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MAYOR <br />Bill Blesener <br />COUNCIL <br />Rick Montour <br />John Keis <br />Michael McGraw <br />Shelly Boss <br />515 Little Canada Road, Little Canada, MN 551174600 <br />(651) 766-4029 / FAX: (651) 766-4048 ADMINISTRATOR <br />www.ci.little-canada.mn.us Joel R. Hanson <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: July 18, 2014 <br />RE: For Sale Listing of 3046 Labore Road <br />With very minimal activity on the possible sale of 3046 Labore Road, staff is presenting <br />you with the option of listing the property with a local realtor. Bob Pedersen & Scott <br />Barraclough were contacted to provide a proposal for listing fees. The following <br />proposals were received: <br />Pedersen: 4.7% with 2.7% of that amount going to the buyer's broker and no additional <br />administrative fees. <br />Barraclough: 5.0% <br />Both realtors indicated $120,000 was a reasonable asking price. A higher price may be <br />possible, but it will likely take longer to sell. Mr. Pedersen provided a recent history of <br />lot sale prices for your consideration (attached). <br />If the lot sells for the $120,000 figure, we would pay approximately $6,000 in fees <br />(slightly less under Mr. Pedersen's proposal). Based on our costs into this property, we <br />would end up in a positive position. <br />The Council should provide direction as to you interest in this option. <br />cc: Bob Pedersen <br />Scott Barraclough <br />