05-09-88 Bd of Review
CITY OF RICHFIELD, MINNESOTA
Council Letter No. 115
Agenda May 9, 1988
Issue Statement:
Reconvening of the 1988 Board of Review.
Background:
On May 2, 1988 the 1988 Board of Review was continued to
5:30 p.m. May 9, 1988. The continuance was to provide staff an
opportunity to prepare additional information on six appeals
presented on the evening of May 2. The Board directed applicants
whose cases were continued to provide background data relevant to
their appeal to the appraiser on Tuesday morning. Some of that
information has been received as late as Thursday morning. Thus,
Mr. Miller will have a very difficult time providing background
data to Board members prior to Monday evening.
Recommendation:
Reconvene the Board of Review at 5:30 p.m. and take action based
on the information presented at the hearing.
Basis for Recommendation:
1. Reconvening of the Board has been scheduled publicly.at
• the May 2 meeting.
2. Information needed for the Board to make a determination
on the remaining appeals will be available at or prior to
the hearing.
3. The Board of Review must conclude its business within 20 days
of May 2, 1988.
Alternative Recommendation:
None
Discussion/Decision Mode:
It would be desirable to conclude the proceedings of the Board of
Review on May 9, 1988.
Respectfully submitted,
James . Prosser
City Manager
JDP:sb
5:30 p.m. Garfield Hoversten, 7000, 6520, 6528 & 7244 Cedar
0 Ave. S.
5:30 p.m. Don & Mary Erickson, 7116 Cedar Ave. S.
5:30 p.m. Jim Marty, 7428 Lyndale Ave. S.
Judy Sarff, 6745 Elliot Ave. S.
John Prest, Park Inn Hotel, 7640 Cedar Ave.
Raleigh Nelson, Burger King, 140 East 78th St.
ADDRESS 7000 Cedar Avenue South
P.I.D. # 35-028-24-11-0009
PROPERTY DESCRIPTION
Number Units 25
Story Height 8
1st Floor Area 8131 Sq.Ft.
Gross Bldg. Area 94353 Sq.Ft.
Number Baths )5
Type Construction Frame
Exterior Finish Rrir k
Fireplaces --
Bath Tile: Ceramic
Plastic
Year Built 190
Area Rating AworanP
Building Condition Averaoe
Construction Class Average
Garages --
Air.Conditioning wa11 fmitc.
MARKET DATA
Sale Amount . . . . . . . . $
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Unit $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation %
Capitalization Rate %
Type Units & Rent Schedule:
7 - 1 Bedroom
18 - 2 Bedrooms
(100%,Occ.) GROSS ANNUAL INCOME $
COMMENTS:
SUBJECT PROPERTY
l3-Ir- *3
Fiie2 Z.GV.67.RDLL
Report: RENT .ROLL
IL APT 4 BR RENT HRA TOTAL
7000
101
2
460 ------
460
%i )ijl i 102 2 13C) 367 497
-1000
103
1
3YO
390
?000 104 2 99 383 482
7000 105 2 121 374 495
7000 106 199 298 497
7000 107 2 495. 495
7000 201 2 495 495
7000 202 116 369" 505
7000 203 1 395 395
7000 04 1 395 39
7000 205.. 1 389 389
7000 206 2 162 335 497
70W 207 465 465
710001 208 2 495 495
7000 209 2 369 1 1 1 491
7000 i 301 480 46o
7000 302 3' 480 481
7000) 303 1 395 395
7000 it i 304 1 315 395
7000 305 1 395 3?5
7000 306 2 339 141 480
700o 3o7 2 45Y0 490
,00 308 2 49 49`,
00 309 2 495 495
9159* 398, 11567),
Page
l ?r b Z / 1 d700Q
7000 Ced-ire
0
A
I?
SUBJECT PROPERTY
ADDRESS 6520 Cedar Avenue South
P.I.D. # 26-028-24-14-0056
PROPERTY DESCRIPTION
Number Units 12
Story Height
1st Floor Area 3168 Sq.Ft.
Gross Bldg. Area 9504 Sq.Ft.
Number Baths 12
Type Construction Frame
Exterior Finish Brick
Fireplaces
Bath Tile: Ceramic
Plastic
Year Built 1263
Area Rating Avaraga
Building Condition n„ara9P
Construction Class 4?iEar?ye
Garages Air Conditioning Wall iin rc;.
