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RESOLUTION No. <br />07-(125 <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br />RESOLUTION ESTABLISHING APPROVED APPRAISAL OF VALUE AMOUNT FOR PURCHASE OF <br />LEASED FEE INTEREST IN REAL PROPERTY LOCATED AT 1255 OLD HIGHWAY 8 NORTHWEST <br />NHEREAS, the City desires to purchase the leased fee interest in real property located at 1255 Old <br />highway 8, N.W., New Brighton, Minnesota for redevelopment purposes; <br />NHEREAS, the City is authorized by Minnesota Statutes to acquire real property within its corporate <br />~aundaries; <br />NHEREAS, the City has caused the leased fee interest in the above property to be appraised by <br />lualified independent professional appraisers to determine the fair market value of the leased fee <br />nterest in said real estate; <br />NHEREAS, the City desires to obtain transfer of title and possession of said leased fee interest prior to <br />he issuance of an award of damages by court appointed commissioners as provided in Minn. Stat. <br />;117.042. <br />VOW, THEREFORE, BE I7 RESOLVED, by the City Council of the City of New Brighton, Minnesota <br />hat the City's approved appraisal amount for the purposes of Minn. Stat. §117.042 for the leased fee <br />nterest of said property as of August 29, 2006 is $6$5,000, as concluded by Clay M. Dodd, MAI, of <br />aatchin, Messner & Dodd in an appraisal report, dated September 26, 2006, which is an file with the <br />by the City Council of the Gity of New Brighton this 10t" day of April, 2007. <br />~~%'. <br />a.n_iel_A. Maiers, <br />irectc~~-o€~'inance acid Sapport <br />~rvices/Ciry ~:lai1c <br />~. <br />I!I:\COUNCIL\RESOLUTIONS\2007\Community Development\1255 Old Hwy 8NW.doc <br />Steve Larson, Mayor <br />