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Authorize Acquisition of 6590 141st Avenue NW <br /> <br />By: Scan Sullivan, Economic Development / TIF Specialist <br /> <br />Background: <br /> <br />Staff has been directed by the EDA to facilitate development and redevelopment activity <br />and to acquire properties in the City's Development District No, 1. On February 28, the <br />City Council passed a resolution authorizing the City to acquire the subject property <br />through condemnation. Staff has negotiated a purchase agreement with the property <br />owner that would complete the sale without having to condemn the property. The <br />acquisition of this property would be funded through TIF District No. 2. Staff feels that <br />the acquisition of this property is consistent with the development pro,am of TIF <br />District No. 2 and will promote high quality development-on the site. Staff is requesting <br />that the City Council authorize the acquisition of this parcel and to execute to the <br />documents necessary to transfer the property into city ownership, <br /> <br />Recommendation: <br /> <br />Staff recommends that City Council authorize Mayor and City Administrator to execute <br />necessary documents relating to the purchase of 6590 141st Avenue NW contingent on <br />City Attorney approval. <br /> <br />Council Action: <br /> <br />Authorize execution of a purchase agreement and related documents to complete the <br />acquisition of 6590 141st Avenue NW contingent on City Attorney approval. <br /> <br />Reviewed by: <br />Community Development Director <br /> <br />CC: 06/27/06 <br /> <br />-355- <br /> <br /> <br />