06-18-2007 - Laserfiche WebLink

Commission Minutes-June 18, 2007 3216 Mr. Klein said property owned by David Lampl located at 404 10th Avenue NW in West Fargo was discussed at the last meeting. Mr. Lampl owns a manufactured home and feels the home lacks market appeal due to difficulty with financing such properties. Based on a review of the data and a visit to the property, Mr. Klein feels the assessment is correct and recommends no action be taken on the appeal. The property owner was notified of the recommendation before today's meeting. Mr. Klein said Oak Street Apartments LLC property located at 2322 Meadow Ridge Parkway in West Fargo is owned by Ron Odegaard and are valued at $486,000, which Mr. Klein feels is a fair assessment. Mr. Odegaard purchased the property for $400,000 in 2003. Attorney Katrina Turman was present today, representing Mr. Odegaard. She said the purchase price is irrelevant as this is a long-term investment and using the income capitalization method, feels $330,748 is a fair value on the property. Mr. Klein reviewed the income and expense statement and does not place much reliance on the methodology used because it provides too much allowance for expenses and the capitalization rate is too high. He recommends no action be taken on the appeal. Mr. Klein said property owned by Steven Stavenes located at 406 Woodland Place NW in Reed Township is assessed at $278,000. Mr. Stavenes submitted a private appraisal that indicated an assessment of $247,000 and a purchase agreement with a price of $231,000. The warranty deed listed a full consideration of $280,000. Mr. Klein visited with the property owner and Mr. Stavenes could not explain the difference in the full consideration compared with the appraisal and purchase agreement. Mr. Klein recommends no action be taken on the appeal; however, if the property owner provides additional information regarding the purchase price, further review of the assessment may be a possibility. Mr. Stavenes was notified of the recommendation before today's meeting. Mr. Klein said Lynn Utke owns numerous parcels of agricultural land in Highland Township and is asking the valuations be reduced. According to a purchase agreement with the Maple River Water Resource District, the property owner is granting a water flow easement in return for $50,000 plus additional land subject to a flow easement. The productivity of the land has diminished and Mr. Utke wants the assessment to be reduced. Mr. Klein said the amount of reduction is at issue, and since the purchase agreement has not been recorded and property rights have not yet been transferred, he is recommending no action be taken at this time. He has spoken with Mr. Utke, who was notified of the recommendation before today's meeting. MOTION, passed Mr. Pawluk moved and Mr. Vanyo seconded that the inundated land classification requests be approved for the acres listed as follows: Motion carried. Owner Steve McLeod Ken Weshnevski Ken Weshnevski Willa Johnson Willa Johnson Leqal Description SW X 36-142-54 Part NW X 22-141-55 Part SW X 22-141-55 SW X 6-140-55 SE X 6-140-55 Inundated Acres Approved 40 24.4 18.5 18.1 16