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HomeMy WebLinkAboutSenator, The - Agreement to Pay Past Due DYBID AssessmentsTHE SENATOR, LLC S AGREEMENT TO PAY PAST DUE DYBID ASSESSMENTS TO THE CITY OF YAKIMA, WA The Senator, LLC, a Washington corporation and the City of Yakima, Washington, a Washington municipal corporation (hereafter City), together identified as the Parties hereto, agree to the following resolution of the lawsuit filed by the City Of Yakima against The Senator, LLC under Yakima County Superior Court Cause No. 13 -2- 00703 -6 for past due and outstanding Downtown Yakima Business Improvement District assessments accrued during 2010, 2011 and 2012 (the "Lawsuit "). RECITALS: The City of Yakima approved a Downtown Business. Improvement District (DYBID) witliiri the downtown aren of the Cily for' = ±he purposP:'.of providing:'speci ic- seryices,and materials for the benefit of the business owners and operators within the defined DYBID area; and The business owners and operators within the DYBID area receive the special benefits of the services and materials provided to the business owners and operators within the defined DYBID area; and The business owners and operators receiving the special benefits of the services and materials provided within the DYBID area are required to pay an established assessment to compensate the City for the benefit said owners and operators receive from the DYBID in the way of the additional services and materials provided within the district; and The Senator, LLC owns, operates and /or oversees three parcels of property located within the DYBID assessment /service area and assessments are charged by the City to said property in accord with the assessment formula provided in the DYBID ordinance; and The Senator, LLC has failed to pay the City DYBID assessments invoiced to it by the City in 2010, 2011 and 2012 totaling Eight Thousand Seven Hundred Fifty Two and 11 /100 Dollars ($8,752.11) as of October 2, 2012. The City has filed the Lawsuit pursuant to the statutory assessment collection process provided in RCW 35.50 to collect the past -due accrued total assessment value together with all costs associated with such action, which associated costs total $717.33; and The Senator, LLC and the City have reached an agreement to resolve the outstanding 2010, 2011 and 2012 DYBID assessment debt and the Lawsuit in accord with the terms ,of this Agreement; Now, Therefore The Parties agree to resolve the outstanding DYBID assessment balance due and owing to the City for DYBID assessments invoiced to The Senator, LLC during the 2010, 2011 and 2012 assessment period and the costs incurred in the Lawsuit in the total amount of Nine Thousand Four Hundred Sixty Nine and 44/100 Dollars ($9,469.44) as follows: 1) The Senator, LLC will pay Three Thousand One Hundred Fifty Six and 48/100 Dollars ($3,156.48) on or before April 5, 2013. 2) The City will invoice The Senator, LLC on or about June 15, 2013 for the amount of Three Thousand One Hundred Fifty Six and 48/100 Dollars ($3,156.48), said amount to be paid to the City by no later than July 1, 2013. 3) The City will invoice The Senator, LLC on or about September 15, 2013 for the amount of Three Thousand One Hundred Fifty Six and 48/100 Dollars ($3,156.48), said amount to be paid to the City by no later than October 1, 2013. The Parties agree that upon. the City's receipt of the three payments-in accord with the terms set forth herein, the City shall deem the past due 2010, 20i 1 and 2012 DYBID assessments - and all costs associated with the Lawsuit owed by The Senator, LLC to have been paid in full. Within five (5) days of the City's receipt of the third payment in accord with the terms set forth herein the City will dismiss the Lawsuit with prejudice and no further claim or action of any kind whatsoever shall be made or taken with regard to the 2010, 2011 and 2012 DYBID assessments. PROVIDED, that in the event the payments are not received by the City in accord with this agreement the Parties agree that the City shall be entitled to recover the full unpaid amount of said assessments, together with interest accumulated thereon at the rate of 12 percent (12 %) per annum from the date said assessments became past due, up to and including the date final payment of the past due assessments, together with all accrued interest and all reasonable attorney fees and costs incurred in collecting the past due assessments, is paid in full to the City by The Senator, LLC. The Parties further agree that this repayment agreement is intended only to resolve the past -due assessment balance accrued for DYBID assessments charged in 2010, 2011 and 2012, and all present and future DYBID assessments due and owing by The Senator, LLC for the property it owns within the DYBID area shall be payable when invoiced and The Senator, LLC's obligation to so pay shall not be affected in any way by the terms of this Repayment Agreement. The undersigned signatory executing this Agreement on behalf of The Senator, LLC represents by said signature hereon that he has the full authorization to accept on behalf of The Senator, LLC and to binds oabove stated terms. City of Ypkima I / ( / The By: Tony O' Ro ke ity Manager Date: 4 '' l l Dati CITY CONTRAC r N0: RESOLUTION NO: