09-08-1999 Council Agenda - Laserfiche WebLink

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CITY OF LITTLE CANADA RESOLUTION NO. A RESOLUTION ESTABLISHING JUST COMPENSATION, APPROVING APPRAISAL OF VALUE OF REAL PROPERTY, AND AUTHORIZING OFFER TO ACQUIRE PROPERTY AT 2929 COUNTRY DRIVE, LITTLE CANADA, MINNESOTA BE IT RESOLVED by the City Council of the City of Little Canada as follows: WHEREAS, it is necessary for furtherance of the City's general plan of economic development to acquire fee title to the property located at 2929 Country Drive, Little Canada, Minnesota; and WHEREAS, the City has had the parcel located at 2929 Country Drive, Little Canada, Minnesota, appraised at its fair market value by a qualified independent professional real estate appraiser, who has completed written reports 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 City Council 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 correct, and the fair market value is hereby adopted by the City as `just compensation "; and 2. That the fair market value for the subject property, and the interest to be acquired are delineated and identified on the attached Appraisal Summary; and 3. That the staff of the City of Little Canada and its attorneys are hereby authorized to acquire the subject property by direct purchase for the amounts set forth by the City's independent appraiser and review appraiser and established and certified herein as just compensation. Passed by the City Council of the City of Little Canada this day of September, 1999. ATTEST: Joel R. Hanson, City Administrator Michael I. Fahey, Mayor Page 33