City Council asks for public comment on funding for park, roads | News
The Spokane City Council is asking for public comment at their next two meetings to discuss placing proposed street levy and proposed bond for Riverfront Park on the November ballot.
Spokane Mayor David Condon and City Council President Ben Stuckart firs announced the streets and parks refinancing proposals back in early May. The proposals provide for significant new work for the community at the same rate that citizens pay today for streets and parks.
Currently Spokane citizens pay 91 cents per every $1,000 of assessed property value towards the repayment of three street and park bonds. With strategic refunding, the dollars generated from that same level of funding could be used to provide:
- $25 million annually for street funding and maintain the level of street work completed annually under 2004 street bond.
- $64.3 million for a one-time investment in Riverfront Park that upholds the park's master plan, which was developed with input from the public.
- The city would also pay off all remaining debt on the bond issues.
Currently that 91 cents is broken down like so:
- 57 cents to repay the 2004 street bond, with payments but no repairs scheduled through 2030.
- 34 cents to repay two park bonds, with payments but no park enhancements scheduled through 2027.
The street levy and park bond would be separate items on the ballot, and citizens would be able to make independent decisions on each one. Both items would be for 20 years.
If the levy and bond are placed on the ballot and passed, that same 57 cents would be matched and generate $20-25 million annually for street improvements including pavement condition, bicycle and pedestrian improvements, mass transit, utility infrastructure, storm water management, and economic development opportunities. The same 34 cents would provide more than $60 million to implement the new Riverfront Park Master Plan and still pay off the remaining debt from the 2007 issue.
The public will have two chances to give commentary at City Council – this first this next Monday, July 21 and the next on Monday, July 28.
City Council meets at 6 pm every Monday in Council Chamber in the lower level of City Hall, 808 W. Spokane Falls Boulevard.