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out targeted marketing materials. He stated that the subsequent years would be a refresh of those <br /> efforts, as retails brings retail. He stated that the subsequent investment is $50,000 per year. He <br /> stated that while they initially structure on a three-year agreement, there is an annual opt-out <br /> clause included. <br /> Economic Dev. Mgr./Assistant City Administrator Brama thanked Mr. Gundstenson for coming <br /> to the meeting today. He noted that the next steps would be to bring back the notes from this <br /> discussion to the full EDA the following month for further discussion. <br /> 4.05: CBRE Real Estate Listing Contract: Amendment#3 <br /> Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. He noted <br /> that a detailed update would be provided by CBRE at the next meeting of the EDA and to the <br /> Council in December. <br /> Member Hardin stated that he is okay with adding number to the CBRE contract. He asked if it <br /> would make sense to do an RFP for the McDonald's site, rather than just automatically adding <br /> that site to CBRE to get thoughts and ideas from other brokers. <br /> Economic Dev. Mgr./Assistant City Administrator Brama stated that perhaps that could be <br /> discussed in a case at the December meeting. He noted that from a marketing prospective <br /> removing that site geographically might not make sense. <br /> Member Hardin stated that it is a shovel ready site that has been off the market for some time <br /> and thinks it would be beneficial to have other input. <br /> City Administrator Ulrich stated that CBRE has been marketing that site and has been talking to <br /> prospective clients. He stated that CBRE has been working hard and whether CBRE is listed or <br /> not, they would receive the broker's commission if they brought a deal in. He stated that if <br /> CBRE is not successful on that site, the City could look at bringing in someone else. <br /> Acting Chairperson Skaff stated that he would be fine with allowing CBRE to handle that site <br /> and therefore perhaps this should be moved to the next meeting when more members are present. <br /> Economic Dev. Mgr./Assistant City Administrator Brama confirmed that the EDA members <br /> present would be comfortable moving amendment#3 forward to the Council only with site#37. <br /> 4.06: 2018 Annual EDA Business Expo: Select Date <br /> Economic Dev. Mgr./Assistant City Administrator Brama presented the staff report. <br /> 5. MEMBER/STAFF UPDATE <br /> The EDA reviewed the Staff Update. <br /> 5.01: MNCAR/Xceligent Integrated Commercial Listings <br /> Economic Development Authority/November 9,2017 <br /> Page 6 of 8 <br />