Parks

Waterfront Park – Image Credit: Seattle Parks (CC by 2.0)

On Monday, the Seattle City Council approved a resolution to create a local improvement district (LID) along the downtown waterfront by collecting $200 million from nearby property owners. Washington state law allows cities to raise money for LIDs by taxing the property owners who stand to benefit the most. The proposed district would extend from Belltown down to the stadium area and include a promenade, renovations to Waterfront Park, a new leading into Pike Place Market, as well as general infrastructure improvements. Under the plan, those with property closest to the improvements will be taxed more, and commercial property owners will share more of the burden than condominium owners.

At the meeting on Monday, the council heard protests from local property owners, many of whom disapproved of the tax’s focus on proximity to the new developments. The council ultimately decided that the eventual improvements would raise property values beyond the immediate cost, and that the proposed tax would not place an undo burden on middle-class property owners. The resolution passed in an 8-0 vote, with one member abstaining due to conflicting interest. It remains to be seen going forward if the LID will continue to meet with protest, or if the city’s project will go forward as planned over the next few years.