1979-112125
HRA RESOLUTION N0. 112
RESOLUTION ESTABLISHIITG FAIR i~IAI~KET VALUE
A~TD AUTHORIZING TfIE C0~,114ENCE1tENT OF
NEGOTIATIONS-FOR THE PURCHASE OF REAL. PROPERTY
~i310 FIFTEENTH AVENUE SOUTH
~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:
6310 15th Avenue So., Lot 3, Block 2, Nokomis Gardens Rearrange-
ment of Blocks 1, 2, 3, 4, and 5. Girard Parkview, Hennepin Co.,
MN; Plat 45940, Parcel 0950
NHEREAS, the HR~i has caused appraisals of the subject property
to be made,. has .carefully considered such appraisals, and believes
the work of such appraiser tivas performed in a competent manner and in
accordance with applicable law; and
tiYHEREAS, the Housing and Redevelopment Authority is authorized
'by D~innesota Statutes Section 462.445 to purchase real property;
NOSY, THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOP'IENT
AUTHORITY OF RICHFIELD, 1~INNESOTA:
1. That $27,0.00 is determined to be fair market value for
the subject real property.
2. That the Executive Director and ttie HRA's attorney arc
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 a.s possible,
that the HRA presently intends to acquire his property-provided
negotiations result in the determination of a mutualll= agreeable
sales price, The Executive Director shall include with such noti-
fication a statement which complies with the requirements of remu-
lations of the Department of HoLising and Urban De~-elopment, 24 C.F.F..
X42.135.
4. That upon the completion of the negotiations; the Exectiti~-e
Director shall report baclt to the HRA with a proposal for the purchase
of said real property which is acceptable to tlc o~imer(~ },: -anr~ ~ti;~.l l
report his recommendation gelatin; to said proposal.
Passed by the lIousin7 and Redevelo
this 12th day of March, 1979. ~
ATTEST: t/ Lu/rep L.
• L ettinger e c re t a r t•
authorit~• of Richfic.~l~~l
~ tia i r^~aii