Drafter
Clerk 05/06/2011
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AN ORDINANCE relating to the construction of the Technology Access Foundation's Community Center for 21st Century Skills at Lakewood park pursuant to the thirty-year use agreement authorized by Ordinance 15450; authorizing the King County executive to modify the payment schedule in the agreement, to extend the term of the agreement and to execute certain stormwater-related covenants affecting county parks property adjoining the center site.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. In 2006, pursuant to Ordinance 15450, King County and the Technology Access Foundation ("the foundation"), a Washington nonprofit corporation, entered into a thirty-year use agreement for the development of a new community center at Lakewood park.
B. The center is intended to serve as a regional hub for learning and personal development. Ordinance 15450 provides that the foundation will own and operate the community center for thirty years, providing its youth technology programs and offering a variety of classes and activities through nonprofit partners and in collaboration with public schools.
C. The foundation has determined that it is in the best interests of the project to divide construction into two phases: the building shell and tenant improvements. Although this approach is expected to assist the foundation in raising private funds for the community center, it necessitates a change to the schedule for the county's contributions to the project.
D. The foundation has determined that the project may qualify for substantial financing via the federal New Market Tax Credit program if the term of the use agreement is extended for an additional twenty years for a total term of fifty years.
E. The foundation has also determined that it can meet applicable stormwater requirements for the community center at significantly less expense, and with less long-term maintenance, if the county agrees to stormwate...
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