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RESOLUTION NO. 9203
RESOLUTION AUTHORIZING EXECUTION OF A STIPULATION OF
FINAL SETTLEMENT FOR 6429-6445 CEDAR AVENUE (PARCELS 13-16)
(66TH STREET/TRUNK HIGHWAY 77 INTERCHANGE PROJECT)
WHEREAS, the City of Richfield, Minnesota ("City") acquired the property located at
6429-6445 Cedar Avenue in eminent domain proceedings in furtherance of the 66th
StreetlTrunk Highway 77 Interchange Project (the "Project"), said property being described
as follows ("Subject Property"):
Lots 9, 10, 11 and 12, Block 8, New Ford Town, Hennepin County,
Minnesota;
and
WHEREAS, the Metropolitan Airports Commission ("MAC") is funding property
purchases for the Project; and
WHEREAS, the City Attorney has negotiated a final settlement in the amount of
$485,000 for the real estate plus $35,000 for fees and interest; and
WHEREAS, MAC concurs with the amount of the settlement.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That the settlement amount of $485,000 plus $35,000 in fees and interest is
hereby approved.
2. That the City Manager and Mayor are authorized to execute the Stipulation of
Final Settlement and take all other actions necessary to complete the
obligations of the City pursuant to its terms.
3. That the City Attorney is authorized to take all actions necessary to complete
the obligations of the City pursuant to the Stipulation of Final Settlement.
Adopted by the City Council of the City of Richfield, Minnesota this 9th day of July,
2002.
~~u
Martin J.' , Mayor
ATTEST: