HomeMy WebLinkAboutFS 2014-09-16 COMPLETE AGENDA PACKETCity of Tukwila
Finance and Safety
Committee
O Verna Seal, Chair
O Joe Duffie
O Kathy Hougardy
AGENDA
Distribution:
V. Seal
J. Duffie
K. Hougardy
D. Quinn
D. Robertson
Mayor Haggerton
D. Cline
P. McCarthy
C. O'Flaherty
R. Turpin
L. Humphrey
K. Kertzman
TUESDAY, SEPTEMBER 16, 2014 — 5:30 PM
HAZELNUT CONFERENCE ROOM
(formerly known as CR #3) at east entrance of City Hall
Item
Recommended Action
Page
1. PRESENTATION(S)
2. BUSINESS AGENDA
a. A lease agreement with Westfield Southcenter for the
a. Forward to 9/22 C.O.W.
Pg.1
Visitor Information Center.
and Special Meeting
Katherine Kertzman, Tourism Program Manager
Consent Agenda.
b. An agreement for shuttle services for Seattle Southside
b. Forward to 10/6 Consent
Pg.15
Visitor Services (SSVS).
Agenda.
Katherine Kertzman, Tourism Program Manager
c. 2014 2nd Quarter investment report.
c. Information only.
Pg.23
Peggy McCarthy, Finance Director
d. 2014 2nd Quarter miscellaneous revenue report.
d. Information only.
Pg.31
Peggy McCarthy, Finance Director
3. ANNOUNCEMENTS
4. MISCELLANEOUS
Next Scheduled Meeting: Tuesday, October 7, 2014
16. The City of Tukwila strives to accommodate individuals with disabilities.
Please contact the City Clerk's Office at 206 - 433 -1800 ( TukwilaCitvClerk (aTukwilaWA.gov) for assistance.
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City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL U��U�n�������U�
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Mayor Haggerton
Finance and Safety Committee
FROM: Katherine Kertzman, Tourism & Marketing Program Manager
Brandon J. Miles, Economic Development Planner
DATE: August 28, 2014
SUBJECT: Satellite Visitor Center
ISSUE
Seattle Southside Visitor Services (SSVS) requests approval to extend the lease space at
Westfield Southcenter to operate the satellite visitor center (VC).
BACKGROUND
In October of 2013, the City Council authorized SSVS to begin operating a satellite VC in a
kiosk at Westfield Southcenter Mall. The lease term for the kiosk was one year and the project
was intended to be a pilot p ject. The lease is scheduled to terminate at the end of September
2014. Staff is requesting to continue the pilot project and to extend the lease until June 50.
2015. On July 1, 2015 it is anticipated that the new Seattle Southside Regional Tourism
Authority will take over all operations of the Visitor Center.
It costs the City nearly $10,000 a month to operate the VC. The lease from Westfield is a
nominal $1 per year. The funding comes from lodging tax, not the City's general fund. Council
authorization is needed to allow the Mayor to enter into a new lease agreement that would
extend the lease until June 30, 2015. SSVS has adequate unused funds to cover the $30,000
cost in operating the VC through 2014. The Mayor's proposed 2015/16 budget recommends
providing lodging tax funding to fund the VC until June 30, 2015. It is anticipated that by July 1,
2O15thatthe8eatt|e3outhsideRegiona|TnuhsnnAuthohh//88RTA>vviUbeinapnsitionto
assume operations of the VC. The Mayor's proposed budget does not provide any funding to
operate the VC beyond June 30. 2015. If SSRTA is not in a position to assume operations of the
VC on July 1, 2015 the City will either need to cease operations of the VC or request that the
City Council provide additional lodging tax funding.
On August 27, 2014, the City of Tukwila's Lodging Tax Advisory Committee (LTAC)
recommended that the City continue operating and funding the VC until June 30, 2015.
DISCUSSION
This location has proven to be very beneficial to our traveling guests while increasing SSVS's
ability to market its local tourism businesses directly to the traveling public. The VC connects
hotel guests' shuttle riders with an onsite concierge service that provide assistance for their
travel related needs. It also serves airport layover travelers, tour groups, independent leisure
travelers as well as area residents looking for assistance for visiting family and friends.
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INFORMATIONAL MEMO
Page 2
Since this was a pilot project, SSVS staff has been tracking several performance measures to
evaluate the performance of the VC.
The following are some key data collected by staff:
1. Staffing the satellite VC requires 2.75 FTEs. Because this is a pilot project all VC staff
members are temporary employees hired through a staffing agency. All SSVS VC staff
members are crossed trained to work both VC locations (SeaTac and Westfield) and
have regularly scheduled shifts at both locations. Staffing hours were increased to
provide for more crossovers between shifts permitting staff to take breaks without
leaving the desk unstaffed.
2. Year to date the VC consistently fields over 4,000 questions monthly of which 1,500 or
more are defined as visitor inquiries and 2,500 are mall related questions. The average
cost per visitor inquiry is $7 per inquiry. SSVS focuses on increasing customer
satisfaction while continually working to reduce cost. Staff emphasizes learning and
adaptation as important to achieving this success. In March, all VC staff went through a
four week customer service and sales training program. Since then the number of
admission tickets sold and reservations booked have increased significantly. For
example, City Pass sales are up 104% second quarter amounting to $1,280 in
commission. In general, commission on ticket sales average 10% of the ticket cost.
Over time the commission on ticket sales will help to offset some of the staffing cost and
reduce the costs per visitor inquiry while providing enhanced guest services.
3. With Metro's Rapid Ride line now connecting Westfield Southcenter to Sound Transit
Link Light Rail, Sea -Tac International Airport and other connecting points, the VC will
begin selling Orca cards and providing a reloading station for current Orca card holders.
SSVS will receive a $1 processing fee for each Orca card sold. This will help reduce
operating costs.
4. Staff is working with mall management to improve signage to more clearly explain the
services offered at the VC. Reducing mall related questions overtime will improve the
VC's ROI, free up VC staff time to work on social media and other special projects and
improve job satisfaction.
The Seattle Southside Tourism Promotion Area Steering Committee is a self - selected group of
hoteliers in SeaTac and Tukwila who represent hotels with 90 or more rooms and who have
organized to support formation of a tourism promotion area (TPA). On April, 11, 2013 the six
member committee voted unanimously to support the satellite VC and is willing to assume all
costs and operations of the satellite VC once the TPA and a public development authority
(SSRTA) are operating and organizationally ready. SSRTA should be ready to assume
operations no later than July 1, 2015. The draft lease allows the City to terminate the lease with
30 -day's notice, thus providing flexibility in the event that SSRTA is able to assume operations
earlier than July 1, 2015.
FINANCIAL IMPACT
The total cost to operate the VC until June 30, 2015 is $90,000. SSVS has $30,000 dollars in
unspent funds within its 2014 Council approved budget that will be used to operate the VC
through the end of the year. Therefore, there is no additional budget request for this item
W:12014 Info Memos - Council ) Westfield VC Memo Aug 2014.doc
INFORMATIONAL MEMO
Page 3
needed in 2014. The Mayor's proposed 2015/16 budget will include $60,000 in lodging tax funds
to operate the VC until July 1, 2015. No general funds are proposed to be used to operate the
VC. If the SSRTA is unable to assume operations on July 1, 2015 the City will either have to
cease operations of the VC or request that additional lodging tax funds are allocated to support
its operations.
RECOMMENDATION
Council is being asked to authorize the Mayor to sign the lease.
The Finance and Safety Committee is being asked to forward this item to the Committee of the
Whole meeting for discussion on September 22, 2014 and then forward it to the Consent
Agenda of the Special Meeting that same evening to ensure approval prior to the termination
date of the current lease (9/30/14).
ATTACHMENTS
• Proposed Lease with Westfield Southcenter
W:12014 Info Memos- CouncillWestfield VC Memo Aug 2014.doc
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Contract No.:
SPECIALTY RETAILING PROGRAM
Short Term Lease Agreement
This Short Term Lease Agreement (this "Lease "), is dated as of October 1, 2014 (the "Effective Date "), and entered
into by and between the undersigned entity or entities, in its (or their) capacity as agent(s) for the owner(s) of the Shopping
Center(s) listed on Exhibit A, with offices at 2049 Century Park East, 41st Floor, Los Angeles, CA 90067 ( "Lessor ") and City
of Tuwikla, doing business as Seattle Southside ( "Trade Name "), with an address at 6200 Southcenter Boulevard, Tukwila,
WA 98188 ( "Lessee "). Lessor hereby grants Lessee the right to use that certain space more particularly described on Exhibit
A attached hereto (the "Premises ") in the Westfield shopping center(s) listed on Exhibit A attached hereto (each, a "Shopping
Center ", and collectively, the "Shopping Centers ").
NOW, THEREFORE, in consideration of the mutual promises hereinafter contained, and for other good and valuable
consideration, the parties hereto, intending to be legally bound hereby, agree as follows:
1. Premises and Permitted Use. Westfield hereby leases to Lessee the Premises for the sole purpose of
operating a tourism desk (provided all materials distributed or displayed shall be subject to Lessor's prior approval, not to be
unreasonably withheld) ( "Permitted Use ") under the Trade Name and for no other purpose, expressly conditioned upon all
terms and conditions set forth in this Lease. There may be no change in the Permitted Use of the Premises or the Trade Name
without Lessor's prior written approval, which may be withheld in Lessor's sole and absolute discretion.
2. Hours of Operation. Lessee shall be continuously open for business at each of the Premises in accordance
with the Rules and Regs (as defined below). Lesson and Lessee may agree to alter operating hours based on business demands.
3. Term. The term for this Lease for each of the Shopping Centers shall commence on October 1, 2014 and
shall expire on June 30, 2015 (the "Term "), unless earlier terminated as set forth in this Lease.
4. Intentionally Deleted.
5. Installation; Maintenance and Repair. Lessee shall install within the Premises, at its sole cost and expense, all
equipment, personal property, improvements and facilities necessary for the Permitted Use. Prior to such installation, Lessee
shall submit design plans and specifications to Lessor for approval. All work undertaken by Lessee or its contractors,
subcontractors and other agents in connection with the installation, operation and maintenance of its equipment, improvements
and facilities shall be undertaken and completed in a good and workmanlike manner by professional, licensed and qualified
personnel and contractors. Lessee, at its sole cost and expense, shall repair, replace and maintain in good condition all portions
of the Premises. Lessee may not make any structural alterations to the Premises without the prior written consent of Lessor.
Lessor shall not be responsible for any installation, alteration or maintenance of the Premises, nor shall it be liable for any
installation, alteration or maintenance costs and expenses whatsoever. Lessee shall ensure that the Premises maintain the same
standards of appearance and cleanliness as the remainder of the Shopping Center(s).
6. Lessee's Employees. Lessee shall ensure that all of its contractors, vendors, employees and personnel, if any,
at the Premises maintain a clean appearance and are at all times properly behaved and qualified and trained to carry out their
duties and responsibilities in accordance with all laws, ordinances and the rules and regulations for the Shopping Center(s) that
are attached hereto as Exhibit C and incorporated herein by reference (the "Rules and Regs "). Any violations by Lessee or its
employees, agents, vendors, contractors or subcontractor of the Rules and Regs shall be deemed to be breach of this Lease.
7. Lessee's Surrender of Possession and Restoration of the Premises. Upon the expiration of the Term or
earlier termination of this Lease, Lessee shall surrender possession of the Premises to Lessor and (i) restore the Premises to the
condition in which the Premises existed prior to installation of the Personal Property (as defined below), subject to
ordinary wear and tear, (ii) repair all damage caused by or in connection with Lessee's compliance with the obligations
contained in this Section, (iii) Intentionally Deleted; and (iv) surrender to Lessor the Premises, broom -clean and in good
condition. Any of Lessee's obligations under this Section which have not been performed by Lessee prior to the expiration of
the Term or earlier termination of this Lease shall survive such expiration of the Term or earlier termination of this Lease. If
Lessee fails to meet its obligations under this Section, Lessor shall restore the Premises to the condition in which the Premises
existed prior to installation of the Personal Property, and Lessee shall reimburse Lessor for its costs and expenses
related thereto within five (5) days after Lessor gives written notice to Lessee as provided in Section 19 of this Lease of
the amount due.
