HomeMy WebLinkAboutRDA APPT OF BROKER 08-20-90DATE:
TO:
FROM:
SUBJECT:
r
AUGUST 20, 1990
REDEVELOPMENT AGENCY NO. 5
8-20-90 -
Inter- Com
WILLIAM A. HUSTON, EXECUTIVE DIRECTOR
COMMUNITY DEVELOPMENT DEPARTMENT
APPOINTMENT OF BROKER - CITY HALL RELOCATION
RECOMMENDATION
It is recommended that the Agency: 1. Approve and authorize the
Executive Director to sign the Authorization to Represent with Daum
Commercial Industrial Real Estate; and 2. Authorize the Executive
Director to select a final relocation site and negotiate terms of
a proposed lease, subject to final approval by the Agency.
BACKGROUND
As the Agency is aware, the staff have been searching for
relocation site within the City to relocate city hall operations
during construction of the expansion to the Civic Center. We have
been informally reviewing the market and obtaining information from
a particular broker with Daum. In order for the broker to more
adequately market and represent that he is acting on our behalf in
searching for a city hall facility and to allow him to do more
proactive analysis of specific locations, it is not uncommon to
enter into an agreement authorizing the firm to represent the
Agency. A copy of such an agreement approved by the City
Attorney's office is attached. Provisions of the agreement places
the selection and terms of any site found in the Agency's sole
discretion. In addition, the Agency would have no obligation to
pay a broker's commission, fee or any other compensation to Daum.
In conjunction with any interactions with the Broker, the Agency
would also request authorization to negotiate for an actual
relocation facility. Facilities currently being examined range in
size from 20,500 to 25,00 square feet and must be handicap
accessible (include elevator facilities). Given an expected 30-36
month lease term, staff would be attempting to negotiate the most
advantageous lease rate possible. 1990-91 costs have been budgeted
as part of the Redevelopment Agency Budget. Any lease agreement
negotiated would come back to the Agency for final approval.
Christine A. Shingle,t n
Director of Community Development
CAS:kbc/ccrpt/broker.cas
0,
DATE: August 2, 19 9 0 (ita Inter - Com
TO: CHRIS SHINGLETON, DIRECTOR, COMMUNITY DEVELOPMENT
FROM: CITY ATTORNEY
SUBJECT: AGREEMENT WITH REALTOR
Enclosed is a form of Authorization I would find satisfactory
and appropriate.
If you have any questions please ontact me at once.
J ROURKE
CITY ATTORNEY
JGR:kbg:D:8/2/90(a/L8)
cc: WH
I
AUTHORIZATION TO REPRESENT
1. The undersigned hereby appoints DAUM Commercial Industrial
Real Estate ("Broker") as the undersigned's broker and grants
Broker the right to assist the undersigned in order to facilitate
and coordinate its efforts to locate new facilities for lease or
purchase. This Authorization commences on the date of this
Agreement and terminates at midnight November 1, 1990.
2. Broker agrees to use its best efforts to locate a facility
satisfactory to the undersigned. Broker's services will include
the solicitation, screening and analysis of locations and may
include the solicitation of cooperation of other real estate
brokers. Broker will use its best efforts to obtain complete
details on all contemplated and/or available locations which will
be suitable for the undersigned's needs. Broker is authorized to
submit the undersigned's name to landlords or sellers and their
agents as a prospect.
3. The undersigned will advise Broker of inquiries and offerings
received by the undersigned, whether from principals, other
brokers, agents or other persons. The selection of a facility and
all terms shall be subject to the sole approval of the undersigned.
Broker will look only to the landlord or seller, as the case may
be, for the Broker's commission, fee or compensation.
4. The undersigned will have the right and option at any time it
is dissatisfied with Broker's performance to terminate this
agreement without further obligation to Broker.
ACCEPTED:
DAUM Commercial Industrial BUYER/LESSEE
Real Estate
CITY OF TUSTIN
By
Dated
Street
City
Telephone
JGR:kbg:R:8/2/90(a-22)
By
Dated
Street 300 Centennial Way
City
Tustin, CA 92680
Telephone 714) 544-8890