HomeMy WebLinkAboutCAG2024-496 - Original - Kent Downtown Partnership - 2024 Kent Downtown Partnership Main Street Agreement - 10/28/24 Agreement Routing Form
• For Approvals,Signatures and Records Management
KENT This form combines&replaces the Request for Mayor's Signature and Contract Cover Sheet forms.
WASHINGTON (Print on pink or cherry colored paper)
Originator: Department:
Rhonda Bylin Economic and Community Development
Date Sent: Date Required:
> October 16, 2024 October 18, 2024
0
Authorized to Sign: Date of Council Approval:
Q
❑ Director or Designee 0 Mayor n/a
Budget Account Number: Grant? ❑Yes 0 No
10004115.64190.1220
Budget? ❑Yes 0 No Type: N/A
Vendor Name: Category:
Kent Downtown Partnership Contract
Vendor Number: Sub-Category:
34231 Original
0
Project Name: 2024 Kent Downtown Partnership Main Street Agreement
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= Project Details: KDP partnership and liason services for Downtown business community
}, and the City to support a thriving community.
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E Agreement Amount: $117,933.13 Basis for Selection of Contractor: Other
IStart Date: Upon execution Termination Date: December 3, 2024
Q
Local Business? 0 Yes ❑ No*
*If meets requirements per KCC 3.70.700,please complete"Vendor Purchase-Local Exceptions"form on Cityspace.
Notice required prior to disclosure? Contract Number:
❑Yes El No
Date Received by City Attorney: Comments:
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10/16/2024
30
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p� Date Routed to the Mayor's Office: 10/15/2024
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Date Routed to the City Clerk's Office: 10/28/2024
adccW22313_1_20 Visit Documents.KentWA.gov to obtain copies of all agreements
ECONOMIC AND COMMUNITY
DEVELOPMENT
Kurt Hanson
Director
220 Fourth Ave S
440 18
Kent, WA 98032
1/C N T Fax: 253-856-6454
W A 5 H I N G T O N
PHONE: 253-856-5454
To: Gaila Haas, Kent Downtown Partnership (KDP), Executive Director
From: William Ellis, Chief Economic Development Officer, City of Kent
Date: October 15, 2024
Subject: Agreement for City Financial Contribution to KDP 2024 Mainstreet
Downtown Revitalization Program
The Kent Downtown Partnership (' KDP") is a Certified Main Street Program with the
Washington State Main Street Program and is participating in the Main Street Tax
Incentive Program ("Program"). The Program allows entities, including municipal
corporations, who make contributions to the designated Main Street Program participant
to take a 75% tax credit on their state business and occupation taxes or public utility
tax in the following year. Taking advantage of this tax incentive program would allow
greater opportunity for the Kent Downtown Partnership to expand their programs,
serving as a partner between businesses and property owners, residents, non-profits,
and the City of Kent to strengthen and develop a vibrant downtown.
The City Council authorized the Mayor to make an annual contribution to the KDP,
pursuant to an agreement which includes accountability measures, such as conditions
or restrictions on the use of the contributions, and a requirement that the Kent
Downtown Partnership provide the City with annual written reports accounting for the
use of the contribution and the benefits to the community. In accordance with City
Council's authorization, KDP shall use the City's contribution in accordance with all Main
Street Tax Incentive Program requirements as they currently exist or as amended. KDP
shall also provide the City with a simple written report at the conclusion of the 2024
Mainstreet Downtown Revitalization Program, no later than December 31, 2024,
accounting for the use of the City's contribution and the benefits provided to the
community through the program.
TERM: This agreement will be for the execution of the KDP's 2024 Mainstreet Downtown
Revitalization Program.
FINANCIAL CONTRIBUTIONS: The City shall contribute $117,933.13 through the
Main Street Tax Credit Incentive Program for the 2024 Program year. The City shall
disburse $117,933.13 to KDP as soon as reasonably possible, and not later than
November 13, 2024.
City of Kent Economic&Community Development
Accepted and agreed to:
Dana Ralph, Mayor, �ity o ' Kent
C --k-, ��- -- -
ail Haas, Executive Director, Kent Downtown Partnership
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City of Kent Economic&Community Development