Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lake Forest Park project team reports $12.9 million project cost, 62% funding gap at 70% design
Summary
City staff and the park design team presented a 70% design update for the lakefront park, reporting a $12.9 million total project cost, $4.87 million in secured funding and a remaining funding gap of about 62%; council asked for direction on whether to advance to 100% design or pursue selective reductions or bid alternates.
Lake Forest Park City Council heard a progress briefing July 10 on the lakefront park project and an updated cost estimate showing a total project cost of $12.9 million and $4.87 million in funding awarded or under contract, leaving a roughly 62% funding gap.
The update, delivered by Amber (design team presenter) with Corey (city project staff) assisting, said the project is at 70% design and that the latest construction-only estimate is about $8.9 million. When owner soft costs (design, permitting, staff time and other city expenditures) and a 10% construction contingency are included, the team estimates the full project at $12.9 million.
The reported funding picture includes $4.87 million already secured or contractually pledged, plus contingent potential funding such as up to $4 million from the King County Parks levy if the county measure passes and additional state or regional grants under consideration. The design team described…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
