HomeMy WebLinkAbout2022/04/25 - ADMIN - Agenda Packets - City Council - Study Session AGENDA
APRIL 25, 2022
The St. Louis Park City Council is meeting in person at St. Louis Park City Hall, 5005 Minnetonka
Blvd. in accordance with the most recent COVID-19 guidelines. Members of the public can
attend in person or watch via webstream at bit.ly/watchslpcouncil and on local cable (Comcast
SD channel 17 and HD channel 859). Visit bit.ly/slpccagendas to view the agenda and reports.
5:45 p.m. STUDY SESSION – council chambers
Discussion items
1. 30 min. Boards and commissions – considering new commissions
2. 10 min. Proposed study session agenda topic
5 min. Communications/updates (verbal)
Written reports
3. March 2022 monthly financial report
4. First quarter investment report (January – March 2022)
5. Quarterly development update – 2nd Quarter 2022
6. 2023 Budget process and ARPA funding overview
7. Business terms for contract for private redevelopment with Real Estate Equities
8. Draft sidewalk policy framework
6:30 p.m. RECONVENE 2022 LOCAL BOARD OF APPEAL AND EQUALIZATION - council chambers
The agenda is posted on Fridays on the official city bulletin board in the lobby of city hall and on the text display on
civic TV cable channel 17. The agenda and full packet are available after noon on Friday on the city’s website.
If you need special accommodations or have questions about the meeting, please call 952.924 .2525.
Meeting: Study session
Meeting date: April 25, 2022
Discussion item : 1
Executive summary
Title: Boards and commissions – considering new commissions
Recommended action: None at this time. The purpose of this discussion is to review proposed
topics previously requested by the council related to the creation of new commissions and the
role of youth on commissions.
Policy consideration: Does the council want to include the consideration of new commissions in
the consultant’s scope of work for the boards and commissions program analysis?
Summary: The city council previously requested discussions on the proposed creation of two
new advisory bodies - a transportation commission and a youth commission – as well as a
discussion on the role of youth in all boards and commissions programming. As a result of the
request related to youth on commissions, membership opportunities and roles were expanded
where possible to include multiple youth positions with voting power. Recruitment for youth
positions has been and continues to be challenging.
On March 28, 2022, the city council supported engaging a consultant to evaluate and provide a
recommendation related to the structure, role, function, and authority of the city’s boards and
commissions program. If the council wants to pursue the creation of new boards or
commissions and explore opportunities to enhance the involvement of youth in current
programming, staff recommends the consultant evaluation include an analysis of these topics
to determine :
•Internal and external needs
•Capacity and resources needed to ensure both staff and council can effectively support
and manage programming going forward.
•Desired objectives and outcomes of new programming.
Including this in the broader evaluation of the boards and commission program will provide an
opportunity to assess if the creation of new advisory bodies is the appropriate strategy to
address needs or if opportunities exist to modify or leverage existing programs to achieve
desired outcomes. Evaluation of the recruitment and appointment process, including a focus on
youth positions, was already included in the proposed scope of work. The consultant’s work
and recommendations will be discussed with council in the fall of 2022 to determine next steps
and implement any changes prior to the start of the 2023 recruitment process.
Financial or budget considerations: Funding for any new boards and commissions, including
administrative costs, would need to be evaluated and incorporated into the 2023 budget.
Strategic priority consideration: St. Louis Park is committed to creating opportunities to build
social capital through community engagement.
Supporting documents: Proposed study session topic request – youth on commissions
Proposed study session topic request - transportation commission
Proposed study session topic request – youth advisory commission
Prepared by: Melissa Kennedy, city clerk
Approve d by: Cindy Walsh, deputy city manager/operations and recreation director
Study session meeting of April 25, 2022 (Item No. 1 ) Page 2
Title: Boards and commissions – considering new commissions
Study session meeting of April 25, 2022 (Item No. 1 ) Page 3
Title: Boards and commissions – considering new commissions
Study session meeting of April 25, 2022 (Item No. 1 ) Page 4
Title: Boards and commissions – considering new commissions
Study session meeting of April 25, 2022 (Item No. 1 ) Page 5
Title: Boards and commissions – considering new commissions
Study session meeting of April 25, 2022 (Item No. 1 ) Page 6
Title: Boards and commissions – considering new commissions
Meeting: Study session
Meeting date: April 25, 2022
Discussion item : 2
Executive summary
Title: Proposed study session agenda topic
Recommended action: City council and deputy city manager review the proposed study session
agenda topics and decide next steps.
Policy consideration: Does the city council want to move forward with the proposed study
session topic?
Summary: A proposed study session agenda topic related to a tree canopy percentage goal was
submitted for consideration. City staff provided a high-level analysis, including information related
to timeline and recommended disposition. The next step in the process is for council to decide, as
a group, if they would like to add the proposed topic to a future study session agenda. The item
may be included with other items already scheduled for discussion.
Topic Proposed by Councilmembers
Establish a tree canopy percentage goal Larry Kraft, Margaret Rog, Tim Brausen
Financial or budget considerations: Not applicable.
Strategic priority consideration: Not applicable.
Supporting documents: Tree canopy percentage goal proposal and staff analysis
Prepared by: Melissa Kennedy, city clerk
Approved by: Cindy Walsh , deputy city manager/director of operations and recreation
Study session meeting of April 25, 2022 (Item No. 2) Page 2
Title: Proposed study session agenda topic
Study session meeting of April 25, 2022 (Item No. 2) Page 3
Title: Proposed study session agenda topic
Study session meeting of April 25, 2022 (Item No. 2) Page 4
Title: Proposed study session agenda topic
Study session meeting of April 25, 2022 (Item No. 2) Page 5
Title: Proposed study session agenda topic
Meeting: Study session
Meeting date: April 25, 2022
Written report: 3
Executive summary
Title: March 2022 monthly financial report
Recommended action: No action is required.
Policy consideration: Monthly financial reporting is part of our financial management policies.
Summary: The monthly financial report provides an overview of general fund revenues and
departmental expenditures comparing them to budget throughout the year.
Financial or budget considerations: Actual e xpenditures should generally be at about 25% of
the annual budget at the end of March. G eneral f und expenditures are running approximately
2.5% under budget through March at 22.6%. Organized recreation expenditures are at 30% of
budget due to payment of the annual community education contribution of $187,400 to the
school district in February. This is a temporary variance and consistent with prior years.
Engineering is also at 30% due to a lesser portion of staff hours allocated out to projects in the
first quarter prior to the start of the construction season.
Revenues are hard er to measure in the same way since they aren’t spread as evenly during the
year, examples of which include property taxes and State aid payments. License and permit
revenues are near 50% of budget in March because much of the business and liquor license
fees have been received and there have been several larger commercial permits issued,
including the permit for Beltline Residences and the Phase II of Parkway Residences. The oth er
income of 35% of budget is private activity revenue bond fees.
Strategic priority consideration: Not applicable.
Supporting documents: Summary of revenues and departmental expenditures – general fund
Prepared by: Darla Monson, accountant
Reviewed by: Melanie Schmitt, chief financial officer
Approve d by: Cindy Walsh, deputy city manager/operations and recreation director
Summary of Revenues & Departmental Expenditures - General Fund As of March 31, 202220222022202020202021202120222022Balance YTD Budget Budget Audited Budget Unaudited Budget YTD MarRemaining to Actual %General Fund Revenues: General Property Taxes28,393,728$ 28,635,694$ 29,601,811$ 29,446,907$ 30,532,470$ 30,532,470$ 0.00% Licenses and Permits4,660,811 5,294,310 4,621,829 4,998,115 4,750,604 2,345,826 2,404,778 49.38% Fines & Forfeits280,000 126,192 231,000 150,965 231,000 21,150 209,850 9.16% Intergovernmental1,760,082 2,061,267 1,661,549 1,773,949 1,748,770 427,596 1,321,174 24.45% Charges for Services2,273,824 1,600,806 2,013,834 2,278,004 2,284,483 284,260 2,000,224 12.44% Rents & Other Miscellaneous1,456,102 1,201,119 1,499,091 1,493,432 1,589,934 373,625 1,216,309 23.50% Transfers In2,038,338 2,049,976 2,055,017 2,054,819 2,198,477 523,244 1,675,233 23.80% Investment Earnings 210,000 486,468 200,000 (506,561) 200,000 200,000 0.00% Other Income621,280 3,442,900 593,300 606,695 526,829 184,066 342,763 34.94% Use of Fund Balance25,000 250,000 250,000 Total General Fund Revenues41,694,165$ 44,898,732$ 42,502,431$ 42,296,326$ 44,312,567$ 4,159,766$ 40,152,801$ 9.39%General Fund Expenditures: General Government: Administration1,868,599$ 1,472,421$ 1,617,882$ 1,362,006$ 2,010,605$ 286,373$ 1,724,232$ 14.24% Finance1,124,045 1,194,828 1,129,591 1,190,180 1,178,516 253,137 925,379 21.48% Assessing808,171 792,277 798,244 767,705 821,530 201,627 619,903 24.54% Human Resources823,209 796,088 837,736 762,448 882,849 159,164 723,685 18.03% Community Development1,571,894 1,536,657 1,576,323 1,443,624 1,606,474 374,950 1,231,524 23.34% Facilities Maintenance1,265,337 1,246,439 1,349,365 1,413,873 1,407,116 326,134 1,080,982 23.18% Information Resources1,709,255 1,596,487 1,683,216 1,650,478 1,622,619 324,868 1,297,751 20.02% Communications & Marketing828,004 710,334 970,934 801,034 974,064 252,337 721,727 25.91%Total General Government9,998,514$ 9,345,531$ 9,963,291$ 9,391,348$ 10,503,773$ 2,178,589$ 8,325,184$ 20.74% Public Safety: Police10,853,821$ 10,611,141$ 11,307,863$ 11,347,597$ 11,846,760$ 2,832,786$ 9,013,974$ 23.91% Fire Protection5,040,703 4,764,337 4,998,636 5,066,748 5,364,179 1,288,612 4,075,567 24.02% Building 2,696,585 2,321,664 2,571,968 2,493,832 2,712,400 652,137 2,060,263 24.04%Total Public Safety18,591,109$ 17,697,142$ 18,878,467$ 18,908,177$ 19,923,339$ 4,773,534$ 15,149,805$ 23.96% Operations: Public Works Administration273,318$ 216,899$ 249,256$ 239,575$ 255,766$ 59,849$ 195,917$ 23.40% Public Works Operations3,331,966 3,168,538 3,285,820 2,957,465 3,523,669 760,206 2,763,463 21.57% Vehicle Maintenance1,278,827 1,207,998 1,303,159 1,259,534 1,368,929 325,907 1,043,022 23.81% Engineering551,285 531,801 523,547 655,722 556,115 164,450 391,665 29.57%Total Operations5,435,396$ 5,125,236$ 5,361,782$ 5,112,296$ 5,704,479$ 1,310,413$ 4,394,066$ 22.97% Parks and Recreation: Organized Recreation1,637,002 1,369,309 1,639,358 1,516,192 1,769,060 529,104 1,239,956 29.91% Recreation Center2,061,394 1,864,459 2,082,697 2,198,272 2,274,043 476,767 1,797,276 20.97% Park Maintenance1,906,363 1,802,534 1,916,643 1,857,392 2,034,509 450,300 1,584,209 22.13% Westwood Nature Center748,683 606,378 736,515 652,505 794,170 175,569 618,601 22.11% Natural Resources504,143 433,362 496,497 412,015 612,110 29,357 582,753 4.80%Total Parks and Recreation6,857,585$ 6,076,042$ 6,871,710$ 6,636,376$ 7,483,892$ 1,661,097$ 5,822,795$ 22.20% Other Depts and Non-Departmental: Racial Equity and Inclusion 314,077$ 272,994$ 341,293$ 185,280$ 292,194$ 16,797$ 275,397$ 5.75% Sustainability497,484 244,655 432,043 297,217 404,890 73,324 331,566 18.11% Transfers Out4,878,845 4,450,000 Contingency and Other144,860 225,000 67,183 Total Other Depts and Non-Departmental811,561$ 662,509$ 5,877,181$ 4,999,680$ 697,084$ 90,121$ 606,963$ 12.93%Total General Fund Expenditures41,694,165$ 38,906,460$ 46,952,431$ 45,047,877$ 44,312,567$ 10,013,755$ 34,298,812$ 22.60%Study session meeting of April 25, 2022 (Item No. 3) Title: March 2022 monthly financial reportPage 2
Meeting: Study session
Meeting date: April 25, 2022
Written report: 4
Executive summary
Title: First quarter investment report (January – March 2022)
Recommended action: No action required at this time.
Policy consideration: Reporting on investments each quarter is part of our financial
management policies.
Summary: The quarterly investment report provides an overview of the City’s investment
portfolio, including the types of investments held, length of maturity and yield.
Financial or budget considerations: The total portfolio value on March 31, 2022 was $77
million . Approximately $40 million of the portfolio is invested in securities that include
certificates of deposit, U.S. Treasury notes, Federal agency bonds and municipal debt securities.
The rest of the portfolio is held in money market accounts for capital project expenditures and
operating cashflow needs between property tax settlements, as well as future investment
opportunities as interest rates improve . The overall yield to maturity is .79% compared to .52%
at the end of 2021.
Strategic priority consideration: Not applicable.
Supporting documents: Discussion
Investment portfolio summary
Prepared by: Darla Monson, accountant
Reviewed by: Melanie Schmitt, chief financial officer
Approve d by: Cindy Walsh, deputy city manager/operations and recreation director
Study session meeting of April 25, 2022 (Item No. 4) Page 2
Title: First quarter investment report (January – March 2022)
Discussion
Background: The City’s investment portfolio is focused on cash flow needs and investment in
longer term securities in accordance with Minnesota Statute 118A and the City’s investment
policy objectives of: 1) preservation of capital; 2) liquidity; and 3) return on investment.
Present considerations: The total portfolio value decreased by $15.3 million to $77 million at
March 31, 2022 compared to $92.3 million at December 31, 2021. This decrease is typical of the
first quarter each year after receiving the second half tax settlement in December.
Approximately $11 million was needed in the first quarter for the February 1 debt service and
pay as you go TIF note payments in addition to the normal cashflow requirements for payroll
and operations which decreased money market balances.
With some improvement in interest rate s, the overall yield to maturity of the portfolio
increased from .52% at the end of 2021 to .79% on March 31, 2022. This is the combined yield
including both liquid funds held in money market accounts and long-term investments. Interest
rates on money markets have been near zero since early 2020 which brings down the yield of
the overall portfolio . The yield to maturity on the $40 million of securities in the portfolio is
1.52%. The two-year Treasury increased from .73% on December 31, 2021 to 2.28% on March
31, 2022, which is a benchmark used by cities for yield comparison of their portfolio .
