HomeMy WebLinkAbout12-05-2005 ITEM V-DTY OF
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AGENDA BILL APPROVAL FORM
WASHINGTON
Agenda Subject:
Date:
Debt Write Off
November 9, 2005
Department:
Attachments:
Budget Impact:
Finance
Administrative Recommendation:
City Council to approve the write off of delinquent, current and deferred accounts receivable debt in
accordance with City policyin the total amount of $51,580.80.
Background Summary:
In 1998, Skills applied to the Washington Economic Development Finance Authority (WEDFA) for tax
exempt bonds to rehabilitate property at 715 30'" St. NE. WEDFA has a policy pertaining to the issuance
of tax exempt bonds and required the City to approve and support the project via resolution. The Council
passed a resolution supporting the project.
Furthermore, the project had certain impacts on City services and Skills entered into an agreement with
the City to make annual payments to offset those impacts from 1998 through 2008. Due to changes in
the law, Skills has notified the City they will not be making any more payments as of August 23, 2004.
Therefore, we request Council approval to write off $51,580.80 of delinquent, current and deferred
accounts receivable.
Delinquent/Current:
2004 $10,316.16
2005 $10,316.16
Deferred:
2006 $10,316.16
2007 $10,316.16
2008 $10,316.16
N1205-1
F4.12, F2.6.9
Reviewed by Council & Committees:
Reviewed by Departments & Divisions:
❑ Arts Commission COUNCIL COMMITTEES:
❑ Building ❑ M&O
❑ Airport ® Finance
❑ Cemetery ❑ Mayor
❑ Hearing Examiner ❑ Municipal Serv.
® Finance ❑ Parks
❑ Human Services EI Planning & CD
❑ Fire ❑ Planning
❑ Park Board ❑Public Warks
❑ Legal ❑ Police
❑ Planning Comm. ❑ Other
❑ Public Works ❑ Human Resources
❑ Information Services
Action:
Committee Approval: ❑Yes ❑No
Council Approval: ❑Yes ❑No Call for Public Hearing
Referred to Until—/—/—
ntil_/_/_Tabled
TabledUntil _/_/_
Councilmember: Backus Staff: Coleman
Meeting Date: December 5, 2005 Item Number: V.D
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