Laserfiche WebLink
River <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />**Item 3.5.** <br /> <br /> MEMORANDUM <br /> <br />Mayor and Council <br /> <br />Lori Johnson, Finance Director <br /> <br />August 13, 200 I <br /> <br />Consider Purchase Agreement for Boelter Property <br /> <br />At the July 23, 2001, City Council meeting, the Council directed staff to prepare a purchase <br />agreement for the property owned by Michael Boelter at the intersection of Highway 10 and <br />Main Street. The city attorney has prepared a purchase agreement for approval by the City <br />Council, and the main points are addressed in this memo. <br /> <br />The Purchase Agreement between the City of Elk River and Michael Bodter states that the <br />City will purchase the property for $175,000.00 with closing to occur within 60 days after a <br />commitment for insurance is received. It also states that Mr. Boelter will transfer his interest <br />in the leases with Burlington Northern Santa Fe Railroad to the City. The purchase <br />agreement allows the City to access the property owned by Mr. Boelter to conduct a Phase II <br />Environmental Report. <br /> <br />A complete copy of the purchase agreement is available at City Hall for review or you may <br />call with any questions you have. <br /> <br />Action Requested: <br />The City Council is asked to approve the Purchase Agreement between the City of Elk River <br />and Michael Boelter. <br /> <br /> <br />