03-27-2002 Council Agenda - Laserfiche WebLink

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ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LITTLE CANADA RESOLUTION NO. A RESOLUTION TO ESTABLISHING JUST COMPENSATION, APPROVING APPRAISAL OF VALUE OF REAL PROPERTY, AND AUTHORIZING OFFER TO ACQUIRE RUTZICK PROPERTY BE IT RESOLVED by the Board of Commissioners (the "Board ") of the Economic Development Authority of the City of Little Canada (the "EDA ") as follows: WHEREAS, it is necessary for furtherance of the EDA's general plan of economic development to acquire fee title to the Rutzick Property, which is a vacant tract of land located on the south side of Little Canada Road, east of Rice Street, within the City of Little Canada, containing 4.92 acres more or less, which property is legally described as follows: The south 1.65' of the North 1.102.83' of the East 208.72' of the West 417.44' of the Northwest '9 of the SW , of Section 6, Township 29, Range 22, and all of Lot 4, Block 1, Sherman Oaks Addition according to the plat on file and of record in the Office of the Registrar of Deeds in and for Ramsey County. WHEREAS, the EDA has had the above - described parcel, which is to be acquired, appraised at its fair market value by a qualified independent professional real estate appraiser, who has completed written documents documenting said value; and WHEREAS, the work of the independent appraiser and the review appraiser with respect to said property has been performed in a competent manner in accordance with applicable state law. NOW THEREFORE BE IT FURTHER RESOLVED by the Board of Commissioners of the Economic Development Authority of the City of Little Canada as follows: 1. That the recommendations of fair market value set forth in writing by the independent appraiser and review appraiser are hereby certified to be accurate and