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Request for Action <br />To <br />Item Number <br />Mayor and Ci T Council <br />4.9 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />July 6, 2021 <br />Cal Portner, City Administrator <br />Item Description <br />Reviewed by <br />Addendum to Purchase Agreement First Step <br />Reviewed by <br />Preschool <br />Action Requested <br />Approve, by motion, the attached addendum to the Purchase Agreement with First Step Preschool. <br />Background/Discussion <br />The City Council has approved a purchase agreement from First Step Preschool for the former Activity Center <br />building at 413 Procter Avenue NW. <br />First Step has all of their approvals and is awaiting a water test result for their bank loan. The sample was taken <br />on July 1. They have requested to extend the due diligence period before closing to ensure a passing water test. <br />The addendum extends the sale closing to July 16, 2021. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />City Mission Statement <br />Attachments <br />■ Addendum <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei l_ y. <br />M <br />TUREJ <br />Updated.• August 2020 <br />