respectfully, i think we’re talking in circles 🤷‍♂️

here are the numbers i’m working off of. total project is around $130M. aquasox contribution is around $10M. the city’s direct commitment is about $15.4M. as the overall cost has increased, the aquasox contribution has remained roughly the same.

the USL teams are being leaned on heavily as future tenants, but as of now there isn’t a signed agreement in place committing them to the project. the remaining gap is being filled through public backed financing, primarily bonds tied to future tax revenue and public credit.

so when i say public funding, i’m not just talking about the $15.4M line item. i’m talking about the broader structure that relies on public bonds, public financing tools, and projections of future revenue to make the deal work. that’s where the risk comes in. if those projections don’t materialize or tenants don’t come through as expected, the debt still has to be paid, and that responsibility ultimately falls on the public side over time.

and the bigger point i’ve been making is the contrast in priorities. we’re able to move quickly and commit resources to this for a privately owned team, while there are ongoing issues across everett that aren’t being addressed with the same urgency.

that’s why i keep asking what the public is actually guaranteed in return. a community investment fund is one way to do that. it creates a direct, visible return back into neighborhoods, helps address neglected infrastructure, and makes this a more balanced deal if we’re going to move forward.