2000 HRA Resolution 0766
HRA RESOLUTION NO. 766
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED
AT 6856 PARK AVENUE FOR THE RICHFIELD REDISCOVERED PROGRAM
WHEREAS
, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) desires to purchase certain real property pursuant to and in
furtherance of the Richfield Rediscovered Redevelopment project (Project) heretofore
adopted by the City of Richfield (City) and the HRA, said real property being described as:
That part of Lot 4, lying south of north 121.3 feet of Block 3, Portland Avenue Acres
Addition, whose street address is 6856 Park Avenue; and
WHEREAS
, the HRA is authorized by Minnesota Statues Section 469.012 to
acquire real property within its area of operation; and
WHEREAS
, the property has verifiably met program requirements for acquisition,
furthering program goals by removing a substandard structure, and which would likely not
occur without HRA involvement; and
WHEREAS
, the U.S. Department of Housing and Urban Development, seller of
6856 Park Avenue, is selling the property at a discount from its estimated market value,
and a quick response is required by the HRA in order to acquire the substandard property;
and
WHEREAS
, the availability of the property happened quickly due to foreclosure,
and the time required to add it to the existing plan is longer than the period of time
available for purchase; and
WHEREAS
, purchase will be made from the 1996 bond funds, and will be
reimbursed by the 1999 Richfield Rediscovered bond funds at the appropriate time.
NOW, THEREFORE, BE ITRESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1.The purchase price of 6856 Park Avenue is approved at $92,700.
2.The Chairperson and Executive Director are authorized to execute a
Purchase Agreement or other documents to allow purchase for the amount
set forth in this resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of June, 2000.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary