92-7915R67
RESOLUTION NO. 7915
THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION ESTABLISHING JUST COMPENSATION APPROVING
PURCHASE OF REAL PROPERTY
300 WEST 78TH STREET
WHEREAS, the City of Richfield, Minnesota (City) has
established the 77th Street Project (Project); and,
WHEREAS, in furtherance of that Project, it is necessary to
relocate a portion of the operations of the City garage; and
WHEREAS, the City is authorized by Minnesota Statutes to
acquire real property within its jurisdiction; and,
WHEREAS, the purchase of property at 300 West 78th Street
known as Lampert Lumber which is described in Exhibit A, attached
hereto, would provide an interim location from which to operate
City garage functions displaced by the Project; 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 market value; and,
WHEREAS, funding for the purchase of this property is
available in the City's Capital Projects Fund; and
WHEREAS, a purchase agreement sets forth the conditions of
purchase; and
WHEREAS, Minnesota Statutes require the opinion of the
Planning Commission as to the conformance of the proposed
purchase with the Comprehensive Plan prior to purchase.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield, Minnesota as follows:
1. That just compensation for this property is determined to be
$450,000.
2. The purchase agreement is approved.
3. The funds for the purchase are to be provided by the City's
.Capital Projects Fund.
4. The Mayor and City Manager are authorized to execute
documents related to the purchase should the conditions of
the purchase agreement be met, and following a finding by the
Planning Commission as to the conformance of the proposed
purchase with the Comprehensive Plan.
Resolution No. 7915
Page 2
5. The City Manager is dig
Planning Commission wii
purchase with the Comp
provided at the earlier
Commission.
ted to request the opinion of the
regards to the conformance of the
ensive Plan and that the opinion be
convenience of the Planning
Adopted by the City Council of the City of Richfield, Minnesota
this 14th day of September, 1992.
~~o~vZ~ .
Martin J. K rsch, Mayor
ATTEST:
~i
Thomas E. Ferber, City Clerk