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Record No: CB 119447    Version: 1 Council Bill No: CB 119447
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
On agenda: 1/28/2019
Ordinance No: Ord 125760
Title: AN ORDINANCE relating to the Central Waterfront Improvement Program and the LID Improvements identified herein; establishing Local Improvement District No. 6751 ("Waterfront LID") and ordering the carrying out of the proposed LID Improvements, as a component of the Seattle Central Waterfront Improvement Program in accordance with Resolution 31812; providing that payment for the LID Improvements be made in part by special assessments upon the property in the Waterfront LID, payable by the mode of "payment by bonds"; creating a local improvement fund; authorizing the issuance of local improvement bonds; and providing for interfund loans and for the issuance and sale of short-term financing instruments, and ratifying and confirming certain prior acts, all by a two-thirds vote of the City Council at a regular meeting.
Sponsors: Debora Juarez
Attachments: 1. Ex A – Waterfront LID Improvements, 2. Ex B – Waterfront LID Boundaries, 3. Ex C – Waterfront LID Improvements Cost Estimate Summary, 4. Appearance of Fairness Memo
Supporting documents: 1. Summary and Fiscal Note, 2. Mayor's Letter, 3. Related file: Clerk File 320972, 4. Presentation, 5. Signed Ordinance 125760, 6. Affidavit of Publication
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the Central Waterfront Improvement Program and the LID Improvements identified herein; establishing Local Improvement District No. 6751 ("Waterfront LID") and ordering the carrying out of the proposed LID Improvements, as a component of the Seattle Central Waterfront Improvement Program in accordance with Resolution 31812; providing that payment for the LID Improvements be made in part by special assessments upon the property in the Waterfront LID, payable by the mode of "payment by bonds"; creating a local improvement fund; authorizing the issuance of local improvement bonds; and providing for interfund loans and for the issuance and sale of short-term financing instruments, and ratifying and confirming certain prior acts, all by a two-thirds vote of the City Council at a regular meeting.
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WHEREAS, in January 2011, the City Council ("Council") of The City of Seattle (the "City") adopted Resolution 31264, creating the Central Waterfront Committee (CWC) to oversee development of the waterfront conceptual design and framework plan ("Concept Design and Framework Plan"), to ensure robust and innovative public engagement, to identify public and private funding sources, and to establish the foundation for a lasting civic partnership for the implementation of improvements to the central waterfront area of Seattle upon the removal of the Alaskan Way Viaduct; and
WHEREAS, by Ordinance 123761, originally passed in November 2011 and as amended by Ordinance 125188, the Council authorized creation of the Central Waterfront Improvement Fund and authorized an interfund loan to that fund to allow the Seattle Department of Transportation (SDOT) to incur pre-construction costs of planning and design for improvements that could be financed in part by a future local improvement district to be formed and known as the "Waterfront LID"; and
WHEREAS, by Resolution 31399, adop...

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