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HomeMy WebLinkAboutITEM V-BReturn Address: City of Auburn City Clerk 25 West Main Auburn, WA 98001 Above this line reserved for recording information. JOINT PARKING DEVELOPMENT AGREEMENT AND OPTION TO PURCHASE Reference # (if applicable): Grantor/Borrower: KING COUNTY RURAL LIBRARY DISTRICT, DBA THE KING COUNTY LIBRARY SYSTEM Grantee/Assignee/Beneficiary: CITY OF AUBURN Legal Description/STR: Assessor's Tax Parcel ID#: Additional leaal in Exhibit A. This Joint Parking Development Agreement and Option to Purchase ("Agreement") is entered into on the day of January, 2011, by the City of Auburn ("City") and the King County Rural Library District, doing business as the King County Library System ("KCLS"). RECITALS 1. The City owns and operates Les Gove Park (the "Park"). Pursuant to a land lease (the "Lease"), dated April 29, 2010, the City currently leases certain land within the Park (the "Library Leased Park Property") to KCLS to operate a public library. KCLS operates an existing library facility and 60 stalls of related parking on the Library Property (the "Existing Parking"). The remaining parking stalls at the Park are owned by the City (the "City Parking") and are operated by the City as described in Section 20 of the Lease. 2. KCLS intends to expand its existing library facility (as so expanded, the "Library"). Based on the City Code requirement of one parking stall per 250 gross square feet of floor area for library uses (ACC 18.52.020) and the initial Joint Parking Development Agreement and Option To Purchase Page 1 of 7 information provided by KCLS on the size of the library expansion, KCLS needs to develop 20 stalls of additional parking and replace any displaced parking stalls that will be lost as a result of the expansion of the Library. 3. There are currently two parcels located at 1018 - 1022 Auburn Way South, Auburn (the "Subject Property"), adjacent to the Park campus, that are available for purchase. The Subject Property, which is legally described in Exhibit A attached hereto and made a part hereof by this reference, subject to the City's analysis and determination, appears to be adequate to accommodate the additional parking capacity necessary for the KCLS's expansion needs. JOINT PARKING DEVELOPMENT For valuable consideration, including the promises contained in this Agreement, the sufficiency of which is hereby acknowledged, the City and KCLS agree as follows with respect to the acquisition of the Subject Property and the development of the required additional parking thereon (collectively, the "Project"): 1. General. The Project will be undertaken in the following two phases: Phase 1. KCLS will acquire the Subject Property. The City will contribute financially to the purchase of the Subject Property in return for (i) the perpetual right to use any available parking stalls, (ii) the right to review and comment on the design and configuration of the Project, and (iii) an option to purchase the Subject Property if KCLS ever stops operating a public library on the Park campus. Phase 1 will commence upon execution of this Agreement. Phase 2. After obtaining any and all required permits and approvals from local, regional, state or federal agencies, as may be applicable, KCLS will demolish the existing structures on, will remove the fencing around, and will undertake other necessary code improvements to, the Subject Property in order to provide the parking and pedestrian access to the Library. Phase 2 will be completed during the construction of the expansion and renovation of the Library. 2. City's Responsibilities. The City shall: a. Contribute a portion of the funds required for the purchase of the Subject Property in the amount of $262,500.00. Such amount shall be reimbursed to KCLS by depositing the City's contribution into escrow upon receipt of KCLS's written request therefor accompanied by a fully executed copy of the Purchase and Sale Agreement and a copy of the closing instructions. Joint Parking Development Agreement and Option To Purchase Page 2of7 b. Provide timely review and comment on, and to the extent required by law, approval of the plans for the Project. 