RESOLUTION NO. 882
A RESOLUTION OF THE CITY OF UNIVERSITY PLACE, WASHINGTON, APPROVING AN EXCLUSIVE BROKERAGE AGREEMENT WITH JEFF KRAFT OF KIDDER MATHEWS, FOR A TERM THROUGH DECEMBER 2020
WHEREAS, in spring of 2010 the City executed an Exclusive Sale Listing Agreement and an Exclusive Lease Listing Agreement with Jeff Kraft as broker to sell and lease the City property within the University Place Town Center Overlay Zone; and
WHEREAS, Jeff Kraft’s work resulted in the current active development within the City-owned portions of Town Center; and
WHEREAS, the City’s agreement with Kidder Mathews for Jeff Kraft’s work expires on December 31, 2018; and
WHEREAS, there are still Lots in City title described in the University Place Town Center Site Plan contemplated by the City for sale, and the north retail space within the University Place Civic Building and the Pierce County Library Expansion Space are still contemplated by the City for lease; and
WHEREAS, in addition, the City has certain property which has been or may be declared surplus to the City’s needs, and the proposed Exclusive Brokerage Agreement would allow Kidder Mathews to market any City property formally designated by resolution of the City Council as surplus to the City’s needs; and
WHEREAS, based on the capabilities of Kidder Mathews and the past performance of Jeff Kraft, staff recommends entering into an Exclusive Brokerage Agreement with Jeff Kraft of Kidder Mathews through the end of 2020;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PLACE, WASHINGTON, AS FOLLOWS:
Section 1. Incorporation of Recitals. The recitals are hereby incorporated herein as if set forth in full.
Section 2. Approval of Form of Documents. The City Council hereby approves execution of the Exclusive Brokerage Agreement in substantially the form of the document accompanying this Resolution.
Section 3. Completion of Transaction. The City Manager is authorized to take and execute any additional measures or documents that may be necessary to complete this transaction, which are consistent with the approved form of documents attached to this Resolution, and this Resolution.
Section 4. Effective Date. This Resolution shall be effective immediately upon adoption by the City Council.
ADOPTED BY THE CITY COUNCIL ON DECEMBER 3, 2018.
Kent Keel, Mayor
Emelita J. Genetia, City Clerk
APPROVED AS TO FORM:
Matthew S. Kaser, City Attorney