The successful brokerage firm will be required to complete the following tasks, including but not limited to: 1. Perform Market Analysis: Analyze the hotel market to provide insights into trends, values, and opportunities. 2. Develop a Broker’s Opinion of Value (BOV): Provide an up-to-date BOV of the hotel property asset. Contracts & Procurement Division City Hall, 215 SE 7th St., Room 60 Topeka, KS 66603 procurement@topeka.org Tel: 785-368-3749 Fax: 785-368-4499 Page 2 of 5 3. Develop Sale Strategies: Formulate strategies and deal structures to attract potential buyers and effectively sell the City-owned hotel property, considering the property's current condition. A. Provide ways to structure the transaction from the perspective of buyers, including the pros and cons of each deal structure. B. Comment on the ability for the TDC to obtain detailed claw-back sale provisions that allow the City to reclaim the asset should prospective buyers not followthrough on their contractual obligations to renovate the hotel property. C. Provide TDC staff with feedback on potential incentives to attract an owner operator, including but not limited to IRB, tax exemption, CID, capturing of TGT increment, etc. D. The City acknowledges the current condition of the hotel property and is prepared to negotiate relevant and appropriate incentives to balance the interests of both parties. The brokerage firm should be prepared to provide input to the City to identify and implement such incentives as needed...
