Title
Approval of a Resolution Accepting the Transportation Benefit District 2022 Annual Report
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the Resolution accepting the Transportation Benefit District 2022 Annual Report.
Report
Issue:
Whether to approve the Resolution accepting the Transportation Benefit District 2022 Annual Report.
Staff Contact:
Sophie Stimson, Transportation Director, Public Works, 360.753.8497
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
A Transportation Benefit District (TBD) is a quasi-municipal corporation and independent taxing district. It was created for the sole purpose of acquiring, constructing, providing, and funding transportation improvements within the district.
The Olympia City Council established a TBD in 2008. The boundaries of the TBD are identical with the City limits.
The City Council, or City Staff at the City Council's direction, shall issue an annual Transportation Benefit District report, pursuant to the requirements of RCW 36.73.160(2), as required by Olympia Municipal Code 12.14.020(D). The annual report indicates the status of transportation improvement costs, expenditures, revenues, and construction schedules to the public and the newspapers of record in the District.
As of December 31, 2022, the financial status of the TBD was $3,764,841 of available resources. This reflects an ending balance of $4,440,718 minus the financial commitments of $675,876 to cover approved capital projects. TBD funds are not required to be spent in the year they are received.
Climate Analysis:
In the Thurston Region, transportation is the second largest source of greenhouse gas emissions. One way to reduce greenhouse gas emissions is to make walking, biking, and transit more safe and inviting. When we build sidewalks and bike lanes, we make it easier for people to get around our city without a car. To the degree that high-qual...
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