HomeMy WebLinkAbout09-100 Amd E - Segale Properties (La Pianta LLC) - Tukwila South Development Agreement09-100(e)
Council Approval N/A
AGREEMENT BY AND
BETWEEN THE CITY OF TUKWILA
AND SEGALE PROPERTIES LLC, FOR THE
TUKWILA SOUTH DEVELOPMENT
THIS AGREEMENT (Agreement) is made and entered into this 30 t day of October,
2013, by and between the CITY OF TUKWILA ("City"), a non -charter, optional code
Washington municipal corporation, and SEGALE PROPERTIES LLC, a Washington limited
liability company ("Segale"), formerly known as "LA PIANTA LLC."
I. RECITALS
WHEREAS, the City and Segale entered into a certain Development Agreement relating
to the Tukwila South development ("Tukwila South"), dated June 10, 2009 (the "Development
Agreement") as amended pursuant to that certain First Amendment to Development Agreement
dated May 18, 2010 (the "First Amendment"); and
WHEREAS, Section 4.8.3 of the Development Agreement requires the Parties to agree
on the development of accounting protocols in order to track operations and maintenance costs
related to servicing Tukwila South, as well as tracking revenue generated by the development;
and
WHEREAS, the parties agree that before accounting protocols are developed, it would be
beneficial to review the assumptions upon which the need for accounting protocols was based;
and
WHEREAS, this Agreement does not materially modify the intent and policy of the
Development Agreement for the purposes of Section 8 of the Development Agreement; and
NOW, THEREFORE, in consideration of the mutual promises set forth herein and the
long-term benefit to both the City and Segale, the parties hereby agree as follows:
II. AGREEMENT
1. Defined terms used herein shall have the meanings set forth in the Development
Agreement. Segale and La Pianta may be used interchangeably, and shall be deemed to refer to
the same entity.
2. The parties agree to extend the deadline for development of the accounting protocols,
pursuant to Section 4.8.3 of the Development Agreement to April 30, 2014, pursuant to the
following conditions:
a. The parties will meet and confer no later than November 30, 2013 to discuss
options related to the financial guarantee, outlined in Section 4.8 of the
Development Agreement.
�,4 a d 1^lc��Y
b. The City agrees that any proposal it makes regarding alternatives to the financial
guarantee will relate to and benefit the Tukwila South development.
c. The parties expressly acknowledge that the requirement for the accounting
protocols cannot be modified without an amendment to the Development
Agreement. This amendment will require approval by the City Council. If the
parties desire to amend the Development Agreement for the purposes discussed
herein, a proposed amendment must be presented to the City Council no later than
January 13, 2013 and it must be approved by the City Council no later than March
3, 2013.
d. If agreement cannot be reached regarding alternatives to the financial guarantee
by March 3, 2014, the accounting protocols shall be developed and agreed upon
no later than April 30, 2014.
e. In the event the parties do not agree on the accounting protocols by April 30,
2014, the Development Agreement shall terminate, pursuant to Section 4.8.3 of
the Development Agreement.
3. This Agreement shall be enforced consistent with terms and conditions of the
Development Agreement, including the dispute resolution provisions set forth therein.
DATED this 36 b day of October, 2013.
CITY OF TUKWILA
IM
Attest/Authenticated:
. City Clerk
Approved as to Form:
q-ff-utes� — 1
Office of the City Attorney
SEGALE PROPERTIES LLC
-2-
Mgfiager: Metlp Ld Development
Mark A. Segale,\Ui -President
E§]',
SEGALE
PROPERTIES
A
LIMITED LIABILITY COMPANY
COMMERCIAL • INDUSTRIAL • AGRICULTURAL • NATURAL
RESOURCES
April 30, 2014
Jim Haggerton
Mayor
City of Tukwila
6300 Southcenter Blvd., #100
Tukwila, WA 98188
Re: Accounting Protocols Deadline
Dear Mayor Haggerton,
I am writing to you concerning the October 30, 2013 agreement between Segale Properties LLC and the
City of Tukwila, which agreement extends the deadline for establishing accounting protocols pursuant to
the Tukwila South Development Agreement. As you know, Segale and the City have worked hard to
meet the deadlines set forth in the agreement, and we have developed an alternative to the financial
guarantee that we hope to present to the City Council in the coming weeks. Therefore, I propose that
we extend the deadline for agreeing on accounting protocols from April 30, 2014 to June 16, 2014. If
you agree on the proposed deadline extension, please sign the acknowledgement below and return a
copy of this letter to me.
Very truly yours,
z
PROPERTIESSegalesident
Acknowledgement:
CITY OF TUKWILA
Dated: 6-P /1-3,0
PO BOX 88028 • TUKWILA, WA 98138 • 5811 SEGALE PARK DRIVE C • TUKWILA, WA 98188
P 206.575.2000 ■ F 206.575.1837 • www.segaleproperties.com