1983-227104
HRA RESOLUTION N0. 227
RESOLUTION AUTHORIZING SALE OF PROPERTY
AT 6822 QUEEN AVENUE SOUTH
WHEREAS, the Housing and Redevelopment Authority of
Richfield, Minnesota (hereinafter referred to as the IiRA} owns
certain real property located at 6822 Queen Avenue South, said
property legally described as follows:
Lot 6, Block 2
Tingdale Bros. Lincoln Hills Third Addition
Hennepin County; and
WHEREAS, the property was acquired by the HRA so that
the South Hennepin Vocational Technical Center (Vo-Tech) could
relocate and rehabilitate a house on the site and the HRA
could subsequently sell the home to a moderate income family;
and
WHEREAS, the rehabilitation work is completed and dispo-
sition of the property would allow 'for the timely payment of
the Vo-Tech contract; and
WHEREAS, as the result of advertising., and in cooperation
with the lender, a qualified purchaser for 6822_.Queen.Avenue
South has. been selected and it is likely that they will be
found eligible by FHA or MHFA; and
WHEREAS, a purchase agreement must be authorized by the
HRA; and
WHEREAS, the conditions of sale include an initial sales
price of $55,000, a $5,000 downpayment, a mortgage amount of
$50,000, and provisions for a second mortgage of $22,500; and
WHEREAS, the purchaser will also be subject to any
requirements imposed by FHA or MHFA; and
WHEREAS, the HRA has completed a public hearing on the
proposed disposition of 6822 Queen Avenue South.
NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING AND
REDEVELOPMENT AUTHORITY OF RICHFIELD, MINNESOTA:
1} that the property located at 6822 Queen Avenue South
can be sold in accordance with the conditions of sale; and
2) that the Acting Executive Director and staff are
authorized to ta}ce such steps necessary to effectuate this
resolution and any sales agreement.
Passed by the Housing and Redevelopment Authority of
Richfield this 15th day of August, 1983.
2~ ~.
homas E. Harms, airman-
J~'an Helmberger, Secre ary
l._
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