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Council approves $500,000 amendment to state loan for SR 104/Fortieth roundabout; loan rises to $2.5 million
Summary
City staff told council the Washington State Public Works Board agreed to add $500,000 to a previously awarded $2 million loan for the SR 104 and Fortieth Place NE roundabout, raising the loan total to $2.5 million. Council unanimously adopted the amendment by resolution.
The City of Lake Forest Park council authorized the mayor to sign an amendment increasing the city’s Public Works Board loan for the SR 104 and Fortieth Place NE roundabout by $500,000, bringing the loan total to $2.5 million.
Why it matters: The additional loan funds are intended to cover higher-than-expected construction costs for the roundabout; the debt service will be paid from the…
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