Title
Resolution ratifying the current HRA policy of land valuation
Body
WHEREAS, the current HRA policy of land valuation at acquisition costs, less transaction costs and fees, was signed by the HRA Executive Director on January 1, 2009, and has been implemented since that date by HRA and PED staff; and
WHEREAS, the State Auditor has requested that the HRA Board of Commissioners ratify the current land valuation policy.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota as follows:
1. It is hereby approved and authorized that the HRA policy of land valuation will be at acquisition costs, less transaction costs and fees. All actions previously taken in this regard by HRA and PED staff are hereby ratified and confirmed as proper and authorized actions of the HRA.
2. The HRA Executive Director and staff are hereby authorized and directed to take all action necessary to implement this Resolution.