02-847r
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HRA RESOLUTION NO. 847
RESOLUTION AUTHORIZING SALE OF REAL PROPERTY LOCATED AT 7039 FIFTH
AVENUE SOUTH TO TWIN CITIES HABITAT FOR HUMANITY IN ACCORDANCE WITH
A DEVELOPMENT AGREEMENT
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) desires to develop certain real property pursuant to and in
furtherance of the Richfield Rediscovered Program adopted by the HRA, said real property
being described as follows:
Address
7039 Fifth Avenue South
LeQal
Lots 30 and 31, Block 1, Savage's First Addition
WHEREAS, the HRA is authorized to sell real property within its area of operation
after public hearing; and
WHEREAS, a developer, Twin Cities Habitat for Humanity, has been identified as
the purchaser of the described property and in accordance with a development agreement;
and
WHEREAS, a public hearing has been held after property public notice.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield:
1. A public hearing has been held and 7039 Fifth Avenue is authorized to be sold for
$1.00 to Twin Cities Habitat for Humanity in accordance with a development
agreement with the HRA.
2. That the HRA accept a $40,000 second mortgage lien executed Habitat, and upon
sale to an end buyer, the HRA release the lien with Habitat and accept a second
mortgage lien executed by the end buyer.
3. The Chairperson and Executive Director are authorized to execute a Contract for
Private Development and other agreements as required to effectuate the sale to
Twin Cities Habitat for Humanity.
Adopted by the Housing and Redevelopme thonty In and for the City of
Richfield, Minnesota this 18th day of March, 200 . ~_ .
Thomas E. Harms, Chair
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Michael SaqdcihVSecretary
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