1986-288LJ
1
HRA RESOLUTION N0. 288
RESOLUTION AUTHORIZING SALE OF
PROPERTY AT 924 WEST 66TH STREET
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, (HRA) owns certain real property located
at 924 Vest 66th Street, said property legally described as
follows:
Lot 1, Block 1, Rae 2nd Addition, Hennepin County
WHEREAS, a moderate income purchaser has been identified for
924 West 66th Street and it is likely that the lender and MHFA
will find them eligible; and
down payment assistance available to the purchaser; and
WHEREAS, the conditions of sale include an initial sales
price of $60,000, a $5,000 down payment, a mortgage amount of not
more than $55,000 and provisions for a second mortgage of
approximately $52,900 (depending on the total value determined by
lender appraisal); and
WHEREAS, there are provisions for the HRA to make additional
WHEREAS, the purchaser will also be subject to any
requirements imposed by the lender and MHFA; and
WHEREAS, the HRA has completed a public hearing on the
proposed disposition of 924 West 66th Street and that disposition
is in conformanq.e with the Comprehensive Plan.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota:
1. that the property located at 924 West 66th Street can
be sold in accordance with the conditions of sale; and
2. that the Acting Executive Director and staff are
authorized to take such steps necessary to effectuate
this resolution and any sales agreement.
Passed by the Housing and Redeve opment Authority in and for
the City of Richfield this 18th da o August 1986
ATTEST:
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Thomas E. Harms, Chairperson
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Jd n Helmberger, Se etary
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