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CASE <br /> <br />CONSIDER ADOPTION OF RESOLUTION <br />TO ACQUIRE THE PROPERTY <br /> LOCATED AT <br /> 14040 AZURITE STREET NW <br /> <br /> By: William I~L Goodrich, City Attorney <br />Scan M. Sullivan, Economic Development/TIF Specialist <br /> <br />Background: <br /> <br />The Economi~ Development Authority (EDA) held a meeting on February 9, 2004 and discussed <br />the acquisitiOr~ of the property owned by Douglas Hanson (the "Bakestar Property") located at <br />14040 Azurite~Street NW. It has been the position of the EDA to acquire properties in need of <br />redevelopmen[whon they become available or there is a need to facilitate redevelopment. The EDA <br />has determine4 that this property is in need of redevelopment as it is in a blighted condition. The <br />EDA made a ~commendation that the City acquire the property by direct negotiation and to use <br />condemnation to acquire it as a last resort. Recently, a "For Sale by Owner" sign appeared on the <br />Bakestar Propqrty and this prompted action by the EDA. The property is in Tax Increment <br />Financing Dist!'. itt No. 2 which is a redevelopment district. Money has been previously budgeted <br />for the acqui~tit~on of properties in need of redevelopment within TIF District No. 2. Acquiring this <br />property would~ enable the City to redevelop a property that would not likely redevelop otherwise. <br /> <br />The City will, bf course, need to pay a fair market value for the Bakestar Property and in order to <br />establish that v~tlue ;an appraisal will be necessary. The appraised value will then be offered to the <br />landowner. [~[~the event the Bakestar Property cannot be acquired by direct negotiation, the City <br />will need to co~isider acquiring it through the eminent domain process. The appropriate acquisition <br />resolution will be presented to the Council for review at the Council meeting. <br /> <br />Enclosures: <br /> <br />Map of redevetbpment area located in Tax Increment Financing District No. 2. <br /> <br />Recommendation: <br /> <br />Staff recommends adoption of a resolution authorizing acquisition of the property located at 14040 <br />Azurite Street:NW. <br /> <br />Council Action: <br /> <br />Motion to adop~ the enclosed resolution which provides for Council £mdings for the public purpose <br />of the acquisition, directs staff to negotiate with the landowner to acquire the property and <br />authorizes an erhinent domain action in the event direct negotiation is unsuccessful. <br /> <br />Review Checklist: <br /> <br />City Administrator <br /> <br /> <br />