Drafter
Clerk 04/15/2010
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AN ORDINANCE approving the sale by King County of a surplus, unimproved, residential tax title parcel known as North Lake Shore Lands, located in the city of Federal Way, Washington, within council district seven.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. North Lake Shore Lands, tax parcel number 614360-0571, is an unimproved nine-thousand-square-foot parcel located at the northeast corner of 38th Avenue South and South 328th Street in the city of Federal Way, approximately one block east of North Lake. The property is zoned RS 9.6-Federal Way, which permits one dwelling unit per nine thousand six hundred square feet. The highest and best use is considered to be for the development of one single-family unit. Water, sewer, telephone and electric service are available at the street.
B. The King County treasury section was unsuccessful in attempts to sell the subject property during foreclosure proceedings and subsequently deeded it to King County as tax title property in 2001. The facilities management division ("FMD") is the custodian for tax title properties.
C. Pursuant to K.C.C. 4.56.100, FMD circulated a notice to surplus to other county departments. No agency expressed interest. Though the subject site meets certain criteria for affordable housing, its small size and current zoning do not lend themselves to multiple housing development, and the affordable housing group specifically declined the site. In March 2010, North Lake Shore Lands was formally declared surplus by FMD in accordance with K.C.C. 4.56.100.
D. FMD appraised the parcel for sixty thousand dollars and offered it at auction in August 2009, in accordance with RCW 36.35.120, Sales of Tax Title Property. That auction produced no offers and FMD subsequently listed the parcel with Northwest Multiple Listing Service.
E. In January 2010, an offer for thirty-five thousand dollars was submitted by Mr. Gary Heil. This buyer has provided proof of funds for an all-cash purchase, and there are no remaining contingencies to the sale. The offer covers all outstanding past due state and county property taxes, reimburses FMD for the costs of sale, and leaves a remaining balance that will be distributed among the taxing districts in existence as of the date of the foreclosure. Distribution of these proceeds is performed in accordance with chapter 36.35 RCW and K.C.C. 4.56.100.
F. FMD recommends the proposed sale due to the current depressed market conditions and the ability to cover all outstanding debts listed above.
G. The buyer has requested council approval of this sale by June 15, 2010.
H. Pursuant to K.C.C. 4.56.080, the council must approve sale of county-owned real property.
SECTION 2. The King County council, having determined that sale of the tax title parcel described in Attachment A to this ordinance is in the best interest of state, county, and local taxing districts, does hereby approve the sale as provided in the attached purchase and sale agreement and authorizes the King County executive to execute any other documents necessary to convey the property to Mr. Gary Heil.