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(THU) 8. 10' 00 16: 04/8T. 16: 04/NO. 4260889937 P 2
MEMORANDUM
LARKIN, HOFFMAN, DALY & LINDGREN, LTD.
TO:
Mayor Woody Love and
Members of the Shorewood City Council
Timothy J. Keane, City Attom~____
James A. McGreevy. ill -" <rT ~
August 10. 2000
FROM:
DATE:
RE:
Process Issues Relating to the Conversion to a Ward System
Our File No. 24,444-14
This memorandum is in response to your inquiry relating to the creation a ward system of
government in the City of Shorewood (''the City").
The enabling legislation, signed into law by Governor Jesse Ventura on March 13,2000, requires
the City conform its wards to the provisions of Minn. Stat. 204B.135 and Minn. Stat. 205.84.
Laws 2000, Chapter 257, ~ I. The legislation is silent as to the exact number of wards to be
created. However, as a Plan A~Statutory City, the standard is to have a Mayor and four (4)
council members. The legislation calls for staggered council terms.
The Minnesota Legislature will redistrict congressional and legislative boundaries in the
upcoming 2001 legislative session. It is advisable for the City to piggy-back its ward system
change with the Legislature's restricting action.
Minn. Stat. 204B.13S pertains to the redistri~ting of election districts. A city that elects its
council members by ward cannot redistrict those wards before the legislature has redistricted the
congressional and legislative boundaries. Once the Legislature has taken this action, the City
must draw its ward boundaries within 60 days. Failing that, the City's ward bo\Uldaries must be
completed at least 19 weeks before the 2002 primary election. Minn. Stat. 205.84 requires that
wards be "as equal in population as practicable and each ward sba11 be composed of compact,
contiguous teIritory.tt Minn. Stat 205.84, Subd. 1
When drawing the ward boundaries, it is imperative to keep in mind the standards that apply to
election precinct boundaries. as welL Pursuant to Minn. Stat. 204B.14, the Council has the
authority to establish the boundaries of election precincts in the City. Wards qualifY as precincts
under the statute. It may be possible to fit the City's present election precincts within the new
ward system. In the alternative, it may be possible to create one precinct for each ward.
However, precincts must be arranged so that no precinct lies in more than one legislative or
congressional district. MiIUl. Stat. 204B.14, Subd. 3.
Precinct boundaries must also be drawn to follow ''visible. clearly recognized physical features. to
Such features include streets, roads, boulevards and parkways, as well as. rivers, streams.
-=M. ;:L
F&OM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8. 10' 00 16: 05/3T. 16: 04/NO. 4260889937 P 3
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shorelines, drainage ditchest and railway rights-of-way. Minn. Stat 204B.14, Subd. 6. It is
advisable to have ward boundaries follow this standard as well. Howevert no similar provision
in law mandating this as a local requirement.
Upon completion of the City's ward map, the City Clerk \the Clerk') must notify the Secretary
of State's Office ('~e Secretary"') of the new boundaries. The Secreta%y will review the
boundaries and determine whether they comply with all statutory standards. If they do not
comply, the City has 60 days to eonfonn its boundaries to the satisfaction of the Secretary.
FinallYt the enabling legislation requires the Clerk to certify to the Secretary the essential facts
that led to the passage of the new ward Ordinance. This certification must include a copy of the
Resolution recommending the ward system change. The City's ward system becomes effective
the day after the certification is filed. Laws 2000, Chapter 257, ~2.
Attached to this memorandum is: (1) a copy of the final ward legislation as signed by Governor
Ventura; (2) a copy of the Secretary of State's Certification form to implement the ward change;
and (3) the Secretary of State's timeline to implement ward and precinct boundary changes.
We suggest the Council begin the discussion of implementing the ward system now. Please do
not hesitate to inquire further as you move forward with this project.
Thank you.
::ODMA\PCDOCS\LID l\1il)g&73\l
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2.
FRGM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8. 10' 00 16: 05/3T. 16: 04/NO. 4260889937 P 4
LOCAL GOVERNMENT-SBOREWOOD-ELEcrION
. OF COlJNCJL MEMBEBS FROM wAims
CJL\PTD 25'1
R.F. No. 2585
AN AJ:r ~ to local ~t; aU,owbIr the, . of Sl\QmroOd to prvride .for 'eJ.ediod of
C01IJ1cil ~ fro. QI'lIs., ,; '. .' :
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. AN ACr n1atiatr 10 ~ pruridDc a ....-.~ fr:08l ,..,. for- OP"i~ of the
, ,~ie~~n.,dremeIItv!tbe~F-~mrW--C08Ili1'
BE PI' BNACTBD BY ~ LEGISLA:l'UBB (;F ,fIlS ST.A1'E 0' Jt!INNB.SO'!'A:
Sed;IDn L WADJi1NA. COIJNl'Y; LEVY AumOlUZATlON~
For'taze8 levied in 1999 ~. ~e1e i2l 0000 oalf. tlJe ~ ~ ~
StatGtcs. ~ 2'l5.065. subdivision '1. that th8~:"..':nnU;;~ ~ - tile Dl'8fIOlIa . ~ af
!!!7 ~ of fiiihiN=t.o eomulY' ~ ~ of ~ Sf.atu.tes. section
~.065. ~O'" 5a. does not ~1y to the lP-vv afWadeDa eoun~
Sec;2. LOCAL APPROV AI..; EJi'F.ECTIVE DATE.
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Sectf,Qn 1 is ~ UDOJl ap~ bv the Wad.ena eountJ' board and eomn)ianee with
Mmnesata SI;a.1:l1tes. seet;iml645.0Zl. ~ a., '
~ to 1M gvt'emor March 9, 2000.
ApproVed March 13, 2OOQ.
18 AddilIlJns an: iIldIG8l8d by,~; ~ IIJ ~
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FROM LARKIN HOFFMAN DALY (612)896-3250
(TOO) 8. 10' 00 16: 05/8r. 16: 04/NO. 4260889937 P 5
CERTIFICATE OF APPROVAL OF SPECIAL LAW
BY GOVERNING BODY
(pUlSuant to Minnesota St.alutes, 645.02 and 645_021)
STATE OF MINNESOTA
County of
TO THE SECRETARY OF STATE Of MINNESOTA;
PLEASE TAKE: NOTICE, That the undersigned chief clerical officer of the
DOES HEREBY CERTIPf. that in compliance with the provisions of LaWs, . Chapter
(year) (number)
requiring approval by a majorItY' vote of the 9O"eming body of said toea/governmental unit before it
becomes effective, the
.
(deslgnate governing body) L
at a meeting duly held on the _ day of . by resolution
(if other than resolution. specify)
did approve said laws, . Chapter
(year)
(nu~ber)
by:it majority vote. of all of the members the(eof (Ayes ----.." : Noes
Absent or not voting ~ and the foUowing additional steps. if any. required by statute or charter were
taken: '
A copy of the resolution is hereto annexed and made a part of this eertificate by refefence.
Signed:
.
SEAL
(Oftiaal designation of officer)
(This form prescribed brthe Attorney General and furnished by the Seaetary of State as required in
Minnesota Statutes 645.Q21.) ,
"'If extraordinary majoriW is required by the special law. insert fraction or percentage ~re.
Piau. see reverse side for instructioll$ for completing this form.
