05-02-06 Special
CITY OF RICHFIELD, MINNESOTA
TUESDAY, MAY 2,2006
SPECIAL HOUSING AND REDEVELOPMENT AUTHORITY MEETING'
RICHFIELD CITY HALL
COUNCIL CHAMBERS
6700 PORTLAND AVENUE
6:15 P.M.
Call to order
Roll Call
1. Discussion regarding acquisition of additional parcels in Cedar Point development area
Staff Report No. 17
Adjournment
Auxiliary aids for individuals with disabilities are available upon request. Requests
must be made at least 96 hours in advance to the City Clerk at 612-861-9738. '
AGENDA ITEM # 1
REpORT # 17
.......
STAFF REpORT
RICHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
MAY 2,2006
REpORT PREPARED By:
PATRICK SMITH, COMMUNITY
DEVELOPMENT1{ANAGER
NAME, TITLE
REpORT PRESENTER:
PATRICK SMITH, COMMUNITY
DEVELOPMENT 1{ANAGER
ACTING DEPARTMENT DIRECTOR
REVIEW:
REVIEWED BY EXECUTWE DIRECTOR:
ITEM FOR HRA CONSIDERATION:
Consideration of the status of acquisition activities of properties for redevelopment pursuant to
the Cedar Point project.
1. RECOMMENDED ACTION:
No action is required
I II. BACKGROUND I
In July 2005 the Richfield Housing and Redevelopment Authority (HRA) entered
into a contract for private development with Ryan Companies US, Inc. (Developer)
for the Cedar Point area. Under the contract the Developer is responsible for
purchasing 33 houses and the HRA and City are responsible for purchasing 5
properties.
The Developer held an Open House on July 27, 2005 and invited all 33 property
owners. The Developer began negotiations with property owners in August 2005.
Since that time, all of the property owners in the area have received formal offers
for their properties. Thirty-one of the property owners have signed a purchase
agreement. The Developer has been unable to reach an agreement with 2 of the
33 property owners (6415 17th Avenue and 6501 18th Avenue).
050206 Cedar Point acquisition
The Contract with the Developer differentiates the roles and responsibilities of the
Developer and the HRA. To date, the Developer is in conformance with the terms
of the Contract.
The purpose of the May 2nd meeting is to discuss the status of acquisitiOn activities
and possible options.
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. On July 27,2005 the HRA entered into a Contract for Private
Development with Ryan Companies US, Inc.
. Under the contract the Developer is responsible for purchasing 33
houses and the HRA and City are responsible for purchasing 2
apartment buildings and 3 commercial properties.
I B. CRITICAL ISSUES I
. In order for the Developer to move forward with necessary steps in the
development process, according to the development schedule, the
timely acquisition of all parcels is required.
I C. FINANCIAL
. N/A
I D. LEGAL
. N/A
I IV. ALTERNATIVE RECOMMENDATION(S)
. N/A
I V. ATTACHMENTS
. Map
I VI. PRINCIPAL PARTIES EXPECTED AT MEETING
. HRA Legal Counsel
Cedar Point
Project Area
-
6315
6321
6327
6333
6339
6345
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Legend
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I Corridor Out me
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MN DEED Grant
~ FAAt MAC Grant
MAC Grant
.. (Property needed to accomodate
TH 77 t66th 81. project)
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I 66th Street
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.. HennePi.n County Grant
(MJP Funds)
.. City of Richfield Funding
(for roundabout intersection)
r=J Purchased Properties
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Crealed: February 9, 2006
o 55 110 220
330
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