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93-115
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93-115
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8/4/2005 12:47:00 PM
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8/4/2005 10:20:15 AM
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<br />~ <br /> <br />~. <br />,,- <br /> <br />RESOLUTION NO. 93-115 <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION ESTABLISHING JUST COMPENSATION FOR THE <br />PROPERTIES AFFECTED BY THE NEW BRIGHTON CARE CENTER <br />EXPANSION. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of <br />New Brighton (the "City") as follows; <br /> <br />WHEREAS, the downtown New Brighton area has been a priority <br />project for the past year. <br /> <br />WHEREAS, the downtown redevelopment goals states the area <br />should be a mixed use development that will create a sense of place, <br />vitality and serve the public purpose. <br /> <br />WHEREAS, the City has agreed to assist in the expansion of the <br />New Brighton Care Center by acquiring and conveying the three <br />properties to the north of the Care Center to North Cities Health Care. <br /> <br />WHEREAS, the redeveloper has posted a letter of credit for <br />$150,000 and all requirements have been met for using the COBG funds. <br /> <br />WHEREAS, Ramsey County requires the determination of Just <br />Compensation to be set by appraisals and review appraisals of the <br />property as the basis. <br /> <br />WHEREAS, appraisals and review appraisals have been conducted <br />to determine fair market value for the properties and fixtures. <br /> <br />NOW THEREFORE, to begin the negotiation process, it is <br />determined that just compensation will be set as follows: <br /> <br />826 5th Avenue NW <br />Appraisal Estimate <br /> <br />Land & Building <br />Fixtures <br /> <br />$77,500 <br />$15,942 <br />
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