06-14CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2006- 14
RESOLUTION VALUING DONATION OF CERTAIN PROPERTY AND
EASEMENTS FROM D&Y FAMILY LIMITED PARTNERSHIP
WHEREAS, D&Y Family Limited Partnership ("D&Y") owned certain property
abutting Highway 101 within the City of Otsego ("CITY") as set forth on the attached
Exhibit A; and
WHEREAS, the Minnesota Department of Transportation ("MNDOT") has proposed
construction to upgrade those portions of Highway 101 lying within the CITY to freeway
status commencing construction in the Spring of 2006; and
WHEREAS, portions of that property are to be ultimately conveyed to MNDOT for the
purpose of construction of a freeway interchange and frontage roads at the intersection of
Highway 101 and County 37 and County 42; and
WHEREAS, the CITY has agreed to approve the transaction and the appraised value of
the contributions for D&Y's tax purposes and to provide appropriate documentation of
the transfer and valuation; and
WHEREAS, the property has been transferred from D&Y to the CITY; and
WHEREAS, an appraised value of the D&Y property has been determined by the
appraiser and is hereby approved by the City.
NOW, THEREFORE BE IT RESOLVED that the CITY;
The City has previously accepted the donation of those properties as set forth on
Exhibit A.
2. The value of those properties donated to the City is hereby established at
$8,935,000.00, pursuant to the breakdown of parcels as set forth on attached
Exhibit A.
ADOPTED this 27th day of February, 2006 by the Otsego City Council.
INFAVOR: Mayor Fournier; Councilmembers : Heidner, Scharber,
Stockamp and Thorsted
OPPOSED: None
CITY OF
c
Fournier, Mayor
2
EXHIBIT A
D&Y LAND DONATIONS TO CITY OF OTSEGO
Parcel 312- 9.98 acres (NE corner of 101 and 42) Appraised Value- $3,000,000.00
Parcel 310C- 5.76 acres (SW corner of 101 and 42) Appraised Value- $4,235,000.00
Parcel 308A- 8 acres (SW corner of 101 and 37) Appraised Value- $1,700,000.00
TOTAL APPRAISED VALUE -$8,935,000.00