04-9494r
94
RESOLUTION NO. 9494
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT
6520 CEDAR AVENUE
AIRPORT NOISE ACQUISITION PROGRAM
WHEREAS, on September 10, 2001, the City Council approved the acquisition
strategy for residential property in the airport mitigative area, using $10 million in federal
funds secured by Congressman Sabo; and
WHEREAS, on March 26, 2002, the City Council approved an agreement
(Agreement) with the Metropolitan Airports Commission (MAC) to provide $10 million of
Federal Aviation Administration (FAA) airport improvement program funds to the City of
Richfield to purchase properties (including all related costs) that are, or will be, negatively
impacted by airport operations; and
WHEREAS, within the aforementioned airport mitigative area the real property
identified for purchase is:
Property Address
6520 Cedar Ave S
Legal Description
Lot 4 and the south 71 feet of Lot 5, Block 1, Iverson's Third
Addition
Together with all abutting streets and alleys, vacated or to be
vacated, and all easements, gaps, overlaps and gores,
appurtenant thereto
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
qualified independent professional appraisers to determine fair market value of real estate;
and
WHEREAS, the City has extended an offer of fair market value, as determined by
qualified independent professional appraisers, of $620,000 to the owners of real property
at 6520 Cedar Avenue; and
WHEREAS, the owners of real property at 6520 Cedar Avenue have presented a
counter offer to the City for the purchase of the property in the amount of $645,000; and
WHEREAS, the City is authorized to negotiate for the purchase of property and to
extend purchase offers to owners within 110 percent of the appraised value, up to
$25,000.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That the just compensation amount of $645,000 for the purchase of 6520 Cedar
Avenue is hereby approved.
2. That the City's acquisition/negotiation/relocation consultant, Conworth, Inc., is
authorized to present a purchase offer of the approved amount to the property owners.
Adopted by the City Council of the City of Richfield, Minnesota this 10th day of
August, 2004. /J;;j;.". _ L.
ATTEST:
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