Friday, November 7, 2025
The Tumwater Budget and Finance Committee endorsed a financial services firm to help the city issue a bond for its new operations and maintenance facility.
The committee approved a letter to the city council on Friday, May 23, that calls for engaging with D.A. Davidson to provide the city with bond underwriting services.
As the underwriter of the planned bond offering, the firm will review and provide advice concerning bond options, develop a marketing plan for the offering, negotiate terms of the bonds, and assist in other related services.
City Finance Director Troy Niemeyer explained to the committee that the letter does not prevent the city from changing its decision about issuing a bond, and only signals the city’s intent to work with the agency.
The approval of the letter will be placed on the council’s consent agenda for its June 3 meeting. Once the letter has been approved, the firm will begin the work to develop financing proposals for the facility.
Niemeyer said the committee heard presentations from two qualified bond underwriting firms in August 2024; the other firm was Hilltop Security.
Both were deemed qualified, but city staff ultimately selected D.A. Davidson in part because as two key employees left Hilltop Security. Niemeyer also mentioned the city has an established relationship with D.A. Davidson, as it has been providing the city with debt financing services since 1991
The operations and maintenance facility is being proposed at the Trails End Arena property on 79th Avenue. The project is envisioned as a seven-building campus designed to support the city’s transportation, utility, fleet and park infrastructure.
The new facility would replace the city’s current operations and maintenance facility behind City Hall, as the existing facility is insufficient to meet the city’s growing needs, according to the city’s website.
City staff determined the need for relocating its current operations and maintenance facility in 2010, and selected the Trails End Arena property in 2014.
The city has been working since that time to address community concerns about siting the facility in a residential area as well as environmental regulations tied to the site.
According to the city’s website, designs for the project are almost complete except for an administration building (as of February 2025).
The city aims to begin construction by 2026, but would first need to have an approved Habitat Conservation Plan from the U.S. Fish and Wildlife Service, as the site is considered habitat for the endangered mazama pocket gopher.
Niemeyer also mentioned the city is looking to issue a bond for a water storage project.
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OlyBlues
Days ago I posted how the city of Tumwater was out of money to pay for core services and continues to beg it's citizens to fund transportation districts, park districts, and bonds such as this one to offset costs they cannot afford yet the council expressed interest in giving $30K in city tax dollars to refugee resettlement programs in the city. This article proves my point EXACTLY! The city must remain focused on paying for core services and keeping taxes low for residents.
Wednesday, May 28 Report this
Southsoundguy
Tumwater should be looking to issue bitcoin bonds.
Saturday, May 31 Report this
52237123abc
Now a bond? We families who live in the area of the proposed O&M have been told so many stories for the past 10 years!!!
First it needs to be said NO ONE wanted a maintenance facility in our neighborhood. Five neighborhoods will be affected by the traffic, noise and congestion. We fought this at every meeting but no one listened. (read highlighted Community Concerns above).
IT has been said we were "generally in favor" of this O&M which is not true. We were in favor of a park that we voted in favor of in 2018 ( The Metropolitin Park District tax) with the promise of a park on 79th and Arab Drive. Then we are told no park unless the O&M goes in and that funding for the park will be used on the O&M. In the mean time a park goes in using those funds at Kindred Park at The Preserve.
This was initially proposed in 2010. At least three times it has been redesigned and it still isn't final. Architects are expensive! For one thing it isn't big enough for any future growth. This has been expensive and a waste of our money already. Its a lost cause and now they are pushing a bond...and of course it will cost us to pay the company promoting the bond.
And of course....the Mazama Pocket Gopher is in this area. But the city seems to be able to move them where and when ever they choose.
I feel sorry for the E Street neighbors who are trying to get someone to listen to their concerns.
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Wednesday, June 4 Report this