1994-52696
HRA RESOLUTION N0. 52f
RESOLUTION AUTHORIZING PURCHASE OF REAL
PROPERTY LOCATED AT 7424 FIFTH AVENUE
1
WHEREAS, the Housing and Redevelopment Authority in and for
the City of Richfield, Minnesota (HRA) desires to purchase
certain real property pursuant to and in furtherance of the
Richfield Rediscovered Transformation Program heretofore adopted
by the HRA, said real property being described as follows:
7424 Fifth: The East 1/2 of the South 59.45 ft of the North
446.15 ft. of the West 1/2 of the Northeast 1/4 of
the Northeast 1/4 of the Southeast 1/4, except road;
Hennepin County.
WHEREAS, the HRA is authorized by Minnesota Statutes Section
469.012 to acquire real property within its area of operation;
and
WHEREAS, the property meets program requirements for
acquisition; and
WHEREAS, the HRA has caused appraisals of the subject
property to be made by a qualified independent professional real
estate appraiser and has negotiated a purchase price with the
owners based on the stated value; and
WHEREAS, funds have been provided by the HRA and are
available for acquisition; and
WHEREAS, the property would be sold to a qualified developer
for a value added remodeling project after a public hearing.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. That purchase price is approved at the appraisal value of
$67,000.
2. That the Chair and Executive Director are authorized to
execute a Purchase Agreement and other documents to
effectuate purchase for the amount set forth in this
resolution.
Adopted by the Housing and
for the City of Richfield, Minn
1994.
-,
ATTEST : ' ,
a
ern Luettinger, S etary
pment Authority in and
s 17th day f October,
~~~
E. Harms, Chairperson