SeaTac-ILA-2 (2005) SR-509 Amendment No 3-1

Port of Seattle and City of SeaTac 2005 Interlocal Agreement (ILA-2) Entered into on February 16, 2006 In accordance with the provisions of the Port of Seattle and City of SeaTac Interlocal Agreement 2005 Interlocal Agreement (ILA-2), the Port and City hereby amend Section and Attachment C-1 of EXHIBIT C, INTERAGENCY COOPERATION & DEVELOPMENT COMMITMENTS, of the Agreement as follows (additions in underline, deletions in strikethrough): 5. TRANSPORTATION AND PLANNING 5.1 Definitions. 5.1.1 "Overruns"- means projects cost that exceed its respective budget allocated in the Joint Transportation Study (JTS) budget or as modified !::...L~!~~!::!:.~~-':::!:~~. ~~~~~~~ .... u summarized in Attachment C-1. .1.2 "Actual revenue" - means the parking tax funds collected by the City under Chap. 82.04 RCW. 5.1.3 "Forecasted revenue" -means an anticipated schedule of parking tax funds likely to be collected by the City as calculated by Berk and Associates and described in Attachment C-2. .1.4 "Corrective Action" - means an action taken by the parties to address the difference between the forecasted parking tax revenue and the actual parking tax revenue over each two year intervals subsequent to the adoption of this ILA. Depending upon whether the size of the actual revenue shortfall is more or less than 90% of the forecasted revenues, the parties may raise the amount of the parking tax, modify the CIP projects, or change the budget for certain CIP projects. 5.2 South Access. 5.2.1 Permanent South Access. 5.2.1.1 SR 509/South Access Roadway. The Port and City fully commit to and support the…

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1904 3rd Avenue, Suite 105, Seattle, WA 98101
Call to order – Roll Call – Quorum Established – Land Acknowledgement We would like to acknowledge that our Agency operates in four present-day counties, which are the traditional lands of the Coast Salish people, past and present. This acknowledgement does not take the place of authentic relationships with indigenous communities in our jurisdiction and [...]