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Thus, City Council directed City staff to pursue other land options within the City of Elk River for Spectrum to be located <br />outside of the Business Park and bring those options back to the Council for the February 6 work session. <br />Since that time, and in preparation for the upcoming February 6 City Council work session, Spectrum has pursued the two <br />leads presented to us by City Staff. The first was a parcel of land located to the south east of the Business Park, off of <br />Twin Lakes Road, owned by a private parry. We met with the land owner of the 12.5 acre parcel. There were numerous <br />reasons the land cannot work for the school. There are only 7.25 buildable acres and the owner is asking $13M for the <br />property. This information was conveyed to City at the time. <br />The second land owner that approached Spectrum was for property located in close proximity to Twin Lakes Elementary <br />School off of Cleveland Street NW. While the developer has 50 acres and is open to selling land to the school, the price <br />tag is $30,000 /acre, which is well outside of Spectrum's ability to pay. <br />In addition to the excessive price of the land in both cases, the school is not in a position to build a new building without a <br />sale of the sixth grade facility that recoups Spectrum's investment in that facility, as discussed above. <br />As the City Council work session is rapidly approaching, we want to communicate what the school feels would meet our <br />needs and allow us to realize the return on our investment. <br />The option of having land donated to the school in close proximity to the high school facility is appealing. However, in <br />order for the school to pursue this as an option, we would need to have at least the following in place: <br />1. Assurance of traffic access through the Business Park for both entering and exiting at the southernmost <br />intersection of Twin Lakes Road and 175th Avenue NW; <br />2. Assurance that a sufficient access point is established between the current high school property and the 13 acres; <br />3. Assurance that the City will seek out a buyer or purchase the current Spectrum 6th grade facility, with a current <br />price tag of approximately M. This is necessary in order for the school to have sufficient funds to build a new <br />facility; and <br />4. Assurance that the land will be free or very low cost in order for the school to be able to afford building a brand - <br />new facility. <br />In light of the necessary assurances with the 13 acre parcel, the school believes the best option moving forward will be for <br />the City to approve a CUP for Spectrum to purchase the building and property located at 17823 Industrial Circle NW, Elk <br />River, Minnesota, currently owned by CPE Exchange 26404, LLC. Spectrum believes this would be the best option for <br />the following reasons: <br />1. The building is currently unoccupied, therefore not displacing any current businesses; <br />2. The seller is interested in selling the building to the school at this time; <br />3. The building is in close proximity to both the 6th grade and high school buildings; <br />4. The open space on the southern portion of the parcel is perfectly located to provide the needed additional field <br />space for the middle school; <br />5. The open space can also allow for additional parking and bus staging to address current and future traffic flow <br />within the Business Park; <br />6. The open space can potential provide space for sidewalks and a cross walk — increasing safety within the Business <br />Park; and <br />7. Since it is a current structure and would not require the purchase of additional land, it is an affordable option for <br />reaching out intended growth target. <br />Spectrum is grateful for the work of the staff and Council in seeking solutions for Spectrum's expansion needs. We are <br />also thankful for the recognition by City staff, the Planning and Zoning Commission, and the City Council of Spectrum as <br />a high quality public school option in the City of Elk River. We look forward to continuing our work with the City. <br />Sincerely, <br />Dan DeBruyn Vanessta Spark Rick Peterson <br />Incoming Executive Director Outgoing Executive Director Facilities Director <br />Page 4 of 6 <br />