Roers and the City of Moorhead (the “City”) have recently announced their plan to enter into a predevelopment agreement with the option for the City to purchase real estate property with Roers. The partnership will lead to identifying redevelopment opportunities for the existing Moorhead City Hall, located at the 500 block of Center Avenue in Moorhead, and surrounding City-owned property. The predevelopment agreement provides Roers Real Estate Services to take representation of City-owned property in order to explore potential partnerships, which may lead to a comprehensive redevelopment plan for the City owned property. Roers and the City have entered into a professional services agreement, therefore a public bid for the services was not required. Roers will not be compensated in any manner until a City approved plan is developed. As part of the joint venture, Roers and the City will focus on a win-win situation for all parties including the Moorhead Center Mall property owners, Downtown Moorhead Inc., residents and business owners of Moorhead. Moorhead Center Mall is privately held, therefore these properties will maintain standard operating. Both the City and Roers recognize these businesses have been vital to keep the mall a destination for the community. Roers will partner with Moorhead Center Mall property owners to identify future opportunities as plans for the City progress. Downtown Moorhead Inc. and the City of Moorhead have begun to embark on a downtown planning effort, which is currently engaging citizens and business owners in creating a vision for Downtown Moorhead. Any project concept Roers would develop for City-owned property will be consistent with the vision of the Downtown Master Plan currently being drafted. “We anticipate this partnership with the City of Moorhead is just the beginning of major growth for the entire Moorhead community. With the excitement the Moorhead residents and business owners have around the plans for revitalization in the downtown sector, there are abundant opportunities for growth. Its an exciting time for the community,” commented Jim Roers, CEO of Roers.