HomeMy WebLinkAboutFINAL ORDINANCE NO. 97-045CITY OF LAKE ELMO
ORDINANCE NO. 9-7 y 5-
AN ORDINANCE RELATING TO MANUFACTURED HOME PARKS
THE LAKE ELMO CITY COUNCIL HEREBY ORDAINS THAT SECTION 550.08, SUBD. 2 OF
THE LAKE ELMO CITY CODE IS HEREBY AMENDED TO READ AS FOLLOWS:
Subd. 2. Title Transfer. The eligible park resident may elect to
receive compensation in an amount equal to the estimated fair
market value of the manufactured home as determined by an
independent appraiser experienced in manufactured home
appraisals. The appraisal shall be made no earlier than 60 days
prior to the closing of the park or its conversion to another use in
order to ensure that the current fair market value of the eligible
park resident's manufactured home is appraised. The park
purchaser and the eligible park resident shall each pay one half of
the cost of the appraisal. The park purchaser shall pay such
compensation to the eligible park resident upon transfer of clear
title to the manufactured home.
Effective Date. This Ordinance shall be effective the day following its publication or on
the day following the publication of an Ordinance Summary approved by the Lake Elmo City
Council.
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Adoption Date. Passed by the Lake Elmo City Council on the I �o day of June, 1999.
ATTEST: Lee Hunt, Mayor
Ma (u er
City Admb4strator
Publication Date. Published on the :2a�day of—�SUNQ- , 1999.
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June 2, 1999