RES 21-54j
ver Resolution 21-54
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WHEREAS, the City repealed its approval of the AJT Agreement under Resolution No. 21-40, on
June 30, 2021, 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
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows: The Purchase Agreement is hereby approved, and 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 19`' day of July 20Wn
z,yor
A
Tina Allard, City Clerk
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EXHIBIT A
PURCHASE AGREEMENT
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