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DATE SUBMITTED: August 6, 2007 .
BILL # O'7/"J-/?-
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Real Estate Purchase and Sale
Agreement with Kitsap Community Federal
Credit Union
Committee Meeting Date: August 22, 2007
COUNCIL MEETING Date: September 5, 2007
Department: City Attorney's Office
Presenter: Roger A. Lubovich
Phone: 473-2345
SUMMARY: The City desires to purchase a parking lot adjacent to the new police headquarters in
order to provide for additional parking. The proposed purchase price is $180,000. ACE PS, Inc.
conducted an analysis of the property and valued it at $180,000.
ATTACHMENTS:
1. Proposed Real Estate Purchase and Sale Agreement
2. ACE PS, Inc. value analysis
FISCAL IMPACTS (Include Budgeted Amount): The purchase price for the property is $180,000
(plus closing costs). The Public Safety Bond Fund budget as adopted is sufficient to cover this
expenditure for the police facility project.
APPROV ALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
CONSENT AGENDAX.'
GENERAL BUSINESS 0
PUBLIC HEARING 0
RECOMMENDED MOTION: Move to approve the Real Estate Purchase and Sale Agreement
between the City of Bremerton and Kitsap Community Federal Credit Union 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
o Deny 0 Table
o Continue 0 No Action