1989-358120
RESOLUTION NO. 358
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION ESTABLISHING JUST COMPENSATION AND
AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT
7644 ALDRICH AVENUE
7644 BRYANT AVENUE
7645 DUPONT AVENUE
7612 EMERSON AVENUE
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota (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, Lundberg and Carlson Addition (7644 Aldrich Avenue);
Lot 8, Lovo Addition (7644 Bryant Avenue);
That part of the West 1/4 of Northwest 1/4 of the Southeast 1/4
of Southeast 1/4 lying South of the North 558 (7645 Dupont
Avenue);
The South 50-1/2 feet of the North 212 feet of the East 1/2 of
the West 1/2 of the Northeast 1/4 of the Southwest 1/4 of the
Southeast 1/4 (7612 Emerson Avenue)
WHEREAS, the HRA~is authorized by Minnesota Statutes Section
469.012 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 to be constructed
by the city; and
WHEREAS, the HRA is acquiring these properties on behalf of
the city to permit the installation of public improvements; 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 Municipal State Aid
(MSA) made available by the state to the city.
, _:
HRA Resolution No. 358
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota, as follows:
1. That dust compensation is determined to be as follows:
7644 Aldrich Avenue $85,000
7644 Bryant Avenue $78,000
7645 Dupont Avenue $92,000
7612 Emerson Avenue $98,000
2. That the Executive Director is authorized and directed to
commence negotiations for the purchase of said real
properties.
3. That the Chairman and Executive Director are authorized
to execute a Purchase Agreement for the amount of dust
compensation set forth in this resolution.
4~. That the Executive Director is hereby directed to notify
in writing the owners of subject properties as soon as
possible that the HRA intends to acquire his/her property.
5. That the conveyance of title to said real properties to
the city at the appropriate time is hereby authorized.
Adopted by the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota this 18th day of September,
1989.
..
homas E. Harms, Chairman
ATTEST:
an Helmberger, Secre ry