§ 1. Background; findings.

1.01.

Section 8.04 of the Richfield City Charter requires that any capital improvement on City-owned property that has an estimated cost exceeding $500,000.00 or expenditures for design or engineering costs exceeding $75,000.00 must be approved by Ordinance after a public hearing.

1.02.

It is proposed that the City Council approve a capital improvement project for the improvement of property at the southeast corner of the intersection of 66th Street and Trunk Highway No. 77. The City owns a portion of the property and expects to acquire the remainder of the property pursuant to a State of Minnesota Cooperative Agreement for 66th Street Ramp, dated March 29, 2006.

1.03.

The capital improvement project consists of the design, engineering and construction of a public works garage and related improvements, including, but not limited to parking and utilities connections (the "Public Works Garage Project).

1.04.

The estimated construction cost of the capital improvement, excluding design and engineering costs, is in excess of $500,000.00. The preliminary estimates for total construction cost is $10,317,042.00. The estimated cost of design and engineering costs is $760,073.00.

1.05.

A public hearing was held on July 11, 2006, after due notice as required by Section 8.05 of the Richfield City Charter.

1.06.

The Council finds and determines that it is in the best interests of the City and its inhabitants that the Public Works Garage Project be approved.