Yelm City Council approves agreement with Stowe Development and Strategies for $20,000

Yelm City Council unanimously voted to approve a professional services agreement with Stowe Development and Strategies, at a value not to exceed $20,000, for Bob Stowe’s services in assisting the City of Yelm discover incremental taxing options to collaborate with Blue Fern Development’s 640 acre property development.

Todd Stancil, Yelm city administrator, spoke to the council during the meeting and highlighted some of the key facts regarding the professional services agreement. He said Stowe will be involved around the process of negotiating a development agreement with Blue Fern Development, in addition to considering and working through the process, challenges and opportunities to create an incremental taxing district.

That tax district would fund the Southern Loop Boulevard and other associated infrastructure.

“These two tasks will guide the master planned development and fund critical infrastructure over the next 20-years or more. Due to the importance and significance of this opportunity, we would like to hire Bob Stowe, from Stowe Development and Strategies, to assist the city,” Stancil said. “The attached scope of services and proposed fee includes the negotiations of the development agreements for additional consideration of which incremental taxing option would be best suited for the city and this project.”

Additionally, Stancil said that a renewed agreement with Stowe for additional services may come forward in the future — depending on the type of work and assistance the City of Yelm needs after the initial contract is up.

“Bob has extensive experience in leading, managing, coordinating and implementing a wide variety of complex and multifaceted projects, including master plans,” Stancil said. “Bob has served as the prime consultant by 10 different cities to guide their taxing district programs.”

Councilor Brian Hess asked Stancil for some clarification surrounding the savings from the contract with Stowe, despite a $20,000 price tag.

“We would actually have to hire not just one additional person, but multiple people to cover what putting a contract with this individual, with his organization, would cost,” Hess said. “Is that correct?”

Stancil responded, saying Stowe provides a service that the City of Yelm finds is a “very unique skillset” in the world of incremental funding.
Additionally, Stancil claimed that Yelm’s city attorney, bond attorney and finance director were all encouraging Stancil and his department to reach out to Stowe. They believed that Yelm’s “interests are represented moving forward” under Stowe’s leadership.
“We’ve had several interactions with Bob up to this point, and all of which have been extremely helpful in getting the conversation going the right way for us,” Stancil said.