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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br /> <br />Budeet <br /> <br />Requested By: Tim Tietjens <br /> <br />Source of Funds: Community Investment <br /> <br />Department: Planning <br /> <br />Account Number: 036-6061-565-5007 <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />x <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Ordinance <br /> <br />Amount Requested: $19,700.00 <br /> <br />Exhibits: <br /> <br />Proposal <br /> <br />Budgeted Item: YES NO_X_ <br /> <br />Exhibits <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />With the recent economic downturn in the housing market, four ofthe five homes constructed with the <br />Northside Neighborhood RO.M.E. grant remain unsold. The attached proposal from La Porte Main <br />Properties, Inc. outlines services they will provide to market the remaining homes, which include listing <br />the properties through the Multiple Listing Service. <br /> <br />Main Properties will market the properties through December 2009, for a commission rate of 5%. One <br />property will be listed for $100,000; three properties will be listed for $98,000 each. <br /> <br />Harris County Community Services Department is drafting an amendment to our current agreement that <br />would allow for the City to be reimbursed up to 3% of the Commission fee assessed by Main Properties. <br /> <br />Action Required bv Council: <br /> <br /> <br />authorizing the City Manager to execute an agreement with La Porte Main Properties, Inc. to <br />certain real estate services to facilitate the sale of up to four homes in the Northside <br />hood Program, and appropriating a sum of up to $19,700.00 for said purposes. <br /> <br />r; 11 !Ol <br /> <br />Date ( <br />