00-8919r
68
RESOLUTION NO. 8919
RESOLUTION AUTHORIZING EXECUTION OF A STIPULATION OF FINAL
SETTLEMENT FOR 6521 CEDAR AVENUE
(66TH STREET I TH 77 INTERCHANGE PROJECT)
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property pursuant to and in furtherance of the 66th StreetfT.H. 77 Interchange Project
(Project) heretofore adopted by the City of Richfield (City) said real property being
described as follows:
Lot 6 and the South 30 feet of Lot 5, Block 1, New Ford Town Addition,
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 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 $535,000, and that the just
compensation for the immovable fixtures and equipment appurtenant thereto be
determined by the City Council to be $24,750; and
WHEREAS, on May 30, 2000, the City approved just compensation for the real
estate in the amount of $535,000, and for immovable fixtures and equipment
appurtenant thereto in the amount of $24,750 and did make an offer to the property
owner in said amounts; and
WHEREAS, on May 30, 2000, the City authorized condemnation of the subject
property, such proceedings were commenced on behalf of the City by the City Attorney,
and subsequently on July 20, 2000, the City entered into a Stipulation of Partial
Settlement with the property owner under which the City paid its just compensation
amount of $559,750 to the property owner in return for conveyance of title of the
property to the City; and
WHEREAS, the City Attorney has reached a final settlement with the property
owner in the amount of $595,000 and MAC has concurred with the terms of final
settlement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows: '
1. That the proposed settlement amount of $595,000 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 14th day of
August, 2000.
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ATTEST:
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Thomas P. Ferber, City Clerk