The Waterfront Park project will be built with state and city funds, private philanthropy and funding from a Local Improvement District. The Local Improvement District (LID) is only a portion of the funding. We are achieving a great waterfront without robbing from other city priorities through a diversified funding plan developed with broad public input over many years.
Those who benefit most pay more. Property values in the LID will increase as a direct result of the significant waterfront improvements and the LID will assess a portion of that increased value to help build the park. A LID is used to ensure that property owners who benefit financially from public infrastructure investments pay more.
Without the LID, the park project will not go forward. The park and public spaces will not be built, only a road with a wider sidewalk. Commercial uses will be dominate.
You can help by signing your name to this letter to the Seattle City Council urging them to move forward with the LID and make our Waterfront Park a reality!