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Issaquah staff recommend renewing 8¢ park bond; present $23–24M package and higher-rate options
Summary
City staff recommended an 8¢ per $1,000 assessed-valuation park bond renewal generating an estimated $23–24 million for park development and stated two higher-rate alternatives (12¢ and 16¢) for council consideration; committee asked staff to publicize options, prepare maps and return with ordinance-ready materials.
City parks staff presented options for a potential park bond renewal to the Services, Safety and Parks Committee on May 5, recommending that the administration pursue an 8¢ per $1,000 assessed-valuation renewal as a continuation of the expiring bond and outlining candidate projects and higher-rate alternatives.
Parks Director Jeff Wadley explained that local park capital funding typically targets three areas—acquisitions, capital maintenance and development/redevelopment—and said that, based on current projections, REET (real-estate excise tax) revenues are expected to go into deficit in the 2027–28 biennium, reducing that revenue source for future park development. He described an administration-recommended 8¢ renewal that would fund an estimated $23–24 million package when combined with park-impact…
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