1996-59112
HRA RESOLUTION N0.591
RESOLUTION ESTABLISHING JUST COMPENSATION
AUTHORIZING PURCHASE OF REAL PROPERTY
6601 BLOOMINGTON AVENUE
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Richfield (HRA) desires to purchase certain real property pursuant to and in furtherance
of the East 66th Street Redevelopment Project Area Plan (Plan) adopted by the HRA.
Said real property being described as follows:
The North 250 feet of the West 1/4 of the Northwest 1/4 of the Northeast 1/4 of
the Southeast 1/4 of Section 26, Township 28, Range 24, except streets,
Hennepin County, Minnesota; and
WHEREAS, the implementation of the Plan necessitates the purchase of real
property; and
WHEREAS, the HRA is authorized by Minnesota Statutes to acquire real
property for redevelopment project purposes; and
WHEREAS, funding for the purchase of this property will be from the
development fund; and
WHEREAS, the HRA has caused appraisals of the subject property to be made
by qualified, independent, professional real estate appraisers to determine fair market
value.
NOW, THEREFORE, BE IT RESOLVED by the Housing And Redevelopment
Authority in and for the City of Richfield, Minnesota as follows:
1. That just compensation is set at $138,500.
2. That the Executive Director and Chairperson are authorized to execute a
chase agreement for the amount of the just compensation set forth in this
resolution and other documents as necessary to effectuate a purchase.
Adopted by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of June, 1996.
Thomas E. Harms, Chair
ATTEST:
'-,
-JZ-~~
Vem Luettinger, Secretary