Laserfiche WebLink
WS — Item 7 <br />WORK SESSION STAFF REPORT <br />Work Session Item 7 <br />Date: January 3, 2012 <br />To: City Council <br />From: Mary Divine <br />Re: ECFE Leasing <br />Background <br />This fall Centennial School District informed the city that it was not renewing its lease <br />for the ECFE, and the program would be moving by the end of June 2012. Since then <br />staff has marketed the building in a variety of ways, including real estate websites, <br />targeted mailings and direct calls to daycare centers and public, educational and non- <br />profit agencies. Marketing has resulted in five separate showings of the facility. To date, <br />however, no showing has led to any indication of intent to lease. <br />Staff has also met with and talked to several real estate brokers who are familiar with the <br />Lino Lakes area, and also have worked with the public and non - profit sector in locating <br />and/or leasing space. Two of these brokers have also viewed the property. They have all <br />indicated that it generally can take 12 -24 months to lease a facility in this economy. <br />These brokers have additional resources and client bases that can increase the probability <br />of the building getting leased. <br />Requested Council Direction <br />Staff would like council to direct staff to select a broker to assist the city in marketing <br />and leasing the property. <br />Attachments <br />None <br />