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of 4 Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 3. <br /> Agenda Section Meeting Date Prepared by <br /> Closed April 18,2016 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Consider offer to purchase 13530 185th Avenue, Cal Portner, City Administrator <br /> Lot 2,Block 1,Fox Haven Commercial Reviewed by <br /> Action Requested <br /> Provide response to the offer proposed by JS Property Holdings,LLC for 13530 185th Ave. <br /> Background/Discussion <br /> JS Property Holdings,LLC has submitted an offer to purchase the City's standard Purchase Agreement. <br /> The buyer is proposing to build an approximate 3,000 square foot chiropractic facility on the 1.5 acre <br /> parcel located west of Westbound Liquor, owned by the Elk River Economic Development Authority. <br /> An appraisal of the property was conducted on February 2, 2016 by Nagell Appraisal&Consulting and <br /> will be distributed at the meeting. <br /> Financial Impact <br /> None <br /> Attachments—To be distributed at the meeting <br /> • Purchase Agreement (March 25, 2016) <br /> • Appraisal (February 2,2016) <br /> • Project Summary <br /> 111E1E1 11 <br /> Template Updated 4/14 NATURE <br />