Agenda - Council - 09/14/1993 - Laserfiche WebLink

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llERMAN APPRAISAL SERVICES REAL ESTATE APPRAISALS 4322 DUPONT AVENUE SOUTH MINNEAPOLIS, MINNEgOTA 5540r) (612) $25-J969 Fax ~o12) g24-2107 RESEIVE'D J U L 2 7 Jul\' 19, 1993 Mr. Rvan Schroeder City Administrator City of Ramsev 15f53 Now, th&~ Boulevard N.W. Ramsey, /','IN 55303 153rd Avenue Appraisals Ramsey, MN Dear RVgB, Thank you for soliciting my firm to provide appraisal services to the city of Rarnsey. Based on your June 4. 19'93 letter and our recent telephone conversation, it is my understanding that tile city requires market value appraisals for the extension of 153rd Avenue. This extension as outlined on the map enclosed in your letter ,Mil impact 3 to 4 properties. Your letter indicated that righi-of-way easements will be acquired over portions of t\vo single family homesteads, and over an undeveloped parcel that lies between the two homesteads. This undeveloped land may be under two ownerships, it is my understanding that much of the undeveloped land to the southeast of the proposed road right-of-way is wetland and that the city would like to acquire fee title to this wetland area. Based on your letter and our conversation, I am assuming that you will reauire three or four easement valuations (one for each ownership) and one or two ~ee simple valuations (if the wetland area is under two ownerships). Easement and fee title acquisitions that impact the same parcel can be valued in one appraisal. Therefore, the total number of appraisal reports you will require should be either three or four depending on the number of ownersi~ips. Because the easement and partial fee takings may cause severance damages, full before and after valuation analyses would be necessary for each property. ].'. is difficult to determine an exact fee for this work before the assignment is underway and all relevam factors that ma',' affect my valuation analyses are known. I estimate that the residential appraisals would each cost between $1.5~30 and $2.500 to prepare, and that the vacant land reports would cost between $2,000 and $3,500 per report. This fee schedule is based on the scope of the assignment as described in your letter and during our telephone conversation. I realize that the above fee estimates represent a relativel,,, broad range, and every effort will be made to contain mx' appraisal costs. ! am sure, i{owever, that the city expects a thorough investigation an'd reporting of ali factors that affect the before' and after valuations of these properties, and until assignments of this nature are underway, it is often extremely difficult to gage their complexity. For these reasons, I reserve the right to renegotiate the contract amount if unforeseen problems are encountered that cause a significant increase in the time needed to properly complete the assignment. If such a situation arises, an increased fee would not be billed without prior approval and authorization from the city of Ramsey. I I I I I I I I I I I I