Agenda - Council Work Session - 02/26/2019 - Joint City Council & EDA

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There are many options the City could look at regarding the marketing of city owned land. They could include: 1. Renew Contract with CBRE. 2. Amend Contract with CBRE on the number of properties listed for specific properties/areas/property types. 3. Amend Contract with CBRE based on terms including Commission %, Look Back Period, and considerations on circumstances when prospects reach out to the City directly. 4. Split listings between City and CBRE with City utilizing Anoka County MNCAR subscription and other marketing avenues to assist. 5. Have the City of Ramsey market all its properties and utilize Anoka County, LOIS, Costar/Loopnet and other mediums. 6. Have the City of Ramsey market all its properties and utilize Anoka County, LOIS, Costar/Loopnet and other mediums AND pay commissions to brokers that bring in deals that close. 7. Something else. Based on the complexity of these options staff is seeking input from both the City Council and EDA to discuss our marketing and listing strategy moving forward. In the interim, Staff is comfortable in continuing listing with CBRE. Funding Source: No additional funding is necessary at this point. Commission is paid to CBRE and deducted from the sale of real property. Recommendation: No action is being requested. The desired outcome is general feedback on listing strategy. Staff would recommend that the City continue to list its industrial listings and retain CBRE for some other listing types. Discussion relating to whether CBRE should continue to list all housing, retail, office, COR, non-COR and multi -family parcels, or if the City should consider listing some of this parcels on it own should be addressed. Action: Timeframe: 30 Minutes No action is being requested. The desired outcome is general feedback on listing strategy. Attachments Map of City Owned Land Listing Parties Current Listing Agreement 7.30.19 Month To Month Listing Amendment Original Listing Agreement Form Review Inbox Reviewed By Date Sean Sullivan (Originator) Sean Sullivan 02/21/2019 09:55 AM Tim Gladhill Tim Gladhill 02/21/2019 12:36 PM Kurt Ulrich Sean Sullivan 02/21/2019 03:54 PM Sean Sullivan (Originator) Sean Sullivan 02/21/2019 04:07 PM Tim Gladhill Kathy Schmitz 02/21/2019 04:07 PM Kurt Ulrich Kurt Ulrich 02/21/2019 04:20 PM Form Started By: Sean Sullivan Started On: 02/20/2019 02:59 PM Final Approval Date: 02/21/2019