ORDINANCE__________
AN ORDINANCE relating to additional regular property taxes for Seattle Center, community center, and other neighborhood center improvements; providing for the submission to the qualified electors of the City at the general election on November 2, 1999, of a proposition authorizing the City to levy regular property taxes for up to eight (8) years in excess of the limitation on levies in RCW 84.55.010 for the purposes of making improvements to the Seattle Center Opera House, replacing the Seattle Center Flag Pavilion with a new Festivals Pavilion and open space, building and remodeling community centers, developing neighborhood civic centers, and funding neighborhood gathering places; providing for interim financing pending tax receipts; and creating a new fund.
WHEREAS, in 1990 the City Council adopted the Seattle Center 2000 Plan, a Master Plan to guide the redevelopment of Seattle Center; and
WHEREAS, in 1991 the voters of the City of Seattle authorized a "Seattle Center and Community Center" levy lid lift under the provisions of RCW 84.55.010 to make capital improvements at Seattle Center to begin implementation of Phase I of the Seattle Center 2000 Master Plan and to build five new community centers; and
WHEREAS, the projects authorized by the voters have been completed; and
WHEREAS, the Seattle Center 2000 Master Plan, as updated, identifies several other important capital projects, including substantial upgrades to the Opera House for its continued use as a quality performance space, and replacement of the Flag Pavilion; and
WHEREAS, in 1996 the City Council commissioned the creation of a comprehensive action plan for the redevelopment of certain Seattle Center facilities including the Opera House; and
WHEREAS, the Department of Parks and Recreation's Comprehensive Plan identifies a desire for new, expanded, and remodeled community centers; and
WHEREAS, the citizens of 37 Seattle neighborhoods are in the process of completing neighborhood plans; and
WHEREAS, the existing Seattle Center and Community Center levy lid lift expires at the end of 1999; and
WHEREAS, interim financing may be needed prior to the receipt of tax receipts from the levy lid lift proposed in this ordinance; and
WHEREAS, the City has provided by Council Bill 112682 for the issuance of Limited Tax General Obligation debt to provide further funding for the redevelopment of the Opera House, contingent upon voter approval of the levy lid lift authorized by this ordinance; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Levy of Additional Regular Property Taxes - Submittal. The City hereby submits to the qualified electors of the City a proposition as authorized by RCW 84.55.050 to exceed the levy limitation on regular property taxes contained in RCW 84.55.010 for property taxes levied in 1999 through 2006 for collection in 2000 through 2007, respectively, for the sole purpose of raising up to Seventy-Two Million Dollars ($72,000,000) in aggregate over a period of up to eight (8) years, to provide for improvements to the Opera House at Seattle Center, replacement of the Seattle Center Flag Pavilion with a new Festivals Pavilion and open space, construction or remodeling of community centers, development of neighborhood civic centers, and funding of neighborhood gathering places. The proposition shall be limited so that the City shall not levy in any year more than Nineteen Million Dollars ($19,000,000) in addition to the maximum amount of regular property taxes it could have levied consistent with chapter 84.55 RCW in the absence of this ordinance. Pursuant to RCW 84.55.050(4), the maximum regular property taxes that may be levied in 2007 for collection in 2008 and in later years shall be computed as if the limit on regular property taxes had not been increased under this ordinance.
Section 2. Use of Taxes. Up to Thirty-Six Million Dollars ($36,000,000) of the additional taxes authorized under this ordinance shall be used for the combined purposes of redeveloping the Opera House at Seattle Center and replacing the Seattle Center Flag Pavilion with a new Festivals Pavilion and open space (together, the "Seattle Center component"), as more fully described as elements in Attachment A. Up to Thirty-Six Million Dollars ($36,000,000) of the additional taxes authorized under this ordinance shall be used for the combined purposes of construction or remodeling of community centers, development of neighborhood civic centers, and funding of neighborhood gathering places (together, the "Community Centers component"), as more fully described as elements in Attachment B. The additional taxes shall be allocated each year between components as shown in Attachment C or within five percent (5%) of the amounts shown, unless the City Council, by three-fourths (3/4) vote, determines otherwise. If insufficient additional taxes are available to allocate each year between components as shown in Attachment C, the available additional taxes shall be allocated as the Council may direct. Funds and appropriations unexpended at the end of any budget year shall automatically be carried over to the next budget year. An element may be added to or deleted from Attachment B, or have its scope changed, only by an ordinance amending Attachment B, and passed by three-fourths (3/4) vote of the City Council. However, in no case shall funds authorized for the Seattle Center component be shifted to the Community Centers component, nor shall funds authorized for the Community Centers component be shifted to the Seattle Center component.
