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<br />HIGHEST AND BEST USE <br /> <br />The purpose of discussing the high~t and best use of the property, as vacant and as improved, is to <br />identitY the uSe that creates the greatest valueofthe property. In order to determine the use providing the <br />greatest value, the. foHowing four criteria must be met. The use must be (l) legallY permissible, (2) <br />physically possible, (3) financially feasible, and (4) maximally productive. These criteria are usually <br />considered sequentially, since it is irrelevant if a use is fmancially feasible when it might be legally <br />prohibited or physically impossible to construct. Only when there is a reasonable ppssibility that an <br />unacceptable condition can be changed is it appropriate to proceed with the analysis without meeting the <br />prior criteria. For example, if the current zoning does not accommodate a likely candidate for highest <br />and best use, put there isa possibility the zoning can be changed, the proposed use could be considered <br />on that basis. <br /> <br />1. Legally Permissible <br />The .subject parcel is cUrrently zoned H-I, Highway 10 Business District. This zoning allows 11 variety of <br />commercial uses that. are ina state of "transition," with future redevelopment for the. reconstruction of the <br />U.S, Highway #1 () Transportation System.l <br /> <br />2. Physically Pl)ssible <br /> <br />The physical characteristics of the subject property pose the second constraint on its possible uses. The <br />subject's size, shape and topography are important elements to the site and impact its overall utility. The <br />topography of the site is generally level high-ground with a front elevation similar to the existing grade of <br />the highway. The north half (rear) of the site has a slightly lower elevation than tbe south (front) portion <br />of the site; this elevation is gradual and does not impact the ability ofthe parcel to be re-developed. <br />Additionally, the rear of the site has a low-to-moderate amount of treelbrushcoverage; the remaining site <br />is free of tree coverage or other visual impediments to utilizing the site. Therefore, physically the parcel <br />can serve a variety of commercial uses. <br /> <br />3. Financially Feasible <br /> <br />From a financial prospective, the greatest use of the subject is to be redeveloped (improvements <br />removed) and utilized as a large commercial lot to be improved with a structure to rent space on the open <br />market, or owner-occupied to operate an income producing business entity. <br /> <br />4. Maximally Productive <br />The most productive use of the subjectparcel, as vacant, is to be developed and improved to functional <br />as a commercial property with good vlsibilltyand accessibility to U.S. Highway #10. <br /> <br />Conclusion of Highest and Best Use <br /> <br />As Vacant: Of the uses described above which meet the tests of being physically possible, legally <br />permissible, financially feasible, and maximally productive, it is my opinion the Highest and Best Use of <br />th.e subject parcel is to be redeveloped (current improvements removed) and improved to functional as a <br />commercial property with good visibility and accessibility to U.S. Highway #10. However, this site is <br />classified as being in a state of transition and in all likelihood will have to be acquired in the future to re- <br />develop the U.S. Highway #10 Transportation System. <br /> <br />1 Further information and details from the City of Ramsey Planning & Zoning Department's Zoning Code for B-1 <br />Highway Business District (9.20.27) included later in this report. <br /> <br />Page - 17 <br />