Drafter
Clerk 01/27/2005
title
A MOTION approving a request for proposals that will offer the real property known as the North Lake Union upper lot to the marketplace.
body
WHEREAS, King County Metro transit division is the custodian of the real property known as the North Lake Union upper parcel, and
WHEREAS, King County Metro transit received an unsolicited letter of intent in October 2003, requesting to purchase the North Lake Union upper parcel and in return King County Metro transit would:
1. Receive a new maintenance site and facility;
2. Receive three million dollars in cash; and
3. Have the purchaser clean up any contaminated soil encountered during the development of the Upland Parcel at their expense, and
WHEREAS, King County Metro transit concluded, after reviewing the feasibility of the offer, that it was of exceptional value to the county, and
WHEREAS, the transit division seeks to divest itself of the North Lake Union upper parcel if certain terms and conditions can be met, and
WHEREAS, Ordinance 15083, which adopted the 2005 annual budget for King County, provided for the funding of certain capital improvement projects, and
WHEREAS, Ordinance 15083 included the provision requiring the King County executive to submit to the King County council a request for proposals offering a cash only alternative to the above criteria;
NOW, THEREFORE, BE IT MOVED by the Council of King County:
The King County executive is hereby authorized to advertise for sale to the
public, via a request for proposals, substantially in the form of Attachment A to this motion, the real property known as the North Lake Union upper parcel.