1995-566136
HRA RESOLUTION NO. 566
1
RESOLUTION AUTHORIZING SALE OF REAL PROPERTY LOCATED AT
7021 NICOLLET AVENUE AND 7537 GIRARD AVENUE
WHEREAS, the Housing and Redevelopment Authority (HRA) owns certain real
property located at 7021 Nicollet Avenue, legally described as attached; and 7537
Girard Avenue, legally described as Lot 15, Block 19, Irwin Shores Addition; and
WHEREAS, the HRA acquired the properties so that Hennepin Technical
College (HTC) could construct two new single family homes to be sold by the HRA to
moderate income families; and
WHEREAS, the Bright and Elrashidi families have been identified as qualified
purchasers for 7021 Nicollet and 7537 Girard Avenues, respectively; and
WHEREAS, the conditions of sale include a total sales price of $105,000 per
property; a first mortgage each of $85,500 payable to the lender; a Nen of $45,000 per
property, payable to the HRA and $4,500 downpayment per property; and
WHEREAS, the sale of 7021 Nicollet and 7537 Girard Avenues may be
authorized by the HRA following a public hearing which considers the disposition of the
properties; 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 properties at 7021 Nicollet
and 7537 Girard Avenues occurs as presented herein.
Adopted by the Housing and Redevelopment Au rity in and for the City of
Richfield, Minnesota this 20th day of November, 19~ ~
Thomas E. Harms,
ATTEST:
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Vem Luettinger, Secre ~