The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate signs on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate Signagesignage on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate Signagesignage on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate signs on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate Signagesignage on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate signs on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.

The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019.  The EDA then met again on April 11, 2019 to discuss the matter further.  On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following. 
 

1. Removing parcels outside of the COR from the listing agreement
2. Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)

A proposed contract with revised language is attached for review. 

Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019.  Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels.  CBRE utilizes many proven marketing methods such as:

• Real Estate signs on site,
• Online listings such as MNCAR (internet) and
• Connection to the broker community.  

With the current contract coming up for renewal in July 2019 (can be canceled with 30 day notice), Staff believes it is important to review the current contract, its terms and conditions, and to determine if a renewal is prudent or to explore other options. The original contract and pertinent amendments are attached to this case.

Having a company like CBRE market city properties to its broker community and clients has its advantages.  CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful.  Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014.  A closing is scheduled for May 3 for Parcel 6 (Muni Site).

Currently, the City has seventeen City owned properties listed with CBRE including seven under contract.  Eleven of these properties are in the COR and the rest are scattered across the community. 

In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year.  The City of Ramsey is included in this partnership and has the opportunity to list its properties 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.

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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

Alternatives include, but are not limted 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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. CBRE is entited 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

Alternatives include, but are not limted 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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. CBRE is entited 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

Alternatives include, but are not limted 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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. CBRE is entited 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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. 

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 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
• Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
• Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)

2. The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
3. Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
4. 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
5. 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. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
6. 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.