<;ertaultl.p6S R......7/98
FROM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8. 10' 00 16: 05/8T. 16: 04/NO. 4260889937 P 6
fNSTRUCTJONS
Include the chapter humber in the Laws of Minnesota that Is to be approved on the Certificate of
Approval form and in the resolution that approves the special law.
Return the completed originally stigned Certificate of Approval form with a photo copy of the
~olution that approved the special law to:
Eledion DiVision
Secretary of State
180 state Office Building
100 Constitution Ave.
Sl Paul. MN 55155-.1299
. If you have anyquestfons please contact Renee Coffey at (651 )297-5845.
.
FROM LARKIN HOFFMAN DALY (612)896-3250
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(THU) 8. 10' 00 16: 06/8T. 16: 04/NO. 4260889937 P 7
Components of Training
Course Continued...
Mary Kimneyer
Secr-e.wy of State
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A Couple ofDefinitiollS
... c~ 81odl:s- The sma.Uest#O~ ~
wnl: in the cenms. .BJoc:b JDay be as SIDaU as
a siagle dly block. or u l:aq:. IS a IOWbShip.
All populUlOQ and d8lJlOgraphic: iDformmOll
wiU be: reported by CCDSUS bJoct.
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FRbM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8.10' 00 16:06/8r. 16:04/NO. 4260889937 P 8
Definitions Con1im1ed
-
.+ Census Couar l4~:
. TOtIIlopul8!%oa
· PopularlOn by Raoc
· Total of~ on.m (N0fI!:; HIspmic $.lICl
~c4 4rac:c.)
. NumO.Jrot~ Ih~of.lIIId~.
~
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When Will it Happen?
'_ .. The Cer1sus WIll smrtApn'll, 2000 ~
· Census coum.s wiD be reported back to !he
$tau: no lata'th3,n Apritl" 200t.
. UnofficiaBy ~ COUIUS 8ft ~ OD
Match lot. 2001.
.
Leg:islature St3rts R.edistricting
.. TIll: L~ ~1111: stile h:gisladvc~
COn~ 4ba'i4c.
. 11Iay....~.JI-..._ ~..__.....
MatcI! l~. 200.1.
- .. A.pcd.oI:ICI:Iloail a~.
. ~is~ro""'_~_
_ . As.II. PrJnc:l~ 1hc ~'WiD ~lQ&"ol4
spIiItiDg c:itics by cIher~ orh;isla~
~i..- balt1rill =-r.
"
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FROM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8. 10' 00 16: 06/8T. 16: 04/NO. 4260889937 P 9
Legislative District Changes
.. In J991 the lqett bouse 4mriCl. ~ !ill!
33,427 pt:nc)DI. Ulo 5II1alka3J so.z. If
~~g occurred todayfbc'avenge
dlSlZlct 'Would 1aave . ))ODulatian of35.6a9.
. ~4outmows pl~4bJino iD "_dation "'-
dlm'K:t. -- "r
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DiIlVence beIw-. ICthdN 1.........
poplIIilloq -- --.~.....,.,....
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Municipal R.edistr1cting of
Wards and Precincts
~~' ii!I
- .. R.equitCDWlt$ on Pftcluou apply to bolb
- SE3tQn)ry md dwter cirie$.
· hec:inc:ts musE bo fecIrI.wR DO ~!hlll ~
days a:ftcr'dM~_~
recJi:sari~& outleut J, wtetsbefon:thc
.ftUe ,pnllUly. wlUch !:'let 0ClCIIr$1frst.
. ~ atl!pril30.2OO1.
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FROM LARKIN HOFFMAN DALY (612)896-3250 (THU) 8.10' 00 16:06/8T.16:04/NO. 4260889937 P 10
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Municipal Redistricting
Continued.. .
. --- T ~l .
MnniQpaj P.rIcincts ~
'" Com:ain DO more thar1 C1De legisJatiy~
con~iODaJ. <<Jun1y wll1missiOllet
district, or MllDicipal ward.
· Must lollo'W ce~ (11odl; bollDdaries ill
2002.
.~ IllaYtolJcw~.
pjlyfle.l.~ ~JmIII:IQ' 1.2OOJ8
Statutory Lilllits
On Precinct Size
· '1"ha'e is DO statIIroJy Jilllit 0J11he phyk "if
si~ lW JlOImlation COWlt of. ptc:l::inct.
... !i~e\'a' as & pr.a.ctical.1Dli'l:l<< apcricnc;c
JUd.i~ f1w:2tIOO"Z,500 is as Jar:&e as a
~ ca.n Dc "I'itbout ldmini:slraJ.ive
problems..
&;
CULTent Precinct Free2:e
· As of J8mIac)' l, 2000 nauaicipal ~ ..
bouncbries wert frou:n uWl tho oompJetioll
tJ rcdistriC1iD,g. ,
· 'Ihent ate 1""0 bit qceptiom:
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· A~lIIIYJfllit..-"'""",,,_
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F~OM LARKIN HOFFMAN DALY (612)896-3250
(THU) 8. 10' 00 16: 06/ST. 16: 04/NO. 4260889937 P 11
Municipal Wards
.. Cities fbat.I= dldr cit,y COQncil ~
by war4 .QWs[.recIiar.ictthcil' wil'!ls,Jg lbld:
.. 'DIey -ascqll8( 1D~;a~
· Thcy-~Of~ltJJ1mly. .
.
.Miuricipa.l Wards
- . Wards IUust be redisIricted lri'tlliu. 60 ~
at'ttrthe 1~1las beeu ~ t1r
- ax last 19 wecb bean the state JIrimary,
whidl iNet i$ first.. .
· .EstinJmd dcadJirac,. ApriI3G. 3002..
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CITY OF
SHOREWOOD
5755 COUNTRY CLUB ROAD · SHOREWOOD, MINNESOTA 55331-8927 · (952) 474-3236
FAX (952) 474-0128. www.cLshorewood.mn.us' cityhall@cLshorewood.mn.us
MEMORANDUM
. TO: Mayor and City Council
FROM: Brad Nielsen
DA TE: 10 August 2000
RE: Gideon's Glen - Appraiser's Report
FILE NO. 405 (Gideon's Glen)
.
As of Monday night's meeting the appraisal for the Gideon's Glen property becomes
public information. The appraiser estimates the current market value of the property at
just under $450,000. It is worth noting that the City Assessor feels the property is
probably closer to $250,000. While it is not.necessary to agree on a price on Monday
night, the Council must begin thinking about how much to budget in coming years to pay
for the property. It may be realistic to expect that the City may end up fronting the
money and attempting to recover it from outside sources such as the Watershed District.
Staff will have some suggestions at the study session on Monday night. For the time
being this item will be left blank in the budget and CIP.
Cc: Bonnie Burton
Larry Brown
n
'-.1 PRINTED ON RECYCLED PAPER
:t1)
J. Scott Renne, MAl
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Real Estate Appraiser. Consultant. REALTOR
2729 IRVING AVENUE SOUTH' MINNEAPOLIS, MINNESOTA SS40e
(612l 871-'4'7' FAX (6.2l 871-148' . PAGER C6'2l 66'-32S6
Mr. Brad Nielsen
Planning Director
City of Shorewood
5755 Country Club Road
Shorewood, .MN 55331
July 13, 2000
.
Subject: Market value appraisals on commercial/residential land located at 5620 Manitou Road,
Shorewood, Minnesota; Development Process; Complete Appraisal/Report Type; Restricted
Appraisal Report
Dear Mr. Nielsen:
Pursuant to your request, I have completed a market value appraisal report on the above
referenced property.
The purpose of the appraisal is to arrive at an estimate of market value of the fee simple interest
of the subject property as of July 4, 2000. The definition of market value and the other contents
of the report comply with the Uniform Standards of Professional Practice of the Appraisal
Foundation and Title XI ofFIRREA as I understand them. This report is subject to the
assumptions and limiting conditions contained herein.
.
The definitions of market value and the property rights appraised in the valuation are:
Market Value: The most probable price, as of a specified date, in cash, or in terms
equivalent to cash, or in other precisely revealed terms, for which the specified property
rights should sell after reasonable e.:r:posure in a competitive market under all conditions
requisite to fair sale, with the buyer and seller each acting prudently, knowledgeably, and
for self-interest, and assuming that neither is under undue duress.
Fee Simole Estate: Absolute ownership unencumbered by any other interest or estate
subject only to the four powers of government.
The function of this assignment was to estimate the value for planning and possible acquisition
purposes of the subject property by the client. This report was prepared in conformance with the
Uniform Standards of Professional Appraisal Practice.
Report Determination Der USP AP
Types of Appraisal Development Processes
1. Complete Appraisal: The act or process of estimating value or an estimate of value
performed without invoking the Departure Provision. To develop this type of appraisal, the
appraiser will use all applicable approaches to value and the value conclusion will reflect all
known information about the subject property, market conditions and available data.
.
II. Limited Appraisal: The act or process of estimating value or an estimate of value
performed under and resulting from invoking the Departure Provision. This type of appraisal is
limited because the appraiser and the client agree prior to the commencement of the assignment
that the appraiser will not use all applicable approaches to value, or that the value conclusion will
not reflect all known information about the subject property, market conditions and available
data.
Types of Appraisal Reports
I. Self Contained Appraisal Reports: These reports may be either a Complete Appraisal
(no departure) or a Limited appraisal (with departure). These contain to the fullest extent
possible, the practical explanations of the data, and reasoning and analyses that were used to
develop the opinion of value. Self contained reports also include thorough descriptions of the
subject property, the property's locale, the market for the property type and the appraiser's
opinion of the highest and best use.
.
II. Summary Appraisal Reports: These may be either a Complete Appraisal (no departure)
or a Limited Appraisal (with departure). These contain, summary discussions of the data,
reasoning and analyses that were used to develop the opinion of value. Summary reports also
include summary descriptions of the subject property, the property's locale, the market for the
property type and the appraiser's opinion of the highest and best use. Any data, reasoning and
analyses not discussed in the Summary appraisal Report are retained in the appraiser's work file.
m. Restricted Appraisal Report: These may be either a Complete Appraisal (no departure)
or a Limited Appraisal (with departure). Restricted reports contain statements of the appraiser's
findings with limited explanation of the data, reasoning and analyses that were used to develop
the opinion of value. All of the data, reasoning and analyses in support of the appraisers findings
are retained in the appraiser's work files.
Conclusion: The development process for the appraisal is Complete Appraisal, using three
approaches to value and the report type is Restricted Appraisal Report. The report clp1 be
modified to a summary or self contained report at--1he direction of the client at an additional fee.
Page 2
Extent of the Appraisal Process
The scope of the assignment included:
Physical inspection of the subject property and neighborhood on July 4,2000
Teleconference with staff of the City of Shore wood and the property owner
Survey and analysis of comparable sales
Highest and best use analysis
Application of the appraisal process
.
Le~al Data
A general description oflegal data is:
According to Hennepin County records the owner is Thomas G. Sims. Records
show that he purchased the property in August, 1992 for $49,500.
The legal description Lot 26, Auditor's Subdivision Number 133. The Pill is 33-
117-23-13-0012.
The subject has taxes payable in 2000 of$2,16.74.74 plus specials of$859.40.
They are based on an estimated market value of $65,000.
City Information
.
The subject property is located in the east central part of the City of Shorewood, Minnesota.
Shorewood is a west Hennepin County suburb that is primarily residential in its land use and is
noted for extensive shoreline on Lake Minnetonka, the premier lake in the Twin Cities.
The Community Profile for Shorewood is in the addendum. On the following two pages are the
Multiple Listing Service statistics for District 381 which encompasses Shorewood and several
other Lake Minnetonka communities and for Shorewood alone.
Page 3
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...}::::::::~:::.::::~~!11_i:ijj::ii:!li::!i!i11!:::::::j!i~~j:::::i!:i::::::11:11~i!::i:i::i::!::::i!:I!:!1i::ji:!ji~:!~:~:!:1~:i:!j::!!~li1::i:l:~!:::il:!:!~:!!l:i:::i!11!!!!ji!i.:!:!:1111!:!~::::1
::1111:
Property Type # Active Average Asking Average Days
Listings Price Market Time
Single Family 236 $721,667 63
Condorrownhouse 31 $401,147 76
Land 89 $358,146 311
. Investment 3 $532,966 92
%of Average Sale Average Days
Property Type # Sold Listings Price Market
Sold Time
Single Family 270 59 $392,844 48
Condorrownhouse 43 57 $201,282 70
Land 42 52 $167,716 187
Investment 2 50 $182,000 148
.
Page 4
j:~~j:~.~:~:~~:i~i~~:~i:j::i::!ii:ii:::~:j::iiiji::::ii!jjl!i:ji::ji::~:!ll;:~:j:!::i::::j::::::!~i~j::!~:i!i:ijil!l!:!:i~::::i:::i::i:i:i::j:i:l:::~:~ii:::ii::i:!:i::::::i~:::::iil::I:_i:_I~:~iii::~
1il:il:!i:;li:iili:lliilt::..:.:.:.:.:.:.;-:.;-:.:.:.:.:.:.:......:Ji:iii\...:.:.:.:.:
Property Type # Active Average Asking Average Days
Listings Price Market Time
Single Family 25 $489,172 55
Condorrownhouse 3 $276,466 38
Land 6 $182,816 862
. Investment 0 NA NA
!~.:.::j..:j..:i!i::~:i~:j~::~:i!.::lj~:::~j!ii:i:j:!:i:l!tj::I:I:i!l:liiii!I1.I.I:III:.!llillll:I:I::~:.,.;.:.;;.............
%of Average Sale Average Days
Property Type # Sold Listings Price Market
Sold Time
Single Family 35 64 $423,774 44
Condorrownhouse 8 53 $293,312 81
Land 7 58 $193,914 155
. Investment 100 $279,000 42
Subject Nei~hborhood
The subject property is located on the west side of Manitou Road (County Road #19) two lots
north of Smithtown Road. There are mixed uses within the area. The intersection of Smithtown
Road and Country Club RoadJManitou Road serves as a commercial node for the neighborhood
with some uses being destination uses. At the northwest comer of the intersection is a carpet
store, Total gas station, American Legion, light industrial use and residential, both single and
multi- family.
The Minnetonka country Club occupies the southwest comer. The southeast comer has a
convenience store, auto sales lot and free standing commercial uses. The largest commercial
building in the area is Smithtown Crossing on the northeast comer, which is a strip center and
Page 5
three free standing retail buildings. There are approximately 20 tenants, with no regional or
national credit strength tenancies. The building appears to have some deferred maintenance and
would be considered to be a weak commercial property.
