1995-553123
HRA RESOLUTION N0.553
RESOLUTION ACCEPTING PURCHASE AGREEMENTS AND DIRECTING
APPROVAL OF SAME (HAMPTON PLACE, CRESTWOOD, HERITAGE SQUARE
EAST)
WHEREAS, pursuant to authority granted to it by special law of the 1995
Minnesota Legislature (the "Act"), the HRA has participated in the creation of three non-
profit corporations ("Corporations) each of which will own, manage and operate one of
the following apartment communities in the City of Richfield:
1. Hampton Place
2. Crestwood
3. Heritage Square East; and
WHEREAS, pursuant to the Act, the HRA is empowered to direct the activities of
such Corporations.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority in and for the City of Richfield as follows:
1. That the proposed purchase agreements and each of them are hereby
accepted.
2. That each Corporation, upon formation, is hereby directed to approve the
purchase agreement pertaining to it and to carry out all acts and do all things necessary
to consummate the transaction.
3. That the Executive Director and Commission Chairperson of the HRA are
directed to take all actions and do all things required to effectuate the provisions of this
resolution.
Adopted by the Housing and Redevelopment Auth ity in and for the City of
Richfield, Minnesota this 17th day of July,1995.
homas E. Harms, Chair
ATTEST:
Vern Luettinger, Secretary