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ASSUMPTIONS <br />This study was limited to the site as described in the next section. Although an <br />appraised value was determined for the entire site, the cost of developing a new camp on <br />an entirely different site is beyond the scope of this report. <br />The 1985 Means Building Construction Cost Data Guide was used as a basis for building cost <br />comparisons. However, until ar, actual progr,,m is developed, new buildings designed, —I a <br />scope of remodeling completely defined, these costs are only approximations based upon the <br />development of the Camp as described in this report. <br />The appraised land values were developed by Appraisal Associates of Hamel, Minnesota. <br />BecaL.se of the limited number- of islands in Lake MinnetL.rka, and a limited number of <br />offerings, the appraisal used sales over the last seven years in an attempt to arrive at a <br />reasonable estimate of fair market value. A'copy o: -e Real Estate Appraisal REnort is <br />availaole for review. <br />Site drawings are .,tid upon an aerial photograph by Mark Hurd Corporation, April, 1985, <br />and topography from a map prepared by the U.S. Geological Survey dated 1958 and revised in <br />1972 and 1975. A new registered land sur,py has not been commissioned for this property. <br />