Ordinance 1774-91 - Laserfiche WebLink

• ORDINANCE NO. 1774-91 AN ORDINANCE of the City Council of the City of Everett, Washington, providing for the acquisition, through a lease with option to purchase, of the Wall Street Building; authorizing execution of such lease and other documents, and approving the financing plan for such transaction. WHEREAS, the City of Everett ("City") has heretofore undertaken a survey of its existing and future needs for office space to house its administrative personnel, fire, police and other staff, has surveyed the office space available within the City and has considered various means of acquiring needed space through acquisition, construction or leasing; and WHEREAS, existing office space within the City is in short supply and the space in the Wall Street Building (the "Property") is not all immediately available for City use, because of existing leases to existing tenants; and WHEREAS, the City has determined that the most efficient and economical way of meeting the City' s existing and future needs for office space is to acquire the Property for those purposes, and WHEREAS, as the existing leases of space within the Property expire, the future needs of the City will require that the City utilize such space as soon as it becomes available; and WHEREAS, RCW 35.42 authorizes cities to enter into a lease with option to purchase real and personal property, and the Council has determined that it is in the best interest of the City to acquire the Property by means of such a lease with option to purchase; and