HomeMy WebLinkAbout1993-101 Community Redevelopment Financing ORDINANCE NO 93-
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AN ORDINANCE relating to the formation of an apportionment
district for community redevelopment financing; proposing a
plan for public improvements within such district; describing the
proposed public improvements, estimating their cost; setting
forth boundaries for the proposed apportionment district;
estimating a period for apportioning tax revenues, describing the
proposed use of tax allocation revenues, giving notice of the
intention to issue bonds to finance part of the proposed public
improvements, and setting public hearings thereon.
WHEREAS, the economic health of the core business district is vital to
the economy of the entire City of Yakima and Yakima County; and
WHEREAS, pursuant to the Community Redevelopment Financing
Act, Chapter 39.88 RCW (the "Act "), the City of Yakima, Washington (the
"City ") is authorized to allocate a portion of regular property taxes from an
apportionment district for a limited period of time to finance all or a part of the
cost of making public improvements in urban areas to encourage private
development in such district; and
WHEREAS, the acquisition, construction and installation of certain
public improvements within the core business district of the City are suitable
for community redevelopment financing and will encourage private
development in the core business district for the benefit of the entire City and
its residents, and
WHEREAS, the public improvements proposed to be financed by means
of community redevelopment financing are consistent with the City's
comprehensive land use plan, with the County's comprehensive land use plan
and with the planning goals of the State of Washington Growth Management
• Act; and
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WHEREAS, the City intends that a portion of the increased property
taxes resulting from the public improvements proposed herein will not
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become tax allocation revenues under the Act, and will be used by the City to
promote the availability of affordable housing within the boundaries of the
City; and
WHEREAS, in accordance with the provisions of the Act, the City
Council (the "Council ") wishes to receive public comment on the projects
proposed herein and on the use of community redevelopment financing to
pay all or a portion of the cost of such projects,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF YAKIMA,
WASHINGTON AS FOLLOWS
Section 1 Proposed Plan of Improvements The following plan for
public improvements to be financed by the City of Yakima, Washington (the
"City ") pursuant to the authority of the Act is hereby proposed.
A Description of Proposed Improvements The proposed public •
improvements are set forth on Exhibit A attached hereto and incorporated
herein by this reference (collectively, the "Projects ")
The City shall determine the application of available moneys as among
the various Projects so as to accomplish, as nearly as may be, all public
improvements described or provided for in this ordinance The City shall
determine the exact extent and specifications for construction of structures or
other improvements If the Council, by ordinance, shall determine that it has
become impractical to accomplish one or more of the Projects or portion
thereof by reason of changed conditions or needs, or costs substantially in
excess of the amount of tax allocation revenues estimated to be applied thereto,
the City shall not be required to accomplish such improvements.
In the event that tax allocation revenues and the proceeds of sale of
bonds payable, in part, from such tax allocation revenues, plus any other •
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moneys of the City legally available, are insufficient to accomplish all of the
• public improvements provided by this section, the City shall use the available
funds for paying the cost of those improvements deemed by the Council most
necessary and in the best interests of the City and its residents.
B Estimated Cost. The estimated cost of the Projects, inclusive of
planning, design, engineering, site preparation, construction, financing
(including reserves), legal costs, tax allocation, administrative, and potential
assessor's reassessment costs, is set forth on Exhibit A.
C. Boundaries of Apportionment District. The boundaries for the
proposed apportionment district are set forth on the map attached as Exhibit B
hereto and incorporated herein by this reference A legal description of the
proposed apportionment district is attached as Exhibit C hereto and
incorporated herein by this reference, and is on file with the City Clerk.