Section 3. Application of Proceeds. The additional taxes authorized under this ordinance shall be deposited into the 1999 Seattle Center/Community Centers Fund, which is hereby created in the City Treasury. Money in that Fund may be temporarily deposited or invested in such manner as may be lawful for the investment of City money and interest and other earnings shall be deposited in the Fund. The additional taxes and any interest or other earnings from their deposit or investment shall be applied solely for the projects authorized in this ordinance. The portion of taxes allotted to the Seattle Center component shall be deposited into a Seattle Center Subfund within the Fund, and the portion of taxes allotted to the Community Centers component shall be deposited into a Community Centers Subfund within the Fund. The Finance Director is authorized to create other funds, subfunds, or accounts as may be needed to implement the purposes of this ordinance.
Section 4. Bond and Notes. To the extent permitted by applicable law the City may issue bonds, notes, or other evidences of indebtedness payable wholly or in part from the proceeds of the additional taxes authorized under this Ordinance, and apply such tax proceeds to the payment of principal of, interest on, and premium (if any) on such bonds, notes, or other evidences of indebtedness and to the payment of costs associated with them.
Section 5. Election - Ballot Title. The King County Director of Records and Elections, as ex officio supervisor of elections, is hereby directed to submit to the qualified electors of the City the proposition set forth below at the City general election on November 2, 1999.
The City Clerk is hereby authorized and directed to certify the proposition to the King County Director of Records and Elections in the following form:
THE CITY OF SEATTLE
PROPOSITION NUMBER ____________
SEATTLE CENTER AND COMMUNITY CENTERS
To improve the Opera House and replace the Seattle Center Flag Pavilion, and for community centers, neighborhood civic centers and gathering places, shall Seattle lift the limit in Chapter 84.55 RCW on regular property taxes to permit collecting Seventy-Two Million Dollars ($72,000,000) in up to eight years, no more than Nineteen Million Dollars ($19,000,000) in any one year, setting maximum regular property taxes for 2000 collection at $3.52/$1,000 assessed value, pursuant to Ordinance __________?
o Levy, Yes
o Levy, No
Those in favor shall vote "Yes"; those opposed shall mark their ballots "No".
Section 6. Severability. In the event any one or more of the provisions of this ordinance shall for any reason be held to be invalid, such invalidity shall not affect any other provision of this ordinance or the levy of the additional taxes authorized herein, but this ordinance and the authority to levy those taxes shall be construed and enforced as if such invalid provisions had not been contained herein; and any provision which shall for any reason be held by reason of its extent to be invalid shall be deemed to be in effect to the extent permitted by law.
Section 7. Effective Date. This ordinance shall take effect and be in force immediately upon its approval by the Mayor or, if not approved and returned by the Mayor within ten (10) days after presentation, then on the eleventh (11th) day after its presentation to the Mayor or, if vetoed by the Mayor, then immediately after its passage over his veto.
Passed by the City Council the _____ day of _______________, 1999, and signed by me in open session in authentication of its passage this _____ day of _______________, 1999.
___________________________________
President of the City Council
Approved by me this _____ day of _______________, 1999.
___________________________________
Mayor
Filed by me this _____ day of _______________, 19____.
___________________________________
City Clerk
ATTACHMENT A
* It is not the City’s intent to bear the costs of any additional interim financing that might be sought due to delays in raising non-City funds, when compared to the timing for raising non-City funding for this component shown in Attachment C.
** By separate ordinance, the City expects to commit up to $8,400,000 in funds to the Opera House, to be raised through the issuance of Councilmanic bonds, if voters approve this levy lid lift. The City’s total financial contribution to this element will not exceed this $29,000,000 plus the $8,400,000 in Councilmanic bonds, plus interest earned on those principal amounts.
It is not the City’s intent to consider using the City’s debt capacity or financing through the City’s consolidated cash pool, or any components thereof, to cover any shortfalls in anticipated non-City funding shown in Attachment C.
It is not the City’s intent to use City funds to pay for any portion of cost overruns.
** Funding of the Yesler Community Center is conditional on the Seattle Housing Authority providing suitable land for its construction at a nominal cost.
* These figures are the City’s best estimate at this time of the likely cost to complete the elements as envisioned, including inflation and financing cost.