3. KCLS's Responsibilities. KCLS shall: a. Negotiate and consummate the purchase of the Subject Property; b. Submit to the City a request for the City's contribution to the purchase price for the Subject Property; C. Submit to the City the plans for the Project for review and comment; d. Manage the design of the Project; e. Manage the demolition of existing improvements on the Subject Property and the accomplishment of the Project; f. Pay the costs of the Project, subject to reimbursement from the City as set forth in this Agreement; g. Comply with all City codes and conditions of approval during and after construction for the Project and associated improvements; h. Obtain prior City authorization including receipt of any permits and approvals, as needed, for any future physical changes to the Project area; Operate the Project; and Maintain the Project. OPTION TO PURCHASE As part of the consideration for the parties' execution of this Agreement, KCLS hereby grants the City an irrevocable option to purchase the Subject Property (the "Option"). The term of the Option shall commence as of close of KCLS's escrow to purchase the Subject Property, and shall be perpetual. The City may exercise the Option only if the City has terminated the Lease because KCLS has ceased to operate a public library on the Library Leased Park Property as required thereunder. Upon receiving notice from KCLS that KCLS intends to stop operating a public library on the Library Leased Park Property, the City shall give KCLS not less than seventy-five (75) days advance written notice of its intent to exercise this option. Within five (5) days after the City's exercise of the Joint Parking Development Agreement and Option To Purchase Page 3 of 7 Option, the parties shall cause an escrow ("Escrow") to be opened at Chicago Title Insurance Company (the "Title Company") The title insurance herein required shall be furnished by the Title Company. Time is of the essence. If the Option is exercised, the Purchase Price shall be determined by taking the fair market value of the property and reducing the price pro rata based upon the ratio of the City's contribution to KCLS' purchase price of the Subject Property. Fair market value shall be determined by an independent appraisal performed by an appraiser mutually agreed upon by the City, and KCLS. If the parties cannot agree upon a mutually agreed upon appraiser, KCLS shall select one appraiser and the City shall select another appraiser, and those two appraisers shall select a third appraiser, and the three appraisers shall determine the fair market value. At the close of Escrow, KCLS shall: a. Convey the Subject Property to the City, or the City's designee, by statutory warranty deed subject to any title exceptions provided in the title report for the Subject Property obtained by the City, and such matters as shall hereafter be approved by the City; and b. Assign to the City, or to the City's designee, all assignable construction, equipment, and supplier warranties pertaining to the Subject Property. KCLS shall surrender possession of the Subject Property at the Close of Escrow. Concurrent with the KCLS Close of Escrow for the Subject Property, the City and KCLS shall execute and record this Agreement in the public records of King County, Washington. This Agreement and the Option shall run with the land, shall be recorded with the King County Recorder's Office against of the above property, and shall be binding upon the Grantor and its successors, assigns, and any subsequent purchasers. REMEDIES In case of a breach the parties reserve all remedies available under the law including but not limited to funds provided under this Agreement, or specific performance of any act required under this Agreement. Joint Parking Development Agreement and Option To Purchase Page 4 of 7 r CITY OF AUBURN By: Peter B. Lewis, Mayor Attest: Dani Daskam, City Clerk Approved as