Resolution 7397 - Laserfiche WebLink

EVERETT WASHINGTON RESOLUTION NO. 7397 A RESOLUTION concerning Compensation for the Vacation of Streets and Alleys, amending Resolution No.3147 as amended WHEREAS, Resolution No. 5083 was passed and approved by the City Council on August 1, 2001; and WHEREAS, Resolution No. 5083 is a resolution concerning compensation for the vacation of streets and alleys, amending Resolution 3147; and WHEREAS, Resolution No. 5083 amended section 1 of Resolution 3147 to include the requirement that "one-half of the revenue received as compensation for the area vacated must be dedicated to the acquisition, improvement, development and related maintenance of public open space or transportation capital projects within the City"; and WHEREAS, the City Council has determined that additional policy guidance is needed to identify qualifying public open space and transportation capital projects that are eligible for funding from one- half of the revenue received as compensation for the area vacated; and WHEREAS, the intent of this resolution is to amend Resolution 3147, as amended, to provide additional policy guidance; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT that Resolution No. 3147, as amended by Resolution No. 5083, is amended by the addition of the following : Section 7: a) That beginning with the 2020 City of Everett budget preparation process and continuing with each successive budget preparation process cycle, the budget shall identify, at a minimum, accumulated funding from that portion of street and alley vacations available for open space and/or transportation capital projects within the City consistent with this resolution. b) That beginning with the 2020 City of Everett budget preparation process and continuing with each successive budget preparation process cycle, the budget shall identify a prioritized list of open space and/or transportation capital projects to be wholly or partially funded through the use of funds accumulated from that portion of street and alley vacations consistent with this resolution. c) That the following guidelines be utilized to identify the list of open space and/or transportation capital projects: 1. Seek a balanced list that contains both open space and transportation capital projects;