HomeMy WebLinkAbout07-188
DATE SUBMITTED: July 9, 2007
BILL # ()1-198
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
.................................................................................m......
SUBJECT: Real Estate Purchase and Sale
Agreement with Tiferet, LLC for the sale of
two City-owned parcels
Committee Meeting Date: July 25, 2007
COUNCIL MEETING Date: August 1, 2007
Department: City Attorney's Office
Presenter: Roger A. Lubovich
Phone: 473-2345
SUMMARY: The City has received an offer from Tiferet, LLC for the purchase of two City-owned
parcels on Sheldon Boulevard $126,000. The property was appraised in August 2006 and valued at
$126,000. The proceeds of the sale will be deposited in the Contingency Reserve Fund.
ATTACHMENTS: Proposed Real Estate Purchase and Sale Agreement with Earnest Money
Provision
FISCAL IMPACTS (Include Budgeted Amount): The proceeds of the sale, less closing costs, will
be deposited into the Contingency Reserve Fund.
APPROV ALS:
DEP ARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
CONSENT AGENDA ~
GENERAL BUSINESS 0
PUBLIC HEARING 0
RECOMMENDED MOTION: Move to approve the Real Estate Purchase and Sale Agreement
between the City of Bremerton and Tiferet, LLC and authorize the Mayor to finalize and execute the
agreement with substantially the same terms and conditions and to execute any and all documents
necessary to close the transaction.
COUNCIL ACTION: ~pprove 0 Deny 0 Table
o Continue 0 No Action