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EDA RESOLUTION NO. 05-EDA-205 . MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA AUTHORIZATION TO CONDUCT A RESIDENTIAL APPRAISAL ON THE PROPERTY LOCATED AT 2617 SHERWOOD ROAD WHEREAS, the property located at 2617 Sherwood Road is currently vacant and unsuitable for habitation; and, WHEREAS, on October 11, 2004, the Mounds View City Council identified the property as hazardous and approved an order to abate all violations; and, WHEREAS, efforts to eliminate the violations and hazardous conditions are ongoing yet have thus far been unsuccessful; and, WHEREAS, the property owner has indicated a willingness to sell the property to the City as a means to resolve the issues associated with the property; and, WHEREAS, staff has confirmed thatthe property at 2617 Sherwood Road is on the City's list of parcels identified for potential acquisition; and, . WHEREAS, to determine the fair market value for the property, it would be appropriate to conduct a residential appraisal of the parcel and improvements; and, WHEREAS, the City maintains a list of area appraisal firms who are able to perform such an appraisal and have solicited estimates from said firms ranging from $325 to $400. NOW, THEREFORE BE IT RESOLVED THAT, the Mounds View Economic Development Authority (the "Authority") hereby authorizes staff arrange for an appraisal of the property located at 2617 Sherwood Road at a cost not to exceed $400. NOW THEREFORE BE IT FINALLY RESOLVED THAT, the Authority directs staff to negotiate a purchase price with the owner for the property relative to the appraised value and to bring back for the Authority's consideration the resulting purchase agreement, if such an agreement is reached. Adopted this 25th day of July, 2005 by the Mounds View Eco " mic Development Authority / .4. T-:-EST: . ~.~ L~ Kurt Ulrich. Executive Director (SEAL.)