4.6.
Economic Development Authority (EDA)
- Meeting Date:
- 06/14/2018
- By:
- Tim Gladhill, Community Development
Title:
Review Options for Expiring Contract with CBRE
Purpose/Background:
The purpose of this case is to consider recommending to the City Council to extend the existing contract with CBRE for real estate brokerage services for City-Owned Properties. The contract is a month-to-month contract with an expiration date of July 31, 2018. Since the City is currently recruiting for an Economic Development Manager that will be the point of contact for these services, Staff recommends extending at least six (6) months. This will allow the new Economic Development Manager to recommend a longer-term option for management of City real estate assets. Additionally, this would coincide with the 2019 EDA and General Fund Budget discussions.
Notification:
Notification is not required.
Observations/Alternatives:
For specifics of the contract itself, please see the attached contract.
Funding Source:
CBRE collects a commission fee at time of land sale deducted from the land sale price.
Recommendation:
Staff recommends extending the contract with CBRE on a month to month basis through December 31, 2018.
Action:
Motion to recommend that the City Council extend the contract with CBRE on a month to month basis through December 31, 2018.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Tim Gladhill | 06/07/2018 11:21 AM |
| Kurt Ulrich | Kurt Ulrich | 06/07/2018 11:55 AM |
- Form Started By:
- Tim Gladhill
- Started On:
- 05/23/2018 05:53 PM
- Final Approval Date:
- 06/07/2018