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HomeMy WebLinkAbout1997-06-23 PRC Packet . Otil~4t~~ ";-;,, '"'''' " ."" s~ STILL WATER PARKS AND RECREATION BOARD MEETING NOTICE AND AGENDA JUNE 23, 1997 The Stillwater Parks and Recreation Board will meet June 23.1997 at 7:00 p.m. at the Parks Headquarters, 1372 S. Greeley Street, Stillwater, MN. 1. 2. , 3. 4. 5. 6. 7. 8. 9. 10. . Approval of April 28, 1997 minutes. Update on purchase of Meadowlark Park land (Cowen property). Discussion of presentation by Jon Gurban, Executive Director, Minnesota Recreation and Park Association. Proposed ordinance regulating surface water use of Long Lake. Discussion of need for Skate Board facilities. Availability of lot in Oak Glen (south west area). Update on Sports Complex. New business. Old business. Adjournment. CITY HALL: 216 NORTH FOURTH STILLWATER, MINNESOTA 55082 PHONE: 612-439-6121 . . . PARKS AND RECREATION BOARD April 28, 1997 Present: David Junker, chairperson Linda Amrein, Nancy Brown, AI Liehr, Rob McGarry, Del Peterson, Leah Peterson, Mike Polehna and Steve Wolff Others: Tim Thomsen, Parks Director; City Coordinator Nile Kriesel Absent: Rich Cummings and Ken Meister Mr. Junker called the meeting to order at 7 p.m. Approval of minutes of Feb. 24 and March 19. Ms. Amrein pointed out several typos in the minutes of March 19. Motion to adopted the minutes of Feb. 24 and March 19, 1997, as corrected passed unanimously. Discussion of possible purchase of Cowen property Tim and Signe Cowen were present to discuss the city's interest in purchasing all or a portion of a parcel they own adjacent to Meadowlark Park. Mr. Kriesel referred to Mr. Russell's memo regarding the possible purchase of the property. Drainage improvements to the park are scheduled for this summer; $50,000 is available in park dedication fees. Mr. Cowen said the question they have of the Park Board is whether the Board is looking for improved access to the existing park or more park land. Mr. Kriesel said Mr. Russell thought 20-30 feet of access would be desirable. There was discussion regarding existing drainage problems at the park as well as the possible location of the access. Mr. Junker asked about the possible purchase price for the entire parcel. Mr. Cowen said, according to the developer, the preliminary market value of the lot is $50,000. Mr. Cowen said they might be willing to negotiate providing the city with the additional access in exchange for changing the existing lot lines and stubbing in sewer and water service to what would be a developable lot in the future. . . . f, Mr. Kriesel asked Board members for some direction as to whether the Board desired to acquire access only or additional park land. It was the consensus that, at this point, it is desirable to purchase property for access only. Mr. McGarry, seconded by Mr. Peterson, moved to acquire property for access only until there is a better idea regarding the usefulness of the park after drainage improvements and to direct staff to negotiate with the Cowens on the acquisition of a portion of their property for the improved access. Motion passed unanimously. Functional update from Mr. Thomsen Mr. Thomsen's update was included in the agenda packet. He did note that vandalism is an increasing problem. Mr. Kriesel noted that the wall at Pioneer Park will have to be replaced as very little of the stonework of the existing wall is salvageable; the replacement will be a poured cement wall that looks like stone. Mr. Polehna asked if there were plans to cut an infield at Washington Park. Mr. Thomsen said the infield will be built up some, but no other improvements are planned at this time; the Washington Park field is not used for scheduled games. Lily Lake Arena update Information was provided in the agenda packet. Mr. Kriesel said he was still trying to contact Troy Pearson of the St. Croix Valley Hockey Association. He said he hoped to have a report for the next meeting. Long Lake surfa~e use ypdate Mr. Junker said a tentative meeting has been scheduled with the Planning Commission for May 12. Sports complex update Mr. Polehna read through the revised project timeline which calls for construction to begin in September or October. He said there was some concern the project was losing momentum, but said he felt things were progressing better now. Oak Glen property acquisition update Mr. Junker noted the redemption for the tax forfeiture parcels in question expires in August; no action can be taken until that time. There was some . , . ,. - question as to the cost to the city to acquire the parcels. Mr. Kriesel said the only cost would be the amount of lost assessments on the parcels. ~ Mr. Wolff, seconded by Mr. Liehr, moved to approve the annual request by Dave Rochlin to sell glow necklaces in Lowell Park on July 4. Motion passed unanimously. Ms. Amrein raised a question regarding the May 20 workshop meeting with the City Council to discuss a parks director position. Mr. Junker said members would be receiving a meeting notice regarding the workshop. There was a discussion regarding the possibility of the city becoming a designated Tree City. Mr. Kriesel showed aerial photos of the city and suggested the city does not have a problem with tree cover. Mr. Kriesel also said he had looked into the Tree City program several years ago and found that the cost of the paperwork outweighed the possible benefits. Ms. Peterson disagreed. She said she felt the city needs a tree ordinance and should work toward becoming a Tree City. It was agreed that Mr. Kriesel will work with Ms. Peterson to develop a future recommendation. There was some discussion as to when to conduct the annual park tour. Since the regular May meeting falls on Memorial Day and the Board will be involved in two other meetings in May, it was agreed to hold the park tour at the June meeting. Mr. Wolff also suggesting eliminating the July meeting. A motion to cancel the May and July meetings passed unanimously. The meeting was adjourned at 8:30 p.m. Respectfully submitted, Sharon Baker Recording secretary -- , . - . \ MEMORANDUM TO: Park and Recreation Board F.R.: City Coordinator RE: Discussion of agenda items DA:: June 20, 1997 Discussion: First of all let me apologize for not being able to be at the meeting Monday night. I have a personal commitment which will not allow me to be in attendance at the meeting. However, I am confident that Mr. Thomsen will be able to satisfactorily advise the Board on any of the issues that are on the agenda. Mr. Thomsen can provide me with a report on the action or direction the Board may make or give at the meeting. Meadow Lark Park The City Council authorized the purchase of a 25 foot strip of land that lies north of and adjacent "' to Meadow Lark park. The land is owned by Tim and Signe Cowen and would provide a better access to Meadowlark Park from Interlachen Drive. City staff are in the process of preparing the necessary paperwork to complete the purchase. It appears the purchase will take place within the next 45-60 days. The City Council has also accepted a bid by Rehbein Excavating to construct drainage related improvements for the park. The improvements should be completed by this fall. Jon Gurban presentation Some of you were in attendance at the work shop the City Council conducted with Jon Gurban, Executive Director, Minnesota Recreation and park Association. Mr. Gurban expressed his views of the benefits of park and recreation facilities and activities. Councilmember Cummings also listed some of the park and facilities development/redevelopment issues that the City and Board will be faced with in the future such as the Aiple property, annexation area, existing parks, Sports Complex, etc. Staff was directed to review the issues discussed at the workshop and report back to the Council at a subsequent meeting. In regard to the direction of the Council, I have begun discussions with Mary Lou Gorski, Community Education Director for ISD 834. Ms. Gorski suggested that an inventory of park and recreational facilities be made as a starting point. The inventory would include all of the facilities owned and operated by the City and ISD 834 as well as those that are located within about a 10 mile radius of Stillwater (i.e., Bayport, Oak Park Heights, the townships, etc.). The inventory would indicate the types'offacilities we have available in this area, what is lacking and perhaps even how the facilities may be better utilized (e.g., could the old athletic field be converted to a .. . . e . disc golf course or a skateboard park?, etc.). It is also suggested that a study/survey could be made of the community(s) to determine what the communities would like to have and what they may be willing to pay for. The survey could include possible sites for desired facilities. The survey could also be used to determine how the residents believe