. D Estimated Time for Apportionment It is estimated that tax
allocation revenues will be apportioned for a period of 20 years from the date
the first tax allocation revenues are apportioned to finance the Projects It is
proposed that apportionment of tax allocation revenues begin on January 1,
1995
E. Use of Tax Allocation Revenues To finance all or a portion of
the costs of the Projects, it is proposed that the City sell its bonds payable in
whole or in part from tax allocation revenues Pending the sale of bonds, the
City plans that it may pay any or all necessary costs of the Projects from other
City funds temporarily available, and reimburse the source or sources of those
funds from the proceeds of those bonds when sold. The City plans to use tax
allocation revenues from the City, the State of Washington, and Yakima
County, to pay principal of and interest on the bonds and thereby to fund the
• costs of the Projects. The City plans that it may also use tax allocation revenues
from the City, the State and the County, to reimburse itself directly for costs of
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the projects it incurs if those expenses have not been paid or reimbursed from
bond proceeds. •
In the event tax allocation revenues are received at a faster rate than
originally estimated, the City will use such revenues to defease or redeem
bonds prior to their scheduled maturity
Section 2. Findings. The Council hereby finds that the Projects (i)
are located within an urban area within the City of Yakima, (ii) will encourage
private development within the apportionment district proposed in Section 1
hereof, (iii) will increase the fair market value of real property within such
apportionment district, (iv) and that the private development that is
anticipated to occur within such apportionment district is consistent with the
City's existing comprehensive land use plan and approved growth policies.
Section 3 Public Hearings The following are the dates, times, and
places for the public hearings to be held by the City Council on the proposed
Projects and the plan of improvements set out in Section 1 of this ordinance •
November 30, 1993 - 2:00 p.m. - City Council Chamber in City Hall, at
129 North Second Street, Yakima,
Washington,
December 7, 1993 - 2:00 p.m. - City Council Chamber;
December 7, 1993 - 7.00 p.m. - Yakima Convention Center, at 10 North
Eighth Street, Yakima, Washington.
The City Council will also accept written comments on the Projects and
the plan set out in Section 1 hereof through December 17, 1993 Written
comments must be sent to the Department of Community and Economic
Development, City of Yakima, at 129 North Second Street, Yakima,
Washington 98901, Attention. Glenn J Valenzuela, Director
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Section 4 Notice of Public Hearings The City Clerk shall arrange for
• the notices required by RCW 39.88.040 to be delivered, published, and posted as
required by state law
Section 5 Severability If any one or more of the provisions of this
ordinance shall be declared by any court of competent jurisdiction to be
contrary to law, then such provisions shall be null and void and shall be
deemed separable from the remaining provisions of this ordinance and shall
in no way affect the validity of the other provisions of this ordinance.
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Section 6. Effective Date. This ordinance shall be in full force and effect
30 days from and after its adoption, approval, and publication as required by •
law
ADOPTED by the City Council of the City of Yakima, Washington, at a
regular meeting thereof on this 9th day of November, 1993
CITY OF YAKIMA, WASHINGTON
B y P,cut
Mayor
ATTEST
&t/1..2-,-- 2 ) GkVlc
City Clerk •
Published 11 -12 -93
Effective date 12 -12 -93
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EXHIBIT A
• Unless otherwise stated, all of the costs of the Projects described below are
expected to be paid from tax allocation revenues.
Downtown Yakima Streetlighting Improvements: $1.4 million
Streetlighting improvements will be installed along streets within the area
bounded on the north by E. "B" Street, on the east by Naches Avenue, on the
south by E. Walnut Avenue, and on the west by Front Street, with a westerly
extension along Yakima Avenue to Fifth Avenue.
Downtown Yakima Streetscape Improvements: $500,000
Streetscape improvements will be constructed and installed along streets
within the area bounded on the north by E. "B" Street, on the east by Naches
Avenue, on the south by E Walnut Avenue, and on the west by Front Street,
with a westerly extension along Yakima Avenue to Fifth Avenue The
streetscape improvements will include sidewalk improvements, street
furniture, artwork, landscaping, signage, and street utility elements.
