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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 3 <br />Agenda Section Meeting Date Prepared by <br />General Business August 9, 2021 Cal Portner, City Administrator <br />Item Description Reviewed by <br />Consider Alternative Sale Process for 413 <br />Proctor Ave NW – Activity Center. <br />Reviewed by <br /> <br /> <br />Action Requested <br />Direct, by motion, staff to prepare conveyance of 413 Proctor Ave. NW by Contract for Deed. <br /> <br />Background/Discussion <br />The purchaser for 413 Proctor Ave. NW. is utilizing a Small Business Administration (SBA) loan to finance the <br />property. Apparently, the SBA loan process is backlogged, and it may take a few months to receive the funding. <br /> <br />First Step Preschool has asked the city to consider a short-term Contract for Deed to convey the property so they <br />can begin facility improvements needed to operate as a preschool. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />The Elk River Mission <br /> <br />Attachments <br />None <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />