RES 18-03HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF ELK RIVER, MINNESOTA
RESOLUTION NO. 18-03
RESOLUTION APPROVING THE PURCHASE OF CERTAIN PROPERTY LOCATED AT:
430 MAIN STREET NW, ELK RIVER, MN
WHEREAS, the Housing and Redevelopment Authority of the City of Elk River (the
"Authority") is authorized pursuant to Minnesota Statutes, Section 469.001 to 469.047, to acquire
and convey real property and to undertake certain activities to facilitate the redevelopment of real
property by private enterprise; and
WHEREAS, to facilitate redevelopment of certain property in the City of Elk River,
Minnesota (the "City'), the Authority proposes to enter into a Purchase Agreement (the "Purchase
Agreement") between the Authority and Ronald J. and Lori L. Touchette (the "Sellers"), under
which, among other things, the Sellers will convey the property located in the City at: 430 Main
Street NW, situated in the State of Minnesota, County of Sherburne, and which is legally described
as follows:
Lot 7, Block 1, Auditor's Subdivision No. 5, Sherburne County, Minnesota.
(the "Property") to the Authority; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Housing
and Redevelopment Authority of the City of Elk River, Minnesota as follows:
The Authority hereby approves the Agreement in substantially the form presented to
the Board, including the acquisition of the Property by the Authority, subject to
modifications that do not alter the substance of the transaction and that are approved
by the President and Executive Director, provided that execution of the Agreement
by those officials shall be conclusive evidence of their approval.
2. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Agreement as a whole, including without
limitation, execution of any documents to which the Authority is a party referenced
in or attached to the Agreement, and other documents necessary to convey the
Property to the Authority, all as described in the Agreement.
526053v1 SJS EL18548
Approved by the Board of Commissioners of the Housing and Redevelopment Authority of
the City of Elk River this 4th day of June, 2018.
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Pre`sidW
ATTEST:
Director
526053v1 SJS ELI 85-48