1993-46838
HRA RESOLUTION NO.. 468
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING SALE OF REAL
PROPERTY LOCATED AT
7528 CdLFAX AVENUE SOUTH
WHEREAS, the Housing and Redevelopment Authority (HRA, owns
certain real property located at 7528 Colfax Avenue, legally
described as: Lot 8 and South 3 feet of Lot 7, Block 22, "Irwin
Shores Addn.; and
WHEREAS, the HRA acquired the property so that the South
Hennepin Vocational Technical College (Vo-Tech) could construct a
new single family home at 7528 Colfax Avenue, to be sold by the
HRA to a moderate income family; and
WHEREAS, construction work is completed; and
WHEREAS, the Huspeni family has been identified as qualified
purchasers for 7528 Colfax Avenue; and
WHEREAS, the conditions of sale include a total sales price
of $110,000, a first mortgage of 581,000 payable to the lender, a
lien of 524,000 payable to the HRA, and a $5,000 downpayment; and
WHEREAS, the sale of 7528 Colfax Avenue may be authorized by
the HRA following a public hearing which considers the
disposition of the property; and
WHEREAS, 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 so that the disposition of HRA owned property at 7528
Colfax Avenue occurs as presented herein.
Passed by the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota this h day of Jan ary, 1993.
:, ~ .
~~ ~,
homas E. Harms, Ch on
ATTES
Larry Wozniczka, ecretary