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Economic Dev. Mgr/Assistant City Administrator Brama stated that this parcel has never been <br /> officially listed with CBRE, but staff was directed by the Council to do so in 2016. However, a <br /> purchase agreement came forward at that same time, and the property has been tied up since <br /> 2016. As a result, it was never officially listed. <br /> Member Hardin stated that he would be opposed to paying a broker fee for a parcel that has <br /> never been listed with the broker. <br /> Member Williams arrived. <br /> Brian Pankratz, CBRE, stated that he had been working with developers to find a parcel, and <br /> attention was brought to this parcel through that process. <br /> Member Hardin stated that the City has a long relationship with Mr. Sharp and the purchase <br /> agreement was drafted with staff, and therefore he would be opposed to paying a broker fee. <br /> Chairperson Steffen asked how Mr. Sharp had discovered this parcel. <br /> Mr. Sharp stated that he was alerted to the parcel through conversations with Economic Dev. <br /> Mgr/Assistant City Administrator Brama. He stated that the land is near his other parcels and is <br /> a good location for him. He stated that he thought the land was fairly undisturbed prior to the <br /> soil testing. He stated that most of his buildings have been speculative, noting that his last one <br /> was in 2009. He believed that there is a demand for this smaller space. He explained that when <br /> bigger companies come, that tends to draw smaller companies as well and he enjoys working <br /> with the smaller companies. He stated that those businesses eventually grow and then he often <br /> builds a larger building for them. He confirmed that he builds the shell, and the interior is then <br /> built out to match the size and needs of the company. <br /> Member Riley asked for the input of staff on the brokerage commission. <br /> Economic Dev. Mgr/Assistant City Administrator Brama stated that the property was identified <br /> as available land and was directed to work with CBRE to market the land. He noted that almost <br /> immediately a purchase agreement was brought forward from CBRE with Platinum Properties. <br /> He stated that it has been a fluid situation that Mr. Sharp and Platinum Properties were working <br /> on together, and it evolved into just Mr. Sharp. He stated that perhaps the EDA's concern has <br /> been expressed, and he can have a discussion with CBRE, to find a resolution, prior to the <br /> Council review. <br /> Chairperson Steffen noted that in the previous case CBRE brought forth the developer while in <br /> this case they did not, although there may have been a tie. He stated that he likes the project and <br /> is excited to have another project with Mr. Sharp. <br /> Motion by Chairperson Steffen, seconded by Member Hardin, to recommend to City Council to <br /> approve the purchase agreement between the City of Ramsey and Sharp & Associates LLC for <br /> 9.33 acres of City owned land, with direction for further discussion regarding the CBRE <br /> commission. <br /> Economic Development Authority/June S,2017 <br /> Page3of9 <br />