Wh ile it is necessary to keep sufficient cash available in money market accounts for on-going
cashflow needs for payroll, operating and capital expenses between the June/July and
December property tax settlements, cash is also being held in the money market accounts to
invest as interest rates increase .
An agency bond, 2 certificates of deposit and a commercial paper security matured during the
quarter. New investments purchased included 8 CDs with rates ranging from 1.35% to 2% and 7
municipal debt securities with rates to maturity of 1.5% to 2.51%. Five million dollars from the
4M money market fund was also invested to collateralize Pentagon Federal Credit Union, which
will earn $25,000 of in terest before maturity in early 2023.
A breakdown of the portfolio is show below and in more detail in the attachment.
Next steps: None at this time.
12/31/21 3/31/22
<1 Year 77% 67%
1-2 Years 3% 4%
2-3 Years 9% 12%
3-4 Years 9% 11%
>4 Years 2% 6%
12/31/21 3/31/22
Money Markets/Cash $59,961,590 $37,005,750
Commercial Paper/Other $799,640 $5,000,000
Certificates of Deposit $1,234,079 $2,605,806
Municipal Debt $2,567,479 $5,831,156
Agencies/Treasuries $27,741,466 $26,558,224
City of St. Louis Park
Investment Portfolio Summary
March 31, 2022
Institution/Broker Investment Type CUSIP
Maturity
Date
Yield To
Maturity Par Value
Market Value at
3/31/2022
Estimated Avg
Annual Income
4M Fund Liquid Asset Money Market 0.05%1,565,211 1,565,211 830
4M Fund Plus Money Market 0.07%28,005,471 28,005,471 20,444
UBS Institutional Money Market 0.06% 676,530 676,530 406
UBS Institutional Money Market (bond proceeds)0.06% 6,758,538 6,758,538 4,055
37,005,750
4M Fund Collateral - Pentagon Federal Credit Union, VA 01/20/2023 0.50% 5,000,000 5,000,000 25,000
UBS CD - Bank Hapoalim, NY 06251A3L2 06/29/2022 0.35% 245,000 244,939 858
4M Fund CD - Western Alliance / Torrey Pines Bnk, CA 11/16/2022 0.20% 249,400 249,400 499
4M Fund CD - Greenstate Credit Union, IA 11/16/2022 0.20% 249,500 249,500 499
UBS CD- Texas Exchange Bk TX 88241TNG1 02/04/2025 1.35% 245,000 237,378 3,308
UBS CD - Amer Express Natl UT 02589ABM3 03/03/2025 1.80% 245,000 240,058 4,410
UBS CD - Goldman Sachs Bank UT 38149M3C5 03/16/2026 2.00% 245,000 239,510 4,900
UBS CD - Comenity Bank DE 981993FX1 03/18/2026 2.00% 200,000 200,000 4,000
UBS CD - State Bank of Indi NY 856285E98 02/01/2027 1.75% 245,000 235,124 4,288
UBS CD - Beal Bank NV 07371CG37 02/17/2027 1.85% 245,000 236,114 4,533
UBS CD - Beal Bank Plano TX 07371AYL1 02/17/2027 1.85% 245,000 236,114 4,533
UBS CD - Medallion Bank UT 58404DNF4 03/08/2027 2.00% 245,000 237,670 4,900
2,605,806
UBS Muni Debt - Minnesota State Txble GO 60412ASE4 08/01/2022 1.76% 200,000 201,444 3,520
UBS Muni Debt - San Jose CA Txbl GO 798135H51 09/01/2023 2.13% 650,000 651,404 13,845
UBS Muni Debt - New York St Urban Dev Co Txbl Bds 64985TAZ4 03/15/2025 1.90% 300,000 293,124 5,712
UBS Muni Debt - University Calif Txbl Bds 91412GU94 07/01/2025 2.51% 600,000 603,006 15,042
UBS Muni Debt - Calif St Univ Txble Bds 13077DQD7 11/01/2025 1.51% 750,000 695,625 11,355
UBS Muni Debt - North Dakota Pub Fin Auth Tax 65887PWD3 12/01/2026 1.35% 500,000 475,935 6,755
UBS Muni Debt - La Habra Ca Pension Oblig Txble 503433AF1 08/01/2027 1.90% 500,000 473,945 9,510
UBS Muni Debt - Alabama Fed Aid Hwy Fin Tax 010268CP3 09/01/2027 1.50% 700,000 648,697 10,521
UBS Muni Debt - Connecticut St Health Txbl 20775DLB6 11/01/2027 2.22% 500,000 459,940 11,080
UBS Muni Debt - New York NY GO Bonds 64966ML31 12/01/2027 2.23% 400,000 413,516 8,928
UBS Muni Debt - San Ramon Valley CA Uni Tax 7994082H1 08/01/2028 1.69% 500,000 464,395 8,450
UBS Muni Debt - New York NY City Transit Txbl 64971XD47 08/01/2028 1.95% 500,000 450,125 9,735
5,831,156
UBS US Treasury Note 912828X47 04/30/2022 2.12% 500,000 500,625 10,600
UBS US Treasury Note 912828X47 04/30/2022 2.18% 800,000 801,000 17,440
UBS US Treasury Note 912828X47 04/30/2022 2.69% 1,300,000 1,301,625 34,970
UBS US Treasury Note 912828TJ9 08/15/2022 2.76% 430,000 431,277 11,868
UBS US Treasury Note 912828N30 12/31/2022 2.78% 925,000 929,773 25,715
UBS US Treasury Note 912828N30 12/31/2022 2.51% 2,550,000 2,563,158 64,005
UBS US Treasury Note 912828N30 12/31/2022 2.55% 1,675,000 1,683,643 42,713
UBS FHLB 3130AJ7E3 02/17/2023 1.44% 620,000 618,884 8,928
UBS US Treasury Note 912828R69 05/31/2023 2.53% 1,000,000 997,110 25,300
UBS US Treasury Note 912828R69 05/31/2023 1.83% 350,000 348,989 6,405
UBS US Treasury Note 912828T91 10/31/2023 1.55% 75,000 74,408 1,163
UBS US Treasury Note 912828T91 10/31/2023 1.48% 450,000 446,450 6,660
UBS FHLB 3130AFW94 02/13/2024 2.58% 500,000 501,885 12,900
UBS US Treasury Note 912828XX3 06/30/2024 1.55% 1,050,000 1,041,138 16,275
UBS US Treasury Note 912828XX3 06/30/2024 1.66% 1,150,000 1,140,294 19,090
UBS US Treasury Note 912828XX3 06/30/2024 0.85% 260,000 257,806 2,210
UBS US Treasury Note 912828XX3 06/30/2024 1.36% 350,000 347,046 4,760
UBS US Treasury Note 912828XX3 06/30/2024 1.66% 1,150,000 1,140,294 19,090
UBS US Treasury Note 912828XX3 06/30/2024 0.41% 475,000 470,991 1,948
UBS FHLB 3130AGWK7 08/15/2024 1.55% 175,000 171,428 2,713
UBS US Treasury Note 91282CCT6 08/15/2024 0.41% 850,000 810,093 3,485
UBS US Treasury Note 912828YY0 12/31/2024 0.32% 1,900,000 1,863,634 6,080
UBS Fannie Mae 3135G0X24 01/07/2025 1.69% 650,000 635,252 10,985
UBS Freddie Mac 3137EAEP0 02/12/2025 1.52% 750,000 729,675 11,400
UBS US Treasury Note 912828ZW3 06/30/2025 0.36% 150,000 139,494 540
UBS US Treasury Note 912828ZW3 06/30/2025 0.58% 725,000 674,221 4,205
UBS US Treasury Note 912828ZW3 06/30/2025 0.39% 3,300,000 3,068,868 12,870
UBS US Treasury Note 912828ZW3 06/30/2025 0.72% 575,000 534,727 4,140
UBS US Treasury Note 91282CBC4 12/31/2025 0.75% 725,000 670,284 5,438
UBS US Treasury Note 91282CBC4 12/31/2025 0.70% 750,000 693,398 5,250
UBS US Treasury Note 91282CBC4 12/31/2025 0.82% 350,000 323,586 2,870
UBS US Treasury Note 91282CBC4 12/31/2025 0.57% 700,000 647,171 3,990
26,558,224
GRAND TOTAL 77,000,936 607,916
Current Portfolio Yield To Maturity 0.79%
Page 2 Study session meeting of April 25, 2022 (Item No. 4)
Title: First quarter investment report (January – March 2022)
Meeting: Study session
Meeting date: April 25, 2022
Written report: 5
Executive summary
Title: Quarterly development update – 2nd Quarter 2022
Recommended action: None . The attached report summarizes the status of major development
projects in St. Louis Park.
Policy consideration: Not applicable. Contact staff with any questions.
Summary: The attached report is meant to keep the EDA/city council informed on a quarterly
basis as to the metrics and tentative schedule of major development projects occurring in the
city. “Proposed developments” are developments that have not yet had their planning
applications considered by the city council. “Approved developments” are those whose
planning applications have been approved by the city council and have not yet commenced
cons truction (but whose financial assistance agreements may or may not still be under
consideration ). “Under Construction” means that a building permit has been issued for the
development. “Completed developments” are developments which have received their
certificates of occupancy.
The interactive map of St. Louis Park Developments on the city’s website has been replaced
with a more detailed interactive development dashboard made in collaboration with the city’s
GIS coordinator and is available at:
https://stlouispark.maps.arcgis.com/apps/dashboards/1a9c5e7002394459854c06f366bd3b97
The dashboard provides project metrics for all large developments or additions that have been
approved, under construction, or completed within the city since 2010. The dashboard includ es
website links, market rate and affordable unit counts by bedroom size, parking information for
overall stalls, bike facilities, and electric vehicle charging stations , and more .
In addition, a listing of all proposed, approved, and completed developments may also be found
on the city’s website at:
https://www.stlouispark.org/government/departments-divisions/community -
development/development-projects
Financial or budget considerations: Not applicable.
Strategic priority consideration: St. Louis Park is committed to providing a broad range of
housing and neighborhood oriented development.
Supporting documents: Major developments in St. Louis Park – 2nd Quarter 2022
Prepared by: Jennifer Monson, redevelopment admin istrator
Reviewed by: Greg Hunt, economic development manager
Karen Barton, community development director, EDA executive director
Approved by: Kim Keller, city manager
Study session meeting of April 25, 2022 (Item No. 5) Page 2
Title: Quarterly development update – 2nd Quarter 2022
Major Development s in St. Louis Park
2nd Quarter 2022
Multifamily housing development summary Total Market rate Affordable
Proposed units 322 252 71
Approved units 1045 647 390
Units under construction 1094 862 232
Recently completed units 149 124 25
All units 2,610 1,885 718
Proposed developments
Project, location &
developer Project Description Tentative
Schedule
Minnetonka Blvd
redevelopment
5707 – 5639
Minnetonka Blvd
GMHC (Greater
Metropolitan Housing
Corporation) &
(WHAHLT) West
Hennepin Affordable
Housing Land Trust
Proposed is the removal of four modest single-family houses
and construction of four twin homes (eight -units), providing
eight affordable home -ownership opportunities.
Estimated total development cost $3.7 million
Website: NA – too early in the process
Project plans could
be presented to
council by Q2 2022
Construction
commencement
Q1 2023 upon
securing LIHTC
financing
Wooddale Station
redevelopment site
5950 W. 36th St.
& 5802 36th St.
Saturday Properties and
Anderson Companies
Proposed mixed -use, mixed income, transit-oriented
development next to SWLRT Wooddale Station.
Two 6-story, mixed use buildings with 314 total apartment
units
•252 market rate units
•32 units affordable to households @ 50% AMI
•31 units affordable to households @ 60% AMI
•12,600 SF of ground floor commercial space
•3,500 SF of co -working/community space
•15,000 SF public plaza for public events, site
amenities, and public art
Entitlement
applications
April 2022
Construction
anticipated Q1
2023
Study session meeting of April 25, 2022 (Item No. 5) Page 3
Title: Quarterly development update – 2nd Quarter 2022
Proposed developments
Project, location &
developer Project Description Tentative
Schedule
Estimated total development cost: $88.7 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/wooddale-
station -redevelopment -site
Study session meeting of April 25, 2022 (Item No. 5) Page 4
Title: Quarterly development update – 2nd Quarter 2022
Approved developments
Project, location &
developer Project Description Tentative
Schedule
Wooddale Ave
Apartments
(Aldersgate)
3801 Wooddale Ave. S.
Real Estate Equities LLC
Redevelopment of former Aldersgate Church property
adjacent to Burlington Coat/Micro Center and Highway 100.
Proposed is a 114-unit, all affordable apartment building,
with 205 parking stalls, of which 117 stalls w ould be
underground.
Five units affordable to households at 30% AM I
Five units affordable to households at 50% AMI
104 units affordable to households at 60% AMI
Estimated total development cost $30.1 million
Website:
https://www.stlouispark.org/government/departments-
divisions/community -development/development-
projects/aldersgate
Awarded $17.5
million in LIHTC
bonds Jan. 2022
Planning
applications
approved on April
18, 2022
Financial request
scheduled for
EDA/CC
consideration on
June 6, 2022
Beltline Blvd Station
Site
SE quadrant of CSAH 25
& Beltline Blvd
Sherman Associates
Proposed mixed-use, mixed income, transit-oriented,
multi-phase development adjacent to
SWLRT Beltline Blvd. Station.
Building I includes:
• Seven-story mixed -use building with six levels of market
rate housing (156 units) and 19,500 SF of neighborhood
commercial space, potentially anchored by a grocer.
• A 592-stall parking ramp, which would include 268 park
& ride stalls, 326 residential stalls and
approximately 1,800 SF of commercial space.
Estimated development cost $55 million
Building 2 includes:
• Four-story all affordable apartment building with 82
Awarded $13.7
million in LIHTC
bonds Jan. 2022 for
affordable
components.
Received $418k
grant from
Hennepin County
for site cleanup in
Jan. 2022
Planning
applications
approved on April
18, 2022
TIF request
scheduled for
EDA/CC
consideration on
May 16, 2022
Study session meeting of April 25, 2022 (Item No. 5) Page 5
Title: Quarterly development update – 2nd Quarter 2022
Approved developments
Project, location &
developer Project Description Tentative
Schedule
units, 77 units will be affordable to households at 60%
AMI and five units will be affordable to households at
30% AMI. 22 units will have three -bdrms.
Estimated development cost $25 million
Building 3 includes:
• Five -story market rate apartment building with 146 units
Estimated development cost $47 million
Altogether, the multi-phase redevelopment will have 384
apartment units of which 82 (21%) would be affordable .
Estimated total development cost: $139 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/beltline-
development
Construction on all
phases anticipated
Q4 2022
9920 Wayzata
(former Platia Place )
9808 & 9920 Wayzata
Blvd
Bigos Management
Redevelopment of former Santorini’s restaurant property at
northwest quadrant of I-394 & US 169.
Six -story, 233-unit, mixed income apartment building with
20% (47) of the units affordable to households at 50% AMI.
Estimated total development cost $68.6 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/slp-living
Planning
applications
approved
EDA/council
approved TIF in
March 2022
Construction
commencement
spring 2022
Arlington Row
East & West
7705 Wayzata Blvd. &
7905 Wayzata Blvd.
Melrose Company
Planning
applications
approved
Tentative
construction
commencement
summer 2022
Study session meeting of April 25, 2022 (Item No. 5) Page 6
Title: Quarterly development update – 2nd Quarter 2022
Approved developments
Project, location &
developer Project Description Tentative
Schedule
Two development sites:
• 7905 Wayzata includes two three -story apartment
buildings with 34 units total and off-street parking
covered by a solar power carport.
• 7705 Wayzata includes a three -story apartment
building with 27 units and surface parking.
Estimated construction cost: $TBD
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/arlington -row-
amendment
Bremer Bank
7924 State Highway 7
Frauenshuh The retail building containing Knollwood Liquor and Papa
Murphy’s Pizza to be removed and replaced with a two-story,
5,850 SF office building to be occupied by Bremer Bank.
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/bremer -bank
Developer’s
conditional use
permit extended to
6/15/2022
Rise on 7
8115 Hwy 7
CommonBond Redevelopment of former Prince of Peace church property
across from Shops at Knollwood. Includes a four-story, 120-
unit, all affordable apartment building with units affordable
to households between 30%-80% AMI along with a 6,600 SF
“affordable” early childhood center.
Estimated total development cost $39.3 million
Planning
applications
approved in July
2021
Awarded $20.5
million in LIHTC
bonds Jan. 2022
Financial request
scheduled for
EDA/CC
consideration on
June 6, 2022
Construction
commencement
Study session meeting of April 25, 2022 (Item No. 5) Page 7
Title: Quarterly development update – 2nd Quarter 2022
Approved developments
Project, location &
developer Project Description Tentative
Schedule
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/rise-on-7
fall 2022 upon
securing TIF
Union Park Flats
3700 Alabama Ave &
6027 37th St W
PPL (Project for Pride in
Living)
Redevelopment of the north portion of the Union
Congregational Church with a three story, 60-unit affordable
apartment building on. All units would be affordable to
households ranging from 30%-80% AMI. Union
Congregational Church plans to remain on the south portion
of the property.
Estimated total development cost: $22.2 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/union-
congregational-church
Planning
applications
approved in July
2020
Applying for
additional funding
from MHFA June
2022 and from SLP
AHTF in fall 2022.
Construction
commencement
Q1 2023 upon
securing additional
financing
Study session meeting of April 25, 2022 (Item No. 5) Page 8
Title: Quarterly development update – 2nd Quarter 2022
Under construction
Project, location &
developer Project Description Tentative
Schedule
Beltline Residences
3440 Beltline Blvd.
Opus Group
Five -story, 250-unit mixed -use, mixed income development
with two retail spaces totaling 7,445 square feet and
Six live/work units. 10% of the units (25) will be affordable to
households at 50% AMI.
Estimated total development cost $78.1 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/3440-beltline-
blvd
Building permit
issued March 2022
Risor
3510 Beltline Blvd
Roers Company
Six -story, 170-unit apartment building with 4,100 square feet
of ground floor commercial space and 14 ground floor live -
work units. The development will be an age restricted (55+)
community with 10% (18) of the units affordable to
households at 50% AMI.
Estimated construction cost: $56.5 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/3510-beltline-
boulevard
Planning
applications
approved in
October 2021
Footing and
foundation permit
issued April 2022
Study session meeting of April 25, 2022 (Item No. 5) Page 9
Title: Quarterly development update – 2nd Quarter 2022
Under construction
Project, location &
developer Project Description Tentative
Schedule
Louisiana Crossing
3745 Louisiana Ave
Loffler Companies
Loffler Companies is renovating the 132,485 square foot
former Sam’s Club building. The Midwest’s largest office-
technology and IT-services company is consolidating its
headquarters and warehouse operations here resulting in
over 500 jobs. 30,000 square feet is available for lease. Loffler
may sell off the south end of property for multifamily housing
in the f uture .
Estimated construction cost: $TBD
Warehouse
operations move in
Q4 2021
Office renovation
expected to be
completed in
Q2 2022
Luxe Residential
5235 Wayzata Blvd
(Phase VI of
Central Park West)
Greystar Real Estate
Partners
Redevelopment of former Olive Garden property in The West
End area.
Luxe Residential is a six -story, 207-unit, apartment building
(including eight units affordable to households at 60% AMI)
along with two levels of underground parking. The
development also includes a new pocket park along 16th
Street and pedestrian improvements connecting the
apartment building to the rest of The West End area.
Estimated construction cost: $51.8 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/luxe -
residential
Construction
commence ment
October 2021
Complete by
September 30,
2023
Study session meeting of April 25, 2022 (Item No. 5) Page 10
Title: Quarterly development update – 2nd Quarter 2022
Under construction
Project, location &
developer Project Description Tentative
Schedule
Nordic Ware
expansions
Buildings 8 & 9
5005 County Road 25
Dalquist Properties LLC
21,853-square -foot warehouse and loading dock addition to
Building 8. 45,000-square -foot warehouse and loading dock
addition to Building 9 along with a small café and outdoor
patio on the property’s south side facing the regional trail.
Estimated construction cost: $11.6 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/nordic-ware
Construction
commencement
summer 2021,
complete Q1 2022
Parkway Residences
W 31st St between
Inglewood Ave &
Glenhurst Ave
Sela Group & Affiliates
Multi-phase redevelopment includes four, multi-family
buildings with 211 units. The affordable housing includes 24
rehabilitated units at 50% AMI, and six new units at 60% AMI.
• Phase I:
• Parkway Place: Four-story, 95-unit apt. bldg.
• Parkway Flats: Six -unit apt bldg.
• Rehab of 24 NOAH apartment units.
Estimated development cost $40.6 million
• Phase II: Parkway Commons: Four-story, 37-unit
apartment building
Estimated development cost $14.6 million
• Phase III: Eleven-story, 73-unit apartment building
Estimated total development cost $36.2 million
Phase I
commenced
May 2020
Complete
April 30, 2022
(Parkway Place
occupancy issued
Jan. 14, 22)
Parkway Flats
under
construction.
Anticipated
completion August
22
Phase II building
permit issued
March 2022
Phase III start
Spring 2024
Study session meeting of April 25, 2022 (Item No. 5) Page 11
Title: Quarterly development update – 2nd Quarter 2022
Under construction
Project, location &
developer Project Description Tentative
Schedule
Website: https://www.stlouispark.org/government/departments-
divisions/community -development/development-projects/parkway -
residences
Volo at Texa-Tonka
NE corner Texas Ave &
Minnetonka Blvd
Paster Development
Mixed income redevelopment includes 101 apartment units
in a three - to four-story building, and 11 walk-up style
townhome units located in two two-story buildings on the
northern end of the site. Twenty percent (23) of the units
would be affordable to households at 50% AMI.
Estimated total development cost $26.6 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/ne-corner-
texa-tonka
Construction
commencement
September 2021
Complete Q3 2022
VIA Sol
SE quadrant Hwy 7 &
Wooddale Ave
5855 Highway 7
PLACE
Mixed -use, mixed-income , transit-oriented development
including a five -story, 217-unit apartment bldg (65 market
rate units, 22 at 50% AMI, and 130 at 80% AMI),
e-generation, anaerobic digester, wind turbine, solar panels,
and one-acre urban forest.
Estimated total development cost $88.4 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/via -place
Commenced
Jan 2020
Closed on
additional
financing Jan. 2022
Complete
apartments by
9/30/2022
Complete
e-generation bldg
by 6/30/23
Study session meeting of April 25, 2022 (Item No. 5) Page 12
Title: Quarterly development update – 2nd Quarter 2022
Recently completed developments
Project, location &
developer Project Description Tentative
Schedule
10 West End
(Phase IV of
Central Park West)
Excelsior Group and
Ryan Co. Eleven story, 343,000 sq. ft. Class A , LEED certified, office
building with 3,500 SF of ground floor commercial space,
5,000 sq. ft. of shared outdoor amenity space and
1,214 stall parking structure.
Estimated construction cost $55.8 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/10 -west -end
Completed
January 2021
The Quentin
4900 Cedar Lake Road
Crowe Companies LLC Project include d the removal of three substandard buildings
and construction of a five story, 79-unit sustainable
apartment building that includes two levels of structured
parking. The housing includes eight units affordable to
households at 50% AMI.
Estimated total development cost: $21.3 million .
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/cedar-place
Completed
August 2021
Study session meeting of April 25, 2022 (Item No. 5) Page 13
Title: Quarterly development update – 2nd Quarter 2022
Recently completed developments
Project, location &
developer Project Description Tentative
Schedule
The Elmwood
5605 W. 36th St.
Main Street Companies
Five story, 70-unit mixed -use, mixed income senior
development (53 market rate and 17 units affordable to
households at 60% AMI), 4,400 SF of ground floor
office/commercial space.
Estimated total development cost $15.2 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/the-elmwood
Complete d
August 2021
Xchange Medical Office
6009 Wayzata Blvd.
Davis Group Three -story, Class A, medical office development fronting I-
394. Ear Nose & Throat Specialty Care (ENTSC) and Surgical
Care Affiliates (SCA) will anchor the 77,996 -square foot
medical office building. Includes one level of underground
parking with 51 stalls and 253 surface parking stalls on the
building’s south side.
Estimated construction cost: $13 million
Website: https://www.stlouispark.org/government/departments-
divisions/community-development/development-projects/xchange-
medical -office
Complete d
Nov 2021
Meeting: Study session
Meeting date: April 25, 2022
Written report: 6
Executive summary
Title: 2023 Budget process and ARPA funding overview
Recommended action: No formal action required. This report is to outline the budget process
for the 2023 budget along with allocation of American Recovery Plan Act (ARPA) dollars.
Policy consideration: Council is required to set a preliminary levy by Sept. 30, 2022 for the 2023
tax year. Council is required to designate where we will spend the monies from the American
Recovery Plan.
Summary: This report outlines the 2023 budget process including high level timelines, topics for
discussion and decision points. It will also discuss ARPA funding and the timeline for council
discussion during the budget process.
Financial or budget considerations: This report explains the process and timelines for the
budget and levy.
Strategic priority consideration: All areas of the adopted strategic priorities are impacted by
the city’s budget and financial health.
Supporting documents: Discussion
Prepared by: Melanie Schmitt , finance director
Approved by: Kim Keller, city manager
Study session meeting of April 25, 2022 (Item No. 6 ) Page 2
Title: 2023 Budget process and ARPA funding overview
Discussion
Background: Each year we start the budget process in April for the next year. This report lays
out the council workshops and meeting for the 2023 budget cycle. It also talks about the
process for allocating American Recovery Plan Act (ARPA) funds.
Budget timelines
May Study session: long range financial plan + ARPA approach
June Study session: 2023 budget assumptions
July Study session: Preliminary 2023 budget including general fund, capital, enterprise
funds and ARPA allocation
Aug. Study session: Preliminary 2023 levies and refined preliminary budget
Sept. Council action: Approve 2023 preliminary tax levies
Oct. Council action: Approval 2023 fees including utility rates
Nov. Study session: Final 2023 budget, tax levies, capital, enterprise funds, ARPA
Dec. Council action: Truth in taxation hearing; passage of 2023 levy, budget, and Capital
Improvement Plan
May: Review long -range financial plan, including such items as fund balances, debt, and this
year, ARPA funds.
Council has also expressed interest in discussing debt levels and the impacts of a debt-free
approach. This study session will incorporate that discussion. We will also present a financial
impact analysis of dedicating various levels of ARPA funds toward infrastructure projects and
ask council to provide high level direction.
June : Present levy estimates to the council.
The estimate s use assumptions for insurance rates, utilities, cost of living increases, and any
known inflation . The estimate is only inclusive of base operations, no new programs or staffing
are in the estimate. Staff will model the levy using differing levels of ARPA funding based on
council direction from May. In addition to our general levies, we will discuss the HRA and EDA
levies . Staff will again want high level direction from council on the levies and ARPA spending.
July: Capital projects and equipment for 2023 through 2032.
Primary focus will be the 2023 capital with a high -level overview of the projects and spending
levels in future years.
August: Proposal of the preliminary levies.
We will have budget numbers from departments and a solid expense estimate. Council should
provide direction to staff on the desired preliminary levy. A draft ARPA plan will also be
presented; council feedback is requested.
September: Passage of 2023 preliminary levies.
We can lower the final levies but are not allowed to increase them above the preliminary levy
amount. Additionally, we will present a final plan for our ARPA dollars based on feedback from
the council in budget meetings leading up to September.
Study session meeting of April 25, 2022 (Item No. 6 ) Page 3
Title: 2023 Budget process and ARPA funding overview
October: Adoption of 2023 fees.
The utility rates are included in the fee schedule. All fees tie into our revenue projections in the
2023 budget.
November: Final work session before the truth in taxation hearing.
Final numbers for budget and levies will be presented for discussion.
December: Truth in taxation hearing (TNT) and final budget presentation.
The meeting following the TNT will include passage of the final 2023 levies, budgets and capital
plans.
Meeting: Study session
Meeting date: April 25, 2022
Written report: 7
Executive summary
Title: Business terms for contract for private redevelopment with Real Estate Equitie s (Ward 2)
Recommended action: Review proposed business terms for the EDA’s contract for private
redevelopment with Real Estate Equities related to its proposed Wooddale Avenue Apartments
development scheduled for formal consideration at the June 6, 2022, EDA meeting.
Policy consideration: Are the proposed business terms for the provision of tax increment
financing assistance and affordable housing trust funds for the Wooddale Avenue Apartments
development consistent with the EDA’s expectations and are they acceptable?
