TO: Mayor and City Council
THROUGH: Keith Stahley, City Manager
FROM: Kristin Retherford, Director, Community Planning and Development Department
SUBJECT:
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Purchase and Sale Agreement with 49th AVE SE LLC for acquisition of real property located at 1325 49th Avenue SE as a future park.
Ward(s): 2
Councilor(s): Nishioka
Neighborhood(s): SEMCA
Result Area(s): Natural Environment Stewardship; Safe and Healthy Community; Welcoming and Livable Community.
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SUMMARY:
summary
Staff approached 49th AVE SE LLC (Seller) (Christopher Weddle, Member) regarding potential sale of the property located at 1325 49th Avenue SE (Property) as a possible location for a Neighborhood Park. Staff and Seller have come to terms on a proposed Purchase and Sale Agreement (Agreement) for acquisition of the Property.
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ISSUE:
Shall City Council authorize the City Manager to execute the attached Agreement with 49th AVE SE LLC?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached Agreement with 49th AVE SE LLC.
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FACTS AND FINDINGS:
The Comprehensive Park System Master Plan Update (May 2013) identified the area containing the Property as a possible location for a Neighborhood Park. The Purchase Price is a negotiated amount based on an appraisal completed in April 2024. Key terms of the Agreement are below.
Purchase Price: $650,000
Acreage: 2.00
Closing Date: 30 days from execution of Agreement
Earnest Money: None
Special Conditions: Seller to demolish/remove two existing structures prior to closing
BACKGROUND:
Funding for this acquisition will come from Parks System Development Charges.
Clint Dameron
Real Property Services Manager
Attachments:
1. Agreement