Drafter
Clerk 05/23/2006
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AN ORDINANCE making a supplemental appropriation of $1,248,891 to the public transportation construction-unrestricted fund to provide additional appropriation authority in support of the Northgate transit oriented development park and ride project: amending the 2006 Budget Ordinance, Ordinance 15333, Section 114, as amended, and Attachment B, as amended; and declaring an emergency.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Finding:
The plan to replace existing park and ride facilities that are presently provided at the Northgate park and ride lot located at 11203 5th Avenue NE, Seattle, Washington, and to convey that lot to the city of Seattle requires the execution of leases for replacement garage parking space with two project developers as well as a purchase and sale agreement with the city of Seattle, together with an appropriation necessary to fund the leases. The project developers have existing deadlines for the execution of leases with the county and for the conveyance of property between them that are necessary to support their project financing that will expire during the first week in June 2006. Delay of execution of these agreements past those deadlines would create a significant risk of cancellation of the projects or substantial project delays and cost increases to the county. Unless this ordinance is enacted as an emergency ordinance it will not be possible to accomplish the timely execution of the lease with Northgate Mall Partnership, which is necessary to allow the plan to proceed.
SECTION 2. Ordinance 15333, Section 114, as amended, is hereby amended by adding thereto and inserting therein the following:
From the following capital improvement project fund there is hereby appropriated and authorized to be disbursed the following amounts for the specific project identified in Attachment A to this ordinance.
Fund Capital Fund Name Amount
3641 Public Trans Const-Unr...

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