HomeMy WebLinkAboutReg 2009-10-05 Item 6F - Agreement - Tukwila South Escrow with Bank of New York Mellon Trust and La Pianta COUNCIL AGENDA SYNOPSIS
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ITEM INFORMATION
CAS NUMBER: 09-138 I ORIGINAL AGENDA DATE: SEPTEMBER 28, 2009
AGENDA ITEM TITLE Authorize the Mayor to sign an Escrow Agreement with Bank of New York Mellon
Trust NA and La Pianta LLC, pursuant to Section 4.8.4.6 of the Tukwila South
Development Agreement
CATEGORY Discussion Motion I Resolution Ordinance Bid Award Public Hearing Other
Mtg Date 09/28/09 Mtg Date 10/05/09 Mtg Date Mtg Date Mtg Date Mtg Date Mtg Date
SPONSOR Council Mayor Adm Svcs DCD Finance Fire Legal P&'R Police PW
SPONSOR'S Hugh Spitzer, the City's bond counsel, has negotiated the Escrow Agreement between the
SUMMARY three parties, pursuant to Section 4.8.4.6 of the Development Agreement. Staff
recommends the Council authorize the Mayor to sign the attached Escrow Agreement with
Bank of New York Mellon Trust NA and La Pianta LLC, pursuant to Section 4.8.4.6 of the
Tukwila South Development Agreement at the October 5, 2009 Regular Meeting.
REVIEWED BY COW Mtg. CA &P Cmte F &S Cmte 1 1 Transportation Cmte
Utilities Cmte Arts Comm. Parks Comm. Fi Planning Comm.
DA LE: Tukwila South; no committee review
RECOMMENDATIONS:
SPONSOR /ADMIN. Mayor's Office
COMMII'I'EE N/A
COST IMPACT FUND SOURCE
EXPENDITURE REQUIRED AMOUNT BUDGETED APPROPRIATION REQUIRED
Fund Source:
Comments:
MTG. DATE RECORD OF COUNCIL ACTION
9/28/09 Forward to the Next Regular Meeting
10/05/09
MTG. DATE ATTACHMENTS
9/28/09 Informational Memorandum dated 9/28/09
Escrow Agreement
10/05/09 No Attachments