explained it was hard to determine the average value increase of homes because situations differ, but the overall trend was up 1-10%, with less than 200 homes Countywide that decreased. The median value of a home in Hugo this year was $309,000, slightly lower than the County value of nearly $317,000. The median value in Hugo last year was $290,000. He talked about apartments and commercial properties saying the number of sales was holding steady. Commercial was up 5.92% in Hugo, and the County was up 8.4%. He noted that the office market values held steady and industrial values were very strong, but retail was hit hard. Countywide, apartment adjustments were up, and rental rates were fairly strong. There was a reduction in agriculture adjustments countywide, but Hugo increased. He pointed out that Hugo was in the northern tillable section where values were up between $288-5,260 per acre. He stated they were currently in the appeals period, and he expected fewer appeals this year than last year. Approval of Consent Agenda Weidt made motion, Petryk seconded, to approve the following consent agenda: 1. Approve Claims Roster 2. Approve Grant Agreement with BWSR for CSAH 8 Stormwater Reuse Project 3. Approve Resolution Restricting Parking Along Portions of 147th Street 4. Approve Resolution to Rescind the Local Emergency 5. Approve Resolutions Approving Variance and CUP Amendment for Xcel Energy - 13620 Fenway Boulevard North 6. Approve Property Line Adjustment on 9604 170th Street North — Scott Johnson 7. Approve Resolution Approving the Encroachment Agreement for Octavio Chung Bustamante and Mary Chung - 4958 142nd Circle North 8. Approve Public Works Summer Seasonal Employees 9. Approve Resolution Adopting Water and Sewer Pro -Forma Financial Guide for 2021 10. Approve Purchase of Easement on Atkinson Property — 147th Street 11. Approve Reduction in Cash Escrow for Hugo Gardens 12. Approve Pay Voucher No. 3 from Scandia Trucking, LLC for JD2 Ditch Maintenance 13. Approve Pay Voucher No. 6 from Ebert Construction for New Public Works Facility 14. Approve Pay Voucher No. 14 from CB&I, LLC, for Water Tower No. 4 Roll call vote — all ayes. Motion carried.