1979-116129
HRA RESOLUTION N0. 116
RESOLUTION ESTABLISHING PAIR i~ZARKETVALUE
AND AUTHORIZING THE CO1lI1l4ENCE:~tENT OF
NEGOTLATIONS FOR -THE PURCHASE OF REAL- PROPERTY
7520 PORTLAND AVENUE
IYHEREAS, 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:
7520 Portland Avenue So., E 165.8' of the S 75' of the N 342.8'
of the E ~ of the SE ~ of the NE ~ of the SE ~ exc. rd. Sec. 34,
T 28, R 24; Plat 44.834, Parcel 4520
jVI-IEREAS, 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
~UHEREAS,-the Housing and Redevelopment Authority is authorized
by 1lginnesota Statutes Section 462.445 to purchase real property;
NOtiV, THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOP~,ZENT
AUTHORITY OF RICHFIELD, 1~IINNESOTA:
1. That $24,500 is determined to be fair market-value for
the subject real property.
2. That the Executive Director and the HRA's attorney ar•e
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 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 requirements o.f regu-
lations of the Department of fiousing and Urban Development, 24 C.F'.F..
X42.135. __
4. That upon the completion of the negotiations., the Executi~-F~
Director shall report back to the HRA with a proposal for the purch~.
of said-real property which is acceptable to the owner(s), and shall
report his recommendation relating to s-aid proposal.
Passed by the Housing and Redevelopme Authority of Richfield
this 12th day of March, 1979. ~ .!%~ _ /l /~
ATTEST: ~LC/ren ~. Law ~ ~-l - caiairman
.~
V. L. Luettinger Secretary -