Real estate proposals draw fire from judge
July 4, 2008 · Updated 11:41 AM
Reaction to the latest proposal concerning the sale of the city-owned US Bank building at the corner of Sixth Street and Pacific Avenue was heated at the Bremerton City Councils study session Wednesday night.
The most recent proposal presented by city.
Gary Sexton would authorize the sale of the US Bank building to West Sound Bank for $1,150,000 and would give the city the first right of refusal and option to purchase West Sound Banks current building at the corner of Second Street and Pacific Avenue for $1 million.
West Sound Bank wants to proceed with the purchase and sale and they want to stay downtown and we want them to stay downtown, Sexton said.
Sexton suggested prompt action on this matter by the Council would be in the citys best interest.
I think the option of waiting would be extremely poor on the citys behalf and would be poor teamwork, Sexton said.
Since the building wont be used for the courts or police department, Sexton said his recommendation is that the Council proceed with the sale.
West Sound Bank President Dave Johnson said the bank is willing to purchase the building even with its current restriction that prevents the building from being used as a financial institution for about four more years.
West Sound Bank has a strong desire to stay in downtown Bremerton, Johnson said.
If the deed restriction remains in place, Johnson said improvements would still be made to building and the bank would remain at its current location until the restriction is lifted.
We want the building to be a show piece for the city, he said. With the restriction in place, we would enhance the exterior with landscaping.
However, Johnson said if the bank cannot find a location in downtown in the near future, it would then be forced to look outside of the city for its new location.
Bremerton Municipal Court