2024-95
Newport
Resolution
THE CITY OF NEWPORT
RESOLUTION
OF THE
COUNCIL
No. 2024-95
WHEREAS: in 2021, the State of Rhode Island Department of Transportation ("RIDOT") took certain land interests from the City of Newport for the Newport Pell Bridge realignment project and paid the City the sum of $514,315 based on RIDOT's estimated fair market value; and
WHEREAS: thereafter, the City made demand on RIDOT for additional compensation based on its estimate of the fair market value of the interests taken; and
WHEREAS: in order to recover the difference in fair market values, the City brought suit against RIDOT in the matter of City of Newport v. Rhode Island Department of Transportation, by and through Peter Alviti, its Director (NM2022-0232); and
WHEREAS: after further review by the parties of their respective appraisals, the parties have negotiated a settlement with the State paying additional compensation in the amount of $125,000 for the taking and have agreed to enter into a formal Settlement Agreement for the above litigation to memorialize the agreement reached by the parties.
NOW THEREFORE, BE IT
RESOLVED: the City Council approves the proposed settlement amount of $125,000 paid by the Rhode Island Department of Transportation as full and final settlement of the litigation aforedescribed; and BE IT FURTHER
RESOLVED: that the Mayor is authorized to sign said Settlement Agreement on behalf of the City, upon further review and approval by the City Solicitor.
IN COUNCIL
READ AND PASSED
AUGUST 28, 2024
LAURA C. SWISTAK
CITY CLERK