4.6. SR 08-02-2021
Request for Action
To Item Number
Mayor and City Council 4.6
Agenda Section Meeting Date Prepared by
Consent August 2, 2021 Cal Portner, City Administrator
Item Description Reviewed by
Addendum to Purchase Agreement First Step
Preschool
Reviewed by
Action Requested
Approve, by motion, the attached addendum to the Purchase Agreement with First Step Preschool.
Background/Discussion
The City Council has approved a purchase agreement from First Step Preschool for the former Activity Center
Building at 413 Proctor Avenue NW.
Closing on the property has been delayed as improvements to the water system and testing are implemented. The
final improvements have been completed and the water system has tested to be in compliance with state and
federal regulations.
The addendum extends the due diligence period to complete the sale closing process. Because the buyer is
utilizing a U.S. Small Business Administration loan, a follow-up water test will be completed in 60 days. The
addendum includes a not-to-exceed cap of additional improvements to ensure compliance.
Financial Impact
N/A
Mission/Policy/Goal
The Elk River Mission
Attachments
Purchase Agreement Addendum
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
Updated: August 2020
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