1977-2932
HRA RESOLUTION NO. 29
RESOLUTION ESTABLISHIi1G FAIR
N1AItICET VALUE AND PROVIDING
. FOR THE CUMMENCEME-~]T OF
NEGOTIATIONS FOR TIIE PURCHASE
OF REAL PROPERTY
WHEREAS, the Richfield Housing and Redevelopment Authority (HRA) desires
to purchase certain real property pursuant to and in furtherance of the
Lyndale/Hub/Nicollet Redevelopment Project heretofore adopted by the City of
Richfield (the "City") and the HRA, said real property being described as
follows: Lot 9, Block 3, Fairwood Shores Addition; and -
WHEREAS, the HRA has caused appraisals of the subject property to be
made, has carefully considered such appraisals, and believes the work. of such
appraisers was performed in a competent manner and in accordance with applicable
- law;
NOW, THEREFORE, BE IT RESOLVED BY THE RICHFIELD HOUSING AND REDEVELOPMENT
AUTHORITY:
1. That $38,000 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 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, the Executive Director
shall report back to the HRA with a proposal for the purchase of said real
property which is acceptable to the owner(s), and shall report his recommendation
relating to said proposal.
Passed by the Richfield Housing and Redevelopment Authority this 14th day of
March, 1977.
ATTEST:
Ivan L e Secretary
oren aw iairman