Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 22-111, approval of Real Estate Purchase and Sale Agreement between Cam Real Estate XIA, LLC, as seller and Snohomish County as buyer for real property located at 54420 State Route 2, Gold Bar, Washington, identified by tax parcel 27103400100700
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DEPARTMENT: Facilities
ORIGINATOR: Steven Tease
EXECUTIVE RECOMMENDATION: Approve - Ken Klein
PURPOSE: Council approval of a real estate purchase and sale agreement between CAM Real Estate LLC as seller and Snohomish County as buyer for real property located at 54420 State Route 2, identified by tax Parcel No. 27103400100700, near Gold Bar, Washington.
BACKGROUND: Snohomish County Council approved Motion No. 21-363 in 2021 approving the 2022 Surface Water Management Division Grant Work Plan. Approval of this grant includes Hazard Mitigation Grant Relocations and Acquisitions of real property that experience repetitive losses due to flooding or are at risk of substantial damage along rivers in Snohomish County. CAM Real Estate LLC owns real property that qualifies for this grant funding program, identifed as Tax Parcel No. 27103400100700, and consisting of 1.4 acres of land and a single family house. CAM Real Estate LLC is willing to sell the property to Snohomish County for the amount of $133,800.00 and to contribute 12.5% of the purchase price in the amount of $16,725.00 as required by the grant. The seller's contribution will be deducted from the purchase price at closing. The property will be restricted to open space in perpetuity and the County will be required to place deed restrictions on the property for open space. The sale of the property is voluntary and the seller is willing to sell to the County in accordance to the terms of the Hazard Mitigation Grant Agreement. The transfer of the property will be by statutory warranty deed.
FISCAL IMPLICATIONS:
EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU
CURRENT YR
2ND YR
1ST 6 YRS
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