8. Disposition of Personal Property. Upon the expiration of the Term or earlier termination of this Lease,
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Lessee shall remove all of its merchandise, personal property, signs, sets, displays, equipment, telephone and data cabling
(collectively, and without limitation, "Personal Property") from the Premises and the Shopping Center(s). If Lessee fails
to remove all or any part of the Personal Property from the Premises prior to expiration of the Term or earlier
termination of this Lease, then Lessor, in its sole and absolute discretion may (a) declare that all or any part of the
Personal Property shall become property of Lessor, (b) sell or dispose all or any part of the Personal Property, and/or (c)
require that Lessee remove all or any part of the Personal Property immediately. To the extent necessary, Lessee hereby
absolutely and unconditionally gives, grants, bargains, sells, transfers, sets over, assigns, conveys, releases, and delivers
to Lessor all of Lessee's rights, title and interest in the Personal Property remaining in the Premises at the expiration of
the Term or earlier termination of this Lease. Further, if Lessor incurs any attorney's fees and /or costs for the
sale /disposal /removal of the Personal Property, Lessee shall reimburse Lessor for such attorney's fees and costs within
five (5) days after Lessor gives written notice to Lessee as provided in Section 19 of this Lease of the amount due. To
extent applicable, Lessee hereby waives and releases Lessor from any notice obligations under applicable law relating to
the Personal Property, including but not limited to notice of any sale /disposal /removal of the Personal Property. Any of
Lessee's obligations under this Section which have not been performed by Lessee prior to the expiration of the Term or earlier
termination of this Lease shall survive such expiration of the Term or earlier termination of this Lease.
9. Indemnity. Lessee shall defend (with counsel reasonably satisfactory to Lessor), indemnify and hold harmless
Lessor, its agents, affiliates, partners, members and employees from and against any and all liabilities, claims, demands,
damages, expenses, fees, fines, penalties, suits, proceedings, actions and causes of action of any and every kind and nature (i)
arising from or in any way connected with the Permitted Use, or (ii) arising from or in any way connected with Lessee's use of
the Premises, or (iii) caused by Lessee or any of its affiliates, members, employees, subcontractors, contractors, agents and
representatives, excepting any liability or claim caused by the gross negligence or willful misconduct of Lessor or its
employees. The obligations of this Section shall survive the expiration of the Term or earlier termination of this Lease.
10. Compliance with Laws; Permits. Lessee agrees that it has read and understands the Rules and Regs and shall
abide by and shall cause its employees, agents, vendors, contractors or subcontractor to abide by the same, as such Rules and
Regs may be amended from time to time by Lessor. Any conflict between the terms of this Lease and the terms of any Rules
and Regs, the terms of this Lease shall control. Lessee further agrees, at its sole cost and expense, to comply with all present
and future laws, ordinances, orders, rules, regulations and requirements of all governmental authorities having jurisdiction over,
affecting, or applicable to the Premises. Lessee represents and warrants that Lessee has obtained, or will obtain prior to the
commencement of its business operations, at its sole cost and expense, any required permits, authorizations, consents and
approvals of any type or nature from the appropriate governmental authorities for use of the Premises for the Permitted Use, to
the extent necessary (the "Permits "), and all of such Permits are, or will be, and will remain in full force and effect during the
Term. Lessee shall provide copies of such required Permits to Lessor upon request.
11. "As -Is "; Release. Lessee acknowledges that it has inspected the Premises (or will inspect the Premises prior
to commencement of its business operations), observed no dangerous conditions, accepts the Premises "as is ", and assumes all
risk of injury or damage to Lessee's person or property, in connection with Lessee's use of the Premises regardless of the
condition thereof. Lessee expressly waives all rights, if any, to assert any claims against Lessor, Westfield U.S. Holdings, LLC,
Westfield America, Inc., Westfield America Limited partnership and any and all of their parents, subsidiaries, affiliates,
members, predecessors, successors, employees, representatives, any marketing fund, tenants and lessees for damage, destruction
or loss of any equipment, personal property, supplies, cash (or other evidence of customer debt such as checks or credit card
receipts) upon the Shopping Center or, by any reason of fire, theft, robbery or burglary, bodily injury, personal injury or death
or other loss, provided, however, such loss or damage is not due to the gross negligence or willful misconduct of Lessor or any
of its parents, subsidiaries, affiliates, members or employees. Lessee accepts all responsibility for any injury or public liability
incurred as a direct result of its display or personal property or fixtures or business operations.
12. Security. Lessor shall have no responsibility to provide security, supervision or protection against any loss
that may be sustained by Lessee. Any Lessee requiring security must provide security at Lessee's expense, and prior to utilizing
a security company, obtain the written approval of Lessor.
13. Insurance.
a. Lessee shall, at its sole cost and expense, carry and maintain coverage as follows:
i. Commercial General Liability on an "occurrence basis" with a limit of $1,000,000 per
occurrence and $2,000,000 in the aggregate, for bodily injury, death and property damage, which Commercial
General Liability policy shall include products /completed operations liability coverage with a separate
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aggregate limit of not less than $1,000,000 and personal and advertising injury coverage with a separate limit
of not less than $1,000,000, and contractual liability coverage;
ii. Property insurance covering Lessee's personal property in an amount equal to full
replacement value;
iii. Statutory Worker's Compensation and Employer's Liability insurance as required by the
laws of the State in which the Shopping Centers are located; and
iv. Commercial Automobile Liability insurance with a combined single limit of not less than
$1,000,000 providing coverage for the use of any owned, non -owned or hired vehicles.
b. The required insurance policies must apply on a primary basis, and any other insurance policies of
Lessor or any other additional insured entities are excess and non - contributing.
c. Lessee's is a member of the Washington Cities Insurance Authority, a municipal self-insurance risk
pool for property and casualty coverage, as authorized under RCW 48.62 and regulated by the Washington State Risk Manager.
The Parties hereby agree that Lessee's continued participation in the Washington Cities Insurance Authority self - insurance risk
pool shall satisfy the coverage requirements set forth in Section 13(a). Upon request by Lessor, Lessee will provide an
Evidence of Coverage letter as proof of coverage limits required in Section 13(a).
d. If Lessee contracts with or hires independent contractors, subcontractors or vendors to participate in
the Permitted Use or the installation of any equipment or improvements, Lessee shall require such independent contractors,
subcontractors and/or vendors to satisfy the insurance requirements set forth in this Section and to the extent requested by
Lessor, Lessee shall cause such third parties to furnish evidence of such insurance coverage to Lessor, and to execute a hold
harmless agreement as requested by Lessor.
14. Lessor's Right to Relocate Premises. At any time during the Term, Lessor shall have the right to
relocate the Premises to another part of the Shopping Center by notifying Lessee in writing. Lessee shall relocate its
Premises to such other location within seven (7) days after Lessor provides written of notice, at Lessee's sole cost
and expense.
15. Termination Right. Lessor or Lessee may terminate this Lease at any time during the Term, in its sole and
absolute discretion, upon thirty (30) days advance written notice sent to the other party in the manner required by this Lease.
Lessee:
16. Events of Default; Termination.
a. The occurrence of any of the following shall constitute a default and material breach of this Lease by
i. Any failure by Lessee to observe or perform any other provision, covenant or condition of
this Lease to be observed or performed by Lessee where such failure continues for twenty-four (24) hours
after written notice from Lessor to Lessee; provided that if the nature of such default is such that the same
cannot reasonably be cured within twenty-four (24) hours, Lessee shall not be deemed to be in default if it
shall commence such cure within such period and thereafter rectify and cure such default with due diligence
in no event to exceed ten (10) days after written notice thereof from Lessor to Lessee identifying the default.
b. In the event of a default by Lessee, Lessor in addition to any other remedies available to it at law or
equity, including injunction, at its option, without further notice or demand of any kind to Lessee or any other person may: (1)
declare the Term hereof ended and re -enter the Premises and take possession thereof and remove all persons therefrom, and
Lessee shall have no further claim thereon or hereunder; and (2) even though it may have re- entered the Premises, thereafter, at
its sole discretion, immediately terminate this Lease and Lessee's right to possession of the Premises by giving Lessee written
notice that this Lease is terminated.
17. Holding Over. If, following the expiration of the Term or earlier termination of the Lease,
possession of the Premises is not immediately surrendered to Lessor, then Lessee shall pay to Lessor on account of use
and occupancy of the Premises, for each month (or any portion thereof) during which Lessee (or a person claiming by,
through or under Lessee) holds over in possession of the Premises, an amount equal to two (2) times the then current
market rate rent for the Premises, as reasonably determined by Lessor. Lessor's right to collect such amount from
Lessee for such use and occupancy shall be in addition to any other rights or remedies that Lessor may have under this
Lease, or at law or in equity. Nothing contained in this Section shall permit Lessee to retain possession of the
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Premises following the expiration of the Term or earlier termination of the Lease, or limit in any manner Lessor's right
to regain possession of the Premises, through summary proceedings or otherwise. Lessor's acceptance of any
payments from Lessee after expiration of the Term or earlier termination of the Lease shall be deemed to be on
account of the amount to be paid by Lessee in accordance with the provisions of this Section. Lessee expressly
waives, for itself and for any person claiming through or under Lessee, any rights that Lessee or any such person may
have under the provisions of legal requirements, in connection with any holdover summary proceedings that Lessee
may institute to enforce the provisions of this Section. Lessee shall indemnify, defend and hold Lessor harmless from
and against any and all loss, claims, demands, liabilities, damages (including, without limitation, consequential
damages), costs and/or expenses (including, without limitation, attorney's fees and expenses) resulting from any failure
by Lessee to surrender the Premises in the manner and condition required by this Lease upon the expiration of the
Term or earlier termination of the Lease, including, without limitation, any claims made by any proposed new tenant
founded upon such failure by the Lessee.
18. Restrictions on Transfer. Lessee shall not transfer, assign, sublet, enter into franchise, license or
concession agreements, change ownership or voting control of, all or any part of this Lease without Lessor's prior
written consent, which will not be unreasonably withheld.
19. Notices. Wherever in this Lease it shall be required or permitted that notice be given or served by
either party to this Lease to or on the other, such notice, shall be given or served, and shall not be deemed to have been
duly given or served unless in writing and forwarded by overnight courier, certified or registered mail, addressed to the
parties at the addresses set forth above. Either party may change such address by written notice sent by certified or
registered mail.
20. Governing Law. This Lease shall be construed in accordance with the laws of the State of
Washington pertaining to contracts made and performed entirely therein.
