1979-109122
HRA RESOLUTION NO. 109
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RESOLUTION ESTABLISHING FAIR idCARKET VALUE'
A~TD AUTHORIZING THE COII:IIENCE~tENT OF
NEGOTIATIONS FOR THE PURCHASE OF REAL PROPERTY
6916. QUEEN AVENUE
~YHEREAS, the Richfield Housing and Redevelopment Authority
(HRA) desires to purchase certain real properties 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:
.6916 Queen Avenue So.; Lot 5, Block 15, "Tingdale Brothers
Lincoln .Hills Third Addition", Hennepin Co., MN, Plat 46793,
Parcel 8200
jYHERE~AS, the HRA has caused appraisals of the subject property
to be made, has carefully considered such appraisals., and believes
the work of such appraiser was performed in a competent manner and in.
accordance with applicable law; and
tiYHEREAS, the Housing and Redevelopment Authority is authorized
by Dsinnesota Statutes Section 462.445 to purchase real property;
NOtiY, TIiEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOP.`.IE'_VT
AUTHORITY OF RICHFIELD, MINNESOTA:
1. That$23,OQ0 is determined to be fair market value 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 o~,vner 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 noti-
fication a statement which complies with-the reduirements o:f regu-
lations of the Department of fiousing and Urban Development, 24 C.F.P.
842.135.
4. That upon the completion of the negotiations, the Executive
Director shall-report back to ,the.HltA with a proposal for the purchase
of said real property which is acceptable to the owner(s), and shall
report his recommendation relatin, to said proposal.
Passed by the housing and Redevel~~p
this 12th day of March, 1979. ,
ATTEST:
~. /
V. I,~ er- Secret~.ry
Richfield