Olympia and Lacey cities advance feasibility study for children's museum funding

In a recent special meeting of the Capitol Area Regional Public Facilities District, key discussions centered around the funding and feasibility of a new project aimed at establishing a children's museum in the region. The meeting, held on July 11, 2025, highlighted the financial mechanisms that will support this initiative, including a sales tax credit that is contingent on retail performance within the project boundaries.

The proposed funding structure involves a sales tax credit against the state portion of the sales tax, which is expected to yield approximately 0.0333 percent over a 55-year period. This extension of the original tax, which was set for 25 years, allows the project to maximize its financial resources. However, officials cautioned that the revenue is not guaranteed and is subject to economic fluctuations.

A significant point of discussion was the potential acquisition of land from the Port of Olympia for the museum. The port's ability to sell property was questioned, but it was clarified that the decision rests with the port commissioners. Importantly, a reversion clause was mentioned, indicating that if the land is not utilized for the children's museum, it may revert back to the port.

The meeting also addressed the necessity of a feasibility study, which is required due to the issuance of new debt for the project. This study aims to ensure that taxpayer dollars are utilized effectively and that the financial projections for the museum are sound. While the city of Lacey is also involved in a separate project, it was noted that they may not require a similar feasibility study unless they issue new debt.

As the project moves forward, the cities of Olympia and Lacey will conduct their own financial analyses to determine the viability of their respective initiatives. The outcomes of these discussions and studies will play a crucial role in shaping the future of the children's museum and its impact on the community.

In conclusion, the Capitol Area Regional Public Facilities District's meeting underscored the importance of careful financial planning and community engagement as the region looks to enhance its cultural offerings through the proposed children's museum. The next steps will involve finalizing the feasibility study and determining the financial commitments necessary to bring this vision to fruition.