Title/Name/Summary
HSA Commission - UCMC Project
History
HSA Commercial has assisted the Village with the marketing and deal term structuring for the Main Street Triangle/Downtown project. Their contract with the Village pays commission at the time of occupancy for the UCMC project. Because of the complexity of the deal structure (a lease to purchase), the Village has negotiated a lesser amount with Tim Blum, which totals $346,500. This amount reflects 3% of the initial 15 term lease negotiated with UCMC. Under the actual provisions of the contract, the Village would be obligated to pay $445,500 based upon the agreement reached with UCMC. HSA agreed to the lesser amount of $346,500.
Financial Impact
Funds for this payment are available in the TIF account.
Recommended Action/Motion
I move to approve the HSA commission in the amount of $346,500, for the UCMC Project.