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Home My WebLink About7C - Habitat for Humanity OO~ PRio~, A- ~ f.." ~ U ~ t'21 ~lNNESO~~ 4646 Dakota Street S.E. Prior Lake, MN 55372-1714 MEETING DATE: AGENDA #: PREPARED BY: AGENDA ITEM: DISCUSSION: CITY COUNCIL AGENDA REPORT JUNE 15, 2009 7C DANETTE M. PARR, COMMUNTIY DEVELOPMENT AND NATURAL RESOURCES DIRECTOR A PRESENTATION REGARDING HABITAT FOR HUMANITY Introduction The purpose of this agenda item is to share new information and to follow-up with the City Council regarding a possible opportunity for the City to partner with Habitat for Humanity for the future construction of a residential home on City-owned property located at 3631 170th Street (location exhibit attached). Historv As the Council may recall, in 2007 as part of the CR 12 project from TH 13 to Walnut Avenue the County acquired 3631 170th Street SW (CR 12) for the extension of Elm Avenue to the Stonebriar Development. The City and County previously approved an Access Management Plan with MNDOT that limited the access to the Stonebriar property. This Agreement was required in order to receive $850,000 in funding from MNDOT for the project. The total cost of acquisition including consultant fees was $375,000. After splitting the parcel to create the needed right-of-way, there was still a 14,566 square foot lot remaining on the corner. As part of a Cooperative Agreement the County conveyed the property to the City. The County also deferred the City's contribution to the right of way acquisition detailed above until the City sold the property or as part of the phase two CR 12 project scheduled to begin in 2010. The Cooperative Agreement details that the City will owe the County $100,000 at the time it sells the property, or at the time of phase two of the CR 12 project, in acknowledgement of the fact that the County paid 100% of the acquisition costs of the lot for right of way. On April 20, 2009, Habitat for Humanity made a presentation to the City Council. While most of the Council generally supported the concept of partnering with Habitat for Humanity, there were comments provided which indicated the following: · Great care would need to be taken to integrate the future home with the existing design and character of the adjacent neighborhoods. · Considerations would need to be looked at further to evaluate any legal concerns related to legally transferring or selling the land to an end user. · The value of the lot should be established to determine if compensation should be considered as part of any future land transfer. www.cityofpriorlake.com .Pla<?nel.95Z>~~7.;,9,SOO, /Fq.x962A47 .4245; I Current Circumstances Since the April 20 Council meeting, City staff has been made aware that Habitat for Humanity is considering utilizing an existing home by moving it from a site to 3631 170th Street. The subject home is currently located within the Bluffs of Northwood Meadows development (16046 Tahinka Place) in Prior Lake. When the Council considered the concept previously, it was for a newly constructed structure. Staff would like feedback as to whether this makes the proposal any more or less desirable by the Council (elevations attached). Chad Dipman, Land Acquisition Project Manager for Habitat for Humanity, will make a presentation at the Council meeting, sharing information about the reasons Habitat for Humanity is considering the reuse of an existing structure versus new construction and will also be available to answer questions. ISSUES: At the April 20 Council meeting, some of the questions discussed included the following: What would the residential structure look like? It was previously discussed that if the project were to move forward, the design of the house would need to be reflective of the adjacent neighborhood and have architectural elements similar to the facades that make up the adjacent Stonebriar neighborhood. Since the Council's previous discussion, Habitat for Humanity has provided elevations showing what the proposed design of the house would look like if an existing Prior Lake home were reused (from 16046 Tahinka Place). The 70's style home would be resided, a front stoop/porch added, and interior improvements made. No design has been provided showing what a possible new construction home would