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City of <br /> Elk Special Virtual Meeting of the Elk River <br /> River Housing and Redevelopment Authority <br /> Held at the Elk River City Hall <br /> Tuesday, April 14, 2020 <br /> (Due to the COVID-19 Pandemic) <br /> Members Present: Chair Larry Toth, Commissioners Denny Chuba,Michelle Eder,Nate Ovall, <br /> and Jayme Swenson <br /> Members Absent: None <br /> Staff Present: Economic Development Director Amanda Othoudt, Economic <br /> Development Specialist Colleen Eddy, and Sr.Administrative <br /> Assistant/Recording Secretary Jennifer Green <br /> 1. Call Meeting to Order Ise, <br /> Pursuant to due call and notice thereof,the meeting of the Elk River Housing and <br /> Redevelopment Authority was called to ordby Chair Toth and roll call was <br /> taken. <br /> 1 406 Main Street Purchase <br /> Ms. Othoudt presented the staff report. She outlined details of the purchase agreement <br /> documents between the HRA and the property owner, Cora Smith,Trustee,Tim Smith, and <br /> the current tenant pertaining to the purchase of 406 Main St. NW,in the amount of <br /> 4f230 <br /> h , and a $5,000 escrow payment. <br /> he explained the property is currently occupied by tenant CRAG Enterprises LLC; <br /> erefore,negotiations required different rules and regulations for purchasing that fall under <br /> the Federal Property Relocation Act. The regulations allow CRAG Enterprises LLC,the sole <br /> tenant of the property, to remain on the premises until CRAG provides the HRA with <br /> notice of vacation. <br /> The sale closing date was set for June 30, 2020,with the intent the tenants will then vacate <br /> the premises. $5000 in escrow funds will be held in an interest-bearing account which allows <br /> the HRA some flexibility with the tenant when they vacate the property, as the HRA can use <br /> the funds towards getting the property cleaned up as well as pay any overdue bills. Ms. <br /> Othoudt explained the tenants have signed a waiver of receiving relocation funds as outlined <br /> in the Property Relocation Act. <br /> Commissioner Ovall asked for clarification of the signing of a waiver of relocation benefits <br /> within the purchase agreement and wondered if the HRA has any recourse if the tenants <br />