Leroy Eadie

Spokane Park Board Approves Riverfront Park Master Plan & Bond Funding

Leroy Eadie, Parks and Recreation Services Director, No Phone Number Available

Friday, June 20, 2014 at 4:22 p.m.

It's been a busy two weeks for the Spokane Park Board culminating this morning in final approval of the 2014 Riverfront Park Master Plan and the bond funding to support it.

With strategic refinancing, the Riverfront Park plan proposes a refinancing plan that maintains taxes at the current rate.

Citizens now pay 34 cents per $1000 for assessed property value toward two previous Park Bonds. The 2014 Bond Proposal maintains that 34 cents, extends it out seven years, and leverages an additional $60 million investment in the Park of which $4.3 million would pay for debt service in the first five years of the Bond.

There has been no significant capital investment in Riverfront Park since Expo '74. With decaying infrastructure including bridges, power, mechanical, and irrigation systems, the Park is starting to show its age.

The Master Plan is the result of a two and half year process that has engaged more than a thousand citizens toward its development.

The Riverfront Park Bond now moves to City Council for their consideration and potential placement on the November ballot.

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