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AN ORDINANCE approving an agreement between King County and 4Culture on how the preservation action fund will be administered and governed in accordance with the 2015/2016 Budget Ordinance, Ordinance 17941, Section 74, as amended by Ordinance 18179, Section 2, Proviso P1.
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STATEMENT OF FACTS:
1. Through Ordinance 18181, the King County council authorized the executive to enter into the Agreement for Implementation of the Building for Culture Program by and between King County and 4Culture, which was executed on December 2, 2015.
2. Through Ordinance 18179, the King County council amended Ordinance 17941, Sections 74 and 92 to make a supplemental budget appropriation of $28,000,000 to the cultural development authority, which is also known as 4Culture, and $500,000 to the historic preservation program for the building for culture program.
3. Ordinance 18179, which amended the 2015/2016 Biennial Budget Ordinance, Ordinance 17941, Sections 74 and 92, stated in Section 2, Proviso P1, that $2,000,000 of the $28,000,000 budget appropriation shall be expended or encumbered solely for the preservation action fund. Of that amount, funds shall not be encumbered or expended until the executive transmits an agreement between the county and 4Culture on how the preservation action fund will be administered and governed.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. Saving and preserving threatened buildings or sites of historic or architectural significance provides important benefits to the preservation of the arts and cultural heritage of King County and promotes tourism.
B. Long-standing local examples of historic and architectural heritage preservation that have successfully promoted significant tourism include Pioneer Square and the Pike Place Market.
C. The preservation action fund will make it possible to provide similar public benefits through heritage preservation in additional communities in King County.
SECTION 2. In accordance with Ordinance 18179, Section 2, Proviso P1, the agreement between King County and 4Culture for the administration and governance of the preservation action fund, as detailed in Attachment A to this ordinance, is hereby approved.
SECTION 3. The executive shall submit an annual report on progress and spending on the preservation action fund. The executive shall file the annual report and a motion accepting the report by September 1 of each year until the preservation action fund is terminated, in the form of a paper original and an electronic copy with the clerk of the council, who shall retain the original and provide an electronic copy to all councilmembers, the council chief of staff and the lead staff for the committee of the whole, or its successor.