7.4. EDSR 09-20-2021 City of
Elk �-- Request for Action
River
To Item Number
Economic Development Authority= 7.4
Agenda Section Meeting Date Prepared by
General Business September 20, 2021 Brent O'Neil, Economic Development Director
Item Description Reviewed by
Brokerage Services for EDA Properties Cal Portner, City Administrator
Reviewed by
Action Requested
Approve issuing a Request for Proposals (RFP) for broker services and designate commissioners to
review responses with staff.
Background/Discussion
Following recent discussions by the EDA regarding the list prices of EDA-owned properties, enlisting
the services of a licensed broker was considered as a way to optimize pricing and marketing of the
properties. Staff has drafted an RFP to obtain proposals from interested and qualified brokers. Staff
recommends releasing the RFP and working with two or three commissioners to review responses. Any
contracting with a broker on EDA properties would require approval from the full EDA at a future
meeting.
Financial Impact
N/A
Mission/Policy/Goal
EDA projects may include such activities as acquiring, developing,improving, and disposing of property,
entering into contracts,and operating and maintaining public affairs.
Attachments
■ Draft RFP for Broker Services
The Elk River Vision
A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r
service, and community engagement that encourages and inspires prosperity ,g /` UR
Request for Qualifications & Proposals for
Real Estate Listing and Development Services for Economic
Development Properties in
Elk River, Minnesota
Overview and Request
The Elk River Economic Development Authority(EDA) owns properties within the City of Elk
River for commercial and industrial development. The EDA is considering the use of real
estate brokerage services for listing and marketing three of its sites.The EDA is requesting
proposals and qualifications from brokers interested in providing real estate services for the
following properties.
Site A: PID#75-757-0105, also known as 17610 Tyler Street NW, Elk River. Site A zoning
allows traditional business arkuses -see city code Sec. 30-1587, Sub. (1) and Sec. 30-1295.
Site B: PID#75-820-0105, also known as 10835 170th Avenue NW, Elk River. Permitted uses
for Site B are listed in Sec. 30-1587, Sub. (8). Site A is 12.13 acres. Site B is 4.69 acres.
Site C. PID#75-597-0105 and PID#75-597-0110, also''known as 13566 185th Avenue NW and
13530 185th Avenue NW, Elk River. Site C is zoned for C-3 uses and is comprised of two
contiguous parcels.The EDA is most interested in marketing these properties together as a
single site. Site C is 3 acres is with the two parcels combined.
The EDA has expressed a desire to target highest and best uses for these sites and may
determine that not all possible uses of the site meet EDA objectives. The EDA has further
expressed it envisions a Class I restaurant (per zoning Sec. 30-1) as the most preferred use of
Site C; however, it may include other preferred uses in a broker representation agreement.
Services Requested but not limited to:
The Elk River EDA seeks a licensed commercial real estate professional or firm to provide the
following:
1. Commercial Real Estate Listing services.
2. Marketing and outreach to statewide and regional markets, including targeted
sectors.
3. Assist with project pricing for various development scenarios.
4. Negotiate sales and oversee a successful sale of the property.
5. Facilitate and direct prospects to available economic development assistance.
6. Coordinate and direct the various professionals necessary to complete and close a
sale.
7. Provide detailed reporting to the city throughout the listing period.
8. Additional services as recommended by your firm or requested by the city.
Information Requested
Please provide the following information in your proposal:
1. Description of your firm and how it is organized, including the location of your
primary office(s) which serve the Elk River area.
2. Description of the range of services provided by your firm.
3. Description of your firm's capabilities with respect to these specific parcels.
Please including the following:
■ Specialization in the allowed and preferred land-uses for the EDA's sites.
■ Experience working with government entities.
4. Provide examples of relevant or similar projects that your firm has undertaken.
S. Describe your firm's experience and familiarity with the Elk River market.
6. If your firm intends to utilize co-listing or shared commissions on this project,
please describe these arrangements and their benefits to the project.
7. Describe how you intend to communicate with EDA and city staff, and how you
and staff may best co-promote the sites.
Identify the team members you intend to assign to this project, including the
primary representative for each of the sites, and provide their background and
references.
:=9. Provide a copy of the document and/or term sheet that you prefer to use as an
agreement between the parties,which must include a fee structure and length of
proposed representation term.
10. Provide a description of how you will provide marketing and outreach to;
statewide, and regional, markets.
11. Add additional information that you feel is appropriate.
Other Relevant Information
Access to the sites and maps/aerial photographs may be granted by contacting EDA staff(see
contact info below) and scheduling an appointment.
At its discretion,the EDA may select one broker to represent all sites or select an individual
broker/firm on a site-by-site basis as it best sees fit. The EDA may also determine that not all
sites should be listed at this time.
The EDA desires execution of an agreement as soon as practical.
The EDA is a public entity subject to state law governing procurement, public meetings, and
the open dissemination of information deemed public.
The city reserves the right at any time and for any reason to cancel or to modify the scope of
this Request for Qualifications and Proposals and to reject any or all proposals received. The
city shall not be liable in any way for the costs incurred by the respondents in replying to this
Request for Qualifications and Proposals.
All properties have access from existing city streets and are served by city sanitary service.
Water and electricity services are provided to the site by Elk River Municipal Utilities.
Additional information on these properties is available on the city's economic development
webpage: www.econdev.elkrivermn.gov
Submission and Selection Schedule
Qualifications and proposals shall be submitted by . Up to three (3) candidates
may be selected for interviews,tentatively planned for the week of . The format
of potential interviews (in-person,videoconference, phone) has yet to be determined.A final
decision will be made by the EDA, and engagement will occur after an agreement to provide
the requested services is negotiated and executed by both the EDA and broker.
Please address your proposals to the City of Elk River and deliver seven (7) copies and one (1)
electronic copy to Brent O'Neil, Economic Development Director, prior to 4:30 p.m. on
to the following address:
Brent O'Neil
Economic Development Director
13065 Orono Parkway'`
Elk River, MN
(763) 635-1042
Email: boneilCa�elkryermn.gov
Proposals received after the deadline may be rejected at the discretion of the EDA. ``