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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. In addition, Staff has negotiated a reduction of commission <br />from 5% to 3% for City generated leads on CBRE listed property. <br />Recommendation: <br />The EDA met on January 13, 2022 and recommends approval of the extension of the Listing Agreement for City <br />Owned Property with CBRE from February 1, 2022 - January 31, 2023. <br />Action: <br />Motion to adopt Resolution #22-031 Approving Listing Agreement for City Owned Land with CBRE as presented; <br />subject to City Attorney Review <br />ACTION - Resolution #22-031 <br />ACTION - 2022 CBRE Listing Agreement <br />Parcel Number COR Listing Map <br />CBRE Property Listing Activity <br />CBRE Sign locations <br />CBRE Listing Agreement (Reference) <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Sean Sullivan (Originator) Sean Sullivan 01/18/2022 05:25 PM <br />Brian Hagen Brian Hagen 01/19/2022 10:27 AM <br />Kurt Ulrich Kurt Ulrich 01/19/2022 03:10 PM <br />Form Started By: Sean Sullivan Started On: 01/18/2022 09:24 AM <br />Final Approval Date: 01/19/2022 <br />