Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Olympia council approves tax-exempt bonds to fund Hands On Children’s Museum expansion
Summary
The City of Olympia adopted an ordinance on the consent calendar approving up to $25 million in tax-exempt bonds to finance an expansion of the Hands On Children’s Museum; staff expects a bond sale in September and estimates roughly $1.5 million in annual debt service secured by public facility district sales tax revenue and museum set-asides.
Olympia’s City Council approved an ordinance on the consent calendar Monday authorizing issuance of tax-exempt obligations of up to $25,000,000 to finance capital improvements for an expansion of the Hands On Children’s Museum.
The approval followed a public TEFRA (Tax Equity and Fiscal Responsibility Act) hearing during which city staff described the plan of finance, museum staff and volunteers urged support, and the council adopted the ordinance as part of its consent calendar. "We're here on to issue tax exempt bonds for the expansion of the Hands On Children's Museum," Finance Director Mike Giffens said during his presentation.
The expansion plan would double exhibit space from about 12,000 to about 24,000 square feet. The overall project budget is listed at $30,600,000;…
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