the facilities could be better used. The survey could be conducted by a professional consulting firm. According to Ms. Gorski, this kind of activity is presently taking place in Hugo and Buffalo Minnesota. I would further suggest that the work program could also include a closer review of the issue of hiring another full time staff person to oversee the park and recreational function of the City (which I do not believe is necessary at this time but may have some merit if the new Sports Complex/Community Center is accomplished and if there are additional parks and recreational facilities acquired). Finally, I have included a draft of the 5yr Capital Improvement Program ("CIP") that the City Council is presently working on. The CIP consists of two parts. One part is the plan related to the normal on-going operations of the City (i.e., police, fire, public works, parks, admin, etc.). These are items that are needed to basically maintain existing facilities, infrastructure and basic city services. The second part is the "Potential Project" plan which includes improvements or projects that are needed to expand the operations such as the trunk facilities related to the new annexation area or to improve the infrastructure such as the reconstruction of existing streets and sidewalks. The Potential Projects plan also includes projects that have been identified as desirable such as the development of the Aiple property, the redevelopment of Lowell Park and the Sports Complex/Community Center. Some of these projects such as trunk utilities for the annexation area and reconstruction of city streets and sidewalks are not only of a higher priority but also have an identified funding source (e.g., special assessments and Municipal State Aid street funds). Other projects, such as the Complex, the Aiple property and others that are highlighted on the schedule, will need a special funding source because of budgetary constraints and the limitations associated with property tax levies. Therefore these projects may not take place for an extended period of time - at least not until there is a funding source. I bring this up at this time to remind the Board that the City is under some constraints when it comes to acquiring, developing and even in maintaining or operating the facilities. I believe the City is going to be hard pressed to provide adequate maintenance and operational support for any new the facilities. In fact the real problem the city faces is the ongoing cost of operating and maintaining the facilities and not in obtaining grants to development the facilities. In any event I will continue to work on the various issues and will hopefully have a more definitive report and recommendation to you at the next meeting. Your reaction or direction could be conveyed to Tim Thomsen at the meeting. Long Lake surface use Attached is a proposed ordinance "regulating the use and operation of watercraft on Long Lake". This ordinance was the result of the joint hearing conducted by the Planning Commission and the . e . Park and Rec Board. The ordinance would provide a 10 horsepower limit and would prohibit wave runners and jet skis. Board review, comment and approval is requested. Skate Boarding There is a growing concern for the need to provide a facilities for skate boarders. Unfortunately, there aren't any facilities for skate boarders and they typically use city streets and sidewalks or private property for skate boarding - often in violation of city ordinances. Therefore, a facility appears to be needed. Tim Thomsen and Sue Fitzgerald (and I) have been working on this issue and Tim can provide you with an update on this matter at the meeting. A vailabilitv of lot In Oak Glen Several years ago the Water Board acquired a piece of property in the south west area of the Oak Glen development (see attached map). The land was acquired for a water tank. However, the water board is now looking at another site and will not need the present parcel. The water Board plans to sell the property but is giving the City an opportunity to purchase the property before it goes out for a public sale. The lot is about 1.3 acres and is appraised at $44,000. Tim will provide you with more information on the lot and its potential use as park land. Sports Complex The City Council received the enclosed report from city staff at their meeting on June 17th. The report details the estimated cost and financing of the complex which includes an ice arena and a 2 field soccer facility. At this time there is a $2,000,000 shortfall in the financing. This would create about a $240,000 tax levy each year. This was unacceptable to the Council and they directed staff to determine if their is any way to reduce costs or at least to reduce the City's share. Staff will report back to Council at their July 1 meeting. Councilmember Cummings can update you further on this matter at the meeting. /t/~ . ,)II... __\~c,QT^ RE:CRE.1 ~~\( ASSOcI....~n.. ~ .l"~ . Minnesota Recreation and Park Association . 5005 West 36th Street . St. Louis Park, MN 55416-2661 Phone: 612/920-6906 . Fax: 612/920-6766 . Toll Free: 800/862-3659 May 27, 1997 J- ,IJ1 '. t r t- /0r; ~jJf v1 f>1 f f It ~f1 ~.1 Rich Cummings, COlUlCil member Stillwater City Hall 216 N. Fourth ST. Stillwater, :MN 55082 Dear Rich: I want to thank. you for the opportunity to present the Benefits of Parks and Recreation to the Stillwater City COtUlcil, Staff and Community Groups. I was particularly impressed with the cross section and depth of voltUlteer interest groups in your community. Clearly Park and Recreation services are an important aspect of the community from their perspective. There seemed to be a genuine interest in improving services. As well as a commitment to actively participate and contribute towards those improvements. I would hope that as a City COtUlcil you would appreciate and in fact encourage such involvement. It would seem some solid leadership at this time could reap major long term rewards. In my view, a regional (or shared) approach towards supplying park and recreation services, with the City of Stillwater at the forefront would make the most sense. Getting as many of the key players; township, Oak Park Heights, School District, Park Commission. V AA and other appropriate special interest groups together would be a logical first (or next) step. I'm sure a good facilitator could be fotUld. In a pinch, we may be able to help. Again, I appreciate the opportunity to visit your fine community. Yours truly, Jon Gurban Executive Director JRG/kls x.e. Dave Junker, Chair Parks Committee Genadminl.pm6/exhibit ~ Prinred on recycled p.per .....ith soy hased ink. ~,~ ~ -- STU.iWATER ii3I .. ~ '" -. __J E!fecnve Learmng Through ExceJ/ence in Ec!uC3tion 1875 SOUTH GREELEY STREET STILLWATER, MINNESOTA 55082 351-8340 . V-TOO 351-8338 May 2 L 1997 To: :\fayor Kimble and Stillwater City Council :\fembers :'vbr;; ~ou Gorski /r] ~ 4 P:.J.ul Westmoreland ~lJ...J Park Planning From: Rc: T~ank YOLl for including us in the special meeting reg:.lrding parks and recreation yesterday. \\ e found it imeresting. \Ve hope you \vlllmciuck LlS ~lS parmers :J.S you -:ominue to work on this imponam issue, 'vV' e would be happy [0 work together on ::my step \vnere that would be appropriate. . We would also like to propose increased corrununic:.ltion with your Park and Recreation Board, We would be inre:'ested i~ providing the Board with periodic reportS on the types of recreation pros!,-ramminz \Ve 0urrEntlv orovide. field Llsaze. and the issues \Ve idenrifv as important by Stil!\v~Her-residen[s'Ji,s \;"e provide that progr:.unm.ing. vVe \vill contact s"Laff to ~l!T:J.nge for [h~H type of communication, ' .. Ag:J.in. [hank you for including us in yes[e:'c~ay' s meeting. We look r"orward [0 working \Vlth VOLl t"unher, ; . . J;~;.t ~ '" cc: v<':k Kriesel Tim Thompson .",.~ An Equal Opportunity Employer "AVID WETTERGREN .perintendent Director Curriculum & Instruction DANIEL C. PARKER Business Manager MARY JO WEINGARTEN Deputy Superintendent K-12 Education CLAUDIA l. RISNES MARV SWANSON DON J. LOE MARY LOU GORSKI Director Personnel Services Director Special Services Director Community Education & Recreation .... 'JO c---.. . . . FILE COpy MEMORANDUM TO: Dave Magnuson, City Attorney FR: Steve Russell, Community Development Director f----/ DA: May 15, 1997 RE: ORDINANCE REGULATION SURFACE WATER USE OF LONG LAKE The Planning Commission and Parks Board met on May 12, 1997, to consider an ordinance regulating the surface water use of Long Lake. After reviewing the attached information, they passed a motion to establish an ordinance that: limits maximum boat motor size to 10 bps. prohibits personal water craft (wave runners, jet skies, etc) from use of the lake. Would you prepare a draft with those provisions in it. The draft ordinance will be reviewed by the Planning Commission and Parks Board for confirmation with tbeir action on May 12, 1997 before being recommended to council for approval and submittal to DNR for final approval. Thanks. Attachment: Staff report for Joint Planning ComrnissionlParks Board meeting May 12, 1997. .... ,-.. . . . MAGNUSON LAW OFFICE 6124395641 p.e2 ORDINANCE NO. AN ORDINANCE REGULA TIN,G THE USE AND OPERATION OF WATERCRAFT ON LONG LAKE Tbe City Council of the City of Stillwater does ordain:, 1. Lonl2 Lake. This Ordinance applies to the waters of Long Lake, located in Sections 30 and 31, Town 30 North. Range 20 West, in the City ofStil1~Citer, Washington County, Minnesota. 2. Ten Horse.power Limit. Watercraft permitted to be operated upon Long Lake may not be powered by motors having a maximum total horsepower in excess of ten (10) hp. 3. Permitted Boat~. Boats, canoes, kayaks, rowing shells, pontoons. paddle boats and sailboats may be operated on Long Lake. 4. Motorized Personal Watercraft Prohibited. Personal motorized watercraft, such as wave runners or jet skis and similar devices may not be operated on Long Lake. 5, Penalties. Any person who violates any of the provisions of these regulations is guilty of a misdemeanor and may be filled by a fine of not more than seven hundred and nolI 00 dollars ($700.00) or by imprisonment of not more than ninety (90) days, or both. ' 6, Savings. In all other ways the City Code will remain in full force and effect. 7. Effective DatE(. This Ordinance ,",ill be in full force and effect from and after its passage and publication according to law. Enacted by the City Council of the City of Stillwater this 20m day of May, 1997. CITY OF STILL WATER Jay L. Kimbl~, Its Mayor ATTEST: Morli Weldon, Its Clerk MEMORANDUM . Mayor and City Council .l~: Steve Russell, Community Development Director DA: June 12, 1997 RE: UPDATE ON SPORTS COMPLEX This report updates the city council on the status of the St. Croix Sports Facility project and requests direction for proceeding with the construction ofthe Phase I project and development of plans and funding for the second, Phase n, community center part of the project. The report will first describe the Phase I component of the project in terms of costs, identified funding sources and city financial responsibility. The current schedule for Phase I construction calls for construction to begin September 1997 with a Fall 1998 opening of the facility. For the Phase II community center part of the project, several areas need further development. The activities or uses housed in the center need to be determined with an eye on broader community financial support for the project. The National Guard's involvement in the project must be determined. These issues are addressed in the second following section of this report. The community center master plan and sports complex Phase I and Phase IT plans are attached. 41rts Complex Phase I Plans e Phase I sports complex plans were presented and approved at the city council meeting of January 28, 1997. The plans include a hockey arena with seating for 1200 spectators and a two soccer field fieldhouse. The cost of Phase I is $5,526,000 (see Phase I construction costs, Attachment "A"). The St. Croix Sports Commission has raised $3,627,000 as listed in Attachment "B". The city's financial advisor has estimated the bonding requirements to finance the Phase I sports complex. Attachment "C-l" shows the bonding schedule. The city's responsibility, assuming pledge payment, is approximately $240,000 a year for the 20-year bond term. In addition, the finance director has indicated concerns and effects of city bonding for the Phase I project (see Attachment "C-2". A construction schedule has been developed to accomplish a Fall 1998 opening of the Phase I facility. The schedule calls for the completion of plans and specs by August 12 and construction to begin September 24, 1998 (see Attachment "D"). Communitv CenterlTrainin!? Center. Phase II .. community center/training center includes National Guard involvement. At the January 28th meeting, General _lane expressed concern for the master plan design and position of the armory in the complex. Subsequent to at meeting, the Minnesota State Building Commission released $15,000 that was matched by the city to incorporate the design of the training center in the sports complex. The training center plans have been prepared and are included in the area shown an the sports complex map as Map 1. The costs of community center/training '., -.. center is estimated at $7,794,600. Of that number, the National Guard would pay $3,850,000 leaving roughly $4 .....,illion to be paid by other sources (Attachment"E").. _ ' . J. ne Minnesota National Guard has established the Stillwater Training Center as its highest priority for a new facility. Federal funds have not been available for new annories for the past three years and none will be available this year (1997) according to the city's legislative consultant. Next year the National Guard plans to approach the state legislature for state bond money to build the training center. If this new approach is successful, funds for the facility could be available July 1998. In order to construct the Phase I project, approval from the National Guard will be necessary because the land that the Phase I sports complex sits on is owned by the National Guard. The master plan for the entire 16 acre site shows how the training center can be coordinated with other community center buildings and activities on the site so national guard approval is probable. Where do we go from here? If the Phase I time line is to be met and the physical design of the Phase I sports complex remains as designed and the city decides to proceed with Phase I, then the Compass report provides direction on how the city should proceed with the community center Phase II project. Many of the Compass suggestions require broader community input and interest in the center resulting in broader community support in terms of use and financial contributions. - Compass report suggests that a new sports commission be formed with members from prospective users or ~~:mtributors groups. This would provide more direct community input in the uses accommodate in the center. For _ ]cample, an aquatics facility has been mentioned as a possible element of a community center. There is not enOUgh. room for such a center with the public works facility in the master plan area. It is suggested that if a new sports commission is formed, the pubic works facility be removed from the site for planning and site programming purposes. This would allow the new commission more flexibility in designing the community center. This process of engaging the community in planning for the community center is critical for support and financing for the project. It would be appropriate to have Mr. Balentine assist the council and staff in developing the community participation process so it coordinates with the fund raising phase of the project. Attached to this memo is Attachment "F" provided by the Compass that identifies some of the actions and activities that would be part of a successful community involvement fund raising effort. Other project options could be developed if the time line for construction of Phase I is delayed or the design of the sports complex is modified (resulting in a delay in project construction). Recommendation: Direction on proceeding with Phase I sports complex project construction and direction to formulate a detailed strategy to involve the broader community in the design and financing of a Phase II community center. . . .. . ..... ~ " ~ 58 ~ -l o...~ 0... X UJ- 0 W . z'" ;: . o~ ~ a I- 0- 11 UJ~ UJ L (flW (fl . <t~ <t 0 ~I :c- :c U !I o...~ 0... (/) oSl t- . 0:: .!I 0 ;ij J\. 0- (/) '-. .... ---. -- -- ..--.... 1 >- ~= ~I w ":i ~ "I ~ 11 4: =.. > oCf g ~ .. i X i 0 ~l w Q lol ~ '" 0:: ~Ii ~ U . .;,t c t- ~ (/) .:0<:0 co co 0:> coco .{:::==~======== 0~ - - - - - -- . ------- O ======= 0-1======= . ------- ------- o ======= o _-----:::nl o ======\V" , (;0 Q y::) 0::> (;0 CP' , co~ -~ ~~i :::nl -" IV" -. ,. _/0' ... .. a:: ::> '- :LillI a . .. '" ~ u .' z KG- <l: ~ ~~ ~ : (fl ~ <l: 0 !: A TT ACHMENT "A" . CONSTRUCTION COSTS PHASE I 6-17-97 l. Ice Arena (original) $ 2,553,880 2. Fieldhouse (original) $ 1.546.120 Subtotal: $ 4,100,000 3. Additional Site Cost 3.1) Ponding $ 50,000 3.2) Landscaping (including public sidewalks $ 250,000 3.3) Parking Lot Lighting $ 100,000 3.4) Market Place Design Upgrades $ 75.000 Subtotal: $ 4,575,000 4. Architect Fees $ 275,000 5. City of Stillwater Costs (Civil Eng. - EA W- Soil Tests - Bldg. Tests, etc.). S 50.000 . Subtotal: $ 4,900,000 6. Upgrades - Ice Arena 6.1) Increased Width (1200 seating) $ 200.000 Subtotal: $ 5,100,000 7. Upgrades - Fieldhouse 7.1) One Field to Two Fields S 426.000 Total: $ 5.526.000 . . . . Sports Commission Fund Drive Results (Excluding Land) 6-17-97 1. Corporations (Founders) 2. Business (Regular) 3, Special Gifts (Individual) 4. Foundations 5. City of Stillwater (TIF) 6. Local Units of Government 7. School District 834 8. Hockey Association 8.1) Cash Pledges (Fees) 8.2) ~ Donations (Board Sales) 8.3) ~quity" 8.4) Pledges (Original Collected) 9. Soccer 9.1) Pledges 9.2) Capital Donations 1 O. Mighty Ducks - 1996 Pledges 11. Operation "97" 11.1) An Evening with the Mirmesota Twins Subtotal: 12. Future 12.1) Might Ducks - 1997 Pledge 13, Potential Losses 13.1) Hockey Board Sales 13.2) Soccer Pledaes ;:, Subtotal: 14. Unpaid Pledges (4%) Total: ATTACHMENT "B" $ 205,000 $ 25,152 $ 63,068 S 925,000 $ 1,000,000 S 289,640 $ 167,717 S 550,000 $ 240,000 $ 120,000 S 17,546 $ 157,813 S 50,000 S 125,000 S 7.486 S 3,942,802 S 125,000 S (240,000) S (50.000) S 3,777,802 S (151.112) S 3.626.690 Ol/2,S/J7 UO:~7 fA~ 6:2 22J 3002 S~~i\GSTED .J..:"C:.