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PRCAC votes to ask county to invest Point Roberts TBD fund in full
Summary
The Point Roberts advisory committee voted to request that Whatcom County Public Works invest the entire Transportation Benefit District (TBD) balance and to provide documentation of the investment, after staff said invested funds could be accessed quickly and the fund balance stood at about $1.2 million.
The Point Roberts Community Advisory Committee voted Jan. 15 to ask Whatcom County Public Works to invest its entire Transportation Benefit District (TBD) fund balance and to provide documentation on the account and expected investment returns.
Chair (PRCAC) summarized conversations with county staff, saying the fund is currently around $1.2 million with annual spending near $10,000 and that Public Works — once asked by PRCAC — would complete the paperwork and the treasurer could place the funds into investment. The chair moved that PRCAC "go ahead and contact Elizabeth Cosa and work with Public Works to complete the paperwork required for Steven Oliver's office" to have the TBD fund invested in its entirety; members voted in favor.
Members noted that prior TBD spending included roughly $600,000 toward Johnson Road work, that invested funds can be withdrawn on a business‑day timetable if needed, and that the committee will request documentation showing the chosen investment vehicle and percentage return. One committee member observed the practical benefit: "We're gonna actually make money on our money," reflecting the group's preference to preserve and modestly grow the revenue stream rather than leave it idle.
The committee did not commit the fund to any specific capital project at the Jan. 15 meeting; members said detailed spending options and cost estimates would be developed only after the money is invested and the community has input on priorities. The chair said she will work with Public Works to complete the investment paperwork and obtain formal confirmation from the treasurer's office.
