Saint Edward Seminary near the Kenmore and Kirkland boundary stands like a regal beacon at the center of Saint Edward State Park. One of the most monolithic structures in the Northshore area, it is clad in brick with timeless architecture.

It is also a casualty of the Washington State Parks funding gap.

In recent years, Parks officials have attempted to raise more money to meet their budget through various means, such as implementing the Discover Pass. State funding has nearly dried up and officials continue to try finding new and creative revenue sources.

For many of the Parks’ 770 buildings, funding has come from unlikely sources. Leasing the buildings to colleges and businesses has been a popular way to save the structures from deterioration. But the seminary is still out in the cold with an immense 90,000-square-feet of space and a growing list of repairs and maintenance.

“We are trying to find a way to take care of it,” said Washington State Parks and Recreation Commission Public Affairs Director Virginia Painter. “We are always interested in what we can do to take care of the building, and the space available could be appropriate for office space.”

She added that a lease “seems like a natural thing.”

Parks officials have had discussions with many businesses and organizations in recent years about leasing the building.

“We haven’t received a written inquiry but verbal interest,” said Painter. “They usually want to know how much space is available. We have been at it a long time.”

None have come as close as a client of real estate broker Kidder Mathews during the early part of November. The client has chosen to stay anonymous and all parties are complying with the request.

The discussions went so far as Kidder Mathews representatives drafting a letter of understanding outlining preliminary lease details. And while some have speculated that the client is the U.S. Department of Defense, Painter said that is not true.

“It is not directly the Department of Defense,” said Painter.

Other sources have said that it is a company that works for the Department of Defense.

In the letter of understanding, the Kidder Mathews client would help maintain the building and perform restoration work. The document states that the “landlord shall be responsible for all structural maintenance, including the foundation, roof, exterior utility lines, floor slab and exterior walls.”

The monthly lease rate was not addressed in the document.

“It is our clients hope that we can put something together quickly to prevent further deterioration of the seminary building thereby avoiding the burden of potential demolition and related costs to Washington State Parks,” the document states. “Per our discussion, we spoke to the city of Kenmore and Bastyr University. All parties are committed to work with Washington State Parks and each other to create a public-private partnership that will restore, preserve and improve the Saint Edwards State Park Seminary building for current and future generations.”

A lease agreement could be for as long as 99 years, with the client leasing 75,000-square-feet of the building and paying for an “office build out,” according to the document.

“The building has a lot of maintenance issues but the best way to take care of the building is for it to be used,” said Painter.

But Parks officials have not acted on the document, which expired on Nov. 22. That is not to say that discussions have ceased between Parks and the Kidder Mathews client.

Built in 1930, the seminary needs an estimated $40 million in restoration. The Washington State Parks invested $2.4 million in storm drainage, water proofing, grading, paving and replanting in 2008 and 2009. Most of the building has been closed to the public during the past four decades.

In 1976, Archbishop Raymond Hunthausen announced the closure of the seminary. One year later the building and 316 acres were sold to the Washington State Parks for $7 million.

The building’s most recent high profile use was in March 2012 for an independent movie by Mirror Images of Seattle, starring Edward Furlong. It has also been listed in the National Register of Historic Places.

Spokesperson Martha Lynn said that Bastyr University does not have any interest in the building.

“We are aware of a potential project but we are not involved in any way,” said Lynn. “It would take a lot for us to expand.”

Bastyr University would be impacted by the increased traffic on the two-lane road through the park if the building was leased.

“I am sure that would come up but it would be a part of the bigger discussion,” said Lynn.

Kenmore City Manager Rob Karlinsey said that McMenamins had some interest in the building during the latter part of the last decade. McMenamins is currently preparing to renovate the Anderson School Building for its new location in downtown Bothell.

“It was kind of a theoretical idea,” said Painter. “We put out a query to see what kind of interest there was and McMenemins replied ‘we can see it being this.’ Ultimately, the idea was not pursued.”

Parks has many buildings and structures that are being leased as a way to maintain facilities.

“We have some cell towers and Fort Worden is a good example of where we have leased space,” said Painter.

Fort Warden is located in Port Townsend and leases to a college and some other businesses.

“We don’t have many buildings like the seminary in many places and most are not suitable for businesses to lease,” said Painter. “It is just a hand full of places.”