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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Paul Steinman, Director of Economic <br /> Development <br /> DATE: April 8, 1999 <br /> SUBJECT: Agenda Memo for April 12, 1999 <br /> Meeting <br /> 5. Brown/Kirkeide Land Purchase <br /> Issue <br /> At a meeting several months ago, the EDA authorized staff to begin <br /> negotiations with LeRoy and Ruth Brown for the purchase of their <br /> ilproperty in east Elk River. The city has been using Bud Storm to take <br /> care of various rights-of-way acquisition negotiations for the entire <br /> East Elk River project, therefore,Mr. Storm has also been <br /> spearheading negotiations with the Brown's for the EDA. <br /> The purpose of this issueis to gain a consensus of the EDA to move <br /> forward to execution of a formal purchase agreement for the Brown's <br /> property. Pat Klaers has been the primary staff person dealing with <br /> this issue. He will be present at the EDA meeting to add to the <br /> discussion. <br /> Background <br /> Discussion of purchase of the Brown's property began when it was <br /> concluded that the new Tyler Street extension would be built through <br /> the current location of their home site. It was also determined that a <br /> portion of the Brown's property would be needed for surface water <br /> management as a result of the eastern utility project. The entire <br /> Brown property equals approximately 102 acres. The Brown's will be <br /> retaining approximately 12 acres leaving 90 acres for purchase. Of <br /> this 90 acres, approximately 40 is developable. The current price <br /> • range for the purchase of this 90 acres, including the house, is <br /> 13065 Orono Parkway • P. 0. Box490 • Elk River,MN 55330-1743• (612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />