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Record No: CB 120178    Version: Council Bill No: CB 120178
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
On agenda: 9/27/2021
Ordinance No: Ord 126449
Title: AN ORDINANCE amending Ordinance 126237, which adopted the 2021 Budget; changing appropriations to various departments and budget control levels, and from various funds in the Budget; and lifting a proviso; all by a 3/4 vote of the City Council.
Sponsors: Tammy J. Morales
Supporting documents: 1. Summary and Fiscal Note v2, 2. Summary and Fiscal Note, 3. OPCD Director's Report, 4. Proposed Substitute Bill, 5. Presentation, 6. Signed Ordinance 126449, 7. Affidavit of Publication
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE amending Ordinance 126237, which adopted the 2021 Budget; changing appropriations to various departments and budget control levels, and from various funds in the Budget; and lifting a proviso; all by a 3/4 vote of the City Council.
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WHEREAS, on December 11, 2017, the City Council passed Resolution 31786, which called for the issuance of a combined Request for Proposals (RFP) for the disposition of 800 Mercer Street and 620 Avenue North to address neighborhood interests, creating opportunities to take advantage of South Lake Union as a "neighborhood of opportunity"; and
WHEREAS, on September 16, 2019, the City Council passed Ordinance 125916 to authorize the sale of these properties; and
WHEREAS, the 2020 Adopted Budget used a portion of the proceeds from the sale of these properties to establish a Strategic Investment Fund to provide investment in areas that are at high risk of displacement or in areas of low access to opportunity that present unique opportunities for transformational equitable development, and placed a proviso directing the Executive to submit a proposed spending plan for this fund; and
WHEREAS, the 2021 Adopted Budget re-established the Strategic Investment fund and placed a proviso directing the Executive to submit a proposed spending plan for this fund in Council Budget Action FG-002-B-002; and
WHEREAS, a committee of Black, Indigenous, and People of Color (BIPOC) community leaders and equitable development experts convened in 2019 to propose funding criteria for the Strategic Investment Fund to fund the acquisition of land and real estate in order to respond to immediate displacement pressures, grow community wealth and relationships, co-locate multiple community benefits, and fill gaps in community development; and
WHEREAS, the Community Advisory Group was reconvened in 2021 to confirm the purpose of the fund and to design an RFP and collec...

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