93-7968R16
RESOLUTION NO. 7968
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY
77TH STREET PROJECT
7645 Nicollet Avenue
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 Nicollet
Avenue, being described as follows:
Lots 9 and 10, Block 4, "A. G. Bogen Company's Nicollet
Avenue Addition", according to the plat thereof on file or of
record in the office of the Registrar of Titles in and for
Hennepin County, Minnesota.
WHEREAS, on July 13, 1992, the City did set and approve just
compensation for said real property in the amount of $194,371
which was rejected by owner; and
WHEREAS, the owner's appraisal claimed a value of $250,000;
L
and
WHEREAS, the owner's report was reviewed and consideration
was given to the consequences of a setting a price through the
condemnation process.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield, Minnesota as follows:
That the Mayor and City Manager are authorized to execute a
purchase agreement for the amount of $224,000.
Adopted by the City Council of the City of Richfield,
Minnesota this 25th day of January, 1993.
~~ `
Martin J. K'r ch, Mayor
ATTEST:
f ~~~~~~
Thomas P. Ferber, City Clerk