-.- ~OOJ;llUJ . -. --- ...- .--- -- : /' _ I ., city of StiUwater, Minn~ota G",neral ObUgatlon Sporb FaciUty Bonds, Series 1997 Revised Project Costs. 20 Year Repayment 4-H4CHrJ114 11(,''-1 Sonds Dated: Mc;ture: 211/1997 1211 Debt Service Capitalized Totall S~rpfl1~l Year Princioal Rates Interest Total PledQss Imerest (Defici{) (1) (2) (3) (4) (5) (6) (i) (8) !Sj / 1997 218,187 218,167 218,167 218.167 0, 1998 475.000 3.85% 261,800 736,800 497,751 497,751 {2::9,04SJ/ 1999 485.000 4.00% 243.513 728.513 488,462 488,462 (240.051)! 2000 490.000 4.15% 224,113 714,113 474,547 474,547 (239. See} j 2001 510,OCO 4.30% 203: 778 713.n8 475,398 475,398 (238,380) i 2002 300,000 4.40% 131,848 481,848 240,801 240,801 i (241,C47)i 2003 270,000 4.50% 163,648 438,648 201,759 201.759 (236,689) 2004 285,000 4.60% 156,498 441,498 202.774 202,n 4 (238,724). 2005 230,000 4.7C% 143,388 373,388 13.5,1GO 135,100 (238,288)/ 2006 245,000 4.80% 132,578 3n,578 136.240 1::6.240 (241.338) . 2007 195,000 4.SO% 120,818 315,818 77,857 n,8S? (237,9131) 2008 20~,OOO S.OO% 111,2E3 316,263 77,857 n,8S7 (238,406) 2009 210,000 5.10% 101,013 316,013 ' 77.857 77,857 (238,1xj 2010 225,000 5.20% . 90,048 315,048 n,BS? 77,857 (237, 18'J/ 2011 240,000 5.30% 78.348 318.248 77,859 n,859 {240,4E9j 2012 175,000 5 ~--. €5,628 240,628 0 (240,62E) .~~7a 2013 iS5,OGO 5.40% ES.2€S 241,265 0 (241,255) 1 2014 195.000 5.457'0 46,275 241.275 0 (2~1,27=)! 2015 205,000 5.45% 35,648 ~40,548 0 (2~'648rl 2016 215,000 5.50% 24.475 239,475 0 (239,475j 2017 230,000 5..5070 12.6S0 242.650 0 ;242.650) Totals I 5 575 0 -4 - 4 119 18 16 3 - ~ , ., - "-fl " . . 00 2.876,754 8.251.7:> 1,).2 2. 2 , 7 .400.2_6 I (_3::1.5,,) I (;.\ verage) Bond Years Average f...1at Ne: Interest Rate 53,105.83 9.53 5.15% Annuallntsrest Discount @ 1 % Tctar rnteres~ 2,676.754 55,750 2,732,5C4 ;::ns~ec by: Spn";cl"" :nC;J~l";1Il!d (1C;-,'S;'J io'(~ '0~8 () fJ {J ( . S7il:'I~.: XL S . TO: FROM: MEM 0 RAL'ID DIYI A-Hrk1~ /1 .LJ 'I ~'-L Mayor and City Council p~ Diane Deblon, Finance Director DATE: June 12, 1997 SUBJECT: Sports Complex Financing Backeround As you may recall, the attached schedules were presented for your information in January 1997. The approximate funding shortfall translates into a S240,000 per year tax levy. (See attached sheets. ) Analvsis On Tuesday, June 10, the Sports Complex Commission recommendations were provided with the following as key points/issues as I understand them: . 1. The complex would be expanded to a broader community use. 2. The project would be split into Phase I & Phase II. 3. Compass Development would work on Phase II funding only. 4. The cost to construct Phase I has not significantly changed from earlier estimates. 5. The contributions/pledges for Phase I has not significantly changed from earlier estimates. 6. The cost to construct Phase II is approximately 7.5 million.. With the bond issue sale last week, the following are the key points/issues from Moody's that you should be aware of: . 1. The spending of over 1 million in general fund balance significantly reduces the City's flexibility for the future. A general fund balance of less than 2 million that would require internal/external borrowing would eliminate the City's flexibility. The City of Stillwater has a very high debt per capita right now. (Without additional debt contemplated for utilities in the annexation area and the sports complex. ) The City of Stillwater should carefully consider the "necessities" it vvill be financing vvith future bonded debt. Legal Debt Margin allows for approximately 4.5 million in additional debt and how much will be left available for emergencies? 2. 3. 4. 5. . . Conclusion . There is a limit on the amoWlt of debt the City can incur. (Whether that is explicit as in the Legal Debt Margin allowed by State Statutes or the implied limits that allow the City to maintain an A2 bond rating.) The Sports Complex financing should be carefully considered before proceeding. Recommendation If the Sports Complex Phase I is your # 1 priority and necessity, then proceed. If something else that requires bonding is your #1 priority and necessity (i.e.-utilities in annexation area or ?), then . stop and review the Sports Complex alternatives presented previously. . . . MEMO TO: MAYOR & CITY COUNCIL /Jfj FROM: DIANE DEBLON, FINANCE DIRECTOR DATE: JANUARY 28, 1997 SUBJECT: UPDATE ON SPORTS COMPLEX FINANCING Attached are the updated schedules prepared by Mr. Langness for the increase in project scope and size for the Sports Complex. Schedule A is a revised estimate of Bond Issue size in the amount of $5,575,000. Schedule B is a revised estimate of the annual shortage the city would be guaranteeing and assumes no changes in the estimate of current pledges and revenues. The average shortfall is approximately $240,000 for a period of twenty years. For your information and a perspective on the tax levy impact, this would cost a residential homeowner $31.81 per year and if it were effective for payable 1997 the residential property taxes would have increased 5.1~ ~her than decreased 1.9%. (For comparison purposes, you can assume a ~rnilar impact for payable 1998 property taxes. ) . U~/~~/~7 u/;:,*7 r.ll ti~;: z;:;} ;}UUZ ::>l"KJ..'ou::>U:.1J J.;'''... city ot Stillwater, Minne$ota General Obligation Sports FaciHty Bonds. Series 1997 Composition of Bond Issue Revised Project Costs Sports Arena (Induding Outdoor Rink) Fieldhouse Site Costs - Additional Upgrades - Ice Arena - Fieldhouse 1 to 2 fiaids - Fieldhouse 2 to 3 fields Jesting Architectural Fees Contingency Fund Drive Expense Capitalized Interest - 9 mos. Working Capital - 2 mos Total Project Costs Less 1SS6I97 Pledges Net Required Underwriter's Discount Costs of Issuance T ota! Bond Issue ~r.::l by: Sprfng&:ed 'oc.orpcratad (1127197) $2,553,880 1.546,120 475,000 200.000 426.000 331.000 50.000 275.000 100,000 40,000 218.167 100,000 $6,315.167 (832.412) $5.482.755 , 55,750 36,495 $5,575,000 'l:JU"~"UII..l .___ 0__" __ SC~EJltLt:',. A . . . STlLUC~.XLS . . . LEGAL DEBT MARGIN As of June 12, 1997 Estimated Market Value Legal Debt Margin: Debt Limitation - 2% of estimated market value Total Bonded Debt Less: Improvement Bonds TIF Bonds Total Debt Applicable to Limitation Legal Debt Margin $24,835,000 ($6,660,000) ($9,925,000) $639,460.800 $12,789,216 $8,250,000 $4.539,216 4rr*lf~tj[f SCHEDULE St. Croix Valley Sports Complex Ice Arena, .Field House, Training Center April I - I 7 Programming Predesign Working Group Meeting - review programming/predesign Programming Predesign Steering Committee Update on programming/predesign 7:00 at Stj.Ilwater Public Library Ad Hoc Committee Meeting - review of programming/predesign Neighborhood Meeting! Ann Bodlivick Seniors Group Compass Report Available Working Group Meeting - review ofprogramming/predesign Public Presentation '. Possiblity for news release with updated plans showing with/without Training Facility Options MN Armory Natl. Guard decision needed on Training Center Facility for Fall 1997 Construction Working Group Meeting - review completion ofprogramminglpredesign Compass Report and .?\.1N Armory Natl, Guard decision City Council Approval of Compass to proceed on fund rasing, direction of project withlwithout Training Facility June 10 New Release of plans, elevations with project update June 10 - August 12 Prepare Final Plans and Specs July 7 HPC Approval of Plans and Specs July 28 Planning Approval of Plans and Specs August 12 City Counctl Approve Final Plans and Specs August 12 - September 16 Bidding September 23 City Council Approval of Constuction Contract September 24 Construction Begins September I, 1998 Ice Arena Completion November I, 1998 Field House Completion April 17 April 18 - May 30 April 28 May 8 May 8 - 30 May 15 - 30 May 22 May 22 -June 10 May 30 June 5 June 10 '. '. . . STEFAN I LARSON ASSOC. 6124391179 P.82 .. k~Hrh1rVt-C" . ~ATIONAL GUARD COMMUNITY AND TRAINING CENTER ST. CROIX V ALLEY AREA STILLWATER, MN 4.11.97 BUILDING /4F1E.A SUMMARY RJNCTION GROSS AREA 101 LOADlNC DCXX 4,roJl 102 STORAGE ARE.'