Council MIN 09-10-2009 SpecialCITY OF
Federal Way
FEDERAL WAY CITY COUNCIL
SPECIAL MEETING
HYLEBOS ROOM City Hali
SEPTEMBER 10, 2009 6:00 PM
MINUTES
www. cityoffederalway. com
1. CALL MEETING TO ORDER
Mayor povey called the meeting to order at 6:05 p.m.
Councilmembers present: Mayor Jack Dovey, Deputy Mayor Eric Faison, Councitmembers
Jean Burbidge, Mike Park, Jim Ferrell, Dini Duclos and Linda Kochmar.
Staff present: Interim City Manager Brian Wilson, City Attomey Pat Richardson and City
Clerk Carol McNeilly.
MOTION: Mayor povey moved to re-order the agenda and adjourn into Executive
Session priorto discussing the Council Business item. Councilmember Park second.
VOTE: Motion carried 7-0.
2. EXECUTIVE SESSION
The Council adjourned to Executive Session a# 6:06 p.m. to discuss potential litigation
pursuant RCW 42.30.110(1)(i) for approximately 30 minutes. The Council adjoumed from
Executive session at 6:29 p.m.
3. COUNCIL BUSINESS
a. Extending the Real Property Purchase and Sale Agreement with United Properties
for the Symphony Project. Action expected.
Economic Development Director Patrick Doherty provided a brief presentation
summarizing the history on the purchase and sale agreement with United Properties.
Mr. Doherty introduced Victor Setton of United Properties who thanked the Council
for the opportunity to discuss the extension of the existing agreement, which expires
September 11, 2009.
United Properties recently began negotiations with Landor Korus, a Korean
investment company, to explore the possibility of investing in the Symphony Project.
Mr. Wayne Choe of Landor Korus provided background information on the company
and their past investment projects.
With the existing purchase and sales agreement expiring tomorrow, both United
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Properties and Landor Korus would ask the Council to extend the existing purchase
and sale agreement for six-weeks to allow them to explore financing options.
MOTION: Deputy Mayor Faison moved approval of the staff recommendation
with the following changes; change the agreement closing date from
10/30/2009 to 11/03/2009 and delete everything after the work "released."
Councilmember Duclos second.
The Council asked clarifying questions of Mr. Setton and Mr Cho.
VOTE: Motion carried 6-1, Councilmember Ferrell dissenting.
4. ADJOURNMENT
With no further business before the Council, Mayor povey adjoumed the meeting at
7:15 pm.
Attest:
G
Carol McNeilly, CMC City Cler
Approved by Council: October 6, 2009
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