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Home My WebLink AboutFIN 2018-02-21 Item 2C - Public Safety Plan - FinancingCity of Tukwila Allan Ekberg, Mayor INFORMATIONAL MEMORANDUM TO: Finance Committee FROM: Rachel Bianchi CC: Mayor Ekberg DATE: February 12, 2018 SUBJECT: Financing the Public Safety Plan (Updated from February 6 Meeting) NOTE: Because this topic is building on previous Committee meetings, the original memo has been updated in underline font below. This intent is to continue to preserve the information from one meeting to the next given that each discussion will build upon the previous. ISSUE Due to market conditions and cost escalation, the City has a significant gap in the Public Safety Plan budget. The Finance Committee has been tasked with reviewing options and identifying potential recommendations for the full Council to consider later this spring. The Justice Center will also finish Schematic Design this spring and will provide for better understanding of the costs associated with that project. Merging these timelines will provide the necessary information for the City Council to provide direction on the next steps on the Public Safety Plan. BACKGROUND Process: Due to the gravity and complexity of this issue, staff worked with the Committee Chair to identify the following schedule for covering the various information associated with tackling the funding gap: February 6, 2018 Finance Committee: • Project costs as known • Overview of voter -approved bonds • Debt capacity and term • Fire Impact Fees • Land sales and other one-time funds • REET 1 February 21, 2018 Finance Committee: • New revenue options March 6, 2018 Finance Committee: • General fund and operations • CIP prioritization March 20, 2018 Finance Committee: • Review project schedule Staff proposes that the Committee review the information presented and provide direction to staff at each meeting as to which options are of interest to the council. Staff will then use the intervening time to build an iterative financial model that can be reviewed and added to at subsequent meetings. For instance, if the Committee is interested in dedicating land sales to filling the gap, this would be a tool we would build into the model and bring back to show you the 17 18 INFORMATIONAL MEMO Page 2 implications as to how that tool — along with others agreed to by the committee — would work together to fill the gap. By the end of this process, the goal is to have a collaboratively built model to inform the full Council and any final decisions. Staff has provided its recommendations after each tool to inform the Council of its position. Project costs as known: Before we discuss tools for filling the gap, it is important that everyone has the same understanding of the current known project costs. Below are the current budget estimates for the Public Safety Plan projects. Fire Station 51 has completed the schematic design phase, allowing for more certainty on the estimates associated with the fire stations. However, the estimate for the Justice Center is carrying many significant costs, such as budget allotted for site preparation and the Public Works facility estimate is the most extreme, assuming none of the buildings on the current site could be reused. The Justice Center will be done with Schematic Design in May and at that point there will be more certainty on the budget estimate. The Public Works facility will not hit that stage until toward the end of this year. Public Safety Plan Project Cost Estimates as of January, 2018 (in millions) Project Initial Budget Updated Gap Fire Station 51 $11,446 $12,509 $1,063 Fire Station 52 $5,657 $17,652 $11,9951 Fire Station 53 $7,329 $14,753 $7,424 Justice Center $28,629 $68,536 $39,907 Public Works Facility $29,493 $63,270 $33,777 Total Gap for Projects $94,166 Utility Fund Gap Obligation for PW ($16,888) Total Unfunded Gap $77,278 The cash flow spreadsheet for the projects, on the current schedule, is attached. Voter -Approved Bonds: The voters approved a $77.4 million bond measure in November 2016. In December 2016, $36.7 million, of these bonds were issued. Based on the cash flow analysis provided by SOJ in December 2017, the remainder of the bond authorization, or $40.6 million, will be needed in 2018 and 2019 to fund property purchases and construction costs. The recommendation is to issue the bonds in the fall of 2018 so the debt service can be included with the 2019 property tax assessments. Debt Capacity and LTGO Bonding: In order to address the Public Safety Plan funding gap, it is likely that the City would need to issue additional bonds, this time councilmanic ones. 1 The headquarters station was moved from Fire Station 51 to Fire Station 52 during the siting phase, technically flipping the budgets for Stations 51 and 52, hence the relatively small gap for 51 and huge one for 52. W:12018 Info Memos\FinancingPSPlan2-21-18.doc INFORMATIONAL MEMO Page 3 State law limits the amount of debt the City can carry. For councilmanic/limited tax general obligation (LTGO) debt, the City is limited to 1.5% of taxable assessed valuation. Total debt (including voted and non -voted debt) is limited to 2.5% of assessed valuation. As of December 31, 2017, the City had capacity for an additional $59 million in councilmanic debt. This number will increase as assessed valuation goes up and existing debt is paid off, providing the City additional capacity in the out years. Bonds are normally issued for a 20 -year term. However, debt payments can be spread over the useful life of the underlying asset. In the case of structures such as the Justice Center and the Fire Stations, the debt payback period could be increased to 30 years since the life of the structures will be 30 or more years. A longer payback period translates into lower annual debt service payments, albeit over a longer period of time. Staff recommendation: Use LTGO bonds to cover the Public Safety Plan gap in a manner that allows for some cushion in the event of an economic downturn; leverage the fact that some existing debt drops off in 2020 and 2024 freeing up additional capacity to pay back the bonds. Fire Impact Fees: Fire impact fees are charged on residential and commercial development to pay for the impact of growth on fire facilities. Fire impact fees, on average, have yielded $120K over the past 9 years, excluding the $500K fire impact fee deposit received in 2017 through the Tukwila South Development Agreement. The City has not increased its fire impacts fees in more than a decade, and there is additional capacity in these fees to support the new fire stations. The update of the fire and park impact fees is scheduled to be presented to the Finance Committee in March, 2018. Should the Council adopt the new impact fees, staff estimates that they would generate between $200,000 and $400,000 per year that could be used to pay off LTGO bonds. An additional $1.5 million in fire impact fees exist today that will be dedicated to the fire station projects. Staff recommendation: Dedicate current and future Fire Impact Fees to the Fire Stations. Land Sales and other one-time funds: The City owns a variety of land that could be sold with the proceeds being dedicated to the Public Safety