TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Department Director
SUBJECT:
title
Purchase and Sale Agreement with the Bob and Sue Creamer Living Trust for acquisition of real property located at 1440 Wallace Road NW in conjunction with the Marine Drive NW project
Ward(s): 8
Councilor(s): Lewis
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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SUMMARY:
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 (Alignment). A portion of the Alignment runs through property located at 1440 Wallace Road NW (Property) (Attachment 1). The Property is owned by the Bob and Sue Creamer Living Trust, Robert J. and Suzan Creamer, Trustees (Seller), lies adjacent to, but outside of, the City of Salem, and is bifurcated by the Urban Growth Boundary. Acquisition of the Property includes a full fee acquisition of land and the Seller’s personal residence.
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ISSUE:
Shall City Council authorize the City Manager to execute the attached Purchase and Sale Agreement for the acquisition of real property located at 1440 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 1440 Wallace Road NW.
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FACTS AND FINDINGS:
Staff and Seller have come to terms on a Purchase and Sale Agreement (Agreement) (Attachment 2) for acquisition of the Property. Key terms of the Agreement are below.
Price: $1,418,000
Site Size: 7.24 acres
Earnest Money: $15,000
Closing: no later than November 19, 2021
BACKGROUND:
On July 26, 2020, Council authorized City Manager to execute a Purchase and Sale Agreement with the Seller for fee acquisition of a portion of the property in addition to an easement for Marine Drive NW right-of-way (Attachment 3). Upon completion of survey work and submittal of partition documents, unforeseen land use issues arose requiring actions which Seller was unwilling to undertake. In order to acquire the necessary right-of-way for Marine Drive NW, it is necessary to acquire the entire parcel of land and complete the required land use actions at a later date when the City is in full control of the Property.
Funding for this acquisition will come from a combination of funding sources including: 2008 Streets and Bridges Bond/Marine Drive NW funds, Stormwater Utility Rate funds, and American Rescue Plan Act (ARPA) funds.
Clint Dameron
Real Property Services Manager
Attachments:
1. Property Map
2. Agreement
3. Previous Agreement