Drafter
Clerk 07/22/2009
Title
AN ORDINANCE limiting King County's participation in the Port Quendall Revitalization Area; and declaring an emergency.
Body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. King County has received notification from the city of Renton of the city's intent to create a Revitalization Area as recently authorized under Chapter 270, Laws of Washington 2009, but has received limited written information with regard to the proposed Revitalization Area or related financial plan for debt repayment.
B. As set forth in Chapter 270, Laws of Washington 2009, local taxing jurisdictions that levy regular property or local sales and use taxes in the proposed Revitalization Area are automatic participants in the revitalization areas unless contrary notification is provided to the initiating jurisdiction before formal action by the initiating jurisdiction to create the Revitalization Area. The city of Renton indicates that formal action will be taken on August 17, 2009.
C. Automatic local jurisdiction participants pledge seventy-five percent of regular property tax increases resulting from new construction in the Revitalization Area to repayment of debt issued to fund public improvements in the area.
D. Due to insufficient information, the impact to King County of dedicating certain portions of the county's regular property taxes and/or sales and use taxes to support of the Port Quendall Revitalization Area is unknown at this time.
E. King County's general fund faces substantial budget shortfalls for the foreseeable future. Allowing the diversion of property and sales tax revenues during this budget crisis would exacerbate the current funding crisis. Given the limited time for the county to notify the city of its intent to opt out of the Port Quendall Revitalization Area a declaration of an emergency is warranted.
SECTION 2. Through this ordinance, King County removes itself as a participating taxing district for the Port Quendall Revitalization Area. By this action, King County removes the county regular property tax levy, the road district levy, the conservation futures levy and the emergency medical services levy from the Port Quendall Revitalization Area and will not pledge any King County local property tax allocation revenues to the Port Quendall Revitalization Area.
SECTION 3. Through this ordinance, King County will not participate as a local government in the Port Quendall Revitalization Area. By this action, King County will not allow the use of any local sales and use tax imposed by King County to be used for the Port Quendall Revitalization Area.
SECTION 4. Notification to city of Renton of withdrawal from Revitalization Area. The clerk of the council is hereby directed to send a notice to Ms. Bonnie Walton, the Renton City Clerk, that King County has removed all King County taxing districts as participating taxing districts in the Port Quendall Revitalization Area. The notice shall also indicate that King County has removed itself as a participating local government in the Port Quendall Revitalization Area. The notice shall indicate that the county will not pledge local property tax allocation revenues or local sales and use taxes to the Port Quendall Revitalization Area. The clerk of the council shall attach a copy of this ordinance with the notice and ensure that notice is received by the Renton city clerk no later than 4:30 p.m., July 31, 2009.
SECTION 5. The council finds as a fact and declares that an emergency exists
and that this ordinance is necessary for the immediate preservation of public peace, health or safety or for the support of county government and its existing public institutions.