The City of Yakima re-established a Transportation Benefit District (TBD) in 2017 in accordance with RCW 36.73.050.
RCW 35.21.225 authorizes the legislative authority of a city to establish a TBD for the purpose of acquiring, constructing, improving, providing, and funding transportation improvements within the Transportation Benefit District.
Yakima City Council approved Ordinance 2017-033 to establish an annual vehicle license fee in the amount of twenty dollars per licensed vehicle in the City for the purpose of funding TBD eligible projects. Revenues generated from the annual vehicle license fee have been deposited into a Capital Fund comprising of revenues from other sources including property tax and general fund contribution per the City Charter amendment approved in August 2013. As a result of these other revenue sources, it is not easy to identify how much revenue is only attributable to Transportation Benefit District, which is restricted for the purpose of preserving maintaining, operating, construction or reconstructing the transportation infrastructure.
For the reasons mentioned above, Staff recommends the creation of a separate Transportation Benefit District Fund, Fund 344. Having a dedicated fund will improve accountability of these funds and minimize reconciliation between revenue collections and expended amounts. |