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;ity of <br /> <br />iver <br /> <br />MEMORANDLIM <br /> <br />INFORMATION <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Paul Steinman, Director of Economic Development <br />January 6, 2000 <br /> <br />Holt and Jackson Site <br /> <br />The last potential buyer for the Holt and Jackson site for the construction of a <br />ReMax office has informed staff that they are no longer interested in the <br />purchase of this property. They expressed concern over the overall cost of the <br />project, including land, and that these costs, in turn, would drive rental rates <br />to a price that is greater than the current office market will bear in Elk River. <br /> <br />Since no purchase agreement was executed on this site, staff presumes to <br />simply continue marketing the site and will bring proposals back to the City <br />Council as appropriate. <br /> <br />If you have any questions or comments on this issue, please feel free to call me <br />at 441-4905. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />