HomeMy WebLinkAbout[07e] Purchase Former Kenneday •
CITY OF ST. JOSEPH
v v a citvof stjosrph.corn
Date: April 17, 2013
Administrator Memo To: Members of the EDA
Judy Weyrens City Administrator Weyrens
Mayor Memo From: Cynthia Smith-Strack - MDG, Inc.
Rick Schultz
RE: Purchase of Former Kennedy Elementary School
Councilors
Steve Frank
Bob Loso Background
Renee Symanietz This agenda item is a request from Mayor Schultz. The Mayor is requesting the EDA examine
Dale Wick the potential of purchasing the former Kennedy Elementary School at 316 South 1st Avenue.
Attached please find excerpts from a commercial appraisal completed on the facility in 2008
EDA along with information on the parcel from our GIS system.
Doug Danielson
Steve Frank The appraisal put the value of the 54,600 sf facility and 16.94 acres of land at$3.5M. The
Larry Hosch building was built around 1967 and is in `average to good' condition.
Gary Osberg
Dale Wick Potential reuses for the building could presumably include a community center and/or lease
space for office/commercial.
Purchase of the building has not been included in the EDA's capital budget.
Action
Discussion is kindly requested by Mayor Schultz.
DataViewOnline Parcel Report Page 1 of 1
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BAKER s� BAKER s Report
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Parcel ID 84534570005
,000406k House
0 213 Number
227' Street
C:ALLAV`lAY ST 235' City
f3pI Owner INDEPENDENT
````el
` �� SCHOOL DISTRICT
t Name 1 No742
SZA Disclaimer: This map is neither a legally
0 309, recorded map nor a survey and is not
0 O 0 315 intended to be used as one. This map is a
p compilation of records, information and
11, 0 321' data from city, county, state and federal
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City of Saint Joseph Search purposes only.
Parcel ID 84534570005
House Number 0
Unit
Street
City
Zip
Owner Name 1 INDEPENDENT SCHOOL DISTRICT No742
Owner Name 2
Owner Street 1000 44TH AVE N SUITE 100
Address
Owner ST CLOUD MN 56303-2037
City/State/Zip
Deeded Acres 16.9
16.94 A. PART OF SE4SW4 and PART LOT 31 AUD SUBD 4
DAF: COMM AT NE COR SE4SW4 -
Tax Description S 686 - W ALG N ROW TO E LN LOT 31 - CONT W TO CL OF
WISCONSIN ST - N 274- E 21
.95- N 136.14 TO N LN LOT 31 - E TO POB
Plat Name Lot 031 SubdivisionCd 84001 Subdivision*
Market Value Land 508200
Market Value 3328200
Building
Market Value Total 3836400
Homestead 5E-Exempt Properties
Description
Year Built 0 --)
https://www.mypermitrack.com/sehsvc/html/dvo/parcelReportjsp 5/15/2013
L1GIN LAW LItIt
Real Estate Services
919 West St.Germain, Suite 2000
St. Cloud, MN 56301-3407
Phone (320) 251-0653
Fax (320) 255-1631
Email lenzmcier@r charter.net
www.lemrneicrrcalcstare.com
February 25, 2008
• APPRAISAI.
Mr. Kevin Januszewski, • BROKERAGE
Executive Director, Business Services
St . Cloud School District • CONSULTING
1000 44th Avenue North, Suite 100 • DEVELOPMENT
St . Cloud, MN 56303
• EVALUATION
Re: Appraisal of Kennedy Elementary School
located at 316 South 1st Avenue, St . Joseph, MN • FEASIBILITY
School District 742, owner
Dear Mr. Januszewski :
At your request I have undertaken an investigation and
appraisal of the property referenced above. The purpose of the
appraisal is to estimate the "as is" market value of the
vacant land in fee simple, as of January 30, 2008 . As a result
of my investigation it is opinion that the market value of
the subject property is :
$3, 500, 000
(THREE MILLION FIVE HUNDRED THOUSAND DOLLARS)
This appraisal is subject to the limiting conditions as
presented beginning on page (i) of this report and the
following specific items .
The scope of this appraisal is the valuation of land and
improvements .
Thank you for the opportunity to serve you in this matter. For
further information concerning the supporting data and
rationale of my conclusions, your attention is directed to the
following report .
Respectfully submitted,
(a( k.
Alice Lenzmeier, IFAS
Min. Lic. — 400395
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EXECUTIVE SUMMARY
RESULTS OF THE APPROACHES TO VALUE
COST APPROACH: $3, 945, 000
MARKET APPROACH: $3, 005, 000
INCOME APPROACH: n/a
FINAL CONCLUSION OF VALUE: $3, 500, 000
SITE SIZE: 16 . 94 acres
GROSS BUILDING AREA: 54, 604 Sq. Ft.
ZONING: Public
DATE OF VALUE: January 30, 2008
HIGHEST AND BEST USE: Public use
PROPERTY RIGHTS APPRAISED: Fee Simple
PROPERTY LOCATION: 316 South 1st Ave, St Joseph, MN
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