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Council authorizes purchase agreement for 1333 Lloyd Parkway; council also declares intent to reimburse from future borrowing
Summary
The council authorized a contingent purchase and sale agreement for a Public Works facility at 1333 Lloyd Parkway and adopted a reimbursement resolution declaring intent to finance the acquisition with future bond proceeds; staff said the purchase price is roughly $2.5 million and that a budget amendment and financing documents will return to the
Port Orchard — The City Council authorized the mayor to execute a purchase and sale agreement and associated documents for 1333 Lloyd Parkway, a commercial property proposed to serve the city’s Public Works operations. Council also adopted a reimbursement resolution that declares the city’s intent to pay acquisition costs from available funds and later reimburse itself from future borrowing.
City staff said the property includes an office building and workshop that would meet current and near‑term operational needs at lower…
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