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2017.11.01 EDC
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2017.11.01 EDC
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Community Assets & <br /> Development Department <br /> <br /> MEMORANDUM <br /> <br /> <br />DATE: November 1, 2017 <br /> <br />TO: Economic Development Commission <br /> <br />FROM: Janice Gundlach, Asst. Director of Community Assets & Development/Planning Director <br /> <br />SUBJECT: Consider Extending Agreements with Ryan Companies and Colliers International for <br />Redevelopment and Brokerage Services in New Brighton Exchange <br /> <br />The City has agreements with Ryan Companies and Colliers International (or Welsh Companies) for <br />redevelopment and brokerage services respectively. These agreements were enacted in 2011 and provide <br />the terms under which Ryan Companies and Colliers International provide services to the City on <br />development in the New Brighton Exchange. These agreements are both slated to expire at the end of <br />this year. Being Block B remains undeveloped, the City, Ryan Companies, and Colliers have agreed to <br />extend the agreements two additional years. The extensions should allow adequate time to realize <br />development of Block B on the east side of Old Highway 8 NW in New Brighton Exchange. Development <br />of Block B is largely dependent on a future user’s willingness to be on a dump and the MPCA’s acceptance <br />of a clean-up plan. These details can be discussed at a future Commission meeting. <br /> <br />Staff has attached the proposed extensions for both Ryan Companies and Colliers. The agreements <br />preceding the proposed extensions are also provided for historical context. <br /> <br />The past agreements and proposed extensions are outlined below: <br /> <br />Ryan Companies <br />June 28, 2011: Original Redevelopment Services Agreement was executed. The agreement outlines <br />services rendered, key personnel, fees, and other related items. This agreement is “non-binding” meaning <br />a user in New Brighton Exchange is not required to use Ryan Companies as their developer/contractor. <br />The term of the agreement was 3.5 years, expiring on December 31, 2014. <br /> <br />November 25, 2014: 1st Amendment to the Redevelopment Services Agreement was executed. This <br />amendment extended the term to December 31, 2017 and amended the key personnel involved in <br />providing services. <br /> <br />November 14, 2017: Tentative date for City Council authorization on the 2nd Amendment to <br />Redevelopment Services Agreement, dependent on the Commission’s recommendation. This <br />amendment would extend the term to December 31, 2019. The rest of the terms remain unchanged. <br /> <br /> <br />
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