\ 615 103 OPPICE/S"I'ORACE UOO NATIONAL GUARD AREA TOTAL ~ 104 :KITCHEN 1,325 105 , [X)lJBt..E crM 16,000 106 IMENS t.e:r::KER ROOM 1,0001 107 WOMENS LCXJCER ROOM ~l I N.G.I COMMUNIl"Y SHARED AREA TOTAL 19,.325 108 ICOMMUNIl'Y MEETINC HALL 2,500 109 ICOMMUNrIY CONFERENCE RCXlM 1,0001 110 COMMUNITY CONFE::RENC1! RCOM 1,0001 111 COMMlJN1T't CHILD CARE a:N1 I COM:MUNITY I TENANT AREA TOTAL 5,320 100 I LOBBY SPACE 3,150 ~ ICIRCUI.AllON ~ COM:M:ON AREA TOTAL I 8.050 I I FIRST FLOOR TOTAL SF AREA. 40,010 I I 201 NATIONAL GUARD OF'F'lCR 9,850 -1 202 NATIONAL GUARD TRAINlNC ROOM ~I NATIONAL GUARD AREA TOTAL 12,350 203 I:EXERCISE /"IRAQ: 1Q2OO I N.G.I COM:MUNlTY SHARED AREA TOTAL 10,700 204 COMMUNI'IY CLASSROOM 1,500 205 ICOMMUNITY CL.ASSROOM 1&Q COM:MUNITY I TENANI' AREA TOTAL 2,900 I ICIRCULATION ~I I COMMON AREA TOTAl 4.900: I I I I SECOND FLOOR TOTAL SF AREA I ~l I ----, 7.,86<1 \ TOTAL BUILDING AREA I I'BUILDING AREA SUMMARY; I I INATIONAL GUARD TOTAL AREA I 19,665 ~ IN.C. / COMMUNIIYTOTAL AREA 30,025 -1 ICOMMUNIIYTOTAL AREA 8,220 I COMMON TOTAL AREA 12,950 I I I ESTIMATED ,KucnON LU:;' .r:---...... \ I $)'fO I SF (70,860 SF) = S 7,794,600 , ----, - ~ ~ Ankeny Kell Architects. P.A. Stefan I Larson Associates I I' COMPASS Consultants For Institutional Advancement 4ft k0-f M.l tVt ~ P' ',I . - . Saint Croix Sports Facility Fund-Raisin2 Strate2V Actions required prior to fund raisillt! o New Sports Commission members o Community input on facility design o Community Center final design o Armory status finalized o Sports Associations negotiations o Finalized operating and construction costs o Additional land requirements o Public works facility location decision o United Way black out period o Managing project authority finalized Fund raising support activities o Organization of volunteer teams o Public relations campaign o Campaign materials o Campaign presentations o Municipal presentations . Community Fund Raisint! activities o Corporate business phase o Special events activities o Breakfast, luncheon pledge series o Senior drive o Neighborhood drives o Direct mail Call1fJai f! n parameters o Gifts pledged over a three-year pledge period o Acknowledgment of four gift levels o $100 gift o $500 gift o $1,000 gift o $10,000+ gift, . 4620 West 56th Street · Minneapolis. Minnesota 55424 · Phone/Fax (612) 929--6309 ,. ... ...! 1l13/LAF /97 File No, st i llwa terWATER STILLWATER BOARD OF WATER COMMISSIONERS 204 North 3rd Street Stillwater ,Minnesota 55082 File Number: StillwaterWATER In accordance with your request, I have personally inspected and appraised the real property at: XXXX Eagle Ridge Place Stillwater, Minn. 55082 The purpose of this appraisal is to estimate 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 estimated market value of the property as of MAY 26th, 1997, is: Forty-Four Thousand Dollars ($44,000) The attached report contains the description, analysis and supportive data for the conclusions, final estimate of value, descriptive photographs, limiting conditions and appropriate certifications. qp~<1 ~. Lafa 4001432 111]/LAF /97 IlieN., StillwaterWATER APpnAISAL OF LOCATED AT: x X X X Eagle Ridge Place Stillwater, Minn. 55082 FOR: STILLWATER BOARD OF WATER COMMISSIONERS 204 N0I1h 3rt! Street Stillwater,Minnesota 55082 ASOF: l"d A Y 26th, 1997 BY: Robert C. Lafayette 4()()1432 . 1111/LAF /q7 LAND APPRAISAL REPORT IiropertVAddress XXX X Eaale Ridae Place CensusTract70~ Citv Stillwater County Washinaton State Minn.ZiDCode ~~082 escrintion See Attached Addendum. Occunant Ci tv Of Stillwater Water Denartment Ma Reference ~~-lIA .. rice $ N / A Date of Sale Annra ised 1)-26-q7 Property Rights Appraised Loan charoes/concessions to be Dald bv seller ~ N / A 0 Fee Simple R.E, Taxes t 8150. OO/Est. Tax Year 1 qq8 HOA t/Mo, None 0 Leasehold Lender/Client STILLWATER BOARD OF WATER COMMISSIONERS 0 Condominium (HUD/VA) 201l North 1rd Street .St illwater Minnesota 15110821 PUD Source LOCATION U Urban Lx) Suburban C Rural NEIGHBORHOOD ANALYSIS BUILT UP o Over 75% [X) 25-75% 0 Under 25% Employment Stability GROWTH RATE 0 Rapid [X) Stable 0 Slow Convenience to Employment PROPERTY VALUES 0 Increasing [X) Stable 0 Declining Convenience to Shopping DEMAND/SUPPLY Q Shortage ~ In Balance Q Over Supply Convenience to Schools MARKETING TIME I X I Under 3 Mos. I I 3-6 Mos. I lOver 6 Mos. Adequacy of Public Transportation . PRESENT LAND USE % LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreallon Facilities : Single Family ---1Q!) Not Likely [X) OCCUPANCY PRICE AGE Adequacy of Utilities 2-4 Family _ Likely 0 Owner [X) $(000) (yrs) Property Compatibility :: Mulli-famlly _ In process 0 Tenant 0 1110 Low New Protection from Detrimental Condo Commercial _ To: Vacant (0-5%) [X) 1I150 High 20 Police & Fire Protection Industrial Vacant (over 5%) 0 Predominant General Appearance of Properties Vacant 1 q~ - ~ Aooeal to Market Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS: The sub ject "VACANT" city residential site is located in the 3rd ring St.Paul suburb of STILLWATER. A community that has historically reflected a good re-sale capability.Immediate neighborhood of quality built ugper value housing stock. Very good area recreational facilities with the OAK GLEN GOLF COURSE just a few blocks north.Good local services.schools and shonnina facilities.St.Paul (18' miles SW. Dimensions Irregular Pie Shaned Lot/See Metes And Bounds Leaal Topography Open . slopes to rear Site Area 56.093 Sq.Ft. Or 1.29 Acres CornerLot No/Cul-De-Sac Size Zoning Classlticallon RA - Single Family Resd 'lZoning Compliance Vacant Lot/Yes Shape Pie Shaped HEST & BEST USE: Present Use Vacant Lot/ResdlOtherUseNo Drainage Good/Drainage Area ITIES Public Other SITE IMPROVEMENTS Type Public Private View Very Good/Pond V iew+ ctrlcily [X) Street Asphalt [X) 0 Landscaping None/Vacant Site Gas [X) Curb/Gutter Concrete [X) 0 Driveway None/Vacant Site Water [X) Sidewalk None 0 0 Apparent Easements Dra inage Easement+ Sanitary Sewer [X) Street Lights Yes [X) p FEMA Flood Hazard Yes' No X Storm Sewer m Allev None r l I I FEMA' Man/Zone 1127~211q-00I1C/2-1-811 COMMENTS (Apparent adverse easements, encroachments. special assessments. slide areas, etc,): See Attached Addendum. " ( /\.. File No. StillwaterWATER LENDER DISCRETIONARY USE Sale Price $ Date Mortgage Amount $ Mortgage Type Discount Points and Other Concessions Paid by Seller $ Good Avg, Fair Poor [X)ooo [X)ooo [X)ooo [X)ooo 0[X)00 00000 CXJooo 00000 00000 00000 ~RRR The undersigned has reciled three recent ules 01 proper lies most similiar and proximate to subject and has considered the.. in the market analysis, The description includes a dollar adjustment, rellecting market reacllon to tho.. i1ems of signilicant varia lion between the subject and comparable properties, iI a signilicant item In the comparable property is superior 10, or more lavorable Ihan, the subject property. a minus (-) adjustment is made, thus reducing the indicated value 01 subject; if a signilicant item in the comparable is inferior to, or less lavorable than, the subJecl properly, a plus (I) adjustment is made,thus increasing the Indicated value 0' the subject. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 KEagle Ridge19111 Oak Glen Lane 1630 Johnson Drive XXX Towne Circle Address Stillwater Stillwater Stillwater Stillwater proximitvtoSubiect:i~1/2 A Mile North 1/2 Mile N.E. 1/2 A Mile North Sales Price $N/A 1I 00 1I8 000./4> ~ Prlce/N/A t {Zll<l: {Zl {Zl {Zl~ Data Source MLS 1J07w~i DOM 1 MLS 1162767 DOM 201l MLS 110711~0 DOM 122 ~ VALUE ADJUSTMENTS IiiIiIIE DESCRIPTION 111-1 $ Adlustment DESCRIPTION II{-I $ Adlustment DESCRIPTION II{-\ I Ad1ustment . Sales or Financing ash: Cash : Cash : . Concessions I , , . DateofSale/Time Ann.I1-26-Q7 "losed 6/q6: Closed 1I/<:I7: Closed 11/% : cation Suburban/Goor ~uburban/Good : Suburban/Good : Suburban/Good : e/View 1.29 Acre OallPart Golf: 8th Fairwav : -7.000 T.Home Site : +1~ 000 1.2Q Acre Sitf;~nen Area ""airwav Site : -5 000 Busier Street: +1.000 McKusick View: -1 000 Seen ic/Slones Site/Seen ic ~me Overall : Same Overall : Same Overall : To Sl' y Rear Slooes. Ideal nevelonment.. : Develonment.. : Develonment.. : Pondina Area ~lkout Site: : But T.Homes : Net Ad!. lIotall t - I 5. 000 ~- ' 1I 000 ~t -:<1: 12 000 Indicated Value :::>/ ....... ...........>...1 of Subiect 1I4. 