Expansion of Yakima Convention Center. $7.8 million
Tax allocation revenues will be used to finance up to $4,000,000 of the cost of
• expanding and upgrading the Yakima Convention Center, including the
addition of approximately 25,000 square feet of contiguous meeting space,
smaller meeting rooms (totaling approximately 9,000 square feet),
approximately 9,000 square feet of exhibition space, more support, and
improvements to the entrance Construction of these improvements is
expected to begin in 1996
Parking Structure: $3 million
A two -level public parking structure providing approximately 180 parking
spaces will be constructed on real property owned by the City on the block
bounded by S 3rd Street, E Chestnut Street, S 2nd Street, and E Yakima
Avenue Construction of the parking structure is expected to begin in the
ninth year of tax revenue apportionment.
Yakima Avenue Street Improvements: $2 million
Yakima Avenue street improvements will be constructed, from 8th Street to
10th Avenue Improvements will consist of pavement rehabilitation,
wheelchair ramps at intersections, existing utility adjustments, repair of
deteriorated curbs and sidewalks, and restriping.
All cost estimates are in 1993 dollars.
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EXHIBIT C
LEGAL DESCRIPTION FOR PROPOSED _ _
COMMUNITY REDEVELOPMENT FINANCING
APPORTIONMENT DISTRICT
Beginning at the point of intersection of the centerline of West "r Street and the
centerline of North First Avenue, thence southwesterly along the centerline of
North First Avenue to it's intersection with the centerline of West Lincoln
Avenue, thence Northeasterly along the centerline of West Lincoln Avenue
(turning into "C" Street) to the point of intersection with the centerline of an
alleyway extended between Block 187, Grafton's Addition to North Yakima (now
Yakima) as recorded in Volume A of Plats, page 95, records of Yakima County,
Washington, thence Northwesterly along said centerline to the point of
intersection of with the centerline of "D" Street, thence Northeasterly along the
centerline of "D" Street to a point of intersection with the East line extended of
Block 186, College Addition to North Yakima, W T , (now Yakima) as recorded
• in Volume A of Plats, page 43 records of Yakima County, Washington, thence
Northwesterly along said line tope North line of the South half of the Southeast
quarter of Section 18, Township 13 North, Range 19, E W M., thence South 87°
55' 19" East along the said North line of last said subdivision 75.55 feet to a ,
point which is 1,821 00 feet North 87° 55' 19" West of the Northeast corner of
said subdivision, thence North 17° 54' 19" West 65 feet, thence South 87° 55'
19" East 460 feet, thence North 80° 57' 41" East 500 feet, thence South 72° 28"
19" East 253 40 feet, thence South 58° 18' 49" East to the Westerly right -of -way
line of State Highway No 3 (S R. 82), thence Southerly following the West right -
of -way line of State Highway No 3 to the North line of Section 20, Township 13 -
North, Range 19 E W M. , thence East along the North line of Section 20 to the
West bank of the Yakima River; thence following the West bank of the Yakima
River Southeasterly to the centerline of Section 20, Township 13 North, Range
20 E W M., thence South along said centerline to the North right -of -way line of
Riverside Street, thence West along the North right -of -way line of Riverside
Street and right -of -way line extended to the West right -of -way line of State
Highway No 3 (SR -82), thence Southeasterly along the West right -of -way line to
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a parcel of land described as follows
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That portion of Sections 20 and 29, Township 13 North, Range 19, E W M
beginning at the northwest corner of the Northeast quarter of said Section 29, •
thence South 0° 00' West along the West line thereof 93.50 feet , thence North
68° 27' East 87 50 feet to the true point of beginning, thence North 68° 2T East
113 68 feet, thence North 56° 35' East 187 11 feet, thence South 37° 28' East
238 14 feet to the West line of State Highway (SR -82), thence South along the
West line of State Highway (SR -82) to a point which is North 88° 55' 10" West
309 02 feet from the true point of beginning, thence North 88° 55' 10" West
309 02 feet to the true point of beginning
Following along the Easterly and Southerly boundaries of the aforesaid parcel
to a point on the East line of the Northwest quarter of Section 29, Township 13
North, Range 19 E W M , said point being the Southeast corner of Lot 1 of Short
Plat No 84 -88, thence continuing Westerly along the South and West