Percent Built Up:
85%
Stage of Development:
l:iijii!i!jil!!ljijiji!:iiiiiiiiji::iiijjijii!ijl::i:i:j:'iji:ji:j:.:ij:::j"ii:jiij:jiitij:ii::II~l_llllil~1!illltll'!iiii:ii:'il:j!i!'j:'jii:i'jiij'!":::'i.:i'l..i!i':.:I:jiii!:::i!!ii:::1i.l::':!::
::!i!jii,i!:i::!
Growth:
A period during which the neighborhood gains
public favor and acceptance.
A period of equilibrium without market gains or
losses.
Stability:
.
Decline:
Revitalization:
A period of diminishing demand.
A period of renewal, modernization and increasing
demand.
Most of the neighborhood IS In the stability phase of the neighborhood life cycle
with some areas In the decline.
j::iiiiii:j:ii:iii::iii:[iij:::iiiiil::i:i:ijiii:j:ii:i::~iifi!:::li!i:liiiiiiii:iilii:!iil!!~1:!iii:::i::iiii:li:iii:i:!!li!ii::::i*lIl:iiIBiliIBiiiilii:iiiiiiii:i::::!iii!ji:iiiii:i!!iii,ii!i!ii:ii
ii::ii::iiii:iiiiii!ii:ii::i:iii::ii:i:::jii:i:i:::::::::::!i::i:~:iiii:iiii:::::il:iiii:!:iii:!:iii::
Single Family Commercial Multi- Industrial Institutional Vacant
incl. golf course Family
20%
45%
10%
5%
5%
15%
.
Reputation of the Area:
The reputation of the area IS good. The properties are well
maintained, and few exhibit deferred maintenance.
ValueslRents Trends:
Real estate values and rents have been strong In the past two years
with an exceptionally strong local economy. MLS District average
sales pnce was up 18.8% between 1998 and 1999 ($309,702 to
$367,958). All real estate markets are doing well.
Page 6
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Characteristic
5620 Manitou Road, Shorewood, MN
Size/shape
Reported to be 6 acres or 261,360 square feet (note that no survey was provided to the appraiser)/Nearly
rectangular
Zoning
The frontlimr acres are C-3, General Commercial District; the rcar two acrcs are R-I C, Single Family Residcntial
District
Topography
Grade rangcs from 975 feet in front to 946 feet in NW portion; Grade drops from south to north; it is reported that
there is 14,000 SF of wetland area in the north central portion
Accessibility/Identity
Site Improvements
Access to the site is off Manitou Road; development of the residential portion would require an access easement
or Street through the commercial portion that fronts upon Manitou RoadlTraffic counts are good with 14,400
vehicles per day on Manitou Road
All municipal utilities; Manitou Road is a two hine bituminous surfaced street with bituminous curb and gutter
Public Infrastructure
There is grass, shrubs and trees in addition to public infrastructure
Highest and Best Use
A mixed use development of commercial and residential per existing zoning; a rezoning to allow a
comprehensive development of residential, probably attached units such as the Gideon Woods subdivision to the
north
Comments
The subject is adjacent to an industrial use and near a gas station. There is a higher probability for soil
contamination with industrial or gas station uses as compared to other property types. No soil tests were provided
to the appraiser nor any other information regarding the presence or absence of contamination. The appraiser is
not qualified to determine if there are contaminated soils. It is recommended that the client consult with an
appropriate expert if the possibility of contaminated soil is of concern to them.
Page 7
Zonin~
The subject property has two zonings; C-3, General Commercial District and RIC, Single Family
Residential District.
The C-3 District is intended to provide for the establishment of commercial and service activities
which draw from and serve customers from the entire community or subregion. There are a wide
variety of permitted uses including those allowed in the C-l or C-3 districts.
The R-IC District is intended to allow a greater concentration ofsingle-famiIy dwellings in areas
served by Municipal utilities and where appropriate reservations for open space have been
established by means other than individual lot areas. Permitted uses include single family homes
with lot area of at least 20,000 square feet.
.
General Appraisal Methodolo~
The valuation of a typical parcel of real estate is derived principally through three basic
approaches to value: The Replacement Cost Approach, the Sales Comparison Approach, and the
Income Approach. From the indication of these analyses and the weight accorded each, an
opinion ofvaIue is reached based upon expert judgement within the outline of the appraisal
process. More specifically, the approaches to value are described as follows:
R~lacement Cost Approach
This approach requires that a current estimate of the cost of replacing the improvements
be made, from which must be deducted accrued depreciation in terms of physical
deterioration, functional obsolescence, and economic obsolescence, if any, and to which
is added the estimated value of the land, as ifvacant and put to its highest and best use.
.
Sales Comparison Approach
The Sales Comparison or Market Data Approach is based upon the principle of
substitution, that is, when a property is placed on the market, its value tends to be set at
the cost of acquiring an equally desirable substitute property, assuming no costly delay in
making the substitution. Since no two properties are ever truly identical, adjustments to
the comparable are necessary for differences in location, quality, condition, size, market
appeal, and other-matters.
Income Aoproach
The Income Approach involves an analysis of the property in terms of its ability to
provide a net annual income in dollars over a given economic life. The estimated net
annual income is then capitalized at a rate commensurate with the relative certainty of its
Page 8
continuance and the risk involved in ownership of the property, by utilization of the
formula: Net Income, divided by Capitalization Rate, equals Value. For residential
property ofless then four units a gross rent multiplier is developed by dividing the sale
price of comparables by the unadjusted monthly rent. This factor is multiplied by the
economic rent for the subject property to derive a value estimate.
Methodolo~ as it Apolies to the Subject Property
There were three approaches to value considered for the subject properties. The vacant land
nature of the properties indicates that only the sales comparison approach is appropriate. The
highest and best use was determined to be a mixed use of both residential and commercial.
Market Conditions for Commercial Property
.
Both national and local studies were used to analyze the demand for commercial property to
develop insight into the market for the subject from both leasing and sale perspectives. A number
of resources were used. The following list includes the primary sources of data.
1. Towle Report
2. Korpacz Real Estate Investor Survey and Real Estate Market Forecast
3. Annual Twin Cities CCIM Forecast
4. NAlOP industrial market study
5. Cushman & Wakefield Real Estate Outlook
Some of the comments in these publications are national in scope and more from the perspective
of institutional grade property. The subject's location in Shorewood suggests that it would be a
candidate for a local investor or an owner user for development.
.
1999 Minnesota Shoppin~ Center Association Retail Real Estate R~ort
The following is the executive summary of the annual MSCA report presented in November,
1999.
Our survey participants rank restoring and retrofitting existing retail space as the
number one opportunity in 1999, a likely reaction to high construction costs and
land price.
Our survey participants rank new development as the number one challenge in
1999. The new development has a strong impact on the existing centers in the
market.
Electronic commerce (e-com) is now among the top three challenges according to
our survey.
Page 9
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Neiehborhood Center
Definition: 30,000 - 149,999 s.f. Number of Properties: 244
Total GLA: 17,661,076 s.f.
Percent of Total GLA: 37,2%
Real Estate Tax Midpoint: $2.40
Real Estate Tax Rate: $.75 - $7.00 CA1\1 Midpoint: $1.92
Midpoint Vacancy Rate:
!
.
1999
1998
1997
1996
1995
1994
1993
2.40%
2.60%
3.00%
4.63%
4.54%
6.30%
5.70%
Average Vacancy Rate: 8.4%
KOl1'acz Real Estate Investor Surveys
National Suburban Striv Shoppin~ Center Market
.
While lucrative investment opportunities e'Cist in the national strip shopping center market, they
are hard to find. Once a prospective deal is found, investors analyze it carefully and quickly. The
scarcity of quality product is pushing some values unjustifiably high. While high asking prices
are limiting the number of bidders, fears of over building and of high competition from the
Internet are also prompting some investors to limit their retail investments.
Active buyers continue to search for properties that have upside potential and that are located in
markets where future economic and demographic growth is favorable. Preferred markets include
Chicago, Florida, the Pacific Northwest, and the Northeast. For example, DLC Management
Corp. recently acquired a 210,000 square foot shopping center in Wappinger, New York for
nearly $92.00 per squarefoot. Also, Inland Retail Real Estate Trust acquired a 375,067 square
foot shopping center in Cartersville, Georgia for $65.00 pe square foot.
While some REITs are able to acquire properties in the market, others are finding it difficult to
raise adequate capital and still operate sufficiently. As a result,.some REITs are merging with'
other REITs. For example, CV REIT Inc. and Kranzco Realty Trust, two REITs specializing in
shopping centers, recently merged to form Kramont Realty Trust. Other REITs are disposing of
Page 11
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2. Zoning and other public controls: use restrictions, structural restrictions, setback'
requirements, height limitations, on-site parking requirements, safety
requirements and fire code requirements.
3. Title limitations: liens, easements, special assessments and covenants.
4. Access (location): transit, highway, visual access, electricity, fire and police
protection, availability, capacities, and costs.
5. Availability: price, financing terms.
Several land sales were researched. All comparable land sales are deemed to be in the same
competitive environment as the subject property and are adjusted for their superior and inferior
characteristics. In addition a subdivision analysis for the residential portion of the subject was
performed The restricted format of the appraisal report has the raw data and analysis within my
work file. As was previously stated, the report format can be changed to a self contained or
summary report at the request of the client.
.
The land value estimate for the subject is $2.25 per SF for the commercial portion, $1.25 per SF
for the residential portion and $ .35 per SF for the wetlands area.
Description! Area I Rate per SF
Front Commercial Portion!160,240 SF $2.00
Rear Residential Portion!87,120 SF $1.40
.
Wetlands Area/14,000 SF $.35
Rounded Total 1 $447,000
.n."............
:.;.:.:.:.;.;.;.:.:.:.;.;.;.:.
::::::::::::::;:::::::::;:::::
;:;:::;:::;:;:::::;:;:::;:;:::
::;:::;:::::::;:::;:;:::;:::;:
...... .::::::.::::~.:.:.j~~jjj~~~~f1~1~Ij~~~
Extension
$320,480
$121,968
$4,900
The value conclusion of $447,000 is based upon my personal inspection and review of the
property, comparable sales, and application of the appraisal process.
Respectfully Submitted,
;::r:~~
J. Scott Renne, MAI, CAE
Page 18
CERTIFICATION
I certify that, to the best of my knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional
analyses, opinions and conclusions. No one other than the undersigned appraiser provided
professional assistance in the development of this report.
3. I have no present or prospective interest in the property that is the subject of this report,
and I have no personal interest or bias with respect to the parties involved.
.
4.
My compensation is not contingent on an action or event resulting from the analyses,
opinions, or conclusions in, or the use of, this report.
5. My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the Uniform Standards of Professional Appraisal Practice
and the Code of Ethics and the Standards of Professional Appraisal Practice of the
Appraisal Institute.
6. J. Scott Renne, MAl made a personal inspection of the property that is the subject of this
report on July 4, 2000.
7. As of the date of this report, J. Scott Renne, MAl has completed the requirements under
the continuing education program of the Appraisal Institute.
.
8.
I certify that the use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
9. This appraisal assignment was not based on a requested minimum valuation or specific
valuation or approval of a loan.
10. This report had a development process of a complete report and the report type is
restricted USP AP regulations effective July 1, 1994).
,::r ~G1it~
J. Scott Renne, MAl, CAE
Certified General Appraiser; License #4000733
Licensed through 8-31-01 by the State of Minnesota
Page 19
APPRAISAL QUALIFICATIONS OF
J. SCOTT RENNE, MAl, CAE
WORK EXPERIENCE:
Continuous employment in the real estate appraisal and consulting field since 1973. Experience
in independent, mass appraisal and litigation. Appraisals include single and multiple family
residential, land subdivisions, industrial, institutional, office buildings including high rise,
special use properties, special assessment benefits, condemnation, and contaminated properties.
EDUCATION:
Graduated from the University of Minnesota School of Business Administration in 1973 with a
Bachelor of Science Degree in Business Administration. Completed the University of St.
. Thomas Mini-MBA program in 1993.
REAL ESTATE EDUCATION:
AIREA Courses -
Urban Properties; Real Estate Investment Analysis; Litigation Valuation; Industrial
Valuation; Market Analysis; Highest and Best Use; Business Valuation; Standards of
Professional Practice; numerous seminars.
IAAO Courses -
Appraisal of Income Producing Property; Techniques of Mass Appraisal; Assessment
Administration; Instructor Workshops; Computer Assisted Mass Appraisal; numerous
semmars.
. SREA Courses -
Introduction to Appraising Real Property; Principles of Income Property Appraising;
Narrative Report Writing; numerous seminars.
University of Minnesota Continuing Education Courses -
Computer Aided Assessment; Narrative Report Writing; Residential Appraisal;
Apartment Appraisal; Assessment Laws; History and Procedures; Property Valuation
Short Courses; Business Site Selection and Analysis.
PROFESSIONAL DESIGNATIONS:
Member, Appraisal Institute; Senior Accredited Minnesota Assessor; Certified Assessment
Evaluator; Residential Evaluation Specialist. The MAl and CAE designations are the highest
professional designations in the independent and mass appraisal fields respectively.
Page 20
. 5.
6.
7.
8.
9.
. 10.
11.
12.
CONTINGENT AND LIMITING CONDITIONS
The value estimates and conclusions in the appraisal are made subject to these assumptions and
conditions:
1. The property has been appraised as free and clear of all indebtedness under responsible ownership, and
good management unless otherwise set forth in the appraisal.
2. No title search has been made and the reader should consult an appropriate attorney or title insurance
company for accurate ownership data.
3. The furnished legal description is assumed to be correct.
4. The information contained in this report is not guaranteed, but it has been gathered from reliable sources.
The appraiser certifies that, to the best of his knowledge and belief, the statements, information, and
materials contained in the appraisal are correct.
No responsibility is assumed for matters which are legal in nature. It is assumed (without survey) that the
improvements are located within the legally described property and that the buildings comply with all
ordinances except as noted.
No analysis of soil conditions was required and none has been made. All value estimates in this report
assume stable soil and any necessary soil corrections are to be made at the seller's expense.
Estimates herein are based on the present status of the national business economy, and the current
purchasing power of the dollar.
A plot plan may have been provided in this report to assist the reader in visualizing the property. We have
made no survey of the property and assume no responsibility for its accuracy.
The market value herein assigned is based on conditions which were applicable at the time the property
was inspected and may vary at a later date.
The appraiser herein shall not be required to prepare for or appear in court or before any board or
government body by the reason of the completion of this assignment without pre-determined arrangements
and agreements.
