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Council approves nonbinding term sheet for $15 million parking structure amid financing disputes
Summary
The Blaine City Council voted to approve a nonbinding term sheet to consider a roughly $15 million, ~620-space parking structure for the Hundred and 5th redevelopment, despite objections from Council Member Newland who urged limiting the city’s commitment to $7 million funded from alternative revenues.
The Blaine City Council voted March 2 to approve a nonbinding term sheet that would guide consideration of a roughly $15 million parking structure to serve the West portion of the Hundred and 5th redevelopment district.
Manager Thorvig told the council the proposed facility has a budget of about $15,000,000 and is expected to provide roughly 620 stalls. The term sheet is nonbinding, he said, and is intended to let the development team and city staff…
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