86-7245R19
RESOLUTION N0..7245
RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY AT
6301 PORTLAND AVENUE FOR PARK PURPOSES
WHEREAS, the city council has indicated its willingness to
purchase property on thee east side of Portland Avenue north of
66th Street for park purposes when such property is available for
purchase, and
WHEREAS, the property at 6301 Portland Avenue is available
for purchase and the city staff has negotiated a purchase
agreement for this property, and
WHEREAS, the city as buyer and the owners of 6301 Portland
Avenue as seller have agreed to a purchase price of $72,580 with
real estate taxes and installments on special assessments to be
prorated as of the date of closing, with any relocation benefits
for the seller to be waived and with the buyer agreeing to rent
the dwelling at 6301 Portland Avenue to the seller for a period
not to exceed September 1, 1987 at a rental rate of $250/month,
and
WHEREAS, funds for the purchase of this property are to be
borrowed from the Permanent Improvement Revolving (PIR) Fund at
an annual interest rate of 7~ and repaid from future allocations
to the park land acquisition account.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield, Minnesota that the purchase of the property at
6301 Portland Avenue, for the terms outlined above, is hereby
approved.
Passed this 13th day of October,
ATTEST:
Thomas Ferber City Clerk