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Committee reviews new System Development Charge funds, staff stresses strict restrictions
Summary
Staff explained SDC funds are for growth-related capital projects (new water meters, transportation capacity) and stressed the funds are auditable and restricted to listed projects; committee members discussed likely future projects and timing.
City staff reviewed newly established System Development Charge (SDC) funds and explained how SDC revenue can be used only for growth-related capacity projects, not routine maintenance.
Staff gave examples: a brand-new hotel or port-led riverwalk redevelopment could trigger SDC payments that fund transportation or utility capacity expansion. A staff member summarized: "The SDC is what essentially pay for the necessary infrastructure that new projects would create. The best way to think about it is growth should pay for growth." Committee members noted SDC revenue is modest now and will take time to accumulate before it can support multi-million-dollar projects; staff said SDC accounting options include transferring funds into public works project budgets under strict auditing.
