Agenda - Council - 07/10/2018 - Laserfiche WebLink

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CC Regular Session Meeting Date: 07/10/2018 By: Tim Gladhill, Community Development 4. 8. Information Title: Adopt Resolution #18-140 Extending Contract with CBRE for Commercial Real Estate Brokerage Services Purpose/Background: The purpose of this case is to consider extension of the existing contract with CBRE for real estate brokerage services for City -Owned Properties. The contract is a month -to -month contract with an expiration date of July 31, 2018. Since the City is currently recruiting for an Economic Development Manager that will be the point of contact for these services, staff recommends extending the existing agreement by at least six (6) months. This will allow the new Economic Development Manager to recommend a longer -term option for management of City real estate assets. Additionally, this would coincide with the 2019 EDA and General Fund Budget discussions. Notification: Notification is not required. Observations/Alternatives: For specifics of the contract itself, please see the attached contract. Funding Source: CBRE collects a commission fee at time of land sale deducted from the land sale price. Recommendation: Staff recommends extending the contract with CBRE on a month -to -month basis through December 31, 2018. Note: the attached "proposed" contract depicts an extension of 12-months to June 30, 2019, and this would be amended to reflect the recommended 6-month term. Action: Motion to adopt Resolution #18-140 extending the contract with CBRE on a month -to -month basis through December 31, 2018. Existing Contract Original Contract Proposed Contract 2018 Resolution #18-140 Attachments Form Review Inbox Reviewed By Date Tim Gladhill (Originator) Tim Gladhill 07/05/2018 10:06 AM Kurt Ulrich Kurt Ulrich 07/05/2018 02:25 PM Form Started By: Tim Gladhill Started On: 07/03/2018 07:57 AM Final Approval Date: 07/05/2018