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<br /> <br />Item Description <br />Consider Request for Proposal's for Real Estate Service <br /> <br />Item Number <br />3.7.* <br /> <br />Prepared by <br /> <br />Tonya Love, Recreation <br />Administrative Coordinator <br />Reviewed by <br /> <br />Bill Maertz, Parks & Recreation <br />Director <br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />Consent January 16, 2007 <br /> <br />Introduction <br />City of Elk River owns 1217 5th Street property, which is located next to the Elk River Library. Originally <br />the property was purchased with the intention to possibly expand the current library. It was later <br />concluded to build a larger library at a different site. <br /> <br />Discussion <br /> <br />Five Requests for Proposal's were received from local real estate agents. Summary and individual <br />proposals are attached. <br /> <br />Financial Impact <br />Elk River purchased the property for $144,000 in November 2001. Suggested list price from the realtors <br />proposals ranged from $159,900 to $175,900. <br /> <br />Attachments <br /> <br />· Request for Proposal letter <br />· Realtor's proposals <br /> <br />· Summary of proposals <br /> <br />Action Requested <br />Staff recommends awarding Request for Proposal to lowest bidder. Reg Powell, Broker/ Owner of <br />Powell Realty submitted the lowest commission. <br /> <br />Council Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />C: \Documents and Settings \tallard\Local Settings \ Temporary Internet Files \ OLKF\Request Council Action-5th Ave Property. doc <br />