Plan. Staff estimates there is approximately $15 million in proceeds that could be available to fill the gap. Potential land sales include: • Newporter site • Tukwila Village Phases 1, 2 and 3 • Longacres site • Old Fire Station 53 site • Current Fire Station 51 • Current Fire Station 52 • Current Fire Station 54 • George Long Shops • Minkler Shops Additionally, the City currently has $3 million in the 301 fund for parks acquisition from REET 1. The Council recently gave the authority for REET 1 to be used for the Public Safety Plan and this funding could be dedicated to the public safety plan in a one-time manner similar to the land sales. W:12018 Info Memos\FinancingPSPlan2-21-18.doc 19 INFORMATIONAL MEMO Page 4 Staff recommendation: Dedicate land sales identified above and the $3 million in the 301 fund to the Public Safety Plan. Ongoing REET 1: The City also has the opportunity to dedicate REET 1 funding to the Public Safety Plan moving forward. Given historical REET 1 accruals, staff believes that approximately $500,000 per year could be dedicated to the Public Safety Plan gap. Staff recommendation: Dedicate ongoing REET 1 to the Public Safety Plan; funds above $500,000 per year would go to parks acquisition. Outcome of February 6, 2018 Finance Committee After the February 6, 2018 Finance Committee, staff used the discussion to begin building the iterative model discussed on page one of this memo. There are two different versions of the model attached, one that shows 20 -year councilmanic bonds and one that uses a 30 -year span. Both include the full cost of debt service and annual payment necessary to repay the bonds. Also included in this phase of the model are identified land sales and one-time funds available to dedicate to the Public Safety Plan, as well as ongoing REET 1. The new revenue options on the attachment are meant to be potential tools for Council to deliberate as it considers how to repay councilmanic bonds, should the Council choose to move forward with those tools. However, it is not the recommendation of staff that the entire bonds be paid back with new revenues, nor that each of these revenues should be used. As identified in the schedule above, the Committee will also be reviewing operational changes that could occur to find existing funds to dedicate to the Public Safety Plan projects. Additionally, the Committee will review the project's existing schedule to determine whether there should be some deviation. New Revenue Options Attached is a spreadsheet of new revenue options available to Council to make decisions regarding the Public Safety Plan funding gap. Staff recognizes that some options may not be palatable to the Council but has provided them in order to give a complete picture of the funding tools available. Where possible, we have provided context for neighboring jurisdictions' rates and specific information on amount available, mechanisms and types. Staff will discuss each option with the Committee in detail at the February 21, 2018 Finance Committee meeting. Outstanding Questions from the February 6, 2018 Finance Committee The Committee asked for the following information and/or clarification to assist in making decisions on filling the Public Safety Plan gap: • Provide the debt chart that Vicky Carlsen has previously shared in order to get a better understanding of the long-term implications of existing and any future councilmanic debt. See attached. • Provide information of what the implications are of 20 -year vs. 30 -year councilmanic bonds. See two attached versions of the model. •Report by year on what has been paid to the City for Fire Impact fees since they were implemented. See attached document. 20 W:12018 Info Memos\FinancingPSPlan2-21-18.doc INFORMATIONAL MEMO Page 5 • Provide an estimate of what the Public Safety Plan would pay in impact fees. Because the City is in the middle of updating its impact fees, we cannot calculate this information at this time. Staff will do this once impact fees are updated, scheduled in the first quarter of 2018. • Indicate whether an automatic escalator can be included in the impact fees update coming before Council shortly. An escalator has been included in the impact fees legislation coming before Council. • Provide information on Parks' REET 1 expenditures. In 2018, Parks intends to spend REET 1 funds on the following: o Second Doq Park o TCC Lobby Improvements o Trail Repairs o Fort Dent Overlay o TCC Seismic Evaluation •What is the recommendation for when the Committee brings the full recommendations to Council? Staff recommends that the Finance Committee initiates the meeting with the full Council in early May so that there are multiple opportunities to have this discussion and deliberations. RECOMMENDATION Staff is seeking committee interest in the various tools presented today. At the next Committee meeting there will be a full discussion of the various potential new revenue tools the Committee may want to employ to fill the funding gap. Subsequent to that meeting, the Committee will also discuss any potential general fund obligations that could be used for the gap. This direction will allow staff to build a model based on the Council's priorities and Administration recommendations. Finally, a discussion on the project schedule and potential cost implications of accelerating/delaying projects, can be placed into the model to understand the cash flow and facility ramifications. ATTACHMENT Public Safety Plan Cash Flow DRAFT Iterative Model, 20 -year version DRAFT Iterative Model, 30 -year version New Revenue Matrix Adopted Debt Chart Adopted Debt Chart Graph Existing Debt Chart Existing Debt Chart Graph Fire Impact Fees Revenues W:12018 Info Memos\FinancingPSPlan2-21-18.doc 21 22 Updated February 6, 2018 City of Tukwila - Facilities Plan Conceptual Cash Flow Plan YOE $ (in thousands) based on Budget updates through January 30,2018 Justice Center 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 01 Q2 Q3 Q4 01 Q2 Q3 Q4 01 Q2 Category Construction Costs Site Acquistion Soft Costs YOE$ (x$1K) $35,555 OK $14,269 OK $17,090 OK TOTAL $66,913 $ - $ 36 $ 449 $ $ $ $ - $ 1,346 $ 12,387 $ - $ 400 $ 854 $ 854 $ 854 $ 1,196 $ 4,267 $ 6,044 $ 7,822 $ - $ - $ - $ 1,709 $ 1,709 $ 1,709 $ 8,178 $ 6,400 $ 2,844 $ - $ - $ - $ - $ - $ 1,709 $ 1,709 $ 1,709 $ 833 $ - $ $ - $ $ - $ $ 85 $ 485 $ 2,201 $ 13,241 $ 854 $ 1,596 $ 1,809 $ 5,976 $ 7,753 $ 9,531 $ 9,887 $ 8,109 $ 4,553 $ 833 $ - $ Fire Station 51 2016 2017 2016 2017 Q1 2018 Q4 Q1 2019 Q4 Q1 2020 Q4 2021 Q2 Q3 Q2 Q3 Q2 Q3 Q1 Q2 Q1 Q2 Category YOE$ (x$1K) Construction Costs $31,568 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 947 Construction Costs $ 4,735 $8,005 OK $ - $ - $ - $ - $ - $ 80 $ 1,201 $ 1,601 $ 2,001 $ 1,761 $ 1,121 $ 240 $ - $ - $ - $ Site Acquistion $ - $0 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Soft Costs $ 777 $4,503 OK $ 23 $ 185 $ 180 $ 225 $ 360 $ 540 $ 540 $ 540 $ 540 $ 540 $ 450 $ 378 $ - $ - $ - $ - $ 303 TOTAL $12,508 $ 812 $ 23 $ 185 $ 180 $ 225 $ 360 $ 620 $ 1,741 $ 2,141 $ 2,542 $ 2,302 $ 1,571 $ 618 $ - $ - $ - $ - Fire Station 52 2018 2018 2019 2021 2020 2016 2021 2016 2017 reuse of existing building) Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Category YOE$ (x$1K) Construction Costs Construction Costs $11,297 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 226 $ 2,824 $ 3,389 $ 2,824 $ 1,469 $ 565 $ Site Acquistion $ 3,824 $0 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Soft Costs $ - $6,355 OK $ 32 $ 238 $ 127 $ 127 $ 318 $ 318 $ 508 $ 508 $ 635 $ 635 $ 635 $ 635 $ 635 $ 635 $ 366 $ - $ 471 TOTAL $17,652 $ 942 $ 32 $ 238 $ 127 $ 127 $ 318 $ 318 $ 508 $ 508 $ 635 $ 861 $ 3,460 $ 4,024 $ 3,460 $ 2,104 $ 931 $ - Fire Station 54 $ 505 $ 16,587 $ 471 $ 471 $ 565 $ 2,854 2018 $ 3,810 $ 4,766 2019 $ 2,543 $ 2,321 2020 2021 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Category YOE$ (x$1K) Construction Costs $8,896 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 178 $ 2,224 $ 2,669 $ 2,224 $ 1,156 $ 445 $ Site Acquistion $854 OK $ - $ 0 $ 854 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Soft Costs $5,004 OK $ 25 $ 98 $ 100 $ 100 $ 250 $ 250 $ 400 $ 400 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 378 $ - TOTAL $14,753 $ 25 $ 99 $ 954 $ 100 $ 250 $ 250 $ 400 $ 400 $ 500 $ 678 $ 2,724 $ 3,168 $ 2,724 $ 1,657 $ 822 $ - City Shops (PW5 Site - w/Surface Parking) 2016 2017 Q1 2018 Q4 Q1 2019 Q4 01 2020 Q4 2021 Q2 Q3 02 Q3 Q2 Q3 Q1 Q2 Category YOE$ (x$1K) Construction Costs $31,568 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 947 $ 4,735 $ 4,735 $ 6,314 $ 6,314 $ 5,367 $ 3,157 Site Acquistion $16,277 OK $ - $ 24 $ 34 $ 69 $ 34 $ 16,116 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Soft Costs $15,548 OK $ - $ 279 $ 777 $ 777 $ 777 $ 777 $ 777 $ 777 $ 933 $ 1,555 $ 1,555 $ 1,554 $ 1,555 $ 1,555 $ 1,042 $ 857 TOTAL $63,393 $ - $ 303 $ 812 $ 846 $ 812 $ 16,893 $ 777 $ 777 $ 933 $ 2,502 $ 6,290 $ 6,289 $ 7,868 $ 7,868 $ 6,408 $ 4,014 City Shops (PW5 Site - w/Surface Parking - assume 2018 2019 2020 2021 2016 2017 reuse of existing building) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Category YOE$ (x$1K) Construction Costs $19,122 OK $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 1,912 $ 2,868 $ 2,868 $ 3,824 $ 3,824 $ 1,912 $ 1,912 Site Acquistion $16,277 OK $ - $ 24 $ 34 $ 69 $ 34 $ 16,116 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Soft Costs $9,418 OK $ - $ 279 $ 471 $ 471 $ 471 $ 471 $ 471 $ 471 $ 565 $ 942 $ 942 $ 942 $ 942 $ 942 $ 631 $ 408 TOTAL $44,817 $ - $ 303 $ 505 $ 540 $ 505 $ 16,587 $ 471 $ 471 $ 565 $ 2,854 $ 3,810 $ 3,810 $ 4,766 $ 4,766 $ 2,543 $ 2,321 RANGE OF PROJECT COSTS (LOW -HIGH) 2016 2017 2018 2019 2020 2021 Q1 Q2 43 Q4 Q1 Q2 43 Q4 Q1 Q2 43 Q4 Q1 Q2 TOTAL PROJECT COSTS LOW HIGH YOE$ (x$1K) $156,644 OK $175,220 OK $ 165 $ 165 $ 1,310 $ 1,310 $ 3,967 $ 14,233 $ 2,288 $ 19,372 $ 4,273 $ 14,539 $ 2,594 $ 19,678 $ 4,930 $ 9,497 $ 11,996 $ 16,226 $ 5,236 $ 9,803 $ 12,364 $ 15,874 $ 21,452 $ 19,729 $ 15,504 $ 9,360 $ 23,932 $ 22,208 $ 18,606 $ 12,462 $ 4,296 $ 2,321 $ 8,161 $ 4,014 N PUBLIC SAFETY PLAN - FINANCIAL PLAN - 20 Year LTGO Amortization 01 2/15/2018 2oyrAmortz_PSPfinPlan B 1 of 2 B D E F G H I J K L M N 0 P Q R S T U 1 TOTAL 2016 2017 2018 2019 2020 1 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 8 Revenues: I I I I I 9 UTGO bond proceeds, Voted 77,385,000 36,709,954 40,675,046 : 10 LTGO bond proceeds, Councilmanic 86,000,000 20,000,000 66,000,000 I I I I I 11 Fire Impact fees & deposit - Segale 4,750,000 500,000 300,000 300,000 300,000 300,000 300,000 I 300,000 300,000 I 300,000 300,000 l 300,000 300,000 I 300,000 300,000 I 350,000 12 Fire Impact fees - other 10,917,000 1,017,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 13 F301, Lnd & Prk Acq contribution 3,000,000 1 3,000,000 14 Property/land sales 15,038,000 5,038,000 ! 3,000,000 2,000,000 5,000,000 I I I I I 15 REET 1 16,500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 16 Interfund loan - utility funds - 17 Investment earnings 727,560 9,562 277,998 200,000 100,000 100,000 40,000 I I I I 18 Annual contribution to balance 46,000,000 - - 1,000,000 1,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 3,500,000 3,500,000 3,500,000 3,500,000 6 3,500,000 3,500,000 19 Additional capacity from maturing, existing debt 64,270,000 810,000 810,000 810,000 810,000 1,360,000 1,910,000 1,910,000 1,910,000 1,910,000 1,910,000 1,910,000 1,910,000 1,910,000 23 Revenue Total 324,587,560 36,719,516 1,794,998 70,013,046 1 2,200,000 72,010,000 1 5,950,000 8,910,000 I 3,910,000 4,460,000 I 5,010,000 5,010,000 l 6,510,000 6,510,000 I 6,510,000 6,510,000 I 6,560,000 6,210,000 I , 24 25 Project Expenditures 26 Justice Center 68,536,343 123,833 398,261 21,581,872 30,155,657 16,276,721 - I - - I I I I 27 FS 51 12,509,000 59,853 1 222,146 1,982,035 8,429,736 1,815,230 - 28 FS 52 17,652,000 8,256 1 158,993 1,000,590 3,551,391 12,698,348 234,422 - - I I I 29 FS 54 14,753,000 132,413 1,950,103 2,728,590 9,765,775 176,119 I I I I 30 Apparatus & equip 29,371,751 14,447 420,921 1,629,428 2,589,580 362,385 1,333,578 1,672,191 507,480 2,597,023 384,755 271,667 ' 806,277 2,709,784 : 3,512,566 518,538 ; 1,597,411 2,865,957 31 Shops 63,270,566 - 265,858 19,386,684 7,199,389 28,316,967 8,101,668 - I I I 35 Project Expenditures Total 206,092,659 206,389 1,598,591 47,530,712 54,654,343 69,235,425 9,845,787 1,672,191 507,480 2,597,023 384,755 271,667 i 806,277 2,709,784 3,512,566 518,538 1,597,411 2,865,957 37 Debt Service interest only : interest only interest only interest only full DS 1 38 Debt service LTGO 129,786,474 800,000 800,000 3,440,000 3,440,000 6,929,960 6,929,960 6,929,960 6,929,960 6,929,960. 6,929,960 6,929,960 ! 6,929,960 6,929,960 6,929,960 6,929,960 1 I I I 39 Utility Fds pay rent = 50% of dbt svc (48,500,000) (400,000): (400,000) (1,300,000) (1,300,000) (2,600,000) (2,600,000) (2,600,000): (2,600,000) (2,600,000): (2,600,000) (2,600,000); (2,600,000) (2,600,000)° (2,600,000) (2,600,000) 40 GF Debt Service Total 81,286,474 - - 400,000 400,000 2,140,000 2,140,000 4,329,960 I 4,329,960 4,329,960 I 4,329,960 4,329,960 4,329,960 4,329,960 4,329,960 4,329,960 4,329,960 4,329,960 41 Expense Total 287,379,133 206,389 1,598,591 47,930,712 55,054,343 71,375,425 11,985,787 6,002,150 I 4,837,440 6,926,982 4,714,715 4,601,627 5,136,237 7,039,744 7,842,525 4,848,497 5,927,371 7,195,916 I 42 3 I 48 Annual Surplus (Shortfall) 37,208,427 36,513,127 196,407 22,082,334 ; (52,854,343) 634,575 ; (6,035,787) 2,907,850 ; (927,440) (2,466,982): 295,285 408,373 e 1,373,763 (529,744): (1,332,525) 1,661,503 632,629 (985,916) 49 Beginning Carryover (Shortfall) - - 36,513,127 36,709,534 I 58,791,868 5,937,525 I 6,572,099 536,313 ' 3,444,162 2,516,722 1 49,740 345,025 1 753,398 2,127,161 1 1,597,417 264,892 1,926,395 2,559,024 50 Ending Carryover (Shortfall) 37,208,427 36,513,127 36,709,534 58,791,868 5,937,525 6,572,099 1 536,313 3,444,162 2,516,722 49,740 345,025 753,398 1 2,127,161 1,597,417 264,892 1,926,395 2,559,024 1,573,108 01 2/15/2018 2oyrAmortz_PSPfinPlan B 1 of 2 N 0) PUBLIC SAFETY PLAN - FINANCIAL PLAN - 20 Year LTGO Amortization 2/15/2018 20yrAmortz_PSPfinPlan B 2 of 2 B V W X Y Z AA AB AC AD AE AF AG AH Al AJ AK AL AM 1 2033 2034 2035 2036 i 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 8 Revenues: I I I I 9 UTGO bond proceeds, Voted 10 LTGO bond proceeds, Councilmanic I I I 11 Fire Impact fees & deposit - Segale I I I I 12 Fire Impact fees - other 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 13 F301, Lnd & Prk Acq contribution 14 Property/land sales I I I 15 REET 1 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 16 Interfund loan - utility funds 17 Investment earnings I I I I I 18 Annual contribution to balance 3,500,000 3,500,000 1,500,000 1,500,000 1,000,000 -I - - I - - I - - - - I - - I - - 19 Additional capacity from maturing, existing debt 1,910,000 1,910,000 2,170,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 2,560,000 ! 