93-8076r33
RESOLUTION N0. 8076
THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY
7645 LYNDALE AVENUE SOUTH
77TH STREET PROJECT
WHEREAS, the City of Richfield, Minnesota desires to
purchase certain real property pursuant to and in furtherance
of the 77th Street Project (Project) heretofore adopted by
the City of Richfield (City) said real property located at
7645 Lyndale Avenue, being described as follows:
Lots 9 and 10, Block 7, Sunset Terrace, according to the
plat thereof on file or of record in the Office of the
Registrar of Titles in and for Hennepin County, Minnesota.;
and
WHEREAS,. on November 9, 1992, the City Council did set
and approve just compensation for said real property in the
amount of $183,740; and
WHEREAS, the owner of said real property rejected said
offer based on the approved just compensation; and
WHEREAS, on December 14, 1992 the City Council
authorized condemnation proceedings against said real
property so that the District Court could provide remedy to
the City for title and possession to the real property; and
WHEREAS, negotiations have continued between the
property owner and the City, including additional appraisals
to further determine fair market value of said real property;
and
WHEREAS, it is proposed that the 77th Street Project pay
$240,000 for said real property and fixtures and that the
property owner indemnify the City for environmental cleanup
of said real property according to state pollution standards.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Richfield, Minnesota as follows:
1. That purchase at $240,000, in addition to indemnification
for environmental cleanup is authorized.
2. That the Mayor and City Manager are authorized to execute
a stipulation agreement terminating the condemnation
process.
3. That the .Mayor and City Manager are authorized to execute
any other documents which will effectuate the purchase of
this property.
Resolution No. 8076
Page 2
Adopted by the City Council of the City of Richfield,
Minnesota this 13th day of December, 1993.
_.__
Martin J. Bi c Mayor
ATTEST.
Thomas P. Ferber, City Clerk