RES 26-24City El - of
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River
City of Elk River
City Council
Resolution 26-24
A Resolution Approving Acquisition of Real Property
WHEREAS, the City of Elk River ("City") has entered into a purchase agreement, as amended
("Purchase Agreement A") with Coborn Realty Company, LP ("Seller A") dated October 22,
2025 for acquisition of Lot 2, Block 2, Hillside Crossing ("Property A"); and
WHEREAS, the City has also entered into a purchase agreement, as amended ("Purchase
Agreement B") with Coborn's, Incorporated ("Seller B") dated October 22, 2025 for
acquisition of a portion of Lot 1, Block 2, Hillside Crossing ("Property B") with Seller B
retaining the remainder of Lot 1, Block 2, Hillside Crossing ("Remainder Parcel"); and
WHEREAS, Seller A and Seller. B are referred to herein as "Sellers", Purchase Agreement A
and Purchase Agreement B are referred to herein as the "Purchase Agreements", and
Property A and Property B are referred to herein as the "Properties"; and
WHEREAS, a closing on the Purchase Agreements has been scheduled for April 8, 2026;
and
WHEREAS, the Properties are encumbered by a Cross Parking Easement and a Roadway
Easement (collectively, the" Encumbrances") Agreement that also affects the Property
located at 19395 Evans Street N.W., Elk River, MN and legally described as Lot 3, Block 2,
Hillside Crossing ("Valvoline Parcel"); and
WHEREAS, the City submitted a title objection letter to the Sellers objecting to the
Encumbrances and indicating a need to amend the Encumbrances due to the changes in
the legal descriptions of the Properties in relation to the Remnant Parcel and the need to
address the prorations for costs for maintenance of the road; and
WHEREAS, the City and Seller B amended the Purchase Agreement B Paragraph 8 to add
subparagraphs (g) and (h) as conditions to address the Encumbrances; and
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WHEREAS, the City has been unable to resolve changes to the Encumbrances with the
owner of the Valvoline Parcel and Sellers; and
WHEREAS, the City desires to move forward with the closing on the Purchase Agreements
without resolving issues with the Encumbrances.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows:
1. The title objections related to the Encumbrances and conditions of Purchase
Agreement B, Paragraph 8(g) and (h) are hereby waived; and
2. City staff are directed to continue negotiating with Sellers and the owner of the
Valvoline Parcel to amend the Encumbrances as needed and bring such
amendments to City Council for approval in the future.
Passed and adopted this 6th day of April 2026.
Joh . Dietz, Mayo
ATTEST:
aL
Jolene Richter, Deputy City Clerk
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