HomeMy WebLinkAbout1991-01-22 NAC Ltr to WC Assessor F N Northwest Associated Consultants, Inc.
A C U R B A N P L A N N I N G - D E S I G N - M A R K E T R E S E A R C H '
22 January 1991
Mr. Ed Hervin
Washington County Assessors Office
14900 61st Street
Stillwater, MN 55082
RE: Oak Park Heights - St. Croix Mall TIF
FILE NO: 798.02 - 89.09
Dear Mr. Hervin:
I am responding to your request for the valuation the TIF project
placed upon the St. Croix Mall expansion.
Please be advised that the St. Croix Mall TIF project had no
assessment agreement establishing a minimum valuation. This is a
"pay as you go" TIF project. No bonds were sold by the City to
provide front end assistance. Hence, there was no need to
establish a minimum evaluation.
The only value estimate I saw was Mr. Scott Renne's letter of
July 5, 1989. That letter estimated a $5,007,000 increase in
valuation to $8,417,300. Before you are influenced by these
numbers, one would want to verify that the actual development
completed corresponds to the proposed development.
I would appreciate your informing me of your final determination
of value.
If you have any questions, please call.
Sincerely,
NORTHWEST ASSOCIATED CONSULTANTS, INC.
Daniel Wilson
Director of Financial Analysis
cc: LaVonne Wilson
4601 Excelsior Blvd. • Suite 410 • Minneapolis, MN 55416.(612) 925 -9420 • Fax 925 -2721