HomeMy WebLinkAbout03-092DATE SUBMrlTED: May 7, 2003 BILL # 0 3 - O
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: US Bank Purchase Committee Meeting Date: May 13, 2003
COUNCIL MEETING Date: May 21, 2003
Department: Econ. Dev.
Presenter: Kathlee~ McCluskey
Phone: 473-5234
SUMMARY: The City made an offer on the US Bank Building last year. It was determined at that
time that the location across from the new Government Center and in the downtown core was ideal for
a Public Safety Facility housing both Police and Court. The lot size is approximately 52, 090 sf. The
three story building is approximaltey 20,500 sf. There are 68 sparking spaces on site. It was built in
1977. The Bank accepted our offer and has been in the process of finalizing their agreement for a new
location. The attached purchase and sale agreement provides for a due diligence period of 90 days for
the City to obtain clear title, perform environmental assessments and obtain an appraisers
coufirmatiou of property value. We have obtained sufficient information from the current owners of
the building and property to be confident that we can complete our review in the 90 day period.
ATTACHMENTS: Purchase and Sale Agreement and information sheet regarding the building.
FISCAL IMPACTS (Include Budgeted Amount): $1,000,000.00 included in the Public Safety Bond
Issue.
APPROVALS: ~
DEPARTMENT DIRECTOR~
CITY ATTORNEY~
MAYOR:
FISCAL/BUDGET: ~
OPERATIONS:
COUNCIL PRESIDENT: ~-'~--~cn~ ,~c~-' J
RECOMMENDED MOTION: Motion to approve the Purchase and Sale Agreement with US Bank
National Association in the amount of One Million Dollars and authorize the Mayor to finalize and
execute the same in substantially the same form as attached.
AGENDA STATUS:
Consent []
New Business []
Old Business []
COUNCIL ACTION: [~pprove [] Deny [] Postpone [] No Action Resolution []