HomeMy WebLinkAbout88-18 - Res. Authorizing Purchase of Real Property at 414 W Franklin Street RESOLUTION NO. VK- L�
A RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY LOCATED AT
414 W. FRANKLIN STREET, SHELTON WA.
WHEREAS, the County has an opportunity to purchase property ideally suited for future County
use and are desirous of taking advantage of the opportunity while the price is reasonable; and
WHEREAS, an agreement has been worked out between the county and the owners of the
property which the Board feels is reasonable; and
WHEREAS, the Board on October 23, 2018 approved a motion to purchase said property located
at 414 W. Franklin Street, Shelton WA; and
WHEREAS, the owner of the property has entered into a purchase sale agreement for the sale of
the property at $825,000 with 25% down payment and monthly installments for five years at a
rate of 4.5% interest; and
WHEREAS, financing for this purchase was approved by the Mason County Finance Committee
on October 17, 2018; and
WHEREAS, Mason County is authorized by RCW 82.46.010(2) to utilize REET 1 funds for the
purchase of capital property.
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners, that we hereby
authorize the Chair to execute a closing to purchase the property located at 414 W. Franklin
Street, Shelton, WA for $825,000 plus closing costs with a 25% down payment and monthly
installments at 4.5%for five years, on December 12, 2018.
FURTHER, that these amounts be paid from the REET 1 Special Fund #350.
ADOPTED:
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, WASHINGTON
ATTEST:
�--OJ24' el Rano Neatherlin, Chair
Cle t o oard
APPROVED AS TO FORM: erri Drexler, mmi 'oner
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Timhitehe , ief Deputy Prosecuting Kevin Shu , Co missioner
Attorney