Good Afternoon to WRPA Executive Board, Exec Director, LEG Chair & Leg Committee, and LEG Distribution List:
I wanted to give you all a brief rundown of – and a chance to provide input on – the work that the state Recreation & Conservation Office (RCO) is doing in evaluating how to best deploy a one-time, $42 million sum of funds that is left over from a Stadium and Exhibition Center Account maintained by the state and used to pay off the bonds on the Seahawks Stadium approved by statewide voters many years ago. By law, the excess revenues no longer needed for the stadium go into a Community Outdoor Athletic Facility fund per RCW 43.99N.060. The fund bears some similarities to the Youth Athletic Facilities (YAF) account we benefit from today.