1982-19370
RESOLUTION NO. 193
RESOLUTION ESTABLISHING JUST
COMPENSATION AND AUTHORIZING
THE PURCHASE OF 732 W. 66TH STREET
WHEREAS, the Housing and Redevelopment Authority of Rich-
field, Minnesota (HRA) did on October 15, 1975, approve a
redevelopment plan for an urban renewal project for the Lyndale-
Hub-Nicollet area of Richfield entitled "Lyndale-Hub-Nicollet
Commercial Improvement Program" (The 11Plan"); and
WHEREAS, the City Council of Richfield, Minnesota (the
"City") did on November 24, 1975 approve the Plan; and
WHEREAS, it as been determined pursuant to and in
furtherance of the Plan that. the acquisition of certain real
property is necessary, said real property being described
as follows:
~_ That part of Government Lot 1, Section 27, Tract 28,
Range 24, described as beginning at a point of the South
line of said Government Lot 1 distance 64.8 feet East from
the Southwest corner of said Government Lot l; thence East
along said South line a distance of 88 feet; thence North,
parallel with the West line of said Government Lot 1 and
its extension North, to the Southerly line of Registered
Land Survey No. 1318, Files of the Registrar of Titles,
County of Hennepin; thence Southwesterly along the Southerly
line of said Registered Land Survey No. 1318 to it
intersection with a line drawn North, parallel with the
West line of said Government Lot 1 and its. extension North,
from the. point of beginning; thence South along the ~.ast
described line to the point of beginning. That the East
boundary line of said tract has been judicially deter-
mined and Judicial Landmarks set pursuant to Torrens Case
No. 17641 (732 West 66th Street); and
WHEREAS, the HRA has caused appraisals of this subject
property to be made and has carefully considered such appraisals;
and recommends establishing just compensation at $135,000; and
WHEREAS, a purchase agreement has been executed subject
to the HRA board approval; and
WHEREAS, funds to provide for the purchase of this property
will be available from the Bonds of 1982.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority of Richfield, Minnesota:
1. that $135,000 is determined to be just compensation
for the subject real property; and
2. that the monies for the purchase of this property are.
to be made available from the proceeds of the Bonds of 1982; and
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3. that the Executive Director be, and hereby authorized
to execute, as an agent of the Richfield Housing and Redevelop-
ment Authority, the Purchase Agreement for the purchase of
said real estate.
Passed by the Housing and Redevelopment Authority of
Richfield this 1Sth day ~of Parch, 1982.
omas E . harms , Chairman
Michael Freeman, Secretary
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