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(8)2017 Additional Resources:At this point,it appears the City Council will be approving a 2017 budget <br /> that will include a$25,000 increase in the EDA marketing budget and a 20-hour per week position to aid the <br /> economic development manager. Although the exact scope of the work to be completed with these additional <br /> resources is not 100% finalized today--these resources will certainly put the City is a position to take a <br /> stronger, and more pro-active, approach on economic development in 2017. <br /> GENERAL UPDATE ON ACTIVITY <br /> Staff has experienced a significant increase in inquires,prospects, and proposed deals over the past 12 months. <br /> Generally, it appears the market for development projects in Ramsey is improving. The strongest markets appear to <br /> be residential, followed by industrial. The market for office and retail remains soft. <br /> Notification: <br /> NA <br /> Observations/Alternatives: <br /> Over the past few years,City staff has received random feedback from elected officials,the public, and third party <br /> professionals related to our strategy for selling city-owned land. Listed below are a handful of opportunities/ <br /> alternatives to consider as this discussion unfolds. Staff would like to know if the EDA has interest in further <br /> pursuing any of these alternatives (or alternatives not listed). <br /> (1) Traditional Broker (current method) <br /> Broker creates professional listings, lists properties on websites,places real estates signs, sends email blasts, <br /> connects with networks/contacts, and provide market updates to city. A traditional real estate typically gets <br /> paid a commission between 5-7%on land sales. This option is typically the most cost-effective,and requires <br /> the least amount of exposure to the city financially,in terms of upfront expenses. Staff believes CBRE is a <br /> great fit for this particular strategy. <br /> Examples: coldwellbanker.com, edinarealty.com, colliers.com/en-us/us <br /> (2)Value-added Broker <br /> Organizations that provide traditional brokerage services, along with additional value-added services.For <br /> example, some firms provide professional engineering and land use services, along with land sale services <br /> (i.e. Landform). Another example is a firm that provides land sale services with a more robust marketing, <br /> public relations offering,and consulting(i.e.IAG, Jeff Lafavre). Typically,these firms cost more than a <br /> traditional broker--and often times include a combination of both commission payments and regular <br /> payments. These firms would be a little more "hands on"with staff and our elected officials. The scope of <br /> their work is variable, and highly customizable. <br /> Examples:iagcommercial.com, landform.net <br /> (3)Public Relations/Marketing Firms <br /> Private organizations that specialize in providing detailed/specific marketing for real estate--including <br /> in-depth targeted marketing campaigns. This could be useful for Ramsey in the areas of retail(restaurants and <br /> shopping), anchor users(theaters),hotels,and office users. This could also be useful in aiding staff with <br /> keeping our content/data fresh and out in the public eye (i.e. more press releases, facebook posts, etc.). <br /> Examples: fallsagency.com, maccabee.com, antennaconsulting.com <br /> (4)Private Economic Development Services <br /> Organizations that specialize in aiding government agencies(and large utility companies)in maximizing the <br /> effectiveness of their economic development departments. Range of services is highly variable. Often times, <br /> these agencies have a plug-in to a base of traditional economic development prospects/contacts(Le. <br /> manufacturing). Additionally,these agencies typically target website improvements and advertising <br /> campaigns. <br /> Examples: goldenshovelagency.com/gsa, wedaconnect.com/ <br /> (5) Event Attendance & Networking <br />