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Council approves $77,000 EDC advisory and brokerage agreement despite objections over procurement and intermediary language
Summary
Trophy Club council approved a professional services agreement with Catalyst Commercial and Core Location Advisors (not to exceed $77,000, plus a 4% disposition fee) after debate over an 'intermediary' disclosure and the lack of an open RFP; councilmember Dennis voted against the motion.
The Trophy Club Town Council on Jan. 12 approved a professional services agreement between the town, the Trophy Club Economic Development Corporation (EDC), Catalyst Commercial Inc., and Core Location Advisors LLC for economic development advisory and real estate brokerage services.
The contract approves advisory services capped at $5,500 per month for up to 14 months (included within a not-to-exceed $77,000 total) and allows a 4% disposition/brokerage fee on the gross sale price if Core Location advises on and brokers a…
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