Summary: Real Estate Equities (REE and “Re developer”) has a purchase agreement to acquire
the Aldersgate Methodist Church property at 3801 Wooddale Avenue . REE’s plan s for the site
include removal of the existing church, and construction of a 114-unit, all affordable , workforce
housing development. The proposed $34.26 million development includes a mix of one-, two-,
and three-bedroom units, including five units at 30% AMI, five units at 50% AMI, and 104 units
at 60% AMI for 26 years, exceeding the city’s Inclusionary Housing Policy requirements. The
EDA/city council received a staff report detailing the Redeveloper’s TIF Application at the March
28, 2022 study session along with a recommendation for an appropriate level of assistance. The
development also exceeds the city’s green building policy .
Financial or budget considerations: REE has sought project financing from a variety of public
agencies for the proposed development. It was awarded up to $17.49 million tax exempt bonds
from Minnesota Management and Budget (MMB), Low Income Housing Tax Credits (LIHTC)
from Minnesota Housing and are applying for cleanup grants from Hennepin County. Despite
these sources, and deferring over 70% of their developer fee, the project’s proforma exhibits a
funding gap due to its considerable extraordinary costs. Consequently, REE applied for tax
increment financing (TIF) assistance to enable the development to become financially feasible.
Ehlers, the EDA’s financial consultant, examined the project’s pro forma to determine what, if
any, level of financial assistance was necessary for the development to achieve financial
feasibility . After review, Ehlers determined that up to $940,000 in TIF assistance is warranted to
enable the project to proceed. Such assistance would be provided via a pay-as-you-go TIF Note.
Given current estimates of market value, it is estimated that the development’s TIF Note would
be paid off in approximately 15 years. Such assistance would derive from a new housing TIF
district. In addition, a deferred loan of $850,000 from the city’s AHTF is needed to “buy down”
the deeper levels of affordable housing at 30% and 50% AMI in the development.
Strategic priority consideration: St. Louis Park is committed to providing a broad range of
housing and neighborhood oriented development.
Supporting documents: Discussion
Prepared by: Jennifer Monson, redevelopment administrator
Reviewed by: Greg Hunt, economic development manager
Karen Barton, community development director, EDA executive director
Approve d by: Cindy Walsh, deputy city manager/operations and recreation director
Study session meeting of April 25, 2022 (Item No. 7) Page 2
Title: Business terms for contract for private redevelopment with Real Estate Equities
Disc ussion
Background: Real Estate Equities has a purchase agreement with Aldersgate Methodist Church
and proposes to remove the existing building and re develop the site with an all-affordable,
three - to four-story apartment building. The development would include 114 dwelling units
that would be affordable to households between 30 and 60 percent of the area median income
(AMI). The plan proposes accessing the site from Wooddale Avenue with driveways both north
and south of the cul-de -sac. 117 parking stalls are provided underground, and 89 stalls are
proposed in surface lots on the building’s west and north sides. Other proposed site
improvements include sidewalks, new landscaping, an underground stormwater management
system and a 40-53 kw rooftop solar array.
The development would exceed the city’s inclusionary housing policy as amended in October
2021, which requires at least 20 percent of the units be affordable to households at 60 percent
AMI. The proposed apartment building would be an all-affordable development with rents
ranging from 30 percent to 60 percent AMI. Per the Metropolitan Council, the 60 percent AMI
for a family of four is $62,940. A development of this size is required to provide at least four
three -bedroom units per the city’s inclusionary housing policy. The Re developer plans to
include 37 three -bedroom units in the building’s unit mix, exceeding the policy requirements by
32 units, to further the city’s goals for family -sized housing.
As proposed, the development exceeds the city’s green building policy as amended in July 2020.
The development will follow Enterprise Green Communities/Energy Star Program, and the
redeveloper has agreed to include numerous energy efficient design features and components
into the development (including a rooftop solar array installation capable of generating a 40-53
kWh) which exceed the city’s Green Building Policy requirements as amended July 2020 and
consequently the Climate Action Plan.
Rendering of proposed Wooddale Avenue Apartments
Study session meeting of April 25, 2022 (Item No. 7) Page 3
Title: Business terms for contract for private redevelopment with Real Estate Equities
Wooddale Avenue Apartments would be a single -phase, all-affordable, residential development
marketed as workforce housing. Pending approval of its financing, the Redeveloper plans to
commence construction of the building in summer 2022 and complete it by summer 2024.
Real Estate Equities w ould own and manage the residential development for the long term.
On April 4, 2022, city council approved a comprehensive plan amendment to reguide the site
from civic to high -density residential, a preliminary and final plat, and a preliminary and final
planned unit development zoning district to allow the proposed mixed income, multi-family
residential development on April 18, 2022.
Redeveloper’s request for financi al assistance: Due to the housing development’s
extraordinary site preparation costs and decreased rental income from 100% of the units over
26 years, there is insufficient cash flow to provide a market rate of return, pay ongoing
operating expenses, and service the outstanding debt on the property. This leaves a gap in the
development’s funding making it financially infeasible without public financial assistance.
To offset this gap, the Redeveloper applied to the EDA for tax increment financing (TIF)
assistance. The EDA received a staff report detailing the TIF Application at the March 28, 2022
study session along with a recommendation for the appropriate amount of financial assistance.
Level and type of financial assistance: In summary, the Redeveloper’s sources and uses
statement, income and expense estimates, financing assumptions, cash flow projections, and
investor rate of return (ROR) related to the proposed all-affordable development were reviewed
by staff and Ehlers (the EDA’s financial consultant). Based upon its analysis of the Redeveloper’s
financial proforma, Ehlers determined that tax increment assistance in the amount of $940,000
and a loan in the amount of $840,000 from the city’s Affordable Housing Trust Fund (AHTF) is
necessary to enable the proposed development to become financially feasible.
The TIF assistance would be committed to reimburse the Redeveloper for a portion of its Public
Redevelopment Costs (which includes the costs of site demolition and clearance, soil
remediation and correction as well as construction of affordable housing). Upon completion of
the building and verification of the Redeveloper’s qualified Public Redevelopment Costs, tax
increment generated from the increased value of the property would be provided to the
Redeveloper on a "pay-as-you-go" basis, which is the preferred financing method under the
city's TIF Policy. It is projected that the TIF Note would be paid off in approximately 15 years
with increment generated by the development, consistent with other redevelopments the EDA
has previously facilitated.
The AHTF loan of $850,000 would be non -interest bearing and would be repaid upon the earlier
of 1) 25 years, 2) refinancing, or 3) sale of the development. The proposed development
exceeds the requirements of the AHTF policy by providing five units at 30 percent AMI, five
units at 50 percent AMI, and the remaining 104 units at 60 percent AMI. Additionally, the
development will include 37 3-bedroom units. By providing additional assistance through the
trust fund, this allows the development to achieve deeper levels of affordability for 10 of the
units and to incorporate a greater number of larger units.
Study session meeting of April 25, 2022 (Item No. 7 ) Page 4
Title: Business terms for contract for private redevelopment with Real Estate Equities
Proposed business terms: The following is a summary of the proposed key business terms
between the EDA and Real Estate Equities (“Redeveloper”), consistent with EDA Policy, AHTF
policy, past practices , and previous discussions with the EDA/city council. The Redevelopment
Property consists of the property highlighted in the aerial photo below.
“Redevelopment Property” for proposed Wooddale Avenue Apartments
1. The Re developer agrees to construct an all-affordable multifamily rental housing
development on the Redevelopment Property consisting of a 114-unit apartment
building with approximately 117 underground parking stalls (the “Development”). The
Development shall include a mix of one -bedroom, two-bedroom, and three -bedroom
units (the “Minimum Improvements”).
2. The EDA agrees to reimburse the Redeveloper for a portion of its Public Redevelopment
Costs incurred during construction of the Development through tax increment financing
(TIF) up to $940,000.
3. The EDA agrees to issue a tax increment revenue note (“TIF Note”) to the Redeveloper
in the maximum principal amount of $940,000 payable from available tax increment,
generated by the Development on a “pay-as-you-go” basis, over a period of
approximately 15 years. The TIF Note will bear interest at 4.3% or the Redeveloper’s
Study session meeting of April 25, 2022 (Item No. 7 ) Page 5
Title: Business terms for contract for private redevelopment with Real Estate Equities
actual financing interest rate. The TIF Note would not constitute a business subsidy
because the Redeveloper’s net costs of acquisition of and site improvements on the
Redevelopment Property will meet the housing exception under Minnesota statutes.
4. In order to provide the tax increment to the Redeveloper, the EDA agrees to establish a
new housing TIF district consisting of one parcel: 3801 Wooddale Avenue .
5. The EDA will issue the TIF Note to the Re developer upon completion of the Minimum
Improvements and Re developer providing the EDA with a statement specifying the
Public Redevelopment Costs incurred by the Re developer related to the Development
along with evidence that each identified Public Redevelopment Cost has been paid or
incurred by the Redeveloper.
6. The TIF assistance will be subject to a "look back" analysis to be performed by Ehlers,
the EDA’s financial consultant. Under the provision, the Redeveloper would be required
to submit final project costs related to the Development. The look back provision
ensures that if the Development’s total Public Redevelopment Costs are lower, the EDA
can reduce the amount of TIF assistance provided.
7. The EDA or the City will provide the Redeveloper an interest-free deferred loan from its
Affordable Housing Trust Fund in an amount not to exceed $850,000.
• The AHTF loan will be repaid upon the earlier of (i) 25 years, (ii) refinancing/re -
syndication of the Affordable Housing Minimum Improvements, or (iii) sale or
transfer of the Affordable Housing Minimum Improvements; provided, however,
that Redeveloper may transfer the Affordable Housing Minimum Improvements to
a related entity to the Redeveloper without such repayment obligation.
8. Construction of the Development will commence by August 31, 2022 and will be
substantially completed by August 31, 2024.
9. Redeveloper will construct the Development and maintain it in good condition until the
Contract terminates.
10. Redeveloper will comply w ith the TIF Act and city’s Inclusionary Housing Policy in effect
at the time of its planning applications (February 28, 2022). Specifically, Developer agrees
to a 26-year covenant beginning on the date a certificate of occupancy is issued providing
that (i) at least 40% of the units as affordable to households at or below 60% AMI for
purposes of complying with the TIF Act ; (ii) at least 104 of the units will be affordable to
households at or below 60% AMI; (iii) at least five units will be affordable to households
at or below 50% AMI (two one -bedroom units, two two-bedroom units, and one three -
bedroom unit) and such units shall have free surface parking; (iv) at least five units will be
affordable to households at or below 30% AMI (two one -bedroom units, two two-
bedroom units, and one three -bedroom unit) and such units shall have free surface
parking; and (v) households with incomes at or below 60% AMI will have the option to
purchase underground parking at a cost not to exceed the greater of 60% of the market
rate for underground parking as calculated by the City on an annual basis or $75 per
month. Certain affordability requirements will remain in place for 30 years due to the
requirements of the low-income housing tax credits to be received by the Redeveloper.
Study session meeting of April 25, 2022 (Item No. 7) Page 6
Title: Business terms for contract for private redevelopment with Real Estate Equities
11. Redeveloper will use reasonable efforts to meet the following business enterprise and
workforce participation goals for women and black, indigenous and people of color
(BIPOC) in conjunction with construction of the Development:
Participation Goals Women BIPOC
Business Enterprises 6% 13%
Workforce 6% 32%
Participation goals would be applied to the Development as a whole and pertain to the
total amount of construction and related contracts. Redeveloper would provide and use
reasonable efforts to cause its contractors/subcontractors to provide certain
information and resources to prospective contractors/subcontractors before bidding; to
implement procedures designed to notify women and people of color about contracting
opportunities; to document steps taken to comply with participation goals and the
results of actions taken; and to provide compliance report(s), all as more particularly set
forth in the Contract. Failure to achieve these goals would not constitute a breach or
default by Redeveloper.
12. Redeveloper will comply with the City’s Green Building Policy in effect at the time of
submittal for planning applications (February 28, 2022) and shall use Enterprise Green
Communities/Energy Star Program with the Minnesota Overlay as its design rating
system to meet the requirements of the policy. Among the sustainability features to be
included are:
• A rooftop solar array which produces approximately 40-53 kw
• LED lighting
• Low VOC paint and adhesives
• Energy Start appliances and windows
• High efficiency magic paks
• Recycled content in construction material
• Recycled construction waste
• Low flow water fixtures
• Soil and asbestos remediation
13. Redeveloper will install the following items, at a minimum, in conformity with the City’s
Planning Development Contract:
• 19 Level 2 electric vehicle charging station s.
• Landscaping on the Development Property.
• All items required under the City’s Building Readiness Ordinances.
14. Redeveloper and EDA mutually agree to enter into a Minimum Market Value
Assessment Agreement setting a minimum property tax value for the Development.
15. Redeveloper agrees to not discriminate on the basis of race, color, creed, sex, or
national origin in the construction, maintenance, sale, lease, or rental of the
Development Property or Minimum Improvements.
Study session meeting of April 25, 2022 (Item No. 7 ) Page 7
Title: Business terms for contract for private redevelopment with Real Estate Equities
16. Redeveloper agrees to certify that the Minimum Improvements have been constructed
in accordance with the Purchase and Redevelopment Contract and all applicable local,
state, and federal laws and regulations (including but not limited to environmental,
zoning, building code, labor, and public health laws and regulations). Additionally, all
costs related to the Minimum Improvements and the development of the
Redevelopment Property, including payments to all contractors, subcontractors, and
project laborers, have been paid prior to the date of the Redeveloper’s request for the
Certificate of Completion and written lien waivers have been provided from each
contractor for all work done and for all materials furnished by it for construction or
installation of the Minimum Improvements.
17. Redeveloper agrees to pay reasonable administrative costs incurred by the EDA,
including consultant and attorney fees, in connection with the Development.
18. If Redeveloper defaults under the Contract, the EDA may (among other things)
terminate the TIF Note and the Contract.
19. The Contract and TIF Note will terminate upon the earliest of the final payment of
principal and interest on the TIF Note, the required decertification of the TIF District, or
an uncured Event of Default under the Contract.
The above terms will serve as the basis for, and will be incorporated into, a contract for private
redevelopment contract with the Re developer. Such terms are subject to further definition,
revision and/or refinement by the EDA’s legal counsel. A copy of the contract for private
redevelopment will be available for review in the community development department.
Next steps: Staff will work wit h the EDA’s legal counsel and Real Estate Equities to finalize the
formal contract for private redevelopment based on the proposed business terms and any
input received by the EDA. Formal consideration of the proposed purchase and redevelopment
contract is scheduled for the June 6, 2022, EDA meeting.
