1987-30162
HRA RESOLUTION NO. 301
RESOLUTION ESTABLISHING JUST COMPENSATION AND
AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED
AT 7644 AND 7645 GARFIELD AVENUE AND
7644 HARRIET AVENUE
WHEREAS, the Richfield Housing and Redevelopment Authority
(HRA) desires to purchase certain real property pursuant to and
in furtherance of the ILN Redevelopment Project (Project)
heretofore adopted by the City of Richfield (City) and the HRA,
said real properties being described as follows:
Lot 8, Block 7,Sunset Terrace Addn. Henn. Cty., MN(7644 Garfield)
Lot 9, Block 6,Sunset Terrace Addn. Henn. Cty., MN(7645 Garfield)
Lot 8, Block 6,Sunset Terrace Addn. Henn. Cty., MN (7644 Harriet)
WHEREAS, the HRA in and for the City of Richfield, is
authorized by Minnesota Statutes Section 462.445 to acquire real
property within its area of operation; and
WHEREAS, the Project identifies the location of these
properties as the site for public improvements. tp.be constructed
by the city; and
WHEREAS, the HRA has caused appraisals of the subject
properties to be made by a qualified independent professional
real estate appraiser to determine its fair market value; and
WHEREAS, a Certified Review Appraiser has reviewed the
appraisal reports, and has prepared a written report setting
forth his opinion as to fair market value; and
WHEREAS, the funds are available from the sale of the
Temporary Redevelopment Bonds, Series 1985.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority: .
1. That just compensation is determined to be as follows:
7644 Garfield Avenue: $72,000
7645 Garfield Avenue: $75,500
7644 Harriet Avenue: $68,000
2. That the Executive Dir ector is authorized and directed to
commence negotiations for the purchase of said real
properties.
3. That the Chairman and Executive Director are a uthorized
to execute a Purchase Agreement for the amount of just
compensation set forth in this resolution.
4. That the Executive Dir ector is hereby directed to notify
in writing the owners of subject properties as soon as
possible that the HRA intends to acquire his/h er property.
Passed by the Housing and Redev ~pment Author'ty this 18th
day of May, 1987.
Z~ ~ ,.
homas E. Harms, Chairman
ATTEST:
J n Hel Berger, Secreta