2,560,000 2,560,000 2,560,000 2,560,000 23 Revenue Total 6,210,000 6,210,000 l 4,470,000 4,860,000 4,360,000 3,360,000 1 3,360,000 3,360,000 3,360,000 3,360,000 1 3,360,000 3,360,000 1 3,360,000 3,360,000 1 3,360,000 3,360,000 3,360,000 3,360,000 I I I I I I I I 24 25 Project Expenditures I I I I t 26 Justice Center I I I I 27 FS 51 28 FS 52 I I I I 29 FS 54 I 1 I I 30 Apparatus & equip 888,681 3,667,573 0 243,009 609,751 168,749 -- - - - - - - - - - - - 31 Shops I I I I 35 Project Expenditures Total 888,681 3,667,573 243,009 609,751 168,749 -I - - - - I - - - - I - - I - - 37 Debt Service 38 Debt service LTGO 6,929,960 6,929,960 6,929,960 6,929,960 6,929,960 5,213,560 5,213,560 - - - - - - - - - I - - I I I I I I 39 Utility Fds pay rent = 50% of dbt svc (2,600,000) (2,600,000); (2,600,000) (2,600,000) (2,600,000) (1,750,000); (1,750,000) - - - - - - - - - - - 40 GF Debt Service Total 4,329,960 4,329,960 4,329,960 4,329,960 4,329,960 3,463,560 I 3,463,560 - 1 - - I - - - - l - - - - 41 Expense Total 5,218,640 7,997,533 ; 4,572,969 4,939,711 4,498,709 3,463,560 I 3,463,560 - - - I - - - - I - - - I - I I I 42 I II ! 48 Annual Surplus (Shortfall) 991,360 (1,787,533); (102,969) (79,711); (138,709) (103,560); (103,560) 3,360,000 3,360,000 3,360,000 : 3,360,000 3,360,000 ; 3,360,000 3,360,000 ; 3,360,000 3,360,000 3,360,000 3,360,000 49 Beginning Carryover (Shortfall) 1,573,108 2,564,467 I 776,934 673,966 I 594,255 455,546 1 351,987 248,427 1 3,608,427 6,968,427 10,328,427 13,688,427 1 17,048,427 20,408,427 1 23,768,427 27,128,427 1 30,488,427 33,848,427 50 Ending Carryover (Shortfall) 2,564,467 776,934 673,966 594,255 1 455,546 351,987 I 248,427 3,608,427 6,968,427 10,328,427. 13,688,427 17,048,427 20,408,427 23,768,427 ; 27,128,427 30,488,427 33,848,427 37,208,427 2/15/2018 20yrAmortz_PSPfinPlan B 2 of 2 N CO PUBLIC SAFETY PLAN - FINANCIAL ANALYSIS TO CLOSE THE GAP Line Item Descriptions and Comments 20yrAmortz_PSPfinPlan B - Copy 29 2/15/2018 12:32 PM A B C 1 Line Item Description 8 Revenues: UTGO bond proceeds, Voted Bond measure passed in November 2016 for $77,385,000. Based on need, assumes the remainder of the voted debt is issued in 2018. 9 LTGO bond proceeds, Councilmanic 2018 $20,000,000 issuance was approved by Council in 2017; 2020 issuance is within debt capacity if City's assessed valuation grows by 4.5% from 2018 to 2020 and the bonds are issued at a premium (premium does not count towards debt capacity). The assumed interest rate is 4%. No debt issuance costs have been included in the analysis. 10 Fire Impact fees & deposit - Segale The Tukwila South development agreement provides for $1,750,000 in a non refundable deposit and $3,000,000 in advance payment of Tukwila South generated impact fees. 11 Fire Impact fees - other Represents fire impact fees earned on development other than in the Tukwila South area. The annual average fee shown in the model assumes an increase in the fee per unit of development and an increase in development. The annual average fee collected over the 9 year period since inception is $120,000. 12 F301, Lnd & Prk Acq contribution This fund contains over $3,000,000 of accumulated REET 1 revenue that can be transferred and devoted to the PSP. 13 Property/land sales See the detailed list of properties and estimated proceeds. 14 REET 1 In 2017, the City Council resolved to dedicate REET 1 revenue to the Pubic Safety Plan. The annual average REET collection is based on average actual collections over the past 10 years of $494,000. 15 17 Investment earnings Investment earnings for 2016 and 2017 are actuals; the remaining years are estimates. 19 Additional capacity from maturing, existing debt Beginning in 2021, certain existing debt issuances will be paid off. The funds required to pay the annual debt service on these debt issuances are now available for other uses. 23 Revenue Total Total revenue for each year and for the 35 year period diplayed in the model. Project Expenditures Project expenditures for the facilities match with the February 6, 2018 information presented to Council. 25 Apparatus & equip Expenditures are from the most recently updated apparatus and equipment schedule. 30 Project Expenditures Total Total estimated project expenditures, including Fire apparatus and equipment, as of February 6, 2018. 35 Debt Service Debt service on the LTGO debt issued. Assumes a 20 year pay back period, a 4% per annum interest rate, interest only payments during construction, and 50% of debt service paid by the utility funds as rent for the portion of the facility used for these activities. 37 Debt service LTGO Pay back of amount borrowed plus interest. See the debt service worksheet for break down of principal and interest. 38 Utility Fds pay rent = 50% of dbt svc Assumes utilities will pay a facility lease in an amount equal to 50% of the debt service. 39 41 Expense Total Project expenditures plus General Fund portion of debt service 48 Annual Surplus (Shortfall) Revenue less expenditures for each year. 49 Beginning Carryover (Shortfall) Carryover from prior year. 50 Ending Carryover (Shortfall) Beginning cash balance, or carryover from prior, year plus annual activity [revenue less expenditures]. 52 53 Key to Highlighted Cells on Financing Plan Recap 54 Revenue 55 Project expense 56 Debt service expense 57 Total expense 58 Funding Gap, Cash Surplus or (Shortfall) 20yrAmortz_PSPfinPlan B - Copy 29 2/15/2018 12:32 PM 30 PUBLIC SAFETY PLAN - FINANCIAL PLAN - 30 Year LTGO Amortization W 2/15/2018 3oyrAmortz_PSPfinPlan B 1 of 2 B D E F G H 1 J K L M N O P Q R S T U 1 TOTAL 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 8 Revenues: , 1 I 1 I I 9 UTGO bond proceeds, Voted 77,385,000 36,709,954 1 40,675,046 1 I I I I 10 LTGO bond proceeds, Councilmanic 86,000,000 1 20,000,000 1 66,000,000 I 1 I I I 11 Fire Impact fees & deposit - Segale 4,750,000 500,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 j 300,000 300,000 300,000 300,000 j 300,000 300,000 350,000 12 Fire Impact fees - other 10,917,000 1 1,017,000 300,000 300,000 300,000 ; 300,000 300,000 ; 300,000 300,000 ; 300,000 300,000 ; 300,000 300,000 : 300,000 300,000 ; 300,000 300,000 13 F301, Lnd & Prk Acq contribution 3,000,000 1 3,000,000 I I I I I 14 Property/land sales 15,038,000 5,038,000 3,000,000 2,000,000 5,000,000 I I I I 15 REET 1 16,500,000 500,000 500,000 500,000 500,000 500,000 : 500,000 500,000 500,000 500,000 500,000 500,000: 500,000 500,000 500,000 500,000 16 Interfund loan - utility funds 17 Investment earnings 727,560 9,562 277,998 200,000 100,000 100,000 40,000 1 I I 18 Annual contribution to balance 28,500,000 - 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 ; 1,000,000 1,000,000 ; 1,500,000 1,500,000 2,000,000 2,000,0001 2,000,000 2,000,000 2,000,000 2,500,000 Additional capacity from maturing, I I V 19 existing debt 64,270,000 1 810,000 1 810,000 810,000 1 810,000 1,360,000 j 1,910,000 1,910,000 1 1,910,000 1,910,000 j 1,910,000 1,910,000 I 1,910,000 1,910,000 23 Revenue Total 307,087,560 36,719,516 1 1,794,998 71,013,046 2,200,000 72,010,000 4,950,000 7,910,000 ; 2,910,000 3,460,000 4,510,000 4,510,000 5,010,000 5,010,000 5,010,000 5,010,000 . 