2007-08-08 Appraisal of landNAGELL APPRAISAL & CONSULTING
7515 Wayzata Blvd. #115 Minneapolis: 952-544-8966
Minneapolis, MN 55426 St. Paul 651-209-6159
Established in 1968 Central Fax 952-544-8969
Couri, MacArthur & Ruppe August 8, 2007
Attn: Michael Couri, Attorney ~/
705 Central Avenue East ~~~-'`
St. Michael, MN 55376-0369
RE: Appraisal of land
Lot 1, Block 1, Barthel Commercial Park Third Addition
Albertville, MN
Dear Mr. Couri:
Thank you for your interest in obtaining appraisal services regarding the property above. Per
our conversation, you indicated an appraisal report with the following research and analysis is
needed.
Report UseNalue Type: The report use is for negotiation purposes by the City of Albertville
with the current owner for the potential purchase of the above referenced property. Appraiser is
to assume the road is already constructed and sewer and water are installed. Current market
value reflecting highest and best use per Uniform Standards of Professional Appraisal Practice
will be provided.
Property Description: A 1.6 acre parcel of land. Contact for access: Michael Couri to
provide if necessary here
Scope of Report: (1) An inspection of the property and view the neighborhood. (2) Report the
physical and/or economic factors that could affect the property. (3) Complete research and
analysis of pertinent market data. The sales comparison approach to value will be applied.
(4) Where appropriate, comparables will be adjusted on a grid. (5) Report findings and
conclusions.
Report Format: A Summary Report (Standard from report) will be used. It has a summary of
statements of the data, analysis and conclusions. Appropriate photos, maps and exhibits are
included. Two hard copies of the report provided.
Fee: The fee is 1 200. Client named above is responsible for payment. Any litigation
proceedings/preparation is extra and would be billed at $100 per hour.
Due Date: Report can be completed in 4 weeks from signed confirmation.
Information needed by the appraiser at inspection: Already provided.
Our company has 10 employees and has been in business since 1968 and has sufficient
knowledge, experience, education and resources to competently complete this assignment.
Neither the employment to make the appraisal, nor the compensation for it, is contingent upon
the appraised value of the property. If you agree to the above terms, please sign below and
return by fax or mail. If you have any additional questions, please do not hesitate to contact me.
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CITY OF ALBERTVILLE.
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION N0.2007-103
RESOLUTION AUTHORIZING THE CITY OF ALBERTVILLE TO
CONTRACT WITH NAGELL APPRAISAL AND CONSULTING TO
APPRAISE APPROXIMATELY 1.6 ACRES OF FUTURE ICE ARENA
LAND ABUTTING THE STMA ICE ARENA TO THE SOUTH,
CURRENTLY OWNED BY DON BARTHEL FOR
A COST NOT TO EXCEED $1,200
WHEREAS, the Albertville City Council desires to facilitate the purchase of land to expand the
STMA Ice Arena, and
WHEREAS, the Mayor and Council have reviewed Bill Waytas ofNagell Appraisal &
Consulting's appraisal proposal, and
WHEREAS, the STMA Ice Arena Board has expressed interest in acquiring land abutting the
arena to the south, and
WHEREAS, School District No. 885 has approximately $500,000 of bond proceeds to acquire
arena land.
NOW, THEREFORE be it resolved by the City Council of the City of Albertville, County of
Wright, State of Minnesota:
To authorize the Mayor and City Administrator to enter into a contract with Nagell Appraisal &
Consulting to appraise Don Barthel's approximately 1.6 acres of land south of the arena in a post
street construction condition for a cost not to exceed $1,200.
Adopted by the Albertville City Council this 1St day of October, 2007
Ron lecker, Mayor
l
Bridget Mi11 ,City Clerk
M:\Public Data\Resolutions\2007 Resolutions\R 2007-103 (Appraisal of 1.6 acres land near Ice Arena).doc