CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to the Seattle Streetcar; amending Ordinance 122424 to revise reporting requirements of operating streetcar lines.
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WHEREAS, Ordinance 121951 authorized the construction of a modern streetcar line serving downtown Seattle, Denny Triangle and South Lake Union; and
WHEREAS, the South Lake Union Streetcar began operations in December 2007; and
WHEREAS, Ordinance 123833 authorized the construction of a modern streetcar line serving Pioneer Square, International District, First Hill and Capitol Hill; and
WHEREAS, the First Hill Streetcar is anticipated to begin operations in 2015; and
WHEREAS, Ordinance 122424 established annual reporting requirements on streetcar operations to compare performance against a 2007 Baseline Financial Plan, and did not include provisions for updating the baseline; and
WHEREAS, updated financial projections are included in the annual Adopted Budget; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Section 2 of Ordinance 122424 is amended as follows:
Section 2. ((Attachment B, the Seattle Streetcar Operations and Maintenance Financial Plan (the Financial Plan) proposed by the Executive has been submitted and will be used as the "Baseline Financial Plan" to monitor and track actual expenditures and revenues against those projected in the Financial Plan. The Executive shall provide an annual written report to the City Council pertaining to the Seattle Streetcar's operations and finances for the preceding year, comparing actual experience with the Baseline Financial Plan. The report will be due no later than March 1 of every year. The report shall include projected vs. actual ridership numbers, projected vs. actual revenues and expenditures, actual use of funds from the Consolidated (Residual) Cash Pool for interim financing, the number of Metro service hours used to operate the streetcar...
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