Agenda - Council - 08/11/2014 - Laserfiche WebLink

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CC Regular Session Meeting Date: 08/11/2014 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services 4. 7. Information Title Adopt 2nd Amendment to Real Estate Broker Services Contract with CBRE Purpose/Background: Purpose of Case: Approve 2nd Amendment to Professional Services Agreement with CBRE: ADD LISTING #6, Old Municipal Center Site. NOTE: this case was discussed in work session tonight. 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 'future listings" in previous discussions with the City Council. It was anticipated parcels from the 'future listing" inventory would be added to the CBRE contract as they became ready. The purpose of this case is to add a one 'future listing" parcel to the existing CBRE contract. No other amendments are being proposed. Attachments: - -Existing Professional Services Agreement with CBRE - -New/proposed listing - -Amendment to Professional Services Agreement with CBRE Notification: NA Observations/Alternatives: NA Funding Source: Future land proceeds. Recommendation: Adopt the attached 2nd amendment to the City's existing Real Estate Broker Services Contract with CBRE. Action: