2016/03/09 Council Agenda Packet

• EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET PROJECT TITLE: Authorize the Mayor to sign 3/9116 Briefing COUNCIL BILL# the Option Agreement with Proposed Action Originating Department Real Property Snohomish County Public Consent Contact Person Mike Palacios Utility District No. 1 (PUD),to 3/16/16 Action Phone Number 425-257-8938 exercise the option after First Reading FOR AGENDA OF March 9,2016 satisfactory completion of due Second Reading March 16, 2016 diligence, and to take all other Third Reading Initialed by: actions necessary to close for Public Hearing Department Head the acquisition of property Budget Advisory CAA located at 2115 13th Street Council President Location Preceding Action Attachments Department(s)Approval 2115 13t Street Option Agreement Administration, Legal, Real Property Amount Budgeted $474,950 plus closing Expenditure Required $474,950 plus closing Account Number(s): GL 145 5626 000 943 610 _ I Budget Remaining -0- • Additional Required -0- DETAILED SUMMARY STATEMENT: The City proposes to acquire a vacant lot located at 2115 13t Street,Everett, SVA, from Snohomish County PUD,to be made available to a housing provider to develop low-barrier supportive housing. The vacant lot is approximately one half of an acre in size and is located just east of Broadway Avenue along 13th Street. The proposed acquisition price is $474,950 plus closing costs. The fee for the purchase of the option is $10,000. This puts the property on hold while the City completes due diligence, including a Phase 1 environmental review. If the City exercises the option,the option fee will be credited toward the purchase price of the property at closing. RECOMMENDATION: Authorize the Mayor to sign the Option Agreement with Snohomish County Public Utility District No. 1 (PUD),to exercise the option after satisfactory completion of due diligence, and to take all other actions necessary to close for the acquisition of property located at 2115 1311' Street. 1