2014 Transporation Benefit District (TBD) Semi-Annual ReportEdmonds Transportation
Benefit District
Semi -Annual Update
8/4/2014
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
17t"1 2009 limiting the uses of funds collected to maintenance
and preservation of streets and related traffic control assets.
■ $340,369 collected in first half of 2014 and $358,436 spent on
maintenance and preservation of City streets from January
through June, including pavement repair & maintenance,
signage management, markings, crosswalks, and traffic signals.
■ The additional $18,067 in expenditures were eligible for
reimbursement from this funding source. However, due to
funding constraints, these expenditures were absorbed by Fund
111 - Street Fund.
■ 45.4% of $645,000 budgeted revenue received through June.
This keeps us on pace to meet 2014 Budget projections
Crack Sealing
Graffiti Removal
Asphalt Repair
Arm 'Now
Signal Maintenance &
Programming
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Edmonds Transportation Benefit
District (TBD)
— $645,000 budgeted for 2014 to come from gas tax for Street
maintenance and preservation.
— $115,000 budgeted for 2014 to come from gas tax for Street
capital projects. $5,000 less than in 2013.
— Prevailing elevated gas prices and a lackluster economy continue
to restrain motor vehicle fuel tax revenue estimations.
— Total gas tax in Washington 55.9 cents/gallon (7t" highest) — fixed.
— The City has not performed overlays of any of its streets with its
own General Fund resources since 2008. This year we will be
paving portions of 100t" Ave S (from Edmonds Way to 238t" St SW
and northbound lane down to 244t" St SW if funding is available).
— In 2014 the City will spend $73,750 on chip seal projects.
— We estimate an additional $1.6 ►nil'liot is needed above and
beyond current funding levels to provide a sustainable street
condition. This does not include capital projects.
Questions?