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| The KID has a substantial amount of
commercial, industrial and agricultural lands. These lands were obtained
by the District for the non-payment of assessments in the early 1950s. |
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| It is the management of the “real
estate assets of the Kennewick Irrigation District to produce income
for current and future water users." |
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It is the District’s goal to
maximize and enhance the value of the properties whenever possible.
We achieve this goal by site planning, property lot designs and master
planning areas of land positioned for immediate development by potential
buyers. It is important to our ratepayers that the KID manages these
assets to their greatest potential. |
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The proceeds from the sale of real
estate go into an endowment established by the Board
of Directors. This endowment is designed to invest the proceeds
in bonds (a high security investment required by statute), while maintaining
the principal balance in perpetuity. The interest generated from these
investments goes directly to the Irrigation District’s Operation
and Maintenance. Ideally, over the next 10 years, the interest income
from the endowment will grow significantly, and it will directly benefit
the water users. |
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KID owns property throughout Benton
County, the City of Kennewick and the City of Richland. Two of the
busiest areas are Vista Field in Kennewick and City View/Stoneridge
in Richland. The KID is working with the City of Kennewick and the
newly created Public Facilities District to develop a site plan for
the new Convention Center and future hotel in the Vista Entertainment
District. The KID has developed a master plan in partnership with
the City of Richland for City View Commercial/Retail area and the
Stoneridge Industrial Business & Commerce Park located in Richland. |