look like. The Council will need to consider how the reused home would look in respect to the architecture of the adjacent homes and how it does or doesn't fit with the character of the surrounding neighborhood. Are there legal concerns regarding the transfer of City-owned land? If the City did decide to transfer the subject land to Habitat for Humanity, there do not appear to be any legal concerns. However, as other Scott County communities have done previously with land transfers between the City and Habitat for Humanity, the City would transfer the land to the Scott County CDA (Community Development Agency) and they would transfer the land to Habitat for Humanity. Staff has spoken with Bill Jaffa, Executive Director of the Scott County CDA, and they have agreed to facilitate the process if the City wishes to proceed in this manner. What is the value of the lot at 3631 17dh Street? Staff requested that Habitat for Humanity have an appraisal conducted on the lot at 3631 170th Street. The appraisal (attached) valued the site at $58,000. Staff also contacted Michael Thompson, appraiser, with the Scott County Assessors Office who considered the site in relation to other comparable sites and came to the conclusion that if the City wanted to sell the lot in today's market, the City could ask for $40,000 to $50,000. FINANCIAL IMPACT: As part of the 2010 CR 12 project, the City will be reimbursing the County for the right of way. The 2010 Project has identified full funding for the $100,000 reimbursement. If the property is sold, any proceeds would be required to go back into the Street Oversize Fund. ALTERNATIVES: 1. Provide direction to the Staff regarding this proposal, including any preferences toward new construction versus the reuse of an existing structure, and identification of any concerns the Council may have. 2. Direct that the parcel to be sold to recoup a portion of the right of way investment cost (any recouped proceeds would be directed to the Street Oversize Fund). Any directives related to transfer or sale of City property requires that the item be referred to the Planning Commission for them to determine whether the acquisition or disposal of the property is consistent with the City's Comprehensive Plan. If a motion is made related to the subject property, it should include a directive to refer the matter to the Planning Commission. RECOMMENDED Alternative 1. MOTION: ReVie~~~ AA Frank Boyles, ~an,er HABITAT FOR HUMANITY SUBJECT SITE Feet 200 300 400 III III - l , ~IIIIIIIIIIIII.. Dr ~ ~ ,111111111~llrlill ~~ L llll, ,1\\) ,.~ r--o, I, -II. ~ :== 1,- . II ~ IIII,J i'~IIII~' 1/ , Ii V IIIII rl ,I rill ]V I111111111111111 / 11 TWIN CITIES HABITAT for HUMANITY 3001 4TH ST. SE ~ rw:oali~ MINNEAPOLIS. MN 55414-3301 :;:)i(:;:: Habitat ~, " lor Humill1lty9 ""i.",,,...., OFFICE: 612-331-4090 FAX: 612-331-1540 1IIIIIIIIIIIrnrl n~ , : : I II I I "'r I ~ qj " " " ''''''I'' m-f "'m (J)",r .m ~~ -, 5 z LII ,I, " , , , , , 11I1111111111111111111;1 \ , I I ;. ! I II!: ~II ~~ 11~ -p , 5 z IIIIIIIIIIIIIIIIIIII~ , " , , , , , , SINGLE FAMILY DWELLING PRIOR LAKE HOUSE MOVE . "'" ~iU 11II1II111II1II11Ill11 I I I I i l. : .mIDD1 : - I I I _I ",1111. 3631 HOth ST. PRIOR LAKE, MN Value Advisors LLC 226 Exchange Street South, Suite A, Saint Paul, MN 55102 File No. 1338 APPRAISAL OF LOCATED AT: 3631 170 th Street SW Prior Lake, MN 55372 FOR: Twin Cities Habitat For Humanity 3001 4th Street SE Minneapolis, MN 55414 BORROWER: N/A ASOF: June 2, 2009 BY: George Curtis Value Advisors LLC II Value Advisors LLC 226 Exchange Street South, Suite A, Saint Paul, MN 55102 File No. 1338 6/3/2009 Mr. Chad Dipman Land Acquisition Project Manager Twin Cities Habitat For Humanity 3001 4th Street SE Minneapolis, MN 55414 File Number: 1338 Dear Chad In accordance with your request, I have appraised the real property at: 3631 170 th Street SW Prior Lake, MN 55372 The purpose of this appraisal is to develop an opinion of the market value of the subject property, as vacant. The property rights appraised are the fee simple interest in the site. In my opinion, the market value of the property as of June 2. 