1991-412174
HRA RESOLUTION NO. 412
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION RELATING TO THE SALE OF CERTAIN LAND LOCATED WITHIN
THE LYNDALE/HUB/NICOLLET COMMERCIAL IMPROVEMENT
PROJECT AREA
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota (BRA) desires to redevelop
certain real property pursuant to and in furtherance of the
"Lyndale/Hub/Nicollet Commercial Improvement Program" (the
"Plan"), heretofore adopted by the City of Richfield (City) and
the BRA, said real property being described as follows:
Parcel Identification
Address: 6520 Pillsbury Avenue South
PIN No.: 27-028-24-24-0062
Legal Description
Lot 3, Block 1, Richfield~Hub Superblock Hennepin county,
Minnesota.
WHEREAS, the HRA is authorized to sell real property within
its area of operation after public hearing; and,
WHEREAS, a developer, Bradley Real Estate Trust, a
Massachusetts business trust, (Bradley) has been identified as
the purchaser of the described property, in accordance with a
Letter of Intent and subject to a Contract for Private
Development to be entered into between the parties; and,
WHEREAS, the public hearing has been held after proper
public notice; and,
WHEREAS, for purposes of Minn. at. Section 462.356
Subdivision 2., the HRA finds that this proposed disposition has
no relationship to the Comprehensive Municipal Plan.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority that the described real property is sold
to Bradley Real Estate Trust in accordance with a Letter of
Intent subject to a Contract for Private Development to be
entered into between the parties.
Adopted by the Housing and Redevelopment Authority in and
for the City of Richfield, Minnes~ this 22nd d y of January,
1991. ~'
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T omas E. Harms, Chairperson
ATT ST:
e
Jo rie'_mberger, Secr tary