MARKET DATA
Sale Amount . . . . . . . . . $
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Unit $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation %
Capitalization Rate %
Type Units & Rent Schedule:
11 - 1 Bedroom
1 - Efficiency
(100%,Occ. ) GROSS ANNUAL _INCOME $
COMMENTS :
0
ru 1 LL" AF T # BR TO I AL
-----
c. " ;; --
1 --- -- --
1 -----
99
3
'/ J- /
C?
?ll? Z6 ?PZoo 2511Y Oo
.
c_."
1
379
652,710 3 1 349
0520 4 S 339
754 i
520 5
b 1
1 399
349 I p
C e
) -
?
6 2
0 7 1 399 v
?
6.?
°2?;ai
8
1
399
l5
0520 9 1 399
65-70' 10 1 399
6:20 11 1 399
6520 12 1 379
6.°' 1
GJt
65.216
6528 4
6 528 5
6--528 , 6
6526 7
0528 $
6`28 9
6528 10
6528 11
6528 12
1
1
1
S
1
1
399
399
37
329
;399
399
399
399
390
380
?pl?? Z6 oZf?Zfl/??as
744 100
7244 101
2,44 102
7244 103
744 104
7244 105
1244 201
724.1 202
7244 203
7244 204
7244 205
7244 200
`1244 301
744 302
1244 303
"r:44 3?>4
7-44 305
/244 306
E
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
389,
4660
339
480
449
499
499
49" i
499
459
496
499
479
499
49
9
479
499
497
499
809
179(j7*
A
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.
SUBJECT PROPERTY
ADDRESS 6528 Cedar Avenue South
P.I.D. # 26-028-24-14-0055
PROPERTY DESCRIPTION MARKET DATA
Number Units
Story Height R
1st Floor Area ?iAR Sq.Ft.
Gross Bldg. Area Sq.Ft.
Number Baths
Type Construction Frame
Exterior Finish Brick
Fireplaces --
Bath Tile: Ceramic
Plastic
Year Built 1963
Area Rating Average
Building Condition Average
Construction Class n"Pra9P
Garages
Air Conditioning ?a 1 1 urn i t s
Sale Amount . . . . . . . . . $
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Unit $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation %
Capitalization Rate %
Type Units & Rent Schedule:
11 - I_ Bedroom
1 - Ffficienrv
(10M Occ.) GROSS ANNUAL INCOME
$
COMMENTS :
0
L . tH.01 MULL
rt: REN'T\.RDLL
E,UiLU AFT 4 BR 0 T A
G_ 'i 1 1 3 i9
c 5?! 1 37i
6 _ii0 1 349
X20 4 S 339
0 5 1 399
6`20 b 349
6521; 7 1 399
6520 8 1 ?
1?lv z6 -bzB-Z?/?QO?
?le?/'age
651`2 0 9 1 399
65-20 10 399
65! i 11 1 399
6520 2 1 379
6_,'28 1 1 395 7,6OZOTi?`?7'?U
6526 2 1 399
6 `218 3 1 3T
6`126 4 5 329
6528
652s, 5
6 1
2 399
3y9 C C?
? S
6528 7 1 399
6528 8 1 399
65*22 8 9 1 390
6528 10 1 380
.
658 11 1 399
6528 12 1 389
4' ' i1
z$ ??j?oo7?
?
7344 100 2 339 3S
o
44
7
101
2
480 p
244 102 2 449
7244 103 2 499
744 104 2 499
7'44 105 2 490
11:44 2i?1 499
7244 202 2 459
7244 w3 2 496
+'44 204 2 49
72 205 2 79
7244 6 499
`r::44 30 499
7244 02 2 495
72 4 303 2 479
44 304 ? 49y
7244 305 2 4y/
7'244 306 499
c^
?6_?y
17907
1-1
A
ADDRESS 7244 Cedar Avenue South
P.I.D. # 35-028-24-14-0074
PROPERTY DESCRIPTION MARKET DATA
Number Units 18
Story Height R
1st Floor Area 5613 Sq.Ft.
Gross Bldg. Area 16839 Sq.Ft.
