1996-59617
HRA RESOLUTION N0.596
RESOLUTION AUTHORIZING PURCHASE
OF REAL PROPERTY LOCATED AT:
7001 SHERIDAN AVENUE
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 Program Redevelopment Project (Project)
heretofore adopted by the City of Richfield (City) and the HRA, said real property being
described as follows:
Lot 7, Sabin Lake Harriet Garden Lots,
That part lying North of South 130 feet and including that portion of adjacent
streets and alleys that have been or are planned to be vacated, Hennepin
County
WHEREAS, the HRA is authorized by Minnesota Statutes Section 469.012 to
acquire real property within its area of operations; and
WHEREAS, the property meets all program requirements for acquisition; and
WHEREAS, the HRA has caused an appraisal of the subject property to be
made by a qualified independent professional real estate appraiser and has negotiated
a purchase price with the owner of $90,000 based on the appraised value; and
WHEREAS, funds have been provided by the HRA and are available for
acquisition; and
WHEREAS, the purchase is contingent on City approval of a subdivision waiver
which provides two buildable lots.
NOW, THEREFORE, BE IT RESOLVED by the Richfield Housing and
Redevelopment Authority:
1. That the approved purchase price is $90,000, contingent on City approval of a
subdivision waiver to divide the referenced lot into two parcels.
2. The Chairperson 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 Redevelopment Authority in and for the City of
Richfield, Minnesota this 19th day of August, 1996.
Thomas E. Harms, Chair
ATTEST:
f'
Vern Luettinger, Secret