HomeMy WebLinkAbout333940-0850 CORRECTED_COA Purchase Letter_5_13_2020.doc
May 13, 2020
To: QARES LLC & Mr. Steve Campau (steve@rentoncoinshop.com),
RE: (CORRECTED) PURCHASE PROPOSAL FOR KING COUNTY PARCEL IDENTIFICATION NUMBER (PIN)
333940-0850
I am sending you this letter on behalf of the City of Auburn. The City has, as previously discussed,
commissioned an appraisal to determine the current Fair Market Value (FMV) of the above referenced
PIN. Reflective of the appraisal dated March 24, 2020, and included for your review and reference, the
City of Auburn would like to offer QARES LLC Twenty Five Thousand Dollars ($25,000) for the purchase
of the property, subject to the following conditions: 1) review and acceptance of the property’s title
report and the ability to obtain a title commitment satisfactory to the City of Auburn; 2) a list of all
members and officers making up QARES LLC; 3) proof of your signing authority as the managing member
of QARES LLC; 4) approval of the purchase by Auburn City Council; and 5) approval of the purchase by
the King County Futures Committee.
By signing this document, you are agreeing in principal to the price and conditions stated above and
expressing the desire of QARES LLC to enter into a purchase contract for the property, based in
substantial conformity to the price and conditions stated above.
I, (Print Name)________________________________ hereby represent to the City of Auburn that I have
the authority to enter into a contract on behalf of QARES LLC and that QARES LLC wishes to enter into a
purchase contract for King County PIN 333940-0850 based in substantial conformity with the
aforementioned purchase price and conditions.
Signed: _____________________________, It’s (Print Title)______________________________
Once I have received an executed copy of this letter back from you, I can begin the process of having a
formal contract drafted by the City Attorney’s Office, as well as begin the process of obtaining the
approval of Auburn City Council and the approval of the King County Futures Board. If you have any
questions or would like to discuss any of the above referenced terms, please feel free to call or email me
at 253.561.1235 or Jarndt@auburnwa.gov.
Respectfully,
Josh Arndt
Sr. Economic Development Officer/Real Property Analyst
City of Auburn