Agenda - Council - 03/28/1995 - Laserfiche WebLink

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City of Ramsey 15153 NOW'I'HEN BOULEVARD N.W., RAMSEY, MINNESOTA 55303 PHONE (612) 427-1410 FAX (612) 427-5543 TDD (612) 427-8591 Ellen B. Herman Herman Appraisal Services 4332 Dupont Avenue South Minn~po~, M. innesota 55409 Dear'Ellen; The City Council has directed me to reeeive a quot~ for appraisal services on property currently owned by the City of Ramsey. This property is located on the southwest q,~,:d,'ant of Trunk Highway g47 and 142nd Avenue N.W. It is actually two separate parcels. I have enclosed what information I cune~tly have on the property, as well as the vacant six-acre parcel immediatelY to the south. Both are commercial parcels with good acce. gs. Following is the information pertinent to this request. You should note that the eventual appraisal is not a simple request for value, but a value based on different sc.~nafios. '~ I. Currently, the City's maintenance buildings are located he, r~ but they are proposed to be removed. Any appraisal should a.~um all buildings or appurtenances relative to this use are removed. 2. -A one-xoom school hous~ will remain on the property. In its current condition, it is not habitable..We need 'to know ff thisbuilding "as is" is an attribute or detriment on this property. We have proposed putting $50,000 in mechanical 'and st3uctural.upgtades into the building (see attached grant applibation). We need to know if these upgrades, wi{ich will not include any nece.ssay "tenant improvements", ~ recoverable in inerease4I, propert~ value. 3. If this~uilding (schoolhouse) was totally removed from the site, what would the value of the property be? 4. It should be noted and considered that this property will likely lose som~ o£its utility with the improvement of Trunk HighWay g47, due to be completed by 1996 or 1997. You will note that the frontage will likely shrink on beth Trunk Highway g47 and 142nd Avenue N.W. ; . 5. Finally, I believe that in the 1980's and early 1990's, commercial values were i'relafively flat". Further, that this perhaps is changing. Therefore, while we am looking for valuation on the above parameters in 1995, we need an opinion regarding any likely changes five yeaas from now. Please ~ if you have questions regarding the above. At this point, I am looking for'a quote to conduct a letter appraisal for the above scenarios. Thank you for your assistance. $incerely,~ Ryan R. Sghroeder City Administrator RRS:ccr ~ cc: Mayor an~l City Council I I I I I I I I I I I I I I I I !