The proposed deal involving land exchange and lease agreements would enable WSDOT to proceed with the process of the future extension of SR 509 to connect with I-5. The proposed deal will reduce the cost of construction related to the Rental Care Facility, reduce the cost of completing improvements to the Northern Airport Expressway, allow the Port to install and maintain approach lights for the Third Runway, and reduce the cost of future projects such as the reconstruction of Runway 16L/34R.
The land exchange would include nine properties currently owned by the Port transferred to WSDOT and three properties currently owned by WSDOT transferred to the Port with airspace leases for four additional properties from WSDOT to the Port.
In October 2007, the Commission authorized the execution of a memorandum of understanding with WSDOT to negotiate the transfer of properties needed by WSDOT for the SR 509 extension in exchange for the properties and airspace leases needed by the Port for current and future aviation projects. The proposed Property Exchange Agreement and Airspace leases will facilitate the accomplishment of the memorandum of understanding 's intent.
The nine Port-owned properties that are proposed to be declared surplused and transferred to WSDOT are located in SeaTac: a 0.64 acre detention pond site lying at the intersection of South 170th Street and 8th Avenue South; a 0.02 acre remnant off South 188th Street; a 0.24 acre parcel at 1205 South 196th Street; four noncontiguous parcels (0.68, 18.76, 3.24, and 1.13 acres respectively) in the area bounded by South 196th Street, 14th Avenue South and South 200th Street in vicinity of Tyee Golf Course, two noncontiguous parcels (0.08 and 0.45 acres respectively) in the area bounded by 24th Avenue South, South 202nd Street and South 204th Street.[[In-content Ad]]