1992-44717
RESOLUTION NO. 447
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING SALE OF REAL
PROPERTY LOCATED AT
6321 MORGAN AVENUE
WHEREAS, the Housing and Redevelopment Authority (HRA), owns
certain real property located at 6321 Morgan Avenue, legally
described as:
Lot 19 and the N. 20 feet of Lot 18, Block 9, "Ray's
Lynnhurst Addition", Hennepin County
WHEREAS, the HRA acquired the property so that the South
Hennepin Vocational Technical College (Vo-Tech) could construct a
new single family home at 6321 Morgan Avenue, to be sold by the
HRA to a moderate income family; and
WHEREAS, construction work is nearing completion; and
WHEREAS, the Beggs family has been identified as qualified
purchasers for 6321 Morgan Avenue; and
WHEREAS, the conditions of sale include a total sales price
of 5110,000, a first mortgage of 580,000 payable to the lender, a
lien of $25,000 payable to the HRA, and a $5,000 downpayment; and
WHEREAS, the sale of 6321 Morgan Avenue may be authorized by
the HRA following a public hearing which considers the
disposition of the property; and
47HEREAS, that hearing has been held following proper
publication of notice.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Richfield,
Minnesota that the HRA Chairperson and Executive Director are
authorized to execute the purchase agreement and other required
documents to that the disposition of HRA owned property at 6321
Morgan Avenue occurs as presented herein.
Passed by the Housing and Redevel '~~t Authority in and for
the City of Richfield, Minnesota this~'20' day of Apr 1, 1992.
T omas E. Harms, Chairperson
ATTEST:
Jgan Helmberger, Secre ary
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