industrial parks - City of Cambridge
industrial parks - City of Cambridge industrial parks - City of Cambridge
Commissions on City-Owned Industrial Land SITES AND BUILDINGS Where the services of a real estate broker or agent is involved in the sale of City industrial property, the agent or broker must register in the office of the Economic Development Division in order to qualify for commissions. In order to achieve the appropriate registration, the following procedures are required to be followed: (a) Agents must register their client and their agency with the staff of the Economic Development Division. (b) To register a client, the Economic Development Division must receive a Client Registration Form (CRF) as provided by the Economic Development Division or have the client personally introduced by the Realtor. (c) The Client Registration Form is paramount. The most recent CRF for a specific land sale will be the one used by the Economic Development Division for allocating commissions payable. d) All Client Registration Forms received will have a termination period of 60 days unless otherwise agreed upon by the Economic Development Division. Provided that an agent or broker has properly registered a client with the Economic Development Division, the City of Cambridge agrees to pay a fee or commission based on 5% of the total sale price of the land, upon successful closing of the transaction. Should an agent or broker refer an industrial client to the Economic Development Division, and prefer not to get directly involved with the sale, the staff of the Economic Development Division shall register the referral and the City of Cambridge will agree to pay a 1% referral fee in the event of a successful closing of the purchase and sale transaction. ECONOMIC CITY DEVELOPMENT 56 OF DIVISION CAMBRIDGE
SITES AND BUILDINGS Commissions – Client Registration Form Please complete and return to the City of Cambridge, Economic Development Division - Fax: 519.740.4512 PROJECT: ______________________________________________________________________ CLIENT: Name:______________________________________Title:_______________________________ Company:______________________________________________________________________ Address:________________________________City:____________________________________ Prov.:______________ Postal Code:______________ Phone: (_______) _______________ Fax: (_______) _______________ Email: ______________ AGENT: Name: ________________________________________________________________________ Company:______________________________________________________________________ Address:________________________________City:____________________________________ Prov.:______________ Postal Code:______________ Phone: (_______) _________________ Fax: (_______) _______________ Email________________ ___________________________ _________________________________ _______________ CLIENT SIGNATURE AGENT SIGNATURE DATE The agent shall have the right to exclusively represent the client and, accordingly, will be allowed access to confidential decision-making information as well as the opportunity to negotiate collectively with the client, or on behalf of the client in his absence, for a period of 60 days from the date this form is executed. This will result in a 5% commission payable upon completion and successful closing of the transaction. When an agent or broker refers a client to the Economic Development Division, and is not directly involved with the execution of the sale, then this will constitute a referral and the City of Cambridge will agree to pay a 1% referral fee in the event of the completion and successful closing of a transaction. “Personal information contained on this form is collected pursuant to Municipal Freedom of Information and Protection of Privacy Act and will be used to register your client and allow City Staff to contact the client or agent with regards to the Offer of Purchase and Sale. Questions about the collection of personal information should be directed to the City’s Freedom of Information and Privacy Co-ordinator in the Public Access and Council Services Department at 519.740.4680 ext. 4079.” ________________________ _____________________________ _______________________________ DATE RECEIVED COM/REF. STAFF AUTHORIZATION Staff authorization confirms a ( five ) / (one) percent commission is payable on the successful closing of a Purchase and Sale transaction between the client and the City. This section to be completed by Economic Development Division staff only. This form is not legally binding unless authorized and signed by Economic Development staff. Rev: Mar. 26/07 CITY ECONOMIC OF 57 DEVELOPMENT CAMBRIDGE DIVISION
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SITES<br />
AND<br />
BUILDINGS<br />
Commissions – Client Registration Form<br />
Please complete and return to the <strong>City</strong> <strong>of</strong> <strong>Cambridge</strong>, Economic Development Division - Fax: 519.740.4512<br />
PROJECT:<br />
______________________________________________________________________<br />
CLIENT:<br />
Name:______________________________________Title:_______________________________<br />
Company:______________________________________________________________________<br />
Address:________________________________<strong>City</strong>:____________________________________<br />
Prov.:______________ Postal Code:______________ Phone: (_______) _______________<br />
Fax: (_______) _______________ Email: ______________<br />
AGENT:<br />
Name: ________________________________________________________________________<br />
Company:______________________________________________________________________<br />
Address:________________________________<strong>City</strong>:____________________________________<br />
Prov.:______________ Postal Code:______________ Phone: (_______) _________________<br />
Fax: (_______) _______________ Email________________<br />
___________________________ _________________________________ _______________<br />
CLIENT SIGNATURE AGENT SIGNATURE DATE<br />
The agent shall have the right to exclusively represent the client and, accordingly, will be allowed access to<br />
confidential decision-making information as well as the opportunity to negotiate collectively with the client, or<br />
on behalf <strong>of</strong> the client in his absence, for a period <strong>of</strong> 60 days from the date this form is executed. This will<br />
result in a 5% commission payable upon completion and successful closing <strong>of</strong> the transaction.<br />
When an agent or broker refers a client to the Economic Development Division, and is not directly involved<br />
with the execution <strong>of</strong> the sale, then this will constitute a referral and the <strong>City</strong> <strong>of</strong> <strong>Cambridge</strong> will agree to pay a<br />
1% referral fee in the event <strong>of</strong> the completion and successful closing <strong>of</strong> a transaction.<br />
“Personal information contained on this form is collected pursuant to Municipal Freedom <strong>of</strong> Information and<br />
Protection <strong>of</strong> Privacy Act and will be used to register your client and allow <strong>City</strong> Staff to contact the client or<br />
agent with regards to the Offer <strong>of</strong> Purchase and Sale. Questions about the collection <strong>of</strong> personal information<br />
should be directed to the <strong>City</strong>’s Freedom <strong>of</strong> Information and Privacy Co-ordinator in the Public Access and<br />
Council Services Department at 519.740.4680 ext. 4079.”<br />
________________________ _____________________________ _______________________________<br />
DATE RECEIVED COM/REF. STAFF AUTHORIZATION<br />
Staff authorization confirms a ( five ) / (one) percent commission is payable on the successful closing <strong>of</strong> a<br />
Purchase and Sale transaction between the client and the <strong>City</strong>.<br />
This section to be completed by Economic Development Division staff only. This form is not legally binding unless<br />
authorized and signed by Economic Development staff. Rev: Mar. 26/07<br />
CITY ECONOMIC<br />
OF 57 DEVELOPMENT<br />
CAMBRIDGE DIVISION