Number Baths ?R
Type Construction Crama
Exterior Finish Brick
Fireplaces- --
Bath Tile: Ceramic
Plastic
Year Built 1965
Area Rating Averaae
Building Condition Average
Construction Class nvaraQP
Garages
Air.Conditioning Wait i?nirc.
Sale Amount . . . . . . . . . $
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Unit $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation %
Capitalization Rate %
Type Units & Rent Schedule:
1 - Efficiency
17 - 2 Bedrooms
(1007., Occ.) GROSS ANNUAL. INCOME $
COUNTS:
SUBJECT PROPERTY
r :1 ,:- Z . TCA .8 . ROLL
ti i? tyr r # c:ri I U I riL
---- ----- -- -------
1 399
Page
1-e #
?J
a2'
2'3 1 a
1 vii
389
4660
- -
S Q Z DO 7
??
?
344 100
' 2' 339 TT? ? 3
?y D
v
344 101 480
7 44 102 3 449
72'44 103
72'44 14 !;4 2'
2' 499
499 -7 A l.t
_l
7.44• 105 2' 490
I44l?1 499
7224"t 2'02 c 459
72'44 203 2' 496
7344 2'04 2 499
7:'=14 05 479
7 44 20' 2 499
r 44 301 499
2'44 302' 2' 499
7344 0- ?3 3 479
344 3Qat 4?iy
r 44 305 3 4y l
7 244 306 2' 499
b6
179t7*
SUBJECT PROPERTY
ADDRESS 7116 Cedar Avenue South
P.I.D. # 35-028-24-11-0015--
PROPERTY DESCRIPTION
MARKET DATA
Number Units 7
Story Height 8 ft.
1st Floor Area 2268 Sq.Ft.
Gross Bldg. Area 4536 Sq.Ft.
Number Baths 7
Type Construction Frame
Exterior Finish 4t??rrn
Fireplaces --
Bath Tile: Ceramic
Plastic X
Year Built 1959
Area Rating A%icrn9c
Building Condition Aver4p
Construction Class A yPraoa
Garages 7
Sale Amount
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Unit $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation %
Capitalization Rate _ %
Type Units & Rent Schedule: 7 - 1 BRs
C-- Attnr6ad
Air. Conditioning W*. n Ar%w 1 1n i t c
(1007.?Occ.) GROSS ANNUAL INCOME $ 31.620
COMMENTS :
7 nit apartment building with seven garages
Average si7P = 648 sq ft -
5g.o? '711
CE?i f?2 Lie. So
.
I?l G14FCGD M AI
I
S 14 SAnI tic SDAJ ?'3 ?S
l3IE? C1a0T-t' 3 D
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# 11L^W
J OHIJ
a 7 VO(Att rj- _ -r37 5
13 C G? pL nV/t%DoIC _ Ai S?
Rig/
?? ? ^??NCc17 //-/04?
l 02 ?!?!J!J S - Y?? ??L GOOD./
A
SUBJECT PROPERTY
ADDRESS 7428 Lyndale Avenue South
P.I.D. # 33-028-24-41-0004
PROPERTY DESCRIPTION MARKET DATA
n 1i
Number Units 18 Sale Amount . . . . . . . . . $
Story Height 8 ft. Sale Date
1st Floor Area 5451 Sq.Ft. Sale Terms
Gross Bldg. Area 16744 Sq.Ft. Sale Analysis:
Number Baths tR Gross Rent Multiplier
Type Construction Frames Sale Per Unit $
Exterior Finish Brick Sale Per Sq.Ft. G.B.A. $
• Fireplaces -- Sale Per Sq.Ft. N.R.A. $
Bath Tile: Ceramic Building Depreciation %
Plastic Capitalization Rate %
Year Built 1860 Type Units & Rent Schedule: 12 - 1 BRs
Area Rating Average See attached 6 - 2 BRs
Building Condition AvPra9e
Construction Class A.,Pra3p
Garages --
Air.Conditioning Wall units
(10M Occ.) GROSS ANNUAL INCOME $ 3.520
COMMENTS :
0
zyma% ao?ie¢f s o.
. 2201 E. 6TH ST.