500 1I11 000 2>1<1: 1I11 000 Comments 01 Sales Comparison: Primarv reliance afforded comnarables 111 & 112 which are sinale familv detached home sites with II~ a "townhome"lot onlv thus the +!l:10.000 adiustment in favor of the subiect.althouah the T.H.lot did have a view of McKusick Lake.Adiustments made for Golf locale. Comments and Conditions of Appraisal: The subject cul-de-sac residential building site is a very good one. This ~gpraiser assumes subject is a "buildable site".all soil conditions sound.etc. Final Reconciliallon Pr imary reliance is afforded comparables 111 & 112 with ad justments made for suner ior · ite (Oak Glen Golf Course sites' would indicate a final value estimate of:"FORTY FOUR THOUSAND OLLARS"....Subiect agpears to be an ideal pond view walkout basement type site. (WE) ESTIMATE THE MARKET VALUE. AS DEFINED. OF THE SUBJECT PROPERTY AS OF MAY 26th 19!IL to be $ 1I11.000 · I (We) certify: that to the be~m~ur) knOFledge and belief. the facts and data used herein are true and correct; that I (we) personally inspected the subject property . and inspected all comparable~e~~s : and (we) have no undisclosed interest. present or prospecllve therein, Appralser(s) SIGNATURE ., ~, . J Review Appraiser SIGNATuRE 0 Did 0 Old Not NAME Robert b.. Lafay (If applicable) NAME' Inspect Property ... u Proprietary Land Form 04/88 4001432, Minn. Thil form wal produced on The Apprill$en ChoIc, La$erForm IYllem 18001 ZJ4 l..flAR ST. CROIX APPRAISALS 143/LAF/97 File No. StillwaterWATER LEGAL DESCRIPTION: An Outlot/Oak Glen 7th Addition/NE.l/4 Of NW.l/4,Sec.20,T.30N,R.20W. The Full Metes And Bounds Description Described In Certificate Of Title #31216....That part of Outlot X of Oak Glen according to the plat of record in the office of the County Recorder,Washington County,Minnesota described as follows: Beginning at the most southerly southwest corner of said Outlot X, also being a point on the southerly right-of-way line of the abandoned Minneapolis and St. Paul Suburban Railway Company; thence North 00 degrees 52 minutes 08 seconds West, bearing oriented to the plat, along the westerly line of said Outlot X a distance of 130.10 feet; thence North 48 degrees 03 minutes 24 seconds East 206.35 feet to the southerly line of Eagle Ridge Place as dedicated on said plat; thence southeasterly along said southerly line and a curve, concave to the northeast, having a radius of 60.00 feet and a central angle of 54 degrees 47 minutes 34 seconds, a distance of 57.38 feet, the chord of said curve bears South 69 degrees 20 minutes 24 seconds East 341.63 feet to said southerly right-of-way line and the southerly line of said Outlot X; thence northwesterly along said southerly right-of-way line and a curve, concave to the southwest having a radius of 905.37 feet and a central angle of 16 degrees 29 minutes 13 seconds, a distance of 260.52 feet, the chord of said curve bears North 69 degrees 32 minutes 28 seconds West, to the point of beginning, containing 56,093 square feet, more or less. SITE COMMENTS: The subject "vacant" site is situated on a cul-de-sac street. This lot is "owned" by the Water Department and had been set aside from the original Oak Glen Development (there are upper value single family homes on both sides of the subject lot) for a future "city" water tower. The water department will not be constructing a water tower on this site and have,instead,decided to sell/market the site has a single family residential site. This appraiser will reflect a value estimate for the subject site with the assumption that all soil conditions are sound and that the subject lot is a buildable site. The subject quiet cul-de-sac street further enhances subject's marketability.Homes in subject's OAK GLEN DEVELOPMENT Stillwater area have historically reflected a good re-sale capability. The site lends itself well to a two story/Rambler walkout basement style house,that would/should retail in the $190,000 to $225,000 range. No apparent adverse site or neighborhood conditions that would inhibit subject's re-sale. SIIB.I ECT PROPERTY PIIOTO ADDENDI 1M . ,'~;' \ ... .'\." ~I':::II "I ~ ll13lLAF /97 hie Nil St i llwaterWATER FRONT VIEW OF SUBJECT PROPERTY AT: xxx X Eagle Ridge Place Stillwater, Minn. 550R2 Appraised: MAY 26th. 1997 REAR VIEW OF SUBJECT PROPERTY STREET SCENE o COMPARABLE SALES PHOTO ADDENDUM 1 Ll3/LAF/97 FileNo, StillwaterWATER '07U3 NEW S R SING FINSH CSll L.49,500 06/14/96 t DAYS PTS. 0 SO. 8203 OLP. 49.500 5-$49,600 COMPARABLE SALE #1 .... OAKOUNLH MIJN .TlLLWAn.. /tit 717 SUB. I '"11 no III 104 Ill' IU iliA no m:\UUIlOT IMr CU." MUlO top LEVEL nno CRY woo 0.00 SON 134 ~nr UI.IJ40 ''IN S 0 rxr ClI' ASM N iUQ/TI"l "l,1 SA 0 ROYAL & JOAN IMlTH 711.2111 lit N ntN.U.l,o.nu ..~l..!!!...'U II nlll^"~!~!!J.lI!Hl!!!.^!!~~!.!l!! _ _ _ _ _ ~r.I...no. n t I 1941 Oak Glen Lane Stillwater Sale Date: Closed 6/96 Sale Price: $49,500 lAX' JIO 111'11011 MAS 7eo (MV I COO WA... I'\5R " I"" MCKUIICK TO OAK OUN TO OAK OUN IN /ilIlrnmnn:rIiir~iffr.tliflA WIDE LOT AllOW' FOil z.nalllY W/OAIIAOIE ALOHG ltOE 0' HOME. "IOLD .€FOIII '''INTI- I c. lRliI.lJl1'ifJfOON lor n, ILK I INCA'I.TOII lI.t I EU.OAI,WAT.lrW,fU. COM,: J.!J TO IUL IRKR. , . . . , 02512 E R SING FINSH CON LWI,900 tu/21/t7 204 DAYS PT50 0 SO.8068 OlP. 48,900 50$48,000 COMPARABLE SALE #2 lUG JOHNIOH IlllIVI MUN Inuw,,,. 11P11O&l AR nJ IUU I COU WAI 1630 Johnson Drive Stillwater Sale Date: Closed 4/97 Sale Price: $48,000 'RO" OIl nOHIIllIOO( TO .lOHNION CT TO JOHN'ON Illl In 1.0 OH tTH 'AIIIWAV O. OAK OLIN 00.. COUftll, 'rAUT. lilt 160 IUNln Vlewl OVDt MAMCtllllD OR'rt4. AWAIID AlR ,,. MNMNCI nONIMIDGI aRM. COHVlNlNT IN TOWN DES CULDlIA LOC. UINO AU O"PII IU....TO PLAN A'....OVAL ,.... cu....... IGI LOT II, ILOCK I. OAK OLIN MNI 0 0 PtO .06003100 TOP LIVB. 'NC I'U TOft AOO CITY OSU TAM CIH WOOO.GO GAl WAY IEW no SON ... AVU M'lG 0 INT 0,00 % SOP ll1-b4Q GAl WAT IEW ITO PIN 0 or Cut A~M N ClHTUftV ZI PAULI\' UGC 8eo,I SA... IHnLY MCHAB.JI.tS&-'7OU fR D PHNln~3.'717 ,..e,.. nuucn PCII".. f: .11'7 Wilt r.11&A&a.rrrFn AP1 'U~""'" - 107430 W R SING SUBDV CSH l.45.ooo 05/03/98 tz2DAYS PIS. 0 SO. 8304 OlP. 45,000 50$32,000 COMPARABLE SALE #3 TOWNI Clftell MUN lnuwAnll ..",. sun. I. flln so Hf 1M III' ,., IUD SJ Ill5 CULDla. IMr cu.,.... MtU 0 ,or IIOlllNG nunc"., wonG.oo SON 1M snr.n'.I:UO EU.OAI,WAT.IEW.I'O. f'lNS 0 liU[iYWciilUi UurtV/To . DC DC ,I MICKEY THURMII tn.nn. 'Us.,", I....' ...11"....,..11'1'1" Ill" wnll,IIAII^NUln MA"A II LAKI vim illY , MCKUIICK J . ,.. , IIln MA_NelI"1 TO MCKUIICK I"" (, TO TOWNE lR'6ll1"11WiMtOUII LOT WITH LAKE VIEW" nil 'OWN. AT OAK GUN. ONLY: lO' un. 'HI' II.. tAU WAI '0' '" 100D. IHAMIIIOO'.wOOO .,DINO IIIOUIIIIEO. twiN HM ITYU W""EAII WIG. IIAft. FIND' IH . . IfiitffiTliWNiliiUlE PlAT t . nl. N. 1'.l.J. .. . 1"0 ,OIOU9OO tNe IU'UI '.1 II. EU.OAI.WAT.IEW,'TO. HuIOWNE"J A'.N.Jt.2S/MON XXX Towne Circle Stillwater Sale Date: Closed 5/96 Sale Price: $32,000 Fxr CllI A5M N 4,1 "IN 1I,...n..n.7 Arl I""'SI-un , EON . . e . I /\ , \ ( Location Map ) c,,~~\ ( ,,,1,, ;.. \, l"le ~\ " 'fll Slillwalc,'...// /',.., T w p'-: //.. ' /'\",;i!'ti~Nj%{~;~~' / : :!',"," l;h"",,~~~~'ll~'{1 .' 'I / \' ,"I:!'~";;'i\!i1\<"\l:;il';';I,, (':~'"' _"., \';1...1. /1/:/ .:"i;~~t~~~1~:~ 'I "'''''''''.1 W . .'..UN/"S.lIl . . '" o. .t. .,~,N"" ..O:-'J',I).I... 'I I ua'f".IW nM'I"":,"II~ .. "II....... I . '; ~ ,I il('~"l"J:~:"~:" I ':'""...,'" l.;'~':",~ I! \.,.:.:/.',.\:.,..'(/( i;..... ',' w ~~ 1..1 : ~ . " t.VI~'''''' ~ . I . I,'~,: ....VI...''"' I'" ." '1 I ' I ,r.'II.~~tI t' M "U,..(A\1 I. 1 . , ... ,J r.1_"""'CIU\1', 'I ' l "It......."...,_ ,.! J'.;,';.: \.. .,. ,.. ,.i;, .. . ~i l ".'''.:,;>;;: ::,,":,.'" ) v..,...., .,i. .1/./ 'i"", ,..-;' tArol' a..ltill ".. el. I. ;i' ';,,. \ ~I "" I , 'I "", , I \ , ...... ...J . I \ '. o " I r".~ltlu, Ill~'''' ~:l ~: "~I c. .' (Lr.j If"". 1* I'" ", 10 . r ' ~i'1 I;! ~~~i ~~~. :: .~I "l' ........~~I._... ......~.ttl~~u~'! .I.I~IC.~. . II (.I;;;.~i lrl .if tj ~, r: """... ~! . 31 t~J .' o(,:;,~" '" """"';' ,,; ',", " ~..;. "",. ........~I ''.i:'-f~ J 'i 'lo,,'<I~;;.&I),. ' ',. 'i);. '+.';';"" ~~iJ~:s~ ", .".,... u' OAK PARK HEIGHTS .II ,I. I.. .. 'oO ..,.., '..i;.~ ~:">:'~~Il I:; '"' II a \~~.~ .u.....;..." · \;.. ;;1 ':J " .., 'i' ';: ~~~ ..\~, ._, \' ~ It ') .;~' .'.,\ ,\ i. fl (-. <1..,', ' ~?J ""~'.I, ,.? \ y'';'1 ~ II....~~ . ") .......~ <'0/ .~' ( .., ..,\~ I . , { \ ~~l'''~' \~ ~ tj..:-:". ........, ....-' F. l?9 !; ~ll"'~... "m"'" " , /<!~ ,~~ " lJaylown Twp ')111".11 "\.. , ~i ~G"~P~I . ,'.' ;:, 'Ii ~II II. i'l ::1 ~ I II _l.." III .! II r~ \If n( ~''''''+':~il !, " " La.. UII SI "IIUIN 14 ~~ .... :1 ;1 i:: ~ ,", ,.,'.. ~.~ ~ (l.) "...l",.eO..phIC' 'ft. OCOP\RIO..' ..., .' . . e \. .;'. '. " I: .... ~ ~"\ x ( Plat Map ) ~ j " if 5 ONE 6 7 ..:.!!ll.J ~ ii: I( ~.. n ~.. wl5 d :. ~;~ '1 ~ P~\.~ .~ r) ,....1"" \ / ti "~.'~~ ..~.'" r ./ \ .I\/~ .. \ !~ L:"~"~ \ L L l L" =::cc - ~ --- ~, , - C> ... l!! lr: U CIl ... C> !l' -~~ ~ ~O,,~ Y1,,' "' ," --- R.I. EI"'. OrlJ)hlCl In. €> COP\ RIQHT 1'.' , 1 -"" ,.. ~~ :a " .. . . ~'it;'J-l:;~~:~,)> ~'i(J: <W'"';;'", \ . . . . ......K. ~.'" "', .... 00,) ~"'''Q'''' ...-' ~. .....taO.-f 0 N.."... ~............. . .. -~... :; ~:~:'-~.-1':' ., '.. .,.. ..... n .7:~-,~:':~-~:'- In.nsJeL.from.N9 '.