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Apr-21-2010 16:18 Waldron Law Offices, Ltd. 952-471-8859 2�q <br /> JOI7N B. WALDTtON <br /> 1951 CONCORDL4 STREET <br /> 'GVAYZATA,NIINN�SOTA 55391-93Z0 <br /> TLLLPHONE(952) 471-0940 email john@waldronlaw.com <br /> FAX(952) 471-8859 <br /> Apri121, 2010 <br /> Orono City Council, acting as <br /> Local Board of Appeal and Equalization _ FACSXNLQ�E AND U.S. MAIL <br /> 2750 KBlley Parkwa�► <br /> Orono, MN 55356 <br /> Re: 1951 Concordia Street,Orano,P.I.D. No. 18-117-23-�4-0011 <br /> Dear Board Membezs: <br /> The puipose of this 1ette�r zs to contest �the Valuation Notice we received for the above <br /> property foz'Assessment Year 2010. While there was a zeduction from 2009 (from$882,000.00 to <br /> �$51,000.00),we do not f881 the reduction was sufficient. We hava discuased these concerns with <br /> Tom Kunik of the I�ennepin County Assessor's Office and he has declined to make any adjustment. <br /> WB feel the closest comparable is 1935 Concordia Sueet, which has the same amount of <br /> lakeshore and which sold in late 2009 �or$600,000.00. A copy of the lxsfing infarmation for this <br /> �ro�erty is enclosed.The County Assessar informs us that this sale was a"short sale"and thexefore <br /> is not considered an arms-length transaction or is othexwise not considered a fair representation of <br /> fair market value.We disagree,based on fihe fact that this property had been on the market for what <br /> we believe to be at least two years, w�th no takers. At one point during this time, fhere was an <br /> auction foz the property whieh failed to produce an�acceptable buy�rs. C�iven the long perivd of <br /> time tlus propexty was on the market wi�h no buyezs,w�feel that the price for which this propexty <br /> most recently sold is, in fact, a true repxesentation af�air market value as o�January 2,ZO10. Our <br /> property is closely comp arable to this and we believe our assesaed valuation should be decreased to <br /> at least$700,000.00. The assessor has suggested 3585 Frederick Slxeet as a comparable,but that is <br /> a larger lat(.49 acres versus our .35 acres)with a much more substantiai house on it, <br /> Thank you for your consideratian, � <br /> ' cerely, <br /> J hn B. Waldron <br /> � <br /> L�nclosures <br /> � <br />