SIOUX CITY. IOWA 51105
January 1986
E
101 Weiser
102 Erdman
103 Seifert
104 Wilson
105 Speilman
106 Prybilla
201 Armstrong
202 Seiler
203 Caretaker
204 Graff
205 Wiedemeir
206 Lien
301 Swarthout
302 Hokznson
303 Johnson
304 Schrazn
305 Job
306 Dungey
$350.00
350.00
400.00
350.00
350.00
400.00
355.00
355.00
360.00
355.00
405.00
355.00
355.00
405.00
355.00
355.00
405.00
January 1987
0
101 Weiser
102 Erdman
103 Seifert
104 Disney
105 Dellring
106 Prybilla
201 Muth
202 Gohrman-Olson
203 Caretaker
204 Graff
205 Theil
206 Lien
301 Swarthout
302 Hokznson
303 Armstrong
304 Schraan
305 Job
306 Dungey
365,00
365.00
415.00
365900,
375.00
415..00
375.00
375.00
370.00
375.00
420.00
370.00
370.00
420.00
375.00
370.00
420.00
(o S '-4 U
?4b o
8 3 Sd b Por G c oss
U
& >r
APPLICANT'S COMPARABLES
GRID - COMPARABLE DATA
APPLICANT'S NAME: Robert and Judy Sarff
ADDRESS: 6745 Elliot Avenue South
PROPERTY ADDRESS: 6745 Elliot Avenue South
P.I.D. 26-028-24-31-0082
MUNIC: Richfield
SUBJECT 6300 Pillsbury 6332 1st 6420 Stevens 6326 15th
PROPERTY COMP #1 COMP A2 COMP3 COMP ;4
TYPE OF BLDG.:
STORY HEIGHT: 14 14 14 14 l
1ST FLOOR AREA: 982 1088 1080 856 797
GROSS BLDG. AREA: 1227 1298 1284 1070 1195
YR.`OF CONST.: 1948 1941 1948 1950 1938
CONDITION: Avg. Avg Avg Avg Avg
1ST FL. ROOMS: 5 5 5 5 4
2ND FL. ROOMS: 1 1 2 2 2•
BEDROOMS: 3 3 4 4 3
BATHS: 1 1 1 1 1 3/4
HALF BATHS: -- 1'
0IN. BSMT. SQ.FT.: 295 217 324 256 0
WALKOUT:
FIREPLACE: 1 2 1 1 1
AIR COND: Yes No No No No
GARAGE AREA: 990 240 280 484 336
PORCH AREA: 180 EP 80 EP -- -- 120 SP
LOT SIZE: 70 x 131 77 x 133. 80 x 126 75 x 136 50 x 135
COMPS-SALE DATA:.
SALE DATE 10/87 1/87 11/87 1/88
SALE PRICE 78,500 82,400 77,900 78,300
SALE/SQ.FT. 72.15 GF 76.30 GF 91.00 GF 98.25 GF
SUBJECT-ASSESSMENT DATA: 60.45 GB 64.15 GB 72.80 GB 65.50 GB
1988 ASSESSMENT 85,800
ASSESSMENT/SQ.FT. 87.35 GF
REMARKS: 69.90 GB
C
•
L.
SUBJECT PROPERTY
ADDRESS 7640 Cedar Avenue South
P.I.D. # 3s-02R-74-44-0004
PROPERTY DESCRIPTION
Year Built 1963
Condition Average
Size of Building:
1st Floor Area 3s,s82 Sq.Ft.
Gross Bldg. Area (G.B.A.) 47,(;06 Sq.Ft.
• Net Rentable Area (N.R.A.) Sq.Ft.
Type of Construction Framo/Rrirle-Ctiirrn
Type of Use:
Basement
1st Floor HntPl F. RPCtaiirant
Upper Floors HntPl
Air Conditioning Y s
Elevator(s) Fraight Flevatnr
Other
MARKET DATA
Sale Amount . . . . . . . . . .
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Sq.Ft. 1st Fl. Area $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $
Building Depreciation
Capitalization Rate
Rent Schedule:
Land Area s8,806 sq. ft.
Zoning
(100`; Occ. ) GROSS AN a- 1 INCOME S
C O?M.% E*lT S :
U
I
8,
vs
SUBJECT PROPERTY
ADDRESS 140 E 78th St. Burger King
P.I.D. #34-028-24-43-0005
PROPERTY DESCRIPTION
Year Built 1975
Condition Good
Size of Building:
1st Floor Area 4?0 Sq.Ft.
