Res 10-573RESOLUTION NO. 10-573
A RESOLUTION of the City Council of the City of Federal Way,
Washington, Amending the Distribution of Monies in the Redevelopment
Fund Resolution Nos. 05-460 and 09-564 for the Sole Purpose of Funding
the Implementation Plan for a Medical Device Innovation and
Commercialization Incubator.
WHEREAS, on October 18, 2005 the City Council of the City of Federal Way established a
Downtown Redevelopment Fund to encourage catalyst redeyelopment projects in accordance with
the Leland Consulting Group's "City Center Redevelopment Strateg}�'; and
WHEREAS, the City Council determined that the use of the monies in the Redevelopment
Fund would be limited to four general purposes: (1) positioning or acquisition of real property for
redevelopment, (2) contribution to public infrastructure improvements, (3) contribution to public
open spaces, and (4) contribution to public parking facilities; and
WHEREAS, on October 20, 2009, the City Council amended Resolution No. OS-460 to
authorize the one time expenditure from the Redevelopment Fund of One Hundred Thousand Dollars
($100,000) in 2010 and 2011 for the purpose of contributing to a portion of the program of Business
Incubator Project designed to create jobs in Federal Way; and
WHEREAS, on January 26, 2010, the City Council wishes to amend Section 3 of Resolution
Nos. OS-460 and 09-564 to authorize the one time allocation of Two Hundred Fifly Thousand
Dollars ($250,000) for the implementation plan for a medical device innovation and
commercialization incubator to create jobs in Federal Way.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
RESOLVES AS FOLLOWS:
Resolution No.10-573 Page 1 of 3
Section 1. Resolution Nos. OS-460 and 09-564, Section 3, shall be amended as follows:
Section 3. Use of Funds. Use of City Center Redevelopment Fund monies shall be
for one of four general purposes, consistent with the City Council Resolution No. OS-
459: positioning or acquisition of real property for redevelopment; contribution to
public infrastructure improvements; contribution to public open spaces; or
contribution to public parking facilities.
A. There shall also be a one time contribution of One
Hundred Thousand Dollars ($100,000) in 2010 and of
One Hundred Thousand Dollars in 2011, for a total of
Two Hundred Thousand Dollars ($200,000), towards a
portion of the program for the Business Incubator Project,
which is designed to create jobs in Federal Way.
B. There shall also be a one time contribution of Two
Hundred Forty-five Thousand Dollars ($245,0001 for the
implementation plan for a medical device innovation and
commercialization incubator to create iobs in Federal
Wav •
Section 2. Severabilitv. If any section, sentence, clause orphrase ofthis resolution shouldbe
held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or
unconstitutionality shall not affect the validity or constitutionality of any other section, sentence,
clause or phrase of this resolution.
Resolution No.10-573 Page 2 of 3
Section 3. Corrections. The City Clerk and the codifiers of this resolution are authorized to
make necessary corrections to this resolution including, but not limited to, the correction of
scrivener/clerical errors, references, resolution numbering, section/subsection numbers and any
references thereto.
Section 4. Ratification. Any act consistent with the authority and prior to the effective date
of this resolution is hereby ratified and affirmed.
Section 5. Effective Date. This resolution shall be effective immediately upon passage by
the Federal Way City Council.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON this 2 day of February, 2010.
ATTEST:
CITY OF FEDERAL WAY
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CITY CLERK, CARO MCNE , CMC
APPROVED AS TO FORM:
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CI ATTORNEY, PATRICIA A. RICHARDSON
FILED WITH THE CITY CLERK: 1/26/2010
PASSED BY THE CITY COUNCIL: 2/2/2010
RESOLUTION NO.: 10-573
Resolution No.10-573 Page 3 of 3