Title
A motion may be considered to authorize the City's full and final settlement
of all pending and potential claims by KS Tacoma Holdings LLC against the
City of Tacoma, relating to the development of Foss Waterway Site 4, upon the following terms: sale of Tax Parcel No. 2013060013 and the southern half of Parcel No. 2013070011, consisting of the parking lots south of the Murano Hotel and south of the Bicentennial Pavilion, to KS Tacoma for the amount of $1,245,000 and KS Tacoma's (1) dismissal of KS Tacoma's appeal
of KS Tacoma Holdings LLC vs. Foss Waterway Development Authority,
Pierce County Superior Court Cause No. 13-2-11783-1; (2) KS Tacoma's covenant not to bring any lawsuits relating to the development of Foss Waterway Site 4; and (3) KS Tacoma's covenant not to bring any lawsuits relating to development at the Greater Tacoma Convention and Trade Center site, provided that such development does not include any City subsidy as defined by the parties.