Drafter
Clerk 12/21/2006
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AN ORDINANCE authorizing the King County executive to lease three hundred fifty park and ride stalls from Northgate South Commons, LLC.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. King County's growth management policies promote the creation of housing in urban areas to minimize sprawl and encourage urban development, walking, and other benefits of downtown development.
B. Consolidation of the park and ride spaces adjacent to the Northgate Transit Center provides important benefits to Metro's customers and provides better service and reliability.
C. King County will gain significant sales tax and property tax revenues through the redevelopment of parcels adjacent to the Northgate Transit Center.
D. Northgate South Commons, LLC is developing property east of and adjacent to the Northgate Transit Center.
E. King County and Northgate South Commons, LLC, have negotiated the terms of a new lease agreement for stalls in the Northgate South Commons parking garage. These terms are similar to those previously approved in Ordinance 15476 but the new terms alter the starting date of the project by slightly over a year and increase the one-time capital payment by eight hundred seventy-five thousand dollars and reduce the operations and maintenance payment from two hundred forty dollars to one hundred fifty dollars per stall per year, in the first year.
F. The development will include construction of a parking garage.
G. Shared parking stalls reduce the area devoted to automobiles and promote more pedestrian friendly urban environments. The Northgate South Commons parking garage will provide parking for park and ride users and visitors to the Northgate Mall and thus reduce the land area dedicated to surface parking.
H. The plan to replace existing park and ride facilities that are presently provided at the Northgate park and ride lot located at 11203 - 5th Avenue NE, Seattle, W...
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