Establishing Fair Market Value - Plastic Center, Inc.
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RESOLUTION NO. 284-00
ESTABLISHING FAIR MARKET VALUE FOR THE
ACQUISITION OF CERTAIN REAL PROPERTY OWNED BY
PLASTIC CENTER INC.
WHEREAS, the City of Dubuque (City) intends to acquire certain real
property owed by Plastic Center Inc. (Plastic Center) shown on Exhibit A
attached hereto (the Property);
AND WHEREAS, Iowa Code Chapter 6B, as amended in 2000 by House
File 2528, requires that City must make a good faith effort to negotiate with
Plastic Center to purchase the Property before proceeding with condemnation;
AND WHEREAS, Chapter 6B requires that City may not make an offer to
purchase the Property which is less than the fair market value City has established
for the Property;
AND WHEREAS, City has caused an appraisal of the Property to be made
and the appraised value of the Property is $ 1,191,500.00.
AND WHEREAS, City now desires to establish the fair market value of
the Property,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF DUBUQUE, IOWA AS FOLLOWS:
1. The fair market value of the Property is hereby established to be
$ 1,191,500.00,
2. The City Manager and the Corporation Counsel are hereby directed to
submit a copy of the appraisal to Plastic Center Inc. as required by Iowa Code
Chapter 6B and to commence negotiations with Plastic Center for the purchase of
the Property for a purchase price which is not less than the fair market value
established by this Resolution.
Passed, approved and adopted this 19t1day of
Terrance M. Duggan, Mayor
Attest:
Jeanne F. Schneider, City Clerk
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EXHIBIT A
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100
200 Feet
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Barry A. Lindahl, Esquire
Cor~tion Counsel
700 Lcrust St~t - 196 Cyeare Plaza
o Dubu'ljIe, Io~ 5<l!1J1-6824
W (319)~-4113:) _
>(319)tlIJ5-1040~~)c;
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June 15, 2000
Mayor Terrance M. Duggan
and Members of the City Council
City Hall
Dubuque, Iowa 52001
RE: Resolution Establishing Fair Market Value
For The Acquisition Of Certain Real
Property Owned By Plastic Center, Inc.
Dear Mayor and Councilmembers:
Enclosed is a Resolution for your consideration, establishing
the fair market value of certain real property owned by Plastic
Center, Inc., in the Ice Harbor Urban Renewal District.
Recent changes to Iowa Code Chapter 6B, Eminent Domain,
require that an acquiring agency must make a good faith effort to
negotiate with the owner to purchase private property before filing
an application for condemnation. The acquiring agency may not make
an offer to purchase the property that is less than the fair market
value the acquiring agency has established for the property
pursuant to an appraisal required by Iowa Code Section 6B.45. The
acquiring agency need not make an offer in excess of that amount in
order to satisfy the requirement to negotiate in good faith.
The acquiring agency must then submit to the person or
corporation whose property is to be acquired, by ordinary mail, at
least ten days prior to the date upon which the acquiring agency
contacts the property owner to commence negotiations, a copy of the
appraisal, in its entirety, upon such real property prepared for
the acquiring agency. The appraisal must be the appraisal upon
which the acquiring agency will rely to establish an amount which
the acquiring agency believes to be just compensation for the real
property.
Service
People
Teamwork
Responsibility
Innovation
Integrity
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Mayor Terrance M. Duggan
and Member of the City Council
June 15, 2000
Page Two
The Plastic Center, Inc., property, which the City intends to
acquire, shown on Exhibit "A" attached to the Resolution, has been
appraised at the request of the City by Felderman Appraisals and by
Luksetich Appraisals. The fair market value of the Felderman
Appraisal is $1,191,500. The fair market value established by the
Luksetich appraisal is $1,014,000.
It is my recommendation that the fair market value of the
Plastic Center, Inc., property for purposes of acquisition be
established at $1,191,500.
Cor
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Lindahl
Counsel
BAL/cg
Enclosures
cc - Mr. Michael C. Van Mi11igen
CERTIFICATE OF DEPUTY CITY CLERK
STATE OF IOWA )
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COUNTY OF DUBUQUE )
I, Karen M. Chesterman, do hereby certify that I am the duly appointed, qualified,
and acting Deputy Clerk of the City of Dubuque, Iowa, in the County aforesaid, and as
such Deputy Clerk I have in my possession or have access to the records of the
proceedings of the City Council. I do further state that the hereto attached Resolution
No. 284-00 is a correct copy of the original Resolution No. 284-00 approved and
adopted by the City Council of the City of Dubuque, Iowa, at a session held by said
Council on the 19th day of June, 2000.
In testimony whereof, I hereunto set my hand and official seal of the City of
Dubuque, Iowa.
Dated at Dubuque, Iowa, this 13th day of April, 2001.
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Ka n M. Chesterman, Deputy City Clerk
(Seal)
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