Community Government

City plans to buy 24 acres adjacent to Cushman Trail

The city of Gig Harbor hopes to close next week on the purchase of 24 acres of land off Burnham Drive, adjacent to the Cushman Trail.

The city plans to pay for the property by issuing a 10-year private placement bond for $4.2 million.

But city Finance Director Dave Rodenbach said the city can’t finalize the bond sale that quickly. So to comply with IRS regulations, the city council voted unanimously on Oct. 24 to authorize the city to reimburse itself through sale of a bond that will likely be issued in early January.

Final approval of the bond ordinance will take place Dec. 12.

The land is being purchased for “conservation purposes” according to Mayor Tracie Markley. The property is owned by Richard H. Shaw and David Warren Properties.

Third quarter budget report 

Rodenbaugh reported that the 2022 budget is “right on task” for the year. Sales tax revenue is up approximately 6.5% over last year, and the city “budgeted about 5% over last year,” Rodenbach said.

Because no large expenditures are in the works, Rodenbach anticipates that the city will come in under budget this year. That’s primarily because some “high paying” staff positions have not yet been filled.

Councilmember Brenda Lykins noted that money Rodenbach pulled from the local investment pool and put into higher-paying investments “has saved taxpayer dollars and brought in more income, so to speak, for the city. Kudos for that.”

Halloween decorations at the Gig Harbor Civic Center on Monday, Oct. 24.