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City picks CBRE to consult on 201 Highland redevelopment; commissioners debate retainer and timeline
Summary
Largo awarded CBRE a redevelopment consulting contract for the 201 Highland Avenue site but several commissioners voiced concern about the retainer structure and potential long-term cost if a developer is not identified within 18 months.
The Largo City Commission voted July 15 to award RFQ 25Q832 — continuing redevelopment consulting services for the 201 Highland Avenue site — to CBRE. The contract authorizes a monthly retainer (initially $13,000 per month) with a maximum cap; if the scope later includes relocation services for the Largo Police Department the retainer would increase and the city-authorized maximum would rise to $279,000.
City staff told the commission CBRE was selected from responses to the procurement based on comparable projects and relevant experience with complex, multi-parcel redevelopment that can include public-private partnerships and potential building relocations. The redevelopment assignment follows a 2024 voter referendum authorizing sale of the 14-acre site, which is composed of three parcels: City Hall, Police Department and the Emergency Operations Center.
Why the retainer drew scrutiny Commissioner DeBreeze and others said they support CBRE’s qualifications but questioned paying a sizable monthly retainer up front. DeBreeze said she would prefer a stronger performance-based structure and flagged the possibility that, if no developer is identified within the initial 18-month period, the city could have paid as much as $234,000 without a development agreement.
City staff responded that the contract includes defined deliverables (market analysis, financial modeling, site planning, RFP preparation and market engagement) and that CBRE incurs costs while performing those services. Staff also noted contract provisions that would allow termination (30-day termination clauses) and that CBRE would refund 50% of the retainer fees from developer-paid commissions should a development agreement close and commissions be paid.
Project timeline and next steps Staff said the contract would start immediately if the award is approved. The scope envisions five phases: due diligence (market analysis, financial modeling, site planning), market engagement (RFP and outreach), award of an RFP (expected by August 2026 under staff’s schedule), execution of a development agreement no later than May 2027, and an optional post-transaction oversight phase if the commission later approves it.
Commissioner comments and vote Commissioners asked whether CBRE’s compensation structure was customary; staff said the model was consistent with similar redevelopment engagements in other jurisdictions. Some commissioners emphasized urgency and the limited pool of firms capable of handling this scale of redevelopment; others stressed caution about committing retainer dollars absent stronger performance milestones.
The motion to award the RFQ to CBRE passed with recorded dissent. The contract includes a refund provision that returns 50% of commissions to the city from developer-paid commissions and requires commission authorization for any expenditures beyond the approved cap.
Speakers quoted "They stand to make millions on this deal," Commissioner DeBreeze said during debate, noting discomfort with a monthly retainer paid before a development deal is closed. City staff said CBRE will perform market and due-diligence work that incurs costs and that the contract contains termination clauses and refund mechanics.
Sources: Largo City Commission transcript, July 15, 2025 (presentation and commissioner discussion).
