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 Barfknecht Revocable Living Trust 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 1508 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 1508 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 Barfknecht Revocable Living Trust, LeRoy E. Barfknecht, Trustee (Seller) for acquisition of property located at 1508 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: $300,000
Site Size: Easement: ~0.66 acre,
Fee: ~3.5 acres (to be surveyed)
Easements: Utility Easement to Seller, Access Easement to City
Subdivision: City to complete subdivision of existing site to create legal lot and easement areas
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
4. Exhibit G to Agreement