Surveys, plans and sketches may have been provided in this report. They may not be complete or be drawn
exactly to scale.
Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be
used for any purpose by any person other than the party to whom it is addressed without the written
consent of the appraiser, and in any event only with proper written qualification and only in its entirety.
13. Information in the appraisal relating to comparable market data is more fully documented in the
confidential fIle in the office of the appraiser.
14. All studies and field notes will be secured in our fIles for future reference.
Page 22
CONTINGENT AND LIMITING CONDITIONS (continued)
15. The distnbution of the total valuation in this report between land and improvements applied only under the
reported highest and best use of the property.
16. It is assumed that all applicable zoning and use regulations and restrictions have been compiled with,
unless a nonconformity has been stated, defined, and considered in the appraisal report.
17. It is assumed that there is full compliance with all applicable federal, state and local environmental
regulations and laws unless noncompliance is stated, defined and considered in the appraisal report.
18. This property is appraised in fee simple, assuming responsible ownership and management, unless
otherwise indicated. This appraisal recognizes that available financing is a major consideration by typical
purchasers of income producing real estate in the market and the appraisal assumes availability of
fmancing to responsible and sufficiently substantial purchasers of the property in amounts similar to those
indicated or implied in this report.
.
19.
We are assuming: 1) that any asbestos or urea-formaldehyde that may have been used in the building
materials in the property are in compliance with current statues and regulations and do not present a health
hazard to the public; 2) that lead based paint has not been used in a manner that would cause health
problems for the public using the property; and 3) that the property has not been the site for the dumping
of hazardous substances or is subject to radon gas. If any or all of the above conditions exist, this could
have a bearing on the market value of the property.
20. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly
authorized representatives.
21. It is assumed that all required licenses, certificates of occupancy, consents or other legislative or
administrative authority from any local, state or national government or private entity or organization have
been or can be obtained or renewed for any use on which the value estimate contained in this report is
based.
.
22.
It is assumed that the utilization of the land and improvements is within the boundaries or property lines of
the property described and that there is no encroachment or trespass unless noted in the report.
23. The forecasts, projections or operating estimates contained herein are based upon current market
conditions, anticipated short-term supply and demand factors, and a continued stable economy. These
forecasts are, therefore, subject to changes in future conditions.
Page 23
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Shorewood
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5620 County Road 19
Shorewood
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Appraisal of 6 acres of Vacant Land
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Shorewood
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Minnesota Community Profile
Page 1 of8
The MN Department of Trade and Economic Development
Community Profile
City of Shorewood
+.~
-Trade &:-
Economic
Development
www.dted.state.mn.us
Overview
The City of Shorewood is a suburban Twin Cities community located in Hennepin County on the south shore of
Lake Minnetonka. The City is primarily a residential community with limited commercial establishments.
1999 Estimate 1998 Estimate
6,955
.
Location
County:
Region:
Distance from Minneapolis:
Distance from nearest MSA*:
US Congressional District:
MN Legislative District(s):
W orId Wide Web site:
Last Updated:
Population
Area
City:
County:
Nearest MSA:
Minnesota:
Source: U.S. Census. Stale Demographer
.
Major Employers
Employer
Northern States Power Co
Minnetonka Country Club
View All Emplovers
Workforce
Total Employment
Available Workforce
Annual Average Unemployment
Employment By Industry
.
Agriculture
Construction
http://'W'WW.mnpro.comldetailp.ctin .
Hennepin
West Twin Cities Metro
20
o Miles from Minneapolis-St. Paul MSA
3
43A.. 43B ..
N/A
4/26/00
4,782,264
1996 Estimate
6,889
1,070,709
2,765,116
4,682,748
1994 Estimate
6,613
1,056,673
2,838,194
4,570,355
1990 Census
5,917
1,032,431
2,538,776
4,375,099
1980 Census
4,646
941,411
2,198,190
4,075,970
. Metropolitan Statistical Area
SIC
4911
7997
Products/Services
Electric Services
Membership Sports & Recreation
Clubs
Employee Count
90
50
Hennepin County
Hennepin County &
Adjacent Counties
1,477,318
1,506,575
1.9%
Minneapolis-St. Paul MSA
1,658,354
1,695,741
2.2%
Minneapolis-St. Paul MSA
N/A
72,026
07/16/200Q
651,568
664,198
1.9%
Hennepin County Hennepin County &
Adjacent Counties
3,431 7,681
21,317 59,185
Minnesota Community Profile
r Ull1l1\:C, Ill::;., 1\.C111 C::;I<11C
Government
Manufacturing
Mining
Retail Trade
Services
Trans., Cotnm., Utilities
Wholesale Trade
Source: ,'.IN Department of Economic Set:Urity 1000
Occupations and Wages in Twin Cities Region
.
Job Title
Accountants & Auditors
Assemblers & Fabricators
Automotive Body & Related Repairers
Bookkeeping, Accounting, & Auditing Clerks
Combination Machine Tool
Setter/OperatorlT ender
Computer Programmers
Computer Support Specialists
General Managers & Top Executives
General Office Clerks
Hand Packers & Packagers
View All Occuoations and Wa2es
Utilities
Utility Type
Electricity
Natural Gas
Wastewater
01,0:1.!.
1 1 O,&)..~
82,624 178,415
122,701 294,125
77 386
140,242 263,673
2'68,238 444,119
55,076 83,328
63,458 98,789
NIA . No Data Available
WagelHr
S 18.10
S 10.91
S 16.37
S 12.11
S 14.35
S 22.63
S 17.88
S 32.55
S 10.89
S 7.69
Utility Name
Northern States Power Co
Minnegasco
Metropolitan Council Environmental Svc
.
Water Information
Water Source:
Storage Capacity:
Pumping Capacity:
Average Demand:
Peak. Demand:
Total Water Hardness:
Industrial Water Rate:
51.45/1,000 gaL
Wells
4,680,000 gal.
267,800 gal.lday
Communications
.,
http://www.rnnpro.comldetailp.cfm
Job Title
Machine Feeders & Offbearers
Machinists
Maintenance Repairers, General Utility
Offset Lithographic Press
Setter/Operator /Tender
Packaging & Filling Machine Operators &
Tenders
Plastic Molding & Casting Machine
SerJOperlTend
Receptionists & Information Clerks
Sales Representatives
Secretaries, Except Legal & Medical
Systems Analysts, Electronic Data Processing
Page 2'of 8
1'!'1,1'+1
231,278
277,026
535
298, 107
502,311
93,850
101,836
WagelHr
S 10.08
$ 15.28
$ 13.41
$17.45
$ 9.96
$ 12.28
$ 9.84
$ 20.36
$ 12.72
$ 27.15
Utility Phone
(612) 639-1234
(612) 372-4727
(612) 222-8423
Contact
Ken Stabler
Cherie Gustafson
JeffSyme
Contact Phone
(612) 330-5834
(612) 321-5435
(612) 229-2109
Wastewater Information
Treatment Type: Mechanical Plant
Capacity of Plant:
Average Demand: 23,000,000 galJday
Peak. Demand:
Usage Charge: S65/qtr.
