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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET <br /> PROJECT TITLE: <br /> Interlocal Agreement Between X Briefing COUNCIL BILL# <br /> the City of Everett and the Proposed Action Originating Department Finance <br /> Everett Public Facilities Consent Contact Person Susy Haugen <br /> District amending the Events X Action Phone Number 425-257-8612 <br /> Center Ground Lease First Reading FOR AGENDA OF August 1,2018 <br /> Second Reading <br /> Third Reading <br /> Public Hearing <br /> Budget Advisory Initialed by: <br /> Department Head <br /> Administration <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> Amount Budgeted -0- <br /> Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: The existing ground lease between the City of Everett and <br /> Everett Public Facilities District expires in 2036. The EPFD is in the process of refmancing and extending <br /> the maturity of its outstanding bonds to 2041. This amendment will extend the term of the ground lease to <br /> match the new maturity date of the EPFD's debt. <br /> RECOMMENDATION(Exact action requested of Council): <br /> Authorize the Mayor to sign the Interlocal Agreement between the City of Everett and the Everett Public <br /> Facilities District amending the Events Center ground lease. <br /> 1 <br />