01-9032r
64
RESOLUTION NO. 9032
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT
6400 AND 6408 - 18TH AVENUE
WHEREAS, the 2000 Minnesota State Legislature authorized the City of Richfield
(City) to acquire residential property within two blocks of Trunk Highway 77 and within the
87dB; and
WHEREAS, within the aforenoted area the following real property is identified for
purchase:
Lots 15 and 16, Block 5 Iverson's Second Addition, Hennepin County, Minnesota
Together with all abutting streets and alleys, vacated or to be vacated, and all
easements, gaps, and overlaps appurtenant thereto; and
WHEREAS, Department of Trade and Economic Development (DTED) funds in the
amount of $5 million are available to the City for the purchase of the real property and
related expenses; and
WHEREAS, the City has accepted a plan for the purchase of properties along 18th
Avenue S. north of 66th Street; 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, a qualified review appraiser has certified the appraisal reports as being
in conformity with appraisal standards; and
WHEREAS, those values are as follows:
Just Com ensation Amount
$145,000
$157,000
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That the just compensation amounts in the table above are approved.
2. That performance on the offers to purchase and related expenses is subject to
availability of DTED funds including a deduct for the cost of site clearance expenses.
3. That the City's consultant is authorized to present offers of said amount to the
respective property owners.
Adopted by the City Council of the City of Richfield, Minnesota this 23rd day of April,
2001. I I -~
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Martin J. Kirsch, ayor