1995-562132
HRA RESOLUTION N0.562
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING SALE OF REAL PROPERTY LOCATED AT
7112 FIRST AVENUE
WHEREAS, the Housing and Redevelopment Authority (HRA), owns certain real
property located at 7112 First Avenue, legally described as Lot 4, Block 2, Sheldon
Blair's Woodale Fourth Addition; and
WHEREAS, the HRA acquired the property so that South Hennepin Technical
College (HTC) could construct a new single family home at 7112 First Avenue, to be
sold by the HRA to a moderate income family; and
WHEREAS, the Tran family has been identified as qualified purchasers for 7112
First Avenue; and
WHEREAS the conditions of sale include a total sales price of $115,000; a first
mortgage of $77,000 payable to the lender; a lien of $25,000 payable to the HRA and
$13,500 downpayment; and
WHEREAS, the sale of 7112 First 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 7112 First
Avenue occurs as presented herein.
Adopted by the Housing and Redevelopment
Richfield, Minnesota this 9th day of October, 1995.
ATT~ST:
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Vern Luettinger, Secretary
in and for the City of