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Poulsbo council approves $850,000 purchase and sale agreement for identified parcels
Summary
After executive-session discussion under RCW 42.30.110(1)(c) regarding real estate, the council authorized a purchase and sale agreement with Ojava Flex LLC for specified parcel numbers at $850,000 and authorized remitting $25,000 earnest money into escrow to complete due diligence.
The Poulsbo City Council voted on April 9 to approve a purchase and sale agreement with Ojava Flex LLC for several city parcels, authorizing the mayor to sign the agreement and $25,000 in earnest money to be deposited in escrow for due diligence.
Councilmember Libdahl presented the motion stating: "I move to approve the purchase and sale agreement with Ojava Flex LLC for parcel numbers 102601Tac2Tac055, Tac2003, and parcel number 102601Tac2Tac056, Tac2002 in the amount of $850,000, authorizing the mayor to sign the agreement on behalf of the city and authorize remitting $25,000 in earnest money to be deposited in escrow to complete due diligence on the property." The motion was seconded and carried by roll call.
On the record, councilmembers Eckert, Taber, Crow, Libdahl, Newell, Sturd and McVeigh recorded 'aye.' The motion authorized the mayor to sign and to deposit the $25,000 earnest payment in escrow to complete due diligence on the parcels.
The council had earlier announced an executive session under RCW 42.30.110(1)(c) to discuss real estate transactions; the council recessed into executive session and reconvened for the public vote. No additional public details of the negotiation terms were disclosed during the public session beyond the purchase price and earnest-money authorization.
Ending: The city will proceed with the deposit of earnest money and complete due diligence before closing, per the signed agreement and standard escrow procedures.
