TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Department Director
SUBJECT:
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Purchase and Sale Agreement with Kurt and Janet Spingath for acquisition of real property
Ward(s): All Wards
Councilor(s): All Councilors
Neighborhood(s): WSNA
Result Area(s): Good Governance; Natural Environment Stewardship; Safe, Reliable and Efficient Infrastructure; Strong and Diverse Economy; Welcoming and Livable Community
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ISSUE:
Shall the City Council authorize the City Manager to execute the attached Purchase and Sale Agreement for the acquisition of real property located at 1460 Wallace Road NW?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached Purchase and Sale Agreement for the acquisition of real property located at 1460 Wallace Road NW.
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SUMMARY:
On June 10, 2019, Council directed staff to use funds from the 2008 Streets and Bridges Bond to acquire righ-of-way for a portion of the Marine Drive NW alignment. Staff has come to terms with Kurt and Janet Spingath (Seller) for acquisition of property located at 1460 Wallace Road NW (Property). Acquisition of the Property includes both a fee acquisition and a right of way easement.
FACTS AND FINDINGS:
Staff and Seller have come to terms on a Purchase and Sale Agreement (Agreement) (Attachment 1) for acquisition of the Property. Key terms of the Agreement are below.
Price: $209,500 (subject to final acreage)
Site Size: Easement: ~0.60 acre (to be surveyed)
Fee: ~ 3.25 acres (to be surveyed)
Subdivision: City to complete subdivision of existing site to create legal lot and easement areas
Utility Easement: City to grant Utility Easement allowing utility access to Seller’s remainder property
BACKGROUND:
Funding for this acquisition will come from the Marine Drive NW allocation of the 2008 Streets and Bridges Bond.
Clint Dameron
Real Property Services Manager
Attachments:
1. Proposed Agreement
2. Exhibit E to Agreement