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HomeMy WebLinkAbout2886RESOLUTION NO. ,~ A RESOLUTION of the City Council of the City of Bremerton, Washington, approving a plan for the development and financing of the Bremerton Government Center by the Kitsap County Consolidated Housing Authority; approving the acquisition by the City of condominium units within the Bremerton Government Center from the Housing Authority; approving the form of various agreements to document these approvals and agreements; authorizing the Mayor to finalize and execute such agreements and such other documents as required for these transactions. WHEREAS, City of Bremerton (the "City") has previously approved three Pre- Construction Agreements with the Kitsap County Consolidated Housing Authority (the "Authority") for the preliminary development of the Bremerton Government Center (the "Project"); and WHEREAS, the Project is a multi-purpose community center, as defined in RCW 35.59.010, in which the Authority, the Kitsap County, Washington (the County"), the City, the Kitsap County Health District and Congressman Norm Dicks, among others, are expected to have offices, and will provide public health facilities, a public auditorium, public parking and other facilities in support of these public and community functions; and WHEREAS, the City, the Authority and the County have negotiated an Interlocal Agreement dated as of March 1, 2003 (the "Interlocal Agreement") setting forth the general terms and conditions under which they will participate in the development, ownership, fmancing and use of the Project; and WHEREAS, the City, the Authority and the County have negotiated a Construction and Development Agreement dated as of March 1, 2003 (the "Development Agreement") setting forth the terms and conditions under which construction of the Project will be managed; and WHEREAS, the Authority and the City have negotiated a Real Estate Contract and Security Agreement dated as of March 1,_2003 (the "Real Estate Contract") setting forth the terms and conditions under which the City will finance the acquisition of condominium units within the Project; and WHEREAS, the Authority, the City, the County and Washington Mutual Bank, as owners of the proposed condominium units in the Project, intend to enter into a Condominium Declaration (the "Condominium Declaration") setting forth the rules and regulations applicable to the condominium units, including the use of and access to the common areas and public meeting rooms and parking facilities; and Government Center WHEREAS, the Authority intends to issue bonds in an mount not to exceed $18,000,000 (the "Bonds") to finance that portion of the Project that will be owned by the Authority and those portions that will be sold to the City and the County and has requested that the County provide credit enhancement to the Bonds pursuant to the authority of the County under RCW 35.59.040 to participate in the financing of multi-purpose community centers; NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. Findings. The City Council finds that the proposed Bremerton Government Center is a multi-purpose community center as def'med in RCW 35.59.010 which will provide the citizens of Kitsap County access to a range of public and community services. The co-location of such services in Bremerton will be convenient and cost effective to the citizens of the City of Bremerton and Kitsap County and the public entities, including the City and the County, that will provide such services and in addition will benefit the public by helping to revitalize the downtown core of Bremerton. The City's acquisition of condominium units in the Bremerton Government Center is a cost effective way for the City to participate in the Project. SECTION2. Approval of Documents. The City Council hereby approves the following agreements (collectively, the "Agreements") substantially in the forms presented and considered by Council and on file with the City Clerk, which Agreements are hereby incorporated by this reference: (a) the Interlocal Agreement; (b) the Construction and Development Agreement; (c) the Real Estate Contract and Security Agreement; and (d) the Continuing Disclosure Agreement. The Mayor, in consultation with the Finance Director and the City Attorney, is hereby authorized to finalize and execute on behalf of the City the final forms of the Agreements identified herein and any additional agreements, documents and certificates on behalf of the City that are necessary or convenient to the development and construction of the Project and which are not inconsistent with the terms and conditions set forth in the Agreements; provided, that the City shall not be committed to paying more than $6,500,000 in principal amount financed over a term of not to exceed 30 years at a rate per annum not to exceed 5.6% to finance the acquisition of condominium units consisting of approximately 16,424 square feet. The City Council will subsequently be presented with the Condominium Declaration for its consideration and approval. 2 Government Center SECTION3. City's Obligation under Real Estate Contract. The City's obligation to make payments due under the Real Estate Contract shall be a general obligation of the City. The City hereby agrees to make such payments, as a general obligation, from any money of the City legally available, and the City hereby pledges its full faith and credit to the prompt payment thereof. SECTION 4. Severabilit¥. If any one or more sections, subsections, or sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the validity of the rmnaining portion of this Resolution and the same shall remain in full force and effect. SECTION 5. Effective Date. This Resolution shall take effect and be in force immediately upon its passage. PASSEDb the ~t y C' y Council o f the City of Brem,~gg~s~n~_o..n_t~s day of~ 2003. CAROL ARENDS, Council President APPROVED AS TO FORM: ATTEST: 15~OGER ~. LUBOVI~ ~T~,~ MCCLUSI~Y, ~ty C~!c RSLEGAL~Files\Current Active Files\Government Center~solution-Bremerton.doc 3 Government Center