Projects — TIB Funding Cycles
FY 2022 UAP Selections
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| Region: Puget Sound | Legislative District: 44 | Length: 0.40 mi. | FY 2022 Urban Arterial Program (UAP) |
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Existing Conditions"The Lake Stevens 2015-2035 Comprehensive Plan outlines the community's need for developments like the new Costco. Employment in Lake Stevens is less diversified across job sectors than neighboring communities of similar size. Lake Stevens has a high concentration of education-sector jobs, reflecting the City's residential orientation. If Lake Stevens grows into more of an employment center, then jobs would be expected to increase across sectors. One of the goals of the Comprehensive Plan outlines a policy to direct non-residential growth to the 20th St SE Business Corridor, and another goal is to enhance retail and personal services growth to address the community's needs and expand the City's retail sales tax base. Another goal outlines a policy to develop incentives to entice business to locate in Lake Stevens. Additionally, the City's 20th St SE Corridor Subarea Plan outlines a need for a complete multimodal transportation system that connects commercial, retail, civic and residential areas in a predictable gridded road system. This will be needed to accommodate planned growth within the area, and support the long-term vision for the corridor as a cohesive residential, retail and light manufacturing center." |
Project Funding
| TIB Funds | Local Funds | Total Costs | |
|---|---|---|---|
| Design | 0 | 0 | 0 |
| Right of Way | 0 | 0 | 0 |
| Construction | 3,000,000 | 8,891,000 | 11,891,000 |
| Project Totals | $3,000,000 | $8,891,000 | $11,891,000 |
Local Match
| TIB Participation | Local Match | Minimum Local Match |
|---|---|---|
| 25.2% | 74.8% | 20% |
Summary of Improvements
- "The new Costco development aligns with the goals and policies of the Lake Stevens 2015-2035 Comprehensive Plan by diversifying employment across job sectors, bringing approximately 275 new jobs to the area, directing non-residential growth to the 20th St SE Business Corridor, and enhancing retail and personal services growth and expanding the City's retail sale tax base. The completion of the larger 20th St SE Corridor road network also facilitates the 20th St SE Corridor Subarea Plan's vision of providing a complete multimodal transportation system connecting commercial, retail, civic and residential areas in a predictable gridded road system. This new roadway and planned connections to 20th St SE, SR 9 and S Lake Stevens Rd fully accommodate the anticipated increase in traffic to the area caused by the development and are required to meet City LOS standards, as shown in the attached traffic study."
Description of Improvements
"To address the City of Lake Steven's need for economic development as outlined in the Comprehensive Plan, the City of Lake Stevens has signed a development agreement with Costco Wholesale to construct a 160,000 square foot membership wholesale warehouse and fueling station on the southwest corner of 20th St SE and SR 9 in the 20th St SE Corridor of Lake Stevens. As part of the development agreement, this project is to construct a new roadway, 91st Ave SE (north-south segment) and 24th St SE (east-west segment), which will provide sole access to the planned Costco. This new roadway also satisfies the needs outlined in the 20th St SE Corridor Subarea Plan by completing a larger road network, and extending 91st Ave SE south of 20th St SE and connecting to SR 9 and S Lake Stevens Rd. In alignment with the City's multimodal goals, the new 30 MPH roadway will have 10-foot sidewalks and a 4-foot landscaped buffer, and allow for safe vehicle and pedestrian access to the new development. A transit stop is anticipated to be installed on 24th St SE after the project is constructed, once Community Transit has completed their needs assessment. The project also includes a realignment of a portion of S Lake Stevens Rd, which is in response to the proposed WSDOT SR 9 / 24th St SE roundabout project. Each of these street segments, and the roundabout, are critical links that support the transportation network around the redevelopment. S Lake Stevens Rd, however, is considered a noneligible cost due to the lack of sidewalks on this segment. The City has invested over $14 million so far into adjacent projects within the 20th St SE Corridor Subarea, including widening the 20th St SE corridor (between 75th Ave SE and 91st Ave SE), and the projects shown in Exhibit Z. The City has partnered with Lake Stevens Sewer District, Snohomish County PUD, the City of Everett, WSDOT and developers like Costco to fulfill these goals."