Actions/public hearings Governing Body Date
Establishment of Wooddale Avenue Apartments TIF
District (action)
EDA June 6, 2022
Contract for Private Redevelopment for Wooddale
Avenue Apartments TIF District (action)
EDA June 6, 2022
Wooddale Avenue Apartments/REE Approval of
Contract for Private Redevelopment and Disbursement
of AHTF approval (consent)
City Council June 6, 2022
Public Hearing and establishment of Wooddale Avenue
Apartments TIF District and conformance with
comprehensive plan (public hearing and action)
City Council June 6, 2022
Meeting: Study session
Meeting date: April 25, 2022
Written report: 8
Executive summary
Title: Draft sidewalk policy framework (Ward 3)
Recommended action: To identify sidewalks to be evaluated as a part of the 2023 pavement
management project, staff is recommending pilot ing a draft sidewalk policy framework.
Additional discussion on sidewalk policy will be brought to council in June during the connected
infrastructure system study session.
Policy consideration: Does the city council support staff applying the proposed sidewalk policy
framework as a pilot to develop a formal sidewalk policy to guide pavement management projects?
Summary: Consistent with past council direction, the scope of the city’s transportation projects
includes the evaluation of new sidewalk construction. The manner of identifying the location of
these new sidewalks has evolved over the last nine years. More information on this evolution is
in the discussion section of this report.
During the approval process for the 2022 pavement management project (PMP) in Fern Hill,
there was considerable discussion regarding the process used to identify new sidewalk
locations and staff recommendations.
It was suggested that a more consistent approach to identifying the location of new sidewalk
construction would better reflect the city’s mobility priorit y and communicate that a
continuous sidewalk network provide s connections for the entire community, not just for the
people that live on the street.
In June, staff will bring the topic of a sidewalk policy to the council as a part of our connected
infrastructure system study sessions. However, the public process for the 2023 pavement
management project will start in May. Due to this schedule, there is not adequate time to
formally adopt a policy prior to kicking off the public process. Unless directed otherwise by the
council, staff will use the framework described in the discussion section of this report to
develop the locations for proposed sidewalk as a part of this project. These will be
communicated to the public at the start of the public process. Staff have developed this draft
framework based on previous direction from council.
Financial or budget considerations: Construction of sidewalk segments as a part of our PMP
projects is planned for and included in the 10-year capital improvement plan (CIP).
Strategic priority consideration: St. Louis Park is committed to providing a variety of options for
people to make their way around the city comfortably, safely and reliably.
Supporting documents: Discussion
Prepared by: Debra Heiser, engineering director
Reviewed by: Jack Sullivan, en gineering project manager
Approved by: Kim Keller, city manager
Study session meeting of April 25, 2022 (Item No. 8) Page 2
Title: Draft sidewalk policy framework
Discussion
Background: The following timeline outlines the evolution of council direction regarding the
construction of sidewalks in the city since 2013.
May 28, 2013 - Complete Streets policy approved by council.
The Complete Streets policy encompasses the planning, scoping, design, implementation,
operation, and maintenance of roads to reasonably address the safety and accessibility needs
of users of all ages and abilities. Comp lete Streets considers the needs of motorists,
pedestrians, transit users and vehicles, bicyclists, and commercial and emergency vehicles
moving along and across roads, intersections, and crossings in a manner that is sensitive to the
local context and recognizes that the needs vary in urban, suburban, and rural settings.
June 17, 2013 - Connect the Park Capital improvement plan (CIP) approved by council.
Th is plan is the implementation of the majority of bikeway s, sidewalk s and trails identified in
the Active Living Sidewalk and Trail Plan. The purpose is to make a measurable difference in
how people travel around the community by constructing a comprehensive citywide system of
bikeways, sidewalks, and trails. It builds on council policies and plans to set a course for
implementation of the non-motorized transportation for the community
J une 2014 - Council directed staff to identify gap segments near Connect the Park (CTP)
sidewalk segments and add them to the implementation plan . A gap was defined as a sidewalk
segment that, if completed , would create connections from the existing sidewalk system to the
new sidewalks in the CTP plan.
July 2018 - Definition of sidewalk gap expanded to include connections from multi-family
naturally occurring affordable housing (NOAH) to the community sidewalk system.
At the request of the city council, staff was asked to locate all the sidewalk gaps between NOAH
properties and sidewalks along transit corridors. Staff include s these gaps into the scope of
projects in the CIP.
2018 - 2040 Comprehensive Plan incorporates the policy, “The city will plan, design, build, and
operate the city’s mobility system in a way that prioritizes walking first, followed by bicycling
and transit use, and then motor vehicle use”.
This is a significant change from previous comprehensive plan priorities. Flipping the
prioritization enables staff to plan, design and implement projects to optimize the pedestrian
and bicycle experience.
2018 - Climate Action Plan approved by council. The plan sets the goal of achieving carbon
neutrality — having a net-zero carbon footprint — by 2040.
The plan provides guidance for residents, businesses, and the city on reducing the greenhouse
gas emissions and impacts of climate change. The construction of sidewalks will help in
achieving the goals set forth in the Climate Action Plan goal 6.4: Enable reduction of vehicle
miles traveled (VMT) from single -occupancy vehicles.
Aug. 19, 2019 - Living Streets policy formally adopted.
This policy includes the principle : Enhance walking/ biking conditions and connections. This
principle is incorporated into the planning and design of transportation projects. To do this, as
Study session meeting of April 25, 2022 (Item No. 8) Page 3
Title: Draft sidewalk policy framework
a part of project development, the existing bikeway, sidewalk , and trail networks are reviewed.
In addition, locations of naturally occurring affordable housing (NOAH) will be identified.
Recommendations will be made to close gaps in the networks, provide additional connections,
and make safety improvements based on the context of the specific transportation project
under consideration.
Since the adoption of the Living Streets policy, staff identified the location of new sidewalks to
include in the project scope in one of the following ways:
• Connect the Park plan: Staff will include any segment of sidewalk identified in the
Connect the Park plan adjacent to a street segment included in the project.
• Gap sidewalks: Staff will review the existing sidewalk network along streets segments in
the project and recommend filling in gaps. F or purposes of discussion, a “gap” is
considered a section of sidewalk that is missing on a continuous street block.
• M ulti-family housing connections: where there is multi-family housing on a street
segment, staff will include new sidewalk to connect these properties to commercial
nodes, parks, and transit.
• Resident requests: During the public process, residents request the inclusion of
additional sidewalks. Staff will add these for con sideration.
On street segments where there is no existing sidewalk and residents do not request a
sidewalk , staff does not propose sidewalk installation. This process is consistent with past
council policy direction .
Current considerations: During the approval process for the 2022 pavement management
project in Fern Hill, there was considerable discussion regarding how new sidewalk locations
were identified. Council members and the public had questions regarding the location of
sidewalks being evaluated and why they were on some streets and not all. There was also
feedback requesting that the sidewalks run continuously on one side of the street vs. crossing
from one side to the other.
It was suggested that a more consistent approach to identifying the location of new sidewalk
construction would better reflect the city’s mobility priority . In response to this, staff will brin g
the topic of a sidewalk policy to the council as a part of our connected infrastructure system
study sessions.
The public process for the 2023 pavement management project will start in May. Due to this
schedule, there is not adequate time to formally adopt a policy prior to kicking off the public
process. To not miss this opportunity, staff recommends doing a pilot to improve how we
identify sidewalks that are included in the PMP project. We have developed a draft sidewalk
policy framework that we would like to pilot. The framework is based on feedback received by
council and the public during the 2022 PMP process to identify proposed sidewalks at the
beginning of the public process.
Th e expectation is that providing a more consistent approach to identifying the location of new
sidewalk construction will reduce confusion for the public, better reflect the city’s mobility
priority and recognize that a continuous sidewalk network provides connections for the
community, not just for the people that live on the street.
Study session meeting of April 25, 2022 (Item No. 8) Page 4
Title: Draft sidewalk policy framework
To develop the locations of the proposed sidewalk for the 2023 PMP, staff recommends using
the following framework. It lays out basic principles for sidewalk location selection and design.
Sidewalk policy - pilot framework: St. Louis Park is committed to providing a variety of options
for people to make their way around the city comfortably, safely, and reliably. One way to do
this is by continuing to expand the network of sidewalks. As a part of transportation projects,
the existing sidewalk system will be reviewed, and new sidewalks will be proposed to close gaps
and create a connected sidewalk network along streets in the city.
1. Minimum sidewalk network: As vehicle volume increases, the relative comfort for
pedestrians to cross the road decreases. To recognize this, we recommend that the policy
be broken out into two different types of roads, low -volume and high-volume. Low-volume
roads are those that have less than 2,000 vehicles a day. High -volume roads are those that
have more than 2,000 vehicles a day. The streets in our pavement management projects are
typically low -volume roads.
• For low-volume roads: there will be continuous sidewalk on at least one side of the
street.
• For high -volume roads: there will be continuous sidewalk on both sides of the street.
2. Locations: At the start of the project scope development, staff will review the existing
sidewalk network adjacent to streets that are scheduled for rehabilitation. Sidewalks will be
proposed where sidewalk does not currently exist and to fill gaps in the sidewalk network
on the project street segments.
3. Continuity: To promote a safe, comfortable sidewalk network and reduce the need for
pedestrians to cross the street to get to a sidewalk. Continuous sidewalks are recommended
to be constructed along all street segments included in a transportation project.
For low-volume roads: Continuous sidewalks will be proposed on at least one side of all
low -volume roads.
• For locations where there is existing sidewalk on the blocks adjacent to the proposed
sidewalk segment, the side of the street the existing sidewalk s are on will dictate
which side the new sidewalk is recommended.
• For locations where there is no existing sidewalk on the blocks adjacent to the
proposed sidewalk segment, both sides of the street will be evaluated for sidewalk
construction. One side will be recommended.
For high-volume roads: Continuous sidewalks will be proposed on both sides of high-
volume roads.
4. Design: The standard sidewalk design depends on the sidewalk designation: community or
neighborhood. The proposed sidewalk segments will be designated as either community or
neighborhood sidewalk based on the following definitions:
Community sidewalks are located on a street that is directly adjacent to an activity
node. They make major connections within the city and to neighboring cities’ systems.
These pedestrian facilities (sidewalks and/or trails) are spaced roughly at 1/4-mile
intervals across the city. Most of these sidewalks are located along collector and arterial
roadways that have high traffic volumes. In general, activity nodes are community or
Study session meeting of April 25, 2022 (Item No. 8) Page 5
Title: Draft sidewalk policy framework
area destinations such as; the library, schools, retail areas, parks, regional trails, transit
nodes, and places of worship.
Neighborhood sidewalks are all other sidewalks in the city. They provide accessibility
for pedestrians within the immediate area and feed into the community sidewalk
system. These sidewalks are generally located on lower-volume roads.
At the beginning of design, a standard sidewalk design section is applied to the corridor and
adjustments are made, where possible, to minimize impacts to trees and private property.
These standard designs are:
Community sidewalks: A 6-foot-wide concrete sidewalk with a 5-foot-wide grass
boulevard for community sidewalks. The extra foot of concrete on the sidewalk assists
the city with snow removal due to the width of equipment.
Neighborhood sidewalks: A 5-foot-wide concrete sidewalk with a 5-foot-wide grass
boulevard.
Staff will use the following techniques to minimize impacts to trees and private property:
• Reduce the width of the boulevard – possible reduction between 0-5 feet. Trees are not
recommended to be planted in boulevards less than 5 feet wide.
• Reduce the width of the street – parking is allowed on both sides of streets that are 28
feet wide or more. To address concerns regarding emergency vehicle access, parking is
recommended to be restricted on streets less than 28 feet wide. For streets that are less
than 28 feet wide but more than 24 feet wide, parking would be restricted to one side.
For streets 24 feet wide or less, parking would be restricted on both sides.
Next steps: If council supports the general concepts presented above for the draft sidewalk
policy framework, staff recommends that it be used to identify where sidewalks will be
evaluated on the 2023 PMP. This annual transportation project rehabilitates several miles of
local residential streets. In 2023, the streets to be rehabilitated are in Pavement Management
Area 1 (Oak Hill, Texa-Tonka, and Lenox neighborhoods) - Ward 3.
Street rehabilitation work consists of replacing the existing bituminous pavement, and replacing
the concrete curb and gutter as needed. Other work includes sidewalk repairs, sewer repairs
and watermain replacement. New sidewalks are also recommended as a part of this project.
All the streets in this project are low -volume roads, so continuous sidewalks will be proposed
on at least one side of each street segment included in the project where there is not already a
sidewalk. As we work through this first project, we will be able to refine the policy and bring it
to the June 20, 2022 study session. If the council would like to develop a formal sidewalk
policy , additional components or considerations can be discussed at that time.
Reconvene Meeting of April 25, 2022 Page 1
Title: 2022 Local Board of Appeal and Equalization
2022 Local Board of Appeal and Equalization
Reconvene – April 25, 2022
PROPOSED AGENDA
1.Reconvene the St. Louis Park Local Board of Appeal and Equalization
2.Roll Call – Declaration of Quorum
3.Acknowledgement of Trained Members (Kraft & Rog)
4.Review of Properties in Appeal
a.Board Action - Appellant & Assessing Staff are Not in Agreement
b.Board Action – Appellant has requested referral to the County Board
c.Board Action – Appellant has refused inspection, withdrawn or not responded
d.Board Action - Appellant & Assessing Staff are in Mutual Agreement
For appeals in groups a-b-c, it is suggested that the board review each parcel
individually, discuss as you will and make individual board rulings. For the mutual
agreement category, each parcel should be read into the record and the board may take
one group action per DOR direction (April 2016).
5.Instruct Assessor to Complete Record of Changes for Submittal
6.Instruct Assessor to Inform Appellants of Board Action via Mail
7.Complete the Local Board of Appeal and Equalization Certification Form
8.Adjourn if Board business is completed
Reconvene Meeting of April 25, 2022 Page 2
Title: 2022 Local Board of Appeal and Equalization
BACKGROUND for the 2022 St. Louis Park Local Board of Appeal and Equalization
All property owners are entitled to the right of appeal regarding their classification and market
value. The City is required by statute to conduct a Local Board of Appeal & Equalization
meeting to hear appeals or conduct an open book meeting with the next options being the
County Board of Appeal & Equalization and ultimately to the Minnesota State Tax Court.
The focus for the board is: the property classification which is determined by use; and the
market value which is based on the characteristics of the real estate and market conditions as
of the date of the assessment (January 2, 2022). Minnesota statute requires all properties to be
assessed at full market value, fee simple. The dominant definitions of market value are:
MN Statute 272.03 – “Market value” means the usual selling price at the place where
the property to which the term is applied shall be at the time of assessment; being the
price which could be obtained at a private sale or an auction sale, if it is determined by
the assessor that the price from the auction sale represents an arm’s length transaction.
The price obtained at a forced sale shall not be considered.
