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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br /> <br />Request for Action <br /> <br />To <br />Housing and Redevelopment Authority <br />Item Number <br />6.2 <br /> <br />Meeting Date <br />July 1, 2024 <br />Prepared By <br />Brent O'Neil, Economic Development Director <br /> <br />Item Description <br />Amendment to Purchase Agreement for Main and <br />Gates <br />Reviewed by <br />Cal Portner <br /> <br />Action Requested <br />Approve, by motion, Amendment Three to the Purchase and Sale Agreement for the Main and Gates <br />Properties. <br /> <br />Background/Discussion <br />The HRA's agreement to sell the property at Main and Gates to Ron Touchette has been twice amended to <br />move the closing to July 31, 2024. Mr. Touchette continues to work out final details on the site in anticipation <br />of closing on the sale and commencing the construction project. He is still working through due diligence <br />items and is requesting the HRA extend the closing date to October 28. He will be present to discuss the <br />project and answer any questions on the status of the project. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Promote housing and redevelopment projects. <br /> <br />Attachments <br />1. Third Amendment Main and Gates <br /> <br /> <br />Page 28 of 36