Spokane Park Board votes to support Riverfront Park master plan and Riverfront Park bond.
Leroy Eadie 509.625.6204
Friday, June 20, 2014 at 12 a.m.
The Spokane Park Board voted today to support the Riverfront Park Master Plan 2014 and a Riverfront Park Bond for $64.3 million. $4.3 million would be authorized to pay debt service in the first five years of the Riverfront Park Bond.
With strategic refinancing, the Riverfront Park Bond proposes that no new taxes be raised. Citizens now pay 34 cents per $1000 for assessed property value toward two 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.
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 Park Board is excited to see this community-wide effort continue to move forward. The Master Plan will inform future development of Riverfront Park for the next 20 years," says Randy Cameron, Spokane Park Board President, at a news conference announcing the approvals.
The Park Board sees the Master Plan as a living document that will be amended over the years for the continued managed growth and maintenance of the Park. Additional developments to the Master Plan will continue throughout the summer, specifically related to further refining of the business plan for an improved Park.
"Having a sustainable Park as we move forward is central to the Park Board. We want to see a financially sound and affordable Park that is also well-maintained and serves Spokane well into the future," says Cameron.
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 Riverfront Park Bond now moves to City Council for their consideration and potential placement on the November ballot.