1990-400162
HRA RESOLUTION N0. • 400
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN BND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING SALE OF REAL
PROPERTY LOCATED AT
7000 Oakland Avenue South
WHEREAS, the Housing and Redevelopment Authority (HRA), owns
certain real property located at 7000 Oakland Avenue South,
legally described as:
That part of the N. 109.6 ft., of the NW quarter of the NW
quarter of the NW quarter of the NW quarter of Section 35,
Township 28, Range 24, lying east of the west 180 ft. of said NW
quarter.
WHEREAS, the HRA acquired the property so that the South
Hennepin Vocational Technical College (Vo-Tech) could construct a
new single family home at 7000 Oakland Avenue south, to be sold
by the HRA to a moderate income family; and
WHEREAS, construction work is nearing completion; and
WHEREAS, the Cutshall-Swanson family has been identified as
qualified purchasers for 7000 Oakland Avenue South; and
WHEREAS, the conditions of sale include a total sales price
of 599,750, a first mortgage of 574,750 payable to the lender, a
second lien of $20,000 payable to the HRA, and a $5,000
downpayment; and
WHEREAS, the sale of 7000 Oakland Avenue South may be
authorized by the HRA following a public hearing which considers
the disposition of the property; and
WIiEREAS, that hearing has been held following proper
publication of notice.
NOW, THEREFORE BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota that the HRA Chairperson and Executive Director are
authorized to execute the purchase agreement and other required
documents so that the disposition of HRA owned property at 7000
Oakland Avenue South occurs as presented herein.
Passed by the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota th _ 19th day of November, 1990.
` Thomas E. Harms, Chair
ATTEST:
J~ an Helmberger, Secr tary
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