2005/06/15 Council Agenda Packet

VERIsI"T CITY C()t1NC[l, AUI NDA ITLM C()VEIR SI IF E, t, PROJECT TITLE: Amount Budgeted Expenditure Required Account Number(s): Budget Remaining Additional Required DETAILED SUMMARY STATEMENT: The downtown area of the City, changed by the addition of new businesses, residential properties and condominiums and the Everett Events Center on Hewitt Avenue has created increased numbers of visitors and other activity in the downtown. The City's consultant PUMA, Inc. has recommended that the assessment method should be modified to include assessed value of the property as well and lineal footage. The advent of the new businesses along Hewitt and the increased pedestrian use of Hewitt and Broadway generated by the Events Center require that the area of Hewitt between Broadway and Rucker be made a part of any BIA. The most expeditious way of accomplishing these changes is to pass a resolution to disestablish the old BIA and establish a new BIA. The new BIA would use the new boundary description and the new assessment method of assessed value and footage. Chapter 35.87A RCW, which provides for BIAS, allows any remaining assets and liabilities of the BIA to be disposed of as the City Council sees fit. This Resolution follows the statutory procedure for the Council to give notice of and conduct a hearing on the disestablishment of the BIA and the establishment of a new BIA and it budget and assessments. The hearing is to be held June 29, 2005 at 8:30 AM. A final Resolution of disestablishment of the old BIA and the establishment of new BIA will be considered along with an Ordinance setting up the new BIA, adopting the budget and setting the assessments for the BIA fiscal years (July 1 through June 30) 2005, 2006 and 2007. RECOMMENDATION (Exact action requested of Council): Adopt the Resolution initiating and expressing intent to disestablish the existing downtown Business Improvement Area (BIA), establishing a new BIA, a budget and assessments and setting a public hearing for June 29, 2005 8:30 AM. 79 Consent COUNCIL BILL # Resolution initiating and X Action Originating Department Legal/Administration expressing intent to disestablish First Reading Contact Person Ned Johnston the existing downtown Second Phone Number 257-8727 Business Improvement Area Reading (BIA), establishing a new BIA, Third Reading FOR AGENDA OF June 15, 2005 a budget and assessments and setting a public hearing for Public Hearing June 29, 2005, 8:30 AM.. Initialed by: Department Head CAA Council President Location Preceding Action Attachments Department(s) Approval Resolutions 4149 and 4151 Amount Budgeted Expenditure Required Account Number(s): Budget Remaining Additional Required DETAILED SUMMARY STATEMENT: The downtown area of the City, changed by the addition of new businesses, residential properties and condominiums and the Everett Events Center on Hewitt Avenue has created increased numbers of visitors and other activity in the downtown. The City's consultant PUMA, Inc. has recommended that the assessment method should be modified to include assessed value of the property as well and lineal footage. The advent of the new businesses along Hewitt and the increased pedestrian use of Hewitt and Broadway generated by the Events Center require that the area of Hewitt between Broadway and Rucker be made a part of any BIA. The most expeditious way of accomplishing these changes is to pass a resolution to disestablish the old BIA and establish a new BIA. The new BIA would use the new boundary description and the new assessment method of assessed value and footage. Chapter 35.87A RCW, which provides for BIAS, allows any remaining assets and liabilities of the BIA to be disposed of as the City Council sees fit. This Resolution follows the statutory procedure for the Council to give notice of and conduct a hearing on the disestablishment of the BIA and the establishment of a new BIA and it budget and assessments. The hearing is to be held June 29, 2005 at 8:30 AM. A final Resolution of disestablishment of the old BIA and the establishment of new BIA will be considered along with an Ordinance setting up the new BIA, adopting the budget and setting the assessments for the BIA fiscal years (July 1 through June 30) 2005, 2006 and 2007. RECOMMENDATION (Exact action requested of Council): Adopt the Resolution initiating and expressing intent to disestablish the existing downtown Business Improvement Area (BIA), establishing a new BIA, a budget and assessments and setting a public hearing for June 29, 2005 8:30 AM. 79