Title
Resolution Concerning Columbia Street Downtown Housing Project
Recommended Action
Committee Recommendation:
Not referred to a Committee.
City Manager's Recommendation:
Adopt the attached resolution authorizing the City Manager to prepare and sign the necessary documents that are based upon the conditions and provisions set forth in the attached resolution, which are intended to clarify the City's contribution toward remediation, the protections the City will receive and the area covered by the restrictive covenant.
Report
Issue:
Should Council adopt a resolution authorizing the City Manager to prepare and sign the necessary documents concerning the property on Columbia Street between 4th and 5th Avenues that clarify the City's contribution toward a cleanup of the site, that clarify the protections the City will receive concerning potential liabilities at the site, and that modify an existing restrictive covenant on the property to allow a smaller scale market rate housing project on a portion of the property?
Staff Contact:
City Manager Steve Hall, 360.753.8370
City Attorney Tom Morrill, 360.753.8338
CP&D Director Keith Stahley, 360.753.8227
Presenter(s):
City Manager Steve Hall
Background and Analysis:
In 2008 the City of Olympia agreed to sell property on Columbia Street between 4th and 5th Avenues to a private development firm for the purposes of building a market rate housing project on the site. In order to encourage downtown housing and address potential environmental liability, the City agreed to participate in the environmental clean-up of the site and to sell the property for the express purposes of developing housing. As part of the agreement, the City placed a restrictive covenant on the deed for the property that limited the use of the property to a mixed use development comprised of: a commercial/retail/office component at street level; a market rate multi-family residential component; and associated parking....
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