File #: 20-431    Version: 1
Type: Action Item Status: Passed
In control: City Council
On agenda: 11/9/2020 Final action: 11/9/2020
Title: Sale of Six Acres at the Salem Business Campus to HD Fowler Co., Inc. Ward(s): Ward 3 Councilor(s): Nanke Neighborhood(s): Southeast Mill Creek Association Result Area(s): Strong and Diverse Economy
Attachments: 1. Proposed Subdivision Layout, 2. Purchase and Sale Agreement
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Director 

                                          

SUBJECT:

title

 

Sale of Six Acres at the Salem Business Campus to HD Fowler Co., Inc. 

Ward(s): Ward 3    

Councilor(s): Nanke   

Neighborhood(s):  Southeast Mill Creek Association

Result Area(s): Strong and Diverse Economy  

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ISSUE:

 

Shall the City Council authorize the City Manager to execute the attached Purchase and Sale Agreement with HD Fowler Co., Inc. for six acres of City land at the Salem Business Campus totaling $888,624?     

 

 

RECOMMENDATION:

recommendation

 

Authorize the City Manager to execute the attached Purchase and Sale Agreement with HD Fowler Co., Inc. for six acres of City owned land at the Salem Business Campus totaling $888,624.   

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SUMMARY:

 

Representatives for HD Fowler contacted the City regarding purchase of Lot 3 at the Salem Business Campus (Attachment 1). Headquartered in Bellevue Washington, the family owned company distributes plumbing equipment for a variety of applications. The have more than 20 branches and distribution sites in the northwest. They want to build a 15,000 SF distribution site at the Salem Business Campus to serve Mid-Valley customers. The company expects they will create up to 18 jobs with the opening of this facility, and employment will increase over time. The site is shovel ready.  

 

 

FACTS AND FINDINGS:

 

The use is consistent with the City Council adopted requirements for the Salem Business Campus. Terms of the Purchase and Sale Agreement (Attachment 2) include:

 

Size: Approximately 6 acres (a partition plat is required to create the legal lot)

Purchase price: $888,624

Earnest money: $25,000, in the form of a promissory note which will be due when the Buyer waives or satisfies its conditions to purchase the property.

Special conditions: Approval of a partition plat creating the 6- acre lot.

Closing: Following a 90-day investigation period and 15 days after the Buyer has waived or satisfied the conditions. 

 

BACKGROUND:

 

The needed infrastructure is in place for this use.

 

                     Annie Gorski     

                     Economic Development Manager    

 

Attachments:

1. Proposed Subdivision Layout

2. Purchase and Sale Agreement