02-15-2022 Request for ProposalRequest for Proposals
City -owned TC-3 properties
15 February 2022
Brian Davis, Community Development Director CITY OF
Federal Way
Centered on Opportunity
Should the City move forward with a Request for
Proposals for the City -owned TC-3 properties?
The funds required to execute the RFP have already
been budgeted by the City Council. The TC-3 properties
currently have an outstanding debt of approximately
$5M.
The City purchased
the TC-3 properties
in Zo14 for the
purpose of
catalyzing
redevelopment of
the City's Downtown
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s s16th street
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The TC-3 properties consist of 2 parcels east of
the PAEC. It is recommended the parking lot
north of the PAEC be included in the study.
Total area to be studied is 8.7 acres.
1. Proceed by issuing the Request for Proposals
2. No not issue the RFP and provide direction to staff
The Mayor recommends the city move forward with
issuing the RFP forTC-3 to prepare a Master Plan for the
property in order to facilitate the near -term
redevelopment of the property.
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Questions