Gross Bldg. Area (G.B.A.) 3-q20 SO-Ft.
• Net Rentable Area (N.R.A.) Sq.Ft.
Type of Construction Conc Blk./Brick
Type of Use
Basement --
lst Floor Fast Food Restaurant
Upper Floors --
MARKET DATA
Sale Amount . . . . . . . . •
Sale Date
Sale Terms
Sale Analysis:
Gross Rent Multiplier
Sale Per Sq.Ft. 1st F1. Area $
Sale Per Sq.Ft. G.B.A. $
Sale Per Sq.Ft. N.R.A. $__
Building Depreciation
Capitalization Rate %
Rent Schedule:
Air Conditioning yt-
Elevator(s)
Other
Land Area 40.275 sq. ft.
Zoning (100`: Occ. ) GROSS_ AN''al, INCOME S
C OM. _%E,.4 T S :
0
• CITY OF RICHFIELD, MINNESOTA
Council Letter No. 114
Agenda, May 2, 1988
Issue Statement:
Convening of the 1988 Board of Review.
Background:
The 1988 Richfield Board of Review is scheduled for Monday, May
2, 1988 at 7:00 p.m., in the council chambers of City Hall. As
provided by City charter, the Board of Review consists of the
Mayor, Council Members, and two citizens appointed by the City
Manager with confirmation by the City Council. Mr. Lawrence
Emond and Mr. John Janski were recently appointed to serve on the
1988 Board of Review.
The duties and responsibilities of the Board of Review are
established by state law. In general, it is the Board's
responsibility to hear appeals by property owners from the
Estimated Market Values established by the city assessor and to
determine if market values should be adjusted. The appeals
typically concern market values rather than tax rates or other
concerns which property owners may bring up to the Board.
Each parcel of property in Richfield has had an Estimated Market
Value (EMV) set as of January 2, 1988. Overall, residential
• property values increased by approximately 5% from 1987 values.
Properties which were physically reappraised received reductions
and increases, but were generally increased. Properties which
were not physically reappraised received statistical adjustments
based on the characteristics of the property.
For the seventh year, the Richfield property assessment has been
conducted through a contract with Hennepin County which is
supervised by the Administrative Services Department. Staff
works closely with the Hennepin County property appraisers to
ensure that the local assessment complies with the provisions of
the law. For example, the Administrative Services Director
verifies that the number of on-site properties appraised for 1988
exceeded the standard (25% of total properties in the City)
established by law.
In addition, the median ratio, (comparing Estimated Market Value
to sales price) for Richfield's 1988 Assessment is 92.5%. The
County Auditor's suggested level of assessment (median ratio )
for all municipalities in Hennepin County is 92.5%. Thus, the
Richfield local assessment is on target with comparable Hennepin
county communities.
In April, property valuation notices were mailed to all property
owners showing the 1988 Estimated Market Value. The notices
advised property owners to contact the city assessor's office
regarding any questions or to schedule an appearance before the
Board of Review if the property owner desired to challenge the
EMV. About 472 inquiries have been received to date, as compared
to 250 last year. Some resulted in adjustments by the assessing
staff.
The City has received four notifications of appeals to the Local
Board of Review. All of these individuals indicated that they
will appear before the local Board.
A list of the property owners who are appealing their EMV is
attached to this council letter.
Any adjustments made by the Richfield Board of Review will be
recorded on the property assessment rolls. After appearing at
the local Board, property owners may subsequently appeal to the
Hennepin County Board of Review, and then to the State Board of
Review and/or the State Tax Court.
Recommendation:
It is recommended that the Board of Review convene at 7:00 p.m.
on Monday, May 2, 1988'and conduct the business scheduled for the
Board.
Basis of Recommendation:
1. State Statute and City Charter mandate a Board of Review
Hearing each year to be conducted before May 31, 1988.
• 2. The City Council has established Monday, May 2, 1988 at 7:00
p.m. as the date and time of the Board of Review Hearing
for 1988.
3. Notice of the hearing has been published (April 20th) and
posted pursuant to law.
Alternative Recommendation:
None
Discussion/Decision Mode:
The hearing is likely to be conducted and completed on May 2,
1988. However, if it becomes necessary, the meeting could be
continued to a future date in June.
Respectfully submitted,
Jam D. Prosser
City Manager
JDP/sae