1998 HRA Resolution 0684
HRA RESOLUTION NO. 684
RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY LOCATED AT 7520
PORTLAND AVENUE
WHEREAS
, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) owns certain real property located at 7520 Portland
Avenue, legally described as follows; and
The East 165.8 feet of South 75 feet of North 342.8 feet of East 1/2 of Southeast
1/4 of Northeast 1/4 of Southeast 1/4 except road of Section 34 Township 028
Range 24.
WHEREAS
, the HRA acquired the property so that Hennepin Technical College
(HTC) could construct a new single family home at 7520 Portland Avenue, to be sold by
the HRA to a moderate income family; and
WHEREAS
, the Nguyen family has been identified as qualified purchasers for
7520 Portland Avenue; and
WHEREAS
, the conditions of the sale include a total sale price of $130,000; a
lien of $20,000 payable to the HRA; $2,000 earnest money; and the balance from a first
mortgage payable to the lender; and
WHEREAS
, the sale of 7520 Portland Avenue may be authorized by the HRA
following a public hearing which considers the disposition of the property; and
WHEREAS
, that hearing has been held following proper publication of notice.
NOW, THEREFORE, BE ITRESOLVED
by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota that the HRA Chairperson and
Executive Director are authorized to execute the purchase agreement and other
required documents so that the disposition of HRA owned property at 7520 Portland
Avenue may occur as presented herein.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of October, 1998.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary