MEMO TO: Members of the City Council
FROM: Mayor Angela Birney
SUBJECT:
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Public Hearing and City Council Action on Purchase and Sale Agreement Amendment No. 4 between the City of Redmond and Main Street Property Group, LLC
I. RECOMMENDED ACTION
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Approve the proposed Purchase and Sale Agreement (PSA) Amendment No. 4 between the City of Redmond and Main Street Property Group, LLC (MSPG) (see Attachment A). If approved the City will sell an additional 250 square feet of land to MSPG for $44,500; extend the PSA closing date to September 30, 2020; and refund $10,000 that MSPG paid for a 60-day escrow extension to May 29, 2020.
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II. DEPARTMENT CONTACTS
Malisa Files, Finance Director 425-556-2166
Carol Helland, Planning Director 425-556-2107
Dave Juarez, Public Works Director 425-556-2733
Sarah Pyle, Community Development and Implementation Manager 425-556-2426
Terry Marpert, AICP, Real Property Specialist 425-556-2428
III. DESCRIPTION/BACKGROUND
In 2017-2018, the City held a design competition for the development of the 11,506 square foot Downtown Park Remnant Property on the west side of 161st Ave. NE, between Redmond Way and Cleveland St. The City's goal for the remnant property is to encourage development that:
1. Provides a significant architectural contribution and gateway for Downtown,
2. Is compatible with the design and use of the Downtown Park, and
3. Activates and enlivens the Downtown Park and the surrounding neighborhood.
After reviewing proposals submitted by several developers, the City selected MSPG to develop the property because their design most closely met the City's development goals. On August 21, 2018, the City Council approved selling the property to MSPG and on November 27, 2018 the Mayor signed a PSA to sell the property for $2,056,956.
In addition to purchasing the remnant property from the City, MSPG is buying two adjacent parcels from William Johnson, with the intention to ...
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