1988-31980
RESOLUTION N0. 319
The Housing and Redevelopment Authority In
end For the City of Richfield, Minnesota
Resolution Relating to the Sale of Certain
Land Located Mithin The Cedar Avenue Business
Ares Redevelopment Project
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota (the "HRA") has adopted ~ ~~
redevelopment plan (the "Redevelopment Plan") for the Cedar
Avenue Business Area Redevelopment Project (the "Redevelopment
Project"); and
MHEREAS, the Redevelopment Plan designates certain lands
within the Redevelopment Project for acquisition and
redevelopment including lands described as follows:
Lots 1 through 10, inclusive, Block 1 Wexler's
Addition, Hennepin County, Minnesota, together
with all that part of the north one-half of
adjoining vacated or to-be-vacated East 67th Street,
and together with all that part of ad3oining
vacated or to-be-vacated Cedar Avenue South.
MHEREAS, Minnesota Statutes, Section 462.356 require the
Planning Commission's finding as to the conformance of the
proposed sale with the Comprehensive Plan; and
MHEREAS, The Lincoln Companies (the"Developer") and the HRA
entered into a Contract for The Sale of Land For Private
Development(the "Contract") on the date hereof; and
MHEREAS, the Developer has offered and proposed to purchase
the subject property at a cost of Three Hundred Eighteen Thousand
and no/100 Dollars ($318,000) and for additional terms as
contained in the Contract; and
MHEREAS, pursuant to due notice thereof, a public hearing
was held on the proposed sale of the sub~~ct property to the
Developer and all interested persons had an opportunity to be
heard.
NOM, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota, as follows:
1. That the finding of the Planning Commission regarding the
sale of this property is acknowledged. -
.2. The sale of the subject property is consistent with and
necessary for the redevelopment provided for in the Redevelopment
Plan.
3. The use value of the subject property within th:e meaning of
Minnesota Statutes, Section 469.032, is Three Hundred Eighteen
Thousand Dollars.
4. The sale of the property is consistent with and necessary for
the Developer to implement the Contract.
5. Tfie HRA Executive Director is authorized and directed to.
execute agreements with the Developer for and on behalf of the
HRA, which provide for the sale of the subject property at a'
price of Three Hundred Eighteen Thousand Oollars.
Adopted by the Housing and Redevelopment Authority in and
for the City of Richfield, Minnesota t 16th dsy of February,
1988.
c
~ G' "vim
omas E. Harms, Chairman
ATTEST:
Jo. n' Ne mberger, Secre ry
1
~_ --~