06-024.00 Torgerson Properties: Old Milwaukee RR ROW University to Sullivan Project.~
CON`I'li~1GENT AG1tEEMLI~7T TO COiVS'1':121IC`[' 1'RiVATF PROJECT
CN •S:F'~AClfl//APE}1~a;~VAY CORTt]:C)OR
This Contingent Agreement to Construct a Private Project in the
Sprague/Appleway Corridor ("Agreement") is entered into by and bet<ve~n
TorQerson Properties ("O~~~ter./Developer'), a ~~Vashington corporation, having offices
for the transaction of business at 4202 E I.,anc .Park Road, 1\7ead, V~'ashin~tou
99021 ,and the City of Spokane Valley ("City"),apolitical subdivision of the State of
~T~~ashington; hereinaitei jointly referred to as "Parties".
1. The City is plann.i.ng to design and construct improvements to the Old
iiRilwaukee Rai_l.road righa-of--way in order to extend Appleway Boulevard east from its
cwTent terminus a.t •Utuversity Road to Sullivan Road. The City is seeking grant funding
.from the Commututy 1cononuc Devitalization Board's (CFRF3) Job Development Fund
(J171~). Additional state (TIB) and federal (STP(Cl)) grant funds are anticipated to help
complete the funding for this project. The name of this public facilities project is the
Valley Corridor Project -Phase 2 ("Project") and the purpose is to alleviate existing
traffic congestion along Sprague Avenue, accommodate future traffic gro~~th, and
provide access along the south side o(' the corridor to facilitate new development anal re-
development opportunities in accordance with the City's proposed Comprehensive Plan.
2. The purpose of this Agreement is to meet the requirements of the grant
application.
3. Tn the event CP:R13 fiuiding is not provided, the Parties shall not be bAUnd
by the requirements contained in this Agreement.
4. The City commits to constructing the Project if C)/RB financing is
approved.
5. if the City constructs the Project, Owner/Developer estimates that 170
permanent, full-time jobs will be created and/or retained as a result of the Project.
6. 1.f' the City constructs the Project; Oti;mer/Developer estimates that it will
provide $ 12,000,000 in private capital investment.
7. Ov~7ier~Developer agrees to contact the local «~orkforce Development
Council (tiVDC) and the Slate Fmployn~ent Security Department for assistance in filling
new positions.
8. Owner/llevcloper agrees to provide the City «~ith employment and
investment data as requested by the JDF Program including, but not limited to,
presentation to the Legislature during the legislative process.
9. The follo«~i.t~g is a list of any public and/or private contributions to the
public facilities project to date:
Cob-24
f -~~ ~~ .
u_ Donation of Dld .iiwaukec right-of-way by pokanc bounty;
I 1~1Ti~~~S I-IEE~F, e Parties have executed this Agrce~nent this ~~`
day of March , Q{}.
01~4'71tERIDE ElfO~'ER:
Name of omgany
~ ~ ~ lts: _ Dner
~•
lame: Llo}~d H. '1"orgersan
7'TiJ Ol~ W~i.~TT~1 }
} ss.
bounty of Spokane ~
Ors this day of Iv~.~rch 2.OU~ before me, the undersigned, a rotary Public
in and .~Or the Mate of 1~ashiugton, duly commissioned and s~~om, personally appeared
Lloyd H. Tor e~ rson _ to me known to be the {]weer
~~ of Tor~erson l~ro~ertie~ ,the corporation that ex~;uted the foregoir
instrumerft, and acknowledged the in~rurnent to be the free and voluntary act and deed of
the corporation, for the uses and purposes therein mentioned, and on oath s~died that he is
authorized to exute the inst~unent.
V~1'1'l m hand and official seal h ~ affixed the day artd year in this
certificate above written.
[k^~~~ ~ Public
State of l~fash`rn ton
~~~i ~
O~ec. 1~„ 207
iTY OF SPOKANE L~~~.':
t t~
David Mercier, anager
A
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~
.Ci., 1 7 7~i
1
r7s $21n~]rl~ge~ It l~r
NOTARY PCJ T , i arrd #'or t State of
Washington, residing at STrokane --
iviy cornrnission expires; 12JS ~IC}7
arolvn J. ~eor~e
Name
APPROVE} A TO FORM=
()~F1C~ O~tlie lty klorrtie
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