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Kennewick council reviews capital improvement funding as convention center moves forward
Summary
City staff told the Kennewick City Council on Feb. 25 that the cityhas built capital reserves and expects roughly $87 million in tax revenues for the CIP over six years, while noting $21 million in planned contributions to the convention center expansion and carryovers that will affect 2025 balances.
Kennewick City Council members heard a financial briefing on capital project funding during a Feb. 25 workshop as the city prepares to move from planning to design and funding on post-convention-center priorities.
The briefing, led by finance staff Jessica Platt, outlined revenue sources and projected uses for the city—s capital improvement program (CIP), and flagged planned contributions to the convention center expansion that will draw on reserve balances.
Platt said the city—s CIP receives revenue from taxes, state and federal grants, transportation and park impact fees, a new transportation benefit district sales tax, and miscellaneous revenues such as investment interest and rental income. "We are anticipating over the next six years collecting about $87,000,000 into the CIP for tax revenues," Platt…
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