1991-416178
HRA RESOLUTION NO. 416
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 AND
APPROVING CONTRACT FOR PRIVATE DEVELOPMENT
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield., Minnesota (HRA) desires to redevelop
certain real property pursuant to and in furtherance of the
"Lyndale/Hub/Nicollet Commercial Improvement Program", heretofore
adopted by the City of Richfield (City) and the HRA, said real
property being described as follows:
Parcel Identification
Address: 224 West 66th Street
PIN No.: 27-028-24-24-0009
Legal Description
The South 183 feet of the East 47.9 feet of the West 72.9
feet of the Southeast Quarter (SE 1/4) of the Northwest Quarter
(NW 1/4), except road, Section 27, Township 28, Range 24.
Parcel Identification
Address: Vacated Pleasant Avenue Right-of-Way, immediately
south of West 65th Street and west of U.S. Swim & Fitness.
Legal Description
All that part of the SE 1/4 of the NW 1/4 of Section 27,
Township 28, Range 24, Hennepin County described as follows:
Beginning at the most northerly northwest corner of Lot 3,
Block 1, Richfield Hub Superblock as platted and of record in the
office of the County Recorder; thence South 00 degrees-20'-18"
West, assumed bearing, along the westerly line of said Lot 3, a
distance of 142.11 feet; thence South 89 degrees 56'-52" West, a
distance of 30.00 feet, to the most westerly line of said Lot 3;
thence North 00 degrees 20'-18" East along the northerly
extension of said most westerly line, a distance of 142.11 feet,
to the westerly extension of the most northerly line of said Lot
3; thence along said westerly extension 30.00 feet to the point
of beginning.
Parcel Identification
Address: Aland area immediately adjacent to the west side
of the loading facility for Hauser's IGA referred to as 6530
Pillsbury Avenue.
Legal Description
HRA Resolution No. 416
Paqe 2
That part of the SE 1/4 of the NW 1/4 of Section 27,
Township 28, Range 24, Hennepin County, described as follows:
Commencing at the intersection of the southerly extension of
the westerly line of Lot 3, Block 1, Richfield Hub Superblock, as
platted and of .record in the office of the County Recorder and
the southerly line of said SE 1/4 of the NW 1/4; thence North 0
degrees 20'-18" East along said southerly extension a distance of
183.00 feet to the most westerly-southwest corner of said Lot 3;
thence North 89 degrees 59'-52" East along the southerly line of
said Lot 3 a distance of 37.24 feet to the intersection with a
line drawn parallel with and 72.90 f®et easterly of as measured
perpendicular to the westerly line of said SE 1/4 of the NW 1/4
said intersection being the actual point of beginning; thence
continue North 89 degrees 59'-52" East a distance of 10.89 feet
to a westerly line of said Lot 3; thence South 0 degrees 25'-38"
West along said westerly line to the north line of the south
150.00 feet of said SE 1/4 of the NW 1/4; thence westerly along
said north line of the south 150.00 feet to said line drawn
parallel with and 72.90 feet easterly of said westerly line of
said SE 1/4 of the NW 1/4; thence northerly along said parallel
line. to the point of beginning.
WHEREAS, the HRA is authorized to s@11 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 a proposed Contract for Private Development
to be entered into between the parties; and,
WHEREAS, the Contract for Private Development has been
formulated and considered by the BRA; and
WHEREAS, the public hearing for the sale of property has
been held after proper public notice; and,
NOW, THEREFORE, BE I~ RESOLVED by the Richfield Housing and
Redevelopment Authority as follows:
(1) The Contract for Private Development is conditionally
approved and the Executive Director and Chairperson are directed
to execute and enter into the contract and related documents up
on the Executive Director being satisfied that the following
conditions precedent have been met.
a. Provided the final form of the Contract for Private
Development is in substantially the same form as
presented to the BRA.
b. The parties have agreed on the dollar amounts to be
contained in Sections 3.7(03) and 3.9 of the Contract
and the Assessment Agreement.
c. Bradley has reviewed .and approved the commitment
for title insurance covering the Bradley parcel.
HRA Resolution No. 416 Page 3
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(2) The described real property is authorized to be sold to
Bradley Real Estate Trust in accordance with the Contract for
Private Development.
Adopted by the Housing and R lopment Authority in and
for the City of Richfield, Minne,o this 10th a of June, 1991.
T as E. Harms, Chairperson
AT ST:
J Helmberger, S retary