88-05 HRA Resolution
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Resolution 88-5
November 1, 1988
Commissioner Thompson introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING THE ACQUISITION BY PURCHASE,
CERTIFYING THE VALUE OF CERTAIN REAL PROPERTY THEREOF
AND APPROVING A PURCHASE AGREEMENT AND SEPARATE AGREEMENT THEREFOR
(ADAMS ASSOCIATES BUILDING - 7711 COUNTRY CLUB DRIVE)
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Golden Valley, Minnesota (the "HRA") has determined that there exists an area in
the City of Golden Valley which is a deteriorated and deteriorating area within
the meaning of Minnesota Statutes, Section 462.421; Subd. 13, and has determined
that it is necessary to initiate a revitalization program in order to eliminate
and prevent the spread of such deterioration; and
WHEREAS, the HRA and the City Council of the City of Golden Valley have
approved the Valley Square Redevelopment Plan to eliminate and prevent the spread
of such deterioration; and
WHEREAS, it is necessary and desirable to acquire the real estate hereinafter
described in order to carry out and implement the plan of revitalization as
defined in said Plan, thereby making the land described therein useful and
valuable for contributing to the public health, safety and welfare; and
WHEREAS, it is necessary and desirable to acquire said lands in order to
eliminate the conditions found to exist in the Plan and to carry out the
redevelopment projects as defined therein; and
WHEREAS, the HRA has had a certain parcel of real property to be acquired
appraised for its fair market value by a qualified independent professional real
estate appraiser, who has completed a written report documenting said value; and
NOW, THEREFORE, BE IT RESOLVED by the HRA as follows:
1. That it approves acquisition of the land described in the attached
Purchase Agreement, that the attached Purchase Agreement is approved and the
Director and Chair are authorized to execute it on behalf of the HRA and take
all actions necessary to carry out its terms.
2. That the attached Separate Agreement in Connection With the Sale of
7711 Country Club Drive regardi ng relocation benefits for Directors Six Partnership
is approved and the Di rector and Chai r are authorized to execute it and take
all actions necessary to carry out its terms.
3. That the HRA hereby certifies the market value of said property to be
$360,000;
BE IT FURTHER RESOLVED that the acquisition of the above-described real
estate is necessary and desirable, and the purposes aforesaid for which said
1 ands are to be acqui red are proper and necessary public purposes.
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Resolution 88-5 - Continued
November 1, 1988
~iUl
Ray B. tockma-n;chair
ATTEST:
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The motion fo of the foregoing resolution was seconded by
Commissioner Jo nson and upon a vote being taken thereon, the following voted
in favor thereof: Anderson, Bakken, Johnson, Stockman and Thompson; and the
following voted against the same: none, whereupon said resolution was declared
duly passed and adopted, signed by the Chair and his signature attested by the
Di rector.