ORDINANCE __________________

AN ORDINANCE relating to the Wallingford Steps development project; increasing the expenditure authority of the Department of Parks and Recreation in the 2002 Adopted Budget by making a reimbursable appropriation to pay for that project as part of CIP Program K723003; all by a three-fourths vote of the City Council.

WHEREAS, in 2001, the sum of Four Hundred Twelve Thousand Dollars ($412,000) was appropriated for the Wallingford Steps development project as part of CIP Program K723003; and

WHEREAS, pursuant to an agreement expected to be signed between the City and Regata LLC ("Regata"), the City will accept a payment of One Hundred Thousand Dollars ($100,000) from Regata in lieu of construction of an overlook, eight-foot-wide concrete steps from the new cul-de-sac south to the Burke-Gilman Trail, and a storm drain line; and

WHEREAS, pursuant to RCW 82.02.020, the City shall deposit Regatta's payment into a reserve account and shall use the payment to pay for the costs of the improvements for which Regata is responsible;

NOW THEREFORE,

BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:

Section 1. Upon the signing of an agreement between the City and Regata committing Regata to contribute One Hundred Thousand Dollars ($100,000) to the project, the Superintendent of Parks and Recreation is hereby authorized to proceed with the enhanced Wallingford Steps development project K733126 in the 2002 CIP, using funds already appropriated for this purpose in the 2002 budget and funds appropriated in this ordinance.

Section 2. The Superintendent of Parks and Recreation, or his authorized representative, is hereby authorized to execute such agreements with other City departments, governments, private organizations, firms, and individuals as are necessary to carry out said project.

Section 3. The Superintendent of Parks and Recreation is hereby authorized to accept funds from Regata in the amount of One Hundred Thousand Dollars ($100,000) for expenditures related to the Wallingford Steps project. The money, when received, shall be deposited into a reserve account and then transferred, along with any interest then accumulated, to the 2000 Parks Levy Fund as reimbursement for the expenditures authorized in Section 4 below.

Section 4. To help pay for the project authorized in Section 1, and contingent upon the signing of an agreement between the City and Regata committing Regata to contribute One Hundred Thousand Dollars ($100,000) to the project, the appropriation in the 2002 Budget of the 2000 Parks Levy Fund is increased as follows:

Fund

Program Category

Amount

2000 Parks Levy Fund (33850)

Program K723003 2000 Parks Levy-Neighborhood Park Development Wallingford Steps-Development Project K733126

$100,000 plus interest earned from the time of deposit into a reserve account to the time of transfer to Fund 33850, not to exceed $110,000

Section 5. Any act consistent with the authority and prior to the effective date of this ordinance is hereby ratified and confirmed.

Section 6. The foregoing appropriation is made to meet actual necessary expenditures of the City for which no appropriation has been made due to causes that could not reasonably have been foreseen at the time of making the 2002 Adopted Budget. Now, therefore, in accordance with RCW 35.32A.060, by reason of the facts above stated, this ordinance shall

take effect and be in force thirty (30) days from and after its approval by the Mayor, but if not approved and returned by the Mayor within ten (10) days after presentation, it shall take effect as provided by Municipal Code Section 1.04.020.

Passed by a three-fourths vote of all the members of the City Council the _____ day of _______________, 2002, and signed by me in open session in authentication of its passage this _____ day of _______________, 2002.

___________________________________

President of the City Council

Approved by me this _____ day of _______________, 2002.

___________________________________

Mayor

Filed by me this _____ day of _______________, 2002.

___________________________________

City Clerk

(SEAL)

C. Chin

WALLord

4/23/2002

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