File #: 2012-0123    Version:
Type: Ordinance Status: Passed
File created: 3/26/2012 In control: Committee of the Whole
On agenda: Final action: 6/25/2012
Enactment date: 7/3/2012 Enactment #: 17364
Title: AN ORDINANCE authorizing the King County executive to execute an amendment to the purchase and sale agreement dated June 21, 2007, in order to facilitate financing and construction of the project located on the North Half of the Former Kingdome Parking Lot parcel, located in Council District 8.
Sponsors: Joe McDermott
Indexes: Agreement, Parking, Purchasing, Stadium
Attachments: 1. 17364.pdf, 2. 2012-0123 FMD Fiscal Note.xls, 3. 2012-0123 Transit fiscal note.xls, 4. 2012-0123 transmittal letter.doc, 5. 2012-0123 NL st khm 0615v9 - 10AM, 6. 2012-0123 Attachment 1 Hsg Table khm-06-11-12, 7. 2012-0123 Attachment 2 Current & Proposed = 06-13-12, 8. 2012-0123 Attachment 3 Apt Mkt Analysis 06-14-12 PM, 9. 2012-0123 Attachment 4 Legislation, 10. 2012-0123 Attachment 5 14th Amendment to PSA (Clean) 5-10-12, 11. 2012-0123 Attachment 6 InterIm Ltr, 12. 2012-0123 Attachment 7 NLD email re Fourth and Main 5-23-12, 13. 2012-0123 Attachment 8 InterIm email re Hirabayashi Place 06-13-12, 14. 2012-0123 Attachment 9 West Block Floor Plans 06-14-12, 15. A. Fourteenth Amendment to Real Estate Purchase and Sale Agreement, 16. 2012-0123 Revised Staff Report 06-19-12, 17. A. Fourteenth Amendment to Real Estate Purchase and Sale Agreement, as amended by Council June 25, 2012, 18. Amendment #1 6-25-12.pdf
Staff: Bourguignon, Mary
title
AN ORDINANCE authorizing the King County executive to execute an amendment to the purchase and sale agreement dated June 21, 2007, in order to facilitate financing and construction of the project located on the North Half of the Former Kingdome Parking Lot parcel, located in Council District 8.
body
BE IT ORDAINED BY THE COUNTY COUNCIL OF KINGCOUNTY:
SECTION 1.Findings:
A. King County (the Seller) owned a 3.85 acre (167,513 square feet) parcel of land, commonly known as the North Half of the Former Kingdome Parking Lot (the Property), in the City of Seattle, Washington, located adjacent to the King Street Center, the King Street Station, the Weller Street Pedestrian Bridge, and a surface parking lot owned by the Washington State Public Stadium Authority (PSA) and operated by First and Goal, Inc. (FGI). KingCounty facilities management division was the custodian.
B. Pursuant to Ordinance 15820, the KingCounty executive executed a purchase and sale agreement (the Agreement), dated June 21, 2007, for the sale of the Property to North Lot Development, L.L.C. (the Buyer).
C. The dates for the parties to agree on the forms of the Deed and Covenants and the Reserved Easements were extended by a First Amendment dated September 28, 2007; a Second Amendment dated October 28, 2007; a Third Amendment dated November 20, 2007; a Fourth Amendment dated January 31, 2008; a Fifth Amendment dated March 20, 2008; a Sixth Amendment dated April 30, 2008; a Seventh Amendment dated December 17, 2008; an Eighth Amendment dated June 30, 2009; a Ninth Amendment dated August 29, 2009; a Tenth Amendment dated January 26, 2010; and an Eleventh Amendment dated June 28, 2010.
D. The dates for certain actions in the Due Diligence Period were extended by a Fifth Amendment dated March 20, 2008; a Sixth Amendment dated April 30, 2008; a Seventh Amendment dated December 17, 2008; and an Eighth Amendment dated June 30, 2009.
E. Pursuant to Ordinance 16555, the King County executive ...

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