In August 2010, the city of Olympia included the Isthmus Park in its revised Parks, Arts and Recreation Plan; it states that the Isthmus Park should be created as a public-private partnership. This means that the next steps in creating the Park will require the Foundation to work in close partnership with the city. We also plan to ask others, including the State of Washington, private foundations, and private individuals to come together in this effort.
The first task is to begin to work with current land owners to acquire the needed parcels. This may also require us to work with financial institutions and other entities that would be able to provide”bridge” financing until permanent financing can be arranged.
We believe that the initial tasks of acquiring the land and constructing a basic green space park can be accomplished for a cost between $15 and $18 million. As the city’s independent feasibility study concluded, this can be financed through a mix of private local fundraising, grants from state-wide and national foundations, and contributions by federal, state and local governments.