06-026.00 Pring Corporation: Old Milwaukee ROW University to Sullivan Project
CONT'T1~TG:I~;iVT AGREEMEI\jT Tn C4VSTi2UCT PRIVATE PR4.:I-C~'•C`C'
T~~T S:l'RAGtFE•/APPLE'R'Al.' CO:1~[DUR
This Contingent Agreement to Construct a Private Project in the
Spragiae/Appleway Corridor ("Agreemen.t") is entered into by and beta=ccn
Prim Corporation ("0«mer/Developer"), a GVashington corporation, having offices for
the transaction of business at 1404 F Snrin~field Ave., Spokane Valley, ~Vashin~ton
~y037-0457 ,and the City of Spokane Valley ("City"),apolitical subdivision of the State
of 1~Vashington, hereinafter jointly referred to as "Parties".
1. The City is planning to design and construct improvements to the Qld
Milwaukee Railroad right-off wa}= u1 order to extend Apple~vay Boulevard east from its
current terani.nus at University Road to Sullivan Road. The City is seeking Brant funding
from the Community Econon~.ic Revitalization Board's (CFRF~) Job L7evelopment Fund
(JDF). Additional state (TT13) acid federal (STP(i])) grant fiands arc anticipated to help
complete the Funding for this project. The name of dais public facilities project is the
Valley Corridor Project -Phase 2 ("Project") and the purpose is to alleviate existing
traf'f;ac congestion along Sprague Avenue, accommodate future traffic groti=th, and
prov=ide access along the south side of the comdor to facilitate ne~v development and re-
development opportunities in accordance v<ith the City's proposed Compreheiasive Plan.
2. The purpose of this Agreement is to meet the requirements of the grant
application. •
3. In the event CF,RF3 funding is not provided, the Parties shall not be bound •
by the requirements contained in this Agreement.
4. The City conuauts to eonstrueti.ng the Project if CERB financing is
approved.
5. if the City constructs the :l'rojcct; Owner/Developer estimates that 110
permanent, full-time jobs will he created and/or retained as a result of the Project.
6. If the Cit}= constructs the Project, Ovvner/Developer estimates that it v<=i11
provide $ $.000,000 in private capital investment.
7. Owner/Developer agrees to contact the local Workforce Development
Council (GVllC) and the State Employment Security Department for assist~uice in filling
new positions.
8. Owner/Developer agrees to provide the City with employment and
investment data as requested by the JDF Program including, but not lianited to,
presentation to the Legislature during the legislative process.
9. The following is a list of any public andlor private contributions to the
public facilities project to date:
C06-26
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a. Donation of Old Milwaukee right-of--way by Spokane. County;
II\j ~~IITNFSS ~~'HFR.EOF, the Parties have executed this Agreement this ~~~'
day of March , 2006.
OW-N~R/DEVFI~OPFR:
Marne of Company
By• D^~ ..~ Its: Secretac•~~
Name: John T. Peterson
STATE OF WASHII~pGTON )
ss.
County of Spokane
On This ',~~'da}~ or March 2006 before. me, the undersigned; a Notary Public
in and f.'or the State of Washington, duly commissioned and sworn, personally appeared
Jolui T. Peterson to me knotitin to be the Secretary
of Yring Corporation , the corporation that executed the foregoing
instrument, and acknowledged the instrument to be the free and voluntary act and deed of
the corporation; for the uses and purposes therein mentioned, and on oath stated that he is
authorized to execute the instrument.
~VITNL'SS my hand and official seal hereto affixed the day and year in this
certificate above written. ~~y , r
Q ORIS~lc NOT PUBLI , in and for the State of
. U ~ ~o~: f s- _ ~Vash.ington, residing at sjb/cw-+G ,~ +-,.+.a~
Pue~~~
~>,~~~4Y1,~ .
`~D~~~ W~
C:ITV OF SPOKANE VA'C,,>G:FY:
~- t
David Mercier, y Maa~ager
,:1,:
c ~.
-leis Bauibridge, City erg
My commission expires: S -~ ~ y ~
n~ R) ~ J4~'1-+--
Name
APPROVE]) AS TO FORM:
Office of the City Attorney
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