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HomeMy WebLinkAboutResolution 94-04RESOLUTION NO. 94-04 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA, AUTHORIZING THE PURCHASE OF VARIOUS RESIDENTIAL PROPERTIES LOCATED IN THE SHEFFIELD NEIGHBORHOOD WHEREAS, the City Council of the City of Columbia HeiGhts (the "City") and the Housing and Redevelopment Authority in and for the City of Columbia Heights (the "Authority") have been working jointly to prepare a Redevelopment Plan for the Sheffield Neighborhood entitled "The Sheffield Neighborhood Revitalization Program (the "Redevelopment Plan"); and WHEREAS, the City and the Authority have found within the Sheffield Neighborhood there exists conditions of deterioration, substandard residential structures, residential units in need of compulsory repairs which are in violation of the City Housing Code and City Ordinances and there exists a need for intervention by the public sector to prevent further deterioration of the area~ and WHEREAS, the City has an option to acquire 2 such non-owner occupied duplexes located at 4637 - 4639 Fillmore Street and 4613 - 4615 Fillmore Street pursuant to that certain Purchase Agreement by and between the City of Columbia Heights and Anthony and Agnes Yurkew (the "Sellers") and the Purchase Agreement was signed by the Sellers on January 3, 1994, and is provided herewith; and WHEREAS, the City and the Authority are working jointly to finalize a budget and a source of permanent funds to acquire the real property to be conveyed by the Sellers to the City according to the terms of the Purchase Agreement. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Columbia Heights that: 1. The City Council hereby approves the terms of the Purchase Agreement and authorizes the Mayor and the City Manager to sign it on behalf of the City. 2. The City Council hereby authorizes the City Manager to handle all the requirements and conditions in order for the City to complete the transaction contemplated in the Purchase Agreement. 3. The City Council approves an interim source of funding from the Capital Improvement Fund 410 in the amount of $112,000, with an interfund loan from the Retained Earnings Fund 652, Sewer Construction Fund, so the City may acquire the real property as provided in the Purchase Agreement. 4. The City Manager is authorized to work jointly with the Authority to identify a permanent source of project financing. 5. The Interim Sources will be repaid at such time when sources of permanent financing for the costs identified in the Redevelopment Plan have been received by the City. Resolution No. 94-04 page 2 Passed this 10th day of January, 1994 Offered by: Ruettimann Seconded by: Peterson Rol-1 call: Nawrocki, Ruettimann, Peterson, Sturdevant- aye Jolly - abstain ~/. ~_~__~~ ~yor ~os'eph Sturdevant o-Anne Student, o~ci] Secretary