The Federal Way City Council unanimously voted in favor of the 2015/2016 biennial budget, in which there were no new taxes and positions added in the Community Development, Public Works and the Police departments.

Mayor Jim Ferrell said the purpose of the budget was to spawn economic growth in the city.

“I’m really gratified that after months of work and collaboration we were able to get a great budget that truly reflects the priorities of the city of Federal Way for the next two years,” Ferrell said. “The city is hitting it on all cylinders.”

The biennial budget is $107.6 million in 2015 for all funds and $106.4 million in 2016. The General Fund is $42.3 million in 2015 and $45.0 million in 2016.

Ferrell announced this is the first time in years the city has been able to have a structurally balanced budget.

“We are adding key services to make sure our community needs are met, while at the same time being fiscally prudent,” Ferrell said. “This budget is truly a victory for the city.”

Since the city discussed their budget at the last meeting, they have received a Transportation CIP project grant at $363,200, a self-insurance claim totaling $635,000 and decided to purchase a vacant retail site for $8.2 million. The lot will serve as a new Town Center at the southwest corner of South 316th Street and 23rd Avenue.

The City Council said they will make payments of $64,000 twice a year for three years. Ferrell pointed out the city is not dipping into the biennial budget to pay for the site.

“We are not even dipping into our emergency reserves,” he said. “Getting this property was a bold move, but I believe it will be pivotal in creating job growth and revenue for the city. It’s a bold move, but it is my job to make sure we are taking charge of our destiny.”

The mayor pointed out the budget will use $700,000 in park development and mitigation funds to renovate the regional Lakota Park at Lakota Middle School. Plans to invest in the park were stalled during the last few years due to the Great Recession. Money will also be used for the parks maintenance crews, as they maintain more than 30 of the city’s parks.

New hires the budget allows the city to make include Tim Johnson, the Economic Development director and his supporting staff, and the future executive director of the Performing Arts and Conference Center. The budget accounts for $200,000 given toward specialized inspection and plan review in the Community Development Department and the hiring of three full-time employees in the building and planning divisions.

Public Works is receiving a new development services manager, a street systems manager, a surface water management inspector and maintenance worker. There will also be a snow and ice brine production and storage facility to improve snow removal in the city.

The budget also allows for the city attorney’s office to be restructured to include a domestic violence advocacy service, while the Finance Department will be able to add a full-time employee for various services.

“There’s a lot of growth happening in Federal Way and a lot of excitement occurring,” Ferrell said. “People are really starting to invest in our community and our future looks bright.”