TRANSPORTATION AGENCY EXECUTIVE MEETING · Q4 Council considers ordinance to form LID Q4 City...
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1 TRANSPORTATION AGENCY EXECUTIVE MEETING May 15, 2018
Transcript of TRANSPORTATION AGENCY EXECUTIVE MEETING · Q4 Council considers ordinance to form LID Q4 City...
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TRANSPORTATION AGENCY EXECUTIVE MEETING
May 15, 2018
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WATERFRONT SEATTLE PROGRAM
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WATERFRONT SEATTLE
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PROMENADE PARK
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WATERFRONT SEATTLE FUNDING
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SPECIAL BENEFIT
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SPECIAL BENEFIT STUDY AREA
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SPECIAL BENEFIT: BY THE NUMBERS
• About $48.8 billion in total market value (before LID)
• About $415 million total in special benefit in the LID study area
• The City’s proposed total assessment is $200 million
• $200 million ÷ $415 million = 48.27% Assessment Percentage
− Commercial/Other: $175 million
− Condominiums: $25 million
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LID FORMATION PROCESS