- :!24H.... Qrigj naJJY,..r~!!bJ~rl!d J;J1L~ j !1!IL !.I~y -l!L~MQ,_I\,-I!....J~!!l. IlegisleLQLUtl!lL2.5~i!g!LJ...J1a~Jll1!9!on County, Minnesota.. - - '--'--" -"--'--ProceedTn~ No. 811- SJrATII~ 0' >>'IBNNH~SOTA ~ _ ~ .BlfiM'lrn@IlQ ::;.- · S S ~2;")r COIINTV 01' \VA.-~IIIN(1I'ON ~ df~j,(~/tJ;ctJI.'t/f{ /A:,/.~_.._____.___ TH E C [TV OF SIlLLWAlER.J-.Mun:l.t.ll!i!J~.Jl.tiltt OD-.Um!eLth.e...l ilWU!LthUtllLQLJ1inne5.ll.ta ---------- ?lfiJ/OJ:tILEiJUdlLst~eL JJ/l.a,~c Ity___~ S t Illwilter ~mr/y-;o/- Washl!1~____ ,(l.7lo?91nk~(}P_.~l!!!.neso!!.... _JL 41~,dA~ ..Dfu71l'l/ ryf'.a?ueJh.kt h:,~'t;I;e7l-:/JI'/-dim/l;e. ____ '-'-' ".......,...-.. -"""'j---;--- --;".------.--.-.------;-----. -j .~-----' .-- -) /",- -.-;~-_._--_.. (- )----.... ~ -.-- ,(I AI mlm :./Arfr/r;II~( N?:'rk-JCJ('tf:.,p"~ N(~ Olh/fl/flt",. /A'r., (;(1(( "'Y'fJ/YI;"J& J~11i'll flllfl. /!fl!"'f'j!flm IIflJfI!fl. That part of Outlot X of OAK GLEN according to the plat of record In the Office of the County Recorder, I~ash!ngton County, IIlnnesota described as follows: Beginning at the most southerly southwest corner of said Outlot X, also beln!! a point on the southerly right-of-way line of the abandoned Minneapolis and St. Paul Suburban Railway Company; thence North 00 degrees 52 minutes 08 seconds West, bearing oriented to the plat, along the westerly line of said Outlot X a distance of 130.10 feet; thence North 48 degrees 03 minutes 24 seconds East 206.35 feet to the southerly line of Ea!!le Ridge Place as dedicated on said plat; thence southeasterly along said southerly line and a curve, concave to the northeast, having a radius of 60.00 feet and a central angle of 54 degrees 47 minutes 34 seconds, a dl stance of 57.38 feet, the chord of said curve bears South 69 degrees 20 minutes 24 seconds _, East 341.63 feet to said southerly right-of-way line and the southerly line of said Outlot X; thence northwesterly along said southerly rlght- of-way 11 ne and a curve, concave to the southwes t hav! ng a radius of 905.37 feet and a central an!!le of 16 degrees 29 minutes 13 seconds, a distance of 260.52 feet, the chord of said curve bears North 69 degrees 32 minutes 28 seconds West, to the point of beginning, containing 56,093 square feet, n~re or less. !J':,~/t'Ctl(O 11f" ""rt""I"""",~. /'ellJ ,,,,,1 ,..t"""J/o",l"tl:;lh" "'"",nn',,1 ",,,1,.,,,,,,,,"11,,,, n" ",,,I""J,,,I/",,,,,,o,,: "."4 J"I,,,,,, In Ih~ / "':Ih.tJ 0" o"",.",tl"a".c,.J J"/JiJl.,.,'.7' ". ;'"nr"",I,,,1 ill .'/~clt"'", .:i(JJ'.~.i. .,./I.',.,.,.'nl.. .'.Il"I"I"J ",,,,,,1,,1,.,1. o",,,,,./:;: I. 2f~,tJ. claiml. 01< "~71.1J '''''JiIl7 (I" ..."lJli'~'1"",/"" M~ /'''10 "" Mo r C~lIJltI"I,"'" ,y. M" 011",1,.4 .9Ial"J. ,,,If,c,{ IA,. Jlnltl ca,.."fJI 1'~'1'It'nl 10 ,tj1/tr.nJl ~ ",ccn",/' .t. !Yl" "e,. f'j' a,,:; ""al ;''''10",,1,1 In.r. n" 0""'"''' "JJ"JJ",,,d I~" ,,,If'-"/'.IIf,. /',."1/',,, ",,11"',,0, ,,,/'1 "11/'"I"lu/II."",,,,/0-"" .1. .t:>/"JI" le"J" fi" a ;'"",'onf 0'0/ "".".,,,,1...,,. 1/"""" Y"""J ,,,I,,,,. 1/'""" ,j ""1",,1""""1,,.1'0" ,:/11.,,1'''''''"'''' 1/',,,,,",,,1,,,,. .#. .91// nj/dJ i.. fullu. 1f~71f"ta YJ "fo" I/'" /'",,1. s. .%"..( "':11.1 "j'alt/t"al. "" "'/1/"/10,,/0""1' ,,,,,1 ty",lcJ( M" '01'(,-""1,,,,, IIJ,. "1/'",,,.,1 '/I 1/'" "1"'1'1,.,,, G. .1i,,, "':11.1.1 n/ a"/I fn'J"" ,'" fOJJrJJioll lI,ul"" tI""" 0" ("(>,,1"''''(1'''' ,1",.,lli."", M" ",,,,,,.,, t(1/'" """/'l,~.,.I" tfltl/e, 7. .';",'l tJ"lJlnn~/",~'7 11I,..,.An """.J tSII "~9/'/J 'r/',.,~. II"~Y ,..,./,1 In"lr, Jlorl,i'"J .;l~ .f'II,. ,jll.! 7. :Y7/;,~/AO'Jm~____, ___._______ _n. ". -.--.------.-.AJjf',(f/A'tUTf7lJX'/. .4l1attecd~____ ________ ________ ---.--flnd,j)tl4ZaHV. ~ ,a(4( In "lhles..~ H1tfU'fJOC JAal.'e' A""m/..- .J"IfJ""tC""m,y"."zme',8ru/.n#~-'Ae-.J_/ R/my-,#_' '/;(,j, Slxt~ent~.~rA'/--Dctob~r ../.P~ 0...(' ."J ~,. I" "'{,f. IAd.....,"'-, , t7 9(l?,Jli"t,.piI:.J, $,,,,,,,1;"'4.. w", ~. ,flt.JhN,?,:M'",II"m.k,?/!//, By' rJ7..11111tt..1J DC 477) ~~R_"___,~ . ~ ":,~':' '. 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 eeller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, nd 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. . Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 1004B 6-93 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 . the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the arket ,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 interior and exterior areas of 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: XXXX Ea~le Ridge Place. Stillwater. Minn. 55082 APPRAISER: SUPERVISORY APPRAISER (only if required) Signature: Name: Robert . Lara ette Date Signed: Mav 29th 1991 State Certification #: or State License #: 4001432 State: Minn. 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 Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 LAYFAYETTE APPRAISALS REAL ESTATE APPRAISERS Appraisal Education: ROBERT C. LAFAYETTE QUALIFICATIONS University of Minnesota Principles of Techniques of Real Estate Appraising (101). Real Estate Law, Financing and Fundamentals of Real Estate Practice Advanced Real Estate, Also in 1985, seminar on Federal Home Loan Bank Board's R-41B Memorandum. Hennepin County Vo- Tech Society of Real Estate Appraisers (Mpls. Chapter) Sponsored (201) or Income Property Valuation, Ellwood Theory, etc. Also numerous seminars on Real Estate Appraising. Lakewood Junior College S.R.A. 101 Course Macalester College S.R.A. Narrative Seminar, R-2 Exam University of Arizona Farm/Ranch Rural ~ppraising AHP Energy Seminar Energy Associates, State Certified Energy Auditor University of Minnesota Adjusting for Financial Dilference in Residential Properties, R41 C Seminar University of San Francisco Society (SREA) 201 Course AIREA - Residential Valuation - UNW of Minnesota - September 1987 AIREA - Standards of Professional Practices/Ethical - University of Minnesota _ March 1988 New Construction Seminar - Pro Source 1992 Appraisal Institute - New URAR Form Seminar 1993 Appraisal Seminars/Courses 1994 to present Ameribank American Residential Mortgage Bayport State Bank Beneficial Mortgage/Finance Coldwell Bankers Cherokee State Bank Chisago County State Bank CitiCorp Savings Co. City of Stillwater 1 st Bank Cottage Grove Easlern Heights Slate Bank Edina Financial Services FBS Mortgage Federal Financial Corp. FHA Panel Appraiser Firstar Home Mortgage Firstate Federal Savings & Loan LIST OF ASSIGNMENTS AND CLIENTS First Bank System First Gilbraltar Mortgage Corp. First Federal Savings/Wisconsin First Edina Morgage First National Bank SI. Paul Firslar Bank(s) First American Bank SI. Paul Fleet Mortgage Corporation Fullerton Financial Corp. Lake Elmo State Bank Manufacturers of Hanover Mortgage Marquette Bank, Minneapolis Metropolitan Financial & Bank MN Mining & Manufacturing Northstar Norwest Bank Norwest Mortgage Inc. The Phalen Bank, SI. Paul PHH US Mortgage Prudential Relocation, Georgia PHH Relocation. Oak Brook, ILL Regency Mortgage Corp. Relocation Resources, Boston, Mass. Residential Financial Corp. Roseville State Bank Sears Mortgage Corp. Shearson/American Express Sussel Corporation Town & Country Bank Maplewood Twin City Federal Savings Bank . United Mortgage Corp. Washington County Condemnation Commissioner City, County & State Credit Union Various attorneys, also have worked on condemnation appraisals for the Minnesota Highway Department and the Housing and Redevolopment Authorities for Dakota and Ramsey Counties, SI. Paul. Review appraiser for above clients as well. Review appraiser - Washington County Housing & Redevelopment Authority Washington County Housing Commissioner (H.R.A.), Chairman, 1980-1991 Held appraisal seminar for lenders, FHMA residential/income property forms/USPAP updating. Federal National Mortgage Association 1/ 1 035022 1983 appraised (12) Savings & Loan Institutions throughout the State, United Federal, 1 st Federal and Washington Federal branches for "Appraisal Equity Capital" filing with the "Federal Home Loan Bank Board" MINNESOTA LICENSE #4001432 J I have been appraising real estate on a full time basis since 1973 e CITY OF STILLWATER CAPITAL OUTLAY PROGRAM Expenditure and Revenue Summary Proiect Type Estimated Year of Expenditure 1997 1998 1999 2000 2001 Operations $1,077,845 $1,075,600 $1,060,650 $900,950 $526,000 ;~8ZiC"() Potential Projects $2,341,000 $': .:....ft.~ AAO $5,680,000 $2,610,000 $11,960,000 GRAND TOTAL $3,418,845 / !:,/i7C1i.l) ~() $6,740,650 $3,510,950 $12,486,000 ",. ..,..vv Potential Financing: Property Tax - Operations $1,077,845 $1,075,600 $1,060,650 $900,950 $526,000 Property Tax - Potential Proj $556,000 $5,095,000 $2,925,000 $530,000 $2,030,000 Service Charges $210,000 $150,000 $80,000 $150,000 . Special Assessments $932,000 $3,630,000 $2,675,000 $1,630,000 $3,130,000 TIF $450,000 $3,245,000 $150,000 $6,800,000 State Grants $160,000 $1,000,000 $150,000 Contributions $33,000 $2,775,000 TOTAL $3,418,845 $16,970,600 $6,740,650 $3,510,950 $12,486,000 . 