5,060,000 5,210,000 f I I f 1 24 I I I 25 Project Expenditures 1 1 1 1 I I 26 Justice Center 68,536,343 123,833 1 398,261 21,581,872 30,155,657 16,276,721 - - - 27 FS 51 12,509,000 59,853 1 222,146 1,982,035 8,429,736 1,815,230 - I I I I I 28 FS 52 17,652,000 8,256 158,993 1,000,590 3,551,391 12,698,348 234,422 1 - - I I I 29 FS 54 14,753,000 132,413 1,950,103 2,728,590 9,765,775 176,119 30 Apparatus & equip 29,371,751 14,447 420,921 1,629,428 2,589,580 362,385 1,333,578 1,672,191507,480 2,597,023 , 384,755 271,667 806,277 2,709,784 3,512,566 518,538 1,597,411 2,865,957 31 Shops 63,270,566 - 265,858 19,386,684 7,199,389 28,316,967 8,101,668 I - I I I I 35 Project Expenditures Total 206,092,659 206,389 1,598,591 47,530,712 ; 54,654,343 69,235,425 9,845,787 1,672,191 507,480 2,597,023 ; 384,755 271,667 ; 806,277 2,709,784 ; 3,512,566 518,538 ; 1,597,411 2,865,957 37 Debt Service interest only interest only interest only interest only full DS I I I I 38 Debt service LTGO 151,919,016 800,000 1 800,000 3,440,000 1 3,440,000 5,212,204 j 5,212,204 5,212,204 j 5,212,204 5,212,204 j 5,212,204 5,212,204 j 5,212,204 5,212,204 5,212,204 5,212,204 39 Utility Fds pay rent = 50% of dbt svc (56,700,000) (400,000). (400,000) (1,300,000)! (1,300,000) (1,950,000). (1,950,000) (1,950,000)• (1,950,000) (1,950,000)! (1,950,000) (1,950,000)! (1,950,000) (1,950,000). (1,950,000) (1,950,000) 40 GF Debt Service Total 95,219,016- 1 - 400,000 1 400,000 2,140,000 1 2,140,000 3,262,204 1 3,262,204 3,262,204 1 3,262,204 3,262,204 I 3,262,204 3,262,204 I 3,262,204 3,262,204 I 3,262,204 3,262,204 41 Expense Total 301,311,675 206,389 1 1,598,591 47,930,712 55,054,343 71,375,425 j 11,985,787 4,934,395 1 3,769,684 5,859,227 1 3,646,959 3,533,871 4,068,481 5,971,988 6,774,769 3,780,742 4,859,615 6,128,161 42 48 Annual Surplus (Shortfall) 5,775,885 36,513,127 196,407 23,082,334 I (52,854,343) 634,575 (7,035,787) 2,975,605. (859,684) (2,399,227). 863,041 976,129 941,519 (961,988). (1,764,769) 1,229,258 200,385 (918,161) 49 Beginning Carryover (Shortfall) - - 1 36,513,127 36,709,534 I 59,791,868 6,937,525 1 7,572,099 536,313 1 3,511,918 2,652,234 I 253,007 1,116,048 I 2,092,177 3,033,695 I 2,071,707 306,937 I 1,536,196 1,736,581 50 Ending Carryover (Shortfall) 5,775,885 36,513,127 36,709,534 59,791,868 j 6,937,525 7,572,099 j 536,313 3,511,918 j 2,652,234 253,007 j 1,116,048 2,092,177 j 3,033,695 2,071,707 j 306,937 1,536,196 j 1,736,581 818,420 51 52 Annual contribution to balance 28,500,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,500,000 1,500,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,500,000 53 W 2/15/2018 3oyrAmortz_PSPfinPlan B 1 of 2 W N PUBLIC SAFETY PLAN - FINANCIAL PLAN - 30 Year LTGO Amortization W W 2/15/2018 30yrAmortz_PSPfinPlan B 2 of 2 B V W X Y Z AA AB AC AD AE AF AG AH Al AJ AK AL AM 1 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 8 Revenues: I I I I 9 UTGO bond proceeds, Voted I 1 1 1 1 1 10 LTGO bond proceeds, Councilmanic I ! I I I I 11 Fire Impact fees & deposit - Segale 12 Fire Impact fees - other 300,000 300,000 ; 300,000 300,000 300,000 300,000 ; 300,000 300,000 300,000 300,000 ; 300,000 300,000 300,000 300,000 ; 300,000 300,000 ; 300,000 300,000 13 F301, Lnd & Prk Acq contribution I 1 I I I 14 Property/land sales j I 1 I I I 15 REET 1 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 16 Interfund loan - utility funds 1 1 I I 17 Investment earnings 18 Annual contribution to balance 2,500,000 2,500,000 ; 1,000,000 - - -- - - - - - - - - - - - Additional capacity from maturing, I I I 1 19 existing debt 1,910,000 1,910,000 p 2,170,000 2,560,000 2,560,000 2,560,000 j 2,560,000 2,560,000 I 2,560,000 2,560,000 I 2,560,000 2,560,000 2,560,000 2,560,000 j 2,560,000 2,560,000 1 2,560,000 2,560,000 23 Revenue Total 5,210,000 5,210,000 3,970,000 3,360,000 3,360,000 3,360,000 3,360,000 3,360,000 3,360,000 3,360,000 3,360,000 3,360,000 : 3,360,000 3,360,000 ; 3,360,000 3,360,000 3,360,000 3,360,000 I I I 1 24 I I I I 25 Project Expenditures 26 Justice Center 27 FS 51 1 I I I 28 FS 52 I 1 I I 29 FS 54 30 Apparatus & equip 888,681 3,667,573 243,009 609,751 168,749 -! - - - - - - - - - - - - 31 Shops I I I I 35 Project Expenditures Total 888,681 3,667,573 0 243,009 609,751 168,749 - - -- - - - - - - - - - 37 Debt Service I I I I I 38 Debt service LTGO 5,212,204 5,212,204 I 5,212,204 5,212,204 5,212,204 5,212,204 j 5,212,204 5,212,204 5,212,204 5,212,204 j 5,212,204 5,212,204 5,212,204 5,212,204 j 5,212,204 3,960,856 1 3,960,856 - 39 Utility Fds pay rent = 50% of dbt svc (1,950,000) (1,950,000)! (1,950,000) (1,950,000), (1,950,000) (1,950,000)! (1,950,000) (1,950,000) (1,950,000) (1,950,000)! (1,950,000) (1,950,000), (1,950,000) (1,950,000)! (1,950,000) (1,300,000), (1,300,000) - 40 GF Debt Service Total 3,262,204 3,262,204 l 3,262,204 3,262,204 1 3,262,204 3,262,204 I 3,262,204 3,262,204 1 3,262,204 3,262,204 l 3,262,204 3,262,204 1 3,262,204 3,262,204 I 3,262,204 2,660,856 1 2,660,856 - 41 Expense Total 4,150,885 6,929,777 j 3,505,213 3,871,955 3,430,953 3,262,204 j 3,262,204 3,262,204 3,262,204 3,262,204 j 3,262,204 3,262,204 3,262,204 3,262,204 j 3,262,204 2,660,856 2,660,856 - 42 48 Annual Surplus (Shortfall) 1,059,115 (1,719,777), 464,787 (511,955), (70,953) 97,796 97,796 97,796 97,796 97,796 97,796 97,796 97,796 97,796 97,796 699,144 699,144 3,360,000 49 Beginning Carryover (Shortfall) 818,420 1,877,535 I 157,758 622,545 1 110,590 39,637 l 137,433 235,229 333,025 430,821 6 528,617 626,414 724,210 822,006 I 919,802 1,017,598 1,716,741 2,415,885 50 Ending Carryover (Shortfall) 1,877,535 157,758 j 622,545 110,590 j 39,637 137,433 j 235,229 333,025 430,821 528,617 j 626,414 724,210 822,006 919,802 j 1,017,598 1,716,741 2,415,885 5,775,885 51 52 Annual contribution to balance 2,500,000 2,500,000 1,000,000 - - - - - - - - - - - - - - - 53 W W 2/15/2018 30yrAmortz_PSPfinPlan B 2 of 2 W PUBLIC SAFETY PLAN - FINANCIAL ANALYSIS TO CLOSE THE GAP Line Item Descriptions and Comments 30yrAmortz_PSPfinPlan B 35 2/15/2018 12:36 PM A B C 1 Line Item Description 8 Revenues: UTGO bond proceeds, Voted Bond measure passed in November 2016 for $77,385,000. Based on need, assumes the remainder of the voted debt is issued in 2018. 9 LTGO bond proceeds, Councilmanic 2018 $20,000,000 issuance was approved by Council in 2017; 2020 issuance is within debt capacity if City's assessed valuation grows by 4.5% from 2018 to 2020 and the bonds are issued at a premium (premium does not count towards debt capacity). The assumed interest rate is 4%. No debt issuance costs have been included in the analysis. 10 Fire Impact fees & deposit - Segale The Tukwila South development agreement provides for $1,750,000 in a non refundable deposit and $3,000,000 in advance payment of Tukwila South generated impact fees. 11 Fire Impact fees - other Represents fire impact fees earned on development other than in the Tukwila South area. The annual average fee shown in the model assumes an increase in the fee per unit of development and an increase in development. The annual average fee collected over the 9 year period since inception is $120,000. 