2009 is: 58,000 Fifty-Eight Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs. limiting conditions and appropriate certifications. Thank you, J1t. ~:L ~ ~~ George Curtis Value Advisors LLC Owner/ Certified Appraiser Value Advisors LLC LAND APPRAISAL REPORT Census Tract 0809.04 State M N Zip Code 55372 File No. 1338 LENDER DISCRETIONARY USE Sale Price $ Date Mortgage Amount Mortgage Type Discount Points and Other Concessions Paid by Seller ProperLY Address 3631 170 th Street SW City Prior Lake County Scott LeGal DescriPtion See Attached Addendum Owner/Occupant City of Prior Lake Map Reference 161/A4 kinos .. Sale Price $ N/A Date of Sale N/A __ Property Rights Appraised Loan chames/concessions to be Daid bv seller $ N/A I X 1 Fee Simpie RE.Taxes$ 0.00 Tax Year 2010 HOA$IMo. N/A 11 Leashold Lender/Client Twin Cities Habitat For Humanitv 0 Condominium (HUDNA) 3001 4th Street SE Minneapolis. MN 55414 0 PUD Source LOCATION U Urban lXJ Suburban U Rural NEIGHBORHOOD ANALYSIS G,'" A., ''', P,oc BUILT UP IXl Over 75% 0 25-75% 0 Under 25% Employment Stability 0 IXl 0 0 GROWTH RATE 0 Rapid (XJ Stabie 0 Slow Convenience to Employment 0 IXl 0 0 PROPERTY VALUES 0 Increasing [X) Stable 0 Declining CDnvenienceto Shopping 0 [X) 0 0 DEMAND/SUPPL Y 0 Shortage IXlln Balance 0 Over Supply Convenience tD Schools 0 (XJ 0 0 MARKETING TIME n Under 3 MDS. \xl 3-6 Mos. 0 Over 6 Mos. Adequacy of Public Transportation IXl 0 0 0 : PRESENT LAND USE % LAND USE CHANGE PREDOMINANT SINGLEFAIVIILYHOUSING Recreation Facilities 0 IXl 0 0 · Single Family 85% Not Likely (Xl OCCUPANCY PRICE AGE Adequacy Df Facilities 0 (RJ 0 0 . 2.4 Family 5% Likely 0 Owner 00 $(000) (yrs) Property Compatibility IXl 0 0 0 . Multi-Family 5% In process 0 Tenant 0 75 Low New Protection from Detrimental Cond. 0 IXl 0 0 Commercial 3% To: Vacant (0.5%) 00 1150 High 99 Police & Fire Protection 0 IXl 0 0 Industrial 0% I Vacant (over 5%) 0 Predominant General Appearance of Properties IXl 0 0 0 Vacant 2% I 338 . 18 . Appeal to Market 0 (XJ P 0 Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENT,,:rhe subiect is located in a arowina neiahborhood of sinale familv homes and attached townhomes. Parks. coif courses and the nearby Prior Lake enhance the area. Schools. shoppina. worship. recreation and most desired amenities are convenient Interstate 94 is close for aood access to emplovment Downtown Minneapolis is 25 minutes to the north. Dimensions 122.26x120.15x121.15x119.21 I Topography Basicallv Level Site Area 14.566 SaH. +/- Corner Lot yes I Size TvpicalforArea Zoning Classification R 1- Low density Residential Zoning Compliance yes I Shape Rectanaular HIGHEST & BEST USE: Present Use yes Other Use I Drainage Appears Adeauate UTILlTi ES Public Other SITE IMPROVEMENTS Type Public Private View Tvpical Electricity IXl Street Asphalt IXl 0 Landscaping Tvpical Gas IXl Curb/Gutter 00 0 Driveway N/A Water 00 Sidewalk 00 0 Apparent Easements tvpical Sanitary Sewer IXl Street Lights IXl 0 FEMA Flood Hazard Yes' No X Storm Sewer !Xl Allev None 0 n FEMAO Mao/Zone 2704320003C Comments (Apparent adverse easements. encroachments. special assessments. slide areas. etc.), These were no apparent adverse easements or encroachments noted. Tvpical utilitv easement for electricitv. sewer and telephone do not adversely affect value. However. no surveyor title search was conducted bv your appraiser. The undersigned has recited three recent sales of properties most similiar and proximate to subject and has considered these In the market analysis. The description includes a dollar adjustment, reflecting market reaction to those Items of significant variation between the subject and comparable properties. If a significant item In the comparable property Is superior to, or more favorable than, the subject property, a minus (.) adjustment is made, thus reducing the indicated value of subject: if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (t) adjustment is made, thus increasing the indicated value of the subject. ITEM SUBJECT 3631 170 th Street S Prior Lake COMPARABLE NO.1 15860 Fish Point Road SE Prior Lake 2.59 Miles southwest $ IZI COMPARABLE NO.2 14730 Carriage Lane NE Prior Lake 1.4 Miles northeast $ $ IZI MLSI DOM:85 DESCRIPTION Cash None Known 4/10/2008 Suburban Tvpical Good .23 Acres N/A N/A o Ixl. Address Proxlmitv to Subiect Sales Price Pricel Data Source VALUE ADJUSTMENTS · Sales or Financing . Concessions ; Date of SalelTime :- Location SiteNiew Utilitv Size N/A N/A