Title 04 Administrative Agencies and Procedures
Chapter 04.31 Parking and Business Improvement Area
Section 04.31.040 Levy of Special Assessments
- To finance the programs set forth in SMC 4.31.030, there shall be levied and collected an annual special assessment upon the “businesses” and “multifamily residential or mixed-use” projects, as defined in RCW 35.87A.020(3) (including real property improvements thereon) as set forth on the special assessment formula for the BID, which shall be adopted annually by ordinance and incorporated by this reference as if fully set forth herein.
- For purposes of levying and collecting special assessments within the BID, the BID will be divided into four zones (the boundaries of which are set forth in Appendix A hereto and incorporated herein by this reference). Within each such zone, the City will levy and collect special assessments at different rates based on whether the entity being assessed is a tenant (and, if so, the type of tenant) or a property owner, and whether the property to which such assessment applies is a governmentally-owned park. The City will levy and collect special assessments on an annual basis within the BID.
- The rates at which special assessment within the BID will be imposed for each calendar year are set forth in Appendix B hereto (which is incorporated herein by reference and which shall be annually adopted as amended as part of the ordinance approving and confirming the assessment roll). The city council finds that the benefit to the property owners, businesses and multifamily residential or mixed-use projects subject to the special assessment is a special benefit which would not otherwise accrue, but for the activities, programs and services carried out with the funds provided by the special assessments authorized pursuant to this chapter.
- Subsequent increases in the amounts of the special assessments for all flat-fee assessments at a minimum will be adjusted based on the increase, if any, of the Consumer Price Index of the U.S. City Average for all urban consumers (CPI-U). The percentage increase in the minimum assessment formula shall be computed as follows:
[(Ending CPI-U Beginning CPI-U) ÷ Beginning CPI-U] x 100 = Percentage Increase
- Any change in the assessment rate shall only be made by ordinance and as authorized in RCW 35.87A.130 through RCW 35.87A.140, including notice and hearing requirements. The ratepayer advisory board shall be consulted at least one month prior to providing notice of any proposed changes to the assessment rate.
Date Passed: Monday, December 6, 2021
Effective Date: Saturday, January 15, 2022
ORD C36151 Section 3
