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File #: RES 16-1050    Version: 1
Type: Resolution Status: Passed
In control: City Council
Final action: 7/6/2016
Title: Approving land acquisition at 637 Payne Avenue.
Sponsors: Amy Brendmoen
Attachments: 1. Exhibit A - Yarusso Executed Purchase Agreement, 2. PAYNE BEDFORD- Yarusso Acquisition


Approving land acquisition at 637 Payne Avenue.



WHEREAS, the City of Saint Paul (“City”) seeks to acquire property located at 637 Payne Avenue in Saint Paul for the public purpose of reconfiguring the intersection at Payne Avenue, Bedford and Tedesco Streets; and


WHEREAS, the Saint Paul City Council approved acquiring the necessary property rights for completion of said improvements at a public hearing on February 24, 2016 (RES PH 16-22); and


WHEREAS, the City, acting through its Department of Finance, Real Estate Section, has secured a signed Purchase Agreement to acquire said property, attached hereto as Exhibit A; and


WHEREAS, the City has agreed to pay Eight Thousand One Hundred and Sixty Dollars and 00/100 Cents ($8,160.00), to purchase said property, this being a fair and reasonable value as determined by an independent appraisal, negotiated and agreed to between the property owner and the City, and recommended by the City’s Real Estate Manager; now, therefore be it


RESOLVED, that the Council of the City of Saint Paul approves the Purchase Agreement for the property at 637 Payne Aveneue, and directs and authorizes the proper city officials to pay $8160.00 to Yarusso Bros. Holdings LLC, and all associated closing costs, said amounts to be charged to Activity Code:1-40031900-76805-C142T88225089-76005; and to record the deed for said property with the Ramsey County Recorder’s Office.


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