Tagpos_rm_2022_06_23(2)

Port of Seattle Regular Meeting Jun 23, 2022

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2022-07-12
Ground lease agreement: Des Moines Creek West

This is a Ground Lease Agreement between the Port of Seattle and PDC Seattle LPIV BB/TH, LLC for the property known as Des Moines Creek West, presented at a Port of Seattle Commission meeting on July 12, 2022. The agreement establishes the terms under which the tenant may develop and operate a business park project on Port-owned land near Seattle-Tacoma International Airport, covering provisions for rent, construction obligations, environmental compliance, and tenant rights. Key definitions include conditions for the lease commencement date, force majeure events, and restrictions on property use, including limitations related to flight kitchen operations serving SeaTac Airport airlines.

TagsDes Moines, Des Moines Creek Business Park, Port Of Seattle, pos_rm_2022_06_23, Real Estate
2022-07-12
Ground lease agreement: Des Moines Creek West

A ground lease agreement between the Port of Seattle and PDC Seattle LPIV BB/TH, LLC for the property known as Des Moines Creek West. The document outlines the terms and conditions of the lease including definitions, rent structure, construction obligations, environmental compliance, and tenant rights. The agreement was presented as an attachment at the Port

TagsDes Moines, Des Moines Creek Business Park, Port Of Seattle, pos_rm_2022_06_23, Real Estate

As the source for federal transportation grants, the Puget Sound Regional Council was charged with developing a system to meet the growing need for commercial aviation. When the search for a second airport failed, they authorized the Port of Seattle to build the Third Runway, with a mandate to develop a noise abatement and mitigation program. In their effort to stop the Third Runway, the ACC argued over every detail of the Port's efforts--including property buyouts and sound insulation. The dispute was meant to be settled by a three member Expert Arbitration Panel. This is their final report. It finds 2-1, that the Port's program was insufficient in several respects. Despite that, funding for the Third Runway was approved by the PSRC, and the 'Port Package' program, proceeded largely unchanged. Expert Arbitration Panel's final decision finding that the Port of Seattle had not shown sufficient reduction in real on-the-ground noise impacts to satisfy noise reduction conditions required for approval of a third runway at Sea-Tac International Airport. The majority decision concluded the Port's noise abatement programs were insufficient despite being impressive in scope.

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