Title
Accepting a right-of-way easement at 1180 Arcade Street and authorizing payment to the property owner.
Body
WHEREAS, the City of Saint Paul (“City”) is seeking to acquire a permanent right-of-way easement on, over, under and across a parcel of land whose address is 1180 Arcade Street, Saint Paul; and
WHEREAS, the easement is required for the Metropolitan Council project to reconstruct the southeast corner of Arcade Street and Maryland Avenue to facilitate a wider turning radius for buses turning from northbound Arcade to eastbound Maryland and;
WHEREAS, an independent appraisal has been conducted to establish the fair market value of said easement; and
WHEREAS, the Real Estate and Assessments Manager has recommended the purchase of said easement at the appraised value, and the value has been accepted by the property owners; and
WHEREAS, the City will be reimbursed by the Metropolitan Council for the easement value and associated City fees for the easement acquisition; and
WHEREAS, the property owners have executed a Deed of Dedication of Easement for this purpose, attached hereto as Exhibit A; now, therefore be it
RESOLVED, that the Mayor and Council of the City of Saint Paul accept said easement and direct and authorize the proper city officials to record same with Ramsey County and pay all applicable recording fees; to pay to the property owners Ten Thousand Three Hundred and 00/100 Dollars ($10,300.00), said sum to be charged to Account Code 73231212-69520; and to accept reimbursement for said amount plus associated City fees from the Metropolitan Council, to be deposited into Account Code 73231212-44590.