1. Creating Conservation Funding in Chelan
May 22, 2018

2. Presentation overview
The Trust for Public Land – why we are here
City has done its homework – plan & vision
Asked for “technical assistance” for implementation
Completed feasibility research
Defined conservation funding options
Next potential steps
Questions & discussion

3. Conserving Land for People
The Trust for Public Land creates parks and protects land for people, ensuring healthy, livable communities for generations to come.
TPL Mission Statement
Ann right here in Chelan County
Over 375 staff working in 30 offices

4. The Trust for Public Land - Conservation Services
Jim presents: Plan, Protect, Create, and speaks high level to Fund re: federal affairs and ConFin – pass to David to intro ConFin on next slide

5. City of Chelan Comprehensive Plan – November 2017
Hot off the press – you’ve done your homework!
The Trust for Public Land has worked with the city and its citizens to craft a Greenprint that would guide future landscape protection work, including a possible conservation funding measure. If adopted by the city, then it may make sense to engage our conservation finance services in FUND to complement the work we’ve done in PLAN.
City of Chelan Comprehensive Plan – November 2017

6. Lake Chelan Community Open Space Vision
Protect water quality
Promote community health through increasing access to trails, parks, and the lake
Protect wildlife habitat
Preserve agricultural land
Now…funding for implementation.

7. Reliable process for successful ballot measures
Feasibility Research
Public Opinion Survey
Program Recommendations
Ballot Language
Campaign

8. Conservation Finance Feasibility Study
Funding Options
LTGO bonds
UTGO bonds
Property tax levy

9. Option #1 – LTGO bonds 9-year levy lid lift for debt service
City of Chelan LTGO Bond Financing Estimates
Bond Issue
Interest Rate
Maturity (Years)
Annual Debt Service
Assessed Value*
Mill Increase (per $1,000 AV)
Annual Cost/ $250K Home**
$1,000,000 4% 9
$134,493
$1,003,395,680
$0.1340
$34
$1,500,000
$201,739
$0.2011
$50
$2,000,000
$268,986
$0.2681
$67
$2,500,000
$336,232
$0.3351
$84
$3,000,000
$403,479
$0.4021
$101
*Chelan County Property Tax Summary Report 2018
**Average sale price = $294,370; median sale price = $210,000; March 2018 Chelan County Assessor Monthly Sales Reports. $250,000 is the example used in the City of Chelan’s budget.
9-year levy lid lift for debt service
Majority voter approval required
For example, a levy lid lift of $ per $1,000 assessed value could pay the debt service on approximately $1 million in LTGO bonds, which would cost the typical household about $34 per year over the 9-year levy

10. Option #2 – UTGO bonds
City of Chelan UTGO Bond Financing Estimates
Bond Issue
Interest Rate
Maturity (Years)
Annual Debt Service
Assessed Value*
Mill Increase (per $1,000 AV)
Annual Cost/ $250K Home**
$1,000,000 4% 20
$73,582
$1,003,395,680
$0.0733
$18
$1,500,000
$110,373
$0.1100
$27
$2,000,000
$147,164
$0.1467
$37
$2,500,000
$183,954
$0.1833
$46
$3,000,000
$220,745
$0.2200
$55
*Chelan County Property Tax Summary Report 2018
**Average sale price = $294,370; median sale price = $210,000; March 2018 Chelan County Assessor Monthly Sales Reports. $250,000 is the example used in the City of Chelan’s budget.
Must be approved by 60 percent of the voters, with a voter turnout equal to at least 40 percent of those who voted in the most recent general election.
For example, a $1.5 million bond would require a millage increase of approximately $ per $1,000 assessed value for debt service payments and cost the typical household $27 per year for 20 years.

11. Option #3 – Property tax levy
City of Chelan Property Tax Revenue & Cost Estimates
Mill Increase
(per $1,000 AV)
Assessed Value*
Annual Revenue
Annual Cost/ $250K Home**
$0.0500
$1,003,395,680
$50,170
$13
$0.0750
$75,255
$19
$0.1000
$100,340
$25
$0.1250
$125,424
$31
$0.1500
$150,509
$38
*Chelan County Property Tax Summary Report 2018
**Average sale price = $294,370; median sale price = $210,000; March 2018 Chelan County Assessor Monthly Sales Reports. $250,000 is the example used in the City of Chelan’s budget.
Majority voter approval required
For example, an increase of $0.1 per $1,000 assessed value would generate approximately $100,000 annually at a cost of $25 per year to the typical homeowner.

12. Property Ownership 34% 47% 19% 2,521 Housing Units 1,669 Occupied
852 Vacant
34%
1,192 Owner
Occupied
477 Non-owner Occupied
47%
19%

13. Public opinion survey Determine support for conservation funding
Test voter priorities/benefits/specific places
Sample ballot language
Fiscal safeguards, accountability elements
Find out best messengers & messages
Understand other community priorities
Good harbinger that school measures in Chelan County passed handily earlier this month!

14. We translate the public interest…

15. Next Steps Public opinion survey fielded
Survey results presented to community
Council considers referral to November ballot
When do you want to launch?

16. Thank you for your time! Questions?
For further information, please contact:
Dee Frankfourth, National Associate Conservation Finance Director
Jessica Welch, Senior Researcher