Minutes - Council Work Session - 02/26/2019 - Joint

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Motion carried. Voting Yes: Acting Mayor Riley, Councilmembers Shryock, Heinrich, Kuzma, and Musgrove. Voting No: None. Absent: Mayor LeTourneau. The meeting reconvened to Open Session at 6:40 p.m. 2.03: Review Pricing Strategy for Sale of Excess City-Owned Land— Continued (portions of this case may be closed to the public) Community Development Director Gladhill summarized the consensus that was reached during the closed session to retain the current pricing sheet, to review updated market data and appraisals, and if any changes are suggested they would come back to a future meeting. 2.04: Review Strategy for Listing City-Owned Land for Sale Councilmember Kuzma stated that he would be comfortable continuing to work with CBRE. He stated that Mr. Pankratz has been working with Ramsey for many years and brings a wealth of knowledge with that relationship. Acting Mayor Riley asked the benefit of remaining with CBRE and the benefits of going with a new broker. Economic Development Manager Sullivan stated that since 2014, seven of the nine prospects that were brought in for the sale of City-owned land were brought in through CBRE. He agreed that Mr. Pankratz brings a wealth of knowledge about The COR and can explain those intricacies to potential buyers. He explained that the work Mr. Pankratz does, saves staff a large amount of time, and therefore provides a level of efficiency. He stated that CBRE also puts signs up throughout the community and updates the brochures that can be used by City staff, which does not have an additional cost above the commission that is paid on sales. He noted that there are some industrial parcels outside of The COR, which the City lists directly and does not list through CBRE. Councilmember Kuzma stated that his concern with CBRE was that they have a lot of listings outside of Ramsey and therefore wondered how hard they were working to push Ramsey over the other communities. He stated that it was explained at the EDA meeting that the clients that CBRE works with are looking for different things and the different communities they work with have different benefits and attractions. Economic Development Manager Sullivan agreed that there is a benefit to CBRE having a larger reach, which opens the door to different potential buyers. Councilmember Shryock stated that she would like to stay with CBRE, as it sounds like Mr. Pankratz works well with the City and that relationship allows staff to focus on other tasks and responsibilities. She stated that she likes that CBRE is paid based on commission, which ensures that they are only paid based off the sales they make. She stated that she is comfortable with the expertise that Mr. Pankratz brings. City Council Work Session/February 26,2019 Page 3 of 5