2005 Minnesota Statutes

     469.032 Use value. 

    Subdivision 1.    Determination.  Prior to lease or sale 
 of land in a project area, the authority shall, as an aid in 
 determining the rentals and other terms upon which it will lease 
 or the price at which it will sell the area or parts of it, 
 place an estimated fair market or rental value upon each piece 
 or tract of land within the area which, in accordance with the 
 plan, is to be used for private uses or for low-rent housing.  
 The value shall be based on the planned use.  For the purpose of 
 this valuation, the authority may cause a fair market appraisal 
 to be made by two or more land value experts employed by it for 
 the purpose or it may use the land appraisal services of the 
 municipality.  Nothing contained in this section shall be 
 construed as requiring the authority to base its rentals or 
 selling prices upon the appraisal.  The authority may 
 redetermine its estimated values both prior to and after receipt 
 by it of any proposal or proposals to purchase or lease property.

    Subd. 2.    Use value.  The aggregate use value placed 
 for purposes of lease or sale upon all land within a project 
 area leased or sold by an authority pursuant to sections 469.001 
 to 469.047 shall exclude the cost of old buildings destroyed and 
 the demolition and clearance thereof. 

    HIST: 1987 c 291 s 32