HomeMy WebLinkAbout05-074
DATE SUBMITTED: 3-2-05 BILL # OS - ()7l/
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
...........................................................................................,
SUBJECT: Purchase & Sale Agreement Committee Meeting Date: 3-9-05
between the City ofBremerton and John COUNCIL MEETlNG Date: 3-16-05
Radovich LLC for the Sale ofBremerton Department: Econ Development
City Hall Presenter: Gary Sexton
Phone: 473-5282
, SUMMARY: Staff is recommending that the City sell the old Bremerton City Hall located at 239 4th
Street to John C. Radovich LLC. The terms include the purchase price of$930,000 with $50,000 paid
as earnest money and the balance of$880,000 due October 1,2006 and held in the form ofa non-
interest bearing promissory note until such date. Closing will be on or before October 1,2006. Ifthe
City does not vacate the building by October 1,2006, the sale shall close and the City will pay a
monthly rental sum of $6,200 and any actual utility charges for a maximum of four months.
ATTACHMENTS: Purchase & Sale Agreement
FISCAL IMPACTS (Include Budgeted Amount):
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
FISCAIlBUDGET: -i!~ CONSENT AGENDA D
OPERATIONS: ~
COUNCIL PRESIDENT: ~ 71~~
RECOMMENDED MOTION:
Move to approve the Purchase & Sale Agreement between the City ofBremerton and John C.
Radovich LLC for the sale of Bremerton City Hall for the sum of $930,000 and authorize the
Mayor to execute the agreement in substantially the same form as presented.
COUNCIL ACTION: ~prove D Deny D Table D Continue D No Action