Tri-City Raceway sale for a new police department is heading to a photo finish

A deal to transform the defunct Tri-City Raceway into a new police station for West Richland is headed for a photo finish.

The Port of Kennewick commission agreed to most of the terms of a deal to sell the 92-acre site to the city of West Richland at its regular Tuesday meeting.

It left one key element unresolved: The price.

West Richland offered $1.25 million, its share of Benton County’s Rural Capital County Fund, which supports economic development across the county.

The port, which paid $1.75 million for it 11 years ago, isn’t sure the offer is enough.

The city wants the raceway on Highway 224 near Keene Road for a voter-approved police station, recreational facilities and economic development.

It would treat it much the way it developed the controversial Belmont property — install a city facility to anchor the property, then woo private businesses to build on the rest.

The port commission is waiting for an appraiser to give an opinion on its commercial value.

It was last appraised for $1.75 million in 2016 and the price is expected to be higher, with the caveat it won’t include water rights and presumes the raceway is removed first.

The new appraisal isn’t expected before Sept. 30. The commission will meet between Oct. 1 and 8 to discuss the value and if the city’s offer makes political and financial sense.

Mayor Brent Gerry says it does.

The city would buy the land and a small amount of water rights, leaving the port with nearly $1 million in water rights it could sell for other projects, Gerry said.

Also, the city would take on responsibility for demolishing the raceway and associated buildings.

And it would foot the bill to extend utilities to the site, saving the port millions in future development costs.

“My priority is to secure the property, build a police station and bring in infrastructure,” he told the port.

The clock is ticking for West Richland.

Voters approved a $12.5 million bond request in April for a new police station. The city wants to begin collecting property taxes for the project in 2020.

December deadline looms

But first, it has to secure the land, develop a bond package and get the whole thing certified for the tax rolls — all by the end of the year.

To make its deadline, it needs the land nailed down by early October so it can submit the project to bond underwriters by the second week of the month.

The underwriters need about 10 weeks. Then it goes to bond rating agencies. Then it is certified and put on tax rolls.

Gerry said the city wants to take advantage of the current low interest rates and can’t wait until next year to finance its new police station.

Commissioner Don Barnes opposes the deal, saying the port should stick to its plan to bank the property for future development.

He’s being outvoted by Commissioners Tom Moak and Skip Novakovich, who see an opportunity to support a city that overlaps with the port.

Red Mountain interchange ‘dead’

Also, they say there’s little reason to think the port will develop the West Richland property in the near future, thanks to an unexpected setback involving the long-anticipated Red Mountain Interchange.

Gerry said the Intestate 82 interchange project between West Richland and Benton City is “dead,” after federal officials apparently determined it is not needed.

Washington Department of Transportation officials were not available to discuss the status of the project Tuesday afternoon.

Moak noted the port already has held the land for more than a decade. Without the impetus of Red Mountain, it may not develop for years.

“Holding and doing nothing for 20 years is not promoting economic development,” he said.

Novakovich agreed, noting the city of West Richland is in a better position to promote development than the port, which is busy with its Vista Field and Columbia Gardens urban redevelopment projects.

This story was originally published September 25, 2019 at 5:00 AM.