Agenda - Economic Development Authority - 09/07/2000

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APPRAISAL DEVELOPMENT AND REPORTING PROCESS CONT. that help define what the subject land is like are pertinent to assume, and these are as follows: Special Assumptions 1) The land size is 44.63 acres or 1,944,135 square feet. This is my estimate of the subject's size using dimensions on a half section map. 2) The subject is affected by wetlands. The amount of wetlands is estimated to be 208,100 square feet. 3) The subject is located about one half mile south of a large land fill which is now closed and sealed. Monitoring wells about the subject would seem to exist so that the ground water my be periodically checked for down gradient migration of landfill products within the water table. In- so-far as is known, it is assumed that the landfill has been totally encapsulated, and that no contaminants affect the subject's ground water or soils which might otherwise need to be corrected so that industrial building development may occur. 4) No easements affect the subject, but the MPCA or other such body may hold the dght to access the subject to inspect monitoring wells. Moreover, the locations of monitoring wells should not affect future subdivision development of the subject with industrial buildings. They wells are probably not permanent, and they could be moved. 5) The subject is within the MUSA line, and all utilities are in the area which can be used for urban development use of the subject. The subject though has not been assessed any trunk assessments for such utilities. REAL ESTATE APPRAISED The subject is a 44.63 acre, or 1,944,135 square foot site located in the City of Ramsey. It is zoned I, Industrial, and is comprised of five tax parcels of land as follows: 27-32-25-42-0007, 0009, and 27-32-25-41-0001, 0002 & 0004. The legal description is one having a lengthy metes and bounds. The only mailing address that is associated with the property is 14280 Sunfish Lake Boulevard, which is for tax parcel 0004 where the building improvements are. Most of the subjects land area actually lies to the west and northwest of this sub parcel of the whole. According to tax records, the subject is owned by Waste Management of Minnesota Inc. The assessed value of the whole for taxes payable 2000, which includes buildings, is $412,300. Taxes amount to $15,759.34. The assessed value of only the land is $356,200. The topography of the site is for the most part, level. Soils are sandy, the property is within the MUSA line, and all utilities are available to serve urban development. A wetland area that is surrounded by some oak trees is located on the south central edge of the subject, and is BCL APPRAISALS, INC. 2852 Anthony Lane South, Minneapolis, Minnesota 55418