Multiple Agencies 4/15/2020 Amendment 3
Multiple Agencies 4/15/2020 Amendment 3
3/1/2021 11:47:56 AM
3/1/2021 11:47:36 AM
Council Approval Date
Department Project Manager
Subject / Project Title
Addendum 3 Development of the Events Center
Amendment/Change Order Number
6 Years Then Destroy
\Records\City Clerk\Contracts\6 Years Then Destroy\2021
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ADDENDUM NO.3 TO INTERLOCAL AGREEMENT FOR <br /> DEVELOPMENT OF THE EVERETT EVENTS CENTER <br /> This Addendum No.3 ("Addendum No.3")is made and entered into as of the day of <br /> April, 2020 among the City of Everett, a city duly organized and existing under and by virtue of <br /> the laws of the State of Washington("City"); the Snohomish County Public Facilities District, a <br /> municipal corporation duly organized and existing under the laws of the State of Washington <br /> ("County PFD"); Snohomish County, a political subdivision of and duly organized and existing <br /> under the laws of the State of Washington and the Charter of Snohomish County("County");and <br /> the Everett Public Facility District,a municipal corporation duly organized and existing under and <br /> by virtue of the laws of the State of Washington,established by the City of Everett("City PFD)". <br /> The City, County PFD,County,and City PFD are collectively referred to herein as the"Parties". <br /> RECITALS <br /> A. The Parties entered into an Interlocal Agreement dated December 20, 2001 <br /> ("Interlocal Agreement")to provide for the development of a Regional Center as defined in RCW <br /> 35.57.020 known as the"Everett Events Center" ("Regional Center"). <br /> B. The County PFD,under the authority of RCW 82,14.930,has imposed a Sales and <br /> Use Tax("Sales and Use Tax"), a portion of which the County PR)has allocated and agreed to <br /> contribute through intergovernmental project payments to the payment of debt service on the bond <br /> issued to finance the Regional Center in accordance and subject to the terms and conditions of the <br /> Interlocal Agreement("Tier 1 Allocation"). <br /> C. The County PFD entered into similar Interlocal agreements to provide funding for <br /> three (3) other regional centers pursuant to which the County PF ) has allocated and committed <br /> contributions from the Sales and Use Tax for the payment of debt service on the respective bonds <br /> issued to finance the development of the regional centers thereof,which when added to the Tier 1 <br /> Allocation shall be referred to herein as the"Aggregate Tier 1 Allocations." The Aggregate Tier <br /> 1 Allocations are in a fixed amount. <br /> D. Thereafter, the County PPL) experienced actual Sales and Use Tax revenue <br /> collection substantially in excess of the Aggregate Tier 1 Allocations. As a result,the County PFD <br /> allocated additional Sales and Use Tax revenues among the Regional Center and the three(3)other <br /> regional centers("Aggregate Tier 2 Allocations"). <br /> E. On February 25, 2009, the Parties to the Interlocal Agreement entered into <br /> Addendum No. 1 to the Interlocal Agreement ("Addendum No. 1") whereby the County PFD <br /> allocated a portion of the Aggregate Tier 2 Allocations to the City PFD ("Tier 2 Allocation"). <br /> Addendum No. 1 provides for semi-annual payments of the Tier 2 Allocation on May 1 and <br /> November 1 of every year so long as the bond indebtedness incurred to finance the Regional Center <br /> remains outstanding. <br /> F. Pursuant to legislative authorization that extended the time period for the Sales and <br /> Use Taxes imposed under RCW 82.14,390 from a maximum 25-year term to a maximum 40-year <br />
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