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20050727 R-05-47RESOLUTION NO. R-05-47 A RESOLUTION AUTHORIZING A SETTLEMENT AGREEMENT OF CONDEMNATION LITIGATION AGAINST VIRGINIA SEEKFORD SMITH AND SMITH AND FRANCIS, INC., FOR THE ACQUISITION OF APPROXIMATELY 0.37 ACRES OF PROPERTY LOCATED AT 3987 UNIVERSITY DRIVE, IDENTIFIED AS TAX MAP NUMBER 57-4-((2))-108. WHEREAS, the City has determined that there is a public need for a public parking lot, a public street dedication, a temporary construction easement, and a storm drainage easement on approximately 0.37 acres of property, identified as Tax Map No. 57-4-((2))-108, owned Virginia Seekford Smith and Smith and Francis, Inc.; and WHEREAS, by Resolution R-05-40, adopted on June 14, 2005, the City Council authorized the use of "quick take" procedures in order to acquire the property for the foregoing purposes; and WHEREAS, on June 29, 2005, the City filed a Certificate of Deposit among the land records of Fairfax County, Virginia, whereby the City acquired defeasible title to the property; and WHEREAS, the owners have agreed to settle the condemnation litigation in the amount of Two Million Seven Hundred Fifty Thousand and No/100 Dollars ($2,750,000.00), payable no later than August 1, 2005; and WHEREAS, in order to avoid the costs and uncertainties of litigation, the City Council has determined that it is in the best interest of the City to authorize this settlement agreement. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fairfax, that a settlement agreement pertaining to condemnation litigation against Virginia Seekford Smith and Smith and Francis, Inc., for the acquisition of approximately 0.37 acres of property located at 3987 University Drive, in the amount of $2,750,000.00, is hereby approved. BE IT FURTHER RESOLVED that the City Manager is authorized to execute all documents necessary to effectuate the settlement of the condemnation litigation and the acquisition of the property on behalf of the City. ADOPTED this 27th day of July, 2005. Attest: ' [- City Clerk Councilwoman Cross Councilman Greenfield Councilwoman Lyon Councilman Rasmussen Councilman Silverthome Councilmember Winter Vote Aye Aye Aye Aye Aye Aye