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IOLA like <br /> Ar-- <br /> o City of Tukwila <br /> o Allan Ekberg, Mayor <br /> 908; INFORMATIONAL MEMORANDUM <br /> TO: Finance Committee <br /> FROM: Derek Speck, Economic Development Administrator <br /> CC: Mayor Ekberg <br /> DATE: November 28, 2018 <br /> SUBJECT: Status Update on Sale of Longacres Parcel <br /> ISSUE <br /> This memo is a status update on the potential sale of the Longacres parcel, which is the <br /> approximately 3 acre parcel of city-owned, vacant land adjacent to Longacres Way and the <br /> Sounder commuter rail station. <br /> BACKGROUND <br /> On March 5, 2018 the City Council approved Resolution #1927 which declared certain city- <br /> owned properties as surplus, authorized the Administration to engage in a process to receive <br /> offers and selecting the buyer, and established a process to set the minimum price for each of <br /> the properties. One of those properties is the Longacres parcel, which is a 3.18-acre parcel of <br /> vacant land located adjacent to Longacres Way across the street from the Sounder commuter <br /> rail station (Assessor Parcel Number 242304-9034). <br /> In September 2018 the City issued a Request for Proposals (RFP) for the Longacres parcel. <br /> Proposals were due on October 31, 2018. The City received three proposals. <br /> DISCUSSION <br /> The purpose of this agenda item is to give the Council a status update on the process. <br /> Following is an overview of the proposals, listed alphabetically. <br /> Overview of Proposals <br /> Alliance Momentum Pulte <br /> Price $2,240,000 $1,600,000 $2,030,000 <br /> Concept Multi-family Multi-family residential 300 residential <br /> residential over 5 levels of parking condominium flats on <br /> for rail commuters. podium <br /> Possibly office. <br /> Income or Rent None None None <br /> Restrictions <br /> 13 <br />