1991-417179
HRA RESOLUTION N0. 417
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION ESTABLISHING APPROVED APPRAISAL OF
VALUE FOR CERTAIN REAL PROPERTY; LYNDALE-HUH-NICOLLET
IMPROVEMENT PROJECT
WHEREAS, the Housing and Redevelopment Authority of
Richfield, Minnesota (HRA) did on October 15, 1975, approve a
redevelopment plan for an urban renewal project for the Lyndale-
Hub-Nicollet Commercial Improvement Program (the Plan); and
WHEREAS, the City Council of the City of Richfield,
Minnesota did on November 24, 1975 approve the Plan; and
WHEREAS, the Plan has subsequently been amended including
Modification No. 6 (Modification) which modification was reviewed
by the Planning Commission and approved by the HRA and City
Council; and
WHEREAS, the Modification identifies certain property for
acquisition by various means including eminent domain to carry
out the purposes of the Plan; and •
WHEREAS, the monies for the purchase of property are
available from the Lyndale-Hub-Nicollet Improvement Project,
Bradley Real Estate Trust and the Levine interests; and
WHEREAS, the HRA sought advice and comment from competent
appraisers; and
WHEREAS, the HRA recommends establishing Approved Appraisal
of Value for the following interests:
224 West 66th Street, land and buildings $180,000
6530 Pillsbury. Avenue, residual leasehold
interest of J. Brooks Hauser $25,000
6520 Pillsbury Avenue, Snyder's Drug
Store leasehold interest $77,000
• NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. The values listed above for each of the interests
are•established as•the Approved Appraisals of Value.
2. The Chair and Executive Director are authorized and directed
to execute the appropriate documents.
HRA Resolution No. 417
$age: 2
Passed by the Housing and Red v pment Authority this 10th
day of June, 1991.
,~~`/` ~ ,
omas E. Harms, Chair
ATTEST:
J n Helmberger, Secr tary
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