PORT OF SEATTLE 
MEMORANDUM 

COMMISSION AGENDA             Item No.      6d 
Date of Meeting        June 8, 2010 
DATE:    June 2, 2010 
TO:      Tay Yoshitani, Chief Executive Officer 
FROM:    Joe McWilliams, Managing Director, Real Estate Division 
SUBJECT:  First Reading of Resolution No. 3638 declaring certain real property located in
the City of Redmond (a portion of the Redmond Spur segment of the Woodinville
Subdivision) surplus and no longer needed for Port purposes, and authorizing the
Chief Executive Officer to execute all documents necessary for its transfer to the
City of Redmond. 
AMOUNT OF THIS REQUEST:            SOURCE OF FUNDS: 
$10,000.00                               Tax Levy 
ACTION REQUESTED: 
First reading of Resolution No. 3638 declaring certain real property located in the City of
Redmond (a portion of the Redmond Spur segment of the Woodinville Subdivision) surplus and
no longer needed for Port purposes, and authorizing the Chief Executive Officer to execute all
documents necessary for its transfer to the City of Redmond. 
SYNOPSIS: 
Commission authorization is requested to proceed with the sale of a portion of the Woodinville
Subdivision to the City of Redmond. This request is consistent with regional transaction
between the Port, Redmond, King County, Sound Transit, Cascade Water Alliance and Puget
Sound Energy ("Regional Partners") to share in the costs of the acquisition of the Woodinville
Subdivision rail corridor ("Eastside Corridor"). 
BACKGROUND: 
The Port acquired the Eastside Corridor on December 18, 2009, from BNSF Railway. Prior to
finalizing the acquisition, the Port and the Regional Partners agreed that they all had an interest
in obtaining rights to use the Eastside Corridor and share in the cost of acquiring it for public
ownership. This agreement was memorialized in a Memorandum of Understanding dated
November 11, 2009. On February 23, 2010, the Commission authorized a Memorandum of
Understanding between the Regional Partners regarding the appraisal of the Eastside Corridor.
While the other Regional Partners are negotiating other aspects of the transaction that do not

COMMISSION AGENDA 
T. Yoshitani, Chief Executive Officer 
June 1, 2010 
Page 2 of 2 

involve Redmond, the Port and Redmond staff have reached agreement for the sale of the City of
Redmond portion of the Eastside Corridor. As part of the transaction, Redmond has agreed to
grant Sound Transit a transportation easement over the property at the time the Port and the other
Regional Partners complete the transaction for the remaining segments of the railbanked Eastside
Corridor. 
RESOLUTION NO. 3638: 
Resolution No. 3638 provides that the real property consisting of the City of Redmond portion of
the Eastside Corridor is no longer needed for Port purposes, declares it surplus to Port needs and
authorizes its sale to Redmond. The Resolution further delegates to the Port's Chief Executive
Officer the authority to execute all documents necessary to complete the sale of the property. 
SCOPE OF PURCHASE AND SALE AGREEMENT: 
Anticipated 
Closing Date:      June 30, 2010 
Purchase Price:    $10,000,000 
Closing Costs (estimate):   $5-10,000.00 
PREVIOUS COMMISSION ACTION: 
November 5, 2009, Port Commission authorized execution of a Memorandum of
Understanding between the Port and the Regional Partners Regarding Acquisition of the
Woodinville Subdivision. 
February 23, 2010, Port Commission authorized a Memorandum of Understanding between
the Regional Partners Regarding Joint Appraisal of the Woodinville Subdivision. 
ATTACHMENTS: 
Resolution No. 3638