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CASE # <br />CONFIRM SETTLEMENT TERMS FOR ACQUISTION OF THE EUGENE BROWN <br />PROPERTY LOCATED AT 14220 BASALT STREET <br />• <br />By: William K. Goodrich, City Attorney <br />Background: <br />As you are aware, Council authorized an eminent domain action to acquire the properly located at <br />14220 Basalt Street in 2006 for economic development purposes. On June 5, 2007, Council met in <br />closed session to further discuss this acquisition. The consensus of the Council at that time was to <br />accept a negotiated purchase price of $315,000 pending no environmental issues which amount' <br />DOES include relocation expenses. NTI, Inc. has now reviewed the site and determined there are <br />no "recognized environmental" conditions on the site. Attached is the relevant language from NTI, <br />Inc's Environmental report and a proposed Stipulation of Final Settlement for Council <br />consideration. <br />Funding Source: <br />TIF District #1 <br />Enclosures: <br />Map showing site location <br />NTI, Inc. Environmental Site Review <br />Stipulation of Final Settlement <br />Recommendation: <br />Authorize the attached Stipulation of Final Settlement <br />Council Action: <br />Motion to authorize the City's legal Counsel to enter into a Stipulation of Final Settlement on behalf <br />of the City regarding the acquisition of the Eugene Brown property located at 14220 Basalt St, <br />which settlement shall be in substantially the form of the document attached to the City Council <br />case and reviewed by the Council on July 10, 2007. <br />Reviewed By: <br />City Attorney <br />Interim City Administrator <br />• CC: 07/10/07 <br />—71— <br />