Sumner moves money into development fund for sewer

Sumner is transferring $450,000 from the sewer operating fund to the Local Improvement District (LID) development fund.

Sumner is transferring $450,000 from the sewer operating fund to the Local Improvement District (LID) development fund.

The transfer is to provide cash flow for the LID fund and for costs resulting from the Stewart Road Utility Local Improvement District.

Deputy City Administrator Diane Supler said the LID fund is a financing mechanism allowing property owners to develop or improve their land.

This particular project is to improve the sewer system for property owners in that area.

The project was supposed to be completed along with a road construction project, but the project was delayed and money is owed for land acquired and the design of the project.

The LID development fund was originally provided with a $300,000 loan from the sewer fund, but as the project is proceeding, it’s clear the amount is insufficient.

Council members passed the ordinance granting the loan during theire Dec. 1 meeting. The ordinance became effective five days later and brings the total amount of the loan to $750,000. The ordinance states the loan must be repaid by Dec. 31, 2010, along with a monthly interest rate paid by the Local Government Investment Pool. The investment pool is a collection of money from cities. The pool covers the lost investment opportunity due to the loan.

Reach Chaz Holmes at cholmes@courierherald.com or 360-802-8208.

More in News

New group wants to elevate Enumclaw voices in county discussions

The Enumclaw Plateau Community Association will be meeting with King County’s Director of Local Services Saturday, Jan. 19.

Is there a Sasquatch in Bonney Lake?

Plus, a trainload of drunk pigs in Buckley, a dark tower in Orting, and secrets of Enumclaw’s Pie Goddess in Dorothy Wilhelm’s new book, “True Tales of Puget Sound.”

Handful of major project coming Enumclaw’s way in 2019

From street improvements to pool decisions and trail expansions, Enumclaw is in for a busy year.

Residents at SeaTac’s Firs Mobile Home Park received a closure notice for October 31, but most have chosen to stay in their homes. Photo by Melissa Hellmann
South King County coalition targets affordable housing

Rent and housing prices hit south end communities hard; SeaTac, Tukwila, Kent, Burien, Renton and Auburn are working to create organization like Eastside’s ARCH

Cascadia Pizza Co. baker Stephen Hendrickson checks his pizza while waiting for business outside Headworks Brewing to pick up. Unlike many food trucks, Cascadia customers can watch everything its bakers do, since the oven is located on the outside. Photo by Ray Miller-Still
New pizzaria opens on Griffin

Cascade Pizza Co.’s ribbon cutting is 11:30 a.m. Saturday, Jan. 19.

Microsoft will invest $500 million toward regional housing

Mayors of nine cities — including Auburn, Kent, Federal Way, Bellevue, Kirkland, Redmond, Issaquah, Renton and Sammamish — have pledged to help

National honor for Bonney Lake’s Mathew Hunt

Bonney Lake’s Mathew Hunt, who graduated from Washington State University with a… Continue reading

Buckley Youth Center arrangements made official

The City Council and the Youth Center have worked side by side for many years.

UPDATE: Pierce County burn ban lifted | Puget Sound Clean Air Agency

The ban was lifted Wednesday, Jan. 16 at noon.

Most Read