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RESOLUTION NO. 4929 <br /> 1111 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION CONSIDERING PURCHASE OF MIDLAND VIDEEN INC. PROPERTIES <br /> WHEREAS, the City Council of the City of Mounds View <br /> is considering purchasing three (3 ) parcels of land owned by <br /> Midland Videen Inc . ;and <br /> WHEREAS, the purpose for the purchase of these <br /> parcels will be to construct a surface water detention pond on the <br /> large parcel which has been identified in the Local Water <br /> Management Plan 1992 and the "Edgewood District Drainage Plan" <br /> ( 1988 ) , in conjunction with the reconstruction of Bronson Drive; <br /> and <br /> WHEREAS, the City has contracted an independent <br /> appraiser to appraise the property; and <br /> WHEREAS, the appraised value of the three (3 ) <br /> parcels combined is $330, 000 . 00 ; and <br /> WHEREAS, the appraised value of the large parcel <br /> • (Pin No . 08-30-23-24-0053 ) is $291, 750 . 00 ; and <br /> WHEREAS, funds for the purchase of the large parcel <br /> will be from the City' s Minnesota State Aid (MSA) construction <br /> fund; and <br /> WHEREAS, funds for the purchase of the two (2) <br /> remaining parcels (Pin No . 08-30-23-24-0054 and 08-30-23-24-0055) <br /> will utilize $38 , 250 . 00 of TIF funds . <br /> WHEREAS, the City Council does hereby authorize the <br /> City Attorney to draft a purchase agreement for the purchase of the . <br /> properties . <br /> NOW THEREFORE, BE IT RESOLVED, that the City Council <br /> authorizes the purchase of the properties owned by Midland Videen <br /> Inc . for the price of $330, 000 .00 to be funded from the <br /> aforementioned funding sources . <br /> 4111 <br />