78-5940R50
RESOLUTION N0. 5940
RESOLUTION CONFTRP~IING JUST
`~ COP~PENSATION AND APPROVING APPRAISAL
~~1HEREAS, the City of Richfield and The Housing and Redevelop-
ment Authority did by separate resolutions dated March 27, 1978 and
by joint agreement entered into on the same date authorize the
acquisition of the property described in those documents by eminent
domain proceedings; and
WHEREAS, the HRA has caused appraisals of the subject property
to be made and such appraisals have been carefully reviewed by
the City and the HRA and are believed to have been made in a competent
manner and in accordance with applicable law.
NOW, THEREFOR, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF RICHFIELD
1. That the appraisals of value setting value at $325,755 for
the entire subject real property and immovable fixtures is
hereby approved and determined to be just compensation.
2. That the city manager and city attorney are directed to pay
all or part of -that amount into court pursuant to P4innesota
Statutes 1976, 117.042.
3. That the ultimate obligation to pay compensation for the
taking shall be adjusted between the City and the HRA
pursuant to the terms of the above referenced agreement.
Passed by the City Council of the City of Rict.field phis 14th day of August, 1973.
ATTEST:
Thomas J~rfo-ran, City Clerk