91-7782R37
RESOLUTION NO. 7782
THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION ESTABLISHING JUST COMPENSATION,
AUTHORIZING PURCHASE OF REAL PROPERTY AND
SUBMITTAL OF LOAN APPLICATION FOR
7644 THIRD 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 6, Block 1, A. G. Bogen Company's Nicollet Addn.
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 it jurisdiction; and
WHEREAS, City funds are presently not available for purchase
of real estate; and
WHEREAS, the Metropolitan Council administers RALF which is
made available to cities for the purchase of "hardship
properties"; and.
WHEREAS, preliminary approval has been given by the City
Council and Metropolitan Council to utilize RALF; and
WHEREAS, continued ownership of the subject property by the
current owner constitutes a hardship as defined by the RALF
program guidelines; 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, the Minnesota Department of Transportation (MNDOT)
has reviewed the appraisal report as to conformity with appraisal
standards.
Resolution No. 7782
Page 2
NOW, THEREFORE, BE IT ~ESOLVED by the City Council of the
City of Richfield, Minnesot as follows:
1. That just compensation +is determined to be $90,000.
2. That the City Manager is authorized and directed to commence
negotiations for the purchase of said real property.
3. That the City Manager and Mayor are authorized to execute
a Purchase Agreement fob 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 relocat~Lon benefits.
5. That the City Manager and Mayor are directed to execute
appropriate documents for submittal of an application to
the Metropolitan Counci~ for RALF to effectuate the
purchase of the subjectproperty.
Adopted by the City C
Minnesota this 12th day of
it of the City of Richfield,
ust, 1991.
R
Martin J. K r c Mayor
ATTEST:
Thomas P. Ferber, City Clerk