The City’s Transportation Plan defines capital projects and programs that meet ongoing operation and maintenance needs, add system capacity; improve safety; increase transit, pedestrian and bicycle mobility; support new growth; and meet ongoing operating and maintenance needs.

7-53    The City’s transportation funding plan will use a variety of tools to achieve balance and resilience, intended to generate revenues that are stable and flexible over the planning period and through economic market cycles, and that provide sufficient funding for the full range of project types and programs.

7-54    The City’s transportation funding plan will ensure that all transportation system users, including but not limited to visitors, commuters, residents, new development, institutions, and businesses (including property tax exempt organizations and entities), and freight pay an equitable share for transportation system development, operations, and maintenance.

7-55    The City’s transportation funding plan will generate sufficient capital and operations/maintenance revenue to cover the full life-cycle costs of priority projects, from initial construction to ongoing operations and maintenance, including depreciation. It will also cover programs and staffing required to successfully manage and accomplish projects with an explicit focus on near-term and priority projects.

7-56    The City will implement a transportation funding plan that is broadly supported by the community.

7-57    The City’s transportation funding plan will recognize that technologies will change in ways that affect costs and also change the City’s ability to monitor, use, and collect revenues. The transportation funding plan should consider funding for innovation and adaptation/inclusion of new technologies that may become available over time.

7-58    The City will regularly evaluate existing funding sources and explore the use of new funding opportunities to increase resources for maintenance operations and capital improvements.

7-59    The selection of transportation improvements to be funded within the City’s capital improvement program (CIP) will be based on the prioritized list of projects included in this TSP. The CIP is subject to public review and comment through a City Council public hearing process.

7-60    Funding for transportation infrastructure in expansion areas, as identified in the 2016 urban growth boundary (UGB) expansion, will be determined either before or upon area plan and/or master plan approval (unless exempted). Funding must be established prior to, or concurrently with, annexation. Transportation and infrastructure funding agreements will be memorialized for each expansion area property or properties in a development agreement as part of master plan or area plan approval and/or annexation. City/private developer cost sharing may be based on the following:

7-61    The City will continuously seek and leverage interagency and other outside funds whenever possible throughout the implementation of the 20-year TSP.