21. Attorney's Fees and Costs. If either Lessor or Lessee institutes any action or proceeding against
the other party relating to the provisions of this Lease or any default hereunder, the non - prevailing party in such action
or proceeding shall reimburse the prevailing party for the reasonable expenses of attorney's fees and all costs and
disbursements incurred therein by the prevailing party, including, without limitation, any such attorney's fees, costs or
disbursements incurred on any appeal from such action or proceeding. The prevailing party shall recover all such
attorney's fees, costs or disbursements as costs taxable by the court in the action or proceeding itself without the
necessity for a cross - action by the prevailing party. In addition to the foregoing award of attorney's fees, costs and
disbursements to the prevailing party, the prevailing party shall be entitled to its attorney's fees, costs and
disbursements in any post judgment proceedings to collect or enforce the judgment. This provision is separate and
several and shall survive the termination of this Lease, and shall survive the entry of any judgment, and shall not
merge, or be deemed to have merged, into any judgment. Further, if Lessor employs an attorney or seeks legal advice
in connection with any breach of this Lease by Lessee, or any insolvency proceeding commenced by or against Lessee,
all such legal costs incurred shall be payable by Lessee. Such legal costs shall include, without limitation, review of
any and all notices, schedules, or petitions concerning the Lessee, attendance at creditors' meetings, negotiations with
debtor or debtor's counsel, preparation and filing of any and all notices, motions, proofs of claim, objections, or any
other pleadings on behalf of Lessor in any hearing regarding any matters of any nature in which the Lessor believes its
rights may be affected. For purposes of this Lease, the term "attorneys' fees" or "attorneys' fees and costs" shall
mean the fees and expenses of counsel to the parties hereto, which may include printing, photostating, duplicating and
other expenses, air freight charges, and fees billed for law clerks, paralegals and other persons not admitted to the bar
but performing services under the supervision of an attorney.
22. No Waiver by Lessor. The waiver by Lessor of any breach of any term, covenant or condition
contained in this Lease shall not be deemed a waiver of such term, covenant, or condition of any subsequent breach
thereof, or of any other term, covenant, or condition contained in this Lease. Lessor's consent to or approval of any
act by Lessee requiring Lessor's consent or approval shall not be deemed to waive or render unnecessary Lessor's
consent to or approval of any subsequent similar act by Lessee. Lessor's subsequent acceptance of partial or full rent
or performance by Lessee shall not be deemed to be an accord and satisfaction or a waiver of any preceding breach by
Lessee of any term, covenant or condition of this Lease, or of any right of Lessor to a forfeiture of this Lease by reason
of such breach, regardless of Lessor's knowledge of such preceding breach at the time of Lessor's acceptance. No
term, covenant or condition of this Lease shall be deemed to have been waived by Lessor unless such waiver is in
writing and executed by Lessor.
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23. Miscellaneous. The invalidity or unenforceability of any particular provision(s) of this Lease shall
not affect the other provisions hereof, and this Lease shall be construed in all respects as if such invalid or
unenforceable provisions were omitted. This Lease contains all of the agreements of the parties hereto with respect to
any matter covered or mentioned in this Lease, and no prior agreement, negotiations, representations, brochures,
arrangements, or understanding pertaining to any such matter shall be effective for any purpose unless expressed
herein. Except to the extent required by law, including, without limitation, reporting and disclosure requirements
under applicable securities laws, and except as reasonably necessary in the normal course of dealing with a party's
employees, officers, directors, investors and prospective investors, attorneys, accountants, banks, lenders, advisors,
and other representatives (all of whom will be required to honor the confidentiality of such information), Lessee shall
not disclose the economic terms of this Lease or any material information regarding the Premises to any person
without the prior written consent of Lessor. This Lease may be signed in counterparts, each of which shall be deemed
an original, and all of which together shall be deemed a single instrument. The parties agree that signatures by
facsimile or other electronic transmission methods shall be accepted as originals. Lessee agrees that it will not issue a
press release or publish, disseminate or otherwise make public any statement, advertisement or other public
communication concerning this Lease or its operations at the Shopping Center(s) without the prior approval of Lessor,
which written approval shall not be unreasonably withheld or delayed.
IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed by their duly authorized
representatives as of the date first above written.
LESSOR: LESSEE:
Westfield Property Management LLC, City of Tulikwa
a Delaware limited liability company a Washington Mutual Corporation
In its capacity as agent for the owner(s) of the Shopping
Center(s)
BY:
NAME:
TITLE:
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EXHIBIT A
SHOPPING CENTER INFORMATION, ADDITIONAL INSURED LANGUAGE
Westfield WEA Southcenter C Westfield Property
Southcenter Management LLC
Space to be utilized:
Three exterior posters cases on the east facade of Sears.
Current Seattle Southside location on the northeast corner of Sears.
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EXHIBIT B
Intentionally Deleted
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EXHIBIT C
Rules and Regs
To ensure the quality, consistency and presentation of the Partnership Marketing program, the following rules of operation must be
adhered to without exception:
Prior to Installation
Display:
• A scale drawing of the exhibit set -up must be submitted and approved by Partnership Marketing and/or the Mall
Management Office at least 14 days prior to implementation. Provision must be shown for aisles, widths between exhibits, etc.
No planters, ash trays, benches, directories or center equipment may be moved at any time. Once an exhibit is positioned and
approved, it may not be rearranged or moved by exhibitor. A fine will result in non - compliance. Mall Management will have
final say on placement of all displays, and displays shall be placed only within areas approved by the Fire Marshall.
• Displays can not exceed 6 feet in height without approval from Lessor and display must not block any retail sight lines.
• A phone jack and an electrical plug may be available at many locations. It is the responsibility of the Lessee to contact
the local phone company to activate the jack. If electrical plugs are unavailable, Lessor has the right to move the location of the
display.
Fire Regulations and Permitting:
• The Shopping Center strictly enforces fire codes. The placement of the activation location or premises must have at least
ten feet aisles between planters, furniture and display. Twenty feet aisles between RMU's and twelve feet from storefronts must be
maintained at all times.
• Electric cords may not be exposed on any part of the activation location or premises. All electrical cords coming from the
floor outlet must be properly hidden at all times.
• Cotton batting, straw, dry vines or other highly flammable materials shall not be used in the booth unless such materials
have been flame proofed.
• There shall be no open flame of any type; this will include torches, candles, soldering devices, etc.
• There shall be no flammable liquids of any type; this will include paint thinners, kerosene, gasoline or other like materials.
• Electrical wiring provided for the booths shall conform to the requirements of the Building and Safety Department. Only
Heavy Duty cords (type S or S3) which are U.L. approved are allowed. Multiple plugs must be accompanied by a plug strip with a
circuit breaker. All electrical cords shall be adequately protected against tampering. Cords crossing the pedestrian aisles shall be
covered with an appropriate threshold plate to prevent pedestrians from tripping on loose cords.
• Lessee must obtain all necessary permits and licenses required by local, state and federal law prior to activating their
program and commencing business within their premises. Lessee must adhere to all fire codes and regulations. Contact the Fire
Department for further information. The sampling of food for immediate consumption is not permitted without approval from the
County Health Department.
Marketing and Signage:
• When advertising or publicizing your event/display, the Shopping Center name must be used as shown in Exhibit A,
• Any advertisements or signage must be submitted to Lessor for approval, including, but not limited to the content,
dimensions and location of all signage.
• All display signs are to be professional. Handwritten signs are impermissible.
• No surveys may be conducted or petitions signed unless approved by center management prior to the activity
taking place.
Once on property
Set -up:
• Set -up /Installation must take place outside of regular center hours.
• All carts and dollies for moving material are required to have pneumatic tires. Rubber tires are permitted in service
corridors only. Metal wheels are not allowed. Any damage to property will be charged to Lessee.
8
12
Contract No.:
• Standard Shopping Center hours are 10:00 a.m. to 9:00 p.m. Mondays through Saturday; 11:00 a.m. to 7:00 p.m. Sundays
(may vary slightly per Shopping Center). Hours will vary to accommodate seasonal and holiday demands. Any Lessee who does not
maintain these hours unless revised hours have been agreed upon and included in the contract will be in violation of the Lease and
will be subject to immediate termination of the Lease. In case of any emergency, the mall management office must be notified
immediately.
• Lessee is responsible for supplying tables, chairs and other materials unless agreement states otherwise. All tables or
counters must be skirted to the floor on all four sides. If event equipment is rented from Mall Management, it must be returned in
the same condition that it was provided to Lessee. If it is not, damage will be assessed and charged to Lessee.
• No decorations or signs are to be hung from the ceiling, soffits, pole lights, or columns or attached to walls, trees, or any
other mall fixtures.
• Exhibitors are responsible for providing or arranging all necessary labor in uncrating, erecting, or dismantling of displays.
Maintenance personnel are not available to help with set up /take down.
• Exhibitors may park at loading areas only to unload materials. Loading zones will be kept open for deliveries whenever
possible. Parking in driveways, fire lanes, and loading zones is strictly prohibited. Delivery vehicles must be completely unloaded
in appropriate dock and then moved out. Unattended parked vehicles in Loading Zones will be ticketed or towed at the expense of
the Lessee serviced by the vehicle.
• Access and deliveries through the common area of the Shopping Center or the main public entrances will only be permitted
when it is physically impossible to make deliveries through the service corridor routes. Permission for deliveries through the
Shopping Center must be obtained from the Management Office. No deliveries can be made during Shopping Center operating
hours.
Staffing:
• Lessee shall at all times use the Premises for the purpose of performing the Activities in a proper manner satisfactory
to Licensor and in an honest, conscientious and business -like way.
• Lessee is responsible for the safety, security, and cleanliness of its own displays. Any damage to mall floors, walls,
furniture or plants will be billed to the Lessee. Lessor assumes no responsibility for any loss or damage to property displayed
by Lessee in the Shopping Center or parking lot.
• The Premises must be staffed at all times with competent personnel, who are neat in appearance and dressed in a
professional manner. The Management Office maintains the right to immediately cause the removal of such employees from
the Shopping Center if such employees are not properly dressed or do not otherwise comply with these rules and regulations.
• Activations and/or Premises should not be left unattended for more than 10 minutes, if applicable.
• It is recommended that breaks not be taken during the peak shopping hours between 11:30 a.m. and 2:00 p.m. for
staffed activations and premises.
• Employees may not bring their children or pets to the Shopping Center.
• Lessee is not permitted to have food, beverages or reading material at the activation location or premises, unless
otherwise permitted in their Agreement. Smoking is also prohibited. Radios, heaters, fans, televisions, etc. are not allowed.
• All personnel must park in employee parking areas as designated by Lessor. Parking abuse will result in ticketing and,
if necessary, towing the vehicle.
• Activation locations and premises must be secured at your own risk. Please make sure to contact the Management
Office, if you need assistance.
• Coats, pocketbooks, and other personal belongings must be stored out of sight.
• Lessee shall not at anytime solicit shoppers. Soliciting is to try to obtain, to ask earnestly, to beg, or to entice shoppers
persistently beyond four feet of the activation location or premises. You may, however, greet customers within four feet of your
activation location or premises.
• If the event/display includes street teams throughout the Shopping Center, these employees must remain in the
designated areas set forth in the Lease.
• The playing of any musical instrument, radio, television, or the use of a microphone, loudspeaker, or flashing/rotating
lights is not permitted without Center Management approval. If allowed, the sound level should be set to a level that will not
affect the businesses in the shopping center.
• Cardboard boxes and trash are to be properly disposed of. The Management Office shall provide locations.
• No trash will be placed in or around mall trash receptacles. Violation of the common area trash receptacle policy will
result in a fine.
Vehicle Display
9
13
Contract No.:
Any vehicle or other apparatus which has a fuel tank and which will be used for display purposes inside the Shopping center shall
meet the following requirements:
a. Comply with all local fire regulations.
b. Provide locked fuel caps and/or prevent caps from allowing possible leakage of flammable vapors.
c. Disconnect all battery cables.
d. Provide drip pans, carpet squares or other material under each tire and/or leg of heavy items.
e. The fuel tank of each vehicle shall have a maximum of one gallon of gas.
f. Keys to each vehicle must be left with the Mall Management.
g. Dealership employee must clean the car daily before 10 a.m.
h. Mall Management has the right to remove or relocate any and all vehicles at any time.
i. To obtain a fire permit please contact your local fire inspector.
Failure to adhere to the above and /or rectify within 2 -5 days (depending on the violation) could result in the suspension
and /or terminations of the Lease until said violation is cured.
Please keep a copy of these rules and regulations at your activation and/or Premises. Please review these rules often with your
employees and newly hired personnel. If you would like additional copies please let the Management Office know.
