1976-23
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HRt~ RESOLUTION N0. 23
RESOLUT~I ON AUUI Il-IORI Z ING THE
EXECUTION OF A COid`I'RACT TO
BOR1t0IV h1ONEY FR0~1 1T }l; CITY
OF RICHFIELD AND PROVIDING-
FOR T1iT COJ~fENCE?~iLNT OF
1\TEGOTIATIO.~S FOR T1II: PURCHASE
OF REAL PROPERI'X
1t~REAS, .THE Richfield housing and P.edevelopr~ent Aut}lority (HRA) desires to
boxraw money for the purpose of purchasing certain real property pursuant to and
-i1i furtherance of the L/H/N Redevelopment Project heretofore adopted by the City
. . of Richfield (the "City''} and the ]II2A, said -real property being described as
follaws: Lot 4, Bloc}: ~, Faixwood Shores Addition,. Hennepu': County, ._ .-
h3innesota, and . .
•1~'HEREAS, the HRA has caused appraisals of the subject property to.be made
and 1~as carefully coilsidexed such appraisals, -and ..
• 1:~3EItFAS, L•he HRA is authorized b~T.Minnesota Statutes, Section 462.445 to
purchase zeal pxopcrty alld to borrala money from the City therefore, and .
- t~~3EREAS, the City is authorized by I~linnesota Statutes., Section 462.58J. to
rr.~.I`e loans to the HRA ~ n aid of projects ,
. - I~~J'a~, TIiEREFORE, BE IT RESOLb~D Bi' TI-L RICHFIELD HOUSING ~L,~ RELE~~iLC~P~~>~~T
AUI i ]ORI'I'1`
1. That t]ie Chairman and the Executive Director be, and hereby are author-
~i.zed to execute, as agents of the Richfield Housing and P.edevelopment Authority,
agreement t~ith the City of Richfield (entitled 'Loan Agreement') a copy of
•~ which is }iereby biven Clerk's Fi3e No. 16 ,and is ordexed placed on file.
2. That the Executive Director. be,~and hereby is director to present said
aExee~~.,~:nt to the City of Ric}if ie7.d for its consideration and acceptance .
~. That $24,500 is detei7nined to be just compensation fox the subject real
~jrmperty. ..
• 4. That the Executive Director and the HRA's attoxney axe authorized and
di.aected to coir~ncnce negotiations fox the purchase of the real property described
• 3.n y;}1e above agreement upon acceptance and exccutiari of the above agreement by
the .City of hichfa.cld• or~thelsalefof said prop pty erty shall be offered the .
.stun of $24,500 dollars f
5. T}i~zt the Executive Director ~ is hereby directed to notify, i.n writing,
the owner of the subject property; as-'soon as possible, that the H12A presently
intends to ace{wire his property provided neeotiati.ans result in the dcter;ninatiait
of a muCuz]1y agxce~ble Sale price. .The )executive Director shall include i~fit}i
sue}i notification a statement w}iic}i complies with the rec{uiremcnts of: regulations
' o~ the Depaxtmciit of }loosing and Urban ])evel.apment , 24 C . }~ . R. ~4 2.155 .
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• 5. That upon the completion of the negotiat3.ons, the Executive Director
shall report back to Lhe }IItA with a proposa]. for the purchase of said real
property which is acceptable to'the land owner, and shall report his reco~mnenda- ~'~
tions relating to said proposal.. ~1
Passed by-the Housing and Redevelopment Authority o~ Richfield this 13th day
of Decemlier, 1.976. -
. ~ ~ en . aw aa.nnan
ATTEST: - - .. -
, erson, ecretary - ~ ~_ •
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