HomeMy WebLinkAbout06-030
DATE SUBMITIED: 2-1-06
BILL# 00 - {)3D
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Purchase & Sale Agreement
between the City of Bremerton and Hotel
Conc:ts, Inc for the Sale of Old City Hall-
239 4 Street
Committee Meeting Date: 2-1-06
COUNCIL MEETING Date: 2-8-06
Department: Economic Dev
Presenter: Gary Sexton
Phone: 473-5282
SUMMARY: Staff is recommending that the City sell Old City Hall- 239 4th Street to Hotel
Concepts, Inc. for the total purchase price of $930,000, including earnest money, payable on closing.
With the understanding that time is of the essence for this agreement, this sale shall be closed by
January 31, 2007 or sooner.
ATTACHMENTS:
FISCAL IMPACTS (Include Budgeted Amount): Receipt of sale proceeds of $930,000 upon
closing.
FISCAL/BUDGET:
OPERATIONS:
COUNCIL PRESIDENT:
RECOMMENDED MOTION:
Move to approve the Real Estate Purchase and Sale Agreement with Earnest Money Provision
between the City of Bremerton and Hotel Concepts, Inc. for the sale of Old City Hall- 239 4th
Street for the purchase price of $930,000, including earnest money, and authorize the Mayor to
execute the agreement in substantially the same form as presented.
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
[ CONSENT AGENDA D I
COUNCIL ACTION: ~ve
D Deny D Table
D Continue D No Action