HomeMy WebLinkAboutResolutions - No. 2007-172RESOLUTION NO. 2007-172
A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE CITY MANAGER TO ISSUE A REQUEST FOR
PROPOSAL FOR BROKERAGE SERVICES TO SELL SURPLUS
CITY -OWNED REAL ESTATE PROPERTIES, UTILIZING A TWO-
TIERED BROKERAGE FEE STRUCTURE
WHEREAS, the City -owned property located at 500 South Guild Avenue
(APN 049-250-61) was recently identified as one of the City of Lodi's underutilized
properties, consisting of approximately 9.09 acres; and
WHEREAS, staff recommends utilizing the services of a professional commercial
brokerage firm in order to obtain qualified proposals in a timely manner; and
WHEREAS, the request for proposal (RFP) will describe the brokerage services,
fees, and general land use; and
WHEREAS, for purposes of minimizing the expense related to brokerage fees, a
two-tiered brokerage fee structure is proposed; and
WHEREAS, within the first tier (property sales price is less than or equal to
appraised value), the City is soliciting proposals where it would pay up to a limited fixed
amount reflecting the actual/expected cost of advertisement and marketing incurred by
the brokerage company; and
WHEREAS, for the second tier (sales price in excess of appraised value), the
RFP indicates the City's willingness to pay a conventional fee of up to six percent (6%)
of the sale price exceeding the appraised value. Bidders will be allowed to propose lower
fees if desired; and
WHEREAS, although not encouraged, alternate proposals will be considered if
deemed advantageous to the City; and
WHEREAS, the RFP for brokerage services will be used initially in
marketing/selling the property at 500 South Guild Avenue and then applied to other
unutilized real estate properties owned by the City as identified below:
• 1119-1120 Awani Drive (APN 041-250-3$ & 041-410-01) 3.65 acres with
appraised value of $1.2 million;
• 217 East Lockeford (APN 041-220-02), 1.36 acres with appraised value of
$340,000; and
• Lease of Century Boulevard right-of-way, (west of Stockton Street) 3.06 acres
with appraised value of $400,000".
'Annual lease payment of $4kOW for this property based on appraised value.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council hereby
authorizes the City Manager to issue an RFP for brokerage services to sell the 9.09 -acre
real estate property located at 500 South Guild Avenue; the 3.65 -acre parcel at
1119-1120 Awani Drive; the 1.36 -acre parcel at 217 East Lockeford Street; and lease
the 3.06 -acre right-of-way on Century Boulevard (west of Stockton Street); and
BE IT FURTHER RESOLVED that the City Council hereby authorizes the two-
tiered brokerage fee structure as outlined above; and
BE IT FURTHER RESOLVED that, although not encouraged, alternate proposals
will be considered if deemed advantageous to the City.
Dated: August 15, 2007
I hereby certify that Resolution No. 2007-172 was passed and adopted by the
City Council of the City of Lodi in a regular meeting held August 15, 2007, by the
following vote:
AYES: COUNCIL MEMBERS — Hansen, Katzakian, and Mayor Johnson
NOES: COUNCIL MEMBERS — Hitchcock
ABSENT: COUNCIL MEMBERS -- Mounce
ABSTAIN: COUNCIL MEMBERS — None
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ANDI J L
City Cler
2007-172