The Bellevue City Council advanced an ordinance authorizing up to $50 million in bonds for continued construction of the Bellevue City Water Park. Council members waived the requirement for three readings. Several residents objected to the timing of the vote, saying they had not received enough notice. They also raised concerns about the project’s overall $110 million cost and its potential financial impact on residents. Council members said the bonds will be repaid through sales tax revenue rather than property taxes and argued the water park will serve as an economic anchor for Bellevue’s planned Good Life District.
Council members said the city will own the water park while a nationally recognized company will manage it. They shared that two hotels are already planning to build next to the project. It was stated that moving forward with the bond now is intended to protect the project from rising interest rates, which had increased by about 30 basis points over the previous three weeks. The city also plans to use a construction manager at risk contract to establish a set project price and limit the potential for construction costs to increase.
Meeting documented by Thara Michaelis
Read full meeting notes here
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Leah Wambui Keinama boasts a robust professional journey, commencing as a systems engineer and integrator within the software industry. In this capacity, she excelled in the conception, design, construction, and deployment of software systems, adeptly managing projects from inception to completion. Transitioning into the nonprofit realm, Leah directed her expertise towards enhancing food systems, with a particular emphasis on soil health, regenerative agriculture, and bolstering food accessibility while fostering resilient communities. Her repertoire includes comprehensive program design skills coupled with a profound commitment to community engagement. Leah's fervor for cultivating networks and forging meaningful connections underscores her dedication to advancing organizational goals.
