HomeMy WebLinkAboutPA 2013-1 - R.I. Properties, Inc. - Exclusive Sales Listing Agreement RESOLUTION NO. 2013 — 1
RESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF NATIONAL CITY
AUTHORIZING THE CHAIRMAN TO EXECUTE AN EXCLUSIVE SALES
LISTING AGREEMENT WITH R.I. PROPERTIES, INC., DOING BUSINESS AS
RETAIL INSITE, ON A PARKING AUTHORITY-OWNED 15.08 VACANT PARCEL
LOCATED AT THE SOUTHEAST CORNER OF HIGHWAYS 805 AND 54
FOR A SALES COMMISSION EQUAL TO 5% OF THE ACCEPTED
MODIFIED GROSS SALES PRICE BUT NO LESS THAN $75,000.
WHEREAS, the Parking Authority of the City of National City ("Parking Authority")
is the owner of a 15.08-acre parcel of land located at the southwest corner of Sweetwater Road
and Bonita Center Road (Parcel No. 564-471-11) and is desirous of selling said parcel of land
for the development of a commercial project; and
WHEREAS; a Request for Proposals to provide real estate services was issued
for the vacant parcel, and five real estate firms responded in July 2008; and
WHEREAS, R.I Properties, Inc., doing business as Retail Insite, was selected to
provide real estate services for the disposition of said parcel; and
WHEREAS, the economic downturn made it difficult to yield interest for the
development of the vacant parcel from 2009 through 2012, and with changing economic
conditions, the Parking Authority can now enter into an Exclusive Sales Listing Agreement to
formally procure interest in the vacant parcel from prospective development entities.
NOW, THEREFORE, BE IT RESOLVED that the Parking Authority of the City of
National City hereby authorizes the Chairman to execute an Exclusive Sales Listing Agreement
with R.I. Properties, Inc., doing business as Retail Insite, on a Parking Authority-owned 15.08
vacant parcel located at the southeast corner of Highways 805 and 54 for a sales commission
equal to 5% of the accepted modified gross sales price, but no less than $75,000.
PASSED and ADOPTED this 15th day of October, 2013.
on Morrison, Chairman
ATTEST:
Leslie Deese, Secretary
A! OVED AS TO FORM:
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Passed and adopted by the Parking Authority of the City of National City, California, on
October 15, 2013 by the following vote, to-wit:
Ayes: Boardmembers Cano, Morrison, Natividad, Rios, Sotelo-Solis.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Parking Authority
LESLIE DEESE
Secretary, Parking Authority
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2013-1 of the Parking Authority of the City of National City,
California, passed and adopted on October 15, 2013.
Secretary, Parking Autho ity
By:
Deputy