City-Owned Propert Finder’s Fee Guidelines
The Stewartville Economic Development Authority, in cooperation with the Stewartville City Council (collectively “the City”) will offer a 5% Finder’s Fee (the “Finder’s Fee”) to any licensed real estate agent or broker (hereinafter referred to as the “Broker”) who successfully closes on the sale of city-owned property for private commercial or industrial use.
Requirements & Restrictions
- 5% of the final land sale price paid to the City will be paid, upon or following a successful closing on the sale of such city-owned property for private commercial or industrial use, by the City to the Broker.
- Only one Finder’s Fee will be paid by the City for each qualifying land sale transaction. In the event multiple parties are eligible to claim the Finder’s Fee, it will be paid in equal shares to each qualifying party as provided herein, totaling 5% of the final land sale price paid to the City.
- Utilizing this Finder’s Fee will not prevent or limit other public incentives that may be otherwise available to the ultimate property owner or lessee.
- The fee will only be paid upon closing of the sale of city-owned commercial and industrial property, with the purpose of sale being the building of a privately owned business.
In order to receive payment, Broker must:
- Show proof that the ultimate end-user of the property conforms with all city ordinances and policies.
- Be in good standing with the City at the time of payment. Payment will not be made to anyone who has unpaid taxes, fees, utilities, and the like or has any outstanding violations in the City.
- Give adequate notice to the City so that all necessary approvals can be made.
City employees, members of the City Council, commissions, and boards, as well as other agents of the city and their family members are ineligible to receive the Finder’s Fee.