1980-139
6617 Graham Avenue 16
HRA RESOLUTION NO. 139
RESOLUTION ESTABLISHING JUST
COP4PENSATION AND AUTHORIZING NEGOTIATIONS
TO PURCHASE PR OPERTY IN THE L/H/N -
WHEREAS, the Richfield Housing and Redevelopment Authority
(HRA) desires to purchase certain real property, pursuan-~ to and
in furtherance of the L/H/N Redevelopment Project heretofore
adopted by the City of Richfield (the ".city") and the HRA, said
real property being described .as follows:
Lot 10, Block 1, Fairwood Shores Addition, Hennepin County,
Minnesota, (6617 Graham), and .
WHEREAS, the HRA has caused appraisals of the subject property
to be made and has carefully considered such appraisals, and
WHEREAS, funds to provide for the purchase of this property
are available in the Tax Increment Reserve Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF RICHFIELD:
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1. That $77,000 is determined to be just compensation for
the subject real 'property.
2. That the Executive Director and the HRA's attorney are
authorized and directed to commence negotiations for 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
notification a statement which complies with the requirements of
regulations of the Department of Housing and Urban Development,
24 C.F.R. X42.135.
4. That the Chairman and Executive Director are authorized
to execute a purchase agreement for just compensation for the
purchase of said real estate.
5. That if the negotiations result in a proposal for the
purchase of said real estate greater than just compensation, said
proposal shall be presented to the HRA.
Passed by the Housing and Redevelopment Authority of
Richfield this 24th day of March, 1980.
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Donald J. Prie Chairman
ATTEST:
V. L. Luett' er Secretary
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