CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the transfer of City real property for housing development; declaring the property located at 1314, 1326, and 1336 Yakima Avenue South (“PMA 1594”) surplus to the City’s needs; transferring the jurisdiction of this property from the Department of Finance and Administrative Services to the Office of Housing; authorizing its transfer to Homestead Community Land Trust or its designee; and authorizing the Director of the Office of Housing to execute and deliver the contract for transfer of land, deed, and related documents.
body
WHEREAS, the Department of Finance and Administrative Services (FAS) notified other City of Seattle (“City”) departments about the availability of the property at 1314, 1326, and 1336 Yakima Avenue South (“PMA 1594”) as excess to the City’s needs; and
WHEREAS, none of the notified departments indicated any interest in PMA 1594 except the Office of Housing (OH), which expressed its interest in facilitating the development of the property for affordable housing; and
WHEREAS, FAS prepared a preliminary report and recommendation for OH to solicit development proposals for use of the property for affordable homeownership opportunities; and
WHEREAS, in September 2017 the City Council adopted Resolution 31770, which provides that the City intends to prioritize the use of surplus properties for the development of affordable housing and to expedite such dispositions to create more affordable housing as quickly as possible; and
WHEREAS, the Office of Housing conducted a competitive process to select a developer for permanently affordable homeownership on PMA 1594; and
WHEREAS, the development team consisting of Homestead Community Land Trust and Edge Developers, LLC, was selected to develop this property as permanently affordable homeownership; and
WHEREAS, Homestead Community Land Trust and Edge Developers propose to develop 16 townhomes, at least ten of which will be affordable to households earning less than 80 percent of the area median income, and six or fewer will be sold at market rate in order to subsidize the low sales prices of the affordable homes; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Jurisdiction over the real property located at 1314, 1326, and 1336 Yakima Avenue South legally described below (“Property”) is hereby transferred from the Department of Finance and Administrative Services to the Office of Housing, at no cost to the Office of Housing:
Lots 5 through 11, Block 3, Jackson and Rainier Street Addition recorded in Volume 3 of Plats, page 65, Records of King County, Washington
Section 2. The Director of the Office of Housing (“Director”) is hereby authorized to assume jurisdiction over the Property and make the Property available for development of affordable housing.
Section 3. The Director is authorized to negotiate a property transfer agreement (“Agreement”) and any ancillary documents to accomplish the transfer of ownership of the Property to Homestead Community Land Trust (“Homestead”), a Washington nonprofit corporation, or with a designee of Homestead approved by the Director (Homestead and any approved designee, and any assignee of the Agreement approved by the Director, are referred to as “Transferee”), on the terms and subject to the conditions authorized in this ordinance.
Section 4. The Agreement shall reflect the provisions included in the Term Sheet attached to this ordinance as Attachment A, with such revisions and additions as the Director may determine are reasonably necessary to carry out the intent of this ordinance.
Section 5. The improvements to be developed on the Property are to include at least 16 townhomes, no fewer than ten of which are to be sold to households with incomes at or below 80 percent of median income at prices deemed to be affordable by the Director. Up to six of the townhomes may be sold at market value to subsidize the prices of the affordable homes. The townhomes, together with any additional improvements to be developed on the Property with the approval of the Director and all necessary regulatory approvals, are referred to in this ordinance as the “Project.”
Section 6. The Director is authorized to execute and deliver such additional documents, which may include amendments to the Agreement and related covenants, and to take such other actions, as may be necessary or appropriate to implement the intent of this ordinance, and to administer and enforce the Agreement, covenants, and any other such documents that the Director deems appropriate to implement the intent of this ordinance. The authority given to the Director in this ordinance may be delegated to and exercised by the Director’s designee.
Section 7. This ordinance shall take effect and be in force 30 days after its approval by the Mayor, but if not approved and returned by the Mayor within ten days after presentation, it shall take effect as provided by Seattle Municipal Code Section 1.04.020.
Passed by the City Council the ________ day of _________________________, 2019, and signed by me in open session in authentication of its passage this _____ day of _________________________, 2019.
____________________________________
President ____________ of the City Council
Approved by me this ________ day of _________________________, 2019.
____________________________________
Jenny A. Durkan, Mayor
Filed by me this ________ day of _________________________, 2019.
____________________________________
Monica Martinez Simmons, City Clerk
(Seal)
Attachments:
Attachment A - Term Sheet