2020/04/15 Council Agenda Packet

• E EVERETT City Council Agenda Item Cover Sheet Council Bill#interoffice use Authorize the Mayor to Sign Addendum 3 to the Interlocal Consideration: Agreement related to the Everett Events Center Project: Agenda dates requested: April 15,2020 Partner/Supplier : Snohomish Co.,Snohomish County PFD,and Everett PFD Location: Preceding action: Addendum 2 Briefing Fund: Proposed action Consent X Project summary statement: Action Ordinance Snohomish County,Snohomish County Public Facilities District,City of Everett and Public hearing Everett Public Facilities District are parties to an interlocal agreement entered into in Yes No 2001 relating to the development of the Everett Events Center—now generally known Budget amendment: as Angel of The Winds Arena. This agreement included funding provided from the Yes No Snohomish County PFD through a sales and use tax to assist in payment of debt service on bonds issued to finance the development of the Events Center. PowerPoint presentation: Yes No Attachments: The sales and use tax proceeds to the Snohomish County PFD were higher than originally Addendum 3,ILA anticipated which left a surplus,so a second allocation (Tier II)was created to fund the Everett Events Center and the other 3 PFD's in the County. This second allocation was Department(s)involved: to be provided semi-annually—in May and November. Finance/Administration Due to Covid-19 containment regulations that have resulted in a substantial decrease in Contact person: revenue to the Everett Public Facilities District,this Addendum No.3 provides for the Nick Harper early distribution of Tier II funds to assist in meeting the Everett Public Facilities District's financial needs. Phone number: 425-257-8608 Email: nharper@everettwa.gov Initialed by: Department head RECOMMENDATION:Authorize the Mayor to sign Addendum No.3 to the Interlocal Agreement as presented. Administra Coun i President 17