Everett council hears plan for $209 million in bonds to fund municipal and utility projects; approves two WPCF ordinances

Everett City Council members on March 5 heard a staff briefing on two proposed bond measures that together would allow the city to issue up to $28 million in limited tax general obligation (LTGO) bonds and up to $181 million in water and sewer revenue bonds to pay for municipal building work, a bridge replacement and multiple utility and riverfront projects.

The briefing, delivered by Heidi Boulantes, the city’s finance director, explained that the LTGO issue would be split into two series: one to reimburse costs for municipal building improvements and the Edgewater Bridge replacement, and a second sized to be repaid from local infrastructure financing tool (LIFT) revenues to fund Riverfront RDA projects including Eclipse Mill Park and the Lowell Riverfront Trail. The larger revenue bond would be repaid from the water and sewer utility fund and pay for projects such as the Port Gardner storage facility, West Marine View Drive combined conveyance improvements, the 30th Street combined sewer outflow control and the Water Pollution Control Facility (WPCF) headworks replacement.

“These have been planned funding sources for several years,” Heidi Boulantes said, describing the ordinances as the next step in financing projects already in the city’s capital plans.

Why it matters: The packages would let Everett begin or accelerate long-lived infrastructure work while spreading repayment over years to match who benefits. City staff said issuing bonds can be prudent when construction inflation and project timing make pay-as-you-go financing impractical.

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