Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council approves $26.57M bond package to fund Yelm Highway park and Armory arts center renovations
Summary
The council authorized a 30-year debt issuance estimated at $26.57 million to fully fund Yelm Highway Community Park Phase 1 and Armory Arts Center Phase 1 renovations; the package relies primarily on parks-dedicated revenue and a proposed 20-year extension of a half-percent nonvoted utility tax contributing about $270,000 annually to parks.
The Olympia City Council voted to authorize issuance of 30-year debt with estimated proceeds of $26,570,000 to finance two legacy parks and arts projects: Phase 1 construction at Yelm Highway Community Park and Phase 1 renovations of the Armory Arts Center.
Interim Parks, Arts and Recreation Director Silvana Niehauser presented the package and described the projects as "community backed, grant leveraged, and shovel ready." She said the combined first-phase cost for Yelm Highway Community Park (phase 1) and Armory renovations is roughly $46 million; staff plan to debt-finance about $26.6 million and use secured grants and prior investments to cover the remainder.
Phase 1 at Yelm Highway is described as a roughly $27 million project that would provide a full-size synthetic lit soccer field, playground, 13 pickleball courts (one…
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
