TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Kelley Cochran
425-556-2748
Parks
Loreen Hamilton
425-556-2336
DEPARTMENT STAFF:
Finance
David Amble
Real Property Manager
Parks
Cameron Zapata
Senior Parks Planner
TITLE:
title
Approval of Acquisition of King County Parcel 720241-0260 from G&I VII Redmond Development LLC
OVERVIEW STATEMENT:
recommendation
Parcel 720241-0260 is a 14-acre property situated between Bear Creek Parkway and WA Route 520. It is currently owned by G&I VII Redmond Development LLC (G&I), a property developer associated with Redmond Town Center (RTC). The property has a paved pathway that connects the Sammamish River Trail to the Bear Creek Trail route. G&I has approached the City regarding the City's interest in acquiring the property as a gift, with no city funds expended to procure other than staff time and document recording expenses.
City staff have done a thorough due diligence on the property, including a Phase I Environmental Assessment (EA), a Title Report, an appraisal (forthcoming), and internal discussions concerning covering private stormwater facilities located on the property.
* The Phase I EA report found no issues of concern.
* The title report was comprehensive, with documentation related to the connection of the property to the development and management of RTC. The covenants on the property include terms that it remain as open space.
* The County's assessed value of the property is $18,330.00.
* The private stormwater pond facilities, located in the south end of the property, will remain private, and the current owner (RTC) has documented that it will continue to maintain them. The City will grant the owner an easement to conduct its maintenance of those facilities.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:...
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