1991-415177
HRA RESOLUTION' N0. 415
RESOLUTION AUTSORIZING THE SECURING OF
FUNDS AND RELATED ACTIVITIES TO REHABILITATE
6318 NICOLLET AVENUE
WHEREAS, the HRA has acquired the property located at 6318
Nicollet Avenue; and
WHEREAS, a rehabilitation concept has been developed which
will provide a first time home buyer ownership opportunity; and
WHEREAS, in support of rehabilitation and in cooperation
with the South Hennepin Vocational Technical College, the
Richfield HRA and the Metropolitan Financial Mortgage Corporation
are each contributing $20,000; and
WHEREAS, the Metropolitan Financial .Mortgage Corporation has
submitted a request to the Federal Home Loan Bank of Des Moines
to secure the contribution of $20,000; and
WHEREAS, the Richfield HRA has considered the rehabilitation
and funding amount.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority of Richfield, Minnesota:
The Chair and Executive Director are authorized to take
those actions.necessary to effectuate the rehabilitation concept
for 6318 Nicollet Avenue, in cooperation with Metropolitan
Financial Mortgage Corporation and South Hennepin Vocational
Technical College and to provide the HRA portion of the funding
from the Expanded New Home Program Fund.
Passed by the Housing and Redevelopment Autha this 15th day o April, 1991.
~~
homas E. Harms, Chair
ATTEST:
J an Helmberger, Se retary
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