City Council Minutes 06-13-2005 SpecialMINUTES
SPECIAL MEETING - MONTICELLO CITY COUNCIL
Monday, June 13, 2005 - 6 p.m.
Members Present: Clint Herbst, Wayne Mayer, Tom Perrault, Glen Posusta and Brian Stumpf.
Members Absent: None
1. Call to Order.
Mayor Herbst called the meeting to order at 6 p.m. The purpose of the special meeting was to
provide Colliers International an opportunity to make a presentation on the marketing of the City
owned industrial land, Otter Creek Crossing.
2. Presentation by Colliers International.
Ron Scholder, Josh Huempfner and Chris Little representing Colliers Turley Martin Tucker were
present at the meeting to provide information about their firm. Colliers is an international
organization with 40 agents in the metropolitan area. Colliers would act as a broker for the
development and would market the City's land to potential prospects. Colliers does not do
development projects but rather markets the development for the owner. Their firm has access
to appraisal databases as well as other marketing tools. It was noted that the internet has
become an important tool in marketing and their firm would utilize the internet in their
marketing plan for the City property. Should the City go with Colliers to do the marketing, Ron
Scholder would be the City's contact person.
Since Colliers is an international company, they have the ability to market to the City's property
to a wide ranging field of prospects. Darrin Lahr asked about the procedure Colliers would use.
Colliers would list the property, they would negotiate for the City and they would prepare a
marketing plan for Otter Creek Crossing which would be reviewed by the City before being
implemented.
Brian Stumpf felt that with the price the land was being offered for and the other incentives the
City could provide such as TIF, the land was very marketable and he questioned the need for a
broker.
Glen Posusta asked if it was wise for the City to sell the land at $1.00/sq. ft. The Colliers
representatives felt before a decision was made on a selling price, they would do a further
analysis. 011ie Korpochak noted the $1.00/sq. ft. was with TIF incentives included and not in
addition to TI F. Darrin Lahr pointed out that the industrial park was set up with certain criteria
and firms proposing to come into the industrial park would have to meet that criteria.
The representatives from Colliers left copies of their proposal. Mayor Herbst then closed the
special meeting.
Recording Secretary