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4 <br />Purpose of Review <br />The purpose of this report is to conduct an independent financial feasibility review for <br />Commerce on behalf of Kittitas County. Pursuant to RCW 36.100.025, the review must <br />examine the potential costs and the adequacy of revenues or expected revenues to meet the <br />costs to be incurred for the formation of a new PFD. As directed by State statute, Johnson <br />Consulting, as the preparer of this analysis, is to exercise independent professional judgment <br />in conducting the financial feasibility review. <br />Methodology <br />In order to conduct this independent feasibility review, Johnson Consulting performed the <br />following tasks: <br />1.Reviewed all documents provided by Commerce and Kittitas County, including documents <br />provided at commencement of the study, as well as others obtained from the County <br />throughout the study process. No additional independent research was conducted as part <br />of this independent feasibility review. <br />2.Reviewed costs to be incurred in relation to the formation of the PFD and capacity to fund <br />operating and costs and repay debt financing associated with the project. <br />Proposed Project <br />The formation of a county-wide PFD has been recommended by a partnership between the <br />Upper Kittitas County Community Recreation Center Alliance (a non-profit organization <br />representing Upper County communities), the City of Ellensburg (collectively, the “Project <br />Sponsors”), municipalities, Kittitas County and the Conference of Government have supported <br />by motion the financial feasibility review for the purpose of partially funding various large <br />recreation projects. Three projects, in various stages of development, have been identified to <br />date – 1). Upper Kittitas County Community Recreation Center; 2). Ellensburg Community <br />Fieldhouse; and 3). Kittitas Valley Aquatic Center. It is the intent that funds generated from a <br />voter-approved 0.2 percent sales taxes would support the projects in different ways and would <br />be allocated among the projects as determined by the PFD board of directors, once formed.1 <br />4 <br />1.KITTITAS COUNTY DOCUMENTATION FOR REVIEW OF PFD FORMATION (MARCH 2026)