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Economic Development Manager Ted LaFrance reviewed the staff report and recommendation <br />to enter into and potentially amend the Purchase Agreement for 5195 142nd Avenue NW between <br />the City and Imperial Development Company, LLC. <br />Motion by Councilmember Riley, seconded by Councilmember Kuzma, to Introduce Ordinance <br />No. 14-05 Authorizing the Sale of City Real Estate to Imperial Development Company, LLC. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Riley, Kuzma, Backous, <br />LeTourneau, and Tossey. Voting No: None. Absent: Councilmember Johns. <br />7.08: Adopt Amendment to Real Estate Broker Services Contract with CBRE (Portions <br />closed to the public) <br />Assistant to the City Administrator Patrick Brama noted this item is from the Council Work <br />Session. He reviewed the staff report and recommendation to add a small inventory of "Phase <br />Two" listings to the existing CBRE contract. He requested the Council discuss and confirm <br />pricing strategy for the parcels. <br />Councilmember Tossey inquired if listing #45 will be one property that will be eligible to be for <br />sale. <br />Assistant to the City Administrator Patrick Brama explained there are several factors in <br />determining the dimensions and what the interest level will be so whether it will be marketable <br />as one piece is inconclusive at this point. <br />Councilmember Tossey pointed out it is difficult to discuss the pricing if the measurement of the <br />property is not known, nor the location of the overpass. <br />City Administrator Kurtis Ulrich explained the drawing provided is very close to final The only <br />remaining issues are technical. The main pieces on the north will most likely not change. If this <br />amendment is approved, the next step is to go through the process of consolidation and obtaining <br />a clear title and then begin to market the property. <br />The Council reached consensus to consolidate the properties as recommended. <br />It was noted that under Minnesota Statutes, Section 13D.05, Sub. 3, the meeting can move into <br />closed session to discuss prices for Phase Two listings. <br />Motion by Councilmember Kuzma, seconded by Councilmember Riley, to move to Closed <br />Session to discuss pricing strategies. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Kuzma, Riley, Backous, <br />LeTourneau, and Tossey. Voting No: None. Absent: Councilmember Johns. <br />The City Council meeting moved into a Closed Session at 9:02 p.m. <br />City Council / May 27, 2014 <br />Page l0 of 12 <br />