Agenda - Council - 05/27/2014 - Laserfiche WebLink

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CC Regular Session Meeting Date: 05/27/2014 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services Information 4. 7. Title Adopt Amendment to Real Estate Broker Services Contract with CBRE - This Consent item was moved to the regular agenda as item 7.08. Purpose/Background: Purpose of Case: Approve Amendment to Professional Services Agreement with CBRE: ADD PHASE TWO PROPERTY LISTINGS. City Council Work Session: This case was/will be reviewed in work session this evening. In work session, the Council will ALSO discuss "pricing strategy" for the two new listings. Pricing strategy is not the concern of this specific case. Background: The City of Ramsey owns a large inventory of developable land available for purchase by the private sector. In an effort to reduce the number of tax exempt parcels in the Ramsey, and encourage private market development, the City Council has identified the sale of developable City owned land as a priority. In January 2014, the City entered into a contract for real estate broker services with CBRE to facilitate the sale of City owned land. Said contract included a large portion of City owned properties available for development. However, for a number of reasons, a small inventory of developable City owned land was not included. This non -listed inventory was identified as "Phase Two" listings in previous discussions with the City Council. It was anticipated parcels from the "Phase Two" listing inventory would be added to the CBRE contract as they became ready. The purpose of this case is to add a small inventory of "Phase Two" listings to the existing CBRE contract. No other amendments are being proposed. Attachments: - -Existing Professional Services Agreement with CBRE - -Phase Two Listings (#13 and #45 proposed to be added only) - -Amendment to Professional Services Agreement with CBRE Notification: NA Observations/Alternatives: NA Funding Source: Future land proceeds. Recommendation: