2007/01/24 Council Agenda Packet

Syr srs RESOLUTION NO. A Resolution providing for the annual distribution of $100,000 of Hotel/Motel Tax Funds to the Everett Public Facilities District through 2036 and superseding Resolution No. 4972. WHEREAS, the City of Everett (City) imposes and collects under the provisions of Chapter 67.28 and Chapter 3.64 EMC, a tax on Hotel and Motel accommodations; and WHEREAS, Chapter 67.28 RCW provides guidance and direction as to the use of these funds to promote tourism through community attractions and entertainment events; and WHEREAS, the Everett Events Center serves as a destination for community attractions and entertainment events to attract visitors to the City; and WHEREAS, in the year 2000 the Lodging Tax Advisory Committee and the Everett City Council Finance Committee recommended that the Everett City Council contribute $100,000 of Hotel/Motel Tax funds for the Everett Events Center; and WHEREAS, the Interlocal Agreement Between the City and the Everett Public Facilities District (District) for Financing A Regional Center(the Everett Events Center) dated February 25, 2002 (Interlocal Agreement), committed $100,000 of Hotel/Motel Tax funds to the Everett Events Center for an initial period of ten (10) years commencing in 2001; and WHEREAS, the Everett Events Center's long-term outlook will benefit from an extended commitment to distribute $100,000 of Hotel/Motel Tax funds annually for thirty years beginning in 2007, or until the indebtedness of the District is paid in full, whichever occurs first; NOW, THEREFORE, be it resolved by the City Council of the City of Everett: 1. The City will distribute $100,000 of Hotel/Motel Tax funds annually to the District beginning in 2007 through the year 2036, or until the indebtedness is paid in full, whichever occurs first. 2. The appropriate officials of the City are hereby authorized to enter into an amendment to the Interlocal Agreement consistent with the terms of this resolution. 12 1