PRECA 07-13-1994 - Laserfiche WebLink

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City of New Brighton Ernie Mattila 803 5th Avenue Northwest New Brighton, Minnesota Re: Silver Lane Land Dear Ernie, I have reviewed the appraisal you obtained on the Silver Lane land. I feel the appraiser has made several mayor mistakes and assumptions in his evaluation process. The Appraisal conclusion then would be improper and of no value. I will try to explain the errors that I see, and what areas of the appraisal they would effect. Under the Puroose of Appraisal: there is a statement that the appraiser seems to have been overlooked in the definition. "assuming the price is not affected by undue stimulus", I point this out for reference at a latter time. Under Site Description: Easements; He .states "the subject does not appear to be affected by any easements, over or beneath the surface of the land." There exists a water main located on the east line of the property, that would require a minimum 20 foot setback. This runs north and south the full length on the property. An easement does not exist on this _property because the city does not need as easement over land that they already control. This is a lack of effort in making inquires about possible easements on city controlled land that would be in favor of the city. Under Zonino: The appraisal states "The subject is zoned R-1, Single Family Residential. The lot size minimum is 10,000 square feet. Property west of the subject is zoned multi- family, and east is zoned R-1, PRD. The PRD zoning overlay for the purposes of this appraisal is not applicable for the subject." I feel this is a lack of understanding of the situation, or lack of investigation of the property. The park land was part of the PRD and density calculation have been based on this land being part of the PRD and the total number of residential units in this area have been allotted and the park area does not have the ability to deed land and grant an additional building site {unit) into this area without redefining and amending the entire PRD. Under Niohest ,~.~ hest Use: The appraisal states "Highest and best use is defined as the reasonably probable and legal use of vacant-land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum