Public Financing Strategy

Paper Summary:

This paper, which is written in memo format, describes the Seattle Commons project that needs $218 million to proceed. The paper discusses the funding formula, which includes private donations and public sources and are highlighted in the paper. The paper recommends the formula to secure money from each of these various methods of public funding, including a special levy that requires voters' approval.

Table of Contents:
Subject
Purpose
Summary
Background/Discussion
Recommendations

From the Paper:

"State, county and federal monies are available for green space and transportation projects. The total potential is significant - $45 million. Acquiring funding from different levels of government for certain aspects of the project will not only appeal to council but will also help to convince them that the project has merit, and strong support from other quarters.
"A last option is to create a local improvement district. This generates money from increases in local property taxes."

Sample of Sources Used:

• Johnson, Gerry. (2005). New Life Emerges in the Wake of Seattle Commons Failure. Seattle Post-Intelligencer. Retrieved June 20, 2008 from http://seattlepi.nwsource.com/opinion/272622_focus04.html
• Jacobson, Arthur Lee. (1995). The Seattle Commons, an Editorial Opinion. Olmsted Parks. Retrieved June 21, 2008 from http://www.arthurleej.com/a-commons.html
• No author. (1995). The Commons: Time Line. Seattle Times. Retrieved June 21, 2008 from http://community.seattletimes.nwsource.com/archive/?date=19950911&slug=2141092
• History of Washington State votes from http://www.historylink.org/essays/output.cfm?file_id=7536
• Memorandum format from http://www-unix.oit.umass.edu/~pwtc/tw/memoformat.html

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