School Board to act on sale of former D.C. on Monday, Aug. 14
Two offers less than $400 different; what each would bring to Elk River unknown to public at this point
by Jim Boyle
Editor
The Elk River Area School Board is expected to approve on Monday a purchase agreement for the sale of the former District 728 Offices at a price of $901,000.
District officials received two offers, which after an analysis of them, differ by less then $400.
Greg Hein, the Elk River Area School District’s executive director of business services, will present an analysis of the two purchase agreements.
Interest has been high for the former District 728 Office, and so has the community’s interest.
The administration will recommend the School Board accept a purchase agreement with 10401 BRE Group, according to the School Board’s agenda for its regular meeting at 7 p.m. on Aug. 14 at Elk River City Hall.
BRE Group, a limited liability company proposed has negotiated a purchase price of $901,000 to buy the building at 815 U.S. Highway 10, with the financial net impact of the deal being $839,667.
ResCare Minnesota Inc., a Delaware corporation with its headquarters in Louisville, Kentucky, has offered to by the former administrative offices building for $925,000, with the final net impact being $840,039 — or $372 more than BRE’s offer.
Factors in the net financial impact include commissions, closing costs and operational costs for the due diligence period.
Prior to the expiration of the due diligence period, the buyer shall be satisfied that applicable zoning laws, ordinances and recorded restrictions, if any, will permit the buyer’s intended use of the property.
There was no information in the prepared documents for the Aug. 14 meeting to suggest what BRE Group’s intent. The Star News has left a voicemail with Robert Carlson, of the BRE Group to find.
The group was incorporated on Dec. 23, 2015 and remains active and in good standing, according to information on the Office the Secretary of State’s website. It’s registered address is at 3131 Fernbrook Lane North in Plymouth.
There were also no indications of what ResCare Minnesota’s intent would be if they were to purchase the building. The organization, however, has a website that tells about the company in general terms.
The Star News also has a message into David Folkner, the president of ResCare and the listed buyer in the purchase agreement.
ResCare, Inc., founded and headquartered in Louisville, Kentucky, is dedicated to impacting communities for the better with a mission to help people live their best life, according to the organization’s website.
ResCare is the largest private provider of services to people with disabilities, the largest privately-owned home care company, the largest provider of specialized high-acuity neuro-rehab in community settings and the largest career center workforce contractor in the U.S., according to its website. The website states it is also the largest diversified health and human services provider in the U.S.
With more than 40 years of experience, ResCare offers daily living support services and in-home care, vocational training, job placement, pharmacy, rehab and behavioral health services for people of all ages and skill levels. Our care professionals work in thousands of communities across the United States – helping more than 2 million people each year.
ResCare has helped people achieve quality and safety outcomes at home or in a homelike environment since 1974.
Company officials consider themselves an innovator in the safe care of individuals in need of assistance, whether it’s adult support or the support of children with special needs.