At a City Council meeting this week, the $68 million spending proposal was approved by a 6-1 vote. If the voters approve, the average homeowner in Bellevue would pay $112 per year for a bond measure to acquire and develop parkland and a levy to maintain the parks.
The bond would be paid off over 20 years and nearly two-thirds of the money would be reserved to acquire land. City officials say that it is important to acquire land before it becomes too expensive. If the market rates on land go up too far, the city will have less of a chance to buy property for parks and new commercial and residential developments would be built instead of open space.
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