01-9101r
33
RESOLUTION NO. 9101
RESOLUTION AUTHORIZING EXECUTION OF A
STIPULATION OF FINAL SETTLEMENT FOR 6501 CEDAR AVENUE (PARCEL 17)
(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 (the "Project") heretofore adopted by the Gity of Richfield (the "City") said real
property located at 6501 Cedar Avenue, Richfield, Minnesota, being described as follows
(the "Subject Property"):
Lots 1 & 2, Block 1, 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 Subject
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 $265,000 and $18,520 for
immovable fixtures; and
WHEREAS, on September 11, 2000, the City Council approved just compensation
for the real estate in the amount of $265,000 and on October 23, 2000, a corrected amount
of $18,520 for the immovable fixtures and equipment appurtenant thereto and did make an
offer, and subsequent corrected offer to the property owners in said amounts; and
WHEREAS, the City Council authorized condemnation of the Subject Property on
September 11,2000, such proceedings were commenced on behalf of the City by the city
attorney; and
WHEREAS, on December 22, 2000, the City paid the property owners $309,690 in
accordance with the Stipulation of Partial Settlement; and
WHEREAS, the City has caused appraisals for the Subject Property to be made by
qualified independent professional appraisers to update the fair market value of real estate
and immovable fixtures and equipment appurtenant thereto to the date of taking for
condemnation purposes; and
WHEREAS, the updated appraisal reports indicated a fair market value of real
estate to be $300,000 and $18,520 for immovable fixtures; and
WHEREAS, the City and MAC have since reached a settlement with the property
owners in the amount of $400,000, in settlement of all claims to the property owners for
damages caused to the real estate and appraisal fees, plus $18,520 for immovable
fixtures, excluding relocation benefits, plus interest on the unpaid balance (less amounts
previously paid).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That the proposed settlement amount of $400,000 for the real estate and appraisal
fees, $18,520 for immovable fixtures, plus interest on the unpaid balance 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 8th day of
October, 2001.
Martin J. Kirsch,
ATTEST: