2004/04/28 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEMCOVER SHEET r. v PROJECT TITLE: An Ordinance relating to the Consent COUNCIL BILL # C60404— ( (‘) Downtown Everett Business Action Originating Department Legal Improvement Area (BIA), 4/14/04 First Reading Contact Person Ned Johnston approving the year 2004 Budget to 4/21/04 Second Phone Number 257-8727 be paid from current City BIA and Reading Downtown Everett Association 4/28/04 Third Reading FOR AGENDA OF 4/14/04 account balances. Public Hearing Initialed by: Department Head CAA Council President Location Preceding Action Attachments Department(s)Approval Ordinance No. 2097-95 Proposed Ordinance with establishing BIA proposed 2004 BIA budget. Council approval of this agenda item authorizes a budget revision in the additional amount requested. Expenditure Required $ 57,500.00 Account Number(s): 665 2399000000 Amount Budgeted $ -0- Additional Required $ 57,500.00 Account Number(s): 665 2399000000 DETAILED SUMMARY STATEMENT: The Downtown Business Improvement Area (BIA) budget for the year 2004 was presented to the Council pursuant to Ordinance No. 2097-95 at a hearing on February 18, 2004 and the Council voted to approve the budget. Since then, a review of the records discloses that the second reading was inadvertently omitted from the record. To remedy this omission, the City Attorney recommends that the ordinance to approve the BIA budget be brought back before Council for the three readings and voted on at the third reading. A repeat of the hearing, however, is not required to cure the deficiency because a lack of the second reading does not affect the validity of the hearing process. The accumulated balances from previous year's assessments of the City BIA and the Downtown Everett Association are sufficient to cover BIA costs for 2004 without an annual assessment. This is in keeping with the City's consultant's recommendation that the assessment for 2004 be waived if the current balances are sufficient to pay for the 2004 expenses. The DEA has agreed to pay one half of the budgeted$115,000 from its current surplus. The remaining $57,500 will be paid out of the City's surplus from past years assessments. The combined drawdown of the surplus from the two funds will substantially reduce the remaining balances in the DEA and City's BIA accounts. RECOMMENDATION (Exact action requested of Council): Adopt the Ordinance relating to the Downtown Everett Business Improvement Area(BIA), approving the year 2004 to be paid from current City BIA and Downtown Everett Association account balances. 11