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|Town Toyota Center Debt Dilemma
With so many options on the table, it comes as no surprise that officials from the nine cities and counties that helped build the TownToyotaCenter, can not agree on a single plan.
The nine government entities that make up the Greater Wenatchee Regional Events Center Public Facilities District; have been presented with several plans for paying off the $42 million debt that went into default on Dec. 1st.
Among the proposals, those of East Wenatchee Mayor, Steve Lacy, and the plan from DouglasCounty are being looked at the closest.
Mayor Lacy’s proposal calls for a .2 percent sales tax increase for all nine jurisdictions for 15 years, at which time the City of Wenatchee would then start paying back sales tax revenues that the other eight jurisdictions paid, plus interest.
Douglas County Commissioners have proposed a .2 percent increase for Wenatchee only, while East Wenatchee imposes a .1 percent sales tax increase while Chelan and DouglasCounties help make bond payments for one year, but the City of Wenatchee would pay those back.
Entiat Mayor, Mark Vradenburg admits both plans have its own set of hurdles.
Of the proposals presented, all would require a public vote and some would need approval from the state Legislature. In all scenarios, the city of Wenatchee would carry the largest burden."CLICK HERE" for Audio
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