2014/05/21 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET PROJECT TITLE: An Ordinance relating to the Briefing COUNCIL BILL# ( J25 -cvlo Business Improvement Area 5-21-14 Proposed Action Originating Department Administration (BIA), extending the term of Consent Contact Person Lathe McMullin the existing BIA and special Action Phone Number 425-257-7100 assessment levy for three 5-21-14 First Reading FOR AGENDA OF 5/21/14 additional years, and amending 5-21-14 Second Reading Ordinance No. 2842-05, as Third Reading amended Public Hearing Budget Advisory Initialed by: Department Head CAA Council President Location Preceding Action Attachments Department(s)Approval Amount Budgeted $0 Expenditure Required $589,752 ($196,584 per year) Account Number(s): 665 2399000000 Budget Remaining $0 . Additional Required $0 DETAILED SUMMARY STATEMENT: The Business Improvement Area(BIA)is a special assessment district that raises funds for the maintenance of a specific area within the Central Business District. The Ordinance authorizing the City's existing BIA will expire on June 30, 2014. The attached Ordinance will extend the term of the BIA for an additional three years. The total amount assessed will remain the same as the previous three years,but the assessments for individual properties may change due to increases or decreases in assessed value. The Ordinance will also formally approve the proposed Downtown Everett Association budget for management of the BIA according to the intent outlined in Resolution 6730,which adopted on April 30, 2014. The Ordinance will take effect on June 30,2014. RECOMMENDATION(Exact action requested of Council): Adopt the Proposed Ordinance relating to the Business Improvement Area(BIA) extending the term of the existing BIA and special assessment levy for three additional years, and amending Ordinance No. 2842-05, as amended.