03-9353r
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RESOLUTION NO. 9353
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT
6412 AND 6444 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
6412 Cedar Ave S
Legal Description
Lots 4 and 5 and the north 1/2 of Lot 3, Block 2, Iversons Third
Addition
6444 Cedar Ave S
Together with all abutting streets and alleys, vacated or to be
vacated, and all easements, gaps, overlaps and gores,
appurtenant thereto
Lots 1 and 2 and the south 1/2 of Lot 3, Block 2, Iversons Third
Addition
Together with all abutting streets and alleys, vacated or to be
vacated, and all easements, gaps, overlaps and gores,
appurtenant thereto; 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
WHEREAS, qualified review appraisers for the real property 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, the fair market values, as recommended by the review appraisers and
approved by MAC and recently updated to reflect current market conditions, are 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 amounts are approved for the purchase of 6412 Cedar
Avenue at $998,000 and for 6444 Cedar Avenue at $998,000, Exhibit B are hereby
approved.
2. That the City's acquisition/negotiation/relocation consultant, Conworth, Inc., is I
authorized to present purchase offers of approved amounts to the respective property
owners.
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of July,
2003.
ATTEST:
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