boundaries of said Lot 1 to the point of intersection with the centerline of Pacific
Avenue, thence West along the centerline of Pacific Street to a point south of
the centerline of the alleyway to Block 199, Parker Addition to North Yakima,
(now Yakima) as recorded in Volume B of Plats, Page 50, records of Yakima
County, Washington, thence North to said centerline and continuing North
along said centerline and centerline extended to the point of intersection with
the centerline of Race Street, thence East along the centerline of Race Street to
a point where the centerline of the alley of Block 197, Whitson's Addition,
recorded in Volume D of Plats, Page 24, records of Yakima County,
Washington, extended Southeasterly intersects, thence Northwest following
said centerline and centerline extended to the point of intersection with the
centerline of Beech Street, thence Northeasterly following the centerline of
Beech Street to the point of intersection with the centerline of Tenth Street,
thence Northwesterly following the centerline of Tenth Street to the point of
intersection with the centerline of East Spruce Street, thence East along the
centerline of East Spruce Street to it's point of intersection with the centerline of
Union Street, thence South along the centerline of Union Street to it's point of
intersection with the centerline of Spruce Street, thence Southwesterly along
the centerline of Spruce Street to a point of intersection with the extended
centerline of the alleyway in Block 74, Town of North Yakima, (now Yakima), as
recorded in Volume E of Plats, page 1, records of Yakima County Washington,
thence Southeasterly along said centerline and centerline extended to a point
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• of intersection with the centerline of Race Street, thence Southeasterly to a
point of intersection with the centerline of the alley of Block 78, thence South
along said centerline and centerline extended to the point of intersection with
the South line of Section 19, Township 13 North, Range 18 E W M , thence
West along said section line to the East section line of Section 24, Township 13
North, Range 18 E W M., thence North along said section line to the point of
intersection with the centerline of the alley in Block 234, Town of North Yakima,
(now Yakima), as recorded in Volume A of Plats, page 10, records of Yakima
County, Washington, thence Northwesterly along said centerline and centerline
extended to the point of intersection with the centerline of Spruce Street, thence
Southwesterly along the centerline of Spruce Street to the point of intersection
with the extended centerline of the alley between fractional Block 293, Kerr's
Addition to North Yakima, (now Yakima), recorded in Volume A of Plats, page
17, records of Yakima County, Washington and fractional Block 293, Capital
Addition to North Yakima, (now Yakima), as recorded in Volume A of Plats,
page 29, records of Yakima County, Washington, thence Northwesterly along
said centerline and centerline extended to the point of intersection with the
• centerline of Walnut Street, thence Southwesterly following the centerline of
Walnut Street to the point of intersection with the centerline of South 7th
Avenue, thence Northwesterly following the centerline of South 7th Avenue to
the point of intersection with the centerline extended of an alley running
East/West through Block 331, Capital Addition to North Yakima, (now Yakima),
as recorded in Volume A of Plats, page 29, records of Yakima County,
Washington, thence Southwesterly following said centerline and centerline
extended to the point of intersection with the centerline of South 8th Avenue,
thence Northwesterly along the centerline of South 8th Avenue to the point of
intersection with a line extended Northeasterly from the boundary line between
Lots 2 and 3 of Block 351 of Capital Addition to North Yakima, (now Yakima), as
recorded in Volume A of Plats, page 29, thence Southwesterly along said line to
the point of intersection with the centerline of the alley in said Block 351, Capital
Addition to North Yakima, (now Yakima), thence Southeasterly along said
centerline to a point of intersection with a line extended Northeasterly from the a
boundary between Lots 13 and 14 of said Block 351, thence Southwesterly —
along said line extended to the point of intersection with the centerline of South
9th Avenue, thence Southeasterly along the centerline of South 9th Avenue to
• the point of intersection with a line extended Northeasterly from the boundary
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line between Lots 5 and 6 of Block 371 of Capital Addition to North Yakima,
