HomeMy WebLinkAbout20-050 Authorizing the City Manager to Negotiate with Homeward Bound and Bayside Housing and Services to Transfer the Cherry Street Property and Improvements Resolution 20-050
RESOLUTION NO. 20-050
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND,
WASHINGTON AUTHORIZING THE CITY MANAGER TO NEGOTIATE WITH
HOMEWARD BOUND AND BAYSIDE HOUSING AND SERVICES TO TRANSFER THE
CHERRY STREET PROPERTY AND IMPROVEMENTS
WHEREAS, Homeward Bound acts as a community land trust and develops affordable
housing; and
WHEREAS, the City has contributed financially to the affordable housing development
including lending Homeward Bound financial resources towards a development on Cherry Street in
the City of Port Townsend; and
WHEREAS, the Homeward Bound's first loan payment was due July 1, 2020; and
WHEREAS, at Homeward Bound's request the City deferred the first payment until
October 1, 2020; and
WHEREAS, while Homeward Bound has made significant progress, it is unable to
complete the project and would like to negotiate with the City for a third-party affordable housing
provider to assume the project; and
WHEREAS, Bayside Housing and Services has expressed interest in the project and has
demonstrated the capacity to complete the project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Port
Townsend, Washington, the City Manager is authorized to negotiate an agreement or agreements
with Homeward Bound and Bayside Housing and Services for the transfer of the Cherry Street
property and improvements from Homeward Bound to Bayside Housing and Services. The City
Manager is authorized to take all steps necessary and execute all contracts necessary to negotiate a
final purchase and sale agreement, including ordering a property inspection.
ADOPTED by the City Council of Port Townsend, Washington, at a special meeting
thereof, held this 28th day of September 2020.
Michelle Sandoval
Mayor
Attest: Approved as to form:
Joanna Sanders MMC Ale
i iwoct ,
City Clerk City Attorney