RES 26-32ver
City of Elk River
City Council
Resolution 26-32
A Resolution of the City Council of the City of Elk River Amending a
Real Estate Purchase Agreements between the City of Elk River and
Coborn's, Incorporated and Coborn Realty Company.
WHEREAS, the City entered into a land purchase agreement with Coborn's, Inc. on
October 22, 2025, to purchase to parcels of real property, with closing to occur by March 6,
2026, and extended by the Council to May 1, 2026.
WHEREAS, the two agreements specified the closing of the properties is contingent on
the properties closing simultaneously.
WHEREAS, to facilitate the expedient transfer of the Coborn Realty Company parcel, the
City and Coborn's desire to modify the agreements by removing the requirement the
properties must be transferred simultaneously.
WHEREAS, these modifications set the closing dates to May 5, 2026, for the Coborn
Realty Company parcel and August 31, 2026, for the Coborn's Inc. parcel.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows: These Amendments to the Purchase Agreements are hereby
approved in substantially the same form as presented.
Passed and adopted this 20th day of April 2026.
ATTEST:
-- ()z
Jolene Richter, Deputy Clerk