HomeMy WebLinkAbout07/18/2012 8B AGENDA BILL
CITY OF BREMERTON 88
CITY COUNCIL
SUBJECT: Real Estate Purchase and Sale Study Session Date July 11, 2012
Agreement, Parking Lease Agreement and COUNCIL MEETING Date July 18, 2012
Tn -Party Wall Agreement Department Financial Service
Presenter Becky Hasart and
Gary Sexton
Phone 473 -5722
SUMMARY: Mundy Jo Holdings, LLC desires to purchase the retail pad located at Park Plaza The
proposed real estate purchase and sale agreement is for the retail pad The proposed Parking
Lease is for the lease of four stalls at the City parking lot located at Fourth Street and Park Avenue
Both the purchase and sale agreement and lease agreement are with Mundy Jo Holdings, LLC The
Tn -Party Wall is between the City, Mundy Jo Holdings, LLC and Bremerton Cinema, LLC and
establishes an agreement relating to a shared wall
ATTACHMENTS: (1) Proposed Real Estate Purchase and Sale Agreement, (2) Proposed Parking
Lease Agreement, and (3) Tn -Party Wall Agreement
FISCAL IMPACTS (Include Budgeted Amount) The purchase price for the retail pad is 25,000
APPROVALS:
DEPARTMENT DIRECTOR
CITY ATTORNEY
FINANCE DIRECTOR
MAYOR
RECOMMENDED MOTION:
Move to approve the sale of the retail pad at Park Plaza to Mundy Jo Holdings, LLC and authorize
the Mayor to finalize and execute the Purchase and Sale Agreement, Parking Lease Agreement and
Tri -Party Wall Agreement with substantially the same terms and conditions as presented
STUDY SESSION ACTION: ❑ Consent Agenda Genera Business El Public Hearing
COUNCIL PRESIDENT F/ ;'r U�
COUNCIL ACTION: Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 11/02/2011