HomeMy WebLinkAbout05/18/2011 7A AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL 71A
SUBJECT: Purchase and Sale Agreement Study Session Date 5/11/2011
with Bremerton Cinema, LLC (Buyer) and COUNCIL MEETING Date 5/18/2011
the City of Bremerton (Seller) for the Park Department Executive
Avenue Plaza cinema air space consisting of Presenter Gary Sexton
_30,500± sq ft Phone 360- 981 -1025
SUMMARY: The property which Bremerton Cinema, LLC agrees to buy is commonly known as the
Park Avenue Plaza cinema air space consisting of 30,500± square feet, situated on real estate
located at Burwell Street and Park Avenue, Bremerton One of the contingencies of this Purchase
and Sale Agreement is the approval of City Council and Mayor of the Parking Lease Agreement
ATTACHMENTS: Purchase and Sale Agreement between the City of Bremerton (Seller) and
Bremerton Cinema, LLC (Buyer) for the property known as the Park Avenue Plaza cinema air space
FISCAL IMPACTS (Include Budgeted Amount) Total purchase price for the Property is
$500,000 00 Earnest Money (and partial payment) is $50,000 00
APPROVALS:
DEPARTMENT DIRECTOR
CITY ATTORNEY
FINANCE DIRECTOR J
RECOMMENDED MOTION: Move t at the City approve the Purchase and Sale Agreement with
Bremerton Cinema, LLC (Buyer) for the Park Avenue Plaza cinema air space and authorize the
Mayor to finalize and execute the agreement with substantially the same terms and conditions as
presented
STUDY SESSION ACTION: ❑ Cons t Agenda General Business E] Public Hearing
COUNCIL PRESIDENT
COUNCIL ACTION: Approve ❑ Deny ❑ able ❑ Continue ❑ No Action
Form Updated 4/18/2011