Lynnwood council considers tax increment financing for city projects

Lynnwood, WALocal News

The Lynnwood City Council is actively engaged in discussions regarding tax increment financing (TIF) and the potential annexation of the former Alderwood Middle School property. At its April 7 work session, the council explored how TIF, approved into state law in 2021, could generate around $24 million for city projects by leveraging increased property tax revenues from a designated area. Consultant Bob Stowe emphasized that TIF funds can only finance public improvements and must adhere to state regulations. Meanwhile, the Edmonds School District is seeking to annex the property to expedite the construction of a new middle school, crucial for accommodating sixth graders in the 2028-29 school year. The council is set to vote on this annexation during its April 15 meeting.

These initiatives reflect the city's commitment to enhancing infrastructure and meeting educational needs. With the deadline for TIF ordinance approval approaching in June, timely decisions are essential for Lynnwood's growth and development. The council's actions could significantly shape the city's future in the coming years.

Related Articles

Art Beat PorchFest Edmonds, Stand Up for Driftwood, plus live music and theater - Lynnwood Today

PorchFest Edmonds will showcase local musicians on July 13 from 1-6 p.m. in downtown Edmonds. The event highlights community engagement through music and aims to bring people together.

Liberty Mutual Foundation renews 25K grant to Nourishing Network, bringing two-year commitment to 50K

The Liberty Mutual Foundation renewed a $25,000 grant to the Foundation for Edmonds School District, totaling $50,000 over two years for the Nourishing Network. This funding enabled the delivery of over 12,000 meals and served hundreds of children weekly, demonstrating the partnership's impact on food security.

Preservation work at 65 locations on Western Washington state highways begins July 14

Starting July 14, the Washington State Department of Transportation will begin highway repairs across 65 locations in King, Snohomish, Skagit, Whatcom, and Island counties. The work includes crack sealing and concrete panel replacement to extend the lifespan of highways and improve travel conditions. Nighttime closures and speed reductions will be implemented during construction.