Ordinance 3936-23 - Laserfiche WebLink

ORDINANCE NO. ________ An ORDINANCE Relating to the Downtown Business Improvement Area (BIA), AMENDING Ordinance No. 3582-17, as amended WHEREAS, A.The City Council adopted Ordinance No. 3582-17, which established the Downtown Everett Business Improvement Area (BIA). The City Council later adopted Ordinance No. 3783-20 (amending Ordinance No. 3582-17), which extended the term of the Downtown Everett Business Improvement Area (BIA) for five years, modified the special assessment levy and boundaries, and approved a five-year budget, pursuant to Chapter 35.87A RCW; and B.Ordinance No. 3783-20 further provided that the annual assessment for each property would increase by either 3% or multiplied by the June-to-June percent change in the Consumer Price Index – Urban (CPI-U) for the Seattle, Tacoma, Bellevue area, whichever is greater; and C.The June 2021 – June 2022 percent change in the Consumer Price Index – Urban (CPI-U) for the Seattle, Tacoma, Bellevue area was 10.14%; and D.The 2023 – 2025 annual BIA budgets include a 3% annual increase; and E.It is in the best interest of the property owners located within the boundary of the Downtown BIA to impose a cap on the annual assessment increase. F.In addition, it is in the best interest of the property owners to amend the BIA ordinance(s) so that, in the event the assessments for a year are insufficient for the annual budget, then the budget shall be, as determined by City Council, reduced to match the revenue. G.The City Council adopted Resolution No. 7862 (the “Notice Resolution”), declaring its intent to modify the special assessment levy by capping the annual assessment increase and declaring its to amend the BIA ordinance(s) so that, in the event the assessments for a year are insufficient for the annual budget, then the budget shall be, as determined by City Council, reduced to match the revenue. H.As provided in the Notice Resolution, the City Council held a public hearing on February 1, 2023, in the Everett City Hall Council Chambers, regarding the matters stated above, prior to the adoption of this Ordinance. 3936-23