FINANCIAL_SERVICESRECOMMENDED

City of Franklin Meeting Agenda April 28, 2026

Brokerage and management for City Hall retail spaces

Leasing commission up to 6% of total contracted base rent; 4% if tenant unrepresented; management fees greater of $600/month or 5% of monthly gross receiptsCity of FranklinHAMILTON YOUNGApril 28, 2026

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Description

Franklin officials are asked to approve Resolution 2026-16 authorizing COF Contract No. 2026-0155 with Hamilton Young for commercial brokerage and property management services for three commercial spaces in the new City Hall Redevelopment Block. The 10‑year agreement pays leasing commissions of up to 6% of base rent and ongoing management fees funded from tenant lease revenues.

Contract Details

Contract Amount

Leasing commission up to 6% of total contracted base rent; 4% if tenant unrepresented; management fees greater of $600/month or 5% of monthly gross receipts

Vendor

HAMILTON YOUNG

Agency

City of Franklin, TN

Contract Type

FINANCIAL_SERVICES

Document Date

April 28, 2026

Contract Term

Management services for 10 years from date of Certificate of Occupancy; leasing commissions paid 50% within 30 days of lease execution and 50% within 30 days of tenant opening

Renewal Info

Initial term includes 10 years of property management services; any future amendments must not increase City cost and would require additional authorization.