Agenda - Economic Development Authority - 12/14/2017

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