1979-110123
HRA RESOLUTION N0. 110
RESOLUTION- ESTABLISHING F'A I R i~iARKET VALUE
AND AUTHORIZING THE CO141l1ENCEtitENT OF
NEGOTIATIONS FOP THE PURCHASE" OF REAL PROPERTY
7200 THIRD AVENUE SOUTH"
~VHERE4S, the Richfield Housing and Redevelopment Authority
(HRA) desires to purchase c$rtain 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:
7200 Third Avenue So., Lot 1, Block 6, Wooddale Second Addition,
Hennepin County, MN; Plat 46931, Parcel 4800
tiVHERE~IS, 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 lacy; and
tiVHEREAS, the Housing and Redevelopment Authority is authorized
by AZinnesota Statues Section 462-.445 to purchase real property;
NO~t', THEREFORE, BE IT RESOLVED BF THE HOUSING AND REDEVELOP?IENT
AUTHORITY OF PICHFIELD, i4SINNESOTA:
1. That $27,000 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 hexeby directed to notify,
in writing, the owner of the subject property, as soon as possible,
that the HPA 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 s-~atement which complies with the requirements of re.;u-
lations 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 bath to .the HRA with a proposal for the purchase
. of said real property which is acceptable to the own~r(s}, and shall
report his recommendation relatin; to said proposal.
Passed by the IIousiny and Redevelops t autlioritt of F~ichfield
this 12th day of March, 1979. / ~j "
ATTEST: o en L`-I';flw ~~/~" Chairman
L . Luettinger Secretary
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