INFORMATION #4 01-10-2000;ity of
iver
MEMORANDLIM
INFORMATION
TO:
FROM:
DATE:
SUBJECT:
Mayor & City Council
Paul Steinman, Director of Economic Development
January 6, 2000
Holt and Jackson Site
The last potential buyer for the Holt and Jackson site for the construction of a
ReMax office has informed staff that they are no longer interested in the
purchase of this property. They expressed concern over the overall cost of the
project, including land, and that these costs, in turn, would drive rental rates
to a price that is greater than the current office market will bear in Elk River.
Since no purchase agreement was executed on this site, staff presumes to
simply continue marketing the site and will bring proposals back to the City
Council as appropriate.
If you have any questions or comments on this issue, please feel free to call me
at 441-4905.
13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425