Resolutions-2019-111

RESMAJITIONNO. 2019 111 On this 1" day of' Oetober, 2019, at the reglular mecting ofthe Tiffin City Coullcil, Tiffin, lowa, Councilperson Ryan introduced RESOLUTION NO. 2019 111, A RESOLUTION ES"YABILASHINGJ USTCOMPENSAT10N FOR ACQUISITIONOFA PORTION OR AN Id ' t' EREST M CERTAIN RE.Al, PROPERTY OWNED BYTHE CA" FYOF ORALVILLE WITH REVER' I"'ER RIGHTSTO THEJOHN POWE3, 11, RARICK AND ROBERFRARICK. AS " I' MJSTEES 01;'' I" IIE ' I' RtjS' I' (' REA.'I' ED INTHE I.... ASTWILL ANI) ' t' ES' I' A NIENOF' Rti' l,'tI E. RARICK, DECTASED, FORTHE F0R1,,VERGRE`,EN ONS' I' IZIj(,,,"I' IOINROAI) I-IRO, IE(" I' , iii( im.zide , iiiiotioiii7ot- aper-oN/ al. Themotionwas SeC011( 1Cd by (..'.0U11Ci1per'son Schncdler, F: S' I' ABI, ISIIIN(, T' , Jt.)S"]' (.' OMPE N' SA' I' ION FOR ACQUISIT1, 0N OF A PORTION OR AN INTERE.ST IN (" TRTAIN REAL PROPERTYMN' NED BYTIJE CITY OF CORALVILLE NVITH REVERTTR RIGHTS RARICIR AND ROBEIRTRARICK ASTRC) STF, FS 01, C C1 IN1111E LASTVNI"I'LL E. RARICK", I) ECEASED, FORTH E' FORENTIRCRETA CONSTRUCTION ROA 1) PROJECT Iff,,RH' AS, the (' 14Y of" Til t I,11" krva, tor 1 Road C."onstruction Pro,j,, " t illfe,MIS to 1CLjLfi1' C, kI, J) Ordon and/ oran interest in certain real propc. rty o-m:ied by the (," Ity of C',oralvillewith i-e%ei' t.ci, i,ightstotlieJo iri Powell Rarick and, Robert created ir thc Last Will and , 1' estarn ell t of, Rttth L. Rarick, Deceased, bwhich is legally( lescriht' d arm 1, 611ows, The east hal f" ofthc northwest quarter of Section 22, Township 80 North, Range 7 West of the 5th PA/L subject to easetimits, restrictions and covcnants of record, AND W1 I FRE"AS, the City of- l' iffin, Iowa for the Forevu-green Road C( MIShIlCtiOrl Project intends to acquirc the portion of the above- described real estate as identified in the attachcd L' xhibit A. ANDWHERE' AS, ,' hapter 613, C.",ode oflowa, reqUires that the C'ity of"Tiffin, lova, must make a good faith effort, to negotiate Nvith the City of' CoralviHe with. reverter righty John Powell Rarick and Robert Rarick asTrustees of theTrust created in the L,ast Will andTestament of Ruth U". Rarick, Deceased, to purchase as portion and/ or an intercst in the Property before procceding with condeinnationl- AND WHERF'AS, the City of" Tiffin, Ima may not inake an offer tan pUrchase as portion and/ or an interest in the Property which is less than the fair market value the Clity, of- l' iffin, Iowa has established flor thc Property,, A N D W I I ER. AS, theit ofTiffill, 10W l haS CaLlScd ail apprakal ofa porfion and/ or an interest in the Proputy, to be made to dctermine, the difference in the fitir rnarket valuc of the I