97-8500r
75
RESOLUTION NO. 8500
THE CITY OF RICHFIELD, MINNESOTA
ESTABLISHING JUST COMPENSATION FOR PROPERTY
ACQUISITION AT 6734 PORTLAND AVENUE
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property said real property being described as follows:
6734 Portland Avenue
The North 60 feet of the South 190 feet of the
East 168 feet of the Northeast 1/4 of the
Southeast 1/4 of Section 27 , Township 028
Range 24, except road, Hennepin County,
Minnesota
WHEREAS, said acquisition is contingent upon the voluntary sale of this
property; and
WHEREAS, the City is authorized by Minnesota Statutes to acquire real property
within its jurisdiction; and
WHEREAS, the funds have been provided by the City are available for the
acquisition of the project parcel; and
WHEREAS, the City has caused an appraisal of the subject property made by a
qualified independent professional real estate appraiser to determine the fair market
value.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. That the approved purchase price for 6734 Portland Avenue is $95,000.
2. That the City Manager and Mayor are authorized to execute a purchase
agreement and other appropriate agreements to effectuate the purchase for the
amount set forth in this resolution.
Adopted by the City Council of the City of Richfield, Minnesota this 25th day of
August 1997.
~~~J~
Martin J. Kirsc, ayor
ATTEST:
~~F~
Thomas P. Ferber, City Clerk