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November 28,2001 <br /> that would be$33 to$35 million.The City's portion of that would be in Series B. <br /> It would be drawn at the and and that portion would make up the difference Once <br /> we have two years of operation if the sales tax does grow the estimate has been <br /> 2%.-4%on the tax side.Qmat continues to happen we should have over 94%of <br /> the debt service that will be covered by tax.A good portion of the remainder will <br /> be covered by the net operations of the arena.It is sales tax backed commercial <br /> paper not city backed. <br /> PUBLIC HEARING—EVERETT TRANSIT SFRVICE CHANGES <br /> President Simpson opened a public hearing regarding proposed Everett Transit <br /> Service changes. <br /> KenHousden,Director of Transportation,stated that this is the last opportunity in <br /> the public input prowess with regard to the proposed transit service changes.This <br /> heating is also a federal requirement.The focus of transit service is be'ung moved <br /> from Hewitt and Hoyt Avenues to the Everett Station.Shuttle service will he <br /> added to rave the downtown area. Route 7 will be increased to 15-minute <br /> service There are minor changes on other individual routes throughout the City. <br /> He introduced Tom Hiogson and Richard Tarry who gave an overview of the <br /> proposed changes with specifics to the vari0us mutes. <br /> CounoiMember Gipson questioned cutting service to the Valley View and <br /> Eastmmnt areas. <br /> George Baxter,Transit,stated the Valley View neighborhood has very low <br /> ridership,approximately 2 people per day.The Eaalmont area is outside the City <br /> limits.N the fimue should the demand increase then this can be addressed. <br /> President Simpson asked for public comment <br /> Deanna Meyer,2224 96s Place SE,ooicd concern that Here needs to be an <br /> increase in the number of routes per day. <br /> 526 <br />