RESOLUTION NO.
3626
A
RESOLUTION
of the Port Commission of the Port of Seattle removing the
Port of Seattle as a participating taxing district in the Cities
of Auburn, Bellevue, Federal Way and
Renton's proposed
Revitalization Area (s)
WHEREAS, the Washington State Legislature enacted Chapter 270, Laws of 2009 (the
"
Act
"
),
which permits eligible local governments to create
revitalizatioil areas and allows them to use certain
increases in local property tax revenues generated from within the revitalization area, including those
otherwise accruing to other taxing districts with jurisdiction over the revitalization area, to repay bonds
issued to finance local public improvements within the revitalization area; and
WI
-
IEREAS, on June 26, 2009, the City of Bellevue notified the Port of Seattle (the
"
Port
"
) that it
intends to declare a revitalization area under -the Act; and
WI
-
IEREAS, on July
8,
2009, the City of Auburn notified the Port that it intends to declare a
revitalization area under
the Act; and
WI
-
IEREAS, on July 10, 2009, the City of Renton notified the Port that it intends to consider
establishing two revitalization areas under the Act; and
WI
-
IEREAS, on July
13,
2009, the City of Federal Way notified the Port that it intends to declare a
revitalizatioii area under the Act; and
WHEREAS, the
ilotices from the City of Auburn and the City of Bellevue, each informed the Port
of its right
under the Act to opt out of the use of its property tax revenues for the local revitalization
financing of public improvements in the revitalization area proposed by the City of Auburn and the City
of Bellevue by
adopting a resolution to that effect and delivering notice of the Port's decision to opt out
as a participating taxing district in the local revitalization area to the City of Auburn and the City of
Bellevue, together with a copy of
the resolution, prior to August
3,
2009.
WHEREAS, the notice from the City of Federal Way informed the Port that the earliest possible
date for City Council adoption of the proposed Community Revitalization Area would be August
4,
2009.
WI-IHREAS, the notice from the City of Renton informed the Port that the earliest possible date
for the City Council adoption of ordinances establishing Community Revitalization ordinances would be
August
17,
2009.
NOW,
THEREFORE,
BE
IT
RESOLVED
by the Port Commission of the Port of Seattle that:
Section
1.
The Port exercises its right under the Act to opt out as a participating taxing district
-
-
in the following proposed local revitalization areas:
City of Auburn Revitalization Area
City of Bellevue Revitalization Area
City of Federal Way Revitalization Area
City of
Renton Revitalization Areas
Section 2.
The Port's Chief Executive Officer is hereby directed to deliver notice of the Port's
decision to the cities of Auburn, Bellevue, Federal Way and
Renton, with a copy of this Resolution,
prior to August
3,
2009.
ADOPTEI)
by the Port Commission of the Port of Seattle at a regular meeting thereof,
held this day of
,
2009, and duly autheilticated in open sessioll by the
signatures of the Commissioners voting in favor thereof and the seal of the Commission.
Port
Cominission
