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Record No: CB 118339    Version: 1 Council Bill No: CB 118339
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
On agenda: 3/23/2015
Ordinance No: Ord 124737
Title: AN ORDINANCE relating to the Pike Place Market Preservation and Development Authority; authorizing the Director of the Office of the Waterfront to enter into a development agreement to distribute $34 million in bond proceeds and to convey certain real property located at 1901 Western Avenue, Seattle, Washington to the Authority for the development of a mixed-used project with public parking, low-income housing, public open space, retail and commercial space; authorizing the acceptance of an easement from the Authority on that property; and authorizing the Director of the Office of the Waterfront and the Housing Director to execute documents and take other actions in connection with this project.
Sponsors: Jean Godden
Attachments: 1. Att A: Pike Place Market PC1-North Development Agreement v2, 2. Att A: Pike Place Market PC1-North Development Agreement v1
Supporting documents: 1. Summary and Fiscal Note, 2. Summary Att 1: PC1-North Property Map, 3. Pike Place Market Development Agreement Presentation, 4. Central Staff Memo, 5. Memo Att: Proposed Substitute to Att A, 6. Signed Ord 124737
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the Pike Place Market Preservation and Development Authority; authorizing the Director of the Office of the Waterfront to enter into a development agreement to distribute $34 million in bond proceeds and to convey certain real property located at 1901 Western Avenue, Seattle, Washington to the Authority for the development of a mixed-used project with public parking, low-income housing, public open space, retail and commercial space; authorizing the acceptance of an easement from the Authority on that property; and authorizing the Director of the Office of the Waterfront and the Housing Director to execute documents and take other actions in connection with this project.

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WHEREAS, the Pike Place Market Preservation and Development Authority (Authority) was chartered pursuant to Seattle Municipal Code 3.110 (Ordinance 103387 as amended), and RCW 35.21.730 et seq., to undertake "renewal, rehabilitation, preservation, restoration and development of structures and open spaces" in the Pike Place Market "in a manner which affords a continuing opportunity for Market farmers, merchants, residents, shoppers and visitors to carry on their traditional market activities" and, among other activities, "preserve and expand the residential community, especially for low-income people;" and
WHEREAS, the City owns certain land in the Pike Place Urban Renewal Project area designated as PC-1 North in the Pike Place Urban Renewal Plan as amended in January of 1974, pursuant to Ordinance 102916, and as extended by Ordinance 124361. The property consists of approximately 0.75 acres and is bounded by Western Avenue to the east, the Alaskan Way Viaduct (Viaduct) to the west, the existing Pike Place Market parking garage to the south, and Victor Steinbrueck Park and the Market Place North parking garage to the north; and
WHEREAS, the PC-1 North site was occupied by th...

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