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r._ <br />RI~' SOI.IJTION NO. <br />~7-~~~ <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW $RIGIITON <br />RESOLUTION APPROVING THE PROPOSED STIPULATION OF FINAL SETTLEMENT FOR <br />PURCHASE OF REAL PROPERTY LOCATED AT 1255 OLD HIGHWAY 8 NORTHWEST <br />'HEREAS, the City desires to purchase the real property located at 1255 Old Highway 8, NW, New <br />~ighton, Minnesota (hereinafter "the Subject Property") for redevelopment purposes; and <br />'HEREAS, the City is authorized by Minnesota Statutes to acquire real property within its corporate <br />aundaries; and <br />'HEREAS, the City on May 14, 2007 deposited $1,275,000 with the District Court Administrator for a <br />quick Take Deposit" as required by the Court's Order filed February 7, 2007 in order to transfer <br />vnership; and <br />'HEREAS, the owners have claimed damages in the amount of $1,700,000 as a result of the taking in <br />is matter of Owners' interest in the Subject Property; and <br />-HEREAS, the City and Owners have reached agreement upon the total amount of damages to be <br />yid to Owners in final settlement of all claims of the Owners as a result of the Ciyt's taking herein of the <br />wners' Interests from the Subject Property; <br />OW, THEREFORE, BE IT RESOLVED, by the City Council of the City of New Brighton, Minnesota <br />at the City agrees to settle all claims of the Owners with respect to the acquisition of the Owners' <br />terests in the Subject Property for a total amount of $1,500,000, including the City's Quick Take <br />eposit, which amount includes all amounts remaining due and owing with respect to the Subject <br />roperty in this proceeding, including but not limited to amounts due and owing for just compensation, <br />asts and disbursements, appraisal and attorney fees, and interest. <br />opted by the City Council of the City of New Brighton this 10~h day of July, 2007. <br />Steve Larson, Mayor w <br />a ~- -~ <br />~£`fTrST: <br />~~ <br />%~~... <br />... <br />r <br />atiiel~~:.~f~~erss- <br />iroctor of Finartcp end Support <br />~rvices/City t,ierk. <br />S1~AL) <br />\COUNCIL\RESOLUTIONS\2007\Community Develnpment11255 Old Hwy 8 NW - 5ettlement.doc <br />