04-18-2022 HRA Resolution No. 1430
HRA RESOLUTION NO. 1430
RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE A
PURCHASE AGREEMENT REGARDING THE PROPERTY LOCATED AT 1516 - 66TH
STREET EAST IN THE CITY OF RICHFIELD
WHEREAS, the owners of A World of Fish, located at 1516 - 66th Street East,
Richfield, Minnesota (the “Property”), have determined to close the business and are
interested in selling the Property and the building located thereon (the “Building”) to the
Housing and Redevelopment Authority in and for the City of Richfield, Minnesota (the
“Authority”); and
WHEREAS, the Authority has proposed to enter into a Purchase Agreement (the
“Purchase Agreement”) with the owners of the Property and desires to authorize the Executive
Director of the Authority to negotiate the terms of the Purchase Agreement with a purchase
price of the Property and the Building in an amount equal to up to 110% of the tax value of the
Property; and
WHEREAS, the Authority intends to approve the Purchase Agreement at the meeting
of the Board of Commissioners of the Authority (the “Board”) to be held on May 18, 2022, or
another meeting to be determined by the Executive Director of the Authority; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Richfield, Minnesota as follows:
1. The Executive Director is hereby authorized and directed to negotiate the terms of the
Purchase Agreement with a purchase price of the Property and the Building in an
amount equal to up to 110% of the tax value of the Property.
2. The purchase of the Property and the Building shall not be effective until the Board
has approved the execution and delivery of the Purchase Agreement.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota this 18th day of April, 2022.
Erin Vrieze Daniels, Vice Chair
ATTEST:
Maria Regan Gonzalez, Secretary