12 F301, Lnd & Prk Acq contribution This fund contains over $3,000,000 of accumulated REET 1 revenue that can be transferred and devoted to the PSP. 13 Property/land sales See the detailed list of properties and estimated proceeds. 14 REET 1 In 2017, the City Council resolved to dedicate REET 1 revenue to the Pubic Safety Plan. The annual average REET collection is based on average actual collections over the past 10 years of $494,000. 15 17 Investment earnings Investment earnings for 2016 and 2017 are actuals; the remaining years are estimates. 19 Additional capacity from maturing, existing debt Beginning in 2021, certain existing debt issuances will be paid off. The funds required to pay the annual debt service on these debt issuances are now available for other uses. 23 Revenue Total Total revenue for each year and for the 35 year period diplayed in the model. Project Expenditures Project expenditures for the facilities match with the February 6, 2018 information presented to Council. 25 Apparatus & equip Expenditures are from the most recently updated apparatus and equipment schedule. 30 Project Expenditures Total Total estimated project expenditures, including Fire apparatus and equipment, as of February 6, 2018. 35 Debt Service Debt service on the LTGO debt issued. Assumes a 30 year pay back period, a 4% per annum interest rate, interest only payments during construction, and 50% of debt service paid by the utility funds as rent for the portion of the facility used for these activities. 37 Debt service LTGO Pay back of amount borrowed plus interest. See the debt service worksheet for break down of principal and interest. 38 Utility Fds pay rent = 50% of dbt svc Assumes utilities will pay a facility lease in an amount equal to 50% of the debt service on the Public Works facility. 39 41 Expense Total Project expenditures plus General Fund portion of debt service 48 Annual Surplus (Shortfall) Revenue less expenditures for each year. 49 Beginning Carryover (Shortfall) Carryover from prior year. 50 Ending Carryover (Shortfall) Beginning cash balance, or carryover from prior, year plus annual activity [revenue less expenditures]. 52 53 Key to Highlighted Cells on Financing Plan Recap 54 Revenue 55 Project expense 56 Debt service expense 57 Total expense 58 Funding Gap, Cash Surplus or (Shortfall) 30yrAmortz_PSPfinPlan B 35 2/15/2018 12:36 PM 36 Levy Lid Lift 2 Voter Approved Bond 3 B&O Tax $6,100,000 $25 million (after remaining voted debt issued, if issued in 2018) $4,000,000 annually 4 Transportation $3,900,000 Benefit District annually Voter approved @ 50% Voter approved @ 60% plus validation Property tax — property owners Property tax — property owners Councilmanic Tax on gross receipts — businesses Voter approved @ 50% February 21, 2018 New Revenue Matrix Attachment — Page 1 Levy lid lift to the cap would add $299 in annual property taxes for a $300,000 home. Bonding to the cap would add $409 in annual property taxes for a $300,000 home. Unable to calculate because cost dependent on a businesses' gross receipts. Sales tax— Dependent on largely out of purchases. town visitors • Auburn current rate is 2.03239 • Bellevue current rate is 1.02655 • Burien current rate is 1.23516 • Federal Way current rate is 1.06161 • Kent current rate is 1.62704 • Renton rate is 1.15364 • Seattle rate is 2.36209 • SeaTac rate is 2.75273 Note: as of 2/12/18 no information available as to what cities have lid lifts in place. • Kent attempted general obligation bonds to fund a criminal justice and training facility for $34M which failed in 2014. • Seattle's rate of 2.62352 also includes a general obligation bond increase of 0.13040 that funds libraries (voter approved in August of 2012) and the waterfront seawall (voter approved in November of 2012). This rate may include other bonds. • Bellevue levies 0.001496 on all four sectors • Burien levies 0.001 on all four sectors • Kent levies 0.00046 on manufacturing and retail and 0.00152 services and wholesale • Renton levies 0.00085 on manufacturing, services and retail with a rate of 0.0005 on retail. Threshold is $500,000 per year. • Seattle levies 0.00222 on manufacturing, retail and wholesale and 0.00427 on services. All are above the 0.002 councilmanic due to voter approval • Seattle 0.001 sales tax approved by voters 11/14 dedicated to increased Metro service in the city. Restriction lies in ballot title and cannot exceed maximum rate. Restriction lies in ballot title and cannot exceed a percentage of total AV in the City. .2% available to cities. Could exceed .2% if voter approved Must be dedicated for transportation Analysis of other cities' revenues and rates was restricted to Auburn, Bellevue, Burien, Federal Way, Kent, Renton, SeaTac and Seattle from 2011- present. If a city is not listed, then the Tukwila's current regular levy rate is $2.46285 per 1,000; the cap is $3.45818. Excess levy rate for voted debt is $0.45579 for a total levy rate of $2.91864 Bonds largely used for capital projects. B&O tax can be sized to exempt small businesses via an employee or gross receipts threshold. Can also be targeted for specific industries and vary by industry type. .2% sales tax available to cities. issue does not apply. February 21, 2018 New Revenue Matrix Attachment — Page 2 Revenue Amount Vehicle Available Mechanism Type and Estimated payee Average Cost ItEVENUE OPTIONS ABOVE $500,000 Other Cities' and Rates Restrictions Notes 5 Transportation Benefit District Car Tab $ 500,000 Councilmanic Car tab — car owners and fleets $20 per vehicle if councilmanic; up to $100 per vehicle if full capacity allowed by voters • Seattle: $20 car tab; additional $60 fee approved by voters 11/14, dedicated to increased Metro service in the city. Burien $10 car tab; $30 fee failed at ballot Des Moines $40 car tab -related projects. Must be dedicated for transportation -related projects. No longer required to create a separate TBD entity; form is just another fund within the existing city government $20 car tab available councilmanic, up to $100 if approved by a public vote at 50%. Jurisdictions with a $20 car tab can to go to $40 councilmanicly if the fee was in place for two years. Two years later, the jurisdiction can go to $60 councilmanicly. Tukwila remains constrained to the $20. * Analysis of other cities' revenues and rates was restricted to Auburn, Bellevue, Burien, Federal Way, Kent, Renton, SeaTac and Seattle from 2011- present. If a city is not listed, then the issue does not apply. 