HRA RES 1979-04 - 00014092i ,u a
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RESDLUTION N0. HRA-4 — 1979
A RES�LUTION OF THE HOUSING AND REdEVELOPMENT AUTHORITY OF
THE CITY OF FRIDLEY APPROVING THE INITINL NEGOTIATION FOR
ACQUISITION OF 5832 UNIVERSITY AVENUE, N.E., LOTS 21,22,23
AN� 24, &LOCK 21, HYDE PARK
WHEREAS, THE HQUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY HAS
APPROVED THE INTTIAL NEGOTIATION FOR ACQUISITION of 5832 Un�versity Avenue
N.E., Fridley, Minnesota, further described as Lots 21,22,23 and 24, Block
21, Hyde Park
WHEREAS, the Housing and Redevelopment Author�ty has rece�ved on appra�sal
and a review appraisal for the afore mentioned property setting a value for
purchase at $38,000; and
WHEREAS, in a negotiation meettng held wtth the property owners and the
Authority Staff on December 1D, 1979, a purchase price of $42,000.00 was
negotiated; and
WHEREAS, thts additional cost is �ustifted based on the followtng condit�ons
1. Attorney fees for a condemnation hearing
2. Inflation costs since the appra�sal
3. Additional staff costs in planning
NOWTHEREFORE BE IT RES�LVED by the H.R.A. of the C�ty of Fridley that the
negottated offer of $42,000.00 for the purchase of the property at 5832
University Avenue, N.E., Frtdley, Minnesota further descri6ed as Lots 21, 22,
23 and 24, Block 21, Hyde Park is an acceptable purchase price; and
BE IT FURTHER RESOLVED, that the executive d�rector have drawn for execution,
and execute necessary papers for purchase of said descri6ed property.
PASSEO AND ADOPTED BY THE HOUSING AND RE�EVELOPMENT AUTHORITY OF TNE CITY OF
FRIDLEY THIS 13th DAY OF DECEMBER >>9�9
HOUSING
� ATTES � �
EXEC IVE DIREC OR - JERROLD L. BOARDMAN
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REDEVELOPMENT AUTH6RITY