Bellevue Targets $300M in Sales Tax Revenue with Entertainment District Expansion
What happened
The city of Bellevue has entered into an exclusive negotiation agreement with Goldenrod Companies and American Resort Management regarding the next phase of the Bellevue Bay Entertainment District. This development involves roughly 35 acres of city-owned land and could include restaurants, retail, lodging, amusement attractions, and a dry park. The project is part of the city’s Good Life Project, which is anchored by the existing water park.
From ketv.com
Why it matters
An analysis by Creighton University economist Ernie Goss projects that the district could generate more than $300 million in sales tax revenue over a 30-year period. Mayor Rusty Hike stated that the partnership demonstrates how public investments can attract private development and support economic growth.
From ketv.com
Who's involved
- BellevueCity pursuing major private development partnership for the Bellevue Bay Entertainment District.
- Creighton UniversityProvided the economic analysis projecting the potential revenue generation of the district.
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The entities involved
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Bellevue
city in King County, Washington, United States
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Creighton University
private Jesuit university in Omaha, Nebraska, U.S.