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Snohomish County News

Posted on: November 22, 2019

Snohomish County Local Public Works Loan Assistance Program Awards $1.1 million

Contact:

Matt Phelps                                                        Fay Lim

Communications Specialist II                            Communications Supervisor

Matt.Phelps@snoco.org                                    Fay.Lim@snoco.org

425-388-3126                                                    425-388-6413




Snohomish County Local Public Works Loan Assistance Program Awards $1.1 million

Three local municipalities to receive loans for public works projects


EVERETT, Wash., November 21, 2019 – Fixing and upgrading infrastructure is the job of municipalities and public works departments. However, resources can be limited for smaller cities in need of funding. The Snohomish County Local Public Works Assistance Fund is designed to give critical loans to local cities at a low interest rate. This year Snohomish County is loaning $1.1 million to help three local municipalities complete projects.


“Cities within Snohomish County can leverage this money with local tax dollars to complete critical projects that might otherwise have to wait,” Snohomish County Public Works Director Steve Thomsen said. “We are the only county in Washington state using this funding tool afforded by the state legislature to provide a funding strategy for small but important projects.”


The 2020 loans come with a low 1.5 percent interest rate. This year Stanwood was awarded $973,920 to help fund the State Route 532 Flood Berm project; another loan will contribute $75,000 to the Camden Crest Sewer Lift Station #4 Abandonment project in Bothell; and $60,200 will go towards the Town of Darrington Water System Plan.


Snohomish County seeded the program in 2015 with $500,000. From 2015-2019, the program provided three loans totaling $900,000 to three separate jurisdictions. Those loans went to help with the replacement of a water line in Granite Falls; beacons and crosswalks in Bothell; and to help resolve a stormwater flooding issue near the ferry terminal in Edmonds. The result was the completion of $3.16 million in total project costs.


This year’s total more than doubles the amount loaned during the life of the program.


About Snohomish County Public Works

The Snohomish County Public Works Department constructs and maintains county roads; controls and manages surface water quantity, quality, and fish habitats; and oversees the recycling and disposal of solid waste. The department’s main office is located at 3000 Rockefeller Ave., Everett, WA 98201. For more information about Snohomish County Public Works, visit www.snohomishcountywa.gov/PublicWorks.

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