7 Local Improvement District Depends on project Councilmanic and petition February 21, 2018 New Revenue Matrix Attachment — Page 3 Assessment — Cost properties completely list. around the dependent on specific project and project number of property owners Many cities utilize LIDs for a wide variety of projects. Would not be feasible to Dedicated to Could be used for a the specific LID variety of capital project. infrastructure projects if nearby property owners are supportive. * Analysis of other cities' revenues and rates was restricted to Auburn, Bellevue, Burien, Federal Way, Kent, Renton, SeaTac and Seattle from 2011 - present. If a city is not listed, then the issue does not apply. Reexamining existing taxes and fees Unknown Councilmanic Varies February 21, 2018 New Revenue Matrix Attachment — Page 4 Varies • Auburn: o Admissions tax: 5% • Bellevue: o Admissions tax: 3% • Burien: o Admissions tax: 5% o Parking tax: $3.00 per parking transaction • Kent: o Admissions tax: 5% • Renton: o Business Licenses: Beginning in 2018, the business license fee is a flat $150 per business • SeaTac: o Parking tax: $3.09 per parking transaction. Beginning in 2018, the flat fee of $3.00 is adjusted for inflation. • Seattle: o Admissions tax: 5% o Commercial parking tax: 12.5% o No RGRL but square footage tax No restrictions Includes: with the • Admissions exception of tax Impact Fees • Parking tax which must be • RGRL dedicated to • Fire, Traffic what they are and Park for — i.e. fire, Impact traffic, parks. fees * Analysis of other cities' revenues and rates was restricted to Auburn, Bellevue, Burien, Federal Way, Kent, Renton, SeaTac and Seattle from 2011- present. If a city is not listed, then the issue does not apply. Utility Tax - external enterprises $600,000 per 1% increase Councilmanic up to 6%; Voter approval required to exceed 6% Utility tax - gas, electric, telephone, cable, solid waste February 21, 2018 New Revenue Matrix Attachment - Page 5 Additional 1% = approx. $30- $50 per household depending on usage and consumption. 10 Utility Tax - $200,000 Councilmanic Utility tax- Additional 1% internal per 1%, Water/sewer = Approx $20 enterprises ^' 60% of per household Tukwila depending on property consumption; owners; commercial surface based on water 100% consumption of Tukwila parcels 11 Utility Tax - $60,000 Councilmanic Utility tax - Water & sewer per 1% of everyone on districts tax Tukwila utilities 12 Utility franchise fee Negotiated Seattle City Light Cost dependent on whether extending tax to non -City utilities or negotiating a franchise fee. Utility Abn Bvue Burn Kent Rent STac Sea Tuk Electric. 6.0% 5.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% Natural 6.0% 5.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% Gas Teleph. 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% Cable 6.0% 4.8% 6.0% 6.0% 6.0% 6.0% 10.0% 6.0% Solid 7.0% 4.S% 6.0% 18.4% 6.8% 5.0% 14.2% 6.0% Waste Sewer 7.0% 5.0% 9.5% 6.0% 12.0% 10.0% Water 7.0% 10.4% 13.0% 6.8% 15.54% 10.0% Storm 7.0% 5.0% 19.5% 6.8% 6.0% 11.5% 10.0% Many cities charge utility taxes and/or have negotiated a franchise fee for utilities operating within their jurisdictional boundaries. The City is currently at 6%. Must be voter approved to go higher. The City is currently at 6%. Must be voter approved to go higher. Limit in RCW 35.21.870 of 6% is on electricity, telephone, natural gas or steam energy. No vote is needed to raise the rate above 6% for other utilities such as water, sewer, stormwater and cable television. agencies serving Tukwila residents. The City is Opportunity to currently at extend current 6%. Must be utility tax to other voter agencies serving approved to Tukwila residents. go higher. * Analysis of other cities' revenues and rates was restricted to Auburn, Bellevue, Burien, Federal Way, Kent, Renton, SeaTac and Seattle from 2011- present. If a city is not listed, then the issue does not apply. N 2017 - 2018 Biennial Budget City of Tukwila, Washington This chart represents the general obligation debt service of the City. It includes debt being repaid with general fund revenue as well as debt that is being repaid from other sources. The City receives funds from the Tukwila Metropolitan Park District to repay the MPD capital loan, funds to repay the urban renewal LOC (line of credit) are proceeds from land sales. Since 2015, SCORE bonds have been paid directly by SCORE jail. $7,000 R o $6,000 L $5,000 $4,000 $3,000 $2,000 $1,000 $0 City of Tukwila General Obligation Bond Debt Service 5 y� y1 1b y� 'y0 't1 1'')' 1 1b 15 L(o A Lcb l� 1 1)1' 33 h 3d lib "?oi 0 '0 '1. 'y0 1. 'y0 '1. 'y0 `V 'ti0 ' . 'y0 'y0 'ti0 'y0 1. 'y0 '1. 'y0 1. 'ti0 ' . 'y0 'y0 'ti0 ■ SCORE • SC Parkway Extension/HHD a Arterial Street, KC Bridge • City Hall Annex, Tukwila Village • Valley Com ■ TCC, Fire Station #S3 • MPD Capital Loan • Urban Renewal Urban Renewal LOC • Interurban Ave S/BAR Bridge 91 New - 42nd/53rd New - PW Shops -Land New - PW Shops -Construction PW Shops Debt: 1/2 paid by general fund, 1/2 paid by utility funds 261 43 44 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Total: SCHEDULE OF PRIOR, EXISTING, AND FUTURE ANTICIPATED LONG-TERM DEBT SERVICE Section 1 Existing Gene al Obligation Debt Section 2 Future Anticipated General Obligation Debt Section 3 Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9 Column 10 Column 11 Column 12 Column 13 Column 14 Column 15 Column 16 Column 19 Column 17 Column 18 Column 19 Column 20 Fund 205 Fund 210 Fund 211 Fund 216 Fund 217 Total Existing Fund 201 Special Fund 207 Fund 208 Fund 209 LTGO LTGO Fund 212 Fund 214 LTGO LTGO LTGO Fund 218 Fund 200 Fund 200 Fund 200 Total Edsting New Debt- New Debt- PW New Debt- Total and Future LTGO Bonds Assessment LTGO Bonds, 1999 LTGO Bonds, LTGO Bonds. Refunding, Refunding, LTGO Bonds, 2009 2010 Refunding, Refunding, LTG0,2013 LTGO, 2014 LTGO, 2014 LOC LTGO, 2015 GO Debt 42nd/53rd Shops (Land) PW Shops Construction Anticipated Future Debt General Bonds 2003 2008 2010 2011 Obligation Debt $6,000,000 $382,900 $10,000,000 52,551.600 66,277,500 $4,195,000 $6,180,000 $1,065,000 $4,620,000 $1,000,000 $3,850,000 $5,825,000 $8,400,000 Original Original Original Original Original Original Original $6,898,800 $5,870,000 Original Original Original Original $2,250,000 Original Planned 66,150,000 523,343,000 Issue Issue Issue Issue Issue Issue Issue Original issue Original Issue Issue Issue issue Issue Line of Credit Issue Issue Planned Issue Planned Issue City Hall Interurban Streets / South Park TCC, Fire Pnnex SC Parkway Arterial Urban Urban Avenue Subtotal = $672,000 per $492,000 per $492,000 per Subtotal = Total = Facilities Facilities Facilities Br, Art. St., Golf Course Station #53I Tukwila SCORE Enension/HHD Valley Com Street, KC Bridge MPD Loan Renewal Renewal South d98PR Columns 1-15 year for 20 years year for 20 years year for 20 years Columns l7- 18 Columns l6 and 19 512,385 26,875 834,343 - - - - - - - - - - - - 1,373,603 - - - - 1,373,603 516,100 - 833,623 245,882 - - - - - - - - - - - 1,595,604 - - - - 1,595,604 513,973 - 834,223 250,595 - - - - - - - - - - - 1,598,790 - - - - 1,598,790 516,173 - 834,148 250,963 49,871 - - - - - - - - - - 1,651,155 - - - - 1,651,155 - - 832.873 250,067 272,026 489,676 - - - - - - - - - 1,844,642 - - - - 1,844.642 - - 830,535 250,812 272,026 489,900 - - - - - - - - - 1,843,273 - - - - 1,843.273 - - 832,195 250,877 272,026 486,900 - - - - - - - - - 1,841,908 - - - - 1,841,908 - - 832,305 250,839 272,026 488,500 - - - - - - - - - 1,843,670 - - - - 1,843,670 - - 831,305 250,479 272.026 489,500 - - - - - - - - - 1,843,310 - - - - 1,843.310 - - 488,948 190,104 533,323 489,900 324,800 - - - - - - - - 2,027,075 - - - - 2,027,075 - - - 193,200 585,949 