HomeMy WebLinkAbout2281 RESOLUTION NO. 2281
A RESOLUTION REGARDING THE PURCHASE
OF THE ADMIRAL THEATRE BUILDING
WHEREAS, the Bremer Trust has offered the City the purchase
of the Admiral Theatre Building for $75,000; and
WHEREAS, the City of Bremerton recognizes the community
benefit of a performing and fine arts and cultural center and is
desirous of establishing such a facility within the Central
Business District; and
WHEREAS, The County Assessor's valuation for tax purposes of
this building is in excess of $225,000; and
WHEREAS, the Civic Improvement Fund (104-00 - Hotel/Motel
Transient Tax) is limited by State law for particular purposes
which include convention center facilities, performing arts center
facilities, and visual arts centers; and
WHEREAS, in order to preserve the purchase price of $75,000,
the City does not have adequate time to develop professional advice
on the specific physical integrity of the building but has received
favorable reports regarding the general condition of the building;
and
WHEREAS, the City council has determined that the purchase
price is sufficiently below the assessed valuation to accommodate
this lack of detailed information; and
WHEREAS, it is of a higher priority to the community to
purchase the theatre at the offered price rather'than to attempt
to negotiate a longer period within which to develop new analyses,
NOW, THEREFORE,
BE IT RESOLVED THAT THE BREMERTON CITY COUNCIL:
That the Mayor is directed to execute the purchase agreement
between the City and the Bremer Trust for the Admiral Theatre
facility attached hereto as Exhibit A and incorporated by reference
herein.
PASSED by the Bremerton City Council this 20 day of
December, 1989.
Spencer Horning, President