City Council

10. SELECTION OF A REAL ESTATE BROKER FOR MARKETING AND SOLICITATION SERVICES FOR APPROXIMATELY 61 ACRES OF CITY- OWNED REAL PROPERTY WITHIN NEIGHBORHOOD G (PLANNING AREAS 15-A AND 15-C) OF THE TUSTIN LEGACY SPECIFIC PLAN Request for selection of a real estate broker to provide marketing and solicitation services for approximately 61 acres of City-owned real property within Neighborhood G (Planning Areas 15-A and 15-C) of the Tustin Legacy Specific Plan. Recommendation: Authorize the City Manager to negotiate and execute a Listing Agreement with CBRE, Inc., subject to non-substantive additions or modifications as may be deemed necessary and/or recommended by the City Attorney.Fiscal Impact: There will be no impact to the General Fund given that commission to a real estate broker will be paid at the close of escrow on a land sale. The City and CBRE, Inc. have negotiated the following commission: Land Sale: 1.0% of the gross purchase price paid by future buyer