City Council

10. SELECTION OF A REAL ESTATE BROKER FOR MARKETING AND\nSOLICITATION SERVICES FOR APPROXIMATELY 61 ACRES OF CITY-\nOWNED REAL PROPERTY WITHIN NEIGHBORHOOD G (PLANNING\nAREAS 15-A AND 15-C) OF THE TUSTIN LEGACY SPECIFIC PLAN\nRequest for selection of a real estate broker to provide marketing and\nsolicitation services for approximately 61 acres of City-owned real\nproperty within Neighborhood G (Planning Areas 15-A and 15-C) of the\nTustin Legacy Specific Plan.\nRecommendation: Authorize the City Manager to negotiate and execute a\nListing Agreement with CBRE, Inc., subject to non-substantive additions\nor modifications as may be deemed necessary and/or recommended by\nthe City Attorney.Fiscal Impact: There will be no impact to the General\nFund given that commission to a real estate broker will be paid at the\nclose of escrow on a land sale. The City and CBRE, Inc. have negotiated\nthe following commission: Land Sale: 1.0% of the gross purchase price\npaid by future buyer