Lake Stevens City Council approves comprehensive plan addressing growth and development needs

During the recent State of the City Address on April 15, 2025, Mayor of Lake Stevens highlighted significant advancements and financial health of the city, emphasizing the importance of community engagement and responsible budgeting.

The Mayor began by outlining the various departments contributing to the city's growth, including police administration, finance, community development, and public works. He noted that the city has seen immense growth and accomplishments over the past year, which will be detailed in future communications.

A key focus of the address was the city's funding sources. The Mayor clarified that while residents often associate property taxes with city funding, these taxes are distributed among various entities. He pointed out that Lake Stevens has successfully transitioned to a financial model where sales tax revenue now surpasses property tax revenue, a positive indicator of the city's economic health.

The Mayor also shared encouraging news regarding the city's financial standing. Lake Stevens received a double A1 rating from Moody's during a recent bond measure for the city hall project, reflecting the city's strong financial management and adherence to updated policies and procedures. This rating allows the city to borrow funds at lower interest rates, ultimately benefiting taxpayers.

Another significant achievement discussed was the completion of the city's comprehensive plan, which began in spring 2023. This plan incorporates new state mandates and includes extensive public engagement to ensure community input. It outlines projections for population growth, housing, and employment over the next 20 years, serving as a roadmap for the city's future development.

In conclusion, the Mayor's address underscored the city's commitment to transparency, community involvement, and sound financial practices. As Lake Stevens continues to grow, these efforts aim to enhance the quality of life for all residents while ensuring sustainable development for years to come.