Appraisal Institute – The most probable price, as of a specified date, in cash or in terms
equivalent to cash, or in other precisely revealed terms, for which the specified property
rights should sell after reasonable exposure in a competitive market under all conditions
requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably,
and for self-interest, and assuming that neither is under undue duress. (The Appraisal of
Real Estate, 13th Edition, Appraisal Institute [2008], page 23)
The Board convened on April 11, 2022 at which meeting a total of fifty-one (51) parcels were
recognized to be under appeal. The Board set the process and scheduled the reconvene
meeting as April 25 to review the merit of each appeal and to rule on them.
A few housekeeping observations are made for the reference of the board.
•One trained and certified Board member (Kraft and/or Rog) must be present at each
meeting the Board is in session. Best practice is for multiple trained members.
•Timeline of the assessment: All valuations are set as of January 2, 2022 relative to
market activity in the preceding year. Value influences arising from the pandemic have
been reviewed from the perspective of market reactions in setting the assessment.
•The time window for the board to conclude business is 20 days after convening.
•It is essential that the Board rules on each question before it and likewise that the Board
recognizes that it can reduce, sustain, or increase valuations as deemed necessary.
•Important – DOR directive: “It is the board’s responsibility to hear all appeals presented
until the board adjourns. A property owner can present their appeal at the initial
meeting or at any of the reconvene meetings. The board must hear that appeal and
Reconvene Meeting of April 25, 2022 Page 3
Title: 2022 Local Board of Appeal and Equalization
make a decision. The board cannot dismiss the property owner’s appeal, unless the
meeting is adjourned.” The Hennepin County Assessor has reviewed that language and
requested that Local Boards accept appeals until final adjournment. We are doing so.
•At the writing of this Board packet, staff has added five (5) additional appeals to the
roster and endeavored to respond in a timely fashion.
•Prior to adjourning, the board should instruct the assessor to submit a record of their
actions on the Department of Revenue required form.
•Finally, the Local Board of Appeal Certification Form must be signed at each Board
meeting by all Board members present. The Hennepin delegate takes care of this item.
Background to Valuation Methodologies: The modeling associated with the mass assessment
accommodates variations between neighborhoods, within neighborhoods and includes
consideration of location, age, style, size, finish materials, condition, updating, etc. depending
on the information available. Adjustments and valuation change orders have been made where
necessary during the informal review process prior to the Board.
The Board process differs from mass valuation modeling in that the assessing staff re-appraises
the subject property individually by direct comparison to market transactions. As part of the
review process, staff routinely re-inspects properties to review the accuracy of attributes and
especially current condition which is often a highly important variable. Next steps are staff
engaging the property owner in a candid conversation of the property value, local transactions
and how the transactions provide a fact-based market indication of the subject property value.
If staff believes a reduction is warranted, this is disclosed to the owner in an attempt to
mutually resolve the valuation question. Likewise, if staff concludes that the valuation is at
market or slightly below we inform the owner/appellant and discuss the market information.
In cases where staff revaluation does not result in a conclusion satisfactory to the appellant, the
board process is outlined. Additional questions are very common for those owners who desire
to appear before the Board . As such, the Local Board depends on active participation from all
parties involved including the property owner, assessing staff and the board members. All
property owners are requested to state their basis of appeal, their opinion of the market value
and informed that they may present information in written form and by testimony supporting
their opinion of value and/or classification.
Reconvene Meeting of April 25, 2022 Page 4
Title: 2022 Local Board of Appeal and Equalization
Focal Points for the Board – Agenda as Indicated on Cover Sheet, decisions on:
1.Board Action – Four (4) appeals have not been resolved to a mutual agreement
between the property owner and assessing staff. It is requested that the Board hear
and decide the merits of the case. We have informed the owner that the Board allows 5-
10 minutes for their presentation followed by a 3–5-minute presentation by the
assessing staff. The Board may adjust these time allowances as needed.
2. Board Action – there are three (3) appeals where owners have indicated preference to
resolve the question at the county board level. These are a mixture of scheduling
conflicts and timeline to arrange the inspection/re-valuation work-up. We therefore
request that the board acknowledge each property as being on the roster record … to
preserve their right and eligibility to move onward to the County Board.
3.Board Action – there are eight (eight) appeals where the appellant has refused
inspection access, are non-responsive to repeated communication attempts or have
chosen to withdraw their appeal. The Board is reminded that some cases end up in this
category almost every year. We also remind the board that you may not make a value or
classification change that would benefit the property owner where they have refused
inspection access. We again ask that each property is acknowledged as being on the
roster record and thus eligible to move onward to the County Board.
4.Board Action – Forty-one (41) appeals have been reviewed with the property owner and
assessing staff reaching a mutually acceptable valuation (no classifications were
appealed). It is requested that assessing staff read each parcel action into the meeting
record after which the Board may take one group action to affirm the mutually agreed
upon valuations.
Per the DOR direction to accept appeals made after the notification date which has been
published and posted per legal requirements… they are highlighted in yellow on the reconvene
roster. Should there be additional late appeals in the time between this board packet and the
date of reconvene, we will be requesting their addition to the roster with proviso that we may
not have completed the review due to time constraints
Following your decision, each property owner will be notified via letter of the Board action and
to remind them that they are eligible to appeal to the County Board. The Hennepin County
Board of Appeal and Equalization begins June 13, 2022. An application is requested by the
County no later than May 18th. To appear before the County Board, all appellants must first
have appealed to the St. Louis Park Board of Appeal and Equalization. Property owners may
also appeal directly to the Minnesota State Tax Court.
Thank you for serving on the Board.
Prepared by: St. Louis Park Assessing Staff
Reconvene Meeting of April 25, 2022 Page 5
Title: 2022 Local Board of Appeal and Equalization
Tab Summary
Background & Focal Points for the Board
Tab 1: Roster of All Appeals for Board Action – At Time of Packet Assembly
(the final roster update will be handed out to the Board at the meeting)
Tab 2: Assessing Staff Report – 3706 France Ave S
(Owner did not supply materials for the Board report)
Tab 3: Assessing Staff Report – 2235 Quebec Ave S
(Owner did not supply materials for the Board report)
Tab 4: Assessing Staff Report – 2541 Quebec Ave S
(Owner did not supply materials for the Board report)
Tab 5: Assessing Staff Report – 6114 Excelsior Boulevard
(Owner did not supply materials for the Board report)
Reference 2022 Appealed Assessing Owner Board
Name Property Address Property ID #2021 Value Classification 2022 Value Revaluation Indicated Action
Patrick Cotter & Joleen Cotter 3706 France Ave S 06-028-24-44-0006 $454,500 R -Single Family - H $505,300 $479,000 Appeal
Pushpa Leadholm 2235 Quebec Ave S 08-117-21-22-0034 $535,100 R -Single Family - H $625,200 Sustain Appeal
Jacqueline Holmbeck 2541 Quebec Ave S 08-117-21-23-0007 $329,600 R -Single Family - H $393,400 Sustain Appeal
David Hansen 6114 Excelsior Blvd 21-117-21-23-0131 $1,100,000 A- Apartment $1,265,000 Sustain Appeal
Dimitrios Lalos 2951 Rhode Island Ave S 08-117-21-33-0132 $499,700 R - Residential - H $623,000 Hold/Inspect?To County Board
Robert Thompson Jr 8441 35th St W 18-117-21-42-0014 $283,700 R -Single Family - H $327,000 Hold/Inspect?To County Board
Brett Hoffman & Samantha Bystedt 8624 35th St W 18-117-21-42-0080 $337,400 R -Single Family - H $395,000 Hold/Pending To County Board
Steve & Margo Henke 3601 Huntington Ave S 06-028-24-41-0037 $773,200 R -Single Family - H $856,400 Inspect?Appeal
Thomas Snook & Andrea Snook 3725 Huntington Ave S 06-028-24-44-0170 $666,600 R -Single Family - H $738,800 Inspect?Appeal
Dan Cashman 2924 Texas Ave S 07-117-21-44-0007 $344,500 DB - Duplex $420,700 Inspect?Appeal
Brigita Petrovic by representative 3675 Independence Ave #43 18-117-21-33-0164 $205,000 Y - Townhome - H $251,900 Inspect?Appeal
Andrew Stoner 8201 Virginia Cir S 07-117-21-14-0054 $289,200 R -Single Family - H $326,300 Sustain No Response
Jordan Queckboerner 3224 Webster Ave S 16-117-21-24-0044 $318,000 R -Single Family - H $378,800 Inspect?No Response
RH Residential Renewal Inc.5922 34th St W 16-117-21-32-0024 $229,400 R -Single Family - NH $264,100 Sustain No Response
Erik Evans 4236 Salem Ave S 07-028-24-32-0147 $428,500 R -Single Family - H $460,400 N / A Withdraw
Kyle Flagstad 1425 Kentucky Ave S 05-117-21-42-0091 $343,100 R - Residential - H $386,600 $362,400 Mutually Agreed
Sandra Metzger 3009 Montery Ave S 06-028-24-12-0024 $237,200 RZ -Residential ZLL - H $284,500 $262,000 Mutually Agreed
Diane Siegel 3325 Glenhurst Ave 06-028-24-14-0082 $492,000 R -Single Family - H $550,700 $544,000 Mutually Agreed
Mieczyslaw Konczyk 3707 Grand Way 313 06-028-24-34-0097 $326,200 X - Condominium - H $340,100 $310,000 Mutually Agreed
Gary Krupp & Barbara Krupp 8736 Westmoreland La 06-117-21-43-0002 $624,800 R -Single Family - H $725,200 $694,000 Mutually Agreed
Stephen May 3901 Joppa Ave S 07-028-24-11-0080 $510,500 R -Single Family - H $570,900 $540,000 Mutually Agreed
Michelle Barry & Phillip Barry 4524 39th St W 07-028-24-12-0082 $422,000 R -Single Family - H $471,300 $425,000 Mutually Agreed
Thomas Enlow & Susan Enlow 4721 Vallacher Ave 07-028-24-21-0068 $388,800 R -Single Family - H $434,900 $424,000 Mutually Agreed
Lucas Rhode 4242 Wooddale Ave 07-028-24-31-0085 $333,800 R -Single Family - H $373,200 $345,000 Mutually Agreed
Dominic Ackerman 4124 Wooddale Ave 07-028-24-32-0089 $433,900 R -Single Family - H $478,200 $365,000 Mutually Agreed
Shannon O'Kane 4316 Brook Ave 07-028-24-33-0118 $486,600 R -Single Family - H $537,700 $512,000 Mutually Agreed
Bridget O'Keefe 8113 Virginia Cir N 07-117-21-14-0030 $308,300 R -Single Family - H $347,600 $325,100 Mutually Agreed
Roster - City of St. Louis Park Local Board of Appeal & Equalization - Reconvene April 25th, 2022
Reference 2022 Appealed Assessing Owner Board
Name Property Address Property ID #2021 Value Classification 2022 Value Revaluation Indicated Action
Joshua & Stephanie Schreiner 2805 Quebec Ave S 08-117-21-33-0041 $309,600 R -Single Family - H $378,600 $360,500 Mutually Agreed
Nicole Stahl 2844 Sumter Ave S 08-117-21-33-0100 $323,300 R -Single Family - H $461,000 $454,000 Mutually Agreed
Joy & Louis Peterson 2737 Hampshire Ave S 08-117-21-41-0049 $444,700 R -Single Family - H $531,400 $461,700 Mutually Agreed
Scott Johnson 2805 Edgewood Ave S 08-117-21-44-0135 $338,200 R -Single Family - NH $344,300 $283,000 Mutually Agreed
Morla Baker 2642 Yosemite Ave S 09-117-21-31-0164 $287,100 R -Single Family - H $334,300 Sustain Mutually Agreed
Jennifer Dalquist 2830 Webster Ave S 09-117-21-34-0043 $372,600 R -Single Family - H $434,800 $413,100 Mutually Agreed
David Burke & Amanda Maenner 3101 Colorado Ave S 16-117-21-22-0012 $336,900 R -Single Family - H $372,300 $361,800 Mutually Agreed
W Tepley & L Anderson Tepley 3253 Webster Ave S 16-117-21-24-0021 $305,500 R -Single Family - H $352,000 $334,400 Mutually Agreed
Janine & Brian Sparby 3056 Idaho Ave S 17-117-21-12-0034 $512,100 R -Single Family - H $612,800 Sustain Mutually Agreed
Anya Gage & Kyle Gage 3007 Aquila Ave S 18-117-21-12-0007 $406,700 R -Single Family - H $468,900 $443,600 Mutually Agreed
Richard Myers 3340 Aquila Ave S 18-117-21-13-0080 $313,100 R -Single Family - H $360,900 $245,000 Mutually Agreed
Minh Nguyen & Xuan Vu 3213 Cavell La 18-117-21-24-0012 $384,000 R -Single Family - H $442,700 $422,000 Mutually Agreed
Dana Nemer 8918 Minnehaha Cir N 18-117-21-31-0007 $352,800 R -Single Family - H $396,300 $378,000 Mutually Agreed
Douglas Zinter & Sheryl Zinter 9020 Minnehaha Cir S 18-117-21-32-0009 $357,300 R -Single Family - H $418,600 $409,000 Mutually Agreed
Daniel Gilles & Emily Gilles 3533 Zinran Ave S 18-117-21-42-0111 $355,200 R -Single Family - H $417,600 Sustain Mutually Agreed
Michelle Schmidt 3932 Brunswick Ave S 21-117-21-23-0025 $332,900 R -Single Family - H $376,400 $359,500 Mutually Agreed
Linda Hatfield 4181 Zarthan Ave S 21-117-21-31-0104 $208,700 R -Single Family - H $238,100 $222,000 Mutually Agreed
Sandra Lehamn & Alexandrine Harris 4086 Colorado Ave S 21-117-21-32-0149 $617,900 R -Single Family - H $728,500 $670,000 Mutually Agreed
Zachary Bonewell 4215 Yosemite Ave S 21-117-21-34-0045 $363,900 R -Single Family - H $412,000 $381,000 Mutually Agreed
William Bodner & Caitlin Klukas 4319 Cedar Lake Rd 31-029-24-12-0055 $571,000 R -Single Family - H $599,500 $557,000 Mutually Agreed
Matilde & Joseph Israel 2520 Kipling Ave S 31-029-24-13-0022 $448,700 R -Single Family - H $512,100 $486,500 Mutually Agreed
Elizabeth Tracy & Daniel O'Brien 2518 France Ave S 31-029-24-14-0086 $742,600 R -Single Family - NH $838,900 $751,000 Mutually Agreed
Renee Klemetsen 2559 Vernon Ave S 31-029-24-23-0017 $470,700 R -Single Family - H $526,100 $516,100 Mutually Agreed
Melanie Martz 4812 Ottawa Pl 31-029-24-31-0116 $351,200 R -Single Family - H $380,100 $357,000 Mutually Agreed
David Bahn & Vivien Bacaner 5024 29th St W 31-029-24-34-0053 $374,600 R -Single Family - H $416,000 $377,000 Mutually Agreed
Joshua Rose & Sara Rose 2816 Princeton Ave S 31-029-24-34-0113 $309,000 R -Single Family - H $349,200 $321,000 Mutually Agreed
Roster - City of St. Louis Park Local Board of Appeal & Equalization - Reconvene April 25th, 2022
2022 Local Board of Appeal and Equalization
Joleen G. Cotter
Patrick S. Cotter
3706 France Ave S
06-028-24-44-0006
2022 Assessed Value: $505,300
Recommendation: $479,000
This report is not an appraisal as defined in M.S. § 82B.02 (subd.3) nor does it comply with the Uniform Standards of
Professional Appraisal Practice. It is intended to be used as a reference only and any use other than its intended use is
prohibited and unlawful. The author does not represent this to be an appraisal and is not responsible for any inappropriate use.