AGREEMENT TO ACCEPT RULES AND REGULATIONS
I have read and understand the criteria for operation and agree to abide by them. I further agree to have all employees read and
understand these rules and regulations. I understand that failure to do so will result in termination of activity in the Shopping Center.
Lessee Name
Name
(Please print)
Signature
Date
14
10
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City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL U��U���������U�
nu�n ��n��n�n��n n��x����~ n�n�~o�x��n����n�����n�n
Mayor Haggerton
Finance and Safety Committee
FROM; Katherine Kertzman, Tourism Program Manager
Brandon Miles, Economic Development Planner
DATE: September 3, 2014
SUBJECT: Seattle Express Shuttle Services Contract
ISSUE
The Council is being asked to reauthorize the Mayor to sign a shuttle services contract with Miller Schmer Inc.
doing business as "Seattle Express" on behalf of Seattle Southside Visitor Services (SSVS).
BACKGROUND
For over 13 years SSVS has hired Seattle Express to provide regularly scheduled shuttle services from hotels
in the City of SeaTac to Westfield Southcenter, seven days a week (excluding some major hV|iddys). Currently,
the City of SeaTac contributes 10096 of the shuttle costs as a part of the annually approved tourism marketing
initiatives SSVS provides to the City of SeaTac. The City of SeaTac's Hotel Motel Advisory Committee
members support funding the complimentary shuttle service for their guests because it conveys added value to
selling their properties to potential overnight guests and groups; the City of Tukwila incurs no direct costs but
receives the sales tax from shoppers. Seattle Express delivered more than 28.000 riders/shoppers to Westfield
Southcenter in 2013 resulting in $4,311,900 in estimated visitor spending at Westfield'. The shuttle is wrapped
in Seattle Southside branded advertising.
As administrator of Seattle Southside. Tukwila contracts with the shuttle, pays Ulnrn, and is reimbursed 100Y6
for expenses from the SeaTac lodging tax fund. Currently, the cost is $10,000 per month.
Seattle Express has an Auto Transportation Certificate 01052 issued by the Washington Utilities and
Transportation Commission (WUTC) that gives Seattle Express the sole right to provide a scheduled shuttle
service, at a set rate, on a set route for hotel guests (in our cities) and no other company can provide this
shuttle service in our area which is defined as SeaTac and Tukwila. Thenafone, a competitive bid process is not
feasible for this contract.
ANALYSIS
Both the SeaTac Hotel Motel Advisory Committee and Tukwila Lodging Tax Advisory Committee reviewed and
approved the 2015 Seattle Express shuttle service marketing initiatives at their respective August meetings.
FINANCIAL IMPACT
As the Council is aware, the operation of SSVS is a joint effort between the cities of SeaTac and Tukwila.
Tukwila is solely responsible for the administration of SSVS. Both cities provide funding to SSVS to fund joint
/ The estimated spending per shuttle rider is ee'imated from a survey completed. by
Westfield. in 20I1.
INFORMATIONAL MEMO
Page 2
efforts, such as marketing. Additionally, each city also provides funding for specific initiatives. The Seattle
Express Shuttle Service is an example of one such initiative. The City of SeaTac provides 100Y6 of the funding
to pay the direct costs associated with operation of the shuttle. Neither the City of Tukwila's lodging fund nor
the City's general fund pays the costs associated with the shuttle operations.
SSVS Transition
In the s ing of 2013 the City Council authorized the Mayor to sign an interlocal agreement (ILA) with the cities
of SeaTac and Des Moines to create a tourism promotion area (TPA) that encompasses the geographical
areas of Tukwila, SeaTac and Des Moines. The City of SeaTac is currently working to form a public
development authority (PDA) that will oversee the day to day operations of the TPA. Once the PDA is
operating, it is assumed that most of the operations of SSVS will shift to the PDA. Once the PDA is formed and
SSVS ceases to exist as a City Department, the City will not be able to administer some of the contracts that
SSVS currently oversees. The proposed Shuttle services contract includes a provision that Tukwila can
terminate the contract with 30-dey'S notice. This provides the City of Tukwila flexibility once the PDA is up and
running.
RECOMMENDATION
The Council is being asked to authorize the Mayor to sign a service contract in an amount not to exceed
$120,000 on behalf of Seattle Southside Visitor Service with Miller Schmer Inc. doing business as Seattle
Express.
The Finance and Safety Committee is being asked to place the contract on the October 6, 2014 consent
agenda.
ATTACHMENTS
• Proposed Contract
16
City of Tukwila
6200 Southcenter Boulevard, Tukwila WA 98188
Contract Number:
CONTRACT FOR SERVICES
This Agreement is entered into by and between the City of Tukwila, Washington, a non-charter
optional municipal code city hereinafter referred to as "the City," and Seattle Express, hereinafter referred
to as "the Contractor," whose principal office is located at 8028 180th St. SE, Snohomish, WA 98296.
WHEREAS, the City has determined the need to have certain services performed for its citizens
but does not have the manpower or expertise to perform such services; and
WHEREAS, the City desires to have the Contractor perform such services pursuant to certain
terms and conditions; now, therefore,
IN CONSIDERATION OF the mutual benefits and conditions hereinafter contained, the parties
hereto agree as follows:
Scope and Schedule of Services to be Performed by Contractor. The Contractor shall perform
those services described on Exhibit A attached hereto and incorporated herein by this reference as if
fully set forth. In performing such services, the Contractor shall at all times comply with all Federal,
State, and local statutes, rules and ordinances applicable to the performance of such services and the
handling of any funds used in connection therewith. The Contractor shall request and obtain prior
written approval from the City if the scope or schedule is to be modified in any way.
2. Compensation and Method of Payment. The City shall pay the Contractor for services rendered
according to the rate and method set forth on Exhibit B attached hereto and incorporated herein by this
reference. The total amount to be paid shall not exceed $120,000 at a rate of $10,000 per month.
3. Contractor Budget. The Contractor shall apply the funds received under this Agreement within the
maximum limits set forth in this Agreement. The Contractor shall request prior approval from the
City whenever the Contractor desires to amend its budget in any way.
4. Duration of Agreement. This Agreement shall be in full force and effect for a period commencing
January 1, 2015, and ending December 31, 2015, unless sooner terminated under the provisions
hereinafter specified.
5. Independent Contractor. Contractor and City agree that Contractor is an independent contractor
with respect to the services provided pursuant to this Agreement. Nothing in this Agreement shall be
considered to create the relationship of employer and employee between the parties hereto. Neither
Contractor nor any employee of Contractor shall be entitled to any benefits accorded City employees
by virtue of the services provided under this Agreement. The City shall not be responsible for
withholding or otherwise deducting federal income tax or social security or contributing to the State
Industrial Insurance Program, or otherwise assuming the duties of an employer with respect to the
Contractor, or any employee of the Contractor.
CA Revised 1-2013 Page 1 of 6
17
6. Indemnification. The Contractor shall defend, indemnify and hold the City, its officers, agents,
officials, employees and volunteers harmless from any and all claims, injuries, damages, losses or suits
including attorney fees, arising out of or in connection with the performance of this Agreement, except
for injuries and damages caused by the sole negligence of the City. Should a court of competent
jurisdiction determine that this Agreement is subject to RCW 4.24.115, then, in the event of liability
for damages arising out of bodily injury to persons or damages to property caused by or resulting from
the concurrent negligence of the Contractor and the City, its officers, officials, employees, and
volunteers, the Contractor's liability hereunder shall be only to the extent of the Contractor's
negligence. It is further specifically and expressly understood that the indemnification provided herein
constitutes the Contractor's waiver of immunity under Industrial Insurance, Title 51 RCW, solely for
the purposes of this indemnification. This waiver has been mutually negotiated by the parties. The
provisions of this section shall survive the expiration or termination of this Agreement.
7. Insurance. The Contractor shall procure and maintain for the duration of the Agreement, insurance
against claims for injuries to persons or damage to property which may arise from or in connection
with the performance of the work hereunder by the Contractor, their agents, representatives,
employees or subcontractors. Contractor's maintenance of insurance, its scope of coverage and limits
as required herein shall not be construed to limit the liability of the Contractor to the coverage
provided by such insurance, or otherwise limit the City's recourse to any remedy available at law or in
equity.
A. Minimum Scope of Insurance. Contractor shall obtain insurance of the types and with the limits
described below:
1. Automobile Liability insurance with a minimum combined single limit for bodily injury and
property damage of $5,000,000 per accident. Automobile liability insurance shall cover all
owned, non-owned, hired and leased vehicles. Coverage shall be written on Insurance Services
Office (ISO) form CA 00 01 or a substitute form providing equivalent liability coverage. If
necessary, the policy shall be endorsed to provide contractual liability coverage.
2. Commercial General Liability insurance with limits no less than $5,000,000 each occurrence,
$5,000,000 general aggregate and $5,000,000 products-completed operations aggregate limit.
Commercial General Liability insurance shall be written on ISO occurrence form CG 00 01
and shall cover liability arising from premises, operations, independent contractors, products-
completed operations, stop gap liability, personal injury and advertising injury, and liability
assumed under an insured contract. The Commercial General Liability insurance shall be
endorsed to provide the Aggregate Per Project Endorsement ISO form CG 25 03 11 85 or an
equivalent endorsement. There shall be no endorsement or modification of the Commercial
General Liability Insurance for liability arising from explosion, collapse or underground
property damage. The City shall be named as an insured under the Contractor's Commercial
General Liability insurance policy with respect to the work performed for the City using ISO
Additional Insured endorsement CG 20 10 10 01 and Additional Insured-Completed
Operations endorsement CG 20 37 10 01 or substitute endorsements providing equivalent
coverage.
3. Workers' Compensation coverage as required by the Industrial Insurance laws of the State of
Washington.
CA Revised 1-2013 Page 2 of 6
18
B. Other Insurance Provision. The Contractor's Automobile Liability and Commercial General
Liability insurance policies are to contain, or be endorsed to contain that they shall be primary
insurance with respect to the City. Any insurance, self-insurance, or insurance pool coverage
maintained by the City shall be excess of the Contractor's insurance and shall not contribute with
it.
C. Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best rating
of not less than A: VII.
D. Verification of Coverage. Contractor shall furnish the City with original certificates and a copy
of the amendatory endorsements, including but not necessarily limited to the additional insured
endorsement, evidencing the insurance requirements of the Contractor before commencement of
the work.
E. Subcontractors. The Contractor shall have sole responsibility for determining the insurance
coverage and limits required, if any, to be obtained by subcontractors, which determination shall
be made in accordance with reasonable and prudent business practices.
F. Notice of Cancellation. The Contractor shall provide the City and all Additional Insureds for this
work with written notice of any policy cancellation, within two business days of their receipt of
such notice.
G. Failure to Maintain Insurance. Failure on the part of the Contractor to maintain the insurance as
required shall constitute a material breach of contract, upon which the City may, after giving five
business days notice to the Contractor to correct the breach, immediately terminate the contract or,
at its discretion, procure or renew such insurance and pay any and all premiums in connection
therewith, with any sums so expended to be repaid to the City on demand, or at the sole discretion
of the City, offset against funds due the Contractor from the City.
8. Record Keeping and Reporting.
A. The Contractor shall maintain accounts and records, including personnel, property, financial and
programmatic records which sufficiently and properly reflect all direct and indirect costs of any
nature expended and services performed in the performance of this Agreement and other such
records as may be deemed necessary by the City to ensure the performance of this Agreement.
B. These records shall be maintained for a period of seven (7) years after termination hereof unless
permission to destroy them is granted by the office of the archivist in accordance with RCW
Chapter 40.14 and by the City.
9. Audits and Inspections. The records and documents with respect to all matters covered by this
Agreement shall be subject at all times to inspection, review or audit by law during the performance of
this Agreement.
