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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 4 <br /> PROJECT TITLE: Consent COUNCIL BILL# <br /> Sixth Amendment to Property X Action Originating Department Public Works <br /> Disposition Agreement, First Reading Contact Person Dave Davis <br /> Assignment and Assumption Second Reading Phone Number .257-8913 <br /> Agreement, and Seventh Third Reading FOR AGENDA OF May 29,2013 <br /> Amendment to Property Public Hearing <br /> Disposition Agreement Initialed by: <br /> Department Head <br /> CAA <br /> Council President 96Th <br /> Location Preceding Action Attachments Dept(s)Approval <br /> Riverfront June 2005: City Selects OM&signs an Exclusive Negotiating Sixth Amendment Legal, <br /> Agreement Administration, <br /> June 2006:City and OM sign MOU Assignment and Engineering <br /> Nov.2006:City council passes Resolution 5834 mp Assution Agreement <br /> Feb.2007:City Council passes Resolution 5871 <br /> Sept.2007:City council approves First Amendment to Property <br /> Disposition Agreement Seventh Amendment • <br /> Jan. 2008:City Council approves Second Amendment (which is Exhibit A to <br /> April 2009:City Council approves Third Amendment Assignment and <br /> October 2009:City Council approves Fourth Amendment mp Assation <br /> June 2011:City Council approves Fifth Amendment <br /> Agreement) <br /> Amount Budgeted <br /> Expenditure Required Account Number(s): <br /> Budget Remaining <br /> Additional Required <br /> DETAILED SUMMARY STATEMENT: <br /> On February 21,2007,the City Council passed Resolution 5871,which authorized the sale of City-owned <br /> Riverfront properties to OliverMcMillan(OM). The City and OM entered into a Property Disposition <br /> Agreement(PDA), imposing certain conditions and allocating responsibilities to each party. The City and <br /> OM are also parties to a Development Agreement and other agreements regarding the Riverfront. <br /> OM desires to sell the Riverfront to-Polygon. A prerequisite for this sale is City consent to the assignment of <br /> OM's rights and obligations under the PDA and other Riverfront agreements. The purpose of this action <br /> item is to authorize the Mayor to execute on behalf of the City the documents necessary to effect this <br /> assignment. <br /> • <br /> RECOMMENDATION(Exact action requested of Council): <br /> Authorize Mayor to Execute Sixth Amendment to Property Disposition Agreement,Assignment and <br /> Assumption Agreement, and Seventh Amendment to Property Disposition Agreement in the form <br /> substantially as provided. <br /> 7 <br />