CB 121236 — Version 1 https://webapi.legistar.com/v1/seattle/Matters/17227/Texts/18589 Screen Reader Users: Make sure settings include reading strikethrough and underline font attributes. The City of Seattle Ordinance Council Bill ..title An ordinance relating to the Office of Housing; granting a ground lease of real property located at 2929 27th Ave South; authorizing the Director of the Office of Housing to grant a lease of the real property to MBTOD Phase One LLLP, an affiliate of Mercy Housing Northwest and El Centro de la Raza; and authorizing related agreements and actions to support the development of affordable housing and commercial space intended to be used for early learning, childcare center, and associated uses. ..body Recitals: The University of Washington transferred jurisdiction over surplus real property located at 2929 27th Ave South to the Office of Housing with the adoption of Ordinance 126101. Ordinance 126101 adopted the Office of Housing's Housing Funding Policies that include a commitment to utilizing well-located publicly owned properties for affordable housing and achieving cost savings for affordable housing development through favorable purchase terms. Pursuant to Resolution 31609, the City Council resolved to pursue use of publicly owned properties for development of affordable housing, including authorizing the transfer of specific City-owned properties for the development of housing. Mercy Housing Northwest and El Centro de la Raza were the successful respondents to a request for proposals (RFP) for affordable housing and ground floor uses by the University of Washington with the Rainier Valley Early Learning Center. MBTOD Phase One LLLP's mission is to produce affordable housing for low-income families and individuals and by preserving, developing, and operating safe, quality affordable housing. The Office of Housing and Mercy Housing Northwest and El Centro de la Raza have negotiated in good faith the terms for a long-term lease of the surplus property at 2929 27th Ave South Seattle, WA 98144 for construction and operation by MBTOD Phase One LLLP of income-restricted affordable housing for families and individuals and community uses such as an early learning center and retail space. The site will be subdivided through a leasehold condominium regime (Condominium) consisting of two separate condominium units: (1) the Residential Unit and (2) the Commercial Unit. The elements of the Project are envisioned as compatible uses that will be operated in one building with separate entrances. A condominium declaration will be recorded after the conclusion of construction and MBTOD Phase One LLLP will convey the Commercial Unit to the University of Washington or an affiliate thereof according to the terms of a Lease and Option to Purchase Agreement. Therefore, Be it ordained by The City of Seattle as follows: Section 1. The Director of Housing or designee (Director) is authorized on behalf of The City of Seattle (City) to execute such documents as deemed necessary for The City of Seattle to enter into a ground lease for a period of no more than 99 years lease that certain real property situated in the City of Seattle, County of King, State of Washington and identified as King County parcel number 713880-0025 and 713830-0015 as further described in the legal description attached to this ordinance as Attachment 1, between the City, as a lessor, and MBTOD Phase One LLLP, an affiliate of Mercy Housing Northwest and El Centro de la Raza, as a lessee, to provide for the long-term use and occupancy of the property for the purposes of providing affordable housing for households with low incomes according to terms substantially consistent with the Term Sheet attached to this ordinance as Attachment 2. Attachments: Attachment 1 - Property Full Legal Description Attachment 2 - Ground Lease Term Sheet This ordinance shall take effect as provided by Seattle Municipal Code Sections 1.04.020 and 1.04.070. Passed by the City Council and signed in open session in authentication of its passage on . President of the City Council on . Katie B. Wilson, Mayor Attested on . Scheereen Dedman, City Clerk Seal OH Ground Lease of Mt Baker UW Laundry Site ORD Jessica Gomez D1b 2 Template last revised April 2, 2026 DEPT Short Name of Legislation ORD Author's Name V1 2