Bothell, Wash. - The revitalization of Downtown Bothell is one step closer thanks to a $20.6 million Purchase and Sale Agreement (PSA) between the City of Bothell and Northshore School District. The agreement enables the City to purchase the 18-acre district-owned property located just west of SR 527. The PSA establishes a purchase price of $20,670,000 with a majority of this expense ($18,750,000 payable to the District in August 2011). This delay in payment is timed to allow the District to relocate its facilities now on the property by August 2010. The Bothell City Council unanimously approved the agreement at its Feb. 17 meeting while the School Board gave its approval of the document on March 10.
The property purchase will allow the City to achieve the community's Downtown Revitalization vision, an effort in motion since 2006. The timeline for the purchase and sale allows the district to construct new facilities over the next two years to house the programs and services currently located on the property.
"Simply and proudly put: this is win-win for the people of Bothell and the children of Northshore School District. With this historic property purchase between City of Bothell and Northshore School District, both public agencies are working together to carefully protect and enhance the value of public resources while improving the quality of life for the citizens of Bothell today and well into the future," said City of Bothell Mayor Mark Lamb. "As the City celebrates its Centennial this year, it's most fitting that our City and public schools are displaying the same bold, cooperative and visionary frontier spirit to grow and improve our community as our founders did 100 years ago."
Under state law, the proceeds of the sale can only be used to fund capital construction costs for Northshore schools.
"We are happy to have worked with the City to support the needs of Bothell residents and businesses, as well as Northshore students," said Northshore Superintendent Larry Francois. "Our community will benefit because this agreement will provide funding for capital projects that create jobs and boost the local economy."
"This is a once in a lifetime opportunity that will positively affect this community's future for generations," said City Manager Bob Stowe. "While there are many benefits associated with the PSA, perhaps the most visible and enduring will be the value of advance master planning the entire 18 acres consistent with the vision our citizens have articulated for their downtown."
In 2007, the City and the District signed a Memorandum of Understanding (MOU) related to the possible purchase. The Purchase and Sale Agreement is a direct result of the MOU, which creates mutual benefits for both parties such as, but not limited to:
• The acquisition provides the needed land to accommodate the future expansion of SR 527 (to develop as a Multiway Boulevard) and makes way for the possible extension of the City street system into the school district site to ensure an adequate street circulation system for Downtown Revitalization.
- The property provides a possible location for a public or public/private joint venture parking structure to accommodate downtown parking needs and possible locations for public amenities, such as an aquatics center, public plazas and/or open space.
- The preservation of the Anderson Building as a cherished structure is now made possible with this purchase.
- The acquisition supports economic development efforts to facilitate a long-term revitalization of the downtown core and promote the creation of new family-wage jobs.
Following the Council's decision to surplus remaining property not needed to accommodate public roads, facilities, and other amenities as part of the downtown revitalization, the City will surplus remaining areas to private parties to be developed in accordance with the City's Downtown Plan and vision. The District site is being acquired in total because the District was only interested only in selling the site as a whole.
In 2003, Northshore School District moved its administration office formerly located on the site to the Monte Villa Business Park. The former district office was used by the Northshore Family Center as well as other local organizations until this year when the tenants were relocated, leaving the 18-acre property available for resale. Existing buildings on the site are the Anderson Building and Cafeteria, Northwest Center Pool, and the district's transportation facility. The district programs and buses housed at the site will move to new locations over the next two years. The 18-acre property does not include the Pop Keeney Stadium or its surrounding recreational facilities, which remain under District ownership and operation.
For Downtown Bothell Revitalization details, visit www.ci.bothell.wa.us, call the Citizen Inquiry Line at 425.806.6897 or email downtownplan@ci.bothell.wa.us.
About Downtown Bothell Revitalization
In its 100-year history, City of Bothell has gone from frontier town to vibrant employment and educational center. The City is celebrating its Centennial this year and continually strives to provide even greater opportunities for citizens through new downtown jobs and housing options, new and improved public spaces, and by reconnecting the City to its river heritage. The City is working on several projects to restore the vibrancy to downtown and give the figurative heart of the City its beat.
In Bothell's recent history, the development of the technology corridor fueled the local economy and provided financial resources to fund municipal services. Now, proposed plans promise to produce the next generation of Bothell reinvestment. In the next 25 years, proposed downtown public projects using existing resources and grants are projected to catalyze $670 million in private mixed-use investment which includes 1,360 new permanent family-wage jobs, 2,700 residential units, and 650,000 square feet of commercial space to house new business in Downtown Bothell.
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