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4 <br /> WHEREAS, Initiative -1033 jeopardizes our ability to manage the public's finances, <br /> investments and budgets effectively and efficiently; and <br /> WHEREAS, the City is required to realize incremental revenues to qualify for $12.5 <br /> million in state-matching funds over the next 25 years to fund construction of the public <br /> infrastructure for the Snohomish Riverfront Redevelopment Area; and <br /> WHEREAS, the City Council has carefully considered the direct and indirect <br /> impacts of Initiative 1033 and concludes the initiative will undermine the ability for the City <br /> of Everett to provide essential services to its residents, to carefully manage its budgets, <br /> and to invest in capital improvements and infrastructure necessary to serve and maintain <br /> growth. <br /> NOW, THEREFORE, THE CITY OF EVERETT HEREBY RESOLVES TO OPPOSE <br /> INITIATIVE 1033. <br /> Ray Stephanson, Mayor Arlan Hatloe, Council President <br /> Shannon Affholter, Council Vice-President Paul Roberts, Council Member <br /> Mark Olson, Council Member Ron Gipson, Council Member <br /> Drew Nielsen, Council Member Brenda Stonecipher, Council Member <br /> 5 <br />