HomeMy WebLinkAbout3722 ResolutionRESOLUTION NO. 3-72-2-
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A RESOLUTION of the City of Pasco, Washington, approving the sale
of certain real property near 20'" Avenue and Argent Road.
WHEREAS, the City owns approximately 10 acres of real property at the intersection of
20`s and Argent Road for development purposes; and
WHEREAS, Columbia Basin College has petitioned the City to sell a portion of that
property for the purpose of college housing; and
WHEREAS, a proposal has been submitted to the City by CBC Student Housing, LLC,
for the purpose of constructing such housing opportunities for the College to be built upon up to
4.751 acres of a portion of the City's property; and
WHEREAS, the appraisal, together with the site improvements that will be made to and
benefit the remaining City -owned parcel, demonstrate a value in excess of $4.00 per square foot
which the City Council accepts as an appropriate price for this specific project; and
WHEREAS, the proposed use of the property advances the economic development goals
of the City, as well as enhancing the educational opportunities within the City. NOW,
THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DOES RESOLVE
AS FOLLOWS:
Section 1. That the City sale of certain real property consisting of up to 4.751 acres
to CBC Student Housing, LLC, for the purpose of college housing in conjunction with Columbia
Basin College according to the terms as described in the Purchase and Sale Agreement attached
hereto as Exhibit A.
Section 2. That the City Manager is hereby authorized to execute all documents
necessary to effect the sale of the property in accordance with the Purchase and Sale Agreement.
PASSED by the City Council of the City of Pasco at a regular meeting this 1st day of
August, 2016.
Matt Watkins, Mayor
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De ra lar , ity Jerk
Leland B. Kerr, City Attorney