1977-3946
HRA RESOLUTION N0. 39
RESOLUTION ESTABLISHING FAIR
( MARKET VALUE AND PROVIDING
FOR THE PURCHASE OF
REAL PROPERTY
7308 Portland Avenue
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: Block 1, Lot 3, Blair's Wooddale Third Addition, Richfielcfl,~
Minnesota; and'
WHEREAS, the HRA has caused an appraisal of the sub~.ect proper~:y
to be made,-has carefully considered such appraisal, andrbelieves
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 462.445 to purchase real property;
NOW, THEREFORE, BE IT~RESOLVED BY THE RICHFIELD HOUSING AND
REDEVELOPMENT AUTHORITY:
1. That $17,000 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 di.rectecl 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 $17,000 and assumption of the special assessments, the
Executive Director is hereby authorized to execute the purchase '
agreement; and to purchase the above-described property and to proceed
with site clearance and advertising for resale of the land when suffici~:~u
funds are available in the New Home Program Revolving Fund.
Passed by the Richfield Housing and-Redeve
of August , 1977. ~ ~ S
( A TEST: __ ~ ~ ore
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"van Luc'~man Secretary
t Authority this .8th daffy'
a