10. Termination. This Agreement may be terminated by the City at any time and for any reason by the
City giving to the Contractor thirty (30) days written notice of the City's intention to terminate the
same. If the Contractor's insurance coverage is canceled for any reason, the City shall have the right
to terminate this Agreement immediately.
11. Discrimination Prohibited. The Contractor shall not discriminate against any employee, applicant
for employment, or any person seeking the services of the Contractor to be provided under this
Agreement on the basis of race, color, religion, creed, sex, age, national origin, marital status or
presence of any sensory, mental or physical handicap.
CA Revised 1-2013 Page 3 of 6
19
12. Assignment and Subcontract. The Contractor shall not assign or subcontract any portion of the
services contemplated by this Agreement without the written consent of the City. If Seattle Southside
becomes a part of a newly formed Public Development Authority (PDA), the City may assign this
Agreement to the PDA.
13. Entire Agreement; Modification. This Agreement, together with attachments or addenda,
represents the entire and integrated Agreement between the City and the Contractor and supersedes
all prior negotiations, representations, or agreements written or oral. No amendment or modification
of this Agreement shall be of any force or effect unless it is in writing and signed by the parties.
14. Severability and Survival. If any term, condition or provision of this Agreement is declared void or
unenforceable or limited in its application or effect, such event shall not affect any other provisions
hereof and all other provisions shall remain fully enforceable. The provisions of this Agreement,
which by their sense and context are reasonably intended to survive the completion, expiration or
cancellation of this Agreement, shall survive termination of this Agreement.
15. Notices. Notices to the City of Tukwila shall be sent to the following address:
City Clerk, City of Tukwila
6200 Southcenter Blvd.
Tukwila, Washington 98188
Notices to the Contractor shall be sent to the
signature line below.
Seattle Southside Visitor Services
3100 South 176t1 St.
Seattle, WA 98188
address provided by the Contractor upon the
16. Applicable Law; Venue; Attorney's Fees. This Agreement shall be governed by and construed in
accordance with the laws of the State of Washington. In the event any suit, arbitration, or other
proceeding is instituted to enforce any term of this Agreement, the parties specifically understand and
agree that venue shall be properly laid in King County, Washington. The prevailing party in any such
action shall be entitled to its attorney's fees and costs of suit.
DATED this day of , 20 .
CITY OF TUKWILA CONTRACTOR
By:
Mayor, Jim Haggerton
ATTEST/AUTHENTICATED:
City Clerk, Christy O'Flaherty
APPROVE) AS TO FORM:
Office of the City Attorney
Printed Name and Title:
Address:
CA Revised 1-2013 Page 4 of 6
20
Exhibit A
Scope of Services
1. Provide a complimentary regularly scheduled round trip shuttle service for SeaTac hotel guests to
the Westfield Southcenter.
2. The route schedule will be published online and in printed format to be distributed to all SeaTac
hotels, SSVS and Westfield Southcenter.
3. Seattle Express will not make changes to the published schedule without prior written approval
from SSVS staff.
4. Seattle Express will be responsible for all maintenance and upkeep of shuttle fleet and any
associated fees.
5. Permit SSVS to wrap the shuttle van(s) used for Westfield Shuttle service in Seattle Southside
branded advertising at SSVS's expense.
6. Shuttle service will operate seven days a week, excluding certain holidays.
7. Include Seattle Southside webpage link on Seattle Express website.
8. Promote the Seattle Southside visitor center by providing shuttle riders with SSVS Visitor Guide
and Map and encouraging them to utilize other visitor center services.
9. Shuttle drivers will act as tourism ambassador for the Seattle Southside area.
10. With each monthly invoice, provide a ridership total report for the month being billed.
CA Revised 1 -2013 Page 5 of 6
21
Exhibit B
Compensation
Contractor shall submit invoices to the City within fourteen days of the end of each month. Invoices shall
be mailed to:
Seattle Southside Visitor Services
3100 South 176 Street
Seattle, WA 98188
The total amount to be paid under this contract shall not exceed $120,000 and will be paid at a fixed rate
of $10,000 per month.
CA Revised 1 -2013 Page 6 of 6
22
City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL U��U�n�������K�
nn�n ��n�nmn��n n�*n����~ n�n�~n�n�*n�a��n�����n�n
TO: Mayor Haggerton
Finance and Safety Committee
FROM: Peggy McCarthy, Finance Director
BY: Vicky Carlsen, Deputy Finance Director
DATE: September 10, 2014
SUBJECT: Second Quarter 2014 Cash & Investment Report
ISSUE
The second quarter Investment Report is included with this memorandum and is discussed below.
BACKGROUND
City funds are invested to earn a reasonable return while preserving principal and allowing
sufficient liquidity to meet the City's operating needs. To achieve these objectives investments
are diversified by type, by financial institudon, and by maturities in compliance with the City
Investment Policy.
DISCUSSION
Portfolio Components
At June 50. 2014. the portfolio totaled $47.1 million comprised of $37.2 million in cash and cash
equivalents and $10.0 in longer term investments. The portfolio balance increased by $2.4 million
from March 31, 2014 balance of $44.7 million. Ann jor reason for the increase in funds is because
property tax collections for the first half of the year were received in 2nd quarter while general fund
expenditures are spread fairly evenly throughout the year.
In April, the City purchased a Federal Home Loan Mortgage Corp agency investment in the
amount of $2 million. It was purchased on April 10, 2014 and will mature on March 4, 2017. This
investment has a .85% yield to maturity.
In June, the City purchased a second agency investment of $1 million from Fannie Mae with a
maturity date of December 20, 2014 and a yield to maturity of 1.30%.
Both investments increase the percentage of the City's longer-term investments and increase
portfolio yield because of the higher interest rates on both agencies. Since these are both longer-
terminvestnnento.theyxverep|acedinthecondngencyfundvvherethe|ike|ihondofaccesainOthe
available cash in the next few years is remote. The purchase of agencies also increases the
diversity of the portfolio.
Portfolio Performance
The portfolio weighted average yield at year end was .46%. Considering the portfolio's weighted
average maturity was 1.1 years, and the yield on the cash & cash equivalent accounts was .08%,
the portfolio yield of 0.46% is still quite favorable. The yield has been sustained by the 4.22%
average yield on the municipal bond investments, the .59% yield on the certificate of deposits,
the .67% yield on the agencies, and the .45% earnings credit on the US Bank depository account.
INFORMATIONAL MEMO
Page 2
Investment income through 2nd quarter 2014 for cash equivalents and certificates of deposits is
$4O.G8O plus $75.2ODof accrued municipal bond interest for o total of$115.88Oagainst a prorated
budget of $131.078.
Not included in the portfolio is interest earned from the operating ondcaoite loans to the MPD.
The operating loan is being repaid on a monthly basis and will be paid in full by May 2023. Interest
earned on the loan through the second quarter of 2014 is $10.207. The capital loan is being
repaid semi-annually and will be paid in full by December 2022. Accrued interest for the first
quarter of 2014 is $7,884. Attached to the investment report are amortization schedules for both
loans to the MPD.
Policy Compliance and Liquidity Analysis
As of the end of the 2'm quarter, the portfolio profile is well within the range of all the investment
policy parameters. There is currently a healthy mix of investments with a range of maturity dates.
Current investments allow for adequate cash flow requirements.
Fund Cash & Investment Balances
The general fund balance shows an increase of $300 thousand from March 31, 2014 revenue on
budget and expenditures under budget for the first half of the year. Both the general fund and
contingency funds show significant increases from March 2013 to March 2014. This is due to the
sale of LID bonds that occurred in November 2013 then transferring a portion of the bond
proceeds into the contingency fund. Changes in other governmental funds is due primarily due to
the timing of when capital pr ject expenditures are occurring.
Both the insurance and LEOFF I insurance funds show a reduction in cash and investments.
Claims have been higher than anticipated in the insurance fund and the LEOFF I insurance fund
is not currently funded in order to intentionally reduce fund balance.
Investment Environment
Short term interest rates continue to remain low and are expected to remain low through 2015.
Unemployment rates continue to fall but the labor market remains slack. The Federal intends to
maintain a zero-interest-rate policy until the economy strengthens. The portfolio will be managed
to take advantage of investment opportunities as they arise.
RECOMMENDATION
Presentation is for information only.
ATTACHMENTS
Cash and Investment Report
Policy Compliance & Liquidity Analysis
Cash and Investment Balances by Fund
Treasury Rates and Yield Curves
Amortization Schedule — MPD Operating Loan
Amortization Schedule — MPD Capital Loan
24
CITY OF TUKWILA
CASH & INVESTMENT REPORT
June 30, 2014
(a) (c) (d)
Rating Purchase Maturity Term Par Book Yield to Annualized
Agency / Issuer Moodys Investment Type Date Date Yrs Value Balance Maturity Return
CASH & CASH EQUIVALENTS
US Bank Depository Various (b) $17,134,544 $17,134,544 (e) 12,888
0.45%
Washington State Treasurer LGIP Investment Pool Various (b) 5,930,789 5,930,789 (f) 0.08% 2,990
Columbia Bank Money market Various (b) 14,100,596 14,100,596 (f) 13,286
0.18%
Total Cash & Cash Equivalents
37,165,929 37,165,929 0.08% 29,163
INVESTMENTS
Certificates of Deposit
Sound Community Bank Certificate of Deposit 3/4/2011 3/4/2017 6.0 3,000,000 3,134,494 0.85% 17,402
Regal Bank Certificate of Deposit 6/20/2012 12/20/2014 2.5 250,000 250,000 1.30% 1,621
CERTIFICATES OF DEPOSIT -- TOTAL 5.7 3,250,000 3,384,494 0.59% 19,022
Agencies
Federal Home Loan Mtg Corp US agency 4/10/2014 5/13/2016 2.1 2,000,000 2,002,911 0.50% (e) 10,000
(FHLMC)
FNMA US agency 6/6/2014 8/23/2017 3.2 1,000,000 998,400 1.00% 10,008
TOTAL AGENCIES 2.5 3,000,000 3,001,311 0.67% 20,008
Taxable Municipal Bonds
City of Marysville, sinking Al LTGO Refunding 11/23/2010 12/1/2017 5.5 535,000 573,252 3.37% 19,319
2014 -2017, ave 5.5 years
Washington State Convention Aa3 Lodging Tax Bonds 11/30/2010 7/1/2016 5.6 500,000 503,625 3.60% 18,130
Center Facility
UW Biomedical Center Aal Revenue Bonds 12/14/2010 7/1/2017 6.6 500,000 503,724 4.05% 20,401
UW Biomedical Center Aal Revenue Bonds 12/14/2010 7/1/2019 8.6 500,000 504,038 4.70% 23,690
Douglas County, ESD, sinking Aal UTGO 12/23/2010 12/1/2020 8.9 1,135,000 1,149,825 4.55% 52,317
2018 -2020, ave 9 yrs
Port of Anacortes Al LTGO 12/17/2010 9/1/2020 9.7 340,000 330,855 5.00% 16,543
TOTAL MUNICIPAL BONDS
7.6 3,510,000 3,565,320 4.22% 150,400
Total Investments
5.4 9,760,000 9,951,125 1.90% 189,430
TOTAL CASH, CASH EQUIVALENTS & INVESTMENTS 1.1 $ 46,925,929 $ 47,117,054 I 0.46% I $ 218,593
(a) On calleable bonds, term is calculated to final maturity even though call date may occur first; term of liquid investments is
one day; on sinking fund bonds, average maturity is used to calculate term.
(b) No fixed maturity, funds are available within one day.
(c) Yield to Maturity represents average rate for the year for various investment vehicles.
(d) Annualized Return represents actual earnings for the fiscal year for bonds.
(e) Represents earning credit from US Bank. City earns interest up to the amount of fees.
