Richland council authorizes option agreement with Washington Energy for nuclear supply‑chain campus

Richland — The Richland City Council on Jan. 7 voted unanimously to authorize an option agreement that reserves up to 425 acres in the Northwest Advanced Clean Energy Park for Washington Energy LLC to explore development of a nuclear supply‑chain campus.

The option agreement, described to council by Deputy City Manager Joe Schissel, “is a contract granting a buyer the exclusive right, but not the obligation to purchase property at a specified price within a set time period.” Schissel said the option would provide Washington Energy time for feasibility work while both parties negotiate a future purchase and sale agreement.

The agreement covers up to 425 acres of the city’s clean energy park, includes five annual extension rights with associated fees, and calls for staged property closings carried out under later purchase and sale agreements signed by the city manager. Schissel told council the buyer would be responsible for roads and utilities needed for the project and that the option has a series of payments that “total a million dollars over that 5 year time.” He said the purchase math would equate to an average of about $63,000 per acre if all 425 acres were purchased.

Why it…