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Date
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June 22,
2009
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Agenda
Item No. 12 Roll
Call No. 09- Communication No.
09-411 Submitted by:
Jeb E. Brewer, P.E., City Engineer; and Don Tripp, Parks
and Recreation Director |
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AGENDA
HEADING:
Accepting proposal from Terrus Real
Estate Group for the provision of commercial real estate listing services for
the lease or sale of City-owned property located at 3226 University Avenue;
authorizing the Department of Parks and Recreation to negotiate; and the City
Manager to execute a contract for the provision of same.
SYNOPSIS:
Recommend
acceptance of a proposal from Terrus Real Estate Group, Randy Minear, President
& CEO, 616 10th Street, Des Moines, Iowa 50309 for the provision
of commercial real estate listing services for the lease or sale of City-owned
property located at 3226 University Avenue (formerly the Parks and Recreation
Administration office building); authorizing the Department of Parks and
Recreation to negotiate a listing agreement with Terrus Real Estate Group; and
upon approval as to form by the Legal Department, authorizing the City Manager
to execute the listing agreement. Any
future proposed sale of the property will be subject to City Council approval.
FISCAL
IMPACT:
Amount: Estimated range of real estate commission to
be paid is between $25,000
to $30,000.
Funding
Source: The real estate commission will be paid out
of the eventual lease or sales price obtained for the property.
ADDITIONAL
INFORMATION:
On May 14, 2009, a Request for Proposal was sent to
thirteen (13) commercial real estate brokerage firms. Two (2) submittals were received on June 2,
2009:
1. Ferguson Commercial Real Estate Services (Clive)
2. Terrus Real Estate Group (Des Moines)
On June 3, 2009, an evaluation and selection committee
was convened consisting of staff from the Parks and Recreation Department,
Office of Economic Development and the Engineering Department - Real Estate
Division. Each member of the evaluation
and selection committee individually reviewed and rated the proposals. The proposals were reviewed and evaluated
based on the following criteria:
Experience, Qualifications, and Expertise (45 points); Quality of Market
Analysis (25 points); Cost of Service (25 points); and References (5
points). Based on the scoring criteria,
the committee recommends hiring Terrus Real Estate Group for commercial
real estate listing services for the lease or sale of City-owned property
located at 3226 University Avenue. The duration of the contract will be for an
initial period of six months with an option for the City of Des Moines to renew
for two additional six-month periods.
Any
future proposed sale of the property will be subject to City Council
approval.
PREVIOUS
COUNCIL ACTION(S): NONE
BOARD/COMMISSION
ACTION(S): NONE
ANTICIPATED
ACTIONS AND FUTURE COMMITMENTS: NONE
For more information on this and other agenda items,
please call the City Clerk’s Office at 515-283-4209 or visit the Clerk’s Office
on the second floor of City Hall,