08-20 HRA Resolution No. 1306 HRA RESOLUTION NO. 1306
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY
LOCATED AT 6501 PENN AVENUE SOUTH
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota ("the HRA") desires to purchase certain real property pursuant to and
in furtherance of redevelopment and the City's Comprehensive Plan, said property being
described as:
The South 189 2/10 feet of the North 876 8/10 feet of the West 1/8 of the Southwest
1/4 of the Northwest 1/4, except highway
WHEREAS, the HRA is authorized by Minnesota Statutes Section 469.012 to
acquire real property within its area of operation; and
WHEREAS, HRA funds are available for acquisition purposes.
NOW THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield:
1. The purchase price for the property identified is approved not to exceed
$480,700, plus closing costs, not to exceed $25,000.
2. The Chairperson and Executive Director are authorized to execute a
Purchase Agreement and to take other actions necessary to purchase
the property for the amount set forth in this resolution.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota on this 20th day of August, 2018.
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