92-7893R9
RESOLUTION NO. 7893
RESOLUTION ESTABLISHING JUST COMPENSATION,
AUTHORIZING PURCHASE OF REAL PROPERTY
7645 11TH 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 being described as
follows:
Lot 9, Block 1, South Murray Lane, 2nd Addition
WHEREAS, the City has adopted an official map for
improvements to 77th Street; and
WHEREAS, the improvements to 77th Street necessitate the
purchase of real estate; 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, MnDOT and FHWA procedures provide for purchase of
property when the owner. is experiencing a hardship; and
45
WHEREAS, recognition by MnDOT and FHWA of these properties
as "hardship" has been requested and such recognition is ~.
imminent; and
WHEREAS, the City has caused an appraisal of the subject
property to be made by a qualified independent professional real
estate appraiser 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.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield, Minnesota as follows:
1. That just compensation is determined to be as follows:
$110,000.
2. That the City Manager is authorized and directed to
commence negotiations for the purchase of said real
property following MnDOT and FHWA approval.
3. That the City Manager and Mayor are authorized to
execute a Purchase Agreement for the amount of just
compensation set forth in this resolution.
4. That the City Manager is hereby directed to notify, in
writing, the owner of subject property as soon as
possible that the City intends to acquire his/her
property and establish eligibility for relocation
benefits.
Resolution No. 7893
Adopted by the City G
Minnesota this 27th day of
ATTEST:
-2-
.il of the City of Ri h field,
y, 1992. t /~
s~~ ~ _ f
Martin J . ~ti~sch, Mayor
Thomas P. Ferber, City