It is a report of public records using a mass appraisal technique.
City of St. Louis Park
Assessing Department
2022 Local Board of Appeal and Equalization
Staff Report
Patrick S. CotterProperty Owner(s):
Joleen G. Cotter
3706 France Ave S Property Address:
06-028-24-44-0006PID #:
Market Value
$505,300Assessment Year 2022
$454,500Assessment Year 2021
$454,500Assessment Year 2020
Sale:December 1, 2005 - 430,000 (01 - Warranty Deed)
Assessor Recommendation:
$479,000
Appraiser:
LC April 11, 2022
Last Inspection Date:
Comments:
The subject property is located at 3706 France Ave S in the Minikada Vista neighborhood . The
home is a single family one-story dwelling that is currently classified as homestead.
The home is in good condition and adequately maintained throughout. In 2002 a major kitchen
remodel and reconfiguration was completed. The kitchen remodel features custom cherry
cabinetry, limestone tile flooring, Cambria counter tops and built in sound speakers. A main level
bedroom was converted to a family room adjacent to the kitchen and features a fireplace with
custom built in entertainment center. During this remodel the roof, electrical and copper plumbing
were updated. The basement bathroom was remodeled in 2004 adding a shower. The home
features 3 fireplaces, a deck and 2 car detached garage.
There are three (3) comparable sales selected as the best indicator of value for the 2022
assessment. Comparable sales are located within the subject's competitive market area.
Adjustments have been applied based on differences in amenities and physical characteristics .
These adjustments are market extracted based on paired sales analysis.
All three comparable sales utilized are considered to be excellent indicators of market value. All
three sales share similar characteristics to the subject in terms of style, quality/ condition and size.
Adjustments to the sales were minimal due to their similarities to the subject property.
An appraisal was completed in late 2020 which has not been shared with assessing staff . Based on
the market data, the appraiser's recommendation is to reduce the 2022 assessed value to $479,000
from $505,300.
2022 Board of Appeal and Equalization
Subject Data Summary
PID #:06-028-24-44-0006
Property Address:3706 France Ave S
St. Louis Park, MN 55416
Multiple Address:No
Lot/Block:000/000
Addition:Unplatted 06 028 24
Legal(120):S 60 FT OF N 160 FT OF W 135 12&100 FT O
F E 165 12&100 FT OF SE 1&4 OF SE 1/4 OF
SE 1/4 EX ALLEY
Owner(s):Patrick S Cotter
Joleen G Cotter
Property Classification:Residential - Homestead
2022 EMV:505,300
2021 EMV:454,500
2020 EMV:454,500
Last Sale:12/1/2005 - 430,000 - Warranty Deed - 01
Lot Size:7,744 Sq.Ft. / .19 Acres
Zoning:R2
Dwelling Type:Single Family
Style:One Level/Rambler
Bedrooms:3
Baths:2
Actual Year Built:1951
Gross Building Area:1,290
Basement Area:1,182
Bsmt Finished %:70
Total Finished Sq Ft:2,117
Garage #1:2 Car Detached
Garage #2:None
2022 Board of Appeal and Equalization
Additional Subject Photos
Front View
Rear View
2022 Board of Appeal and Equalization
Sales Comparables
Subject Comparable 1 Comparable 2 Comparable 3Item
0602824440006 0602824140062 0702824110107 0702824120102
3706 France Ave S 3301 Huntington Ave S 3930 France Ave S 3900 Lynn Ave S
0027 0026 0027 0027
13 13 13 13
$430,000 $461,000 $505,000 $478,200
12/01/2005 04/12/2021 08/02/2021 08/06/2021
2022 / 1 2022 / 1 2022 / 1 2022 / 1
$333.33 $377.87 $365.68 $423.19
Single Family Single Family Single Family Single Family
One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler
7,744 8,863 9,018 5,762
1951 1961 1955 1939
1990 1991 1955 1990
B07 B07 B07 B07
1,290 1,220 1,381 1,130
1,290 1,220 1,381 1,130
2,117 2,135 2,486 1,842
1,182 1,220 1,381 890
70%75%80%80%
3 3 4 3
2 2 3 2
420 529 308 216
2 2 1 1
Detached Attached Attached Detached
2 2 1 1
Egress
Central No Central Central
3 2 1 1
301 224 384 180
Thru Street Thru Street
PID
Address
Weight
Neighborhood
District
Sale Price
Sale Date
Cash Equivalent
Year / Version
Price Per Sq. Ft.
Dwelling Type
Style
Property Area
Actual Age
Effective Age
Quality Class
1st Floor Area
Total GBA
Finished Area
Basement Area
Basement Finished (%)
1st Floor Clear Ht
Total Bedrooms
Total Bathrooms
Garage 1 Floor Area
Garage 1 # of Cars
Garage 1 Placement
Total # of Cars
Walkout Type
Air Conditioning
Pool Area-Total
Fireplaces
Deck Area-Total
Porches
Dormer Length
River
Lake
Influences
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 1
Comparable 2
Comparable 3
2022 Board of Appeal and Equalization
Subject
3706 France Ave S
Comparable 2
3930 France Ave SComparable 3
3900 Lynn Ave S
Comparable 1
3301 Huntington Ave S
LYNN AVE SLYNN AVE SBB
EE
LL
TT
LL
II
N
N
EE
BB
LL
VVDDEXCELSIOR BLVDEXCELSIOR BLVDM
O
NTEREY DR
M
O
NTEREY DR
NATCHEZ AVE SNATCHEZ AVE SKIPLING AVE SKIPLING AVE SMMIINNIIKKAAHHDDAACCTTHUNTINGTON AVE SHUNTINGTON AVE SEEXXCCEELLSSIIOORRBBLLVVDDFRANCE AVE SFRANCE AVE SGLENHURST AVE SGLENHURST AVE SJOPPA AVE SJOPPA AVE SPA RK G LEN RD
PA RK G LEN RD
GLENHURST AVE SGLENHURST AVE SVALLACHER AVEVALLACHER AVEPARK CO M M O NS DRPARK CO M M O NS DRR A N D A LL A V ERANDALL A V E
36TH ST W36TH ST W
34TH ST W34TH ST W
3377TTHH SSTT WW
39TH ST W39TH ST W
38TH ST W38TH ST W
36 1/2 ST W36 1/2 ST WLYNN AVE SLYNN AVE S39TH ST W39TH ST W INGLEWOOD AVE SINGLEWOOD AVE SMONTEREY AVE SMONTEREY AVE SWW OO LLFF
EEPPKKWWYYHUNTINGTON AVE SHUNTINGTON AVE SComparables for3706 France Ave S
Subject
Comparable
450
Feet
2022 Local Board of Appeal and Equalization
Pushpa M. Leadholm
2235 Quebec Ave S
08-117-21-22-0034
2022 Assessed Value: $625,200
Recommendation: Sustain
This report is not an appraisal as defined in M.S. § 82B.02 (subd.3) nor does it comply with the Uniform Standards of
Professional Appraisal Practice. It is intended to be used as a reference only and any use other than its intended use is
prohibited and unlawful. The author does not represent this to be an appraisal and is not responsible for any inappropriate use.
It is a report of public records using a mass appraisal technique.
City of St. Louis Park
Assessing Department
2022 Local Board of Appeal and Equalization
Staff Report
Pushpa M. LeadholmProperty Owner(s):
2235 Quebec Ave S Property Address:
08-117-21-22-0034PID #:
Market Value
$625,200Assessment Year 2022
$535,100Assessment Year 2021
$509,700Assessment Year 2020
Sale:May 1, 2000 - 209,000 (01 - Warranty Deed)
Assessor Recommendation:
Sustain
Appraiser:
LC March 16, 2022
Last Inspection Date:
Comments:
The Subject property is located at 2235 Quebec Ave S in the Willow Park neighborhood. The
home is a single family two-story dwelling that is currently classified as homestead.
The home is in very good condition and well maintained throughout. In 2004 the kitchen was
remodeled featuring custom cabinetry, tile flooring, recessed lighting and solid surface counter
tops. In 2008-2009, the subject property underwent significant remodeling/ renovation and a
second story addition. Improvements include but are not limited to; six panel wood doors, tile
baths, solid surface vanity tops, baths feature dual sinks and a main suite with private deluxe
bathroom featuring whirlpool bath with separate shower. Bedrooms up feature walk in closets. In
2021 remodeling in the basement added an additional bathroom and bedroom with egress. The
finished basement also features a full kitchen and family room with private entrance to exterior.
There are four (4) comparable sales selected as the best indicator of value for the 2022 assessment.
Comparable sales are located in similar and competing market areas of St. Louis Park.
Adjustments have been applied based on differences in amenities and /or physical characteristics.
These adjustments are market extracted based on matched pairs analysis.
Comparable sales 1 and 4 are considered the best indicators of market value as they share similar
characteristics to the subject in terms of size and condition. Comparable 1 and 4 had the least
overall net/gross adjustments for differences. Comparable 2 and 3 were added as additional
support and bracket the many features of the subject property.
Based on the market data in this report, the appraisers recommendation is to sustain the 2022
assessed value of $625,200.
2022 Board of Appeal and Equalization
Subject Data Summary
PID #:08-117-21-22-0034
Property Address:2235 Quebec Ave S
St. Louis Park, MN 55426
Multiple Address:No
Lot/Block:021/003
Addition:Westwood Hills First Addition
Legal(120):
Owner(s):Pushpa M Leadholm
Property Classification:Residential - Homestead
2022 EMV:625,200
2021 EMV:535,100
2020 EMV:509,700
Last Sale:5/1/2000 - 209,000 - Warranty Deed - 01
Lot Size:10,667 Sq.Ft. / .24 Acres
Zoning:R1
Dwelling Type:Single Family
Style:Two Story
Bedrooms:6
Baths:5
Actual Year Built:1957
Gross Building Area:2,668
Basement Area:1,344
Bsmt Finished %:80
Total Finished Sq Ft:3,743
Garage #1:2 Car Attached
Garage #2:None
2022 Board of Appeal and Equalization
Additional Subject Photos
Front View
Dining Living
2022 Board of Appeal and Equalization
Additional Subject Photos
Kitchen
Bath1View1
2022 Board of Appeal and Equalization
Additional Subject Photos
Bath1View2
Bath2
2022 Board of Appeal and Equalization
Additional Subject Photos
Bath3
Bath4
2022 Board of Appeal and Equalization
Additional Subject Photos
Bath4View2
Bath5
2022 Board of Appeal and Equalization
Additional Subject Photos
Bath5View2
Basement kitchen and FamRm
2022 Board of Appeal and Equalization
Additional Subject Photos
Street View
2022 Board of Appeal and Equalization
Subject Sketch
Field Card Sketch
2022 Board of Appeal and Equalization
Sales Comparables
Subject Comparable 1 Comparable 2 Comparable 3Item
0811721220034 0711721430085 1611721230122
2235 Quebec Ave S 8610 Minnetonka Blvd 3309 Dakota Ave S
0006 0012 0019
03 05 09
$209,000 $575,000 $543,000
05/01/2000 03/09/2021 12/15/2021
2022 / 1 2021 / 1 2022 / 1
$78.34 $260.42 $227.01
Single Family Single Family Single Family
Two Story Two Story Two Story
10,667 13,806 6,931
1957 2009 2007
2000 2009 2007
B06 B06 B06
1,604 1,104 1,020
2,668 2,208 2,392
3,743 3,036 2,392
1,344 1,104 1,020
80%75%
6 3 4
5 4 3
420 624 440
2 2 2
Attached Attached Built-In
2 2 2
Standard Walkout Standard Walkout
Central Central Central
2 1 1
252 240 345
368 96
Thru Street Thru Street
PID
Address
Weight
Neighborhood
District
Sale Price
Sale Date
Cash Equivalent
Year / Version
Price Per Sq. Ft.
Dwelling Type
Style
Property Area
Actual Age
Effective Age
Quality Class
1st Floor Area
Total GBA
Finished Area
Basement Area
Basement Finished (%)
1st Floor Clear Ht
Total Bedrooms
Total Bathrooms
Garage 1 Floor Area
Garage 1 # of Cars
Garage 1 Placement
Total # of Cars
Walkout Type
Air Conditioning
Pool Area-Total
Fireplaces
Deck Area-Total
Porches
Dormer Length
River
Lake
Influences
0711721110055
1808 Westwood Hills Dr
62
0004
04
$657,000
07/27/2021
2022 / 1
$256.44
Single Family
Two Story
13,868
1964
1979
B07
1,279
2,562
3,074
1,279
40%
4
4
529
2
Attached
2
Central
3
345
2022 Board of Appeal and Equalization
Sales Comparables
Item Comparable 4Subject
0811721220034 1711721330043
2235 Quebec Ave S 3620 Quebec Ave S
70
0006 0016
03 08
$209,000 $655,000
05/01/2000 06/15/2021
2022 / 1 2022 / 1
$78.34 $254.86
Single Family Single Family
Two Story Two Story
10,667 9,754
1957 2007
2000 2007
B06 B06
1,604 1,290
2,668 2,570
3,743 3,538
1,344 1,290
80%75%
6 4
5 4
420 720
2 3
Attached Detached
2 3
Standard Walkout
Central Central
2 2
252 112
102
PID
Address
Weight
Neighborhood
District
Sale Price
Sale Date
Cash Equivalent
Year / Version
Price Per Sq. Ft.
