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HRA RESOLUTION NO. 866
RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY WITHIN THE CITY BELLA
PROJECT AREA AND IDENTIFIED AS: LOT 3, 4,5 AND 18, "FAIRWOOD SHORES",
HENNEPIN COUNTY
WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield
(HRA) has acquired Lot 3,4,5 and 18, Block 3, "Fairwood Shores", (also known as 709 Graham
Avenue and 6639 Lake Shore Drive), and
WHEREAS, the HRA has identified Gramercy Corporation as the buyer of the property; and
WHEREAS, Gramercy Corporation has agreed to purchase the property from the HRA in
accordance with the terms of the Amended and Restated Contract for Private Redevelopment by
and between the HRA and Gramercy Corporation dated April 15, 2002; and
WHEREAS, the HRA is authorized to sell real property within its area of operation after a
public hearing; and
WHEREAS, the public hearing has been held after proper notice; and
WHEREAS, the Planning Commission of the City of Richfield has made a determination
that the disposition of the property for project purposes is consistent with the Comprehensive Plan.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment Authority in
and for the City of Richfield, Minnesota as follows:
1. A public hearing has been held on the sale of real property described above.
2. The sale of property to Gramercy Corporation, in accordance with the terms of
the Amended and Restated Contract for Private Redevelopment by and between
the HRA and Gramercy Corporation, is hereby approved.
3. The Chairperson and Executive Director are authorized to execute any and all
documents and agreements necessary to implement this resolution.
Adopted by the Housing and Redevelopment AUlh~.r.it. nd for the City of Richfield,
Minnesola Ihis 21 sl day of October, 2002. ~
Thomas E. Harms, Chair