1997-63758
HRA RESOLUTION N0.637
RESOLUTION AUTHORIZING EXECUTION OF A CONTRACT WITH
HENNEPIN TECHNICAL COLLEGE (HTC) FOR DEVELOPMENT
OF 7520 PORTLAND AVENUE
WHEREAS, on June 20, 1997, the HRA purchased the property at 7520
Portland Avenue, legally described as:
The East 165.8 feet of South 75 feet of North 342.8 feet of East 1/2 of Southeast
1/4 of Northeast 1/4 of Southeast 1/4 except road of Section 34 Township 028
Range 24; and
WHEREAS, a project has been proposed as a cooperative effort between the
HRA and HTC; and
WHEREAS, the property at 7520 Portland Avenue would be developed with a
new single family home and two car garage; and
WHEREAS, the cost for constructing a new home and garage in accordance
with the plans and specifications is expected to cost $88,000, subject to finalizing the
cost of lumber; and
WHEREAS, following completion of construction the property will be sold to a
modest income, first time buying family.
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 enter into a Construction Agreement with HTC for
an amount not to exceed $88,000 with an adjustment permitted should lumber costs be
higher than expected for the construction of a new home and garage at 7520 Portland
Avenue.
Adopted by the Housing and Redevelopment ority in and for the City of
Richfield, Minnesota this 21st day of July, 1997.
Thomas E. Harms, Chair
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ichael Bahl, Secretary