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Record No: CB 120058    Version: 1 Council Bill No: CB 120058
Type: Council Bill (CB) Status: Full Council Agenda Ready
Current Controlling Legislative Body Finance and Housing Committee
On agenda: 5/10/2021
Ordinance No:
Title: AN ORDINANCE relating to the Office of Housing (OH); authorizing the acceptance of a transfer of real property in Southeast Seattle for the purpose of development of affordable housing and other related uses, and for general municipal purposes; placing the property under the jurisdiction of OH; and ratifying and confirming certain prior acts.
Sponsors: Teresa Mosqueda
Attachments: 1. Ex A - Real Property Transfer Agreement, 2. Ex A Ex B - Form of Deed, 3. Ex A Ex C - Form of Affordable Housing Covenant, 4. Ex A Ex D - Form of Restrictive Covenant
Supporting documents: 1. Summary and Fiscal Note, 2. Summary Att 1 - List of sites for acceptance, 3. Summary Att 2 - Map of sites, 4. Presentation
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the Office of Housing (OH); authorizing the acceptance of a transfer of real property in Southeast Seattle for the purpose of development of affordable housing and other related uses, and for general municipal purposes; placing the property under the jurisdiction of OH; and ratifying and confirming certain prior acts.
body
WHEREAS, the Central Puget Sound Regional Transit Authority ("Sound Transit"), a Washington municipal corporation, is the owner of certain surplus real property located in Seattle, Washington, further described in the Real Property Transfer Agreement attached as Exhibit A to this ordinance and incorporated by this reference (the "Property"). The Property is comprised of 16 individual tax parcels grouped into ten development sites; and
WHEREAS, pursuant to RCW 81.112.350, Sound Transit has additional power to further equitable Transit-Oriented Development (TOD) goals by disposing of surplus property to certain qualified entities on the express condition that such surplus property is developed and operated as affordable housing consistent with the requirements of RCW 81.112.350; and
WHEREAS, Sound Transit acquired all of the subject parcels except for one (parcel ID #4281400385-00) in part with funding provided by the Federal Transit Administration (FTA). Sound Transit and OH approached FTA about transferring the properties to The City of Seattle for affordable housing, particularly to increase the supply of affordable homeownership opportunities in the Rainier Valley. On September 9, 2020, following publication in the Federal Register, the FTA Region X office approved the transfer of the properties pursuant to 49 USC 5334(h). The approval allows Sound Transit to transfer the properties to The City of Seattle with discharge of the repayment obligation to FTA, provided the properties remain in their permitted use for at least five years. As...

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