Senate approves Public Works Trust Fund loans bill, three Clark County projects included

February 20, 2008

OLYMPIA…The Senate today approved the recommendations of the Public Works Board to provide low-interest loans to several cities and counties across the state. 

The following Clark County projects are included:

• Upgrade of the city of Camas wastewater treatment plant, $10 million. The remaining costs of the project will be covered by a Department of Ecology State Revolving Fund loan, sewer development fees and revenue bond proceeds. Total cost: $17.3 million.

• Road improvements necessary for the Salmon Creek Interchange at I-5 and NE 139th Street, $10 million. The project received a preconstruction loan in 2005. Other funds will come from federal and state transportation dollars, the county Real Estate Excise Tax fund, from traffic impact fees and county road funds.  Total cost: $125 million.

• Comprehensive Clark regional wastewater program upgrade, repair and expanded wastewater management system, $8 million. Other funds will come from local county reserve funds. Total cost: $13.4 million. 

“As the bill came over from the House, some jurisdictions would be paying a 1 or 2 percent interest rate,” explained Sen. Don Benton, who voted for the bill. “We amended the bill so that all projects would receive a 0.05 percent interest rate. I think this is only fair. The savings would amount to $73,000 per year in debt service, which means a lot to the taxpayers in smaller jurisdictions.”  

The measure, House Bill 2437, now goes back to the House of Representatives for concurrence in the Senate amendment. 

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Additional Contact: Penny Drost (360) 786-7522 or drost.penny@leg.wa.gov