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Yacolt council discusses financing options to buy proposed community center
Summary
At a Feb. 19 special meeting, Mayor Ian Shealy and town staff outlined a proposed purchase recommended by the YCC Elders and discussed financing options that hinge on possible legislative capital funds; the clerk said REET and other town funds exist but a budget amendment and reimbursement timing must be resolved. No formal vote is recorded in the transcript.
YACOLT, Wash. — At a special Yacolt Town Council meeting on Feb. 19, Mayor Ian Shealy outlined a proposed purchase price and financing structure for a community center that the YCC Elders sent to the town, and council members discussed several financing options contingent on state funding.
Shealy told the council the town is hoping to receive legislative capital funds to help pay for the purchase and that staff is considering alternative financing structures depending on how much the town receives from the state. He said any purchase-and-sale agreement would include standard contingencies such as an appraisal and inspection.
Clerk Stephanie Fields said the town has funds available from REET (real estate excise tax) and other sources but that the purchase would require a budget amendment. Fields also noted that the state funds discussed would come as reimbursements, meaning the town would likely need to pay costs up front and be reimbursed later if the funding is approved.
Council members — Kim Glassett, Craig Carroll, Brandon Russell and Marina Viray — discussed possible structures to bridge timing or funding gaps depending on whether and how much legislative capital funding arrives. The transcript does not record a formal motion or vote on the purchase during the special meeting.
Next steps noted in the discussion include drafting a purchase-and-sale agreement with contingencies and preparing a budget amendment. The minutes include an incomplete administrative footer that reads "Approved by Council vote on" with no date or vote details provided in the record.