16-Jun-97 e DEPARTMENT & PROJECT ADMINISTRATION Local Area Network Computer & printer upgrades Software Office furniture Video projector Copy Machine Total Administration FINANCE Office Equipment P.C., software & printer upgrades Software Total Finance POLICE Personal computers Workstations & printers Printers Oxygen kits for squads Preliminary breath testers Office furniture & fitness equip. 3 Marked squads, equip. changeovers 2 Marked squads, equip. changeovers Additional squad for fleet Outfit the additional squad Personal computers Protective vests 2 radar units (replacements) New camera equipment 2 oxygen resuscitator units (replacements) 2 Marked squads, equip. changeovers Personal computers Protective vests 2 radar units (replacements) Preliminary breath testers 4 Records printers 4 Cellular telephone replacements . 17 -Jun-97 CITY OF STILLWATER CAPITAL OUTLAY PROGRAM Operations ESTIMATED YEAR OF EXPENDITURE 1997 $18,000 $5,000 $1,000 $24,000 $5,865 $3,200 $9,065 $2,400 $2,500 $1,200 $1,400 $900 $10,000 $66,600 1998 $5,000 $1,000 $2,000 $20,000 $28,000 $3.800 $5.000 $2,500 $11,300 $48,800 $24,400 $13,900 $4,800 $600 $6,000 $1,000 $2.000 1999 $5.000 $1,000 $2,000 $8,000 $2,500 $5,000 $7,500 $74,700 $10,500 $1,250 $6,200 $900 $2.600 $1,200 2000 $5,000 $1,000 $2,000 $20,000 $28,000 $2,500 $5,000 $7,500 2001 $5,000 $1,000 $2,000 $8,000 $2,500 $5,000 $7,500 ESTIMATED YEAR OF EXPENDITURE DEPARTMENT & PROJECT 1997 1998 1999 2000 2001 Police, ctnd. 3 marked squads, equip. changeovers $77.000 2 radar units (replacements) $6,400 Used Vehicle for CSO $30,000 Protective vests $650 3 marked squad cars, equip. changeovers $78,500 Protective vests $10.000 Total Police $85,000 $101,500 $97,350 $114,050 $88,500 FIRE Computer & printer $5,000 $5,000 $5,000 Vacuum cleaner $250 Pump cans $1,800 $1,800 Portable exhaust fan $1,500 Base radio $15,000 Radio $650 Chevy Blazer for Fire Chief $20,000 Refurbish 6107 (Pumper) $150,000 10 S.C.BA's $20,000 New grass fire rig $50,000 New hose $20,000 New ladder truck $375,000 $375,000 -- Total Fire $44,200 $171,800 $400,000 $425,000 $5,000 . BUILDING INSPECTIONS Pick-up truck $20,000 $20,000 Personal computer & printer $5.000 $5,000 Database software $10,000 Software updates $5,000 $2,000 $2,000 Total Building Inspections $15,000 $5,000 $22,000 $0 $27,000 COMMUNITY DEVELOPMENT Computer software $1,000 $1,000 $1,000 $1,000 Computer & printer $5,000 $5,000 $5,000 Map file $500 Office furniture $1,000 $1,000 File cabinet $300 $300 Car $15,000 ,.. Total Community Development $5,000 $2,800 $21,000 $2,300 $6,000 PUBLIC WORKS Pickup $15,000 Computers $10,000 Copier $6.500 . Office furniture $9.000 File Systems $3,000 Plotter $3.500 17 -Jun-97 2 ~ ESTIMATED YEAR OF EXPENDITURE DEPARTMENT & PROJECT 1997 1998 1999 2000 2001 ublic Works, ctnd. Pickup $30,000 GIS System $10,000 Computers $4,000 File Systems $3,000 Pickup $15,000 Office furniture $3,000 File Systems $3,000 Computers $5,000 Total Public Works $47,000 $47,000 $21,000 $0 $5,000 STREET One ton truck $30,000 Plow truck $85,000 Plow truck $85,000 Compressor $15,000 Sweeper $115,000 Tar Kettle $20,000 One ton truck $30,000 . Loade, $85,000 Compressor $85,000 Total Streets $115,000 $0 $100,000 $165,000 $170,000 SHOP Shop roof $50,000 Shop trailer $30,000 Salt-sand/out building $200,000 Misc. equipment expenditures $20,000 $20,000 $20,000 $20,000 Total Shop $0 $300,000 $20,000 $20,000 $20,000 TOTAL GENERAL FUND $344,265 $667,400 $696,850 $761,850 $337,000 SEWER Jetter $175,000 Lift Station Repair $30,000 $30.000 $30,000 $30,000 One ton truck $30,000 $30,000 $30,000 Aiple lift station $15,000 Lily Lake lift station $15,000 Myrtle St. lift station $30,000 . Public works facility design $50,000 Public works facility land $200,000 TOTAL SEWER FUND $340,000 $235,000 $60,000 $30,000 $30,000 17 -Jun-97 3 - ESTIMATED YEAR OF EXPENDITURE DEPARTMENT & PROJECT 1997 1998 1999 2000 2001 ARKS Pick-up truck (replacement) $15.000 Push Mowers $1,800 Weed Whips $400 In-field grooming machine $15,000 Wind screens for tennis courts $1,800 Basketball court - Staples $25,000 Play equip. (replace) - Sunrise $30,000 Overlay tar area - Ramsey $8,000 Privacy fence - Benson $3,000 Rebuild wall, Pioneer Park $185,000 Boardwalk, walking path Mckusick $50,000 Utility van - replacement $24,000 Kubota & attachments (replacement) $27,000 Thatcher for sweeper (replacement) $2,100 New flower gardens, north & south ends $6,000 Rebuild monument - territorial prison site $15,000 Basketball court - Scholenberg $25,000 New horseshoe pits - Northland $13,000 Rebuild sidewalk - Lowell Park restrooms $1,500 Storage building - Parks dept. $20,000 Kubota & attachments $26,000 Portable generator (replacement) $3,200 . Lawn sweeper $21,000 Play equip. (replace) - Northland $15,000 Picnic shelter - Northland $20,000 Rebuild Willard St. steps $12,000 Rebuild Main St. steps $110,000 Ball field lights - Bonse $30,000 Ball field lights - Croixwood $40,000 Pick up truck (replacement) $28.000 Push mowers $2.100 Lawn tractor (replacement) $21,000 Fence basketball court - Benson $9,000 Rebuild hockey rink - Croixwood $11,000 Plow truck wI sander $50,000 Tractor loader (replacement) $48,000 Tree spade $21,000 Smithco sweeper $27,000 TOTAL PARKS FUND $335,000 $133,600 $277,200 $71,100 $146,000 LILY LAKE Fence on ballfied backstop - Lily Lake $3,000 . Picnic area & boardwalk - Lily Lake $20,000 Timers & Lighting - Lily Lake $5,000 Winter encl. & heater - forks for skin loader $3,100 17 -Jun-97 4 DEPARTMENT & PROJECT i1y Lake, ctnd. Picnic shelter - lily Lake play area Play equip. (replace) - Lily Lake TOTAL LILY LAKE FUND LIBRARY Paperback spinner Microfiche reader/printer Kid's catalogue Adaptive technology for ADA Computers Printers Telecommunications upgrade Office furniture Office shelving ADA compliance Landscaping Signage Public access terminals/printers Software upgrades Computers Printers CD ROM workstations . ADA compliance Office furniture Adaptive technology for ADA Computers Printers Software upgrades CDROM workstations ADA compliance Office furniture Public access terminals/printers Computers Printers Software upgrades Photocopier ADA compliance Microfilm reader/printer lighting Improvements Furnishings, AV for Margaret Rivers Room Office furniture . Adaptive technology for ADA Computers Printers Software upgrades 17 -Jun-97 ESTIMATED YEAR OF EXPENDITURE 1997 1998 1999 2000 2001 $20.000 $10,000 $31,100 $20,000 $10,000 $0 $0 $580 $2.200 $4.200 $500 $4,000 $1,000 $7,800 $700 $500 $3,000 $2,000 $1,000 $5.000 $1,000 $4,000 $1,000 $3,600 $3,000 $2,000 $2,000 $4,000 $1,000 $1,000 $3,600 $3,000 $2,000 $5,000 $4,000 $1,000 $1,000 $7,500 $3,000 $7,500 $2,000 $5,000 $2,000 $2,000 $4,000 $1.000 $1.000 5 ESTIMATED YEAR OF EXPENDITURE DEPARTMENT & PROJECT 1997 1998 1999 2000 2001 ibrary, ctnd. ADA compliance $3,000 Office furniture $2,000 TOTAL LIBRARY FUND $27,480 $19,600 $16,600 $38,000 $13,000 GRAND TOTAL OPERATIONS $1,077,845 $1,075,600 $1,060,650 $900,950 $526,000 . . 17 -Jun-97 6 . CITY OF STILLWATER CAPITAL OUTLAY PROGRAM Potential Projects Council Consensus Ranking Years 1998 - 2001 = revenue-identified projects . Project Title 1998 1999 2000 2001 1998 - revenue undetermined Ice Arena/Community Center $6.000,000 Public Works Facility $1,500.000 Lily Lake Pump Station $105,000 Match Donation Pioneer Park $150.000 Environmental Clean up $100.000 Armory $1,000,000 Downtown Lighting $950,000 New Construction Pioneer Park $150.000 Parking Ramps $1.500.000 Prison Wall Repairs Phase I $200,000 Disc Golf $100,000 1998 - revenue identified Annexation Area - Trunk $2,000,000 Hwy 36 Frontage Impr $700,000 Sidewalk Rehabilitattion $60,000 Curve Crest Mill Overlay $250.000 1998 Street Imp. S. 1st St 00.000 Industrial Park Lighting 0,000 Elm Street Ravine $300,000 1999 - revenue undetermined Purchase 30 acres/annexation area $600.000 Environmental Clean Up $100,000 Purchase Athletic Field from ISO $275,000 New Library Branch $1,500,000 1999. revenue identified 1999 Street Improvements $1,000.000 Annexation Area Trunk $2.000,000 1999 Sidewalk Rehabilitation $60,000 Holcombe Sidewalk $40,000 Hazel Street Ravine $105.000 2000 - revenue undetermined Environmental Clean Up $100.000 Prison Wall Repairs Phase II $300.000 2000 . revenue identified 2000 Street Improvements $1.000,000 Annexation Area Trunk $1,000,000 Lily Lake Storm Sewer $150,000 2000 Sidewalk Rehab $60,000 2001- revenue undetermined Build park - Aiple property $800,000 North Hill sewer $3,000,000 Environmental Clean Up $100,000 Rebuild Lowell Park $6,000.000 2001 - revenue identified 2001 Street Improvements $1,000,000 Annexation Area Trunk $1,000,000 2001 Sidewalk Rehab $60,000 Total revenue undetermined improvements $11,755,000 $2,475,000 $400,000 $9,900,000 Total revenue-identified improvements $4,140,000 $3,205,000 $2,210,000 $2,060,000 Grand Total $15,895,000 $5,680,000 $2,610,000 $11,960,000 e 17-Jun-97 e :i" <C . . 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