(f) Represents rate in effect for period ending this report.
(g) Annualized Return represents actual earnings through current reporting period
Current Portfolio Yield
Percent of Cash & Investment Portfolio
Municipal
Bonds
8%
Money
Market
32%
1111111
,,,e0000000000000000000000000000000000000000000000000
CDs
8%
LGIP
13%
Cash
39%
25
CITY OF TUKWILA
Policy Compliance & Liquidity Analysis
CASH & INVESTMENT REPORT
June 30, 2014
Liquidity Analysis & Maturity Diversification
Funds immediately available
Fixed Maturity Investments, maturing in:
0 -90 days after Report Date
91 -180 days after Report Date
Investments maturing in 1 year or less
Investments maturing in 1 -3 years
Investments maturing in 3 -5 years
Investments maturing in 5 -7 years
Investments maturing in 7 -10 years
Investments maturing in more than 1 year
and less than 10 years.
TOTALS
Portfolio
Amount
$ 37,165, 929
250,000
250,000
5,641, 030
2,075,376
1,984,719
9,701,125
$ 47,117, 054
Available
Within 1 Year
As of Report Date
Available
Within 5
Years
$ 37,165, 929 $ 37,165, 929
250,000
$ 37,415,929
79%
250,000
5,641, 030
2,075,376
Available in
5 - 10 Years
1,984,719
$ 45,132, 336 $ 1,984,719
96% 5%
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
Liquidity Requirements and Funds Available for Investing:
Funds immediately available
Restrictions & designations:
Operating liquidity
Liquidity threshold
Funds available for longer term investing
(a)
$ 37,165, 929
14, 000, 000
14, 000, 000
$ 23,165,929
(a) Represents largest one month decline in portfolio balance over the most recent 36 month period doubled; or the
equivalent of a 100% cushion.
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
Financial Institution Diversification
US Bank
Washington State Treasurer
Columbia Bank
Sound Community Bank
Other financial institutions
Total
Investment Mix
Depository
State Investment Pool
Money market
Certificate of Deposit
US Agency
Municipal Bonds
Total
Portfolio
Amount
$ 17,134,544
5,930,789
14,100, 596
3,134,494
6,816,631
$ 47,117, 054
% of Total
36.4%
12.6%
29.9%
6.7%
14.5%
100.0%
Portfolio
Amount % of Total
17,134,544 36.4%
5,930,789 12.6%
14,100, 596 29.9%
3,384,494 7.2%
3,001,311 6.4%
3,565,320 7.6%
47,117, 054 100.0%
POLICY
MAXI MUM
50.0%
75.0%
50.0%
50.0%
50.0%
POLICY
MAXI MUM
insured by PDPC
75.0%
insured by PDPC
insured by PDPC
75.0%
no limit specified in policy
Policy
Met?
Yes
Yes
Yes
Yes
Yes
Policy
Met?
Yes
Yes
Yes
Yes
Yes
Yes
IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
Weighted Average Maturites:
Certificates of deposit
Municipal bonds
Total Investments
Total Portfolio
Years
5.7
7.6
5.4
1.1
POLICY MAXIMUM 3.5
Policy Met? Yes
Note: Cash and cash equivalents are available within one day and are factored
into the Total Portfolio weighted average maturity.
26
Performance Analysis
Current portfolio yield
Benchmarks:
6 month treasury
2 year treasury
Local Govt Invst Pool
0.46%
0.07%
0.47%
(f) 0.08%
CITY OF TUKWILA
Cash & Investment Balances By Fund and Fund Group
CASH & INVESTMENT REPORT
June 30, 2014
Fund Groue'
Balances
06/30/14
General 000 GENERAL 6,987,822
General Tota 6,987,822
Special Revenue 101 HOTEL /MOTEL TAX 495,322
103 STREET
104 ARTERIAL STREET
105 CONTINGENCY
107 FIRE EQUIP. CUM. RESERVE
109 DRUG SEIZURE FUND 68,308
Special Revenue Total 9,359,877
Debt Service 206 L.I. GUARANTEE 669,147
207 LIMITED TAX G.O. BONDS 1999
208 LIMITED TAX G.O. BONDS 2000
209 LIMITED TAX G.O. BONDS 2003
210 LIMITED TAX G.O. REFUNDING 2003
211 LIMITED TAX G.O. REFUNDING 2008
212 LTGO SCORE BONDS
213 LTGO SCORE BLD AMER BONDS
214 LTGO 2010 Series A
215 LTGO 2010 Series B
216 VALLEY COM Refunding bonds 2010 106,434
217 LIMITED TAX GO BONDS REFUNDING 274,214
218 LTGO 2013 -
233 LID #33 81,316
Debt Service Total 2,369,574
Capital Project 301 LAND ACQ, REC & PARK DEVLPMNT 1,236,430
302 FACILITY REPLACEMENT 1,904,720
303 GENERAL GOVERNMNT IMPROVEMENTS 570,592
304 FIRE IMPACT FEES 454,321
Capital Project Total 4,166,063
Enterprise 400 UTILITY ON ACCT (overpayments) 22,106
401 WATER 5,376,215
402 SEWER 3,335,265
404 WATER /SEWER REVENUE BONDS
405 BOND RESERVE
411 FOSTER GOLF COURSE 622,681
412 SURFACE WATER 2,361,899
Enterprise Total 11,718,166
Internal Service 501 EQUIPMENT RENTAL 4,650,880
502 INSURANCE 5,238,745
503 INSURANCE - LEOFFI 735,138
Internal Service Total 10,624,763
Grand Total 45,226,266
Balances
6/30/13
$ 4,149,258
4,149,258
660,126
1,450,893 1,051,963
1,582,095 911,325
5,763,258 1,461,857
945,694
146,312
5,177,278
Balances
6/30/12
$ 4,903,893
4,903,893
440,145
938,114
2,055,132
1,458,686
943,850
222,196
6,058,123
1 3,020,451 3,828,526
244,320 247 469,496
406,416 218 705,717
291,688 1,390 30,891
- - 115,995
296,039 108,557 369,525
4,612 66,508
12,954 14
1 101,738
3,148,430 5,688,409
1,099,701 1,633,257
2,088,543 2,018,535
637,101 433,693
402,514 317,677
4,227,860 4,403,163
27,857 17,122
5,655,077 3,982,420
2,316,037 1,238,090
458,643 114,058
2,985,279 2,683,138
11,442,893 8,034,828
4,474,197 3,804,498
6,239,565 6,198,009
1,666,674 1,904,047
12,380,436 11,906,554
40,526,154 40,994,970
Balances
6/30/11
$ 7,197,080
7,197,080
497,927
733,893
8,906,680
1,457,270
884,605
(20,100)
12,460,275
13,248
70
814
Balances
6/30/10
$ 5,314,837
5,314,837
927,777
464,298
4,978,370
887,293
802,518
258,103
8,318,359
118,267
133,945
(3,914)
71,715
(74,699)
14,132 245,314
4,845,418 4,216,052
2,044,018 2,073,625
751,794 363,610
168,919 145,423
7,810,149 6,798,708
13,664 13,184
4,377,038 5,046,356
1,209, 792 1,622,088
135,566
393,547
(169,408) 142,065
2,575,702 1,966,145
8,006,789 9,318,951
3,803,723 3,604,004
6,048,103 5,424,728
1,725,536 1,528,676
11,577,363 10,557,408
47,065,787 40,553,577
Funds not included in the Grand Total are the fiduciary funds and the MPD. However, these balances ($2,121,880) are included in the investment balances.
27
Rates at June 30, 2014
u
CITY OF TUKWILA
Treasury Rates and Yield Curves
CASH & INVESTMENT REPORT
June 30, 2014
3mo
6mo
1Yr
2Yr
3Yr
5Yr
10Yr
30Yr
1 II 11111111 1111 II
111111 II 111111 VII II IIII111111 VII
0.04%
0.07%
0.11%
0.47%
0.88%
1.62%
2.53%
3.34%
Source: US Department of the Treasury
Rate %
Change Change
0.00% 0%
- 0.03% -43%
- 0.04% -36%
0.11% 23%
0.22% 25%
0.21% 13%
0.01% 0%
- 0.18% -5%
Rates at June 28, 2013
3mo
6mo
1Yr
2Yr
3Yr
5Yr
10Yr
30Yr
11111 111111111111111 IIIIIIII
0.04%
0.10%
0.15%
0.36%
0.66%
1.41%
2.52%
3.52%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
Comparison of Treasury Rates
1111111111110 11111111111111110100m011101100
muuuuuuuuumuuuumuuuuuuuuu
3mo 6mo 1 yr 2 yr 3 yr 5 yr 10 yr 30 yr
6/30/2014
-6/28/2013
28
MPD Operating Loan - through end of 2014 only
Period Accumulated Principal Interest
(Date) Beg Bal Funding Payments Interest End Bal Interest Pmt Pmt
10/1/2011 $ - $ 191,294 $ - $ 319 $ 191,613 $ 319
11/1/2011 191,612.82 - 319.35 191,932.18 638.18
12/1/2011 191,932.18 - 319.89 192,252.07 958.07
1/1/2012 192,252.07 - 320.42 192,572.49 1,278.49
2/1/2012 192,572.49 - 320.95 192,893.44 1,599.44
3/1/2012 192,893.44 - 321.49 193,214.93 1,920.93
4/1/2012 193,214.93 225,000.00 - 697.02 418,911.95 2,617.95
5/1/2012 418,911.95 - 698.19 419,610.14 3,316.14
6/1/2012 419,610.14 - 699.35 420,309.49 4,015.49
7/1/2012 420,309.49 - 700.52 421,010.01 4,716.01
8/1/2012 421,010.01 - 701.68 421,711.69 5,417.69
9/1/2012 421,711.69 - 702.85 422,414.54 6,120.54
10/1/2012 422,414.54 433,706.00 - 1,426.87 857,547.41 7,547.41
11/1/2012 857,547.41 - 1,429.25 858,976.66 8,976.66
12/1/2012 858,976.66 - 1,431.63 860,408.28 10,408.28
1/1/2013 860,408.28 250,000.00 - 1,850.68 1,112,258.96 12,258.96
2/1/2013 1,112,258.96 - 1,853.76 1,114,112.73 14,112.73
3/1/2013 1,114,112.73 - 1,856.85 1,115,969.58 15,969.58
4/1/2013 1,115,969.58 - 1,859.95 1,117,829.53 17,829.53
5/1/2013 1,117,829.53 19,692.58 1,863.05 1,100,000.00 19,692.58 19,692.58
6/1/2013 1,100,000.00 10,121.48 1,833.33 1,091,711.85 21,525.91 8,288.15 1,833.33
7/1/2013 1,091,711.85 10,121.48 1,819.52 1,083,409.89 23,345.43 8,301.96 1,819.52
8/1/2013 1,083,409.89 - 10,121.48 1,805.68 1,075,094.10 25,151.12 8,315.80 1,805.68
9/1/2013 1,075,094.10 - 10,121.48 1,791.82 1,066,764.44 26,942.94 8,329.66 1,791.82
10/1/2013 1,066,764.44 - 10,121.48 1,777.94 1,058,420.90 28,720.88 8,343.54 1,777.94
11/1/2013 1,058,420.90 - 10,121.48 1,764.03 1,050,063.46 30,484.92 8,357.45 1,764.03
12/1/ 2013_1 ,050,063.46__- __10,121.48 _ 1,750.11_ 1,041,692.08__32,235.02 _ 8,371.371,750.11
1/1/2014 1,041 - ,692.08 10,121.48 1,736.15 1,033,306.76 33,971.18 8,385.33 1,736.15
2/1/2014 1,033,306.76 10,121.48 1,722.18 1,024,907.45 35,693.35 8,399.30 1,722.18
3/1/2014 1,024,907.45 10,121.48 1,708.18 1,016,494.15 37,401.53 8,413.30 1,708.18
4/1/2014 1,016,494.15 10,121.48 1,694.16 1,008,066.83 39,095.69 8,427.32 1,694.16
