02-862r
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HRA RESOLUTION NO. 862
RESOLUTION AUTHORIZING THE USE OF FEES FOR SERVICES PROVIDED UNDER
HOUSING AND REDEVELOPMENT AUTHORITY PROGRAMS
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (HRA) provides loans under various home improvement programs to
allow for the maintenance and improvement of Richfield tlomes; and
WHEREAS, the HRA provides junior mortgages for homes developed and sold to
first-time buyers to make them affordable; and
WHEREAS, the HRA must file its mortgage documents in order to secure the liens,
and therefore must have evidence of proper title and ownership; and
WHEREAS, if proper title and ownership need to be resolved through title updating
or through legal services, the homeowners will be responsible for those fees; and
WHEREAS, the HRA is requested to subordinate its liens whenever homeowners
refinance or obtain a new mortgage on their home; and
WHEREAS, the HRA is willing to provide such a service in cases where the HRA's
lien is still secure, and the homeowner pays a $50.00 fee to cover administrative costs.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, homeowners shall be responsible for actual fees
to provide proper title and ownership for HRA lien filing, and a fee of $50.00 shall be
required whenever a request is received for a subordination of an HRA lien.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 21st day of October, 2002.
ATTEST: