01-8997r
29
RESOLUTION NO. 8997
RESOLUTION AUTHORIZING EXECUTION OF A STIPULATION OF FINAL
SETTLEMENT FOR 6421 CEDAR AVENUE
(66TH STREET/TRUNK HIGHWAY 77 INTERCHANGE PROJECT)
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property pursuant to and in furtherance of the 66th StreetlTrunk Highway 77 Interchange
Project (Project) heretofore adopted by the City of Richfield (City) said real property being
described as follows:
Lot 6, Block 8, New Ford Town,
Hennepin County, Minnesota
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 Council has adopted a layout for Project improvements; and
WHEREAS, the Project improvements necessitate the purchase of real property;
and
WHEREAS, the City is authorized by Minnesota Statutes to acquire real property
within its corporate boundaries; and
WHEREAS, the Metropolitan Airports Commission (MAC) is initially funding the
Project; 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 immovable fixtures and equipment appurtenant thereto; and
WHEREAS, a qualified review appraiser has certified the appraisal reports as being
in conformity with appraisal standards; and
WHEREAS, a qualified fixture review appraiser has certified the fixture appraisal
report as being in conformity with appraisal standards; and
WHEREAS, MAC has reviewed all appraisal reports and review appraisal reports
prepared for the subject property and has recommended that the just compensation for the
real estate be determined by the City Council to be $315,000, and that the just
compensation for the immovable fixtures and equipment appurtenant thereto be
determined by the City Council to be $28,370; and
WHEREAS, on July 24, 2000, the City Council approved just compensation for the
real estate in the amount of $315,000, and for immovable fixtures and equipment
appurtenant thereto in the amount of $28,370 and did make an offer to the property owner
in said amounts; and
WHEREAS, the City Council authorized condemnation of the subject property on
August 14, 2000, such proceedings were commenced on behalf of the City by the City
Attorney, and
WHEREAS, the City Attorney has reached a settlement with the property owner in
the amount of $370,000 with the right to remove fixtures valued at $6,720 and MAC has
concurred with the terms of final settlement.
NOW, THEREFORE, BE IT RESOLVI;:D by the City Council of the City of Richfield,
Minnesota as follows:
1. That the proposed settlement amount of $370,000 with owner's right to remove fixtures
valued at $6,720 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 pursLJant to the Stipulation of Fined Settlement.
Adopted by the City Council of the City of RiGhfield, Minnesota this 8th day of
January, 2001.
1L
ayor
ATTEST: