City Council Regular Meeting - Includes Action Taken
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Richard Wilkie, Economic Development/Airport Manager
Finance Director Review:
City Attorney Review:
Type of Action Requested:
Listing agreement with Land Advisors and Airport Property Specialists, LLC for Phase III of the Donovan M. Kramer Sr. Air Park.
Staff recommends the Mayor and City Council renew the contract with Land Advisors and Airport Property Specialists, LLC, to provide commercial brokerage service for Phase III of the Donovan M. Kramer Sr. Industrial Airpark.
The City of Casa Grande owns approximately 48 acres of shovel ready property in phase III of the Donovan M. Kramer Sr. Industrial Airpark. The industrial park is currently home to over 25 companies ranging from local contractors to international manufacturing facilities. Phase III improvements opened up 25 new shovel-ready lots ranging from 2-3.25 acres, all of which can be combined to accommodate larger sites (up to 16 acres). The airpark’s build-to-suit industrial property features the ability to have through-the-fence access to the City’s general aviation airport.
On July 20, 2015 the Council renewed an exclusive commercial brokerage agreement with Land Advisors and Airport Property Specialists, LLC. This agreement was extended again on March 7, 2016 to July 20, 2016. Currently Land Advisors and Airport Specialists, LLC, are engaged in negotiations with two more prospective buyers for another up to 16 acres.
The cost of this contract will not exceed 6% of the total selling price of the parcels that are sold during the term of this contract, so no General funds will be required.
Deny request and go back out with RFQ to identify another possible brokerage company to represent the city’s AIP property, or attempt to market the land using city staff. However, by denying the request the city would stand to lose the potential buyers Land Advisors and Airport Property Specialists are currently engaged with.
ORD - 2ND AMENDMENT TO AIRPORT LISTING AGREEMENT
Co-Listing Agreement AIP
Listing agreement AIP
Listing agreement AIP 2nd Amendment
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