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<br />,. <br /> <br />t.' <br /> <br />RESOLUTION NO. 88- 48 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION MAKING FINDINGS OF JUST COMPENSATION FOR ACQUISITION OF PROPERTIES <br />IN THE GOLDEN POND PROJECT AREA (T.I.F. #14) AND AUTHORIZING EXECUTION OF <br />PURCHASE AGREEMENTS SUBJECT TO COMPLIANCE WITH SECTION 3.2 AND 3.5 OF THE <br />DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF NEW BRIGHTON AND GOLDEN POND <br />LIMITED PARTNERSHIP. <br /> <br />WHEREAS, the four single family properties to be acquired in the Golden <br />Pond project area are to be purchased with Community Development Block Grant <br />Funds (CDBG) issued to the City of New Brighton through the Ramsey County <br />allocation. <br /> <br />WHEREAS, Federal guidelines for the use of Community Development Block <br />Grant funds require the dispersing agency (the City) to make findings of just <br />compensation for the properties to be acquired before the dispersing agency <br />acquires the properties. <br /> <br />WHEREAS, findings of just compensation are based on appraisals and <br />review appraisals of the properties and findings of just compensation shall <br />not be lower than such appraisals. <br /> <br />WHEREAS, the properties to be acquired through the use of Community <br />Development Block Grant funds and the respective appraisal results are as <br />follows: <br /> <br />ADDRESS <br />APPRAISAL APPRAISAL REVIEW <br />Lange $64,500 $64,500 <br />866 - 3rd Avenue NW <br />Schutta $45,000 $42,000 <br />872 - 3rd Avenue NW <br />Gudmunsen $53,500 $51,500 <br />884 - 3rd Avenue NW <br />Ryback $70,000 $70,000 <br />303 - 10th street NW <br /> <br />NOW THEREFORE BE IT RESOLVED the above appraisal results represent just <br />compensation to the property owners; <br /> <br />NOW THEREFORE BE IT FURTHER RESOLVED the Mayor and City Manager are <br />authorized to execute purchase agreements consistent with the above <br />appraisals and review appraisals and subject to compliance with Sections 3.2 <br />and 3.5 of the Development Agreement by and between the City of New Brighton <br />and Golden Pond Limited Partnership. <br /> <br />Adopted this 10 day of May, 1988. <br /> <br />R~ <br /> <br />ATTEST: <br /> <br /> <br /> <br />Clerk <br /> <br />(SEAL) <br />