AN ORDINANCE relating to the sale of City real property for residential development; authorizing the sale of the site located at 6th Avenue and Yesler Way to Stream Real Estate, LLC; authorizing the Director of Housing to execute, deliver, and administer the contract for sale of land, deed, and related documents; authorizing other actions related to the disposition and use of the property; and ratifying and confirming certain prior acts.
Agenda item a council bill 118440 relating to the sale of city real property for residential development. Councilmember Okamoto. Real quickly, this is a city surplus property sale. We get fair market value off of the sale. We've dedicated the proceeds to be used for affordable housing at the lowest level. The developer has committed also to do low income housing, and there's a chance we can get child daycare on site here in the downtown area. It's a very good deal. I want to thank the Office of Housing for negotiating something that's a win win win for all the way around. And I urge my colleagues to support this this council. Bill. Thank you. Questions or comments? Please call the roll on the passage of the bill. All right, Gordon. I Harrell. All right, Licata. I. O'Brien. Hi. Okamoto, I. Want. I am President Burgess high eight in favor and opposed. The bill passes and the chair will sign it. The Report of the Parks Seattle Center, Libraries and Gender Pay Equity Committee. Please read Item nine.