Lake Forest Park Council approves $2M loan for roundabout project construction

Lake Forest Park officials have taken a significant step towards enhancing local infrastructure by approving a funding agreement for a major roundabout construction project. During the March 27, 2025, regular meeting, the city council unanimously adopted Resolution 25-2007, authorizing the mayor to sign a Public Works Board funding agreement with the Washington State Department of Commerce. This agreement secures a $2 million loan, which is part of a broader funding package exceeding $7 million for the roundabout project.

City officials highlighted the importance of this funding as they approach the end of the predesign phase of the project. The loan, awarded in September 2024, comes with favorable terms—a 20-year repayment period at an interest rate of 1.71%. The council emphasized the urgency of finalizing the agreement to ensure all funding is in place before the project goes out to bid, which is expected to happen soon.

In addition to the loan, the funding sources for the roundabout include contributions from the Washington State Department of Transportation, two grants from the Transportation Improvement Board, and support from the Lake Forest Park Water District. This comprehensive funding strategy aims to facilitate the construction of the roundabout, which is anticipated to improve traffic flow and safety in the area.

The meeting also touched on the Parks and Recreation Advisory Board, where discussions were held about expanding its membership. A proposal was made to increase the board from seven to ten voting members, including three youth advisory positions and the inclusion of business owners. This change aims to diversify perspectives and enhance community engagement in local parks initiatives.

As Lake Forest Park moves forward with these initiatives, the council's decisions reflect a commitment to improving infrastructure and fostering community involvement, setting the stage for future developments in the city.