07/16/2000
Minnesota Community Profile
Telephone Information
Local Telephone Company:
Telephone Number:
Contact:
Telephone Number:
Digital Central Switch:
Equal Access Market:
Extended Area Service:
Custom Calling Feautures:
Customized Local Area Services:
Current Technologies:
Newspapers Information
Newspaper Name
Minneapolis Star Tribune
St. Paul Pioneer Press
Page 3 of8
us West Communications
(800) 244-1111
Karen Jothen
(612) 663-5675
Yes
Yes
Yes
Yes
Yes
ISDN
Cable TV Information
Local Company: Triax Cable Service
Telephone: (800) 332-0245
Telephone
Frequency
Daily
Daily
.
Additional Telecommunication Providers
Telecommunication Type Provider Name
Phone
Commercial Transportation & Shipping
Highway Information
Interstate Miles From City
1-394
1-494
8
7
Four Lane
MN-5
MN-7
Miles From City
2
Within
.
Other
CQ-19
Miles From City
Within
Truck Information
Truck Lines:
Truck Terminals:
Rail Information
Inter-Modal Facility: No
Inter-Modal Facility Distance:
Rail Line
Load Limit in Tons
Seasonal Limit In Tons
Load Limit in Tons
Seasonal Limit In Tons
Load Limit in Tons
9
Seasonal Limit In Tons
334
Navigable Water Information
Water Name
Depth
o
Frequency . Reciprocal Switching Distance to Main Line Passenger Service
...
http://www.mnpro.comJdetailp.cfm
07/16/2000
Minnesota Community Profile
Page 4 of8
Air Service Information
International
Name
Location
Mi/esto
Longest Runway
Length
Surface Type
Lighted
Customs
Service Type
Navigational Aids
MpIsJSt. Paul Inti. Airport
Bloomington
15
10,000 Feet
Local Regional.
Flying Cloud Airport
Eden Prairie
10
3,909 Feet
Paved
Yes
Yes
Charter, Commercial, Freight, let
Paved
Yes
No
Charter, Commercial, Freight,
let
BEACON, DME, ILS,
VORIDME
A WOSAJMNW AS,
PUBLICTV
BEACON, DME, ILS, VOR/DME
Weather Info Systems A WOSAIMNW AS, SA WRS
Major Airlines
.
American, Continental, Delta, Nort..hwest, TW A, United
Airlines, US Air
Additional Commercial Transportation Providers
Transportation Type Provider Name
Housing & Commercial Activity
Housing Information
Single Family Units:
Multiple Family Units:
Mobile Homes:
Number of Units Built Since Last Census:
Number of Residential Building Pennits for:
Value of Residential Building Pennits for:
Source: US Census. /990
.
Phone
2,000
113
5
Percentage Owner Occupied:
Median Sales Price:
Median Assessed Value:
Median Rent
Vacancy Rent:
91%
5611
5%
Commercial Activity Information
Number of Commercial Building Pennits for:
Value of Commercial Building Pemits for:
Number of Public Building Permits for:
Value of Public Building Permits for:
Retail Sales Information
Year
1996
City Sales
$10,915,513
County Sales
S14,562,375,815
Source: WV Dept. of Revenue
,
-_.._.~.. -...
http://vrww.mnpro .com/detailp.cfin
07/16i2000
.
.
Minnesota Community Profile
Business & Community Services
Financial Institutions Information
Name
View All Financial Institutions
Phone
Lodging & Meeting Facilities Information
Facility Number ofF aci/ities
Available
o
o
o
F aci/ity Size
Hotel
Motel
Conference Center
Additional Lodging & Meeting Facilities
Facility Type Facility Name
Local Medical Facilities Information
Facility Type
Clinic
Dentist
Doctor
Hospital
Nursing Home
Total Assets
Teleconferencing
Available
No
No
No
Nbr of Facilities Total Nbr of Beds
o
I
o
o
o
Name of Nearest Hospital (ifnone in city):
Miles to Nearest Hospital:
Methodist Hospital, St. Louis Park
Additional Local Medical Facilities
Facility Type Facility Name
Phone
Local Transit Information
Service
Inter-City Bus
Intra-City Bus
Available
Yes
Yes
Service
Taxi/Cab
Disabled Transportation
Local Transit Providers
Transit Type
Telemedicine Available
Name Phone
Library Information
Name
Excelsior Library
Metropolitan Regional Library
Page 5 of8
Capital as % of Assets
Teleconferencing
Available to Public
No
No
No
Phone
Telemedicine Available
No
No
No
No
No
Available
Yes
Yes
Phone Internet Access
Yes
No
Worship Information
..
Worship Type
Worship Name
http://www.mnpro.com/detailp.cfin
Phone
Membership
07/16/2000
Minnesota Community Profile
Page 60f8
Recreation Information
Facilities
The City of Shorewood has five parks totalling approximately 90 acres. Our parks offer picnic areas, playground
equipment, tennis courts, ball fields, basketball COurt, walking trails and ice skating. Our beach is open from Memorial
Day to Labor Day.
,.
F estival/ Arts
Service Organizations
.
Education
Post-Secondary Information
Nearest Technical College & Specialty Location Miles To
Hennepin Tech College - Eden Prairie Eden Prairie 10
Advertising, Applied & Commercial Art, Automated Machinery: Packaging, Automotive Technician,
Com!" Pro/Operator, Cornp Supp & Networking, Electronics Technology, Environmental, Fluid POUler,
HV AC-Heating, Vent & AC, Industrial Energy Systems, Laser Electro-Optics Technology, Mach
TooVCNC, Office Management, Plastics Technology, Welding
Nearest Community College & Specialty Location Miles To
Normandale Community Colle~e Bloomington 15
Acctg., Bookkeeping & Related, Computer Science, Dental Assisting, Dental Hygiene, Hospitality Mgmt.,
Law Enforcement/Criminal Justice, Mechanical Design Technology, Nursing, General, Office Supervision
& Mgmt.
Nearest Public College/University & Specialty
University of Minnesota
Location
Minneapolis
Miles To
20
.
Nearest Private College/University & Specialty
University of St Thomas
Location
St. Paul
Miles To
20
Telecommunications Use Available at Area Post-Secondary Institutions:
No
Local K-12 Information
School Type
Elementary
Middle School
Junior High
Senior High
PrivatelParochial
Nbr of Schools
1
Enrollment
596
Grades
K-6
Pupil/Teacher Ratio
24:1
School District
Telecommunications Use Available at Local K-12:
High School Graduates Attending Post-Secondary:
State Wide Average:
Yes
81%
65%
..
http://www.mnpro.comldetailp.cfin
07/16/2000 .
Minnesota Community Profile
Education Type
Name
Government
Structure Information
Organization:
Budget:
City Bond Rating:
Comprehensive Land Use Plan:
Locally Controlled Loan Program:
Recycling:
Fire Insurance Rating:
Industrial Plans Approved By:
.
Public Protection Services
Service Type Regular
Fire 1
Police 15
Sheriff
EMT
Property Taxes
Property Tax Information
Municipal Tax Rate
County Tax Rate
School Tax Rate
Misc. Tax Rate
Total Tax Rate
17.43%
37.27%
76.34%
7.92%
138.96%
Phone
Mayor\Council
$10,241,909
Moody's - - Al
Yes
No
Yes
5
Unknown
Part-Time
30
2
Volunteer
Seasonal
Page 70f8
Minnesota commercial real estate taxes are based upon market value of taxable property as set by the local assessor. To
compute the tax for the year 2000, first compute the tax capacity by multiplying all property value up to $150,000
times .024, plus any value over $150,000 times .034. Ta.x capacity times the tax rate equals taxes owed. In some
localities where voters have approved referendums, an additional referendum tax must be added, calculated by
multiplying the referendum tax rate times the total market value of the commercial property.
