TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Kelley Cochran
425-556-2748
DEPARTMENT STAFF:
Executive
Malisa Files
Chief Operating Officer
Public Works
Aaron Bert
Public Works Director
TITLE:
title
Transportation Benefit District Implementation Timeline and Formation Ordinance
OVERVIEW STATEMENT:
recommendation
In the 2023-2024 Biennial Budget, Council approved the formation of a Transportation Benefit District (TBD) to collect sales tax revenue to support transportation projects. Below is a description of the steps and timeline to form and establish governance of the TBD and a draft of the formation ordinance.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
2023-2024 Adopted Budget
* Required:
Transportation Benefit Districts are governed under RCW 36.73 allowing the City to establish a TBD and for the levying of additional revenue sources. RCW 35.21.225 authorizes the establishment of a TBD subject to the provisions in RCW 36.73.
* Council Request:
The TBD was approved as a new revenue source in the 2023-2024 Adopted Budget.
* Other Key Facts:
N/A
OUTCOMES:
Following a presentation by the prior Public Works Director on pavement management, staff recommended that the budget contain the formation of a TBD to levy revenue for transportation projects and maintenance. A TBD is defined as a quasi-municipal corporation and independent taxing district created for the sole purpose of acquiring, constructing, improving, maintaining, providing, and funding transportation improvements within the district. After budget deliberations, Council approved the formation and allocation of revenue from the TBD in the City's 2023-2024 Adopted Budget.
Formation and governance of the TBD requires two public hearings and seve...
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