1993-47949
RESOLUTION NO. 479
RESOLUTION AUTHORIZING THE SALE OF REAL
PROPERTY LOCATED AT 6500 JAMES AVENUE
TO QUAM, SUMNICHT AND ASSOCIATES INC. IN ACCORDANCE WITH
A DEVELOPMENT AGREEMENT
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota (HRA) desires to develop certain
real property pursuant to and in furtherance of the
Transformation housing element of the Development Fund as adopted
by the HRA, said real property being described as follows:
6500 James Avenue, Lot 1, Block 12, Fairwood Park First
Addition, Hennepin County.
WHEREAS, the HRA is authorized to sell real property within
its area of operation after public hearing; and
WHEREAS, a developer, Quam, Sumnicht, and Associates has
been identified as the purchaser of the described property, in
accordance with a development agreement; and
WHEREAS, the public hearing has been held after proper
public notice.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. A public hearing has been held and 6500 James Avenue is
authorized to be sold to Quam, Sumnicht, and Associates in
accordance with a development agreement with the HRA.
2. The purchase price for 6500 James Avenue is $45,700.
3. That the Chairperson and Executive Director are authorized to
execute the Development Agreement and other agreements as
required to effectuate the sale to Quam, Sumnicht and
Associates.
Adopted by the Housing and Redevelop nt Authority in and for
the City of Richfield, Minnesota thi h day of Augu t, 1993.
s
as E. Harms, Chair
ATTEST:
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Larry Wozn zka, Secretary