The City previously purchased four separate properties that had been owned by the Tiger Oil Company and were the subject of environmental cleanup orders to address the contamination issues. The City's plan has always been to resell the property for productive development. One of the properties acquired, located at 1808 North 1st Street, remains subject to environmental investigation by the Department of Ecology and not yet amenable to a No Further Action finding; however, this property has been determined by Ecology to be viable for development subject to certain restrictions.
The City posted and published notice on December 22 and 23, 2018, in the Yakima Herald Republic and on the City’s webpage, that RFP No. 11901P was available for competitive proposals from parties interested in the lease and ultimate purchase of the City property located at 1808 North 1st Street.
Responsive proposals were due to the City on February 8, 2019 at 11:00 a.m. and opened in City Hall Council Chambers. An analysis Committee was formed and met on February 8, 2019 to review, analyze and score the two proposals using the criteria specified in the RFP. Applying scores to the several criteria that were established in the RFP, the Analysis Committee’s final combined scores are as follows:
Vaibhav Laxmi LLC and Assignee 143
Y HOTEL LLC 265
Y HOTEL LLC received the highest overall score from the Analysis Committee and qualified as the successful proponent selected to finalize a Lease/Purchase Option Agreement for the lease and ultimate purchase of the property located at 1808 No 1st Street.
Please authorize the City Manager to award and execute the Lease/Purchase Option Agreement, with Y HOTEL LLC., providing for a lease in the amount of $1,000.00 per month and an ultimate sale, at such time as the property is subject to a No Further Action letter from the Department of Ecology, in the amount of Three Hundred Thousand Dollars ($300,000.00), all in accordance with the specific terms of the Agreement. |