07-051 (2) - Laserfiche WebLink

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I° s; 41 ~i *HEREAS, the City Council finds that it is reasonable, necessary, proper, convenient, for a public >~rpose, and in the interest of the public health, safety, convenience, and general welfare of the citi qns of the City that title to and possession of the Subject Property be acquired by the City for cede 'elopment in furtherance of the Project; and i HEREAS, the City Council finds that the funding and construction schedule for the Project ake it necessary to acquire title to and possession of the Subject Property prior to the tiling of the f al report of the condemnation commissioners to be appointed by the district court; and 11 IEREAS, the City has an imn-lediate need to obtain control of the Subject Property in order t construct street improvements thereon as part of the City's Old Highway 8 public improvnent project; I EREAS, the City is the owner of the Subject Property subject to a lease in favor of Eller Media ompany, now known as Clear Channel Outdoor, Inc., which lease expires in 2011; WHEREAS, the City obtained an appraisal of the value of the leasehold interest in the Subjec Property by an independent MAI designated real estate appraiser who concluded that the value the leasehold interest was $1,000; 9 EREAS, the City may obtain title and possession of the leasehold interest pursuant to the quick take procedure by paying or depositing the City's approved appraisal of value for the leaseh01 d interest; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of New Bright i, Minnesota that: {1. The City Council hereby finds that it is necessary that the Subject Property be ' acquired in fee simple absolute for the stated public purposes througli the exercise of the power of eminent domain. .a 2. The City Attorney is hereby authorized and directed to take all steps necessary to Ik acquire all ownership interests in the Subject Property which are not already owned g by the City, including, if necessary, by use of the quick take procedure, pursuant to ' Minn. Stat. § 117.042, prior to issuance of an award of damages by Court-Appointed b e Commissioners. 4 13. The City's approved appraisal of value for the leasehold interest in the Subject Property pursuant to Minn. Stat. § 117.042 is hereby determined to be $1,000. B Y SI 81 S (y~ 311.2824 PItJL NE136-209 2 g