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<br />CITY COUNCIL WORK SESSION <br /> <br />Topic Report: Lease Property ~lanagement <br />By: Sean M. Sullivan, Economic Development <br />Coordinator <br /> <br />Background: <br /> <br />, jtf <br />~~ <br />'.',',,'.l\~ '., /' <br />,# .,,)) /' <br />~, . <br /> <br /> <br />.~s~ <br /> <br />On December 13,2005, the City Council approved the originaL property management agreement <br />with Premier Commercial Properties to manage the property located at 6701 Hwy 10 (Former <br />NAU Insurance). On June 27, 2006 the City Council updated the agreement to its current form <br />and added the properties located at 6101 Hwy 10 (Ralph's Gun and, Pawn) and 6745 Hwy 10 <br />(Midwest Car Care). The rate was dropped from $600.00per parcel to its current rates ranging <br />from $200.00 to $400.00 per parcel. <br /> <br />The Property manager is responsible for keeping the properties leased, and in good working <br />order. The manager also serves as the contact to the tenants for repairs necessary to the property. <br />Other duties and responsibilities of the property manager are defined in the Management <br />Agreement dated July 28th, 2006. <br /> <br />Attached are the cases and minutes relating to the evolution of the Management Agreement. <br />From the period of 2007-2008 the City was billed $24,000 ($ 1 OOO/mo.). Payments are'made <br />from available lease revenue to Premier Commercial Properties to manage these three properties. <br /> <br />Action Statement: <br /> <br />Based on discussion. <br /> <br />Reviewed by: / /" ~ <br />C?mmUni~.DevelopmentD.ire,rs ~ I <br />City AdmlOlstrator ~ <br />I <br /> <br />-- <br /> <br />CCWS: 03/24/2009 <br /> <br />Attachments: <br />CC Case # 19 Cover on 12/31/05 <br />CC Minutes for Case # 19 on 12/31/05 <br />CC Case # 14 Cover on 6/27/06 <br />CC Minutes for Case # 14 on 6/27/06 <br />Copy of Current Property Management Agreement dated 7/28/06 <br /> <br />-1- <br />