Friday, May 6, 2016
From the City of Lake Forest Park
The 2015 Lake Forest Park Transportation Benefit District Annual Report is online and available for review. Read the TBD 2015 Annual Report.
In 2015, the Washington State Legislature amended existing laws regarding Transportation Benefit Districts (TBDs). One of the amendments authorizes a city to assume the rights, powers, functions, immunities, and obligations of a TBD; essentially dissolving the separate TBD entity and allowing the city to step into its shoes, thereby reducing the administrative burden and costs associated with the TBD. In the case of Lake Forest Park, the estimated $4,000 savings was repurposed to carry out the mission of the TBD.
In November 2015, the Lake Forest Park City Council took action to dissolve the separate TBD entity and authorize the City of Lake Forest Park to assume the TBD.