Title
Approval of Memorandum of Understanding with the Olympia Capitol Park Foundation Regarding Isthmus Property
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the Memorandum of Understanding between the City of Olympia and the Olympia Capitol Park Foundation regarding fundraising for demolition and development of isthmus properties.
Report
Issue:
Approval of MOU which outlines commitments by the City and Olympia Capitol Park Foundation for use of donated funding.
Staff Contact:
Jay Burney, Assistant City Manager, 360.753.8740
Tom Morrill, City Attorney, 360.753.8223
Presenter(s):
Jay Burney, Assistant City Manager
Background and Analysis:
In June of 2013, the City of Olympia acquired two parcels (505 and 529 4th Avenue W) located on what is referred to as the isthmus.
The Olympia Capitol Park Foundation (OCPF) was a key partner in the acquisition, aiding staff in our lobbying efforts, and securing a $600,000 Conservation Futures grant from Thurston County.
OCPF also wishes to contribute an additional $400,000 in funding from private donations. The attached MOU outlines the commitments of both the City and OCPF in receiving this funding, as well as clarifying the intent to spend the funds on demolition and development activities on the two parcels.
Neighborhood/Community Interests (if known):
N/A
Options:
1. Move to approve the Memorandum of Understanding between the City of Olympia and the Olympia Capitol Park Foundation.
2. Do not approve the Memorandum of Understanding and provide staff with direction on next steps.
Financial Impact:
Demolition of the two buildings on the isthmus properties (former County Health building and former Housing Authority building) is estimated at $1,000,000. The $400,000 in funding to be provided by the OCPF will be used to offset demolition costs as well as future development costs.