SEATTLE CITY COUNCIL - Record No: CB 120643

• Record No: CB 120643
• Version: 3
• Council Bill No: CB 120643
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 12/12/2023
• Ordinance No: Ord 126982
• Title: AN ORDINANCE relating to commercial tenancies; establishing limits on the maximum personal guaranty that may be included in or as a condition of commercial leases; and establishing limits on the value of a commercial lease's required security deposit and/or letters of credit; and adding a new Chapter 6.104 to the Seattle Municipal Code.
• Sponsors: Andrew Lewis
• Supporting documents: 1. Summary and Fiscal Note v2, 2. Summary and Fiscal Note v1, 3. Central Staff Memo (8/15/23), 4. Presentation (added 8/17/23), 5. Central Staff Memo(9/14/23), 6. Amendment 1, 7. Amendment 1 Updated (added; 12/6/23), 8. Amendment 3 (added; 12/6/2023), 9. Signed Ordinance 126982, 10. Affidavit of Publication

Date	Ver.	Action By	Action	Result
12/28/2023	3	City Clerk	attested by City Clerk
12/28/2023	3	Mayor	returned
12/28/2023	3	Mayor	returned unsigned
12/18/2023	3	City Clerk	submitted for Mayor's signature
12/12/2023	1	City Council	passed as amended	Pass
12/6/2023	1	Public Assets and Homelessness Committee	pass as amended	Pass
8/16/2023	1	Public Assets and Homelessness Committee	discussed
8/15/2023	1	City Council	referred
8/10/2023	1	Council President's Office	sent for review
8/9/2023	1	City Clerk	sent for review

CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to commercial tenancies; establishing limits on the maximum personal guaranty that may be included in or as a condition of commercial leases; and establishing limits on the value of a commercial lease's required security deposit and/or letters of credit; and adding a new Chapter 6.104 to the Seattle Municipal Code.
body
WHEREAS, the Washington Constitution provides in Article XI, Section 11 that "[a]ny city, county, town or township may make and enforce within its limits all such local police, sanitary and other regulations as are not in conflict with general laws"; and
WHEREAS, it is the goal of the City's Commercial Affordability Initiative, as a component element of the Equitable Development Initiative, to create new policies and steps to support commercial affordability to address the rising cost of commercial space for small businesses, which are key anchors for vulnerable communities; and
WHEREAS, owners of small businesses are less likely than owners of large businesses to own the properties from which those businesses are conducted, thus any requirements that affect tenant commercial businesses will impact small businesses to a greater extent than they will impact large businesses; and
WHEREAS, the Office of Economic Development's 2023 "Future of the Seattle Economy" report reflects a community-informed investment agenda that will promote inclusive economic growth, especially for communities that have systematically been excluded from such opportunities, and its findings identified the need to help Women and Minority Owned Business Enterprises (WMBE) and Small Business Enterprises (SBEs) avoid predatory practices that prevent them from building wealth through their businesses in an already inequitable system while enabling them to grow and remain in their communities; and
WHEREAS, standard commercial lease agreements generally require a personal gu...