Dwelling Type
Style
Property Area
Actual Age
Effective Age
Quality Class
1st Floor Area
Total GBA
Finished Area
Basement Area
Basement Finished (%)
1st Floor Clear Ht
Total Bedrooms
Total Bathrooms
Garage 1 Floor Area
Garage 1 # of Cars
Garage 1 Placement
Total # of Cars
Walkout Type
Air Conditioning
Pool Area-Total
Fireplaces
Deck Area-Total
Porches
Dormer Length
River
Lake
Influences
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 1
Comparable 2
Comparable 3
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 4
2022 Board of Appeal and Equalization
Subject
2235 Quebec Ave S
Comparable 4
3620 Quebec Ave S
Comparable 3
3309 Dakota Ave S
Comparable 2
8610 Minnetonka Blvd
Comparable 1
1808 Westwood Hills Dr
7
5LOUISIANA AVE SLOUISIANA AVE SMIN NE TO NK A BLVDMINNETONKA BLVD
TEXAS AVE STEXAS AVE SFFRRAANN KKLLII NNAAVVEEWW
TEXAS AVE STEXAS AVE SCCEEDDAARRLLAAKKEERRDDQQ
UU
EE
BB
EE
CC
AA
VV
EE
SS
36TH ST W36TH ST W QUEBEC AVE SQUEBEC AVE SComparables for2235 Quebec Ave S
Subject
Comparable
1,100
Feet
2022 Local Board of Appeal and Equalization
Jacqueline Holmbeck
2541 Quebec Ave S
08-117-21-23-0007
2022 Assessed Value: $393,400
Recommendation: Sustain
This report is not an appraisal as defined in M.S. § 82B.02 (subd.3) nor does it comply with the Uniform Standards of
Professional Appraisal Practice. It is intended to be used as a reference only and any use other than its intended use is
prohibited and unlawful. The author does not represent this to be an appraisal and is not responsible for any inappropriate use.
It is a report of public records using a mass appraisal technique.
City of St. Louis Park
Assessing Department
2022 Local Board of Appeal and Equalization
Staff Report
Jacqueline HolmbeckProperty Owner(s):
2541 Quebec Ave S Property Address:
08-117-21-23-0007PID #:
Market Value
$393,400Assessment Year 2022
$329,600Assessment Year 2021
$301,800Assessment Year 2020
Sale:October 16, 2020 - 366,500 (01 - Warranty Deed)
Assessor Recommendation:
Sustain
Appraiser:
JO April 7, 2022
Last Inspection Date:
Comments:
The subject property is located at 2541 Quebec Ave South in the Willow Park neighborhood. The
home is a single-family rambler style that is currently classified as homestead.The subject
property sold in October 2020 for $366,500 ... notable as being within the timeline for the sales
period used in setting the 2022 assessment. The time trended sale price fully supports the assessed
market value of record. .
The home is in good condition. The basement bath was remodeled in 2005 and the main floor bath
was remodeled in 2017 with new vanity, tiling and shower. The kitchen is in good shape but
features older cabinetry along with tiled flooring.
There are four (4) comparable sales reviewed for revaluation consideration for the 2022
assessment appeal. Comparable sales are located within the subject’s competitive market area.
Adjustments have been applied based on differences in amenities and/or physical characteristics.
These adjustments are market extracted based on paired sales analysis.
The comparables are considered to be credible indicators of market value as they have similar
characteristics relative to the subject in terms of quality, size and overall market appeal. The
adjustments were made to account for the predominant differences in bath count and condition
ranking. The subject is in close proximity to rail lines with comparables 1, 2, 3, located on a high
traffic artery and comparable 4 is directly adjacent to rail tracks. We view the traffic influence for
comparables 1, 2, and 3 to be similar to the subject rail influence with comparable #4 specifically
chosen as the matched pair adjustment extraction (comp #4 is directly abutting a rail line). Based
on the market information reviewed, the recommendation is to sustain the 2022 Assessed value at
$393,400.
2022 Board of Appeal and Equalization
Subject Data Summary
PID #:08-117-21-23-0007
Property Address:2541 Quebec Ave S
St. Louis Park, MN 55426
Multiple Address:No
Lot/Block:007/001
Addition:South Westwood Hills
Legal(120):
Owner(s):Jacqueline Holmbeck
Property Classification:Residential - Homestead
2022 EMV:393,400
2021 EMV:329,600
2020 EMV:301,800
Last Sale:10/16/2020 - 366,500 - Warranty Deed - 01
Lot Size:10,628 Sq.Ft. / .24 Acres
Zoning:R1
Dwelling Type:Single Family
Style:One Level/Rambler
Bedrooms:3
Baths:2
Actual Year Built:1959
Gross Building Area:1,152
Basement Area:1,104
Bsmt Finished %:75
Total Finished Sq Ft:1,980
Garage #1:2 Car Attached
Garage #2:None
2022 Board of Appeal and Equalization
Additional Subject Photos
Front View
2022 Board of Appeal and Equalization
Subject Sketch
Sketch
2022 Board of Appeal and Equalization
Sales Comparables
Subject Comparable 1 Comparable 2 Comparable 3Item
0811721230007 0811721230022 0811721230030 0811721230062
2541 Quebec Ave S 2420 Sumter Ave S 7931 Cedar Lake Rd 2417 Rhode Island Ave S
95 85 90
0006 0006 0006 0006
03 03 03 03
$366,500 $390,000 $374,000 $470,000
10/16/2020 01/21/2021 09/23/2021 06/15/2021
2022 / 1 2021 / 1 2022 / 1 2022 / 1
$318.14 $320.46 $318.03 $392.98
Single Family Single Family Single Family Single Family
One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler
10,628 11,745 11,700 11,310
1959 1951 1952 1956
1984 1981 1972 1976
B08 B08 B08 B08
1,152 1,217 1,176 1,196
1,152 1,217 1,176 1,196
1,980 2,130 1,529 2,272
1,104 1,217 1,176 1,196
75%75%30%90%
3 4 2 5
2 2 2 3
440 440 400 280
2 2 2 1
Attached Attached Attached Attached
2 2 2 1
Central Central Central Central
2 2 2 2
220
24 140 120 126
Thru Street Thru Street Thru Street
PID
Address
Weight
Neighborhood
District
Sale Price
Sale Date
Cash Equivalent
Year / Version
Price Per Sq. Ft.
Dwelling Type
Style
Property Area
Actual Age
Effective Age
Quality Class
1st Floor Area
Total GBA
Finished Area
Basement Area
Basement Finished (%)
1st Floor Clear Ht
Total Bedrooms
Total Bathrooms
Garage 1 Floor Area
Garage 1 # of Cars
Garage 1 Placement
Total # of Cars
Walkout Type
Air Conditioning
Pool Area-Total
Fireplaces
Deck Area-Total
Porches
Dormer Length
River
Lake
Influences
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 1
Comparable 2
Comparable 3
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 4
2022 Board of Appeal and Equalization
Sales Comparables
Item Comparable 4Subject
0811721230007 0711721410020
2541 Quebec Ave S 2661 Burd Pl
0006 0005
03 03
$366,500 $407,000
10/16/2020 10/08/2021
2022 / 1 2022 / 1
$318.14 $424.84
Single Family Single Family
One Level/Rambler One Level/Rambler
10,628 10,577
1959 1964
1984 1999
B08 B08
1,152 958
1,152 958
1,980 1,800
1,104 936
75%90%
3 4
2 2
440 288
2 1
Attached Attached
2 1
Egress
Central Central
2 2
168
24
Railroad
PID
Address
Weight
Neighborhood
District
Sale Price
Sale Date
Cash Equivalent
Year / Version
Price Per Sq. Ft.
Dwelling Type
Style
Property Area
Actual Age
Effective Age
Quality Class
1st Floor Area
Total GBA
Finished Area
Basement Area
Basement Finished (%)
1st Floor Clear Ht
Total Bedrooms
Total Bathrooms
Garage 1 Floor Area
Garage 1 # of Cars
Garage 1 Placement
Total # of Cars
Walkout Type
Air Conditioning
Pool Area-Total
Fireplaces
Deck Area-Total
Porches
Dormer Length
River
Lake
Influences
2022 Board of Appeal and Equalization
Subject
2541 Quebec Ave S
Comparable 3
2417 Rhode Island Ave S
Sale Price: $470,000
Comparable 32249 Quebec Ave SSale Price: $405,000
Comparable 1
2420 Sumter Ave S
Sale Price: $390,000
Comparable 2
7931 Cedar Lake Rd
Sale Price: $374,000
Comparable 4
2661 Burd Pl
Sale Price: $407,000
C E D A R L A K E R DCEDAR L A K E R DTEXAS AVE STEXAS AVE SV IC T O R IA C U R VVICTORIA C U R V
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VIRGINIA AVE S
VIRGINIA AVE S VVIICCTTOORRIIAACC II RR
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A
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T
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RRHHOODDEEIISSLLAANNDDAAVV EE SSRRHHOODDEEIISSLLAANNDDAAVVEESS26TH S T W26TH S T W
SUMTER AVE SSUMTER AVE SRHODE ISLAND AVE SRHODE ISLAND AVE SQUEBEC AVE SQUEBEC AVE SPENNSYLVANIA AVE SPENNSYLVANIA AVE S24TH ST W24TH ST WWWEESSTTWWOOOODDHHIILLLLSS DDRR
PPEENNNNSSYYLLVVAANNIIAAAAVVEESSRRHHOODDEEIISSLLAANNDDAAVVEESSVVIIRRGGIINNIIAACCIIRRNN SUMTER AVE SSUMTER AVE SComparables for2541 Quebec Ave S
Subject
Comparable
300
Feet
2022 Local Board of Appeal and Equalization
David Hansen
6114 Excelsior Blvd
21-117-21-23-0131
2022 Assessed Value: $1,265,000
Recommendation: Value range of $1,265,000 to $1,375,000
This report is not an appraisal as defined in M.S. § 82B.02 (subd.3) nor does it comply with the Uniform Standards of
Professional Appraisal Practice. It is intended to be used as a reference only and any use other than its intended use is
prohibited and unlawful. The author does not represent this to be an appraisal and is not responsible for any inappropriate use.
It is a report of public records using a mass appraisal technique.
City of St. Louis Park
Assessing Department
2022 Local Board of Appeal and Equalization
Staff Report
David HansenProperty Owner(s):
6114 Excelsior Blvd Property Address:
21-117-21-23-0131PID #:
Market Value
$1,265,000Assessment Year 2022
$1,100,000Assessment Year 2021
$1,100,000Assessment Year 2020
Sale:December 1, 2002 - 492,000 (01 - Warranty Deed)
Assessor Recommendation:
Value range of $1,265,000 to $1,375,000
Appraiser:
BN April 18, 2022
Last Inspection Date:
Comments:
The subject is a Class C, 11 unit apartment building with a unit mix of six one-bedroom units and
five two-bedroom units. The property was constructed in 1949 and is considered to be in average
condition with minimal updates.
Ownership has provided 2021 and 2022 rent rolls as well as the 2020 income and loss tax
document for the property and has claimed below market rental rates due to long term tenants. A
review of the documents provided confirms the rental rates are below market for similar
properties. Adjusting the rents to market and allowing for market vacancy and collection losses as
well as expenses confirms the subject's assessed valuation is warranted.
Class C apartment buildings in surrounding jurisdictions were analyzed. Three Class C apartment
buildings with minimal updating sold in St. Louis Park from 2019 to present. The sale price per
unit of these properties are $124,000, $125,426, & $135,800 compared to the subject's assessed
valuation of $115,000 per unit.
Based on our direct market research and market reporting analytics, the average sale price per unit
for Class C multi-family properties in the St. Louis Park/Hopkins submarket is $135,000.
Vacancies in this submarket have dropped to 3.4% for this property class and effective rents are
up 3.18% .
Given the comparable sales of similar properties as well as the indicated market income analysis, a
value range between $1,265,000 to $1,375,000 ($115,000 to $125,000 per unit) is indicated. We
recommend sustaining the valuation at $1,265,000.
2022 Board of Appeal and Equalization
Additional Subject Photos
2022 Board of Appeal and Equalization
Additional Subject Photos
2022 Board of Appeal and Equalization
Sales Comparables
Comparable 1
Comparable 2
Comparable 3
2022 Board of Appeal and Equalization
Address 6114 Excelsior Blvd Age & Condition 1980-Avg
Property ID # 21-117-21-23-0131 Unit Mix 6 - 1 bedroom & 5- 2 bedroom
2021 Mkt Value $1,100,000 Total Units 11
2022 Mkt Value $1,265,000 Total value vs. total unit count $115,000
1 Address 1345 Idaho Ave S Sale Date 9/30/2019
Property ID# 05-117-21-42-0032 Age & Condition 1961 - Avg
C.E. Sale Price $1,491,600 Unit Mix 1 - Studio; 1 - 1 bedroom; 10 - 2 bedroom
Buyer Artemis Living-1345 Idaho LLC Total Units 12
Seller 1345 Idaho LLC Sale Price per Unit $124,300
2 Address 8216 31st St W Sale Date 9/30/2021
Property ID# 18-117-21-11-0042 Age & Condition 1962 - Avg
C.E. Sale Price $2,132,250 Unit Mix 5 - 1 bedroom; 12 - 2 bedroom
Buyer Aquila Flats LLC Total Units 17
Seller Shree Investments LLC Sale Price per Unit $125,426
Property under Appeal -- 6114 Excelsior Boulevard -- 11 unit Apartment
Comparable Sales
3 Address 3063 Virginia Ave S Sale Date 3/28/2022
Property ID# 18-117-21-11-0048 Age & Condition 1962 - Avg
C.E. Sale Price $3,123,400 Unit Mix 10 - 1 bedroom; 13 - 2 bedroom
Buyer Virginia Oaks LLC Total Units 23
Seller 3345 Colfax LLC Sale Price per Unit $135,800
Subject
6114 Excelsior Blvd
Comparable 1
1345 Idaho Ave S
Comparable 3
3063 Virginia Ave S
Comparable 2
8216 31st St W
7
394
100
100
3
7
5
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LOUISIANA AVE SLOUISIANA AVE S16TH ST W16TH ST W
EEXXCCEELLSSIIOORR BBLLVVDD
CCEEDDAARRLLAAKKEERRDD
CC EE DD AA RR LLAAKKEERRDDLLOOUUIISSI
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AANNAAAAVVEESSTEXAS AVE STEXAS AVE STEXAS AVE STEXAS AVE SPARK PLACE BLVDPARK PLACE BLVD14TH ST W14TH ST W
FFRRAANNKKLLIINN AA VV EEWW16TH ST W16TH ST W16TH ST W16TH ST W
Comparables for6114 Excelsior Blvd
Subject
Comparable
1,600
Feet