He called upon Ed Caffrey of St. Paul, a licensed real estate appraiser who he said has done considerable appraising in this region. Caffrey spoke briefly explaining that his determination of value is not increased by such things as new sewer and water systems. He said that when he appraises a home, he is satisfied that the system is okay if he flushes the toilet and it works. Caffrey told the council that the work done in the Cedar Street project would increase the property values marginally than then primarily because of the curb and gutter. They would not have increased the home values, he said, to the level of these assessments.
Market value is driven by previous sales.
Borden concluded his remarks and questions by stressing to the council that the people living in the project area were asking for fairness. He said no one wanted to see this matter escalate from assessment to challenges and then back to the council. Residents speak A number of residents within the project area spoke to the council. Steve Elkins said that the improvements were not just benefitting existing homeowners. He pointed out that the present congestion in the city is forcing people to take the side streets to avoid the blocks-long traffic on the primary roads.