The Elk River Economic Development Authority (EDA) has agreed to sell a 43.75-acre undevelopable outlot in the Northstar Business Park for $41,300. The buyer is Bryan Provo, owner and general manager of Alliance Machine and Provo Enterprises. Alliance Machine is located in the Northstar Business Park, which is off Twin Lakes Road north of Highway 10. Provo had asked to buy the outlot in October, indicating he would like to use it for bow hunting.
Following his request, the lot was advertised for sale through a public bidding process. One bid was received. It was from Provo Enterprises for $41,300.
The $41,300 price exceeds the appraised value of $40,000. In addition, Provo will also pay $1,750 to cover the cost of the appraisal and all legal fees associated with the sale.
The EDA held a public hearing on the proposed sale on Monday, March 11 before voting 6-0 to execute a purchase agreement. Provo, who is a member of the EDA, abstained from the vote.
“Everything was done appropriately as far as how we should sell the property,” EDA President Dan Tveite said.