1979-1131~6
HRA RESOLUTION N0. 113
RESOLUTION ESTABLISHING FAIR ?~1ARhET VALUE.
AND AUTHORIZING THE COrlt1ENCE~ldENT OF
NEGOTIATIONS FOR THE PURCHASE %OF REAL PROPERTY
11 EAST 68TH STREET
- WHEREAS, 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:
11 East 68th St., Lots 83 and 84, We-stern Surety & Adjustment
Company's Addition "The Pines', Hennepin Co., MN; Plat 46905.,
Parcel 8350
~YHEREAS, 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
1
~1
tiYHEREAS,. the Housing and Redevelopment Authority is authorized
'by DZinnesota Statutes Section 462.445 to purchase real property;
NORr, THEREFORE, BE IT RESOLVED BY THE HOUSING. AND REDEVELOP!IENT
AUTHORITY OF RICHFIELD, %ZINNESOTA:
1. That $26,500 is determined to be fair market- value for
the subject real. property.
2. That the Executive Director and the HRA's attorney a~•C
authorized and .directed to com_Tnence 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 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 tvith such noti-
fication a statement which complies with the requirements of re~u-
lations of the Department of Housin; and-Urban Development, 24 C.F.R.
X42.135. _
4. That upon the completion of the negotiations, the Executive
Director shall report baclti•to the HRA with a proposal for the purchase
of said real. property cvhich is acceptable to the owner(s), and shall
report his recommendation relating to said proposal.
Passed by the lIousin;; and ~edevelopmen
this 12th day of March, 1979. ~~
ATTEST: for/en L. L,t.~v
L. L finger- Secretary
uthority ~f Richfield
airman