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DATE SUBMITTED: September 27,2005
BILL # 05" J.3 J
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Public Hearing and Resolution
No. ~qBI to surplus property and approve
the sale to Bealko, Inc. of 38.89 acres of
City-owned land in Tracyton for $1,400,000
Committee Meeting Date: September 28, 2005
COUNCIL MEETING Date: October 5, 2005
Department: PW &U
Presenter: Phil Williams
Phone: 473-5755
SUMMARY: The City has received and evaluated a proposal for the purchase of the 38.89 acre
Tracyton property. The successful proposal is a $1,400,000 offer from Bealko, Inc. for construction
of a residential development of 100 units on approximately half of the site. The actual lot count and
development details will be determined during the preliminary plat process.
ATTACHMENTS: Proposed Resolution; Proposed Purchase and Sale Agreement with Bealko, Inc.
FISCAL IMPACTS (Include Budgeted Amount): $1,400,000 revenue to Water Utility
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
FISCAUBUDGET:~~. /p' CONSENT AGENDA..Q,
OPERATIONS: ~ ~~ A '0 W
COUNCIL PRESIDENT: y",^,,- {\~ IV - - -.
RECOMMENDED MOTION: Move to pass ResolutIOn No. ~ declaring the Tracyton property
surplus to the City's needs and authorizing the sale of the property to Bealko, Inc. for $1,400,000 and
further to modify the 2005 budget to place the earnest money proceeds into Fund 401.
COUNCIL ACTION: ~rove 0 Deny 0 Table
o Continue 0 No Action