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AGREEMENT BETWEEN THE CITY OF SEATAC AND THE <br />WASHINGTON STATE DEPARTMENT OF COMMERCE TO PROVIDE <br />LOCAL MATCHING FUNDS FOR THE SEA-TAC AIRPORT IMPACT <br />STUDY <br />This Agreement is entered into between the City of SeaTac, a municipal corporation hereinafter <br />referred to as "SeaTac," and the Washington State Department of Commerce, a state agency <br />hereinafter referred to as "Commerce," collectively referred to as the "Parties," for the purpose of <br />securing a commitment from SeaTac to transfer to Commerce $300,000 of local matching funds <br />((hereinafter referred to as "Matching Funds") for the "Sea-Tac International Airport Impacts <br />Study," hereinafter referred to as "the Study". <br />1. Background. The Washington State Legislature enacted Engrossed Substitute Senate Bill 6032 <br />during the 2018 Regular Session. Section 127(63) (hereinafter referred to as "the Proviso") <br />provides in part that, "$300,000 of the general fund —state appropriation for fiscal year 2019 and <br />$300,000 of the general fund —local appropriation are provided solely for the department to <br />contract with a consultant to study the current and ongoing impacts of the SeaTac International <br />Airport. The general fund —state funding provided in this subsection serves as a state match and <br />may not be spent unless $300,000 of local matching funds is transferred to the department." <br />2. Purpose. The Parties desire by this Agreement to secure a commitment from SeaTac to transfer <br />the full amount ($300,000) of the Matching Funds to allow Commerce to proceed with the Study <br />without delay. While the Parties acknowledge that other cities named in the Proviso (as listed in <br />Paragraph 4 of this Agreement) will contribute a portion of the Matching Funds, a delay in <br />negotiating a multi -party agreement would negatively impact Commerce's ability to complete the <br />Study by the intended completion date of December 1, 2019. Therefore, by this Agreement, <br />SeaTac accepts responsibility to transfer to Commerce the Matching Funds as detailed in the <br />Proviso, and by separate agreement will receive contributions from the other cities named in the <br />Proviso. The Parties intend that SeaTac shall serve as fiscal agent for contributions to the Study <br />from such other cities, with sole responsibility to collect any such funds. <br />3. Transfer of Local Matching Funds to Commerce. SeaTac shall transfer $300,000 to Commerce <br />representing the Matching Funds, through minimum installment payments on or around the <br />following dates: A minimum of one-third (1/3) of the Matching Funds payable at the time of <br />execution of this Agreement; an additional one-third (1/3) of the Matching Funds (totaling a <br />minimum of 2/3 of the Matching Funds) payable prior to January 15, 2019; and the remainder of <br />any unpaid Matching Funds payable prior to June 15, 2019. Such funds, in combination with the <br />State's general fund appropriation of $300,000, will be used for the purpose of financing the Study, <br />including Commerce's related staffing and administrative costs. Upon request, but not more <br />City of SeaTac/Dept. of Commerce (07/2018) <br />Page 1 of 4 <br />40 <br />