06-9788r
RESOLUTION NO. 9788
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT 6600 17TH AVENUE, 6601 16TH
AVENUE, 1614 EAST 66TH STREET AND 1620 EAST 66TH STREET
WHEREAS, On October 25, 2005, the City Council (City) approved a two-lane
roundabout design for the new intersection at 66th Street and 17th Avenue and a financing
plan concept for proposed improvements;
WHEREAS, the real property described in Exhibit A is identified for purchase by the
City; and
WHEREAS, interim funds are available from the Capital Improvement Reserve
Funds for the purchase of the real property and related expenses described in Exhibit A;
and
WHEREAS, funds from a Special Assessment Bond will be available to the City for
reimbursement of acquisition and relocation costs related expenses; and
WHEREAS, the City is authorized by Minnesota Statutes to acquire real property
within its corporate boundaries; and
WHEREAS, the City has caused appraisals for the subject property to be made by
a qualified independent professional appraiser to determine fair market value of real
estate; and
WHEREAS, the fair market value of the real properties are identified in Exhibit B.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That just compensation for the real properties identified in Exhibit B is approved.
2. That the City's consultant is authorized to present offers of said amounts to the
respective property owners.
3. That the City's consultant is authorized to undertake all other necessary actions to
purchase said property on behalf of the City.
Adopted by the City Council of the City of Richfield, Minnesota this 27th day of
June, 2006.
ATTEST:
EXHIBIT A
Prop rty Addr ss L gal D scription
6600 - 17th Avenue Lot 1, Block 1, Cedar Sunrise Addition, Hennepin County,
Minnesota
Together with all abutting streets and alleys, vacated or to be
vacated, an all easements gaps, overlaps and gores, appurtenant
thereto
6601 - 16th Avenue Lot 16, Block 1, Cedar Sunrise Addition, Hennepin County,
Minnesota
Together with all abutting streets and alleys, vacated or to be
vacated, an all easements gaps, overlaps and gores, appurtenant
thereto
1614 East 66th Street Lot 2, Block 5, Iverson's Third Addition, Hennepin County,
Minnesota
Together with all abutting streets and alleys, vacated or to be
vacated, an all easements gaps, overlaps and gores, appurtenant
thereto
1620 East 66th Street Lot 1, Block 5, Iverson's Third Addition, Hennepin County,
Minnesota
Together with all abutting streets and alleys, vacated or to be
vacated, an all easements gaps, overlaps and gores, appurtenant
thereto
Property Address
6600 - 17th Avenue
6601 - 16th Avenue
1614 East 66th Street
1620 East 66th Street
EXHIBIT B
Fair Market Value
$250,000
$200,000
$211,000
$224,000