(now Yakima), as recorded in Volume A of Plats, page 29, thence
Southwesterly along said line to the point of intersection with the centerline of
the alley in said Block 371, thence Northwesterly along said centerline to the
point of intersection with a line extended Northeasterly through the East/West
centerline of Lot 12, Block 371, Capital Addition to North Yakima, (now Yakima),
as recorded in Volume A of Plats, page 29, thence Southwesterly along said
line extended to the point of intersection with the centerline of South 10th
Avenue, thence Northwesterly along the centerline of South 10th Avenue to the
point of intersection with the centerline of Summitview Avenue, thence West
along the centerline of Summitview Avenue to the point of intersection with the
centerline extended of Custer Avenue, thence North along the centerline of
Custer Avenue to a point of intersection with the extended boundary line
between Lots 10 and 11 of Black's Addition to North Yakima, (now Yakima), as
recorded in Volume A of Plats, page 90, records of Yakima County, Washington,
thence East along said line to the Northeast corner of Lot 10, thence South
following the East line of Lot 10 to the point of intersection with the centerline of
the East /West alleyway running through MacCrimmon and Needham's
Subdivision as recorded in Volume A of Plats, page 40, records of Yakima •
County, Washington, thence East to the point of intersection with the centerline
of Pierce Street, thence North following the centerline of Pierce Street to the
point of intersection with the centerline of Browne Avenue, thence East
following the centerline of Browne Avenue to the point of intersection with the
centerline of West "A" Street, thence Northeasterly following the centerline of
West "A" Street to the to the point of intersection with the centerline extended of
an alley through Block 309, Kerr's Second Addition to North Yakima, W T , (now
Yakima), as recorded in Volume A of Plats, page 17, records of Yakima County,
Washington, thence Northwesterly following said centerline extended to the
point of intersection with the centerline of West Lincoln Avenue, thence
Northeasterly following said centerline to the point of intersection with the
centerline of North 3rd Avenue, thence Northwesterly along said centerline to
the point of intersection with the centerline of West "D" Street, thence
Northeasterly along said centerline to the point of intersection with a line
extended South of the East boundary line of Block "A" Charlton Addition as
recorded in Volume B of Plats, page 102, records of Yakima County,
Washington, thence North along said line to the Northeast corner of the •
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• aforesaid Block "A ", thence West along the North'-boundary of Chartton Addition
264 feet, thence North to the point of intersection with the centerline of Cherry
Avenue, thence East following the centerline of Cherry Avenue to the point of
intersection with the centerline of North 3rd Avenue, thence North along the
centerline of North 3rd Avenue to the North right -of -way line of Willow Street,
thence West along said right -of -way line to the point of intersection with the
centerline of North 4th Avenue, thence North along the centerline of North 4th
Avenue to the point of intersection with the centerline of West "I" Street, thence
East along the centerline of West 1" Street to the point of beginning and
terminus of description
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CERTIFICATE OF CITY CLERK
I, the undersigned, the duly chosen, qualified and acting Clerk of the City of Yakima,
Washington (the "City "), and keeper of the records of the Council of the City (the "Council "), DO
HEREBY CERTIFY
1 That the attached ordinance is a true and correct copy of Ordinance No of
the City (the "Ordinance "), as finally passed at a regular meeting of the Council held on the 2nd
day of November, 1993, and duly recorded in my office
2 That said meeting was duly convened and held in all respects in accordance with
law, and to the extent required by law, due and proper notice of such meeting was given, that a
quorum was present throughout the meeting and a legally sufficient number of members of the
Council voted in the proper manner for the passage of the Ordinance, that all other requirements
and proceedings incident to the proper passage of the Ordinance have been duly fulfilled, carried
out and otherwise observed, and that I am authorized to execute this certificate
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the •
City this day of November, 1993
City Clerk
(SEAL)
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