Liberty Lake council reviews capital investment strategy, gap of about $13.5 million and financing options for possible library project

City Administrator Mark McAvoy and finance staff led a March 25 workshop with the Liberty Lake City Council to review the city’s capital investment strategy, show an estimated $13.48 million gap in the six‑year capital facilities plan and discuss how grants, taxes and debt could be combined to close the shortfall.

“This is going to be an ongoing dialogue,” City Administrator Mark McAvoy told council as staff moved from financing options to process recommendations. The meeting was a workshop; staff did not ask council to adopt any financing package on March 25.

City finance staff (Kyle, a city staff member) presented the revenue forecast and a six‑year list of projects that together total about $32.7 million. With currently secured revenues and funds projected for 2025–2030, the presentation showed roughly $18.5 million in available capital revenue and a remaining gap of about $13,482,000. Kyle said the gap assumes staff did not secure additional grants or change the project list.

Why it matters

The projected shortfall is material for residents because staff showed one plausible package that would use voter‑approved borrowing to finance an $18 million civic project: average annual debt service at current rates would be about $950,000 per year, equal to roughly $0.26 per $1,000 of assessed value and about $133 on a home assessed at $500,000. That example was illustrative, not a council commitment.

What staff told council

- General fund balance: staff reported the city began 2025 with about $8.5 million in the general fund (staff said that balance has historically averaged $4–$6 million). Kyle said the proposed $5.7 million library project at the Legacy Church site is currently reflected in the forecast and would consume a substantial portion of those funds if carried…