1976-26•
HRA RESOLUTION N0. 26
RESOLUTION ESTABLISHING FAIR
MARKET VALUE AND PROVIDING
FOR 7HE PURCHASE OF REAL PROPERTY
WHEREAS, the Richfield Housing & Redevelopment Authority (HRA)
desires to purchase certain real property pursuant to and in furth-
era~nc~e of the New Nome-Program heretgfore adopted by .the HRA, said
real property being described as follows: Lot 14, Block 6, Girard
Parkview Addition, Hennepin County, Minnesota.
WHEREAS,- the .H RA has caused appraisals of the subject property
to b~ made, has carefully considered such appraisals, and believes
tfle ~,~ark of such appraisers was performed in a competent manner and
in accordance with applicable law; _
NO~J, THEREFORE, BE IT RESOLVED, by the Richfield Housing &
Redevelopment Authority:
1. That $16,500 is determined to be just compensation for _
the subject real property. .
2. That the Executive. Director and the HRA's Attorney are
authorized and directed to commence negotiations for
the purchase of real property described above. The
owner of the subject property shall be offered the sum
of $16,500 far the sale of said property.
3. That the Executive Director is hereby directed to noti-
fy, in`writing, the owner of the subject .property, as
soon as possible, that the HRA presently intends to
acquire his property provided negotiations result in
the determination of a mutually agreeable sales price.
The Executive' Director shall include with such notifica-
tion a statement which complies with the .requirements of
regulations of the Department of Housing and Urban Deve]op-
ment,.24 D.F.R. X42.135.
• 4. That upon the completion of the negotiations at a pur-
_ •, chase price of $16,500, the Executive Director is hereby
_ ~ authorized to proceed frith the closing for the purchase -
. of the real property referenced above and to advertise
the (re)sale of the property for $10,500,
Passed by the Richfield Housing and Redev opment Authority this 27th
day Of December , 1976..
o~r n L. Law Chairman
ATTEST:
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A. P. Anderson Secretary