Drafter
Clerk 09/18/2018
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AN ORDINANCE authorizing a new funding agreement and amendment to the existing financing agreement with the Washington State Major League Baseball Stadium Public Facilities District.
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STATEMENT OF FACTS:
1. Rapid population growth in King County will necessitate building affordable and market rate housing near improved public transportation options.
2. The King County council, by passing Motion 14687 in 2016, acknowledged receipt of the Transit Oriented Development Bond Allocation Plan, and the goal of financing up to eighty-seven million dollars of housing projects.
3. As authorized by the state Legislature through RCW 67.28.180, beginning in 2021, at least thirty-seven and one-half percent of the lodging taxes generated every year in King County must be used "for contracts, loans, or grants to nonprofit organizations or public housing authorities for affordable workforce housing within one-half mile of a transit station, as described under RCW 9.91.025 or for services for homeless youth."
4. Equally important are: the building of new gathering places, sites where our diverse histories can be interpreted and shared and public cultural spaces; and the preservation of historic structures that create community identity, encourage strong social connections and further opportunity for entertainment, education and interactions. Civic institutions, such as history and art museums, public galleries, community cultural organizations, performing art centers and historic structures, play a central role in our economy and benefit local businesses, residents and tourists.
5. Arts, culture and heritage make this region an attractive place for new businesses that bring with them new jobs, as arts and heritage businesses add two billion dollars in business activity, eight hundred eighty-two million dollars in payroll and thirty-two thousand five hundred jobs to the central Puget Sound region.
6. As authorized by the state Legislatur...

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