Blaine City Council unanimously voted 6-0 to allow Bosporus Properties Inc. to extend its feasibility period for the 665 Peace Portal Drive property until November 30. The extension will give the company time to work with the city on funding, construction and paving the alleyway, according to city documents.
Blaine city manager Michael Jones wrote in a memo to council the city believes the extension is needed because of factors that make developing on the west side of Peace Portal Drive difficult, including soil conditions, height limits and shoreline and zoning regulations.
“The potential buyer is interested in additional time to coordinate with the city on potential alternatives to building the alley that is required behind the property for full vehicular access,” Jones said during the September 27 council meeting. “It’s a reasonable request from my perspective. It’s a costly item. I think we will need it but there are ways we can coordinate with [Bosporus Properties] to lessen the burden of that a bit.”
Jones signed the purchase and sale agreement with Blaine-based Bosporus Properties on June 14 and in late August, city council voted to extend the feasibility period to September 20. During the August 23 meeting, council discussed possibly creating a non-refundable deposit when the feasibility period is extended but council did not take action on this during the most recent meeting.
“A 90-day feasibility period for a complex developer project is not long at all, so asking for another 60 days on top of the 90 seems reasonable on my part,” Jones said.
The 665 Peace Portal Drive is currently an undeveloped property between Tony’s Just A Bite and Blaine Bouquets in downtown Blaine.
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