92-7830R85
RESOLUTION NO. 7830
RESOLUTION ESTABLISHING JUST COMPENSATION,
AUTHORIZING PURCHASE OF REAL PROPERTY AND
SUBMITTAL OF LOAN APPLICATION FOR
7644 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 being described as
follows:
Lot 7, Block 1, R. C. Soens Add.
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, 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.
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 $78,000.
2. That the City Manager is authorized and directed to commence
negotiations for the purchase of said real property.
Resolution No. 7830
Page 2
3. That the City Manager
a Purchase Agreement
forth in this resolut
Mayor are authorized to execute
the. amount of just compensation set
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.
5. That the City Manager a~md Mayor are directed to execute
appropriate documents for submittal of an application to
the Metropolitan Council for RALF to effectuate the
purchase of the subject property.
Adopted by the City Council of the City of Richfield,
Minnesota this 13th day of January, 1992.
~I ~~ ~m
Mar in J irsch, Mayor
i
ATTESTS ~~~
Thomas P. Ferber, City Clerk