HomeMy WebLinkAbout95-076Resolution No. 95- ~'~;
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT
TOWNSEND APPROVING PINK HOUSE LEASE AGREEMENT WITH
LITTLE & LITTLE CONSTRUCTION, INC.
The City Council of the City of Port Townsend, WashingtOn, does resolve as follows:
WHEREAS, the City owns the "Pink House,' a historic structure located on Lawrence
Street, with legal description attached to the Lease Agreement; and
WHEREAS, the Pink House has been vacant for a number of years, without financial
benefit or use accruing to the City; and
WHEREAS, Bob Little of Little & Little Construction, Inc., has negotiated a 20-year
lease with the City, with a 10-year option to renew, subject to terms and conditions set forth in
the Lease; and
WHEREAS, Little & Little Construction, Inc. proposes to renovate the Pink House
structure pursuant to a Renovation Contract, providing the City with the long-term benefits of
the renovation work, as well as a predictable source of rental income; and
WHEREAS, as a condition of the Lease and Renovation Contract, the Pink House will
be renovated in a manner to preserve its historic character; and
WHEREAS, the rental amount, and property renovation work, amounts to fair market
value and use of the Pink House property; and
WHEREAS, the City Council deems it to be in the public interest to facilitate the rental
of the Pink House, and its use as commercial property,
NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Port
Townsend as follows:-
1. The Council approves the Lease Agreement, attached hereto, subject to the terms
and conditions set forth in the Lease Agreement; and
2. The Council authorizes the Mayor to sign the Lease Agreement, in substantially
the form attached hereto.
on this
ADO~PT~ED by the City Council of the
day of June, 1995.
Townsend and signed by the Mayor
M. Clise, Mayor
Attest:
~ng City Clerk
,?
Approved as to Form:
Timoth]
City Attorney
06/14/95 CA§Res\Little.doc}
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