04-23-01 agenda~--,~~ v
• CITY OF RICHFIELD
MONDAY, APRIL 23, 2001
SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING
RICHFIELD CITY HALL
COUNCIL CHAMBERS
6:30 P.M.
AGENDA
Call to order
1. HRA approval of agenda
2. Public hearing and consideration of resolution authorizing sale of real property at
6800 Logan Avenue to Alta Limited
Staff Report No. 40
• Adjournment
Auxiliary aids for individuals with disabilities are available upon request.
Requests must be made at least 96 hours in advance to the Administrative
Services Director at 612-861-9702. -.
J STAFF REPORT
AGENDA ITEM # 2
REPORT # 40
SPECIAL HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
APRIL 23, 2001
•
" PA1V1 BOOKHOUT,
REPORT PREPARED BY: AEI-IAgIL,ITATION SPECIALIST
NAME, TITLE
BRUCE PALMBORG,
REPORT PRESENTER: COMMUNITY DEVELOPMENT DIRECTOR
NAME, TITLE
DEPARTMENT DIRECTOR REVIEW:
~~:~1-
SIGNATURE
REVIEWED BY EXECUTIVE DIRECTOR:
ITEM FOR HRA CONSIDERATION:
Public hearing and consideration of the attached resolution authorizing the sale of real
property located at 6800 Logan Avenue to Alta Limited for new construction of a single family
home.
I. RECOMMENDED ACTION:
Conduct and close a public hearing and by motion: Approve the
attached resolution authorizing the sale of real property located at
6800 Logan Avenue to Alta Limited.
•
II. BACKGROUND
In 2000, the HRA purchased the. property at 6800 Logan Avenue under the Richfield
Rediscovered Program. A builder/buyer team has been identified to develop a new
home on this site. The new home will be two-story 2,700-sq. ft. house with five
bedrooms and two-and-one-half baths. The lot size is 136 ft. by 82 ft. The end value
is anticipated to be approximately $325,000. Demolition of the existing building is
complete. Construction is anticipated to start soon after closing on the sale of the
parcel. The Contract for Private Development is similar inform and content to past
contracts.
0423-6800Logan
III. BASIS OF RECOMMENDATION
A. POLICY
• The HRA acquired the sites for development under the Richfield
Rediscovered program.
• Alta Limited is experienced and qualified.
• The terms of the Contract for Private Development have been
negotiated and are in conformance with program guidelines.
B. CRITICAL ISSUES
• N/A
C. FINANCIAL
• According to the program guidelines, the builders must provide a
Letter of Credit or other acceptable security upon closing to cover the
purchase price of the land and performance security. For 6800 Logan
Avenue; the land sale price is $81,601.51, and performance security
must be in the amount of $65,000.
D. LEGAL
• • Notice of public hearing on sale of the .property was published on April
4, 2001 in the City Hall.
IV. ALTERNATIVE RECOMMENDATION~S~
• Do not proceed with. the Contract for Private Development with the
recommended builder and direct staff to find another buyer.
V. ATTACHMENTS
• Resolution
• House plans/elevations (4)
VI. PRINCIPAL PARTIES EXPECTED AT MEETING
• N/A
•
HRA RESOLUTION NO.
• RESOLUTION AUTHORIZING THE SALE OF REAL PROPERTY LOCATED AT
6800 LOGAN AVENUE TO ALTA LIMITED
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:
6800 Logan Ave. legally described as: Lot 1, Block 6, Tingdale Bros. Lincoln Hills
Second Addition, Hennepin County, Minnesota
WHEREAS, the HRA is authorized to sell real property within its area of operation
after a public hearing; and
WHEREAS, the purchaser of the described property has been identified as Alta
Limited; and
WHEREAS, a Contract for Private Development has been prepared, and the sale
price of 6800 Logan Avenue is $81,601.51 with performance security in the amount of
$65,000; and
WHEREAS, a public hearing has been held after proper public notice.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority in and for the City of Richfield, Minnesota:
1. A public hearing has been held and 6800 Logan Avenue is authorized to be sold
for $81,601.51 to Alta Limited; and
2. The Chairperson and Executive Director are authorized to execute a Contract for
Private Development and other agreements as required to effectuate the sale to
the builder.
Adopted by the Housing and Redevelopment. Authority in and for the City of
Richfield, Minnesota this 23rd day of April, 2001.
ThomasE. Harms, Chair
ATTEST:
Michael Sandahl, Secretary
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