City Council approves new six-year Capital Facilities Plan
Bothell City Council adopted the 2017-2023 Capital Facilities Plan (CFP) on Dec. 6. The $246 million CFP is a seven-year comprehensive financial plan and needs assessment that identifies and prioritizes funding for 58 capital improvements including facilities, parks, transportation, and utility projects.
The City updates the Capital Facilities Plan every two years. Project funding comes from revenues that are restricted for capital spending such as Real Estate Excise Tax (REET), grants, developer contributions, mitigation, impact fees, utility fees, Local Infrastructure Financing Tool (LIFT) bond proceeds and sale of surplus property. Grant funding accounts for 23 percent of CFP project funding.