RESOLUTION NO. 934
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UNIVERSITY PLACE APPROVING A DEVELOPMENT AGREEMENT BETWEEN THE CITY OF UNIVERSITY PLACE AND CHAMBERS BAY PROFESSIONAL CENTER LLC TO COMPLETE THE LARSON LANE PROJECT
WHEREAS, in order to complete the Larson Lane project, the City needs to obtain a roadway easement from the Chambers Bay Professional Center property located at 3560 Bridgeport Way West (owned by Bridgeport Professional Center, LLC); and
WHEREAS, the needed roadway area is located along the drive isle of the Chambers Bay Professional Center back parking area, and therefore in order to construct the roadway, some of the parking in that area would need to be eliminated; and
WHEREAS, the City owns the two parcels immediately to the north of the Chambers Bay Professional Center, which are encumbered with non-exclusive parking and access easements benefiting the Center; and
WHEREAS, in these parcels, there is sufficient room to provide additional Center parking as well as provide for public access to both Larson Lane and the City’s development lot (Town Center Lot 11) to the north; and
WHEREAS, the City has negotiated a Development Agreement in which Chambers Bay Professional Center would convey the needed roadway, utility, and pedestrian easements to the City for the construction of Larson Lane. In turn, the City would transfer a portion of the two adjacent City parcels to Chambers Bay Professional Center to accommodate additional parking, as well as construct the parking improvement on the conveyed property as depicted in the exhibit to the Development Agreement; and
WHEREAS, the values of the properties being transferred and work to be performed has been evaluated and determined to be of an equal aggregate value; and
WHEREAS, the proposed improvements will benefit the City by promoting and improving economic development;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PLACE AS FOLLOWS:
Section 1. City Manager Authorized to Execute Agreement. The City Council hereby authorizes the City Manager to execute the Development Agreement with Chambers Bay Professional Center, LLC substantially in the form attached to this Resolution.
Section 2. Completion of Transaction. The City Manager or designee is authorized to take and execute any additional measures or documents that may be necessary to complete this transaction and to implement the Development Agreement, which are consistent with the executed Development Agreement and the terms of this Resolution.
Section 3. Legislative Findings. To the extent that legislative findings are necessary, the recitals set forth above are hereby adopted as the City Council’s legislative findings in support of the transaction set forth in the Development Agreement.
Section 4. Effective Date. This resolution shall take effect immediately upon its adoption.
ADOPTED BY THE CITY COUNCIL ON OCTOBER 5, 2020.
Caroline Belleci, Mayor
Emelita J. Genetia, City Clerk
APPROVED AS TO FORM:
Matthew S. Kaser, City Attorney