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TRANSPORTATION AGENCY EXECUTIVE MEETING

May 15, 2018

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WATERFRONT SEATTLE PROGRAM

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WATERFRONT SEATTLE

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PROMENADE PARK

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WATERFRONT SEATTLE FUNDING

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SPECIAL BENEFIT

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SPECIAL BENEFIT STUDY AREA

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SPECIAL BENEFIT: BY THE NUMBERS

• About $48.8 billion in total market value (before LID)

• About $415 million total in special benefit in the LID study area

• The City’s proposed total assessment is $200 million

• $200 million ÷ $415 million = 48.27% Assessment Percentage

− Commercial/Other: $175 million

− Condominiums: $25 million

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LID FORMATION PROCESS