1991-426HRA RESOLUTION N0. 426
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION ESTABLISHING JUST COMPENSATION AND AUTHORIZING
PURCHASE OF REAL PROPERTY LOCATED AT
7639 EMERSON AVENUE
WHEREAS, the Richfield Housing and Redevelopment Authority
(HRA) desires to purchase certain real property pursuant to and
in furtherance of the ILN Redevelopment Project (Project)
heretofore adopted by the City of Richfield (City) and the HRA,
said real properties being described as follows:
N 75 feet of S 160 feet of W 1/2 of E 1/2 of NE 1/4 of SW 1/4 of
SE 1/4 except street (33 028 24).
WHEREAS, the HRA in and for the City of Richfield, is
authorized by Minnesota Statues Section 469.012 to acquire real
property within its area of operations; and
WHEREAS, the Project identifies the location of this
property as the site for public improvements to be constructed by
the City; and
WHEREAS, the HRA is acquiring these properties on behalf of
the City to permit the installation of public improvements; and
WHEREAS, the HRA has caused appraisals of the subject
properties to be made by a qualified independent professional
real estate appraiser to determine its fair market value; and
WHEREAS, a Certified Review Appraiser has reviewed the
appraisal report, and has prepared a written report setting forth
his opinion as to £air market value; and
WHEREAS, the funds are available from the Municipal State
Aid (MSA) made available by the State to the City.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. That dust compensation is determined to be $73,000.
2. That the Executive Director is authorized and directed to
commence negotiations for the purchase of said real property.
3. That the Chair and Executive Director are authorized to
execute a Purchase Agreement for the amount of dust
compensation set forth in this resolution.
4. That the Executive Director is hereby directed to notify in
writing the owners of subject properties as soon as possible
that the HRA intends to acquire his/her property.
5. That the conveyance of title to said real properties to the
City at the appropriate time is her by authorized.
Passed by the Housing and Re~~ a pment Auth~ i y this 15h
day of July, 1991.
~~z~~
Thomas E. Harms, Chairperson
ATTEST:
an Helmberger, Secr tary
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