.
Industrial Sites
Building Name
Address
City, State Zip Code
Highway 7 and Vine Hill
19245 Highway 7
Shorewood, MN 55331
Land Site
Address
City, State Zip Code
http://www.mnpro.com/detailp.ctin
2
Assessed Market Value Information
Commercial $10,562,200
Residential $503,256,800
Other
Total $513,819,000
Type of Building
Total Bldg Sqft
Total Available
Office
2,500
250
Contact Name
Organization
Phone Number
I Court MacFarlane
(952) 448-8818
Space Available
Build To Suit
Zoning
Contact Name
Organization
Phone Number
I fU I
Photo
I~I
~
~
07/16/2000
.
.
Minnesota Community Profile
Economic Development Services
Economic Development Authority: No
Housing Redevelopment Authority: No
County Development Corporation: No
Chamber of Commerce: No
Port Authority: No
Contact Information
James Hurm
City Administrator
Shorewood, City of
5755 Country Club Rd
Shorewood. MN 55331-8927
(612) 474-3236
Incentives
Robert Bean
Mayor
Shorewood. City of
5755 Country Club Rd
Shorewood, MN 55331-8927
(612) 474-3236
Economic Development Organizations
Type Name
Phone
Page 8 of8
Brad Nielsen
Planning Director
Shorewood, City of
5755 Country Club Rd
Shorewood. MN 55331-8927
(612) 474-3236
Far
Copyright e 1999 Minnesota Deal. of Trade and Economic Develooment
Infonnation in this system is deemed reliable. but is not guaranteed.
Read Full Disdaimer - Contact Us
~
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07/16/2000 ..
Demographics
Page l.of3
lJlA1at's New Research Government Site Index Home
Meetings Directories CSC Search Sign On
Publications Education About I Help! Messages
Demographics
"
. 5620 COUNTY ROAD 19 - EXCELSIOR, MN55331
Demographics Page 2 of3
o Age under 4 6.27% 8.33% 9.06%
o Ages 5 to 9 8.79% 8.01% 8.28%
o Ages 10 to 14 7.49% 6.53% 7.00%
o Ages 15 to 17 3.74% 3.45% 3.90%
o Ages 18 to.20 3.11% 3.09% 2.91%
o Ages 21 to 24 3.58% 3.73% 3.72%
o Ages 25 to 34 18.64% 19.31% 19.60%
o Ages 35 to 54 31.59% 31.69% 31.58%
o Ages 55 to 64 8.28% 7.90% 6.96%
o Age 65 and over 8.51% 7.97% 6.99%
1990 Household Characteristics
Summary Data
. o Total Households 1,350 7,396 21,441
o Total Families 1,020 5,486 16,451
o Household Population 3,793 19,468 58,338
o Average Household Size 2.81 2.63 2.72
(,) Median Household Income $47,085 $50,739 $51,565
o Average Household Income $58,484 $68,003 $66,004
o Aggregate Hhld Income ($000) $78,925 $502,950 $1,415,182
(,) Per Capita Income $20,805 $25,716 $24,099
Households by Income
0<$5,000 2.12% 1.44% 1.31 %
. 0$ 5,000 to $ 9,999 3.12% 3.66% 3.18%
o $ 10,000 to $ 14,999 2.77% 3.20% 3.29%
0$ 15,000 to $ 24,999 11.27% 11.08% 10.37%
0$ 25,000 to $ 34,999 12.32% 11.11% 10.97%
0$ 35,000 to $ 49,999 23.75% 20.09% 20.27%
0$ 50,000 to $ 74,999 21.05% 22.25% 25.47%
0$ 75,000 to $ 99,999 12.04% 11.42% 11.16%
0$100,000 to $149,999 5.57% 7.91% 7.74%
0$150,000 or more 5.97% 7.83% 6.25%
Year Household Moved into Unit
(,) Universe:Occ Housing Units 1,379 7,319 21,366
.
01985 to March 1990 45.49% 54.14% 55.97%
http://duke.extendthereach.comlmapinfotarget/TargetProISAPLdll
07/16/2000
..n ~.. .__
r" , Demographics Page 3 of3
o 1980 to 1984 14.70% 13.78% 14.22%
o 1970 to 1979 19.33% 16.79% 17.03%
01960 to 1969 10.36% 8.26% 7.38%
," o 1959 or Earlier 10.12% 7.03% 5.39%
.
1
I
I
Household Size
o 1 Person 17.99% 20.26% 17.78%
(,) 2 Persons 36.65% 33.54% 32.87%
o 3 Persons 15.78% 19.36% 19.34%
o 4 Persons 18.68% 17.89% 19.62%
o 5 Persons 7.34% 6.99% 8.21%
o 6 Persons 3.03% 1.55% 1.65%
o 7 Persons or more 0.53% 0.41% 0.52%
'. Structure Characteristics
o Median Monthly Mortgage $1,053 $1,165 $1,097
o Median Home Value $125,355 $145,791 $133,647
o Median Rent $543 $594 $607
PcMred By . Paweted 'By
tlIMapMarker AlkeCate
i.
For more information please call SRC (714) 516-2400
Copyright <0 1998 SRC, LLC. All Rights Reserved.
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07/16/2000
CITY OF
SHOREWOOD
5755 COUNTRY CLUB ROAD · SHOREWOOD. MINNESOTA 55331-8927 · (952) 474-3236
FAX (952) 474-0128 . www.cLshorewood.mn.us · cityhall@cLshorewood.mn.us
MEMORANDUM
.
Date:
To:
From:
Re:
August 10, 2000
..
Honorable Mayor and City Council Members
Larry Brown, City Engineer ~rL/
Bonnie Burton,Finance DirectorfTreasurer (f;7 r ·
5-Year Capital Improvement Plan (CIP) - Council Work Session
The Capital Improvement Plan revisions are in process and will be available for
council review and discussion at the work-session scheduled for Monday, August
14, 2000.
.
Following the work-session, staffwill incorporate any changes and return to the
council on August 28, 2000 with the final version for certification. Please advise
if you have questions or if we can be of further assistance.
1Ft
..
t.J PRINTED ON RECYCLED PAPER
CITY OF
SHOREWOOD
5755 COUNTRY CLUB ROAD · SHOREWOOD. MINNESOTA 55331-8927 · (952) 474-3236
FAX (952) 474-0128. www.cLshorewood.mn.us. cityhall@cLshorewood.mn.us
MEMORANDUM
.
Date:
August 10,2000
To:
Honorable Mayor and City Council Members
From:
Bradley J. Nielsen, Acting City Administrato':a.' '.' / -
Bonnie Burton, Finance Director/Treasurer ~/~
2001 Draft Budget - Council Work Session 8/14/00
Re:
.
The first draft ofthe 2001 Operating Budget is in process and will be available for
council review and discussion at the work-session scheduled for Monday, August
14,2000. The budget is being prepared according to priorities and programs the
Council has identified. It is our primary purpose to arrive at a preliminary levy
for year 2001, which must be certified to Hennepin County by September 15.
Following the work-session, staffwill incorporate any changes and return to the
council on August 28, 2000 with the final version for certification. Please advise
if you have questjons or if we can be of further assistance.
~~ PRINTED ON RECYCLED PAPER
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