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• Summary <br />Given this information, an obligation is owed to Custom Motors regarding the <br />City's intentions. Public funds are limited for the outright purchase of the <br />Custom Motors site. An end-user would expect that the site be conveyed free <br />of environmental concerns. <br />A better fit in this situation is to continue to work with Custom Motors <br />regarding its relocation to another site in the community. If an opportunity <br />exists, supplemental mortgage financing through the EDA, or, other <br />permanent financing of this expansion can be pursued. Permanent financing <br />may include conventional means or other public programs. <br />Action Requested <br />The Elk River City Council is asked to provide Custom Motors with definitive <br />direction on the public acquisition of its site at 13913 Highway 10. The City <br />Council is also asked to affirm the availability of certain public financing <br />programs to assist with the potential relocation of Custom Motors to another <br />part of the community. <br />• <br />council:crositeac <br />• <br />