03-9297r
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RESOLUTION NO. 9297
RESOLUTION ESTABLISHING JUST COMPENSATION FOR IMMOVABLE
FIXTURES FOR 6700 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
listed within Exhibit A is identified for purchase; 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 properties to be made
by qualified independent professional appraisers to determine fair market value of real
estate and immovable fixtures; and
WHEREAS, qualified review appraisers for the real property and immovable
fixtures have certified the appraisal reports as being in conformity with professional
appraisal standards, the Uniform Standards of Professional Appraisal Practice (USPAP)
of the Appraisal Foundation and the Code of Ethics and Standards of Professional
Appraisal Practice of the Appraisal Institute, Appraisal Specifications (5-491.203) set
forth in the State of Minnesota's Right of Way Manual, and the Federal Aviation
Administration's (FAA) Preparation of Real Estate Appraisals, Appraisal Report Content,
Detailed Appraisals and Appraisal Reviews; and
WHEREAS, on September 12, 2002, the City Council established just
compensation for the real property listed within Exhibit B and authorized Conworth, Inc.
to present a purchase offer to the property owner; and
WHEREAS, the fair market value for immovable fixtures for the subject real
property, as recommended by the review appraisers and approved by MAC, is listed
within Exhibit B.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. That the just compensation amount for the immovable fixtures listed in Exhibit B is
hereby approved;
2. That the City's acquisition/negotiation/relocation consultant, Conworth, Inc., is
authorized to continue to negotiate with the property owner the purchase of the
property for the amounts listed in Exhibit B.
Adopted by the City Council of the City of Richfield, Minnesota this 28th day of
January, 2003. .\ / . ()
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ATTEST:
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Nancy Gibbs, ity Clerk
EXHIBIT A
Pro e Address
6700 Cedar Ave S
Le al Descri tion
Lots 1 & 2, Block 4, Wexlers Addition
Together with all abutting streets and alleys, vacated or to be
vacated, and all easements, gaps, overlaps and gores,
a urtenant thereto
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EXHIBIT B
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Property Address Fair Market Value Fair Market Value
Real Property Immovable Fixtures Total
6700 Cedar Avenue S .. $320,000 $15,200 $335,200
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