Board resists broker's request to be paid commission before ground‑lease execution
Colliers asked the CRA to renegotiate its listing agreement to receive commission earlier; commissioners said the agreement calls for payment upon execution of ground leases and declined to agree to an up‑front payment while leases remain unexecuted.
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Board members discussed a request from Colliers (the CRA’s broker) to renegotiate the commission schedule and receive payment before ground‑lease execution. Commissioners noted the original agreement tied broker compensation to execution of a ground lease and pointed out the project phases could span years, which Colliers said could delay their compensation. Several board members said they would not agree to pay the broker before contract execution and suggested holding Colliers to the original terms; board members also said any change should be considered only after a full review and without preemptive payment.
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