Ordinance 15536 - Proposed No. 2006-0051.1 - Authorizing sale agreement for North Lake Union Upper parcel

Sep 16, 2026

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Ordinance 15536 authorizes the King County executive to execute a purchase and sale agreement and all necessary conveyance documents to complete the sale of a county-owned property known as the North Lake Union upper parcel to Touchstone Corporation. Findings outline the site’s history, current transit maintenance use, the unsolicited offer structure, and conditions for divestment, including required cash, environmental cleanup, and replacement facility. It also summarizes RFP approval, proposal comparison, and selection results.

LanguageEnglish

CategoryLetters

FormatPDF

Pages174

Reading Time1 h 1 min

AccessFree to download

Findings

Property description and history

Unsolicited offer and divestment conditions

Budget and RFP process

Proposal responses and selection

Signature Report June 27,2006 Ordinance 15536 Proposed No.2006-0051.1 Sponsors Hague 1 AN ORDINANCE authorizing the executive to execute apurchase and sale agreement and all necessary conveyancedocuments to complete the sale of the county-ownedproperty known as the North Lake Union Upper parcel toTouchstone Corporation,located in council district 2. 2 3 4 5 6 7 8 BE IT ORDAINED BY THE COUNCIL,OF KING COUNTY. 9SECTION 1.Findings: 10A.King County owns 1.67 acre(72,893 square feet)parcel of land,commonly11 known as the North Lake Union Maintenance Facility or Tank Farm,located at 330112 Densmore Ave.North adjacent to Gasworks park in the city of Seattle,Washington13 King County Metro transit division is the custodian.14B.The property was originally developed as a bulk fuel storage facility by the15 Standard Oil Company of California(now Chevron Products Company)in the 1920s.16 The property was purchased from Chevron by the Municipality of Metropolitan Seattle17 (now King County Metro)as a fuel storage depot in 1982. 18 C.King County Metro transit currently uses the site to house certain maintenance 19 functions.These functions include bus shelter cleaning,a paint shop and landscaping of 20 transit facilities.There are approximately fifty-five people who currently work at this 21 facility. 22 D.King County Metro transit division received an unsolicited letter of intent in 23 October 2003 requesting to purchase the North Lake Union upper parcel and in return 24 ] King County Metro transit division would: 251.Receive a new maintenance site and facility; 262.Receive three million dollars in cash;and 273.Have the purchaser clean up any contaminated soil encountered during the 28development of the property at their expense. 29E.King County transit division concluded that the offer was of exceptional value30to the county. 31F.The transit division seeks to divest itself of the North Lake Union upper parcel32if certain conditions can be met. 33 G.The conditions set forth that make it possible for the transit division to divest 34 itself of this property are a cash payment of at least three million dollars,participation in 35 an environmental cleanup worth at least two million dollars and the replacement of 36 transit's existing maintenance facility,estimated to cost six million dollars. 37H.Ordinance 15083,which adopted the 2005 Annual Budget for King County,38 provided for the funding of certain capital projects. 39I.Ordinance 15083 included a provision requiring the King County executive to40submit to the King County council a request for proposals("RFP")an all cash alternative41to the above criteria. 42J.On January 10,2005,the King County executive submitted to the King County43 council a motion requesting approval for an RFP to advertise the upper parcel for sale to44the public. 45K.On January 26,2005,the budget and fiscal management committee amended46 the motion to reduce the amount requested under the all cash alternative to the appraised47 value of the property,or $4.35 million dollars.The motion was referred to the full48 council with a due pass recommendation as amended. 49L.On February 7,2005 the full council voted to approve the RFP as amended50and the motion was adopted. 51M.On March 25,2005 King County facilities management division,real estate52 services section did advertise the approved RFP for the sale of the upper parcel which53 included the all cash alternative,with responses due on May 25,2005. 54N.Two responses to the RFP were received on May 25,2005,one under the all55 cash alternative from Renova,a specialist in redevelopment of contaminated sites in the56 amount of 4.4 million dollars and one under the cash and replacement facility alternative57 from Touchstone Corporation with a cash value of 3.05 million dollars,site cleanup and a58 replacement site built to the specifications included in the RFP.The replacement site is59

FAQs

What does Ordinance 15536 authorize the executive to do?

It authorizes the executive to execute a purchase and sale agreement and all necessary conveyance documents to complete the sale to Touchstone Corporation.

What property is being sold under the ordinance?

The ordinance concerns the North Lake Union upper parcel, a King County-owned land parcel associated with the North Lake Union Maintenance Facility or Tank Farm.

How did the county evaluate the sale proposals?

The council approved an RFP, two responses were received, and a selection committee determined Touchstone Corporation’s proposal provided the best value.

Sep 16, 2026

Upload by Blaney