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HERMAN APPRAISAL SER¥ICES <br />REAL ESTATE APPRAISALS <br />4332 DUPONT AVENUE SOUTH <br />MINNEAPOLIS, MINNESOTA 55409 <br />612-1~25.1969 <br /> Fa~ 612-824-2107 <br /> <br />October 2, 1995 <br /> <br />Mr. Ryart Schroeder <br />City Administrator <br />City of Rarr~ y <br />15153 Now~hen Boulevard NW <br />Ramsey, MN 55303 <br /> <br />Dear Mr. Schroeder, <br /> <br />Preliminary valuation analyses <br />Before and after proposed public improvements <br />Croteau, Haubrich, Olson/Schmidt properties <br />Haubrich Addition <br />151st Lane NW <br />Ramsey, lvlN <br /> <br />At your reqt~est, I have reviewed the city's proposed public improvement project on 151st <br />Lane NV~r ir~ the Haubrich Addition to Ramsey, to ascertain how this project might affect <br />the market v~ue of the six properties that curr~tly comprise this subdivision. <br /> <br />The Haubriah Addition is currently platted into six lots that are all at least 2 acres in size. <br />Five of the kix lots are improved with single family homes. Lot 3, Block I, Haubrich <br />Addition ha~ an older residence that is owned and occupied by John and Marilyn Haubrich. <br />The Haubricbs originally owned the contiguous land that comprises the Haubrich Addition. <br />In 1990 the~ subdivided their ownership into the Haubrich plat, retained ownership to Lot <br />3, Block 1 ~hich contained their house, and sold the other five land parcels that comprise <br />the Haubriel~ Addition to individuals who have subsequently constructed new single family <br />residences oh four of the lots. The fifth lot (Lot 2, Block l) remains vacant, however, it <br />was purchasgd as an investment, by Edwin and Natalie Juskiewicz, the buyers of Lot 1, <br />Block 2. Th~ Suskiewiczs constructed their residence on Lot 1, Block 2. The residences in <br />the Haubricl~ Addition are currently served with individual private septic and well systems <br />and accesseel by 151st Lane NWa 30 foot wide two lane bituminous roadway with <br />bituminous Curbing. The five 2+ acre lots in the Haubrich Addition sold for between <br />$25,000 andl$30,000 per lot shortly after they were offered for sale in the early 1990's. <br /> <br />The propose~i public improvements will extend city sewer and water trunk laterals along <br />151st Lane ~ past the Haubrich Addition's six existing lots. The city will stub a total of <br />22 service laterals into the six lots that will service the existing residences and allow for the <br />future subdi:gision of the six existing lots into a total of 16 additional single family <br />residential lc~ts. The possible future lots are configured so as to ensure compliance with <br />current zoniag guidelines for minimum lot sizes, widths, side yard setbacks, and other <br />regulations, as well as to accommodate the existing residences. A diagram depicting the <br />possible sub~,ivision of Haubrich Addition into a total of 22 lots (5 of which are developed <br />with existing~residences) is attached to this letter. <br /> <br />In addition to providing sewer and water service to existing and future lots within the <br />Haubrich Addition, the proposed project will also construct two storm water collection <br />basins that ~a~ill divert storm water to existing drainage/utility easements situated across <br />small portions of Lots I and 2, Block 1. The street surface of 151st Lane NW will be <br />reconstructed with bituminous paving and surmountable concrete curb and gutter will <br />_r.e_p_l.a.c.e.:.the 6xisting .bitumi.n.ous berm curb. All disturbed areas will be r~stamd with <br /> <br /> <br />