From the June City of University Place Headlines:
The City’s Current Circumstances
Unlike some other new cities whose capital infrastructure needs are driven largely by growth, much of the City of University Place is already developed. As a result, our needs are driven to a much greater extent by the tremendous capital deficit we inherited when the City incorporated. The City has identified over $200 million in needed improvements, plus associated maintenance and operation costs totaling over $2.5 million annually, if all of these capital initiatives were implemented.
Over the past nine years, the City has invested more than $50 million, or $5.5 million a year, in capital improvements such as streets, sidewalks, street lighting, parks, storm drainage and others. With the substantial reduction in State funding following the passage of recent initiatives, the annual capital expenditures will reduce to
$700,000 in 2006 and to $250,000 a year beginning in 2007. (June 2006, Page 3)