2008/12/03 Council Agenda Packet

t PROJECT TITLE: Resolution declaring surplus the Consent COUNCIL BILL# City owned real property located X Action Originating Department Admin./Legal. at 2919 Hoyt Ave commonly First Reading Contact Person K.Shaw known as the Hoyt Ave Parking Tim Benedict Garage and authorizing the Mayor Second Reading Phone Number X7103/X8669 to execute the Agreement with Artspace Limited Partnership Third Reading FOR AGENDA OF December 3, 2008 Public Hearing Initialed by: Department Head CAA Council President Location Preceding Action Attachments Department(s) Approval 2919 Hoyt Ave 1.Resolution All 2.Purchase and Sale Agreement Amount Budgeted -0- Expenditure Required -0- Account Number(s):N/A Budget Remaining -0- Additional Required -0- DETAILED SUMMARY STATEMENT: Artspace Everett Limited Partnership is a nonprofit real estate developer for the arts that is partnering with the Arts Council of Snohomish County to build a new Regional Arts Center in downtown Everett. The proposed Center would provide gallery and exhibit space,classroom/work shop space, a new home for the Arts Council and units of affordable live/work space for artists and their families. The proposed site for the new Regional Arts Center is the City-owned Hoyt Parking Garage property located at 2919 Hoyt Ave in downtown Everett. The parking garage is currently used for parking but is substantially physically depreciated and in need of structural repair and improvement for continued use as a parking garage. The proposed Resolution would declare the property as surplus to the City's needs and authorize the Mayor to execute an agreement with Artspace Everett Limited Partnership for the purpose of constructing a new Everett Regional Arts Center on the property. The agreement with Artspace Everett Limited Partnership sets forth the terms and conditions for the conveyance of the property to Artspace. In general,the agreement requires: 1)the development of a new Everett Regional Arts Center consisting of gallery and exhibit space and classroom/work shop space that will be owned and operated by the Arts Council of Snohomish County; 2) affordable live/work space for artists and their families that will be owned and operated by Artspace; and 3) substantial consideration including covenants that restrict the use of the property to the arts center activities as contemplated in the agreement. RECOMMENDATION (Exact action requested of Council): Adopt Resolution declaring surplus the City owned real property located at 2919 Hoyt Ave commonly known as the Hoyt Ave Parking Garage and authorizing the Mayor to execute the Agreement with Artspace Limited Partnership(in the form substantially as provided)as well as all documents necessary to effectuate the conveyance. 5