The Challenge: Address two of Spokane citizens' highest priorities—ongoing street improvement needs and an updated Riverfront Park—in an affordable way that gets citizens greater value for their dollar.
The Proposed Solution: A refinancing plan of existing debt that frees up money for significant new work at the same rate that citizens pay today for streets and parks.
The Mayor and Council President announced this proposal in early May. They compare the streets and parks funding proposal to refinancing a house, which allows homeowners to reduce their monthly mortgage payments and free up dollars for other household priorities.
Currently, Spokane's citizens pay 91 cents per $1,000 of assessed property value toward the repayment of three street and park bonds. With strategic refinancing, the dollars generated could be used to provide:
Accountability to our community would be provided by the Park Board and a citizen oversight group on transportation.
The next step is to get information to citizens about the proposal and have them weigh in. Citizens can provide feedback on the proposal by emailing email@example.com or by posting comments to this blog or @spokanecity on Facebook or Twitter.
And meetings are planned for:
Previous News Release and Blog about Street and Parks Funding Plan: