Everett council advances $120 million outdoor event center, approves land acquisition and interim loan amid calls for more financial detail

The Everett City Council on April 29 approved a series of measures to advance the proposed $120 million Everett Outdoor Event Center, authorizing property acquisition (including eminent-domain authority for Parcel 26), contract amendments and an interim loan to cover near-term costs. The actions passed after hours of public comment that ranged from full-throated support to calls for fiscal caution.

Staff and consultants said the downtown venue is intended to anchor a growing entertainment district. "Our most recent update found the Everett Outdoor Event Center will generate business revenue of over $80 million a year, over 600 jobs and nearly a million dollars a year in combined city and county tax revenue," said Dan Ebersole, the city's economic development director.

Project consultants told the council the total project budget is holding at about $120 million with contingency reserves. "The project budget includes a little over 15% contingency in two separate buckets," said Ben Franz, a consultant on the project, adding that the two tenant teams have agreed to 30-year lease terms and that lease-related revenue was projected to support a large portion of long-term debt service.

Despite those projections, several councilmembers and public speakers pressed for more detailed, multi-year financial projections showing how expected revenues would cover debt service and what would happen if anchor tenants or additional funding did not materialize. "You're being asked to approve an additional $10.6 million ... without a financial projection that goes out five or even 10 years," said Scott Murphy, a former councilmember, asking that the council delay action until staff could deliver a thorough debt‑service projection and gap‑closure plan.

The council voted on multiple related items. Key outcomes included:

- Item 13 (amendment to accumulate design and partial acquisition costs in a special fund): passed, 6–1 (Councilmember Tuohy opposed).
- Item 14 (authorize acquisition including eminent-domain authority for Parcel 26): passed, 6–1 (Tuohy opposed).
- Items 15–18 (amendments and extensions to design-build contract and professional services agreements, and a $500,000 increase for Kimley‑Horn): each approved, with a pattern of council support and several 'no' votes from Tuohy on individual contract actions.
- Item 19 (acceptance of a Washington State Department of Commerce capital grant of $7.4 million): passed unanimously.

Supporters—including downtown business advocates and labor representatives—argued the stadium will generate foot traffic and jobs, and will be built under a project labor agreement. "A stadium downtown brings the one small thing every business needs: foot traffic," said Aaron Gilfoil, a downtown business consultant. Labor leaders emphasized apprenticeship and local hiring opportunities tied to the project.

Opponents questioned timing and residual financial risk. Councilmember Tuohy said the project is an appealing long-term vision but the city should secure more of the major financing pieces — a confirmed second anchor tenant, sizable reductions in the funding gap, and clearer bond terms — before committing more of the general fund or taking on loaned obligations. Tuohy framed his votes as expressions of fiscal caution rather than opposition to the project’s intent.

Council President Ryan said the council would reconvene the stadium fiscal advisory group before the final funding package and bond approvals return to the dais, calling that reconvening the "final off‑ramp" before full funding commitments.

What’s next: Staff said the city expects to pursue market financing late this summer and will replace interim city loans with permanent debt financing. The council will receive the fiscal-advisory review and final financing packages before the next major vote on the project.