RESOLUTION NO. 3652

A RESOLUTION  of the Port Commission of the Port of Seattle
declaring certain real property located in the City of
Bellevue (a portion of the Woodinville Subdivision)
and any improvements located thereon surplus and
no longer needed for Port purposes, authorizing its
transfer to the Central Puget Sound Regional Transit
Authority ("Sound Transit") and authorizing the
Chief Executive Officer to execute all documents
related to such transfer; and further authorizing the
Chief Executive Officer to execute a permanent
easement granting Sound Transit easement rights
over the Port's railbanked portion of the Woodinville
Subdivision for potential future development of high
capacity transportation facilities.

WHEREAS, the voters of King County, pursuant to the provisions of enabling
legislation adopted by the Legislature of the State of Washington, Chapter 92, Laws of 1911,
RCW 53.04.010, authorized and approved at a special election held in King County on the 5th
day of September 1911, the formation of a port district coextensive with King County to be
known as the Port of Seattle; and

WHEREAS, the Port of Seattle was thereupon established as a port district and has since
been and now is a duly authorized and acting port district of the State of Washington; and

WHEREAS, the Port owns the real property described on attached Exhibit A (the
"Property") and all improvements thereon consisting primarily of railroad tracks and ties (the
"Improvements"); and

WHEREAS, on November 5, 2009, the Port entered into a Memorandum of
Understanding with King County, Sound Transit, Cascade Water Alliance, Puget Sound Energy
and the City of Redmond ("Regional Partners") setting forth the mutual understanding of the
parties for the completion of future transactions where the Regional Partners would purchase

from the Port interests in the Woodinville Subdivision and thus share in the cost of acquiring it;

and

WHEREAS, on June 30, 2010, the City of Redmond acquired the portion of the
Woodinville Subdivision located in the City of Redmond; and

WHEREAS, on December 20, 2010, Puget Sound Energy acquired an easement over
both the freight and railbanked portions of the Woodinville Subdivision; and

WHEREAS, the Central Puget Sound Regional Transit Authority ("Sound Transit")
wants to acquire the Property and the Improvements at this time for transportation uses,
including the construction of light rail facilities; and

WHEREAS, together with the proposed acquisition, Sound Transit wants to acquire a

permanent easement over the Port's railbanked portion of the Woodinville Corridor for potential
future development of high capacity transportation facilities; and

WHEREAS, the Port continues to negotiate with the other Regional Partners for the sale
of other property interests in the Woodinville Subdivision; and

WHEREAS, pursuant to Chapter 39.33 of the Revised Code of Washington
(Intergovernmental Disposition of Property Act) the Port may sell, transfer, exchange, lease or
otherwise dispose of real and personal property to the state, any municipality, or any political

subdivision thereof on such terms and conditions as may be mutually agreed upon by the
governing authorities of the participating entities; and

WHEREAS, the maps and other data regarding the Property proposed for transfer to
Sound Transit are on file at the offices of the Port's Real Estate Division; and

WHEREAS, the Port of Seattle Commission has heard from all persons desiring to speak
at said public hearing with regard to the proposed property transfer; and

WHEREAS, the members of the Port of Seattle Commission have considered the
proposed property sale and comments by members of the public attending the public hearing;

NOW, THEREFORE, BE IT RESOLVED by the Port Commission of the Port of
Seattle that:

Section 1.    The Property described on Exhibit A attached to this Resolution together

with all Improvements thereon is no longer needed for Port purposes and is declared surplus to

Port needs.

Section 2.   The Chief Executive Officer is authorized to take all steps and execute all

documents necessary to sell the Property and Improvements to Sound Transit for a purchase
price of Thirteen Million, Seven Hundred Fifty-Two Thousand, Three Hundred Ninety-Three
Dollars ($13,752,393).

Section 3.    The Chief Executive Officer is further authorized to execute a permanent

easement with Sound Transit substantially in a form as that of attached Exhibit B for potential

future development of high capacity transportation facilities over the Port's railbanked portion of

the Woodinville Corridor.

ADOPTED by the Port Commission of the Port of Seattle at a regular meeting thereof,

held this 10th day of May, 2011, and duly authenticated in open session by the signatures of the

Commissioners voting in favor thereof and the seal of the Commission.






Port Commissioners