Net Ad!. (total) Indicated Value of Subiect Comments of Sales Comparison, 55.000 N/A Suburban Tvoical Good .33 acre N/A N/A N/A IZI $ MLS/ DOM: 6 DESCRiPTION Cash None Known 10/15/2008 Suburban Tvoical Good 1.3 Acres N/A N/A Ixl. n- ;$ 0.01 0.0 $ DESCRIPTION t(.)SAdiustment n- ;$ Gross: O.D Net: 0.0 See Attached Addendum Gross: 55.000 . Net: t(-)SAdiustment COMPARABLE NO.3 2224 Wildwood Drive Prior Lake 4 Miles northeast $ $ IZI MLS/ DOM:79 DESCRIPTION Cash None Known 5/7/2009 Suburban Tvpical Good 1.14 Acres N/A N/A o Ixl. o 52.000 100.000 t(-)SAdjustment Gross: 52.000 I Net: r ] - ; $ 0.01 0.0 $ 100.000 Comments and Conditions of Appraisal: Appraised as is. No repairs or conditions are called for. This is a complete appraisal. with a summary report in conformity to USPAP. Final Reconciliation: Most weiaht aiven to the sales comparison analysis as it is the most reliable indicator of value. The cost aoproach and · income aoproach were considered. but not developed as there was a lack of reliable data. I (WE) ESTIMATE THE MARKET VALUE. AS DEFINED. OFTHE SUBJECT PROPERTY AS OF June 2. 2009 to be $ 58.000 . I (We) certify: that to the best of my (our) knowledge and belief. the facts and data used herein are true and correct; that I (we) personally inspected the subject property and inspected all comparable sales cited in this report: and that I (we) have no undisclosed interest, present or prospective therein. Appraiser(s) ~ , 2- -t!? ~ J Review Appraiser Georae Curtis (if applicable) .'roprietarylandForm0411l8 ProduCe!;lllSil1gAClsoft.ware.800.234.8727\WIW.aciwebcom Value Advisors LLC o Did 0 Did Not Inspect Propeny ADDENDUM Borrower N/A Prooertv Address: 3631 170 lh Street SW Citv: Prior Lake Lender. Twin Cilies Habitat For Humanity File No.: 1338 Case No.: State: MN Zio: 55372 Intended users The sole intended user of this appraisal is Twin Cities Habitat for Humanity. The intended use of this appraisal is to develop an opinion of market value. No other users are identified by the appraiser and no other use is authorized. Privacy statement All financial institutions are required to disclose their policy of dissemination of personal data. As Real Estate Appraisers, Value Advisors LLC is included in this requirement. We will not share any personal data included in this appraisal with any unauthorized parties. (authorized parties include: The named client for this report, peer reviewers & other parties as authorized by federal and state statute). Legal Description Sect-10 Twp-114 Range-022 .98 AC Pia NW1/4 NE1/4 COM NW COR NW 1/4 NE1/4, EON N LINE NW1/4 641.80' TO pas, S 168', E 177', N 168', W 177' TO pas Site Comments Note: Scott County land record reflects a discrepancy in parcel size. Per county data (on-line) the Deedable size is .98 Acres and GIS size is .33 acres. Your appraiser utilized the GIS measuring tool (county provided on-line) and determined that the .33 acres size is most likely accurate. This this appraisal is based on that figure. It is an extraordinary assumption that the actual parcel size is .33 acres. In addition it is an extraordinary assumption that the measuring tool is basically accurate. If additional data becomes available your appraiser reserves the right to change any aspect of this appraisal, including the final option of value. Comments on Sales Comparison I have completed a through search of the properties which were listed and sold during the pervious calendar year through the Greater Metropolitan Area Multiple Listing Service in an attempt to to locate sales of similar properties in the immediate subject neighborhood. All three comparables have closed. It is my opinion that these sales are the best indicators of value available for the subject property. No adjustments were made as all three sales are considered to be basically comparable. Your appraiser considered all three sales in forming the final opinion of value. However comp 2 is most similar and in closest proximity. Additional Comments Note: No tax data was available to your appraiser as of the effective date of this appraisal. It is an extraordinary assumption that tax data is typical with no adverse influence on the market value of the subject property. File No. 1338 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised. and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. .Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beForehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as. needed repairs. depreciation. the presence of hazardous wastes, toxic substances, etc. ) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in perForming the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable. and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or For any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the inFormation, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility For the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided For in the UniForm Standards of ProFessional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion For an appraisal that is subject to satisFactory completion. repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent beFore the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and proFessional designations, and references to any proFessional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants: proFessional appraisal organizations; any state or federally approved Financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising. public relations, news, sales. or other media. Vacant Land Page 1 of2 File No. 1338 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1, I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge. that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis. opinions. and conclusions. which are subject only to the contingent and Limiting Conditions specified in this form. 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party. the amount of the value estimate, the attainment of a specific result. or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have personally inspected the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements. on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report. I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report. he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report. have reviewed the appraisal report. agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 3631 170 th Street SW. Prior Lake, MN. 55372 APPRAISER: SUPERVISORY APPRAISER (only if required) Signature: -f1t. ; 2-.e ~ y Name: George Curtis Date Signed: 06/02/2009 State Certification #: or State License #: State: Expiration Date of Certification or License: Signature: Name: Date Signed: _ State Certification #: or State License #: State: Expiration Date of Certification or License: o Did 0 Did Not Inspect Property Value Advisors LLC Vacant Land Page 20f2 Borrower: N/A Prooertv Address: 3631 170 th Street SW City: Prior Lake Lender: Twin Cities Habitat For Humanitv SUBJECT PROPERTY PHOTO ADDENDUM File No.: 1338 Case No.: State: MN Zip: 55372 FRONT VIEW OF SUBJECT PROPERTY Appraised Date: June 2, 2009 Appraised Value: $ 58,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: N/A File No.: 1338 Property Address: 3631170 th Street SW Case No.: City: Prior Lake State: MN Zip: 55372 Lender: Twin Cities Habitat For Humanitv ~. , . ~L___ ___ COMPARABLE SALE #1 15860 Fish Point Road SE Prior Lake Sale Date: 10/15/2008 Sale Price: $ 55,000 COMPARABLE SALE #2 14730 Carriage Lane NE Prior Lake Sale Date: 4/10/2008 Sale Price: $ 52,000 COMPARABLE SALE #3 2224 Wildwood Drive Prior Lake Sale Date: 5/7/2009 Sale Price: $ 100,000 LOCATION MAP Borrower: N/A Propertv Address: 3631 170 th Street SW Citv: Prior Lake Lender: Twin Cities Habitat For Humanitv File No.: 1338 Case No.: State: MN Zip: 55372 ~.':"+~f-<'''~rc' L _ (L ~ - J...,.:> .~"~ c/-::2 ~'/- li"I::-:~=::"-j '~:.:-.::=-nF-. ....:~~c,-.,.t~., <; \)l~Q<;"\~? 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E) File Number: 1338 Value Advisors LLC 226 Exchange Street South, Suite A, Saint Paul, MN 55102 File No. 1338 ********* INVOICE ********* 6/2/2009 Mr. Chad Dipman Twin Cities Habitat for Humanity 30014th Street SE Minneapolis, MN 55414 Borrower: N/A Invoice # : 1338 Order Date: Reference/Case # : PO Number: 3631 170 th Street SW Prior Lake, MN 55372 Terms: Land appraisal Less donation Invoice Total State Sales Tax@ Deposit Deposit Amount Due Please Make Check Payable To: Value Advisors LLC 226 Exchange Street S, Suite A, S1. Paul MN,55102 Fed. 1.0. #: $ $ 325.00 -125.00 $ $ ($ ($ 200.00 0.00 ) ) $ II 200.00