On Monday, the Mountlake Terrace City Council signed off on two agreements that have been in the works for a while — a new five-year lease extension on office space utilized as Interim City Hall and a $300,000 county grant to purchase land adjacent to Terrace Creek Park.
Lease Agreement for office space at Redstone II Building
The new lease agreement between the City of Mountlake Terrace and the owners of the Redstone II Building calls for the city to pay $1.56 million in base rent over five years, in addition to utility and tax costs, for the 16,821 square feet of office space it has occupied since July 2009. (For more details on the lease agreement, click here).
The city’s adopted six-year financial forecast has the new lease payments built in through 2019. Rent payments are being funded over the new lease term by savings in expenditures and increasing revenues. City budget reductions include eliminating funding for the city’s annual tree lighting event, reducing the city newsletter from six to four issues per year, reducing City Council travel and training, reducing printing and postage for citywide mailings by using more online communications, lower insurance costs and leaving vacant city positions open.
With the new lease agreement, Mountlake Terrace Interim City Hall will likely stay in its current home on the second floor of the Redstone II Building, 6100-219th Street SW, until July 2019.
Snohomish County Conservation Futures funding
The City of Mountlake Terrace was awarded $300,000 to help in the purchase of 2.9 acres of property that is currently privately owned in the 4900-5000 block of 228th Street SW. The agreement approved by the city council calls for the city to purchase the land sometime before June 2015 for the purpose of preserving as open space. The current property owner has had a long interest is seeing the land preserved for public use.
The property is adjacent to Terrace Creek Park, steeply sloped, and is heavily wooded. It will serve as green space between the popular walking trail through the park and existing residential property on 228th Street Southwest.