7a memo
PORT OF SEATTLE MEMORANDUM COMMISSION AGENDA STAFF BRIEFING Item No. 7a Date of Meeting February 9th, 2010 DATE: January 11, 2010 TO: Tay Yoshitani, Chief Executive Officer FROM: Michael Burke, Senior Manager, Container Leasing and Operations Catherine Chu, Project Manager, Capital Development Division SUBJECT: Street Vacation Update SUMMARY The purpose of this briefing is to provide an update on the status of street vacation agreements with the City of Seattle. The street vacations were necessary property acquisitions related to the major container terminal expansion projects at Terminals 5, 18, 25 and 30, which started in the 1990's. The Seattle City Council granted preliminary approval of the street vacations contingent on completion of a number of conditions. Construction of the terminal projects and the associated public improvements has all been completed. A number of conditions related to utility easements and transfers, and real estate transactions with other property owners and tenants, however, have not been satisfied. The Port's project team is working diligently with the City of Seattle to resolve remaining issues and bring all existing street vacations to closure. In order to fulfill the remaining conditions and finalize the street vacations, a number of agreements and projects will require Commission authorization in the near future. Following action by the Commission, the Port will proceed to obtain final Seattle City Council approval of the street vacations. This briefing provides background information for the upcoming Commission action items.
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