HomeMy WebLinkAbout08-051
DATE SUBMITTED: February 1,2008
BILL #
O~-051
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Real Estate Purchase and Sale
Agreement with Earnest Money Provision
with the Bremerton Area Chamber of
Commerce
Committee Meeting Date: February 27,2008
COUNCIL MEETING Date: March 5, 2008
Department: City Attorney's Office
Presenter: Roger A. Lubovich
Phone: 473-2345
SUMMARY: On November 28,2006, the City entered into a lease with option to purchase with the
Bremerton Area Chamber of Commerce for the former DCD building located at 286 4th Street in
Bremerton. The Chamber has exercised its option to purchase the property for the appraised value of
$360,000. The proposed purchase and sale agreement sets out the terms of the sale.
ATTACHMENTS:
1. January 18, 2008 Correspondence from the Bremerton Area Chamber of Commerce
2. Proposed Real Estate Purchase and Sale Agreement with Earnest Money Provision
FISCAL IMP ACTS (Include Budgeted Amount): The Contingency Reserve Fund will receive the
proceeds from this sale, which will be $360,000 less closing costs.
APPROV ALS:
DEPARTMENT 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 with Earnest Money Provision
between the City of Bremerton and the Bremerton Area Chamber of Commerce and authorize the
Mayor to finalize and execute the agreement with substantially the same terms and conditions as
presented.
COUNCIL ACTION: ~prove
D Deny D Table
D Continue D No Action