RES 21-48Ver Resolution 21- 48
A Resolution Repealing Resolution No. 21-40 and Approving a
Conveyance of Pinewood Golf Course to Baer Necessities, LLC
WHEREAS, the City of Elk River ("City") approved a Purchase Agreement for the conveyance of
the Pinewood Golf Course to AJT Holdings, LLC ("AJT") by Resolution No. 21-40 ("AJT
Agreement"); and
WHEREAS, AJT failed to execute the AJT Agreement and notified the City Administrator that
AJT does not intend to execute the AJT Agreement; and
WHEREAS, the City desires to repeal its approval of the AJT Agreement under Resolution No.
21-40, in order to move forward with a Purchase Agreement ("Purchase Agreement") for the
conveyance of the Pinewood Golf Course to Baer Necessities, LLC ("Purchaser") in accordance
with the terms of the Purchase Agreement between the City and Purchaser attached hereto as
Exhibit A, under substantially similar terms as the proposed AJT Agreement; and
WHEREAS, in expectation of the closing of the AJT Agreement, the City also terminated the
agreement with Elk River Country Club, Inc. ("ERGC") for the management of the Pinewood Golf
Course ("ERGC Management Agreement"), effective the date of closing under the AJT Agreement;
and
WHEREAS, with the termination of the ERGC Management Agreement, the City will need an
operator of the Pinewood Golf Course and desires to enter into an Interim Management Agreement
with the Purchaser until the Closing pursuant to the terms set forth in the Interim Management
Agreement attached hereto as Exhibit B.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows: 1. Resolution No 21-40 approving the AJT Agreement is hereby repealed.
2. The Purchase Agreement is hereby approved; 3. The Interim Management Agreement is hereby
approved; and 4. The Mayor, City Administrator, and City Clerk are hereby authorized to execute
and deliver all necessary documents required under the terms of the Purchase Agreement and
Interim Management Agreement.
Passed and adopted this 30t" day of June AM-"
c Mayor
Tina Allard, City Clerk
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EXHIBIT A
PURCHASE AGREEMENT
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EXHIBIT B
MANAGEMENT AGREEMENT
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