On Tuesday, January 22, the Sumner City Council unanimously approved an agreement with Colliers International to market the Sumner Meadows Golf Course for sale. In October 2012, the Council directed Mayor Dave Enslow to seek marketing the golf course for sale, following an extensive public discussion about the future of the golf course and the financial drain it poses to the City of Sumner. The City explored how best to market the course for sale. With multiple real estate firms and several direct investors and developers expressing interest, the City needed a professional and transparent process of selecting a buyer. Colliers International, a global real-estate firm with world headquarters in Seattle rose to the top of the list as the most qualified team and company to list the property.
This past summer, new City Administrator John Galle presented to the City Council the challenges that the golf course caused in the City budget. The course was purchased in the early 1990s as a place to dispose of effluent with the intention that it would pay for itself within five years and then fund all parks in Sumner. Only once in the past twenty years did the course break even, and the City still owes approximately $6 million in debt. In the 2013-2014 biennium alone, the city faces payments totaling approximately $1.5 million in debt service plus an additional $680,000 in interfund loans. The issue of repaying the interfund loans has been brought up by the State audits of both 2011 and 2012.
With all this information, the City surveyed Sumner residents in September, and the results showed that 80% of residents asked the City to sell the course rather than increase taxes to further cover the debt owed. Link to results. On October 15, 2012, the City Council passed Resolution No. 1360, directing the Mayor to market the course for sale.
Since the October decision, Mayor Enslow and City staff researched options available and the best way to market the course. City employees and Mayor Enslow released a call for proposals from brokers, meeting with five interested parties before second interviews with the top two companies. "Since this is such an important asset of the citizens of Sumner, we need a process that is open, transparent and able to bring to the Council the widest range of proposals possible," said Mayor Enslow. "That way, the Council can make the choice this spring that they think best serves the people of Sumner." The City brought to the Council a recommendation to engage Colliers for this project. Matt McGregor and Bill Condon were present on January 22 to answer questions from the City Council and provide an overview on the status of the market.
Colliers will now move forward to advertise the golf course in early February with offers expected to be due in early to mid-March. The City will be able to interview potential buyers, anticipating a buyer selection in mid-April. Any acceptance of any offer will be done by the City Council. "This is one of the best sites remaining on the West Coast and potential buyers are extremely excited about the project" said Matt McGregor and Bill Condon of Colliers. Tenant activity as well as speculative construction have been booming in the Sumner area as the greater Puget Sound industrial marketplace is among the healthiest in the nation. The land that will be offered for sale is approximately 132 usableacres. The land is currently zoned for industrial use. Given the strong fundamentals of the Sumner industrial market along with the increasing demand for institutional capital to be placed in the Puget Sound region Condon, McGregor, and Vander Veen noted they expect to have numerous parties interested in the site. "We are extremely excited to represent the City of Sumner and look forward to securing the best possible outcome for the City through an open and transparent partnership," added Condon, McGregor and Vander Veen.