00-8957r
RESOLUTION NO. 8957
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT
6338-18TH AVENUE SOUTH
106
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;
WHEREAS, within the aforenoted area the following real property is identified for
purchase:
Lots 10, Block 6 Iverson's Second 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, upon completion of the application process with the Department of
Trade and Economic Development (DTED) funds in the amount of $5 million will become
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:
Pro e Address
6338-18th Avenue South
Fair Market Value
$138,000
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. That the just compensation amount in the table above is approved.
2. That performance on the offers to purchase and related expenses is subject to receipt
by the City of the funds from DTED.
3. That the City's consultant is authorized to present an offer of said amount to the
property owner.
Adopted by the City Council of the City of Richfield, Minnesota this 13th day of
November, 2000. . . I) t~
/o/~~. ~
Martin J. K s ,Mayor
ATTEST: