1986-28747
HRA RESOLUTION N0. 287
RESOLUTION AUTHORIZING MODIFICATIONS TO
THE RENTAL AGREEMENT_AND FINANCIAL
WHEREAS, the Housing and Redevelopment Authority (HRA) in
and for the City of Richfield has .considered the status of the
rental and sale of 920 West 66th Street; and
WHEREAS, the HRA has determined that it is appropriate to
modify the Rental Agreement with the Louris Family and provide
financial assistance in completing the sale to this buyer.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and
Redevelopmentâ˘Authority in and for the City o_f Richfield,
Minnesota:
1. That the Acting Executive Director is authorized to
execute amendments to the Rental Agreement with the
Louris family, reducing the monthly rents for 920 West
66th Street to $1 starting in September and continuing
until closing occurs.
1
f
2. That the Chairperson and Acting Executive Director are
authorized to effectuate the sale of 920 West 66th
Street by reducing the initial sale price of $60,000 to
approximately 58,500; reducing the maximum mortgage
amount of $55,000 to approximately 53,500; and
increasing the second mortgage by the same adjustment.
Passed by the Housing
for the City of Richfield,
ATTEST:
and Redevelopment Authority in and
this 8th day of August, 1986.
T omas E. Harms, Chairperson
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oan Helmberger, cretary