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OMEGA 2707 Wetmore Avenue <br /> litel Everett, WA 98201 <br /> ENGINEERING, INC. t 425.387.3820 <br /> f 425.259.1958 <br /> June 19, 2019 <br /> Thad Newport <br /> Engineering/Permit Services <br /> City of Everett <br /> RE: Property Valuation for Use of Redevelopment Flow Chart for Minimum Req. Application. <br /> Permit Application #: B1902-008/PW1905-034 <br /> Dear Thad, <br /> This letter is intended to summarize the assessed value of the two parcels being improved as a <br /> part of this project. The two parcels are TPN: 28051800207800 & 28051800200100, both <br /> owned by St. Mary Magdalen Parish-Everett. The DOE and City code requires that projects <br /> with greater than 35% impervious coverage and proposes to construct improvements that value <br /> at 50% or less than the assessed value. <br /> The valuation of the existing site Market Total (includes land and improvement values) from the <br /> Snohomish County Assessors website is provided in the Property Account Summary printouts <br /> included with this letter for each parcel. The valuations for the two parcels which are a part of <br /> the project improvements for this application are as follows: <br /> TPN: 28051800207800 $3,192,800 (Market Total —2019) <br /> 28051800200100 $6,539,600 (Market Total —2019) <br /> Project Market Total $9,732,400 (2019) <br /> 50%Assessed Value $4,866,200 <br /> Based on the contractor's bid for this project, the total cost of the improvements including the <br /> remodel/addition and site improvements both inside and outside the building is $3,500,000. <br /> Therefore, this project does not exceed a 50% increase in the improvement value based on the <br /> 2019 assessed values for these parcels. <br /> Since it is clear from aerial photos that the project parcels contain more than 35% impervious <br /> surfaces prior to this project and as shown above the project will not add more than 50% to the <br /> property valuation this project falls under the redevelopment code for determination of <br /> stormwater mitigation minimum requirements. This supports the design previously submitted to <br /> the City for review. <br /> Thank you for taking the time to review the revised plans for this project. Please feel free to <br /> contact me with any questions you may have. <br /> Since <br /> osmeby, P.E. <br /> Omega Engineering, Inc. <br />