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There is no immediate or initial up front costs. CBRE is only paid at time of sale, and a commission is deducted <br />from the gross sales price rather than an hourly rate. <br />If the City desired to consider a different model than a traditional commercial broker, such as all in-house, Staff <br />would recommend a broader discussion about the EDA's budget, and would recommend that additional funding be <br />placed into professional services and/or staffing for the transition. <br />Recommendation: <br />STAFF <br />Staff recommends approval of Resolution #19-160 approving extension to the Commercial Real Estate Brokerage <br />Services with CBRE. <br />EDA <br />On June 13, 2019, the EDA reviewed the proposed terms and conditions in the attached CBRE Listing Agreement <br />and recommended approval. <br />Action: <br />Motion to adopt Resolution #19-160 approving extension to the Commercial Real Estate Brokerage Services with <br />CBRE. <br />Attachments <br />Resolution #19-160 <br />CBRE Listing Agreement Redline <br />CBRE Listing Agreement Clean <br />Recent CBRE Land Transaction Summary <br />Map of Listing Type <br />List of Properties For Sale <br />Current Listing Agreement 7.30.19 <br />Month To Month Listing Amendment <br />Original Listing Agreement <br />Draft EDA Minutes 6.13.19 <br />Form Review <br />Inbox Reviewed By Date <br />Sean Sullivan (Originator) Sean Sullivan 07/01/2019 10:36 AM <br />Tim Gladhill Tim Gladhill 07/02/2019 09:52 PM <br />Sean Sullivan (Originator) Sean Sullivan 07/03/2019 08:18 AM <br />Kurt Ulrich Kurt Ulrich 07/03/2019 08:42 AM <br />Form Started By: Sean Sullivan Started On: 07/01/2019 08:25 AM <br />Final Approval Date: 07/03/2019 <br />