07-09-84 agenda- H~UgING AN'D REDEVELOPMENT AUTHORITY
- - Office of 'Executive Director
HRA Letter i~o. 28
Agenda July 9, 1984
Housing and Redevelopment
Authority ~om~ssioners
City of :Richfield
Subject: Request for Special HRA Meeting to Re-Establish
Just Comperraation f.or the Purchase of Property
on the'Godfat-her Bloch for the Market Plaza
Project
Dear Gommis.siot~ers::
- At the recommendation of `John Dean, of the pity Attorney's
office, a special meeting of the HRA has bee~.~alled f'or Monday,
July 9 , 1984 _at 6::45 ,p.m. The purpose of the special meting is
to consider a resolution adjusting the; just eorapen~ation for the
Godfather R.estaurant_property.
Background
On May 1?~, 19:$4,. the :HRA 'set just compensation- for he
.entire Godfather :Restaurant property at $1,02+x,;2$3. Just
Compensation-became ,part of the ba is for proceeding with the
condemnation quick-take process. A e'nec~c in the amount of the
just compensation must also be deposited with the court. In
the petition filed with District :Court; the HRA requested title
anal possession of- this property by July 17`, 19$4,
The issue
It now appears unlikely that the HI~A.wll have title and
possession of the res aurant parce by Jtaly 17. An alternative
is to hake title and possession of a_porton of the parking area
and.. thebalance of the property ata later date. Market Pl.a~a
officials advise that they ca.n begin t:he commerciallapartment
c~mpoments of thedevelopment project..(i.e., grating`the surface
parking areas) if a portion of the restaurant property is
acquired by the city, Also, it should be easier to arrive at a
just compensation figure for acquiring a parking lit than it is
fc~; a-property with a 're taurant.
Mr. John Jansxi, who frequently appraises property for the _
HRA; has been requested to seta value on the ,port-ion of the
parking lot area needed. The City`Attorney-will provide a
-resolution inclua`ing the 'adjusted ;dust compensation figure at -
ti e meeting on ~Ionda.y _eve:n,i~g