01-836r
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HRA RESOLUTION NO. 836
RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY LOCATED
AT 6819 OLIVER AVENUE SOUTH FOR SINGLE FAMILY REDEVELOPMENT
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota (the "HRA") desires to purchase certain real property for single family
redevelopment, said real property being described as:
6819 Oliver Avenue South
Lot 1 0, Block 8, Tingdale Bros. Lincoln Hills
Second Addition
WHEREAS, the HRA is authorized by Minnesota Statues 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 purchase price of $89,210.00 for 6819 Oliver Avenue South is the
correct purchase price, based on lender's costs and related foreclosure fees; and
WHEREAS, funds from the bonds of 1996 will be transferred to the Development
Opportunities fund to provide for the purchase of the property; and
WHEREAS, 1996 bond funds are available for this purpose.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota.
1. The purchase price of 6819 Oliver Avenue is approved at $89,210.00.
2. The Chairperson and Executive Director are authorized to execute necessary
documents to allow purchase of the property in the amount set forth in this
resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of November, 2001.
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Thomas E. Harms, Chair
ATTEST:
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