1977-7481
' HRA RESOLUTION N0. 74
°'RESOLUTION E5TAIILI~SHING FAIR
,• ~ MARKET VALUE AND PROVIDING
FOR THE ACQUISITION OF ~ ~'
REAL PROPERTY
6600 GRAHAM AVENUE
• e
WHEREAS, the Housing and Redevelopment Authority. of Richfield (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 proper-ty
being described as follows: Lot 11, Block 3, Fairwood Shores Addition,
Hennepin County, Minnesota; and
. WHEREAS, the HF.A 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, IIE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT
AUTHORITY OF RICHFIELD:
l.~ That $43,500 is determined to be just compensation for the
subject real property.
2'. 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.
3. 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.
4. That-upon completion of the negotiations, the Executive
Director is authorized to execute the purchase agreement and to
purchase the above-described property for an amount not to exceed
$45, 500. .
Passed by the Housing and Redevelopment 7~uthority of Richfield this 12th
day :of December . 1977.
:-
~ren .L. Law C a~.rman
ATTEST:
van Ludeman Secretary