|Bothell adopts infrastructure plan|
|Written by Don Mann|
|Monday, 29 October 2012 13:09|
ShareThe Bothell City Council recently adopted its 2013-2019 Capital Facilities Plan (CFP).
The CFP is a seven-year comprehensive financial plan and “needs assessment” that identifies and prioritizes funding for capital improvements such as facilities, parks, transportation and utility projects.
The approximately $212 million CFP involves more than 50 projects over the seven-year planning period.
The projects include, but are not limited to: Bothell Crossroads; a multiway boulevard from the west side of Northeast 183rd St. to Northeast 188th St.; Bothell-Everett Highway widening from 240th St. Southeast to 228th St. Southeast; SR 522 Stage 2A improvements from Wayne Curve to 91st Ave. Northeast, west city limits; Bothell-Everett Highway & 228th St. intersection safety improvements; City Hall construction phases one and two; First Lieutenant Nicholas Madrazo U.S. Marine Corps Memorial Park; Park at Bothell Landing; North Creek Trail (SR 527 from 214th St. Southeast to 500 feet south of SR 524; and Horse Creek improvements.
The capital funding for these projects comes from Real Estate Excise Tax (REET), grants, Local Infrastructure Financing Tool (LIFT) bond projects, transportation and park mitigation and impact fees’ utility user and facility fees and proceeds from the sale of surplus property.
Grants and mitigation funds account for more than 32 percent of CFP project funding.
“The Capital Facilities Plan is a long-term capital financing strategy that will have a positive and lasting legacy on our community by providing the city of Bothell the means to address infrastructure needs with capital-specific revenue sources,” Bothell City Manager Bob Stowe said. “This plan allows the city to turn its community vision into reality.”