Form revised December 5, 2005

FISCAL NOTE FOR NON-CAPITAL PROJECTS

Department:	Contact Person/Phone:	DOF Analyst/Phone:
Seattle Department of Transportation	Kim Nunes 3-7159	Cameron Keyes 4-8048

Legislation Title:

AN ORDINANCE relating to Local Improvement District (LID) No. 6750 (to construct a modern streetcar line serving downtown Seattle, Denny Triangle, and South Lake Union); adding a new section to Ordinance 121951 to authorize filing and confirmation of the final assessment roll before completion and acceptance of the improvement; appointing a hearing officer; authorizing the dollar amount for the Maximum Allowable Construction Contract (MACC); and ratifying and confirming prior acts; all by a two thirds vote of the City Council.

· Summary of the Legislation:

This legislation adds a new subsection to Ordinance 121951 per Council Bill ______, which established the procedures for the final assessment roll.  It appoints Rodney Kerslake to serve as the City Council’s hearing officer for considering the final assessment roll for LID No. 6750. This legislation also approves the MACC amount which is listed as $1,000 as a placeholder.

· Background:

In June 2005, Council approved the South Lake Union Streetcar Capital Finance Plan (Ordinance 121850).  In October 2005, Council approved Ordinance 121591 which formed the LID and authorized special assessments of $25.7 million but maintained the option to increase this amount if the project costs increased.  Consequently, Council required its approval of the MACC amount prior to moving forward with the final assessment roll.  Through the attached legislation, Council is approving the MACC amount not to exceed $_____ (to be filled in by March 14, after the Seattle Department of Transportation has reached a negotiated amount).  This contract amount is consistent with Council’s approval of the Capital Finance Plan filed as Clerk File No. 307392.

Chapter 20.04 of the Seattle Municipal Code establishes procedures for managing the LID process, but those procedures don’t allow for the full range of options for preparing the final assessment roll while an improvement is being constructed.  Council Bill _______ amended Chapter 20.04 to authorize consideration of a final assessment roll at any time before, during, or after the beginning or completion of the improvement. This legislation declares that filing of the proposed final assessment roll and the hearing on the final roll will occur prior to completion and acceptance of the improvement for LID No. 6750. 

__X__ This legislation does not have any financial implications.