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4.03: Review Real Estate Management Strategy for City Owned Land Listed by CBRE <br />Economic Development Manager Sullivan presented the staff report. <br />Chairperson Steffen asked if the clause that was added during the last contract renewal was <br />related to commission. <br />Economic Development Manager Sullivan reviewed the changes that were made to commission <br />during the last contract renewal process reducing some sales to 3% commission for City based <br />leads. <br />Member Kuzma commented that he is comfortable in the manner in which CBRE markets the <br />Member Riley stated that there is an upcoming worksession for the City Council related to high- <br />density housing and asked how it could impact CBRE if the City decides to hold off on <br />additional high-density housing. <br />Economic Development Manager Sullivan replied that only a small portion of parcel 46 is really <br />the only area left that could potentially have apartments as a use. Therefore, he did not believe <br />that there would be an impact on CBRE. <br />Motion by Chairperson Steffen, seconded by Member Kuzma, to recommend to City Council to <br />approve the draft amendment to Listing Agreement with CBRE dated February 1, 2020. <br /> <br />Further discussion: Member Cords asked if there is any reason that CBRE would not move <br />forward with the amended agreement. Economic Development Manager Sullivan replied that he <br />is confident that CBRE would move forward with the amended agreement. <br /> <br />Motion carried. Voting Yes: Chairperson Steffen, Members Kuzma, Burandt, Cords, and Riley. <br />Voting No: None. Absent: Member Hardin. <br /> <br />5. MEMBER / STAFF UPDATE <br /> <br />Economic Development Manager Sullivan indicated that the Business Expo is scheduled for <br />th <br />April 4 and provided an update on the planning process. He stated that he has been sending <br />emails to the EDA to advise of upcoming business visits and asked if that is sufficient <br />notification for those that may wish to attend. The EDA indicated the new process was working. <br />Administrative Services Director Lasher stated that there is one seat on the EDA that is expiring, <br />and that member had decided to apply for reappointment. She provided an update on the vacant <br />position on the EDA, noting that staff has been recruiting for that position and will extend the <br />application period in attempt to gain additional applicants. She noted that interviews will occur <br />th <br />on March 16 with the new member joining in April. <br />Economic Development Authority/ February 13, 2020 <br />Page 4 of 6 <br /> <br />