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<br />CASE# IY <br /> <br />Authorize Property Management Agreement With Premier Commercial <br />Properties. <br /> <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />The City of Ramsey has been acquiring parcels in the officially mapped corridor for US <br />Highway 10. Right of Way Acquisition Loan Funds (RALF) have been used to acquire <br />and demolish unsightly buildings along the corridor. On occasion, Council has decided <br />to lease out properties that it has acquired on Highway 10. Management of the fonner <br />NA U building has been assigned to Premier Commercial Properties and a management <br />agreement has been entered into. The parcel known as Ralph's Gun and Pawn has been <br />added to the attached management agreement and Staff is looking to approve this <br />addition. It would seem apparent that more buildings will be acquired and leased along <br />highway 10. Developing a standard form of the management agreement which allows for <br />the addition and removal of property would be an effective way to mange the properties <br />from a City perspective. Attachedis a draft management agreement that puts in place a <br />standard from to use into the future, Staff has negotiated the tenns with Premier <br />Commercial Properties and is requesting authorization to enter in to the Management <br />Agreement. <br /> <br />Recommendation: <br /> <br />Authorize the City to enter into a Management Agreement with Premier Commercial <br />Properties. pursuant to the terms and conditions outlined in the attached Management <br />Agreement, contingent on City Attorney approval. <br /> <br />Council Action: <br /> <br />Motion to authorize the City to enter into a Management Agreement with Premier <br />Commercial Properties pursuant to the terms and conditions outlined in the attached <br />Management Agreement, contingent on City Attorney approval. <br /> <br />Reviewed by: <br />Community Development Director <br />City Administrator <br /> <br />cc: 06/27/06 <br /> <br />-24- <br /> <br />-365- <br />