06-986r
HRA RESOLUTION NO. 986
RESOLUTION APPROVING STIPULATION OF PARTIAL SETTLEMENT WITH
GLYNN HAAG, OWNER OF 6500 CEDAR AVENUE
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the "Authority") is undertaking a redevelopment project called Cedar
Point, hereinafter called the "Project"; and
WHEREAS, the Project is included within The Richfield Redevelopment Project
Area, duly established by Resolution No. 8030, adopted on June 14, 1993 (the "Project
Area"); and
WHEREAS, The Authority and Ryan Companies US, Inc ("Ryan") entered into that
certain Contract for Private Development dated July 27, 2005, as amended by the First
Amendment to Contract for Private Development dated June 26, 2006 (the "Development
Agreement"); and
WHEREAS, the HRA gave its Notice of Intention to Take Title and Possession on
April 5, 2006 indicating a need to acquire title and possession of 6500 Cedar as of August
31,2006; and
WHEREAS, the District Court on April 26, 2006 issued its Findings and Fact,
authorizing transfer of title and possession, requiring Haags to deliver title and possession
of 6500 Cedar Avenue by August 31, 2006; and
WHEREAS, Glynn Haag is proposing the HRA enter into the attached Stipulation
of Partial Settlement (the "Settlement").
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota as follows:
1. The Settlement is approved in substantially the form presented.
2. The Executive Director and Board Chair are authorized to execute the
Settlement on behalf of the HRA and to take all actions and do all things that
are reasonable necessary to the fulfillment of the HRA's obligations under
the Settlement.
Approved by the Housing and Redevelopment Authority in and for the City of Richfield this
30th day of June 2006.
ATTEST:
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Donna Drummond, Secretary