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<br />Page 6 of7 <br /> <br />e. Consolidate appropriate due diligence materials for interested end-users, <br />developers, and brokers; <br /> <br />f. Serve as lead contact with brokers, end users, and developers who have interest <br />in the property; <br /> <br />g. Solicit and review proposals from interested parties; <br /> <br />h. Represent the City in any proposal and purchase agreement negotiations with <br />potential buyers; <br /> <br />I. Provide written reports as mutually agreed upon regarding changes in the market <br />and the status of marketing efforts. <br /> <br />4. Our suggested relationship with the City. <br /> <br />Because of the current challenging market conditions in both residential and commercial real <br />estate and the expected slow improvement in these conditions, it will be important for the City <br />to have realistic expectations about the true state of the market and what may be <br />accomplished in the short-term. It will also be important for the City to be well positioned, <br />flexible, and responsive to the market place when development opportunities become <br />available. The Development Team's responsibility will be to advance the development of <br />Ramsey Town Center within the current market conditions and negotiate transactions which <br />are as advantageous as possible to the City. The City needs to provide policy direction and <br />administrative and technical support. The City also needs to assist where possible with <br />marketing and communication efforts regarding Ramsey Town Center. <br /> <br />5. Proposed compensation structure. <br /> <br />Foster Real Estate Advisory Services proposes to be compensated for ongoing development <br />management services on an hourly basis as well as by market commissions to be split with <br />procuring brokers. RLK Inc. proposes to be compensated on an hourly basis consistent with <br />a mutually agreed upon scope of services and estimated hours. <br /> <br />6. Team Leader and key team members (see attached resumes). <br /> <br />Michele Foster of Foster Real Estate Advisory Services will serve as Team Leader and be <br />the principal project contact and project manager. <br /> <br />Steve Schwanke, AICP of RLK Inc. will assist with project design, phasing, and financial <br />analysis activities, and serve as RLK's team leader. <br /> <br />John Dietrich, ASLA of RLK Inc. will assist with project design activities. <br /> <br />Pat Carpenter, PE of RLK Inc. will assist with project infrastructure and cost estimating <br />activities. <br /> <br />Vernon Swing, PE of RLK Inc. will assist with transportation activities. <br />