Resolution 15511
RESOLUTION NO. 1551
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
EDMONDS, WASHINGTON, RELATED TO COMMUNITY
INVESTMENT IN THE HIGHWAY 99 SUBAREA AS AN
ALTERNATIVE TO PURCHASING THE LANDMARK PROPERTY.
WHEREAS, the Comprehensive Plan (including the PROS plan) and the draft Community
Renewal Plan recommend investment strategies to stimulate positive redevelopment in the
Hwy99 subarea; and
WHEREAS, a draft Community Renewal Plan (CRP) will soon be ready for Council
consideration and action; and
WHEREAS, under the draft CRP recommendations, Edmonds would be become a Community
Renewal Agency and would be able to unlock additional tools to stimulate redevelopment and
investment; and
WHEREAS, the draft CRP recommends engaging in a tax increment financing (TIF)
feasibility study for the corridor; and
WHEREAS, the draft CRP recommends that partnerships should be explored to achieve multi-
faceted benefits, including community priorities such as open space and a community center;
and
WHEREAS, these civic investments should be added to the CIP; and
WHEREAS, a pool of available funds to support community renewal investments in the subarea
would allow the City to act on opportunities as they arise, and can be used to further encourage
outside investments through grants and appropriations; and
WHEREAS, the City’s interest in the Landmark property was intended to stimulate positive
redevelopment in the Hwy99 subarea and to realize community priorities such as open space
and a community center; and
WHEREAS, the City’s current financial situation creates a prohibitive environment in which
to pursue this purchase; now therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, HEREBY
RESOLVES AS FOLLOWS:
Section 1. City’s Option to Purchase Landmark Will Not Be Exercised. The City’s
option to purchase the Landmark property will not be exercised. The city council
supports the mayor’s recommendation to cease immediate work related to the
Landmark property.
Se ction 2 . Future Comm itments to the Hwy 99 Subarea.
The City will demonstrate its continuing commitment to making future investments in the
Hwy99 subarea by pursuing the following courses of action in 2024 and 2025:
A. Monitor the Landmark site and, if appropriate, engage in discussions with current or
future landowners to identify potential opportunities;
B. The city council will consider the proposed designation of a community renewal area
in the Hwy99 subarea;
C. The administration should analyze the feasibility of using TIF to stimulate
investments within the Hwy99 subarea and return to the city council recommended
actions related to TIF; and
D. When feasible , the city should establish a Community Renewal Fund to fund
future investments in the Hwy99 corridor.
RESOLVED this 2nd day of July, 2024.
ATTEST:
~PASSEY
FILED WITH THE CITY CLERK:
PASSED BY THE CITY COUNCIL:
RESOLUTION NO.:
CITY OF EDMONDS
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MAYOR, MIKE ROSEN
June 26, 2024
July 2, 2024
1551
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