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Council's TIRZ board approves amended plan to fund $1M Canyon Falls retaining-wall repairs
Summary
After a public hearing, the TIRS board and council approved amending the TIRS plan to include a $1 million retaining-wall restoration and to allow a general-fund transfer to start repairs, with payback to be repaid from TIRS revenue over an estimated 3-5 years.
At a joint TIRZ/TIRS board session during the July 10 meeting, staff presented evidence of erosion and water infiltration causing failures in the Canyon Falls trail retaining walls and recommended adding a $1 million repair project to the TIRS project and financing plan. Nathan (staff) explained the TIRS was created in 2015, covers Canyon Falls, and is funded by approximately nine cents of the town tax rate.
Nathan said the recommendation would allow the town to transfer $1 million from the general fund to TIRS to address urgent repairs; TIRS revenue would then repay the town with interest over an estimated three to five years. Canyon Falls HOA representative Todd Baek thanked the council for engagement and asked that terms ensure the HOA can continue ordinary maintenance and respond quickly to operational needs while long-term financing is clarified. Public commenters raised equity concerns about one neighborhood receiving substantial TIRS-funded amenities, and one resident urged the council to consider the tax incidence on other neighborhoods.
After the public hearing the board took action. Mayor moved to approve the amended project-and-financing plan; the motion carried 5-1 with one member absent. Council subsequently adopted a budget amendment enabling the transfer and authorized staff to proceed with engineering and contracts to begin repairs.
Quote: "This enables the town to transfer $1,000,000 from the general fund for the repair project," Nathan said, noting an expected payback period.
What happens next: staff will finalize engineering plans, proceed with the Hafen & Associates agreement for survey and design services, and coordinate terms with the HOA about maintenance and reimbursement schedules.
