Kenmore council was scheduled to weigh budget amendments that would add a Lakepointe Fund

What the records say

The agenda packet for Kenmore's City Council meeting on November 12, 2024, listed proposed Ordinance No. 24-0617, which would amend the city's 2023–2024 biennial budget ¹. The item was scheduled as a public hearing (agenda item XIII.A) and, separately, for a vote on adoption later in the same meeting (item XIV.A), presented by Finance & Administration Director Melinda Merrell ¹. According to the ordinance and its attached '2024 Recommended Budget Adjustments,' the measure would adjust revenues and appropriations for the General Fund, KAPE, Public Art, Surface Water Management, and ARPA funds, and add the new Lakepointe Fund ¹. The Lakepointe Fund is shown receiving $2,240,000 in revenue—a $1,300,000 bond anticipation note, a $650,000 transfer from the General Fund, and a $290,000 transfer from Surface Water Management fees—with $2,148,789 in planned expenditures, including a $1,500,000 property deposit, $533,174 in consulting, and $115,615 in legal and other costs ¹. The agenda bill states that the separate ordinance formally creating the Lakepointe Fund was planned for the November 18 council meeting ¹.

• Proposed Ordinance No. 24-0617 would amend the 2023–2024 biennial budget and adjust revenues and appropriations for the General Fund, KAPE Fund, Public Art Fund, Surface Water Management Fund, and ARPA Fund, in addition to adding the new Lakepointe Fund ¹.
• The item was scheduled for a public hearing and, separately, for a vote on adoption at the same Nov. 12, 2024, council meeting ¹.
• Finance & Administration Director Melinda Merrell was listed as the presenter ¹.
• The proposed Lakepointe Fund would have $2,240,000 in revenue and $2,148,789 in planned expenditures—a $1,500,000 property deposit, $533,174 in consulting, and $115,615 in legal and other costs—funded by a $1,300,000 bond anticipation note, a $650,000 General Fund transfer, and a $290,000 Surface Water Management transfer ¹.
• Staff planned a separate ordinance formally creating the Lakepointe Fund for the Nov. 18 council meeting ¹.

Why it matters

The proposed amendment would move $650,000 out of the city's General Fund and $290,000 out of Surface Water Management fees into the new Lakepointe Fund, which would also take in a $1,300,000 bond anticipation note—$2,240,000 in revenue and $2,148,789 in planned spending, with the largest line item a $1,500,000 property deposit ¹. Staff planned to bring the separate ordinance that formally creates the Lakepointe Fund to the council on November 18 ¹. Analysis: Kenmore residents may want to track how public dollars are being reallocated—including which property the $1,500,000 deposit targets, which the supplied records do not identify—and what services or projects those transfers could affect before the 2023–2024 biennium closes.

What changed / what's next

• The proposed ordinance would amend the 2023–2024 biennial budget by adding the new Lakepointe Fund with $2,240,000 in revenue and $2,148,789 in expenditures, and by adjusting the General Fund, KAPE, Public Art, Surface Water Management, and ARPA fund budgets ¹.
• The supplied records do not establish the outcome of the Nov. 12 meeting, including whether the council adopted or amended the ordinance ¹.
• The agenda lists the vote on adoption of Ordinance No. 24-0617 after the public hearing in the same meeting ¹.
• The records do not identify which property the $1,500,000 deposit would go toward ¹.
• A separate item in the same packet, the Preliminary 2025–2026 Biennial Budget presentation, shows $1,685,000 in revenue and $1,745,500 in expenditures budgeted for the Lakepointe Fund in 2025, along with two Lakepointe-funded staff positions (a capital project manager and a two-year senior planner) ¹.
• The available records do not establish the meeting's outcome.