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City Council Approved KCLS Term Sheet <br />6/25/12 <br />1 The City will sell the King County Library System (KCLS) a legal lot consisting of a <br />portion of the northeast corner of the intersection of Tukwila International Boulevard and <br />South 144th Street to KCLS for a 10,000 square foot library for a price of $500,000. The <br />lot boundaries shall be mutually agreeable to KCLS, the Developer, and the City. <br />2. KCLS shall submit a conceptual site plan for the library parcel and a conceptual <br />architectural design for the library building no later than 45 days following the date that <br />Tukwila Village Development Associates LLC (the "Developer ") submits a complete <br />design review application for the first phase of the Tukwila Village development. The <br />conceptual site plan for the library parcel must be mutually agreed upon by KCLS and <br />the Developer. <br />3. City shall ensure the Developer' s first phase shall include the shared infrastructure <br />needed to operate a library on the library parcel such as roads, shared utilities, shared <br />parking areas and storm water /water quality detention system. <br />3. KCLS will submit building permit applications within ten months after the date the <br />Developer submits building permit applications for the first phase. <br />4. KCLS and the City will close escrow after the KCLS building permit for the library and <br />the Developer's building permits for the first phase are ready to be approved. If KCLS is <br />unable to close escrow within 30 days from when its building permits are ready to be <br />approved, the agreement terminates. <br />5. If KCLS has not substantially commenced construction of its branch library on the library <br />parcel within six months from close of escrow or if KCLS has not completed construction <br />within two years from substantially commencing construction (unless such failure to <br />commence construction arises from any delay in construction or completion of the first <br />phase of the Tukwila Village project or force majeure events), the City may re- purchase <br />the Tukwila Library parcel at the same purchase price plus the reasonable cost of any <br />improvements. <br />6. All facades of the library shall be of high quality design consistent with the Library <br />System's standards for libraries recently built by KCLS. The City may use these <br />standards during the design review process. <br />7 KCLS will pay to Developer a proportionate and reasonable contribution towards shared <br />infrastructure costs that benefit the library branch and will agree to enter into reciprocal <br />easements for shared utilities, vehicular and pedestrian access, parking, drainage, water <br />quality treatment and detention systems, including shared maintenance costs. KCLS will <br />not be required to pay a parking management fee. <br />1 <br />