Drafter
Clerk 11/21/2024
Title
A RESOLUTION relating to the finances of the King County Flood Control Zone District ("District") for collection in 2025; authorizing a property tax levy increasing property tax revenue to implement the District's 2025 budget and work program; reserving banked capacity; and protecting up to $.25 per $1,000 of assessed value of the District's property tax levy from proration.
Body
WHEREAS, every year, King County faces threats from flooding, the impacts of which are far-reaching and pose significant threats to public health and safety and economic activities throughout the county, and
WHEREAS, the one hundred-year floodplain in the county covers more than 25,000 acres or almost forty square miles, and
WHEREAS, more than five hundred flood protection facilities throughout the county protect property with an estimated assessed value of more than $7 billion, and
WHEREAS, flood control facilities provide vital protection to the regional economy, and
WHEREAS, one of the most fundamental functions of government is to protect residents and public and private property from the ravages of natural disasters, such as flooding, and
WHEREAS, the King County Flood Control Zone District ("District") implements flood risk reduction projects countywide and conducts corridor planning studies in the major river systems of King County to better assess both current conditions and update its capital program planning to reflect flood risk reduction needs throughout the county, and
WHEREAS, the needs assessment performed for each capital investment strategy indicate that a much larger capital project need exists to implement planned multi-benefit flood risk reduction projects and address emergent and urgent flood risk reduction needs throughout King County, and
WHEREAS, the District seeks to increase its revenues starting in 2025, through a three cent increase in levy rates, and
WHEREAS, the District wishes to accumulate the revenues necessary t...

Click here for full text