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<br />07~O:U97..t WED 15:29 FAX 612 347 7077 <br /> <br />FREDRIKSON & BYRON <br /> <br />'! . <br /> <br />", <br /> <br />~003 <br /> <br />MSOLUTION NO. 97- 047 <br /> <br />STATE OF ~:eSOlA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUI1IORIZING SETILEMENT OF EMIl\"E:to..'T"f DOMAIN PROCEEDINGS TO <br />ACQUIRB CERTAIN lmAL PROPERTY. <br /> <br />'WHEREAS, the City ofNr;w Brighll,lu, Miww1jula ("Cily") il> a wwucipal corporation aud <br />subdivision of the State of Minnesota organized and operating under MiImesota law, as amended, and is <br />authorized by Minnesota Statutes ~ 413.211 and Minnesota Statutes Chap. 469 to acqurre real estate by <br />exercising the power of em:inent domain under and pursuant to Minnesota Statutes, Chap. 117; <br /> <br />WBEREAS, the City Council hA'i: f.StHhli"he:n ::I MoClHien T>evelnpment Proaram pursuant to <br />Minnesota Statutes, ~ 469.001 c1~.; <br /> <br />WHEREAS, the Modified Development Program contemplates the redevelopment of cenain real <br />property located m the <":lty. legally described on the anached Exh1b1t A. (the "Subject Property") for <br />uses consistent with the City's Comprehensive Plan; <br /> <br />WHF.RF.A~, the acquiilition and the subsequent sale or lease of the potential development <br />property to private developers for development are stated objectives of the Development Program; <br /> <br />WHEREAS, on April22, 1997, the City Council adopted Resolution No. 97-027 authorizing the <br />use of the City's powers of eminent domaiI!. to acqu~ fer; :simple Ilb:.uluu, lil1c lu Lilc Suujc\,;l PW}lt:ll,)'i <br /> <br />WHEREAS, on May 21, 1997 legal cOW1Sel for the City commenced an f.mincnt Domain Action <br />apinst The MacGillis & Gibbs Company. the owner of the Subject Property, ("MacGillis & Gibbs") to <br />acquire the Subject Propert)' and filed said Eminent Domain Action with the Court Administrator on <br />]\me 3, 1997; and <br /> <br />WHEREAS, lcgiiU. counsel for the City end MacOi11i~ & Gibbs have now agreed to oertain terms <br />that, if adopted, would settle the eminent domain action. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council and the City of New Brighton, as <br />follows: <br /> <br />I. The City shall enter into an escrow agreement with Old Republic National Title <br />Insurance Company under which Old Republic Ehall be inQ1ructed to handle certain funds and <br />documents, all in connection with the City's acquisition of the Subject Property. <br /> <br />2. The City shall pay MacGillis & GIbbs total of $50,000 in consideration of the settlement <br />of the eminent domain action. Such payment shall be deposited into an escrow account maintained and <br />administered by Old Republic National Title Insurance Company. <br /> <br />~. Tht': MRnnmi~ & ("-rihh~ Company !lhal1, at the City's request. execute and deliver a Deed <br />in Lieu of Forfeiture to the State ofMiMesota, as trustee of tax forfeited land for local taxing <br />jurisdicti0n5. <br /> <br />-1- <br />