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Proposed Projects <br />While a project budget has yet to be developed, City staff anticipate a total project cost of <br />approximately $32.5M. 1 3 <br />The project is proposed to be funded through bonds issued by the City of Ellensburg, <br />supplerrreltecl by furrdraising arrcl grants.13 Tlre proposed PFD lras been identified as a <br />potential financing partner to support operations, estimated to amount to $1.7M annually.l3 <br />Summary <br />Although the identified projects are in various stages of development, the intent is for the <br />proposed PFD to primarily supporl operating shortfalls via funds generated from a voter- <br />approved 0.2 percent sales taxes. Since this independent financial feasibility review relates to <br />the formation of the pFD by the County, no independent assessment is provided with regard to <br />the capital or operating costs associated with the proposed projects. <br />pursuant to RCW 36.100, the PFD, if formed, is required to seek project-specific independent <br />financial feasibility reviews prior to issuance of any indebtedness, or the longterm lease, <br />purchase or development of a facility owned by the PFD. The proposed projects are not <br />intended to be owned by, or cause indebtedness to, the proposed PFD. lt is anticipated that <br />the pFD will refine project and capital funding plans prior to requesting an independent <br />financial feasibility review relating to the issuance of any proposed debt. <br />a <br />I fl jU It[,,_]rJtijj:l'l ll: i r:r 13. t(l'l il.AS cot..rNlY DOCUl",lEt,tli\l lo[J FL)R RE\ lE\A/ OF Pl::D FORlvlAllON (l'1ARL]t-l 2-026)17