1977-2730
HRA RESOLUTION N0. 27
1
RESOLUTION ESTABLISHING FAIR
MARI~T VALUE AND PROVIDING
FOR TEIE PURCIiASE OF
' REAL PROPERTY
WHEREAS,-the Richfield Housing and Redevelopment Authority (HRA) desires to
purchase certain real property pursuant to and in furtherance of the New Home
Program heretofore adopted by the City of Richfield (the "City") and the HRA,
said real property being described as follows: Lot 3, Block 2, Tingdale Brothers
Lincoln Hills Addition, Richfield, Minnesota; and _
WHEREAS, the HRA has caused an appraisal of the subject property to be made,
has carefully considered such appraisal, and believes. the work of such appraiser
was performed in a competent manner and in accordance with applicable law; and
- WHEREAS, the Housing and Redevelopment Authority is authorized by Minnesota
Statutes, Section 46Z.445'to purchase real property;
NOW, THEREFORE, BE IT RESOLVED BY THE RIC[-~IELD HOUSING AND REDEVELOPb1ENT
AITTEiORITY
1. T}iat S16,OOOis 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 the real property described
above . • . -
° 3. That the Executive Director is hereby directed to notify, 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 notification a statement which complies with the requirements of regulations
of the Department of Housing and Urban Development, 24 C.F.R. X42.135.
4. That upon the completion of the negotiations at a purchase price of
$16,000 and assumption of the special assessments, the Executive Director is
hereby authorized to execute the purchase agreement, to purchase the above-described
property, and to proceed with site clearance and advertising for resale of the land.
Passed by the Richfield Housing and Redevelopment
February , ]:977.
G
ATTEST:
,•Ivan u eman ecretary
ty this 14th day of