Tipped Off
04-26-2007, 02:33 PM
AMIGA CENTER AT KENT RECIEVES FUNDING FROM LEGISLATURE
State Action Allows Creation of Local Public Facilities District
Seattle, April 26, 2007 - The City of Kent announced today that the Washington State Legislature passed a bill to finance just over one-third of the total cost for the Amiga Center at Kent - a 6,025-seat events center - by creating a Public Facilities District (PFD). The PFD will generate just over one-third of the approximately $67 million project with a credit against the state sales tax.
PFDs are municipal corporations with independent taxing authority and taxing districts under the state constitution, which entitles these entities to a share of the state's sales tax revenue at no additional cost to taxpayers. The Washington State Major League Baseball Stadium Public Facilities District, which oversees Safeco Field, is the only other PFD in King County.
"I am very proud to have led the effort to raise awareness about the need for economic development in South King County," said Senator Karen Keiser. "Working closely with my colleagues in the Senate and House we were able to build support for the Amiga Center at Kent, which will provide economic benefits for Kent, South King County and Washington State as a whole."
The legislation allowing the creation of a PFD to finance the Amiga Center at Kent received overwhelming support in the state legislature. The bill passed 85 to 13 in the House and 42 to four in the Senate.
"We worked very hard to get this legislation approved," said Representative Pat Sullivan. "As an early supporter of the project, I enjoyed working closely with the city and my colleagues in the House to help shepherd this legislation through. The economic benefits of this facility are compelling and I'm pleased that state legislators recognize the need for this type of venue in South King County."
"We are thrilled to have such strong support at the state level," said Kent Mayor Suzette Cooke. "Senator Keiser and Representative Sullivan were champions of our facility from the beginning and we thank them for their leadership and support. Passing this legislation brings us one step closer to making the Amiga Center at Kent a reality."
The estimated cost for the facility is approximately $67 million. The city plans to finance approximately two- thirds of the project's cost by issuing bonds, which would be paid back over the next 30 years. The remaining one-third of the project will be financed through tax savings. In addition, the city announced last week that it secured an unexpected funding source from the multi-media company Amiga. Amiga purchased the naming rights for the center for $10 million.
The Amiga Center at Kent has the potential to transform the community and the region while creating several hundred family-wage jobs and generating an estimated $50 million in tax revenues for the State of Washington over the next 30 years.
Groundbreaking Expected in Early Summer Pending Final EIS and City Council Vote
The Kent City Council has shown continued support for the project by allocating funds for the design and pre-construction planning phases of the project. Groundbreaking is expected in early July pending the issuance of the final environmental impact statement (EIS) and City Council's vote.
The proposed Amiga Center at Kent will provide an abundance of family-focused opportunities for recreation and enjoyment, as well as a sound economic investment for the city. A broad range of events including ice shows, concerts, car and truck shows, high school graduations, gymnastic tournaments, home and garden shows and the Western Hockey League's Seattle Thunderbirds will all have a home at the Center.
T-Birds season tickets are currently on sale for 2007- 08 at KeyArena. Fans purchasing 2007-08 season tickets will have the highest seating priority for the 2008-09 season as the Thunderbirds open the new Amiga Center at Kent. Priority can be established right now by calling 206-448-PUCK (7825) or for more information go to www.seattlethunderbirds.com
About the City of Kent
The City of Kent is the fourth largest city in King County with a population of more than 85,000. As a culturally rich destination, Kent's dynamic quality of life features captivating neighborhoods, award-winning parks, an exceptional school district, nationally accredited police, and internationally accredited fire departments. In 2003, Kent achieved the status Sportstown Washington by Sports Illustrated Magazine because of the variety of sporting events and attractions. Kent has experienced impressive economic growth, and is nationally known as a prime location for manufacturing. Learn more at: www.chooseKent.com.
About the Seattle Thunderbirds
The Seattle Thunderbirds' mission is to uphold the Western Hockey League charge of providing affordable family entertainment in the form of high- caliber, competitive hockey, and to develop players and staff in a positive professional direction. Establishing the Seattle Thunderbirds in this way makes a dynamic contribution to the Greater Seattle community. The Thunderbirds are dedicated to developing the players athletic, educational, and professional talents. For more information visit www.seattlethunderbirds.com
State Action Allows Creation of Local Public Facilities District
Seattle, April 26, 2007 - The City of Kent announced today that the Washington State Legislature passed a bill to finance just over one-third of the total cost for the Amiga Center at Kent - a 6,025-seat events center - by creating a Public Facilities District (PFD). The PFD will generate just over one-third of the approximately $67 million project with a credit against the state sales tax.
PFDs are municipal corporations with independent taxing authority and taxing districts under the state constitution, which entitles these entities to a share of the state's sales tax revenue at no additional cost to taxpayers. The Washington State Major League Baseball Stadium Public Facilities District, which oversees Safeco Field, is the only other PFD in King County.
"I am very proud to have led the effort to raise awareness about the need for economic development in South King County," said Senator Karen Keiser. "Working closely with my colleagues in the Senate and House we were able to build support for the Amiga Center at Kent, which will provide economic benefits for Kent, South King County and Washington State as a whole."
The legislation allowing the creation of a PFD to finance the Amiga Center at Kent received overwhelming support in the state legislature. The bill passed 85 to 13 in the House and 42 to four in the Senate.
"We worked very hard to get this legislation approved," said Representative Pat Sullivan. "As an early supporter of the project, I enjoyed working closely with the city and my colleagues in the House to help shepherd this legislation through. The economic benefits of this facility are compelling and I'm pleased that state legislators recognize the need for this type of venue in South King County."
"We are thrilled to have such strong support at the state level," said Kent Mayor Suzette Cooke. "Senator Keiser and Representative Sullivan were champions of our facility from the beginning and we thank them for their leadership and support. Passing this legislation brings us one step closer to making the Amiga Center at Kent a reality."
The estimated cost for the facility is approximately $67 million. The city plans to finance approximately two- thirds of the project's cost by issuing bonds, which would be paid back over the next 30 years. The remaining one-third of the project will be financed through tax savings. In addition, the city announced last week that it secured an unexpected funding source from the multi-media company Amiga. Amiga purchased the naming rights for the center for $10 million.
The Amiga Center at Kent has the potential to transform the community and the region while creating several hundred family-wage jobs and generating an estimated $50 million in tax revenues for the State of Washington over the next 30 years.
Groundbreaking Expected in Early Summer Pending Final EIS and City Council Vote
The Kent City Council has shown continued support for the project by allocating funds for the design and pre-construction planning phases of the project. Groundbreaking is expected in early July pending the issuance of the final environmental impact statement (EIS) and City Council's vote.
The proposed Amiga Center at Kent will provide an abundance of family-focused opportunities for recreation and enjoyment, as well as a sound economic investment for the city. A broad range of events including ice shows, concerts, car and truck shows, high school graduations, gymnastic tournaments, home and garden shows and the Western Hockey League's Seattle Thunderbirds will all have a home at the Center.
T-Birds season tickets are currently on sale for 2007- 08 at KeyArena. Fans purchasing 2007-08 season tickets will have the highest seating priority for the 2008-09 season as the Thunderbirds open the new Amiga Center at Kent. Priority can be established right now by calling 206-448-PUCK (7825) or for more information go to www.seattlethunderbirds.com
About the City of Kent
The City of Kent is the fourth largest city in King County with a population of more than 85,000. As a culturally rich destination, Kent's dynamic quality of life features captivating neighborhoods, award-winning parks, an exceptional school district, nationally accredited police, and internationally accredited fire departments. In 2003, Kent achieved the status Sportstown Washington by Sports Illustrated Magazine because of the variety of sporting events and attractions. Kent has experienced impressive economic growth, and is nationally known as a prime location for manufacturing. Learn more at: www.chooseKent.com.
About the Seattle Thunderbirds
The Seattle Thunderbirds' mission is to uphold the Western Hockey League charge of providing affordable family entertainment in the form of high- caliber, competitive hockey, and to develop players and staff in a positive professional direction. Establishing the Seattle Thunderbirds in this way makes a dynamic contribution to the Greater Seattle community. The Thunderbirds are dedicated to developing the players athletic, educational, and professional talents. For more information visit www.seattlethunderbirds.com