HRA RES 2005-01 - 00013438HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF FRIDLEY, COUNTY OF ANOKA, STATE OF
MINNESOTA
HRA RESOLUTION NO. 2005-01
A RESOLUTION AUTHORIZING NEGOTIATION, EXECUTION AND DELIVERY OF
A PURCHASE AGREEMENT WITH HOGENSON PROPERTIES, LTD. FOR THE
REAL PROPERTY LOCATED AT 5955 3� STREET NE, FRIDLEY, MINNESOTA
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the Housing and
Redevelopment Authority in and for the City of Fridley (the "Authority") as follows:
Section 1. Recitals.
1.01 The Authority previously approved a form of purchase agreement for other
acquisitions of residential property in Gateway West and has entered into purchase agreements
for, and closed on, the purchase of the properties located at 5917, 5923, and 5925 3rd Street NE.
1.02 Hogenson Properties, Ltd. ("Hogenson"), the owner of the property at 5955 3ra
Street NE (the "Property"), stated that it was amenable to the sale of the Property to the Authority
if a purchase price and other terms could be agreed upon. Hogenson asked the Authority to
present an offer to purchase the Property.
1.03 The Authority has presented an offer to Hogenson Properties, Ltd., in the form of
the draft Purchase Agreement attached hereto, to purchase the property at 5955 3rd Street NE.
1.04 The Authority has not yet received a response to its offer, but deems it advisable to
approve execution of a purchase agreement with Hogenson if the form of purchase agreement as
executed is in substantial conformity with the draft Purchase Agreement presented to the Authority
herewith.
Section 2. Findin�s.
2.01 The Authority hereby finds that acquisition of the Property and execution of a
Purchase Agreement further the goals and objectives of the Redevelopment Plan.
HRA Resolution No. 2005-01 Page 2
Section 3. Authorization for Execution and Deliverv.
3.O 1 The Chairman and the Executive Director of the Authority are hereby authorized to
execute and deliver a Purchase Agreement to Hogenson when the following condition is met:
Substantial conformity of the Purchase Agreement to the Purchase
Agreement presented to the Authority as of this date, with such
additions and modifications as the Officers may deem desirable or
necessary as evidenced by their execution of the Purchase Agreement.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N
AND FOR THE CITY OF FRIDLEY THIS 3� DAY O FEBRUARY 2005.
Lawr n e . Commer , airman
ATTEST:
� " �.
William W. Burns, Executive Director