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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 />Economic Development Authority <br />Item Number <br />7.1 <br /> <br />Meeting Date <br />March 17, 2025 <br />Prepared By <br />Brent O'Neil, Economic Development Director <br /> <br />Item Description <br />Consent of Sale of Fox Haven Properties to Kwik <br />Trip <br />Reviewed by <br />Cal Portner <br /> <br />Action Requested <br />Consent, by motion, to the transfer of property between Java Elk River Retail, LLC and Kwik Trip, Inc. <br /> <br /> <br />Background/Discussion <br />Java Elk River Retail, LLC purchased the Fox Haven parcels from the EDA in late 2024, intending to hold the <br />properties until Kwik Trip completed its due diligence and was ready to take possession of the properties for <br />its gas station and convenience store. <br /> <br />To ensure full compliance with the purchase agreement and state statute governing EDA property, Java has <br />requested the EDA consent to its sale of property to Kwik Trip. We will provide a letter to Java verifying the <br />board's action. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />Support commercial development. <br /> <br />Attachments <br />None <br /> <br /> <br />Page 24 of 26