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April 21, 2005 |
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Google asks for time extension of The Chronicle Design LLC, the corporation negotiating land purchases for Google in The Dalles, has extended its inspection period on land at the Port of The Dalles Industrial Park until May 16. The inspection period was scheduled to expire April 25, but The Dalles port commission approved the extension Wednesday evening at their planning session. The extension will allow the purchasers “to go over more items,” noted Andrea Klaas, marketing director, who will replace departing executive director Scott Hege. She said the negotiators “did not indicate any problem.” The extension pertains to the first of four agreements signed Feb. 15 with the Port of The Dalles. Its subject is 30.19 acres of land specified in the initial purchase and sale agreement. Google has put down $187,235 in earnest money and partial payment on the $1.87 million purchase price, which is due at closing. But a variety of conditions apply to the sale, including: • approval of enterprise zone tax incentives, • installation of a fiberoptic ring to serve the property, and • the availability of a power tap from Bonneville Power Administration by a date acceptable to the buyer. Three land options, which are considered attachments to the main purchase and sale agreement until closing, divide the North Chenoweth site into three areas known as Riverside, Buffer and Backside. Google has agreed to make an initial payment of $30,849 to keep the property available to them under terms of the six-year options, with additional annual payments required to maintain each. The agreements also establish initial future purchase prices for the three properties. For the Riverside property, 41.81 acres of which 39.7 are considered developable, $1.67 million. For the Buffer property, 15.50 acres, none of which is considered developable, $310,000. And for the Backside property, 24.5 acres of which 22.1 are developable, $1.1 million. Job creation and development investment standards are set forth in specific terms within the options agreements, although no job development or investment requirements are specified within the contract of sale. Future phases of the project — if they take place on the optioned property — could mean from as few as 66 additional jobs, to more than 185, as specified in the option agreements. The Riverside property requires a development investment of at least $39.7 million ($1 million per developable acre) and creation of 119 jobs (three per acre) at average annual wages of $60,000 (twice the county average). The Backside property requires an investment of $22.05 million and creation of 66 jobs of the same caliber. A Google representative said the job expectation from the first phase, if it takes place, would be between 50 and 100 jobs. In addition to the sale and options, the port and Google signed a Right of First Refusal to Purchase agreement relating to all real property owned by the port as of the date of the agreement, except specific excluded properties. The agreement gives Google the right to buy land if an offer is made on a specific parcel covered by the agreement. The company then has 30 days to decide whether to purchase the property or not. Back to Top Local News Home |
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