HomeMy WebLinkAbout4636 Contract Number: 4636
� Vendor: BREMER CONSOLIDATED TRUST
Subject: Parking - 150 Spaces
Department: City Clerk
File Class: LEG 12-1
Beqin Date: 06/25/2007
End Date: -
Review Date: 06/15/2010
Vault Date:
Comments: Subject to final closing of sale of JC Penney Building
for effective date of commitment
}BSlR.AJD)LEY
~COTT~
COMMERCIAL REAL ESTATE
June 22, 2007
Honorable Cary Bozeman, Mayor
City of Bremerton
345 6th Street
Bremerton, W A 98337
SUBJECT: PARKING - BREMER TRUST
Dear Mayor Bozeman,
We represent Bremer Trust (Trust). As you are aware, the Trust has entered into an agreement to
sell the J.e. Penney's parking garage that currently has over 600 parking spaces which serves
numerous Trust and other downtown tenants, businesses, commuters, students and visitors. This
potential transaction has been entered into with Mr. Ron Sher to support the continuing
redevelopment of downtown Bremerton.
Within the written agreement with Mr. Sher is a condition that some of these lost parking spaces
will be replaced, at the lowest possible market rate, to assist in the already established and
potential future tenants parking needs in the core area of Bremerton. Therefore, the Trust and
Mr. Sher request the City of Bremerton's following commitment:
1. Bremerton shall commit for a period of up to ten (10) years at least one hundred fifty
(150) parking spaces, as needed, on a reserved basis at the lowest possible market rate.
2. These reserved parking spaces shall be on a month to month or longer basis which shall
vary in numbers subject to changes in tenancy and related needs of the Trust.
3. The location of these spaces shall be in City owned properties with the following tax
parcel numbers: 3718-019-021-0002 and 3718-006-018-0004. If redevelopment
removes these properties in the future, City controlled parking within four hundred (400)
feet of these parcels may be substituted.
4. All parking commitments, as described herein, shall be in writing and shall be subject to
the final closing of the sale to Mr. Sher which shall be the effective date of this
commitment by the City. Therefore, if the sale of the J.C. Penney's garage does not
close, this parking commitment shall automatically become void.
400 WARREN AVENUE 0 SUITE 450 0 BREMERTON, WASHINGTON 98337-1479 0 (360) 479-6900 0 FAX (360) 479-5499 0 (800) 479-6903
Established J 979
Mayor Cary Bozeman
June 22, 2007
Page 2
Your and the Council's commitment to this parking condition is vital to this transaction and to
the support of numerous already established tenants in the downtown core. Please respond
officially in writing and sign, date and return this letter as soon as possible.
Respectfully submitted,
Tim S. Arnold
Agent for Bremer Trust
Acceptance and Approval
e\~
Cary Bozeman, Mayor
-:::::::.
~ ~;2)-07
Date
cc: Ron Sher