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Economic Development Authority (EDA) <br />Meeting Date: 11/09/2017 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />Title: <br />CBRE Real Estate Listing Contract: Amendment #3 <br />4. 5. <br />Purpose/Background: <br />PURPOSE <br />The purpose of this case is to approve the attached Listing Agreement Amendment #3 with CBRE. Changes <br />summarized below. <br />(1) McDonald's parcel added to the listing agreement. <br />(2) Former BA Cylinder site added to listing agreement. <br />No other changes made. <br />Notification: <br />NA <br />Observations/Alternatives: <br />(1) McDonald's parcel added to the listing agreement. <br />As the EDA/ Council knows, the city recently took back possession of the former McDonald's site. Staff would like <br />to update the CBRE contract accordingly. Staff would note, both staff and CBRE have been working with multiple <br />prospects on this site. <br />(2) Former BA Cylinder site added to listing agreement. <br />This site was a part of the original CBRE contract. Staff accidently took it off as part of the last contract amendment <br />(#2). Staff would like to update the CBRE contract accordingly. Staff would note, CBRE has seen strong interest for <br />this parcel from a commercial user. <br />Funding Source: <br />NA <br />Recommendation: <br />Staff is generally supportive of this amendment. The two proposed changes are consistent with past discussions. No <br />other changes are being made (including term). <br />Action: <br />Motion to recommend the City Council: <br />Approve the attached Listing Agreement Amendment #3. <br />Attachments <br />Amendment 3 <br />Amendment 2 <br />