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Economic Development Authority (EDA) <br />Meeting Date: 08/09/2018 <br />By: Tim Gladhill, Community Development <br />4. 2. <br />Title: <br />Review Pricing Strategy for Land Sales <br />(Portions of This Case may be Closed to the Public) <br />Purpose/Background: <br />Purpose: <br />Review pricing strategy for the sale of city owned land.* This review was requested by the EDA at the June EDA <br />Meeting. <br />*The pricing strategy discussion will occur during closed session. Staff will be sending confidential materials <br />to the EDA directly, via email. The attached reference map shows the various properties currently available <br />for sale/ purchase. Although CBRE is the City's broker, for various reasons, they are not listing all available <br />City owned properties. Staff is requesting EDA input on the proposed/ updated pricing strategy. Staff will be <br />taking this case to the Council in August. <br />Notification: <br />Notification is not required. <br />Observations/Alternatives: <br />The Pricing Table will be transmitted to the EDA under separate cover, and will include details on preferred <br />purchase prices. <br />Please note that the attached Offering Memo from CBRE is the original proposal, and is now in need of updating. <br />As part of the new Economic Development Manager's Work Plan, a priority will be placed on updating marketing <br />and demographic information for real estate marketing. <br />Funding Source: <br />This case is being handled as part of normal Staff duties. <br />Recommendation: <br />Staff recommends updates to the Pricing Table based on discussion. <br />Action: <br />Motion to recommend that the City Council update the Land Sale Pricing Table. <br />Attachments <br />Ref Map <br />Current CBRE Listings <br />Developer Information Packet <br />Inbox <br />Tim Gladhill (Originator) <br />Form Review <br />Reviewed By Date <br />Tim Gladhill 07/31/2018 02:58 PM <br />