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EVERETT 2044 <br />COMPREHENSIVE PLAN <br /> <br /> <br /> <br /> 6/17/2025 <br />COMPREHENSIVE PLAN <br />TRANSPORTATION ELEMENT <br /> Page 129 <br />management statutes, which call for the provision of resources for capital facilities that relate directly to <br />growth. In Everett, a portion of these funds are used for the street overlay program. <br />Transportation Benefit District <br />Transportation Benefit Districts (TBDs) revenues are sourced from the motor vehicle licensing fees, <br />assessed when car tabs are renewed. Sales and use taxes generated from TBDs are a funding source that <br />can be applied to improvements from roads to sidewalks to transportation demand <br />management. Construction, maintenance, and operation costs are also eligible. <br />Fines <br />Fine revenue can come from sources such as traffic and parking tickets or ordinance violations. <br />Other sources <br />Interlocal Agreements (ILAs) <br />This revenue generally comes from outside agencies that have agreements with the City of Everett to <br />share costs for capital projects. This amount fluctuates based on the type and location of projects in the <br />City, but Everett has historically received an average of $70,000 a year. <br />Grants <br />Grants are usually competitive revenue sources, except for state and federal formula grants. The City <br />competes with other jurisdictions to receive each grant based on need, service population, project <br />potential and deliverability, and expected impact/value. Federal, state, and local agencies release grants <br />each year to help fund transportation projects, and hence this revenue source is highly dependent on <br />the grant opportunities available each year. Historically, there have been significantly more <br />opportunities (and available funding) in even than in odd years. Over the past ten years, approximately <br />50% of Everett’s transportation capital funding has come from grants. <br />Expenditure Sources <br />The City has an estimated $86.2 million over the next twenty years to pay for the transportation project <br />list. Historically, the City has secured an equal amount of money from grants to supplement this total, <br />bringing the total estimated funding to $172.4 million. Grant amounts can vary over time. <br /> <br />ESTIMATED REVENUE FOR TRANSPORTATION CAPITAL PROJECTS & PRESERVATION (2025 – 2044) <br />SOURCE ANNUAL REVENUE ESTIMATE <br />Revenue for Capital Projects $4,310,000 <br />Fund 119: Street Improvement Fund including: <br /> Program 524: Arterial Street Program and <br /> Program 612: Overlay and Preservation <br />$4,890,000 <br />Fund 157: Traffic Mitigation Fund $2,300,000 <br />POE Tr Fm Program 57 $20,000