The City of Sammamish has the ability to provide financial support to developers to kick-start the Town Center (see following post). And there is a way to do so in a partnership, not an up-front gamble in today’s dicey marketplace.
The City’s current newsletter discusses the conservative approach taken by the City which avoided fronting infrastructure costs or land purchases for developers that would have stuck taxpayers with the burden following the September 2008 financial market meltdown and resulting global recession.
One of the issues facing the City Council as it begins its review of the regulations for the Town Center is whether to help finance elements of it to kick-start development.
This issue is not part of the Planning Commission’s regulations recommendations that will be under review beginning March 15 (see following post); this issue was deemed by the Commission to be beyond its scope of work.
As a former member of the Commission, and a long-time activist regarding land use and traffic issues, I was of the opinion going into the Town Center regulations process in early 2008 that the City should not contribute to financing TC stuff–this should fall to the responsibility of the developers under the “growth pays its own way” theory.