5/1/2014 1,008,066.83 10,121.48 1,680.11 999,625.46 40,775.80 8,441.37 1,680.11
6/1/2014 999,625.46 10,121.48 1,666.04 991,170.02 42,441.84 8,455.44 1,666.04
7/1/2014 991,170.02 10,121.48 1,651.95 982,700.49 44,093.79 8,469.53 1,651.95
8/1/2014 982,700.49 10,121.48 1,637.83 974,216.85 45,731.63 8,483.65 1,637.83
9/1/2014 974,216.85 10,121.48 1,623.69 965,719.06 47,355.32 8,497.79 1,623.69
10/1/2014 965,719.06 10,121.48 1,609.53 957,207.11 48,964.85 8,511.95 1,609.53
11/1/2014 957,207.11 10,121.48 1,595.35 948,680.98 50,560.20 8,526.13 1,595.35
12/1/2014 948,680.98 10,121.48 1,581.13 940,140.63 52,141.33 8,540.34 1,581.14
Prior
urrent
29
PAYMENT BEGINNING
DUE DATE BALANCE
Capital Loan to MPD Repayment Schedule
PRINCIPAL INTEREST
PAYMENT RATE
INTEREST
PAYMENT ENDING
2/1/2013
6/1/2013 1,000,000.00
12/1/2013 949,268.33
6/1/2014 901,009.43
12/1/2014 852,328.26
6/1/2015 803,221.13
12/1/2015 753,684.31
6/1/2016 703,714.05
12/1/2016 657,176.98
6/1/2017 609,976.75
12/1/2017 562,103.92
6/1/2018 513,548.90
12/1/2018 464,301.97
6/1/2019 414,353.27
12/1/2019 366,075.34
6/1/2020 316,831.85
12/1/2020 266,603.49
6/1/2021 215,370.56
12/1/2021 163,112.97
6/1/2022 109,810.23
12/1/2022 55,441.43
30
Amount loaned to the MPD
(50,731.67) 0.02
(48,258_ _____
(48,258.90) 0.02_
__
(48,681.17) 0.02
(49,107.13) 0.02
(49,536.82)
(49,970.26)
(46,537.07)
(47,200.23)
(47,872.83)
(48,555.02)
(49,246.93)
(49,948.70)
(48,277.93)
(49,243.49)
(50,228.36)
(51,232.93)
(52,257.59)
(53,302.74)
(54,368.80)
(55,441.43)
0.02
0.02
0.03
0.03
0.03
0.03
0.03
0.03
0.04
0.04
0.04
0.04
0.04
0.04
0.04
0.04
1,000,000.00
(5,833.33) 949,268.33
(8,306.10)_ 901,009.43
(7,883.83) 852,328.26
(7,457.87)
(7,028.18)
(6,594.74)
(10,027.93)
(9,364.77)
(8,692.17)
(8,009.98)
(7,318.07)
(6,616.30)
(8,287.07)
(7,321.51)
(6,336.64)
(5,332.07)
(4,307.41)
(3,262.26)
(2,196.20)
(1,108.83)
(131,285.26)
803,221.13
753,684.31
703,714.05
657,176.98
609,976.75
562,103.92
513,548.90
464,301.97
414,353.27
366,075.34
316,831.85
266,603.49
215,370.56
163,112.97
109,810.23
55,441.43
0.00
Prior
Current
f
TO:
City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
Mayor Haggerton
Finance and Safety Committee
FROM: Peggy McCarthy, Finance Director
BY: Jennifer Ferrer -Santa Ines, Senior Fiscal Coordinator
DATE: September 9, 2014
SUBJECT: Sales Tax and Miscellaneous Revenue Report - 2nd Quarter 2014
Schedule I -Sales Tax
in $1,000's
Total sales tax collections for the second quarter were $54K below the same quarter in the
previous year. New construction sales tax collection for second quarter was $155K lower
compared to the same quarter in the previous year resulting in a 46% decrease.
As of June 30th, the City has collected $568,606 in sales tax mitigation, which is 47% of the
annual mitigation budget.
Sales tax collections through the month of August are nearly 50% of the annual budget.
Projections for the remainder of the year assumes an increase of 4.0% over monthly budget.
31
2013 Actual
2014 Actual
YOY Change
-- Month --
Collected Reed
New j Other j Total
Construc- I Industries I
tion
New j Other j
Construc -I Industries I
tion
Total
New Construction j
Amount % I
Other Industries j Total
Amount % I Amount
Jan
Mar
$ 76
$ 1,038 �
$ 1,114
$ 57 �
$ 1,049 '
$ 1,106
$ (19)
-25 %;
$ 11
1 %; $ (8)
-1%
Feb
Apr
77
1,127
1,204
34
1,047
1,081
(43)
-56 %I
(80)
7 %I (123)
-10%
Mar
May
86 ;
1,191 ;
1,277
56 ;
1,265 ;
1,321
(30)
-35 %;
74
6 %; 44
3%
Q -1 Totals
$ 239 ,
3,356 !
$ 3,595
$ 147 !
3,361 ,
$ 3,508
$ (92)
-38%!
5
0%! $ (87)
-2%
Apr
Jun
1171
1,1091
1,226
571
1,1351
1,192
(60)
-51 %!
26
2%! (34)
-3%
May
Jul
1191
1,1651
1,284
531
1,201 1
1,254
(66)
-55 %I
36
3 %I (30)
-2%
Jun
Aug
104 j
1,264 j
1,368
75 j
1,303 j
1,378
(29)
-28 %j
39
3 %j 10
1%
Q -2 Totals
$ 340 j
3,538 j
$ 3,878
$ 185 j
3,639 j
$ 3,824
$ (155)
-46 %j
101
3 %j $ (54)
-1%
YTD thru 2nd Qtr
$ 579 I
6,894 I
$ 7,473
$ 332 I
7,000 I
$ 7,332
$ (247)
-43 %1
106
2%: $ (141)
-2%
Jul
Sep
101 ;
1,300 ;
1,401
Aug
Oct
105 .
1,240 !
1,345
- I
I
I
Sep
Nov
108 !
1,227 I
1,335
-
_
_
_
_I
Q -3 Totals
$ 314 !
3,767 !
$ 4,081
$ - !
- 1
$ -
$ -
-1
-
-1 $ -
$ -
Oct
Dec
921
1,1571
1,249
I
I
-I
-
-I -
Nov
Jan
102 j
1,248 j
1,350
- 1
- 1
-
-
-1
-
-1 -
Dec
Feb
75 j
1,660 j
1,735
I
I
-1
-
-1 -
Q-4 Totals
$ 269 �
4,065 �
$ 4,334
$ -
$
$
$
$
Totals
$ 1,162 ;
14,726 ;
$ 15,888
I
$ 332 ;
I
7,000 ;
$ 7,332
$ (247)
I
-
106
I
-; $ (141)
-
Total sales tax collections for the second quarter were $54K below the same quarter in the
previous year. New construction sales tax collection for second quarter was $155K lower
compared to the same quarter in the previous year resulting in a 46% decrease.
As of June 30th, the City has collected $568,606 in sales tax mitigation, which is 47% of the
annual mitigation budget.
Sales tax collections through the month of August are nearly 50% of the annual budget.
Projections for the remainder of the year assumes an increase of 4.0% over monthly budget.
31
32
INFORMATIONAL MEMO
Page 2
Schedule I - Sales Tax in $1,000's
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
-- Month --
Collected Recd
2013
2014
Actual
Budget
Actual
Variance [Act
Over(Under) Bdgt]
Amt ok
Jan
Mar
$ 1,114
$ 1,077
$ 1,106
$ 29
3%
Feb
Apr
1,204
1,069
1,081
12
1%
Mar
May
1,277
1,274
1,321
47
4%
Q -1 Totals
$ 3,595
$ 3,420
3,508
$ 88
3%
Apr
Jun
1,226
1,150
1,192
42
4%
May
Jul
1,284
1,181
1,254
73
6%
Jun
Aug
1,368
1,321
1,378
57
4%
Q -2 Totals
$ 3,878
$ 3,652
$ 3,824
$ 172
5%
YTD thru 2nd Qtr
$ 7,473
$ 7,072
$ 7,332
$ 260
4%
Jul
Sep
1,401
1,304
-
-
-
Aug
Oct
1,345
1,246
-
-
-
Sep
Nov
1,335
1,281
-
-
-
Q -3 Totals
$ 4,081
$ 3,831
$ -
$ -
-
Oct
Dec
1,249
1,172
-
-
-
Nov
Jan
1,350
1,230
-
-
-
Dec
Feb
1,735
1,705
-
-
-
Q -4 Totals
$ 4,334
$ 4,107
$ -
$ -
-
Totals $ 15,888 $ 15,010
$ 7,332 $ 260
-
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
INFORMATIONAL MEMO
Page 3
Below is a graph of sales tax collections by type of industry showing overall change in the first
and second quarters in 2013 revenue receipts throught the second quarter in 2014.
Change YTD by Category*
$100,000
WholesaleTrade,
$65,682
Services,,
$80,779
$50,000
Automotive,
1
$34,611
Reta i I Trade,
$38,131
$(50,000)
IUi
sportation /Wa rehousing
$(2,574)
$(100,000)
$(150,000)
$(200,000)
$(250,000)
Manufacturing,
$(64,004)
($44 636)
($248 016)
Construction
$(300,000)
The overall construction decrease shown above is primarily due to the Construction of Buildings
category. Decrease in manufacturing is partialy due to Transportation Equipment
Manufacturing category, which show a decline in gross sales activity. The miscellaneous
category includes activities from unclassifiable establishments. Variance from this category is
primarily due to 2013 activity from trust type organizations, which are not reported under a
specific NAICS code. This same type of transaction did not reoccur in first quarter 2014
resulting in the negative variance.
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
33
34
INFORMATIONAL MEMO
Page 4
Schedule II shows the year -to -date sales tax from the top ten industry classifications. Wholesale
Trade, Durable Goods category had the highest year over year increase at $47,946, where at
least three establishment's gross sales doubled or better this year as compared to 2013. This is
followed by an increase of $39,033 in Miscellaneous Store Retailers category. This increase is
attributable to a significant rise in sales from one particular retailer who delivers payment
solutions to its customers.
Schedule II
YTD YTD Dollar
Group Name Current Prior Diff. Diff.
* 452 General Merchandise Stores $ 457,216.05 $ 466,670.02 $ (9,454) -2.03%
* 448 Clothing and Accessories $ 408,312.42 $ 447,896.05 $ (39,584) -8.84%
* 722 Food Services, Drinking Places $ 368,046.80 $ 358,380.15 $ 9,667 2.70%
* 443 Electronics and Appliances $ 231,481.44 $ 219,582.46 $ 11,899 5.42%
* 423 Wholesale Trade, Durable Goods $ 221,554.05 $ 211,485.79 $ 10,068 4.76%
* 453 Miscellaneous Store Retailers $ 180,060.33 $ 165,322.25 $ 14,738 8.91%
* 441 Motor Vehicle and Parts Dealer $ 150,336.43 $ 140,120.17 $ 10,216 7.29%
* 444 Building Material and Garden $ 121,708.61 $ 118,007.71 $ 3,701 3.14%
* 451 Sporting Goods, Hobby, Books $ 121,533.13 $ 128,974.84 $ (7,442) -5.77%
517 Telecommunications $ 119,501.04 $ 109,581.23 $ 9,920 9.05%
* Mitigated NAICS Code
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date. The Construction of Buildings category resulted in a 61 % decrease from
the prior year due to significant decrease in construction activity from at least four major
contractors. Permiting activity to date reported a slight decline of 5% in the # of permits issued.
