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<br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity. Updated: August 2020 <br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To <br />Mayor and City Council <br />Item Number <br />4.14 <br />Agenda Section <br />Consent <br />Meeting Date <br />November 7, 2022 <br />Prepared by <br />Zack Carlton, Community Development Director <br />Item Description <br />Purchase Agreement: RAN Properties, Natures <br />Edge Business Center Third Addition <br />Reviewed by <br />Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Adopt, by motion, a resolution approving the purchase agreement between the City of Elk River and RAN <br />Properties (GATR) for 6.86 acres of city owned property in Natures Edge Business Center Third Addition <br /> <br />Background/Discussion <br />The city and the applicant have been working to finalize the purchase agreement for the planned expansion of <br />GATR Truck Center. The purchase agreement outlines the dates and expectations for both parties. The final <br />agreed upon price is $2.25/SF. <br /> <br />Financial Impact <br />The city is selling developable industrial land and a fair market price. <br /> <br />Mission/Policy/Goal <br />Support the growth and development of the business community. <br /> <br />Attachments <br /> Purchase Agreement <br /> Resolution <br /> <br />