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Diver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Development <br />DATE: May 7, 2007 <br />SUBJECT: INFORMATION -O'Reilly Automotive Lease 720 Main Street <br />Staff was recently notified by O'Reilly Automotive, Inc.'s Real Estate Department of their plans <br />to relocate the Elk River store from the building at downtown 720 Main Street to the former <br />Synder's building on Freeport Ave. <br />Since O'Reilly's acquisition of the Bumper-to-Bumper store, representatives have long <br />communicated corporate's real estate intention to relocate to a "free standing" building location. <br />A firm date for the relocation has not been established, however representatives indicated <br />possibly in July. Representatives stated that O'Reilly will continue with the current lease <br />obligation with the HRA until the lease expiration of September 30, 2007. <br />