Purpose of Case
Select a preferred real estate broker for the City of Ramsey; and, review selection process.

Case Background
This case was previously discussed on November 12, 2013; at which time, Staff was directed to conduct a Request for Qualifications (RFQ) for real estate broker services to sell City owned land in Ramsey.   Attached to this case is the RFQ document approved in November.

In summary, Staff solicited over 100 brokers to provide a response to the adopted RFQ.   The City received ten responses--which were screened for finalists.  Three finalist were selected and formally interviewed by Staff.  Overall, Staff was satisfied with the RFQ process and would like to provide a recommendation for City Council consideration.

Detailed Background
The City of Ramsey owns a large inventory of real estate available for sale and development; including commercial, retail, industrial, office, residential and mixed use properties, totaling over 150 acres on multiple parcels.  A large portion of real estate the City of Ramsey owns is known as The COR—a 300+ acre, mixed use, transit oriented development (TOD). 

Based on Council discussion and the 2013 Council Strategic Plan, it is the City’s objective is to reduce its real estate inventory—and return tax exempt properties back to the private market for development.  The primary purpose of the proposed contract for ‘Real Estate Broker Services’ is representation of the City of Ramsey from a professional real estate broker.  The critical desired outcome of the proposed relationship is the sale of City owned land.
 

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Process Outline:
Over 100 brokers were contacted regarding the RFQ for real estate broker services.  Staff utilized email, CRM forms and list serves as the primary method of solicitation.  The City received ten responses (listed below) to the RFQ.  Upon reception, Staff reviewed RFQ proposals and selected three finalists (listed below).  In an effort to streamline the RFQ process, Staff scheduled interviews as quickly as schedules permitted (listed below).  As a result, when this case was written, one of the three finalists had yet to be interviewed.  Staff will bring a recommendation to the City Council on December 10th.  If the City Council does not have enough information (or time) to make a confident decision on the 10th of December, Staff would advise pushing this case to January 14.
 

Future land proceeds.

In an effort to streamline the RFQ process, Staff scheduled interviews as quickly as schedules permitted.  As a result, when this case was written, one of the three finalists had yet to be interviewed.  Staff will bring a recommendation to the City Council on December 10th (which will include a detailed explanation).  If the City Council does not have enough information (or time) to make a confident decision on the 10th of December, Staff would advise pushing this case to January 14th.

Motion to select _______________ as the preferred real estate broker for the City of Ramsey.

NOTE: upon selection, staff will work with the preferred broker to develop a list of properties most appropriate for listing; and, a proposed 'listing strategy' for The COR.  Additionally, Staff will work with the City Attorney to develop and negotiate a preferred contractual relationship.  A subsequent case will be brought back to the City Council regarding both items on January 14 (proposed contract and listing strategy).

--OR--

Motion to table this case until January 14 (if more information or time is required).