1983-22299
RESOLUTION N0. 222
RESOLUTION OF THE HOUSING AND REDEVELOPMENT AUTHORITY
OF RICHFIELD, MINNESOTA,
APPROVING MODIFICATION•N0. 4 IN THE LYNDALE/HUB/NICOLLET
COM~iERCTAL IMPROVEMENT PROGRAM 6545 NTCOLLET AVENUE
AND AUTHORIZING THE ACQUISITION OP' SAID PROPERTY
WHEREAS, the Housing and Redevelopment Authority of Richfield, Minnesota
(HRA} did on October 15, 1975, approve a redevelopment plan for an urban renewal
project for the "Lyndale/Hub/Nicollet Commercial Improvement Program" (the "Plan");
and
WHEREAS, the City Council of Richfield, Minnesota did on November 24, 1925,
approve the Plan; and
WHEREAS, the Plan has subsequently been amended; and
WHEREAS, the Plan designated certain properties for acquisition by the HRA;
and
WHEREAS, it has-been determined that the acquisition of certain additional
property described in Attachment A is necessary to implement the Plan and to carry
out the purposes of the Plan; and
WHEREAS, the acquisition of said property as a part of the Plan will not
alter or affect the exterior boundaries of the redevelopment Project area; and
WHEREAS, the acquisition of said property will not alter or affect the
general land uses established in the Plan; and
WHEREAS; Minnesota Statutes 462.35& require the Planning Commission's finding
as to the conformance of the proposed purchase with the Comprehensive Plan; and
WHEREAS, the monies for the purchase of this property are available in
the CP 705 and L/H/N capital funds; and
WHEREAS, the HRA has caused appraisals of the subject property to be made
and has carefully considered such appraisals, and recommends establishing just
compensation at $180,000.
Resolution No. 222, Page 2
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and Redevelopment
Authority that:
1. The receipt of the opinion of the Planning Commission with
regard to the proposed purchase of this property is acknowledged.
2. The Plan is hereby modified by adding thereto as property designated
for acquisition the land described in Attachment A.
3. That $1$0,000 is determined to be just compensation for the subject
real property.
4. That the monies required from the HRA for the purchase of this
property are to be made available from the L/H/N capital fund
at no interest.
5. That the purchase occur after the execution of a development
agreement between the developer and the HRA.
6. That the Acting Executive Director be, and hereby is authorized
to execute, as an agent of the Richfield Housing and Redevelopment
Authority, the Purchase Agreement for the purchase of such real
estate.
Passed by the Housing and Redevelopment Authority of the City of Richfield
this 20th day of June, 1983.
omas E. Harms Chairman
ATTEST:
1
'oan Helmberger Secretary
Attachment A
Legal Description:
The property is legally described as follows: Lot 7, except
the North 49 feet thereof anal Lot 8, except the North 49 feet
and less~the East 16.06 feet, Block 9, Towns Edge Addition,
plus an access easement over a triangular plot of land
adjoining the above described premises described as follows:
Beginning at a point in the West line of Lot 7, 76 feet North
of the Southwest corner of Lot 7, Block 9, said Towns Edge
Addition, thence running North 49 feet along the West line of
said Lot 7, thence Southeasterly to a point in the North. line
of the South.76 feet of said Lot 7, which. point is 56..66 feet
East of the West line of said Lot 7, thence West along the
North line of the South 76 feet of said Lot 7 to the point of
beginning, Hennepin County, Minnesota.