Drafter
Clerk 11/04/2009
Title
A MOTION requesting the executive to negotiate amendments with Summit Place 156, LLC to the Summit Pit Purchase and Sale Agreement and negotiate amendments to the Memorandum of Agreement with Summit Place 156, LLC and the city of Maple Valley.
Body
WHEREAS, the county is the owner of a 156.5 acre parcel located in the city of Maple Valley, utilized by the King County roads maintenance division, and containing an active gravel mine, and
WHEREAS, the city of Maple Valley ("the city") has been engaged with the county and Summit Place 156, LLC ("the developer") in a joint planning process under a Memorandum of Agreement ("MOA") executed on October 1, 2008, and
WHEREAS, the county and the developer executed a real estate purchase and sale agreement for the parcel on February 19, 2009, and
WHEREAS, in part due to the issues relating to joint planning and annexation, the developer has not had an opportunity to satisfy itself with the condition of the parcel for its contemplated use, especially as to whether land use approvals, permits and variances can be obtained under existing land use and zoning codes, or codes yet to be adopted and under consideration, and
WHEREAS, the developer has recently requested that the county executive consider amending the purchase and sale agreement in order to extend by one year, all critical dates in the purchase and sale agreement including the county's and the Developer's feasibility periods and closing dates, and
WHEREAS, the developer seeks the one year extension of all critical dates relating to its feasibility period and closing date. As such an extension will potentially subject the King County road fund to additional borrowing and inflationary construction costs, the developer has agreed to pay consideration of $100,000, and
WHEREAS, the developer offered certain concessions that will assist the joint planning effort with the city; specifically, the developer has offered to per...
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