78-5914R,,
RESOLUTION N0. 5914
;~ RESOLUTION RE-ESTABLISHING JUST
r
~~ _ COMPENSATION AND PROVIDING
FOR THE COA"u~ENCEMENT OF
NEGOTIATIONS FOR THE PURCHASE
- OF REAL PROPERTY AND IMMOVABLE
FIXTURES - NELSON'S RESTAURANT
25
WHEREAS, the City of Richfield, Minnesota (City) desires to pur-
chase certain real property and immovable fixtures as identified by
the fixture appraiser, pursuant to and in furtherance of the Lyndale/
Hub/Nicollet Redevelopment Project heretofore adopted by the City and
the Housing and Redevelopment Authority, said real property being des-
cribed as follows: All of Tract A, Registered Land Survey No. 692,
files of the Registrar of Title, Hennepin County, Minnesota, and the
south 30 feet of Lot 5, Block 8, Rearrangement of Nicollet Homes 2nd
Addition, Hennepin County, Minnesota; and
WHEREAS, the City has caused an updated appraisal of the subject
.property to be_made, has carefully considered such appraisal, and
believes the work of such appraiser was performed in a competent man-
. ner and in accordance with applicable law;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
RICHFIELD, MINNESOTA:
1. That •$293,000 is determined to be just compensation for the
subject real property and immovable fixtures.
2. That the City Manager and the City Attorney are authorized
and directed to commence negotiations for the purchase of the real
property and immovable fixtures described above.
3. That the City Manager is hereby directed to notify, in writi•~7g
the owner of the subject property, as soon as possible, that the City
presently intends to acquire his property provided neogitations result
in ,the determination of a mutually agreeable sales price. The City Man-
ager shall include with such notification a statement which complies
with the requirements of regulations of the Department of Housing and
Urban Development, 24 C.F.R. ®42.135.
4. That upon the completion of the negotiations, the City r7anager
shall report back to the City with a proposal for the purchase of said
real property. and immovable fixtures which is acceptable to the owner(s),
and shall report his recommendation to said proposal.
Passed by the City Council of the City of Richfield, Minnesota this 30th
day o f May 19 7 8 .
r L. Law, .Mayor
ATTEST:
~~/~'-o~- -`~~i'~~-rLe.~~
Thomas J. an City Clerk