Yelm gets new water rights to double the size of the city

+ The New York Times: Mortgage rates in the U.S. are at their highest levels since the 2008 financial crisis, cooling housing markets.

+ CNBC: Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession

• Editor’s note: This identical situation occurred in 2008, when Yelm was on the threshold of a building boom with major housing developments, only to have 2 of the largest go bankrupt in The Great Recession. Mortgage rates then rose as the housing market collapsed.
• The city spent money based on the projected income from home sales taxes, fees, which affected budgets for 10 years when the revenue did not materialize.
• Let’s hope the city keeps spending reigned in this time as we enter the 2022 recession.

City of Yelm Granted New Water Rights

From The Nisqually Valley News:

Under the new water rights, 2,100 gallons of water will be produced per minute. The new 942 acre feet per year will help create nearly 5,000 new water connections, according to Mayor Joe DePinto.

The 942 acre-feet per year provided in the new rights will help Yelm provide citizens with resources for the next 20 years, even as the city is expected to reach a population of nearly 20,000 by the year 2045.

Click here for Mayor DePinto’s video on the water rights acquisition.

Yelm’s planned Southeast Reservoir moves ahead – will improve the city’s fire flow storage

From The Nisqually Valley News:

Another item approved during the meeting was the authorization for Mayor Joe DePinto to sign a $352,800 professional services agreement with RH2, Inc. for design engineering services and bid-process support for the eventual construction of Yelm’s planned Southeast Reservoir.

The reservoir will improve the city’s fire flow storage if Yelm’s population increases further.

With water rights on the horizon, Yelm is set to enter into a period of rapid expansion. The improved fire flow storage and increased water demand that the expected growth will require in the southeastern portion of the city will be achieved by the reservoir, said Yelm Public Services Director Cody Colt during the meeting.

The project is expected to go out for bid in late summer 2022.

The proposed reservoir site is located at 17021 103rd Ave. S.E., just east of Walmart Boulevard Southeast.

“Public services is in the final stages of acquiring 1.39 acres of property on which this new, 1.55 million gallon reservoir will be built,” the meeting’s agenda documents stated. “The city has requested RH2 prepare a scope of work detailing the efforts needed to prepare the design, permitting, and bid-ready construction contract documents, along with the anticipated fee.”