Stewardship fund to back Eastsound stormwater projects until fees are in place
Islanders can expect a new set of stormwater fees to be unveiled by the San Juan County Council sometime in July.
If approved, those fees would serve as a primary founding source for an estimated $6 million in improvement projects countywide over a 17-year span.
But in the meantime, the council, in a 5-1 decision, on Tuesday agreed to ask the Land Bank for a $2 million loan from its stewardship fund as a means to back the stormwater improvements projects slated for Eastsound over the next six. Councilman Kevin Ranker, South San Juan, voted against it.
Those 10 projects and a firm commitment to pay for them were touted two weeks ago by council members as key in convincing state officials that the boundaries and plans for the Eastsound growth area are – for the most part – good to go. Councilman Rich Peterson, chairman of the council’s stormwater subcommittee, said at the time that sanctions or penalties, like a temporary ban on building permits, could be imposed on the county unless a concrete financing plan for the Eastsound projects is put in place.
On April 14, county officials assured the Western Washington Growth Management Hearings Board that the projects would be funded through an internal loan as part of a progress report involving Eastound. In a unanimous decision, the council also on Tuesday adopted the so-called Rasmussen Plan, a guide to combating runoff in Eastsound over the long-term.
Whether the Land Bank board of directors will go along with the loan remains to be seen. County Communications Manager Stan Matthews said that the board, which oversees the agency and its budget, is under no obligation to grant the loan regardless of its connection to county government and could reject the request.
“Absolutely, they have veto power,” Matthews said. “They’re totally independent in a matter like this even though we’re all are part of the same family.”
The Land Bank relies on the stewardship fund to cover the cost of protecting, improving and managing the properties it purchases – and those that offer public access in particular. With each new purchase, a percentage of the cost is contributed into the fund to pay for management of that particular property. It operates as an investment fund and roughly $350,000 was drawn from it last year to pay for maintenance, administration and site enhancements; at the start of the year it totaled roughly $3.4 million.
Land Bank Director Lincoln Bormann expects the loan will be a hot topic when the commission meets May 16 at the Legislative Building in Friday Harbor. It would be new territory for the Land Bank, he said.
“I’m not really sure what’s going to happen at his point,” Bormann said. “I know the commissioners will be seeking a lot of input on it.”
However, Peterson said the loan may prove unnecessary if all goes according to plan. He hopes that the new set of stormwater fees will be in place and by next year they will have generated enough revenue to finance the first stage of projects. If not, loan payments, including interest would come from the county capital facilities account.
“If we work this right, we may not have to borrow anything,” Peterson said.
