1990-396HRA RESOLUTION NO. 396
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
7645 ALDRICH AVENUE SOUTH
158
WHEREAS, the Richfield Housing and Redevelopment Authority (HRA)
desires to purchase certain real property pursuant to and in
furtherance of the ILN Redevelopment Project (Pro,ject) heretofore
adopted by the City of Richfield (City) and the HRA, said real
properties being described as follows:
Lot 8, Glenn's Addition, County of Hennepin
WHEREAS, the HRA in and for the City of Richfield, 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 this property 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.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. That dust compensation is determined to be $65,000.
2. That the Executive Director is authorized and directed to
commence negotiations for the purchase of said real
property.
3. That the Chairman and Executive Director are authorized to
execute a Purchase Agreement for the amount of ,just
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 appropria ime is hereby aut orized.
Passed by the Housing and Re v opment Auority this 15th day
of October, 1990.
.~~~
omas E. Harms, Chairman
ATTEST:
. ~
Joan Helmberger, Secre ary