RESOLUTION NO. 3627
A RESOLUTION   of the Port Commission of the Port of Seattle
amending Resolution 3626, adding the City of
Newcastle to the list of cities from which the Port of
Seattle opted out as a participating taxing district in
proposed local revitalization areas pursuant to
Chapter 270, Laws of 2009.
WHEREAS, the Washington State Legislature enacted Chapter 270, Laws of 2009 (the
"Act"), which permits eligible local governments to create revitalization areas and allows them to
use certain increases in local property tax revenues generated from within .the revitalization area,
including those otherwise accruing to ather taxing districts with jurisdiction over the
revitalization area, to repay bonds issued to finance local public improvements within the
revitalization area; and
WHEREAS, on July 28,2009, the Port Commission adopted Resolution No. 3626, opting
out as a participating taxing district in the proposed local revitalization areas of the cities of
Auburn, Bellevue, Federal Way and Renton, as authorized under the Act; and

WHEREAS, on July 17, 2009, the City of Newcastle notified the Po:? "Lhat it intellcis io
declare a revitalization area under the Act, but this notice did not come to the attention of the
appropriate Port staff until after adoption of Resolution No. 3626; and

WHEREAS, the notice from the City of Newcastle informed the Port that the earliest
possible date for the City Council adoption of an ordinance establishing a Local Revitalization
Area would be August 25,2009.
NOW, THEREFORE, BE IT RESOLVED by the Port Commission of the Port of Seattle
that:

Section 1.       Port Commission Resolution No. 3626 is hereby amended to add the City
of Newcastle to the list of cities from which the Port of Seattle opted out as a participating taxing
district in proposed local revitalization areas pursuant to Chapter 270, Laws of 2009.

Section 2.       Resolution No. 3626, as amended, is attached as Exhibit A to this
Resolution.

Section 3.       The Port's Chief Executive Officer is hereby directed to implementthe
provisions of Resolution No. 3626, as amended.

ADOPTED by the Port Commission of the Port of Seattle at a regular meeting thereof, held this
@ day of r2009 and duly authenticated in open session by the signatures of
the Commissioners voting in favor thereof and the seal of the Commission.

GAEL TARLETON
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0-        PATRICIA RAW
li                     Port Commission