1998 HRA Resolution 0662
HRA RESOLUTION NO. 662
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT
300 WEST 78TH STREET IN THE
ILN REDEVELOPMENT PROJECT AREA
WHEREAS
, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) desires to purchase certain real property and furtherance of
the Interstate Lyndale Nicollet redevelopment project (the “Project”) is for adopted by
the City of Richfield (the “City”) and the HRA. Said real property is described as
follows:
Property Address:300 West 78th Street
Legal Description:
That part of the West 305 feet of the East 330 feet of the Southeast
Quarter of the Southwest Quarter of the Southwest Quarter of Section 34,
Township 28, Range 24, which lies northerly of a line described as
beginning at a point in the west line of said East 330 feet distant 162.50
feet south of the northwest corner thereof, thence easterly, parallel with
the north line of said Southeast Quarter of the Southwest Quarter of the
Southwest Quarter, a distance of 151.09 feet; thence southerly at a right
angle 18 feet; thence easterly at a right angle 101.56 feet to a point in the
east line of said West 305 feet distant 222.80 feet south of the north line
of said Southeast Quarter of the Southwest Quarter of the Southwest
Quarter and said line there terminating, excepting the north 30 feet
thereof, according to the United States Government survey thereof,
Hennepin County Minnesota, except:
The South 192.80 feet of the North 22.80 feet of the West 66 feet of the
East 91 feet of the Southeast Quarter of the Southwest Quarter of the
Southwest Quarter of Section 34, Township 28, Range 24, according to
the United States Government survey thereof, Hennepin County,
Minnesota.; and
WHEREAS
, the HRA is authorized by MN Statute, Section 469.012 to acquire
real property within its area of operation; and
WHEREAS
, the proposed purchase is consistent with the project; and
WHEREAS
, the purchase price is $477,345 and available bond proceeds from
the 1996 General Obligation Taxable Tax Increment Bonds will be used to temporarily
fund this expenditure and will be repaid from land sale proceeds immediately upon the
sale of the property.
NOW, THEREFORE, BE ITRESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota;
HRA Resolution No. 662-2-
1.The purchase price is approved at $477,345.
2.The Chairperson and Executive Director are authorized to execute any and
all documents necessary to effectuate the purchase set forth in this
resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 16th day of March, 1998.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary