1999 HRA Resolution 0717HRA RESOLUTION NO. 717
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY
LOCATED AT 6639 LAKE SHORE DRIVE FOR THE
GRAMERCY TAX INCREMENT FINANCING DISTRICT PROJECT
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 land assembly for the Gramercy Tax Increment Financing District
(Project) heretofore adopted by the City of Richfield (City) and the HRA, said real
property being described as follows:
6639 Lake Shore Drive: Lot 18, Block 3, Fairwood Shores Addition
WHEREAS, the HRA is authorized by Minnesota Statutes Section 469.012 to
acquire real property within its area of operation; and
WHEREAS, the property meets all program requirements for acquisition; and
WHEREAS, the HRA has caused an appraisal of the subject property to be
made by a qualified, independent professional real estate appraiser and has negotiated
a purchase price with the owners based on that appraisal; and
WHEREAS, HRA funds are available for acquisition.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1. The purchase price for 6639 Lake Shore Drive is approved at $145,000.
2. The Chairperson and Executive Director are authorized to execute a
Purchase Agreement and other documents to effectuate purchase for the amount set
forth in this resolution and to convey the residential structure to the seller.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 21st day of June, 1999.
Thomas E. Harms, Chair
ATTEST:
Michael Sandahl, Secretary