City of Seattle Gregory J. Nickels, Mayor

NEWS ADVISORY
SUBJECT:   Nickels Announces Proposal for Land Sale Proceeds
FOR IMMEDIATE RELEASE:    1/14/2005  3:00:00 PM	FOR MORE INFORMATION CONTACT: Office of the Mayor  (206) 684-4000

Nickels Announces Proposal for Land Sale Proceeds
“Keeping Seattle Center strong is the best use of this money”

SEATTLE - Mayor Nickels today announced his proposal for the use of $22 million in proceeds from the sale of a Seattle Center-owned parking lot to the Gates Foundation.

“I am recommending that the proceeds of this sale be kept for Seattle Center purposes,” said Nickels. “My first priority is keeping Seattle Center, our city’s living-room, a vibrant place for people to visit. There are some significant capital and maintenance needs that have gone unmet. These are one-time funds, and a one-time opportunity to address those needs.”

The mayor believes that these funds have been generated by a sale of a Seattle Center asset and should stay with Seattle Center and not used for other city purposes.

Specifically, Nickels’ proposal would distribute the money into three categories:

• Hard Surface Repairs ($250,000) - Replace broken concrete and remove trip hazards throughout campus walkways.
• Centerhouse Interior Repairs ($2,500,000) Rehabilitate or replace north elevator. Restroom renovations. Electrical improvements. New merchant spaces to increase revenue generating traffic.
• Centerhouse Exterior Repairs ($2,500,000). Tuckpoint and seal exterior. Replace and repair windows. Repair entry awnings and adjacent covered walkway.
• Chilled Water Loop Renovation ($400,000) - Renovate chilled water piping system to maximize Central Plant cooling capacity and capture water conservation and energy savings.
• Open Space Improvements ($1,100,000) - Repair and rehabilitate World’s Fair era landscaping and grounds areas.
• Roof and Colonnade Repair ($900,000) - Repair aging roof over Seattle Center crew shops.
• Fountain Repair ($900,000) - Repair and overhaul systems and major equipment.
• Site Signage Improvements ($450,000) - Revised campus navigation and directional wayfinding with linked interactive kiosks located at key entry points to the grounds.
• Readerboard Replacement ($1,200,000) - Replace manual readerboards with electronic messaging system.
• Connectivity Improvements ($250,000) - Improve fiber and communication links to allow for more diverse facility rentals.
• Lighting Improvements ($750,000) - New campus lighting on grounds and in parking facilities to provide greater security for patrons and visitors along pedestrian routes and in parking facilities. (EIC recommendation)
• Customer Service / Emergency Phones ($250,000) - Installation of customer service and emergency communications phones in campus and parking facilities. (EIC recommendation)

$10 MILLION- DEBT RETIREMENT
Over the past three years Seattle Center’s financial difficulties have resulted in a debt of approximately $10 million to the city’s consolidated cash pool. These funds will be used to pay this off this debt. None of the proceeds will be used for any future operating costs at Seattle Center.

$4 MILLION- TWO-TO-ONE CHALLENGE GRANT FOR MCCAW HALL
This money will be used to help retire the debt on McCaw Hall. For every two dollars raised by the Ballet and Opera, from public or private sources, the city will match with one dollar, up to a maximum of $4 million. This will retire the remaining debt on McCaw Hall.

Nickels’ proposal is subject to City Council approval.

Get the mayor's inside view on initiatives to promote transportation, public safety, economic opportunity and healthy communities by signing up for The Nickels Newsletter at www.seattle.gov/mayor/newsletter_signup.htm.

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Office of the Mayor

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