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 Donald E. and Mary L. Clark 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 1990 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 1990 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 right-of-way for a portion of the Marine Drive NW alignment. Staff has come to terms with Donald E. and Mary L. Clark (Seller) for acquisition of property located at 1990 Wallace Road NW (Property). Acquisition of the Property includes a single-family house and barn located on the site.
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: $1,350,000
Site Size: ~3.75 acres (to be surveyed)
Easement: Access easement to Seller’s remainder property to the east
Lease: Lease with Seller for 0.5 acre portion of the Property for storage of farm-related uses, no rent will be charged during the term of the lease, and it may be terminated when it is needed for City construction of Marine Drive
Subdivision: City to complete subdivision of existing site to create legal lot
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
3. Exhibit F to Agreement