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Council approves funding appropriation for eminent domain purchase of adjacent commercial building
Summary
City council authorized source funding and scheduled final ordinance for financing to complete an eminent domain acquisition of a commercial building adjacent to City Hall, approving a $9.08 million cost estimate and related appropriations.
The Mercer Island City Council on July 15 voted to appropriate the budgeted funding needed to complete acquisition of a commercial property identified for municipal use and scheduled a second reading of a financing ordinance for autumn.
Finance Director Matt Morgan told the council staff had authority from a June 17 action to acquire the commercial building at 9655 Southeast 30th Street by eminent domain and that the estimated purchase and closing costs total $9,080,000. “Once we include the cost to finalize the purchase, including title insurance, transferring the title and escrow fee, the total cost…
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