Initiative 933 could cost state billions
A statewide property-rights initiative on the November ballot would cost the state, counties and cities $7 billion to $9 billion over the next six years, the state budget office estimated Wednesday.
That's enough to replace both the Alaskan Way Viaduct and the Highway 520 floating bridge, even by the latest estimates.
But that sky-high cost estimate for Initiative 933, from the Office of Financial Management (OFM), rests on a controversial assumption: It assumes the initiative would require governments to compensate landowners in every case in which regulations reduce property values — without the option of waiving the rules.
I-933 sponsor Dan Wood called that assumption "nonsense." He maintains the initiative would allow such waivers.
"The governor has come out against [the initiative]," said Wood, who is also the government-affairs director for the Washington State Farm Bureau. "These people work for the governor. It's shameful they're using taxpayer money to oppose the initiative."
Even opponents of the measure have characterized it as a "pay or waive" proposal. But I-933 doesn't specifically grant governments any new power to waive rules. It only alludes to an existing authority to do so. And land-use lawyers, representing a variety of clients, say that authority doesn't extend to regulations adopted to comply with such state laws as the Growth Management Act and Shoreline Management Act.
So that leaves compensation as the only alternative, they contend.
The OFM reached a similar conclusion after consulting with its attorneys, spokesman Hal Spencer said. If the underlying statute doesn't allow a regulation to be waived, "then governments can't waive it," he said.
In its fiscal analysis, prepared with help from other state agencies and the Association of Washington Cities, OFM said governments would spend money for new studies I-933 requires and for costs associated with processing claims.
But those expenses would be minor in comparison with the estimated cost of compensating landowners: $6.8 billion to $7.8 billion over six years.
All told, it is estimated I-933 would cost state agencies $2 billion to $2.18 billion, cities $3.8 billion to $5.3 billion, and counties $1.49 billion to $1.51 billion.
By law, the OFM's "fiscal impact statement" on I-933 will be included in the state voters pamphlet.
Aaron Toso, spokesman for the No On 933 campaign, said the OFM estimate "validates what we have known all along — that Initiative 933 is going to cost taxpayers billions of dollars."
Continue reading this article from the Seattle Times:
Initiative 933 could cost state billions, study says
