Tumwater officials confirmed that there is still no clear timeline for the proposed New Market Industrial Campus development during the regular city council meeting on Tue., Sept. 7.
Initially, the city was scheduled to hold a public hearing for the approval of an Interlocal Agreement (ILA) between Tumwater and the Port of Olympia. The agreement will allow Panattoni, a California-based real-estate company, to lease 199-acres of the New Market Industrial campus.
Tumwater City Manager John Doan clarified that he is unable to provide a specific schedule for the project. He shared that while the Port had already sent a draft ILA, Tumwater has expressed some reservations about the agreement.
Some of their concerns include granting Panattoni a 20-year vesting agreement, an action that would prohibit the city from enacting any zoning changes in the future. In addition, the city shared that the potential location for the community center is unfavorable since the city preferred a site that is more accessible and closer to Tumwater Boulevard.
Doan confirmed that once the Port provides a new version of the ILA, they would discuss the agreement at the next city council work session, and schedule it for at least one public hearing. The city manager stated that the timeline would have to depend on how much time the Port would need to make the necessary revisions.
During the meeting, Tumwater City Councilmember Joan Cathey also asked who would pay for some of the costs for the development. While the city manager said that these details are still being worked out, he noted that Panattoni would still have to follow and pay the necessary permit fees that were indicated in the city’s municipal code.
In addition, the city manager also assured the council that they would hold an independent study on the potential income that the proposed development would have in the city.
“Some of the things have been a little bit askew,” Cathey agreed. She also shared that some residents were confused on how the Port was able to provide the numbers on the economic impact that the development would have, given that it would take years for the project to be completed. According to the Port, the project is expected to generate 1,200 to 2,000 jobs and contribute an estimated $354 million in economic production.