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Council approves $700,000 brokerage contract for downtown parcels amid floodplain concerns for 415 West Washington
Summary
Council approved a professional services agreement with CBRE to market the Cline lot and 415 West Washington and appropriated $700,000; some public commenters urged excluding 415 West Washington because much of the site lies in the Allen Creek floodplain and floodway.
The Ann Arbor City Council on Feb. 18 approved a professional services agreement with CBRE for brokerage services to market the city-owned Cline lot and 415 West Washington, and appropriated $700,000 for the work (CA 15). The motion was moved by Council Member Malek and seconded by Council Member Adena and was approved by the council.
Scope and contract terms: City administration said it ran separate procurement processes for the two parcels and selected CBRE. The administration negotiated a flat-fee structure rather than a percentage-of-sale commission because percentage proposals could have yielded substantially higher fees depending on sale prices; the city anticipates paying…
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