PORT OF SEATTLE
MEMORANDUM
COMMISSION AGENDA
Item No.
8a
Date of Meeting
December 13, 2011
DATE: December 13, 2011
TO: Tay Yoshitani, Chief Executive Officer
FROM: Joe McWilliams, Managing Director, Real Estate and Property Management
Isabel Safora, Deputy General Counsel
SUBJECT: Purchase and Sale Agreement for a Portion of the Woodinville Subdivision of the
BNSF (Eastside Corridor)
ACTION REQUESTED:
Request Port Commission Authorization for the Chief Executive Officer to execute a Purchase
and Sale Agreement with the City of Kirkland for the sale of a portion of the Woodinville
Subdivision (“Eastside Corridor”).
BACKGROUND:
The City of Kirkland unanimously approved the transaction at its council meeting of December
12, 2011. The purchase price for this portion of the Corridor is $5 million. In order for the City
to begin its due diligence on the Corridor, the Agreement must be executed by both parties. Port
staff will return to the Commission prior to closing the sale to request adoption of a resolution
declaring this portion of the Corridor surplus and authorizing its sale to the City.
OTHER DOCUMENTS ASSOCIATED WITH THIS REQUEST:
Purchase and Sale Agreement.
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS:
None.
