09-10267rCITY OF RICHFIELD
RESOLUTION NO. 10267
RESOLUTION AUTHORIZING OPTION AGREEMENT
WHEREAS, the City of Richfield is the owner of certain real estate located in the
City of Richfield, County of Hennepin, State of Minnesota, as described in the attached
Exhibit A (the "Property"); and
WHEREAS, Accessible Space, Inc. desires to entire into an Option Agreement for
the Property; and
WHEREAS, the Option Agreement contemplates the potential purchase of the
Property by Accessible Space, Inc. for the construction of affordable housing for
individuals with physical disabilities; and
WHEREAS, the City Council has determined that it is in the public interest to enter into the
Option Agreement.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
RICHFIELD as follows:
1. The recitals set forth in this Resolution are incorporated into and made a part
of this Resolution.
2. The Mayor and City Manager are authorized and directed to execute an
Option Agreement in substantially the form as presented to the City Council.
3. The Mayor and City Manager are authorized and directed to execute all
necessary and appropriate documents to implement the provisions of the of the Option
Agreement in accordance with the terms and conditions thereof including, but not limited to
all other instruments and documents customary to such transactions.
4. This. resolution and the City's performance of the Option Agreement are
contingent upon the approval of an ordinance authorizing the sale as required by City
Charter.
Adopted this 28th day of July, 2009
Debbie Goe el, Mayor
ATTEST:
Nancy Gibbs, ity Clerk
EXHIBIT A
Legal Description of Property
Lot 6, Block 4 of the R.C. Soens Addition.