to form: Daniel B. Heid, City Attorney STATE OF WASHINGTON COUNTY OF KING ) ss. KING COUNTY LIBRARY DISTRICT, doing business as the KING COUNTY LIBRARY SYSTEM ~ V ~ By: William H. Ptacek, Director STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) I certify that I know or have satisfactory evidence that William H. Ptacek is the person who appeared before me, and said person acknowledged that he/she signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the Director of KING COUNTY RURAL LIBRARY DISTRICT doing business as the KING COUNTY LIBRARY SYSTEM, a Washington public corporation, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: (Sea[ or stamp) Notary Signature Print/Type Name Notary Public in and for the State of Washington, residing at My appointment expires Joint Parking Development Agreement and Option To Purchase Page 6 of 7 EXHIBIT A Subiect Property Assessors number 1921 0592 2203 and 1921 0592 3705 THAT POR71014 OF GOVERNMENT LOT 5 IN SECTION 19. TOWNSHIP 21 NORTH, RANG 5 EAST. W.M.. IN KONG COUNTY. WASHINGTON. DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID GOVERMENT LOT 5; RUNNING THENCE N07446'E ALONG THE EAST LINE OF SAID GOVERNMENT LOT 5 A DISTANCE OF 307.05 FEET TO THE NORTHEASTERLY BOUNDARY OF STATE HIGHWAY NO. 5 AND THE TRUE POINT OF BEGINNING, THENCE CONTINUING NO'24'48'E 352.15 FEET; THENCE S8976'16'W 327.52 FEET. TO THE SAID NORTHEASTERLY BOUNDARY OF STATE HIGHWAY NO. $ THENCE S43TT3'14'E ALONG SAID HIGHWAY BOUNDARY 477.49 FEET TO THE TRUE POINT OF BEGINNING; EXCEPT THE NORTHERLY 52 FEET OF EVEN WIDTH. AND EXCEPT ANY POR710N OF THE ABOVE DESCRIBED TRACT WHICH MAY UE WITHIN THE FOLLOWING DESCRIBED PROPERTY FROM A STONE MONUMENT WHICH IS THE SOUTHEAST CORNER OF GOVERNMENT LOT 5. SECTION 19. TOWNSHIP 21 NORTH. RANG 5 EAST. W.M.; RUNNING THENCE NO2446'E ALONG THE EAST LINE OF GOVERNMENT LOT 5 A DISTANCE OF 307.05 FEET TO THE NORTHEASTERLY BOUNDARY OF STATE HIGHWAY NO.5. THENCE CONTINUING NO2448'E 352.15 FEET. THENCE S5926'16'W 327.52 FEET TO THE SAID NORTHEASTERLY BOUNDARY OF STATE HIGHWAY NO. 5 AND THE TRUE POINT OF BEGINNING OF THE EXCEPTED TRACT; THENCE SOUTHEASTERLY ALONG THE SOUTHWEST LINE THEREOF 60 FEET; THENCE EASTERLY ON A LINE PARALLEL TO THE NORTH BOUNDARY OF SAID TRACT TO THE EASTERLY BOUNDARY LINE; THENCE NORTH ALONG EASTERLY BOUNDARY LINE TO THE NORTHEAST CORNER OF SAID TRACT: THENCE WESTERLY ALONG THE NORTH BOUNDARY OF SAID TRACT TO THE TRUE POINT OF BEGINNING. NOTES 4. PARCEL B AREA 38.784 t 5. THIS IS A FIELD TRAVERSE SURVEY. A SOKKIA FIVE SECOND COMBINED ELECTRONIC TOTAL STATION WAS USED 70 MEASURE THE ANGULAR AND DISTANCE REL.ATONSHIPS BETWEEN THE CONTROLLING MONUMENTATION AS SHOWN. CLOSURE RATIOS OF THE TRAVERSE MET OR EXCEEDED THOSE SPECIFIED IN WAC 332-130-090. ALL MEASURING INSTRUMENTS AND EQUIPMENT ARE MAINTAINED IN ADJUSTMENT ACCORDING TO MANUFACTURER'S SPECIFICATIONS. 6. UTUTES OTHER THAN THOSE SHOWN MAY EXIST ON THIS SITE. ONLY THOSE U7IUTES WITH EVIDENCE OF THEIR INSTALLATION VISIBLE AT GROUND SURFACE ARE SHOWN HEREON. UNDERGROUND UTILITY LOCATIONS SHOWN ARE APPROXIMATE ONLY. UNDERGROUND CONNECTIONS ARE SHOWN AS STRAIGHT LINES BETWEEN SURFACE UTILITY LOCATIONS BUT MAY CONTAIN BENDS OR CURVES NOT SHOWN. SOME UNDERGROUND LOCATIONS SHOWN HEREON MAY HAVE SM TAKEN FROM PUBLIC RECORDS OR FROM U71UTY LOCATION PAINTING PROVIDED BY UTILITY DETECTION SERVICES. LLC. CORE DESIGN ASSUMES NO LIABILITY FOR THE ACCURACY OF PUBLIC RECORDS OR THE WORK OF UTILITY DETECTION SERVICES. DATUM VERTICAL NAVD08 (US FEET) PER CITY OF AUBURN SURVEY CONTROL NETWORK BENCHMARK BENCHMARKS PROVIDED BY CITY OF AUBURN: BM 22-W. RR SPICE IN POWER POLE, E SIDE 'M' ST. SE. 61H POLE N OF 127H ST. SE. EL=109.24 SM 22-V. RR SPIKE IN POWER POLE, E SIDE 'M' ST. SE, 47H POLE N OF 127H SE. SE. EL 109.95 SITE BENCHMARKS AS SHOWN ON MAP: TBM 1. SCRIBED W ON CURB. EL=104.24 TOM 2, PK NAIL IN ASPHALT, EL-103.30 TSM 3. SCRIBED Y ON SIDEWALK, ELm104.49 Joint Parking Development Agreement and Option To Purchase Page 7 of 7 w A. A. 44 PY, IAJ ; W4.-- mt- - a fil Ili i-i N idi Itil it i 91