00-8920r
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RESOLUTION NO. 8920
RESOLUTION APPROVING A STIPULATION OF FINAL SETTLEMENT
FOR 1710 EAST 78TH STREET
(77TH STREET, PHASE III, UNDERPASS PROJECT)
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property pursuant to and in furtherance of the 77th Street, Phase II, Underpass Project
(Project) heretofore adopted by the City of Richfield (City) said real property being
described as follows:
That part ofthe N. 180.26 feet of the S. % of the S.E. ~ of the S.E. ~, Line E. of the W.
722 feet thereof, except road and highway. In Section 25, Township 028, Range 24, in
Hennepin County, Minnesota.
WHEREAS, the City has adopted an official map for improvements to 77th
Street; and
WHEREAS, the improvements to 77th Street necessitate the purchase of real
property; and
WHEREAS, the City is authorized by Minnesota Statutes to acquire real property
within its jurisdiction; and
WHEREAS, Minnesota Department of Transportation (MnDOT) and Federal
Highway Administration (FHWA) are fund~ng this project; and
WHEREAS, continued ownership of this property is an economic hardship for the
current owner; and
WHEREAS, the City has caused appraisals for the subject property to be made
by qualified independent professional real estate appraisers to determine fair market
value; and
WHEREAS, a qualified review appraiser has certified the appraisal report as to
conformity with appraisal standards and has certified same.
WHEREAS, on November 22, 1999, the City established just compensation for
the subject property; and
WHEREAS, on April 24, 2000, the City authorized acquisition of the subject
property by eminent domain proceedings and such proceedings were commenced in
May, 2000; and
WHEREAS on June 27, 2000, the City and Owners agreed upon an early
transfer of title and possession of the property upon payment by the City of its approved
appraisal amount of $617,000 to the Owners (including payments to the contract for
deed vendor and Hennepin County for property taxes for this year).
WHEREAS, on July 3, 2000, the City took possession of the property; and
WHEREAS, the property owners of the subject property have proposed a final
settlement with the City under which the owners would waive all further claims for
damages which they may have relating to the City's taking of the subject property in
return for the City's payment in the amount of $765,000 including interest (but not
including relocation benefits), less amounts previously paid, subject to Council approval,
provided payment is made on or before August 19, 2000.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. That the proposed settlement amount of $765,000 is hereby approved.
2. That the City's legal counsel is authorized to prepare a Stipulation of Final
Settlement and present it to the property owners for execution.
3. That the City Manager and Mayor are authorized to execute the Stipulation of Final
Settlement and undertake all other actions necessary to fulfill the City's obligations
pursuant to the Stipulation of Final Settlement.
Adopted by the City Council of the City of Richfield Minnesota this 14th day of
August, 2000. ??;z. W
Martin J. Ki~ Mayor
ATTEST: . /) Q. .
~r.
Thomas P. Ferber, City Clerk '-'