In a recent council meeting, the Kent City Council discussed the proposed purchase of the Centerpoint building located at 20610 68th Avenue South, a decision that has been in the works for several years. The council is considering a purchase price of $11.25 million, significantly lower than the original listing price of $14.2 million, following thorough inspections that highlighted necessary repairs and replacements.

Tammy White, a city representative, outlined the terms of the purchase and sale agreement, noting that the city would be acquiring the property \"as is.\" This means that while the city has conducted comprehensive inspections, there may still be unforeseen issues once the building is occupied. The agreement includes a $150,000 earnest money deposit, which has already been sent to the escrow agent, and this amount will be credited towards the purchase price if the deal goes through.

Additionally, the agreement stipulates that BECU, the current owner, will reimburse the city up to $100,000 for any surplus equipment or furniture that the city may choose to dispose of after the purchase. If approved, the closing of the sale is expected to occur within 30 days, on November 7.

The council's motion to approve the purchase includes a provision for acquiring the property under the threat of condemnation, a strategy discussed with BECU to ensure the city secures the property effectively. This approach also has implications for real estate excise taxes, which were noted during the meeting.

Council members expressed their support for the purchase, reflecting on the importance of making strategic decisions for the city's future. The council's deliberations highlight the ongoing efforts to address the city's infrastructure needs and the potential benefits of acquiring a property that meets the city's requirements for space and parking.