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HomeMy WebLinkAbout2015-10-06 Finance and Safety Minutes4 City of Tukwila Finance and Safety Committee FINANCE AND SAFETY COMMITTEE Meeting Minutes October 6, 2015 — 5:30 p.m.; Hazelnut Conference Room PRESENT Councilmembers: Kathy Hougardy, Chair; De'Sean Quinn, Joe Duffie Staff: Stephanie Brown, Derek Speck, Mary Miotke, Brandon Miles, Vicky Carlsen, Laurel Humphrey CALL TO ORDER: Chair Hougardy called the meeting to order at 5:30 p.m. I. PRESENTATIONS No presentations. II. BUSINESS AGENDA A. Contract Amendment: Human Resources Operations and Strategic Plan Staff is seeking Council approval of a contract amendment with John Luthy of the Futures Corporation to fund his services toward operations and strategic plan development for the Human Resources, Finance, and Parks and Recreation Departments. The request is to amend the contract for an additional $25,000, not to exceed $50,000. The departments each have funding available to cover this cost. Committee members were supportive of this ongoing work, citing the successful partnership between Mr. Luthy and the Technology Services Department, and requested that staff expand the informational memo to include detail on his qualifications and the expected outcomes. UNANIMOUS APPROVAL. FORWARD TO OCTOBER 19, 2015 REGULAR CONSENT AGENDA. B. Ordinances and Resolution: Fee Deferral Program Staff is seeking Council approval of a fee deferral program to be implemented in the Transit Oriented Development (TOD) area of the Southcenter zone in order to encourage residential development. Council gave direction at the May 11, 2015 Committee of the Whole meeting for staff to prepare the legislation that would support this program, which comprises three ordinances and one resolution. A fee deferral program is an option that allows developers to pay certain fees, normally due upon permit issuance, closer to the time when revenues can be collected from the project. If approved by Council, the program would apply to the Washington Place project currently under construction as well as future residential developments in the TOD area. Staff explained the terms and provisions applicable to impact fee deferral and building permit fee deferral as outlined in the memo and the draft legislation. Under this program, revenues will not be reduced. Interest will be charged on all fees deferred, based on the ten year US Treasury note for impact fee deferral and the two year US Treasury note for building permit fee deferral. Finance & Safety Committee Minutes October 6, 2015 - Page 2 Following discussion with staff, Committee members expressed continued support for the fee deferral program. They recommended forwarding with approval the following items to the Committee of the Whole: • Ordinance adding a Transportation Impact Fee Deferral process in the TMC • Ordinance adding a Parks Impact Fee Deferral process in the TMC • Ordinance adding a Fire Impact Fee Deferral process in the TMC • Resolution adding a Building Permit Fee Deferral process to the consolidated permit fee schedule. UNANIMOUS APPROVAL. FORWARD TO OCTOBER 12, 2015 COMMITTEE OF THE WHOLE. C. 2015 2nd Quarter Cash and Investment Report Staff reviewed the 2nd Quarter Cash and Investment Report for 2015, including information on the City's portfolio components, performance, policy compliance and liquidity analysis, fund cash and investment balances, and investment environment. At June 30, 2014, the portfolio totaled $52.5 million comprising $9.4 million in cash and cash equivalents and $13.1 in longer term investments. This represents an $8.7 million increase from the March 31, 2015 balance, attributable to the collection of property taxes in the 2nd quarter. Additionally, bond proceeds of $5.8 million were received in April for the arterial street fund. INFORMATION ONLY. III. MISCELLANEOUS Meeting adjourned at 6:00 p.m. Next meeting: Tuesday, October 20, 2015 — 5:30 p.m. — Hazelnut Conference Room +' Committee Chair Approval Minutes by LH