2013 Transporation Benefit District (TBD) Semi-Annual ReportEdmonds Transportation
Benefit District
Semi -Annual Update
8/6/2 013
Edmonds Transportation Benefit
District (TBD) Semi -Annual Update
• Edmonds City Council forms TBD on November 18, 2008.
■ TBD Board enacts $20/year fee with Ord. No. 1 on February
17th, 2009 limiting the uses of funds collected to maintenance
and preservation of streets and related traffic control assets.
■ $640,944 collected in 2012 spent on maintenance and
preservation of City streets, including pavement repair &
maintenance, signage management, markings (buttons, curb
paint, etc.), crosswalks, and traffic signals.
■ $325,477 collected in first half of 2013 and $282,230 spent on
maintenance and preservation of City streets from January
through June, including pavement repair & maintenance,
signage management, markings, crosswalks, and traffic signals.
50.46% of budgeted revenue received year-to-date.
■ Need to address the ordinance to expand the list of eligible
expenses.
per.
Edmonds Transportation Benefit
District (TBD) —
— $650,000 budgeted for 2013 to come from gas tax for Street
maintenance and preservation. $50,000 less than in 2012. $265,256
received January through June.
— $120,000 budgeted for 2013 to come from gas tax for Street capital
projects. $40,000 less than in 2012.
— Prevailing elevated gas prices and a lackluster economy have lowered
gas tax revenue estimations.
— Total gas tax in Washington 55.9 cents/gallon (7t" highest) - fixed
— We estimate an additional """ E � is needed above and beyond
current funding levels to provide a sustainable street condition. This
does not include capital projects.
— The City has not paved any of its streets with its own General
Governmental resources since 2008. Deferring street maintenance is
costly. Repair can cost 2-3X as much once a road base fails. It is
equivalent to borrowing from the next generation
Questions?