The Downtown Park has been brought up in numerous discussions this year, during the park levy and now the mayoral election. I think there is a misconception that Redmond taxpayers are bearing the burden of funding this park, and that downtown developers and new residents are getting a free ride. Quite the contrary. Developer Impact Fees are projected to cover 45% of the park’s cost, while Redmond taxpayers through the general fund would be responsible for approximate 15% of the funding. The following is a breakdown of the funding sources for the Downtown Park.
Funding Source for Downtown Park
|
% of Total
|
Developer Impact Fees
|
45.0%
|
Business Tax
|
19.5%
|
General Fund – Redmond Tax Payers
|
14.2%
|
Real Estate Excise Tax (REET)
|
9.7%
|
WA State Grant
|
7.9%
|
Rental Income/Fees from previous tenants
|
2.9%
|
King County Parks Levy
|
0.5%
|
Interest Earnings on Allocated Funds
|
0.3%
|
Total
|
100%
|
By John Stilin, Redmond City Councilmember
As the state and federal governments make no money on their own, and merely use federal, state, county and city taxes to fund needs, wouldn't it be fair to say that the Redmond taxpayers did INDEED pay for the Downtown Park? Not only through our taxes to the city, but county, fuel, transportation, state sales tax and federal income tax?
ReplyDeleteThat being said, $30 MILLION dollars is still a lot of money for a park that has little parking, and at this time absolutely no artistic or cultural value.
Yes, we can park at the Transit Center; if we want to be fined for parking in a lot that clearly states you are not to park there unless you're using the park & ride. Sure, we can attempt to park downtown in between poorly timed traffic lights or peak trip hours. And certainly, we can pay to park in one of the paid parking spaces or the yellow and blue lot (which is managed by Diamond Parking of Seattle).
https://www.redmond.gov/cms/one.aspx?objectId=24851 and http://www.kingcounty.gov/transportation/kcdot/NewsCenter/NewsReleases/2009/July/nr070109_RedGarage.aspx
Just think, that 45% could have gone to expanding roads for the new cars that new development will bring.
ReplyDeleteMr Stilin, as one of Redmond's Counselmembers I'm asking several follow up questions to your post in the Redmond Neighborhood Blog today regarding the costs of the downtown park, and how much of the burden is born by the general fund. Like most in Redmond, I sincerely appreciate your service and continued engagement with these important issues. Please answer my questions here if you are able:
ReplyDeleteWhat will the total cost of the park be when completed, and how many dollars came from the general fund?
How many dollars did we pay for the central connector (taxpayers only)?
I've read that Redmond has spent 177 MM on growth infrastructure to date, and that only 4% came out of the general fund. That makes about 7 MM. Isn't that just about the same amount as the 2 failed levies?
Will this proportion of general fund contribution to growth continue at 4%?
Why is the general fund being used at all to support growth?
Do impact fees include anything earmarked for public safety?
Thanks again for your service and I hope you will find my Request and have time to answer my questions.
Jon Wilcox
The Video of the Study session in November has a presentation slide with actual dollars of income vs. expenditures; not percentages. I know several people on here were interested in DOLLAR amounts, not percentages.
ReplyDeleteNovember 10th Study Session, City of REdmond website, Council, Meetings http://redmond.granicus.com/MediaPlayer.php?view_id=2&clip_id=657