93-7985R33
RESOLUTION N0. 7985
RESOLUTION ESTABLISHING JUST COMPENSATION;
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 being described as follows:
Richfield City Garage, 7700 Pillsbury Avenue South
PID No. 34-028-24-34-0052
WHEREAS, the City has adopted an official map for improvements to
77th Street; and
WHEREAS, the City is authorized by Minnesota Statutes to acquire
real property within its jurisdiction; and
WHEREAS, Minnesota Department of Transportation (MnDOT) and
Federal Highway Administration (FHWA) are funding this project; and
WHEREAS, the City has caused appraisals of the subject property
to be made by qualified independent professional real estate
appraisers to determine fair market value; and
WHEREAS, a qualified review appraiser has certified the appraisal
report as to conformity with appraisal standards and has certified
same; and
WHEREAS, the review appraiser has indicated that adjustments to
the previously established just compensation are necessary.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. The amount of just compensation for immovable fixtures
is increased by 518,000.
2. The amount of the engineering consultant time is
increased by 511,000.
3. Total just compensation including a temporary
easement is adjusted from $693,353 to $722,353.
4. The City Manager and Mayor are authorized to
implement this resolution in accordance with authorized
procedures.
Adopted by the City Council of the City of Richfiel Minnesota
this 8th day of March, 1993.
Martin J. irsch, Mayor
ATTEST:
~~I.fYY-1 tpn T ~ 1
Thomas P. Ferber, City Clerk