CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to the sale of lots 1, 2, 3, and 4 of Block 7 of the Latona Addition to the City of Seattle, as per plat recorded in Volume 4 of Plats, on page 28, records of King County (the "Property"); finding that City ownership of the Property no longer serves municipal purposes; amending Ordinance 96106; authorizing the sale of the Property for not less than $2,575,000; authorizing the Director of Finance and Administrative Services to execute all documents and take other necessary actions to complete the Property's sale; directing the deposit of the net sale proceeds; and ratifying and confirming certain prior acts.
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WHEREAS, the definition of "Property" as set forth in Section 1 of this ordinance is incorporated into these recitals by reference; and
WHEREAS, in 1966, for purposes of the then-proposed re-alignment of NE Pacific Street, the predecessor to the Seattle Department of Transportation (SDOT) acquired via statutory warranty deed title to lots 1, 2 and 3 of the Property; and
WHEREAS, Ordinance 95705 - whereby the City accepted title to lots 1, 2 and 3 - did not provide that such were lots "laid off" for street purposes; and
WHEREAS, in 1967, again for purposes of the then-proposed re-alignment of NE Pacific Street, pursuant to Ordinance 96106 SDOT acquired via statutory warranty deed lot 4 of the Property; and
WHEREAS, Ordinance 96106 expressly stated that lot 4 was "laid off, opened, widened, extended and established" for street purposes; and
WHEREAS, purchase money for the Property came from gasoline tax receipts from the Arterial Street Fund; and
WHEREAS, the final re-alignment of NE Pacific Street did not utilize any part of the Property; and
WHEREAS, while for many years SDOT has used the Property for the storage of road-building/repair materials, it recently declared the Property excess to its needs; and
WHEREAS, pursuant to a Memorandum of Agreeme...
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