Report: LS Councilmember profited off Costco land deals

The Herald says Lake Stevens Councilmember Marcus Tageant likely pocketed a six figure fee on private real estate transactions related to the city's Costco development

The Costco site plan. City of Lake Stevens public record.

In the latest public relations blow delivered to the city by reporter Isabella Breda, the Herald reports that Councilmember Marcus Tageant likely pocketed a six figure fee for brokering a reported $4.2 million worth of real estate transactions related to the cities Costco development.

Tageant recused himself from Costco-related votes and he isn’t accused of wrongdoing in the matter.

However, one would be hard-pressed to call the issue a good look for the City of Lake Stevens, coming as it does on the heels of a series of stories detailing a public works department in turmoil, beset by management issues and internal conflict, saddled with fines and external investigations.

Tageant is a real estate broker who lives and works in the Lake Stevens area. He didn’t confirm the amount he made off the deal, but stipulated that it was a “top-ten” fee. Previously, Tageant hadn’t explained the reason for his recusal on Costco-related matters, citing non-disclosure agreements.

As previously stated, it isn’t illegal for a Councilmember to profit on matters before the Council, with a few caveats. Per the Washington State Code of Ethics for Municipal Officers (RCW 42.23) an elected official with a financial interest in matters before the council must: