Sea-Tac Des Moines Creek Park WSDOT Surplus 20201001 Presentation Prop

Property Acquisition for Des Moines Creek Park October 1, 2020 BACKGROUND  Since 2018, the City of SeaTac has expressed an interest in acquiring approximately 8-acres of forested WSDOT surplus land adjacent to Des Moines Creek Park.  Expands open space to allow for an improved trail system.  New trailhead to include educations and outreach elements, recreation amenities, safer ingress and egress and expand capacity.  Preserves high value conservation property adjacent to one of the city’s salmon bearing streams.  Listed in PROS Plan to increase recreation opportunities and trails. BACKGROUND  In 2019, City Council authorized staff to pursue grant funding opportunities.  To begin formalized discussion with WSDOT regarding the acquisition of the subject property.  Secured $2.29M to date for acquisition purposes.  Additional $1M to be decided in 2021-2022 budget process. MAP OF PROPERTY CURRENT FUNDING SOURCES 2019 King County Conservation Futures Grant $1.1 M City Matching Requirement $1.1 M (403 Fund) Proceeds from sales of Conservation Property $90,000 2020 King Conservation Futures Grant $0.5 M (Awarded if City matches) City Matching Requirement $0.5 M (TBD) TOTAL FUNDING $3.29M ($1M pending/TBD) A third party, independent appraiser has been hired to determine a fair market value between the range of $5.2M and $5.8M. APPROACHES ON ACQUIRING SUBJECT PROPERTY  Purchase portions of the 8-acres over time as funding becomes available or;  Enter into a purchase and sales contract for the entire 8-acres BENEFITS OF ENTERING INTO CONTRACT  Provides price certainty for the City…

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PSCAA Advisory Council Meeting Agenda
Add to CalendarMWednesday Mar 11, 9:00am - 11:35am
1904 3rd Avenue, Suite 105, Seattle, WA 98101
Call to order – Roll Call – Quorum Established – Land Acknowledgement We would like to acknowledge that our Agency operates in four present-day counties, which are the traditional lands of the Coast Salish people, past and present. This acknowledgement does not take the place of authentic relationships with indigenous communities in our jurisdiction and [...]