Ordinance 3919-22 - Laserfiche WebLink

Section 5. Deposit Into Fund. A special fund is hereby created, to be called the Everett Station District Business Improvement Area Fund, hereafter called the "ESDA BIA Fund," into which shall be deposited: A. All revenues from special assessments levied under this ordinance. B. Interest, late charges, penalties, and income from the investment of fund deposits. C. Gifts and donations to the fund. D. Restitution moneys for expenditures made from the fund and reimbursement due to the fund. Section 6. Expenditures. Expenditures from the ESDA BIA Fund as may be authorized by the City Council or Finance Director shall be used exclusively for the purposes specified in this ordinance and shall not be used for any other purpose. Section 7. Approval of Expenditures/Contract for Program Management. There is hereby appropriated and authorized to be expended from the ESDA BIA Fund the sum of $313,500, or so much thereof as may be necessary, for the purposes, activities, services, and projects approved for the 2023 BIA fiscal year (January 1, 2023, through December 31, 2023), as set forth in Attachment C to this Ordinance. Unless otherwise authorized by the City, the total amount to be specially assessed and expended in subsequent years 2024-2027 shall be as set forth in the budget as proposed by the Ratepayer Advisory Board and approved by the City Finance Director pursuant to Sections 8 and 14. The particular program and services to be provided for each subsequent period and the amount of funding thereof shall be as approved by Section 3 and 14 of this Ordinance and in accordance with RCW 35.87A.010. The Mayor is hereby authorized and directed to contract with the Everett Station District Alliance, or similar organization, to administer funds for the approved purposes, activities, services, and projects for the first year. Thereafter the City may continue each year to contract with the Everett Station District Alliance or similar organization to administer the forthcoming annual program, unless a suitable successor organization is recommended by (a) a majority of the votes of the ratepayers at their annual meeting weighed by the dollar value of their assessments, (b) a petition signed by ratepayers who pay the majority of the assessments, or (c) by the organization itself. Section 8. Administration. The ESDA BIA Fund shall be maintained by the City. To administer the account, the City Finance Director or their designee is authorized to: A. Collect special assessments based on data and information provided by the ESDA. B. Refund special assessments when overpaid and extend the deadline for payment and/or waive delinquency charges whenever the delinquency is the result of the failure by the City to provide a statement of the amount due, or nonpayment results from extenuating 2022 ORDINANCE: ESDA BIA Page 5 of 16