96-8374r
49
RESOLUTION NO. 8374
THE CITY OF RICHFIELD, MINNESOTA
ESTABLISHING JUST COMPENSATION FOR PROPERTY
ACQUISITION AT 6758 PORTLAND AVENUE
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property said real property being described as follows:
6758 Portland Avenue
The north 50 feet of the south 80 feet
of the east 168 feet of the northeast quarter of
the southeast quarter of Section 27, Township
28, Range 24
WHEREAS, said acquisition is contingent upon the voluntary sale of this vacant
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 and are available for the
acquisition of the project parcel; and
WHEREAS, the City has caused an appraisal of the subject property to be made
by qualified independent professional real estate appraisers to determine 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 6758 Portland Avenue is $85,000.
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 12th day of
August, 1996.
ATTEST:
'1~ p.C~
Thomas P. Ferber, City Clerk