Drafter
Clerk 05/23/2006
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AN ORDINANCE authorizing the King County executive to sell the Northgate park and ride lot at 11203 5th Avenue NE, Seattle 98125, to the city of Seattle for use as a public park; and declaring an emergency.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. King County's growth management policies promotes the creation of housing in urban areas to minimize sprawl and encourage urban development, walking and other benefits of downtown development.
B. Consolidation of the park and ride spaces adjacent to the Northgate Transit Center provides important benefits to Metro's customers and provides better service and reliability.
C. The relocation of the Northgate park and ride lot at 11203 5th Avenue NE, Seattle, Washington, to parking stalls closer to the Northgate Transit Center will consolidate the Metro transit service and will help stimulate development near and around the transit center.
D. The plan to replace existing park and ride facilities that are presently provided at the Northgate park and ride lot located at 11203 5th Avenue NE, and to convey that lot to the city of Seattle requires the execution of leases for replacement garage parking space with two project developers as well as a purchase and sale agreement with the city of Seattle, together with an appropriation necessary to fund the leases. The project developers have existing deadlines for the execution of leases with the county and for the conveyance of property between them that are necessary to support their project financing that will expire during the first week in June 2006. Delay of execution of these agreements past those deadlines would create a significant risk of cancellation of the projects or substantial project delays and cost increases to the county. Unless this ordinance is enacted as an emergency ordinance it will not be possible to accomplish the timely execution of the leases and purchase and sale a...

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