1982-20279
HRA RESOLUTION N0. 202
RESOLUTION AUTHORIZING THE ACQUISITION
OF REAL PROPERTY LOCATED AT 6633 LAKE
SHORE DRIVE
WHEREAS, the Housing and Redevelopment Authority' in and for
the City of Richfield, {HRA), is authorized by Minnesota Statutes
1982, Section 46~2.445,to acquire real property within its area of
operation; and
WHEREAS, the HRA has heretofore entered into a Contract for
the Sale of Land for Private Development for the construction of
the Lake Share Drive Condominiums; and
WHEREAS, the HRA agreed in the contract to use its best
efforts to acquire certain lands adjacent to the main site includ-
ing the subject property for sale to the developer and inclusion
within the project;-and
WHEREAS, the HRA's undertaking to seek acquisition of the
property and sale to the developer was based upon the importance
of those properties to the success of the redevelopment project
and to the elimination of potentially incompatable land uses and
was consistent with the health, welfare and safety of the commun-
ity; and
WHEREAS, the developer has informed the HRA-that it con-
tinues to seek the subject property for inclusion within its
project site; and
WHEREAS, the owners of the property "located at 6633 Lake
Shore Drive and situated upon land legally described as:
Lot 1'I, Block 3, Fairwood Shores
have expressed a willingness to sell their property to the HRA;
and '
WHEREAS, the HRA has caused appraisals of the property to be
made and has authorized the commencement of negotiations for the
purchase of the property and has carefully considered the results
of the negotiations; and
WHEREAS, the purchase price for such land will be from funds
presently in the HRA General Fund and by a gift of money from the
developer, receipt of which is authorized by Minnesota Statutes
1982, Section 462.445;
NOW THEREFORE, BE IT RESOLVED by the Housing and Redevelop-
ment Authority in and for the City of Richfield as follows:
1. The property located at 6633 Lake Shore Drive is appro-
priate for acquisition by the HRA in the furtherance of its powers
and duties.
2. The Executive Director is directed to execute the
purchase agreement for the above. property for $93,900, contingent
upon .the receipt of a gift of $4,000 from Knutson Construction
Company, Inc. at least 48 hours prior to the closing date and
execution by Knutson Construction Company, Inc. of an agreement
to purchase the property from the HRA on or before October 15,
1982, for an additional $8,200.
3. That the HRA portion of the purchase price ($89,900
is to be provided by the General Fund and the resale revenues are
to .be credited to the same fund.
4. That the resale and removal of the structures from the
property is authorized.
Passed by the Housing and Redevelopment Authority of Richfield
this 19th day of July, 1982.
omas E~. Ha s, Chairman
ATTEST:
D.
M~.chael O. Freeman, Secretary
C