Res 93-134
RESOLUTION NO.
93-134
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF FEDERAL WAY, WASHINGTON, APPROVING THE
APPLICATION TO KING COUNTY OPEN SPACE BOND
COMMITTEE AND KING COUNTY COUNCIL FOR
REALLOCATION OF CITY OF FEDERAL WAY OPEN SPACE
BOND FUND BALANCES FROM EXISTING PROJECTS TO A
NEW BOND PROJECT FOR ACQUISITION OF PROPERTY
COMMONLY KNOWN AS THE SISTERS OF VISITATION
MONASTERY.
WHEREAS, King County voters in 1989 approved an open
space bond project creating a Public Open Space, Park and Trails
Fund
("Open
Space
Fund")
for the acquisition
of
significant
properties within King County; and
WHEREAS, the Open Space Bond Fund designated certain
amounts of Bond Proceeds to be allocated among city of Federal Way
Project categories; and
WHEREAS, the Public Open Space, Parks and Trails Fund
Ordinance defined a process where, in the event of anticipated bond
proceeds, including but not limited to, excess interest earnings,
and/or project completion at less than estimated cost,
and/or
abandonment of projects,
the effected governmental agency may
reallocate
the
unanticipated
proceeds
through
its
normal
legislative process for a new project; and
WHEREAS, the Ordinance further provides that the County
Council may reallocate Funds to new projects after receipt of the
recommendation from the citizen's Oversight Committee
and
in
agreement with the effected agencies for new projects within the
RES #
93-134
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COpy
same Project category from which the Funds are realized and that
are consistent with purposes of the Bond; and
WHEREAS, the reallocation by the County Council for new
projects not referenced in the Bond Fund Ordinance or its Exhibit
may occur after review and transmittal by the Citizen Oversight
Committee of appropriate recommendations for the use of the Funds;
and
WHEREAS,
abandonment
of
a
project
requires
a
determination and Findings of Fact by the affected agency through
its formal
legislative process that changed conditions or new
information
developed
after
approval
of
the
Bond
Ordinance
prevented the practical accomplishment or clearly indicates that
the project would no longer serve its intended purpose; and
WHEREAS, the city Council of the city of Federal Way,
Washington, having been advised of the status of the existing Open
Space Bond Projects,
and having been
further
advised of
the
availability of the acquisition of property commonly referred to as
the Sisters
of Visitation Monastery Property,
desire to make
application to both the King County Council and the Citizens
Oversight Committee for reallocation of Open Space Bond Funds to
this new project, NOW THEREFORE
THE CITY COUNCIL OF THE CITY OF FEDERAL WAY, WASHINGTON
HEREBY RESOLVE AS FOLLOWS:
SECTION 1.
The Federal Way City Council hereby makes the
following Findings of Fact in support of this recommendation for
reallocation of Open Space Funds:
RES #
93-134
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1.
The allocation of Open Space Bond Projects occurred
before the incorporation of the City of Federal Way; and
2.
Projects allocated funding within the Open Space
Bond Projects include two (2) Spring Valley properties, Lake
Killarney project, Hylebos Projects #1 and #2, and the SW
363rd property; and
3.
Due diligence has been exerted by city of Federal
Way staff for the acquisition of the Spring Valley properties;
and
4.
All attempts at negotiation for the acquisition of
the Spring Valley properties have failed and the Federal Way
City
Council
declines
to
condemn
private
property
for
acquisition under the Open Space Bond Program; and
5.
The circumstances represent changes in conditions
since the above properties were identified as appropriate
acquisitions under the 1989 Open Space Bond Project which
prevents the practical accomplishment of acquisition of the
Spring Valley properties; and
6.
Abandonment of the Spring Valley properties would
make
available
funds
in
the
amount
of
$759,580.00
for
reallocation; and
7.
Purchases of the Lake Killarney, Hylebos Project #1
and #2 and SW 363rd properties have resulted in accrued
remaining balances in the amount of $663,420.00 plus interest
savings of $200,000.00 which amounts are now available for
reallocation to new projects; and
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93-134
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8.
New information is available to the City of Federal
Way City Council which has developed after approval of the
1989 Bond Ordinance which reveals that the property commonly
known as the Sisters of Visitation Monastery Property was
recently made available for acquisition by the City of Federal
Way; and
9.
The
Sisters
of
Visitation
Monastery
Property
represents a unique opportunity for acquisition by the City
which would advance the purpose of the Bond for preservation
of significant open spaces within the city of Federal Way; and
10.
The reallocation by the County Council for Open
Space Bond monies to be used for the acquisition of the
Monastery Property would advance the interest of the Bond
Ordinance, and be in the best interest of the City of Federal
Way and the citizens of King County.
SECTION 2.
The Federal Way City Council hereby directs the
city Manager or his or her designee to make proper application to
the King County open space Citizen Oversight Committee and to the
King County Council for reallocation of project Bond Funds to the
new project for acquisition of property known as the Sisters of
Visitation Monastery Property.
RES #
93-134
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SECTION 3.
Effective Date.
This resolution shall be
effective immediately upon passage as provided by law.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON, this ~ day of
April
, 1993.
CITY OF FEDERAL WAY
~(~~
MAYOR, ROBERT STEAD
ATTEST:
~q¡,~
c~~
CI~ ATTORNEY, CAROLYN A. LAKE
FILED WITH THE CITY CLERK: April 20, 1993
PASSED BY THE CITY COUNCIL: April 20, 1993
RESOLUTION NO. 93-134
Kathkeru..oluti..."Utcn.bod
RES # 93-134
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