The City of Mountlake Terrace collected $22,037.40 during the summer from a new $20 license fee on vehicles registered in the city. The fee, approved by the City’s Transportation Benefit District (TBD) Board last January, went into effect with vehicles scheduled for license renewal starting in July.
The $20 fee is collected by the state’s Department of Licensing and is a portion of the total fee charged to vehicle owners when they renew their annual vehicle license tabs.
The city collected $356.40 from June revenues, $3,029.40 from July revenues, and $18,651 in August revenues. “Collected amounts increased significantly with August revenues, probably reflecting a rise in new vehicle purchases,” stated a Transportation Benefit District Board memorandum.
Revenues collected by the TBD fee can only be used for authorized transportation purposes within the district, which is the Mountlake Terrace City Limits. The TBD board members, consisting of the Mountlake Terrace City Council members, have already determined revenues collected will go primarily to improvements in the “Main Street Revitalization Project” of 56th Avenue from 230th to 236th Streets Southwest and 236th Street Southwest from 56th Avenue West to I-5.
Improvements planned in the Main Street project include street reconstruction, infrastructure upgrades, undergrounding of overhead utilities, bicycle lanes, wider sidewalks, improved ADA access ramps, energy-efficient street lighting and sidewalk trees, benches and bicycle racks.
The city estimates TBD vehicle license fee revenues will be $76,000 for the remainder of 2012 and $3.5 million over the next 20 years. TBD revenues represent just a portion of the funds needed to cover the $12 million cost for the city’s Main Street project, with additional revenues expected from other city funds and state and federal grants.