Agenda - Council - 07/09/2019 - Laserfiche WebLink

Home

on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways. Notification: Notification is not required. Observations/Alternatives: Alternatives include, but are not limited to the following: 1. Continue contract with CBRE with existing language. 2. Amend contract with CBRE on the number of properties listed for specific properties, commission, look -back period, or other standards. 3. Seek proposals from other real estate brokers. 4. List and market properties utilizing City Staff. Draft CBRE Contract Highlights: 1. The following parcels have been removed from the listing contract dated June 7, 2018: • Parcel 8 - Amoco Site - 25-32-25-43-0043 • Parcel 11- Water Tower site at 167th - 11-32-25-43-0004 • Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006 • Parcel 40 - Bookstore Site - 34-32-25-13-0005 • Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD) • Parcel 52c - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005 • The Waterfront (Lake Ramsey) 28-32-25-24-0002 and 28-32-25-24-0003 • Parcel 45 (SOLD) - 29-32-25-14-0009, 29-32-25-14-0010 and 29-32-25-14-0013 • Parcel 6 - Old Muni Site - 28-32-25-41-0081 (SOLD) 2. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice. 3. CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows: 1. $1.50 per gross square foot for the sale of any industrial or office land 2. $5,000.00 for the sale of any residential parcel of land 3. $5,000.00 for the sale of any residential parcel of land greater than $45,000 4. $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000 4. NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. 5. Standard Commission found in Exhibit A. As to sales of real property, CBRE's commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price. If approved, revisions would take effect August 1, 2019. On June 13, 2019, the EDA recommended approval of the language changes included in the attached CBRE Contract dated July 1, 2019. Funding Source: