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• <br />CITY OF ORONO <br />Local Board of Appeal and Equalization <br />Wednesday, April 21, 2010 <br />7:00 o'clock p.m. <br />marketplace but that his appraiser did make adjustments for those. Blankensnip noted Ms. Brown has <br />been a full -time appraiser for the past four years and is independent. She was hired by Wells Fargo to <br />conduct the appraisal as part of the refinancing. <br />Blankensnip indicated he has also talked with friends and builders who construct homes in this price <br />range and asked if they would buy his property for 1.5 million and was told they would not. There is <br />currently not a market for this type of house. <br />Murphy noted he had his home appraised in July at the same standards and that his appraisal came out <br />$300,000 less than what his house was valued at by Hennepin County. The appraiser also had a difficult <br />time finding comparables. <br />Stulc stated they just received the appraisal yesterday and would need time to review it. <br />White asked how many feet of lakeshore there is. <br />Blankensnip indicated there is approximately 300 feet of lakeshore and that he does not feel $1.9 million <br />is a fair price. <br />The Board requested the Hennepin County Assessor's Office contact Mr. Blankensnip. <br />Stulc stated they will contact each person that appears tonight and prepare a recommendation packet <br />• based on all the information that has been submitted. Following this meeting of the Local Board of <br />Appeal and Equalization, the residents will have the ability to go before the Hennepin County Board of <br />Appeal and Equalization. A full appraisal will be completed and each resident will have the opportunity <br />to appear before the Hennepin County Board. <br />3. BERT ADDISON, 3390 BAYSIDE ROAD, 305 Tonkawood Avenue, PID #05- 117 -23- 130029 <br />Addison stated a couple of years ago they had an offer on the property but the prospective buyers were <br />told by the City that it was an unbuildable lot. <br />White asked how big the lot is. <br />Addison indicated it is a 50 -foot lot. <br />White asked why it would not be buildable. <br />Addison stated they had a very nice offer on the lot but that they were told by the City approximately two <br />years ago that it was not buildable. There is sewer to the lot. Addison stated he would like to know what <br />the status of the lot is. <br />White stated according to the Hennepin County Assessor's Office, it is a buildable lot. <br />Murphy requested City Administrator Loftus check on the status of the lot. <br />doKunik asked if they had a certain size structure that the prospective buyers wanted to put on the property <br />and were turned down. <br />PAGE 3 of 6 <br />