Resolution 8232 - Laserfiche WebLink

2025 RESOLUTION: DOWNTOWN BIA Page 2 of 6 Downtown Everett, BIA services are needed to enhance a welcoming environment for locals and visitors coming to and from downtown. 7. The ratepayer renewal task force also recommends a change to the assessment calculation due to increases in service costs. New calculation: $0.16 per $1,000 of assessed value per the Snohomish County Assessor, plus $0.11 per land square foot. Current formula: $0.14 per $1,000 of assessed value per the Snohomish County Assessor, plus $0.09 per land square foot. 8. The current BIA term and BIA budget approved by City Council is for the five years effective January 1, 2020 and ending December 31, 2025. It is recommended to extend the term and provide a budget for the five years effective January 1, 2026, and ending December 31, 2030. All BIA services will remain the same except the addition of the downtown flower program in coordination with City of Everett. 9. Accordingly: a. It is in the best interest of the property owners to amend the BIA Ordinance to extend the BIA term and provide a budget for the five years effective January 1, 2026, and ending December 31, 2030. b. It is in the best interest of the property owners to amend the BIA Ordinance to add the adjoining properties on both sides of the Pacific Avenue and Everett Avenue that serve as major thoroughfares through the BIA. c. It is in the best interest of the property owners to amend the BIA Ordinance to update the assessment rates and calculation method to reflect current service costs and the cumulative escalations from prior years, ensuring continued alignment with the annual budget. The proposed amending ordinance would rebase the formula to current levels. 10. The City will hold a public hearing to receive comments on the same. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND EVERETT CITY COUNCIL THAT: Section 1: The City Council will hold a public hearing on the 19th day of November, 2025, at 6:30 p.m., or as soon thereafter as possible, in the City Council Chambers, 3002 Wetmore Avenue, in Everett, Washington, to consider amendments to the BIA Ordinance. Section 2: Pursuant to Chapter 35.87A RCW, it is the intention of the City to extend the term of the BIA, established by the BIA Ordinance for five additional years, with the new boundaries described in Exhibit A to this resolution. These new boundaries expand the BIA to include the South side of Pacific Avenue and the North Side of Everett Avenues adjacent to the existing boundaries with exception for Single-family, duplex, and triplex residential parcels.