Schedule Ill
YTD YTD Dollar
Group Name Current Prior Diff. Diff.
999 Nonclassifiable Establishments $ 44,223.34 $ 144,238.43 $ (100,015) - 69.34%
236 Construction of Buildings $ 74,747.30 $ 162,909.50 $ (88,162) - 54.12%
* 448 Clothing and Accessories $ 408,312.42 $ 447,896.05 $ (39,584) -8.84%
336 Transportation Equipment Man $ 33,164.24 $ 55,116.29 $ (21,952) - 39.83%
621 Ambulatory Health Care Service $ 10,750.14 $ 21,194.86 $ (10,445) - 49.28%
* 452 General Merchandise Stores $ 457,216.05 $ 466,670.02 $ (9,454) -2.03%
522 Credit Intermediation $ 12,921.88 $ 21,843.91 $ (8,922) - 40.84%
* 451 Sporting Goods, Hobby, Books $ 121,533.13 $ 128,974.84 $ (7,442) -5.77%
511 Publishing Industries $ 23,769.02 $ 29,489.64 $ (5,721) - 19.40%
611 Educational Services $ 11,819.55 $ 16,351.98 $ (4,532) - 27.72%
* Mitigated NAICS Code
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
INFORMATIONAL MEMO
Page 5
The next two pages show graphs of sales tax receipts the City collected from major industries
between 2010 through the current year. These categories include retail, services, wholesale,
construction, and other consisting of manufacturing, transportation & warehousing, automotive,
and miscellaneous.
$2,400,000
$2,300,000
$2,200,000
$2,100,000
$2,000,000
$1,900,000
$1,800,000
$1,700,000
$1,600,000
$1,500,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
Retail
Q1
Q2
Services
Q3
Q4
Q1
Q2
Q3
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
Q4
35
36
INFORMATIONAL MEMO
Page 6
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$-
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$-
Wholesale
Q1
Q2
Q3
Construction
Q4
I
Q1
Q2
Q3
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
Q4
111111111111 2010
111111111111 2011
Illll 2012
111111111111 2013
IN 2014
INFORMATIONAL MEMO
Page 7
Other -Mfg. Trnsp /Wrhsng, Automotive, &
Misc.
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$-
Q1
Q2
Q3
Q4
Revenue received from mitigation has been consistent. The City received $7.9 million in sales
tax and mitigation throught the second quarter.
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
37
38
INFORMATIONAL MEMO
Page 8
Below is Schedule IV which shows quarterly gambling tax earned for the prior year, and the
current year to date.
Schedule IV - Gambling Tax tat
Quarter
Earned
2013
Actual
(c)
2014
Actual
2014
Prorated
Budget
INCREASE (DECREASE)
YEAR OVER YEAR BUDGET VARIANCE
Amount % Amount
Q1
$ 557,272
$ 678,358
$ 537,068
$ 121,086
21.73%
$ 141,290
26.31%
Q2
630,650
666,716
537,068
36,066
5.72%
129,648
24.14%
YTD
1,187,922
1,345,074
1,074,136
157,152
13.23%
270,938
25.22%
Q3
522,196
-
537,069
-
-
-
-
Q4
583,347
-
537,069
-
-
-
-
Totals
$ 2,293,465
$ 1,345,074
$ 2,148,274
$ 157,152
-
$ 270,938
-
Compared to 2013 first and second quarter combined totals, the City has collected
approximately 13% more in gambling revenue due to higher receipts.
Schedule V shows monthly admissions tax receipts for the prior year and current year to date.
Schedule V - Admissions Tax t°)
Quarter
Earned
2013
Actual
(c)
2014
Actual
2014
Prorated
Budget
INCREASE (DECREASE)
YEAR OVER YEAR BUDGET VARIANCE
Amount % Amount %
Q1
$ 111,254
$ 135,045
$ 137,500
$ 23,791
21.38%
$ (2,455)
-1.79%
Q2
158,396
149,487
137,500
(8,909)
-5.62%
11,987
8.72%
YTD
269,650
284,532
275,000
14,882
5.52%
9,532
3.47%
Q3
154,463
-
137,500
-
-
-
-
Q4
203,324
-
137,500
-
-
-
-
Totals
$ 627,437
$ 284,532
$ 550,000
$ 14,882
-
$ 9,532
-
Admissions tax receipts are 3.5% above budget as indicated for first and second quarter
combined totals, and about 5.5% above prior year actual receipts.
Attachments
• Sales Tax Summary
(a)
(b)
(c)
Gambling tax currently includes card games, punch boards, pull tabs, and amusement games.
Excludes golf course admissions tax.
Actuals reflected in Schedules IV and V are amounts earned through second quarter 2014.
W: \FIN Projects \Sales Tax Information\2014 \Info Memo Sales Tax - 2014 -Q2 2014MEMO.docx
SALES TAX SUMMARY
2nd Quarter 2014 (Received in March 2014 - Aug 2014)
NAICS CONSTRUCTION 13 TOTAL
236 Construction of Buildings 716,944
237 Heavy 8 Civil Construction 111,237
238 Specialty Trade Contractors 334,704
TOTAL CONSTRUCTION S 1,162,885 S
Overall Construction Change from Previous Year
MANUFACTURING
311 Food Manufacturing
312 Beverage & Tobacco Products
313 Textile Mills
314 Textile Product Mills
315 Apparel Manufactunng
316 Leather & Allied Products
321' Wood Product Manufacturing
322' Paper Manufactunng
323' Printing & Related Support
324 Petroleum & Coal Products
325 Chemical Manufacturing
326 Plastic 8 Rubber Products
327' Nonmetallic Mineral Products
331 Primary Metal Manufacturing
332 Fabricated Metal Mfg Products
333 Machinery Manufacturing
334' Computer 8 Electronic Products
335 Electric Equipment, Appliances
336 Transportation Equipment Mfg
337' Furniture & Related Products
r339' Miscellaneous Manufacturing
TOTAL MANUFACTURING S
13 TOTAL
13 YTD
408.390
22,628
148,494
519,512 S
9:926
5.267
670
11,042
685
3
1:611
24:030
28:377
23
6.273
4 565
4.655
1,150
21,801
5 062
6.719
4,944
251,447
11.025
13,014
412,288 S
13 YTD
5,188
2.761
290
4,974
334
2
YTD
14YTD %Dill
160,922 - 60.6%
23,096 2.1%
147.478 -0.7%
331,496
($248,016) -42.8%
974
12,277
14,759
10
3,068
2,584
1913
252
11,663
2,664
4 806
409
118335
4.459
6,346
Overall Manufacturing Change from Previous Year
TRANSPORTATION & WAREHOUSING
481 Air Transportation
482 Rail Transportation
484 Truck Transportation
485 Transit and Ground Passengers
487 Scenic and Sightseeing Tran
488 Transportation Support
491 Postal Services
492 Couriers & Messengers
I 493' Warehousing & Storage
TOTAL TRANSP & WHSING
Overall Transpo
WHOLESALE TRADE
423' Whls Trade - Durable Goods
424' Whls Trade - Nondurable Goods
425' Wholesale Electronic Markets
13 TOTAL
153
1.597
5,820
395
876
39,511
529
787
746
S 50,413 S
n Change from Previous Year
13 TOTAL
975.482
132,473
2,819
198,069 S
13 YTD
0
1,581
2.167
218
425
18,787
229
155
YTD
14 YTD % Diff
2,978 -42.6%
2,509 -9.1%
266 -8.3%
5,345 7.5%
200 -40.2%
i - 72.6%
1.253 28.6%
12,254 -0.2%
11,776 -20.2%
12 17.9%
3,624 18.1%
1,968 -23.8%
2,322 21.4%
2,333 824.9%
3,339 - 71.4%
4,468 67.7%
2,395 - 50.2%
1,529 273.6%
61.157 -48.3%
5.182 16.2%
9,155 44.3%
134,065
664.004) -32.3%
451
24,013 S
13 YTD
446,388
60.733
1,667
WHOLESALE TRADE TOTAL S 1,110,174 S
Overall Wholesale Change from Previous Year
ales Tax Mitigation NAICS Codes
508,787 S
NAICS AUTOMOTIVE 13 TOTAL
441' Motor Vehicle 8 Parts Dealer 615,272
447' Gasoline Stations 75,449
TOTAL AUTOMOTIVE S 690,721 S
Overall Automotive Change from Previous Year
NAICS
442'
YTD
14 YTD % Diff
0 0.0%
27 - 98.3%
1,188 -45.2%
448 105.4%
637 0.0%
18,426 -1.9%
230 0.0%
138 - 10.6%
345 - 23.5%
21,439
($2,574) -10.7%
YTD
14YTD %Diff
494,333 10.7%
78.680 29.6%
1,456 -12.6%
574,469
$65,682 12.9%
RETAIL TRADE
Fumiture & Home Furnishings
Electronics & Appliances
Building Material & Garden
5' Food 8 Beverage Stores
13 YTD
287,852
34,330
322,182 S
13 TOTAL 13 YTD
408:005 190,305
997.182 444,683
565,653 278,423
206.924 98,106
101.536
446' Health & Personal Care 219,169
448' Clothing & Accessories 2,071.810 934,443
' 451' Sporting Goods. Hobby: Books 568.945 259.161
452' General Merchandise Stores 2.154 523 963.686
453' Miscellaneous Store Retailers 692.525 322.763
454' Nonstore Retailers 174.653 77.097
TOTAL RETAIL TRADE $ 8,059,390 S 3,670,204 $
Overall General Retail Change from Previous Year
YTD
14YTD %Dili
316,889 10.1%
39,903 16.2%
356,192
$34,611 10.7%
14 YTD %Diff
219,245 15.2%
443,995 -0.2%
289,122 3.8%
99,105 1.0%
18.0%
893,974 -4.3%
255,095 -1.6%
945,793 -1.9%
361,796 12.1%
80,372 4.2%
3,708,335
$38,131 7.0%
SERVICES 13 TOTAL 13 YTD
51X Information 587,449 292,940
52X Finance & Insurance 97,434 47.172
53X Real Estate, Rental. Leasing 464,703 190,720
541 Professional, Scientific. Tech 286,461 126,916
551 Company Management 29 29
56X Admin, Supp, Remed Svcs 181,408 110,829
611 Educational Services 58,682 32,269
620 Health Care Social Assistance 91,502 47,236
71X Arts & Entertainment 133,647 64.811
72X' Accommodation & Food Svcs 2.031,720 974,242
81X Other Services 216,087 105,418
92X Public Administration 61.978 33.508
TOTAL SERVICES S 4,211,101 $ 2,026,089 S
Overall Services Change from Previous Year
MISCELLANEOUS 13 TOTAL
000 Unknown 0
111 -115 Agriculture, Forestry, Fishing 668
211 -221 Mining & Utilities 2,071
999 Unclassifiable Establishments 187,778
MISCELLANEOUS TOTAL S 190,517 S
Overall Miscellaneous Change from Previous Year
13 TOTAL
13 YTD
YTD
14 YTD % Diff
330,622 12.9%
37,469 -20.6%
203,148 6.5%
167,047 31.6%
0 - 100.0%
61,770 -44.3%
25,135 - 22.1%
38,420 - 18.7%
69,653 7,5%
1,030,951 5.8%
109,856 4.2%
32,797 -2.1%
2,106,869
$80,779 4.0%
90
278
143.526
143,893 S
13 YTD
GRAND TOTALS
515,888,089
57,472,749
Grand Total Change from Previous Year
Grand Total Change from Previous Year - Without New Construction
YTD
14YTD %Diff
49,474 0.0%
244 171.7%
364 31,2%
49,175 -65.7%
99,257
($44,636) -31.0%
YTD
14 YTD % Diff
57,332,723
($140,027) -1.87%
$107,989 1.57%