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Property Management on Highway 10 Parcels <br /> <br />By: Sean Sullivan, Economic Development / TIF SpeCialist · <br /> James E. Norman, City Administrator <br /> <br />CASE # <br /> <br />Iq <br /> <br />Background: <br /> <br />In September of 2005 the City purchased the property known, as the NAU building <br />through RALF Funding. The building included two areas that are suitable for leasing. <br />As the City continues to acquire properties in the Highway 10 corridor it will determine <br />which ones will continue to operate at a profit or breakeven point for the City. To ensure <br />that these buildings remain in service Staff is recommending that the City retain a <br />property 'manager for the buildings along Highway 10. The eurrent proposal would be to <br />hire Premier Commercial Properties, Inc. to operate the NAU building per the terms <br />described in the attached contract. The building currently houses a storage operation for <br />boats and RV's. The front of the building could be leased out for an office/showroom <br />user. The Property Manager would be in place to market the vacant space and to manage <br />existing tenants. <br /> <br />Recommendation: <br /> <br />Enter into a Property Management Agreement in the attached form contingent on City' <br />Attorney approval. <br /> <br />Council Action: <br /> <br />Approve attached amended Property Management Agreement contingent On City <br />Attorney approval. <br /> <br />Reviewed by: <br />Community Development Director <br />City Attorney <br /> <br />12.13.05 <br /> <br />-530- <br /> <br /> <br />