Form revised: December 6, 2011

 

 

 

FISCAL NOTE FOR NON-CAPITAL PROJECTS

 

Department:

Contact Person/Phone:

CBO Analyst/Phone:

Seattle Department of Transportation

Angela Steel/684-5967

Rebecca Guerra/684-5339

 

Legislation Title:

AN ORDINANCE relating to a pedestrian skybridge over and across the alley between 3rd Avenue and 4th Avenue, north of Spring Street, amending Ordinance 120858, as amended by Ordinance 121855, updating the insurance and bond requirements, and amending the annual fee and other terms and conditions of the permit; renewing the term of the permit to Wallyson’s Inc.; providing for the acceptance of the permit and conditions; and ratifying and confirming certain prior acts.

 

Summary of the Legislation:

This legislation amends Ordinance 120858, as amended by Ordinance 121855, for Wallyson’s Inc. to continue maintaining and operating the existing skybridge located over and across the alley between 3rd Avenue and 4th Avenue, north of Spring Street. An area map is attached for reference.

 

This permit is renewed for a ten-year term starting on September 1, 2011.  The legislation updates the insurance and surety bond provisions as recommended by the City’s Risk Manager, specifies the conditions under which authorization is granted, and provides for acceptance of the permit and conditions.

 

The ordinance requires Wallyson’s Inc. to pay the City an annual fee of $13,824 starting from September 1, 2011, and annually thereafter.  Adjustments to the annual fee may be made every year and if so made shall be calculated in accordance with a term permit fee schedule adopted by the City Council by Ordinance 123485. An Annual Fee Appraisal Summary is attached for reference.

 

 


Background:  

By Ordinance 120858, the City granted permission to Wallyson’s Inc. to construct, operate, and maintain a skybridge located over and across the alley between 3rd Avenue and 4th Avenue, north of Spring Street, for a ten-year term, renewable for two successive ten-year terms.

 

The conditions of Ordinance 120858 were amended by Ordinance121855. The permission authorized by Ordinance 120858 was due for renewal on August 31, 2011.

 

 

 

Please check one of the following:

 

____    This legislation does not have any financial implications.

 

___X_ This legislation has financial implications.

 

Appropriations:  N/A

 

Anticipated Revenue/Reimbursement Resulting from this Legislation:

 

Fund Name and Number

Department

Revenue Source

2012

Revenue

2013

Revenue

Transportation Operating Fund 10310

Seattle Department of Transportation

Annual Fee –

 

2011 Fee: $13,824

2012 Fee:

$13,824

TBD

TOTAL

 

 

$27,648

TBD

 

Revenue/Reimbursement Notes:  None

 

Total Regular Positions Created, Modified, or Abrogated through this Legislation, Including FTE Impact:  N/A

 

Do positions sunset in the future?  No

 

Spending/Cash Flow: N/A

 

Other Implications: 

 

a)      Does the legislation have indirect financial implications, or long-term implications?

No

 

b)     What is the financial cost of not implementing the legislation? 

If the legislation is not enacted by the City Council, the City of Seattle will not receive the annual fee of $13,824. As previously stated, the City of Seattle has the option to adjust the fee amount on an annual basis. 

 

c)      Does this legislation affect any departments besides the originating department? 

No 

 

d)     What are the possible alternatives to the legislation that could achieve the same or similar objectives?  None

 

e)      Is a public hearing required for this legislation? 

No

 

f)       Is publication of notice with The Daily Journal of Commerce and/or The Seattle Times required for this legislation?

No

 

g)      Does this legislation affect a piece of property?

Yes, an area map is attached for reference.

 

h)     Other Issues: N/A

 

List attachments to the fiscal note below:

Attachment A – Wallyson’s Skybridge Area Map

 

Parking Garage
 
 

 

 

 

 

 


Map is for informational purposes only and is not intended to modify or supplement the legal description(s) in the Ordinance.

 

Attachment B – Annual Fee Assessment Summary

 

 

 

STREET USE ANNUAL FEE ASSESSMENT

 

Summary:

Land Value:  $600/SF

First Year Permit Fee:

$13,824
 
Date:             5/8/12

 

 

 

 

 

I.                      Property Description:

Existing skybridge located over and across the alley between 3rd Avenue and 4th Avenue, north of Spring Street. Connecting Tax parcels are 0942000140 and 0942000145.  Permit is for a total 144 square foot area. 

 

Applicant:

Wallyson’s Inc.

 

Abutting Parcels, Property Size, Assessed Value:

 

1.     Parcel 0942000140; 12,210 SF

 

Tax year 2011 Appraised Land Value $7,326,000

Assessed at $600/SF

 

2.     Parcel 0942000145; 19,980 SF

 

Tax year 2011 Appraised Land Value $11,988,000

Assessed at $600/SF

 

2011 tax assessed land value: $600/SF

 

 

 

II.            Annual Fee Assessment:

The 2011 permit fee is calculated as follows:  ($600/SF) X (144 SF) X (200%) X (8%) = $13,824, where 200% is the degree of alienation for a private-use skybridge and 8% is the estimated annual rate of return.

Fee methodology authorized under Ordinance 123485.