489,700 816,000 - 199,222 230,186 - - - - - 2,514,257 - - - - 2,514,257 - - - - 584,881 488,900 815,400 - 586,225 171,790 - - - - - 2,647,196 - - - - 2,647,196 - - - - 718,375 487,500 809,000 91,791 584,425 232,910 166,964 - - - - 3,090.965 - - - - 3,090.965 - - - - 3,379,788 490,500 737,000 430,157 584,075 204,880 167,975 113,130 - - - 6,107,504 - - - - 6,107,504 - - - - - 488,250 812,000 429,815 583,425 229,280 547,675 113,130- - - 3,203,574 - - - - 3,203.574 - - - - - - 811,300 432,885 585,650 228,800 545,825 113,130 249,404 18,118 102,107 2,985,111 - - - - 2,985,111 - - - - - - 811,100 427,960 585,450 - 548,675 113.130 260,918 22,000 392,575 3,091,340 - - - 3,091,340 - - - - - - 809,900 427,461 581,190 - 552,300 113,130 260,175 40,000 390,975 5,414,731- - - - 5,414.731 - - - - - - 809,100 428,288 575,152 - 549,250 113,130 260,775 2,290.000 389,225 3,131,670 672,000 492.000- 1,164,000 4,295,670 - - - - - - 810,900 427,973 567,307 - 548;700 113,130 260,455 - 392,325 3,127,690 672,000 492,000 933,720 2.097.720 5,225,410 - - - - - - - 427,869 558,182 - 545,300 113.130 260,290 - 390,125 2,302,096 672,000 492.000 1,867,440 3,031,440 5,333,536 - - - - - - - 426239 552,520 - 546,300 113,130 260,074 - 387,775 2,293,387 672,000 492.000 1,867.440 3,031,440 5,324.827 - - - - - - - 427,532 543,175 - 551,500 113,115 260,589 - 390,275 2,293,686 672,000 492,000 1,867,440 3,031,440 5,325,126 - - - - - - - 427,379 533,018 - 545,900 - 260,159 - 392,475 2,166,731 672,000 492,000 1,867,440 3,031,440 5,198,171 - - - - - - - 426,885 527,050 - - - 259,871 - 389,375 1,611,281 672,000 492,000 1,867,440 3,031,440 4,642,721 - - - - - - - 426,356 - - - - 260,783 - 391,125 1,088,514 672,000 492,000 1,867,440 3,031,440 4,117,954 - - - - - - - 426,130- - - - 260,169 - 387,575 1,082,424 672,000 492,000 1,867,440 3,031,440 4,113,864 - - - - - - - 425,896 - - - - 260,412 - 391,050 1,083,882 672,000 492,000 1,867,440 3,031,440 4,115,322 - - - - - - - 425,636 - - - - 260,484 - 392,050 1,087,170 672,000 492,000 1,867,440 3,031,440 4,118,610 - - - - - - - 425,335 - - - - 260,385 - 387,750 1,082,769 672,000 492,000 1,867,440 3,031,440 4,114.209 - - - - - - - 424,791 - - - - 260,115 - 388,300 1,082,655 672,000 492,000 1,867,440 3,031,440 4,114,095 - - - - - - - 424,762 - - - - 260,674 - 388,550 1,083,736 672,000 492,000 1,867,440 3,031,440 4,115,176 - - - - - - - 424,201 - - - - 260,033 - 388,500 1,082,784 672,000 492,000 1,867,440 3,031,440 4,114.224 - - - - - - - 423,889 - - - - 260,222 - 388,150 1,082,611 672,000 492,000 1,867,440 3,031,440 4,114.051 - - - - - - - 423,792 - - - - 260,211 - 392,500 1,087,153 672,000 492,000 1,867,440 3,031,440 4,118,593 - - - - - - - 423,485 - - - - - - 391,400 825,985 672,000 492,000 1,867,440 3,031,440 3,857,425 - - - - - - - 422,950 - - - - - - - 434,350 672,000 492,000 1,867,440 3,031,440 3,465,790 - - - - - . - 422,561 . - - - - - - 422,561 672,000 492,000 1,867,440 3,031,440 3,454.001 - - - - - - - 422,284 - - - - - - - 422,284 - - 933,720 933,720 1,356,004 - - - - - - - 422,085 - - - - - - - 422,085 - - - - 422,085 $ 2,058,631 $ 26,875 $ 7,984,406 $ 2,383,818 $7,212,318 $ 5,379,226 $ 8,366,500 $11,596,387 $ 8,146,062 $1,297,846 $ 5,816,364 $ 1,131,285 $ 5,196,194 $ 2,370,118 $ 7,904,182 $ 76,813,213 $13,440,000 $ 9,840,000 $ 35,481,360 $ 58,761,360 $ 135,574,573 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 ia6pn8 Ieiuue! 860Z - L60Z uoj6uiyseM `eIinn)lnl JO 'T!O a) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Totals SCHEDULE OF PRIOR AND EXISTING GENERAL FUND OBLIGATION FOR LTGO Section 1 Existing General Fund Obligation Section 4 Section 5 Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9 Column 10 Column 11 Column 12 Column 13 Column 14 Column 15 Column 16 Column 17 Column 18 Column 19 Column 20 Column 21 Column 22 Column 23 Column 24 Column 25 Column 26 Fund 201 Fund 205 Special Fund 207 Fund 208 Fund 209 Fund 210 LTGO Fund 211 LTGO Fund 212 Fund 214 LTGO Fund 216 LTGO Fund 217 LTGO Fund 218 Fund 200 Fund 200 Fund 200 Fund 209 Fund 200 Total Existing SC Parkway Total Funding available to offset Net Impact to LTGO Bonds Assessment LTGO Bonds, LTGO Bonds, LTGO Bonds, Refunding, Refunding, LTGO Bonds, 2010 Refunding, Refunding, LTGO, 2013 LTGO, 2014 LTGO, 2014 LTGO, 2015 LTGO, 2017 LTGO, 2017R GO Debt Extension/H MPD SCORE Fund Balance Land Sale Refunded Debt General Fund General Fund Bonds 1999 2000 2003 2003 2008 2009 2010 2011 LOC HD Obligations 1999 2000 2003 2003R 2008R 2009 2010 2010R 2011R 2013 2014 2014A 2015 2017 2017 $6,000,000 $382,900 $10,000,000 $2,551,600 $6,277,500 $4,195,000 $6,180,000 $6,898,800 $5,870,000 $1,065,000 $4,620,000 $1,000,000 $3,850,000 $2,250,000 $5,825,000 $8,180,000 $2,276,000 Original Issue Original Issue Original Issue Original Issue Original Issue Original Issue Original Issue Original issue Original Issue Original Issue Original Issue Original issue Original Issue Line of Credit Original Issue Original Issue Original Issue South Park City Hall Interurban Urban New Debt Net Total = Facilities Streets / Facilities Facilities Br, Art. St., TCC, Fire Station #53 Annex, Tukwila SCORE SC Parkway Extension/HHD Valley Com Arterial Street, KC Bridge MPD Loan Urban Renewal Urban Renewal Avenue South 42nd and 53rd Sidewalks Renewal - Refund Line -of- Subtotal = Columns 1-17 Subsidy Reimbursed by MPD Paid by SCORE Fund 209 Motel Sites Issue to Pay Subtotal = Columns 19-24 Column 18 less Column Golf Course Village & BAR Bridge Credit LOC 25 Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt Prior -Year Debt 512,385 26,875 834,343 - - - - - - - - - - - - - - 1,373,603 - - - - - - - 1,373,603 516,100 - 833,623 245,882 - - - - - - - - - - - - - 1,595,604 - - - - - - - 1,595,604 513,973 - 834,223 250,595 -- - - - - - - - - - - - 1,598,790 - - - - - - - 1,598,790 516,173 - 834,148 250,963 49,871 - - - - - - - - - - - - 1,651,155 - - - - - - - 1,651,155 - - 832,873 250,067 272,026 489,676 - - - - - - - - - - - 1,844,642 - - - - - - - 1,844,642 830,535 250,812 272,026 489,900 - - - - - - - - - - - 1,843,273 - - - - - - - 1,843,273 832,105 250,877 272,026 486,900 - - - - - - - - - - - 1,841,908 - - - - - - - 1,841,908 832,305 250,839 272,026 488,500 - - - - - - - - - - - 1,843,670 - - - - - - - 1,843,670 831,305 250,479 272,026 489,500 - - - - - - - - - - - 1,843,310 - - - - - - - 1,843,310 488,948 190,104 533,323 489,900 324,800 - - - - - - - - - - 2,027,075 - - - - - - - 2,027,075 - 193,200 585,949 489,700 816,000 - 199,222 230,186 - - - - - - - 2,514,257 (22,589) - - - - - (22,589) 2,491,668 - - - - 584,881 488,900 815,400 - 586,225 171,790 - - - - - - - 2,647,196 (66,657) - - - - - (66,657) 2,580,539 718,375 487,500 809,000 91,791 584,425 232,910 166,964 - - - - - - 3,090,965 (66,657) - - - - - (66,657) 3,024,308 3,379,788 490,500 737,000 430,157 584,075 204,880 167,975 113,130 - - - - - 6,107,504 (66,657) (113,130) - (3,100,000) - - (3,279,787) 2,827,717 488,250 812,000 429,815 583,425 229,280 547,675 113,130 - - - - - 3,203,574 (66,657) (113,130) - - - - (179,787) 3,023,787 - 811,300 432,885 585,650 228,800 545,825 113,130 249,404 18,118 102,107 - - 3,087,218 (66,657) (113,130) (141,000) - - - (320,787) 2,766,431 - 811,100 427,960 585,450 - 548,675 113,130 260,918 33,473 392,575 - - 3,173,281 (66,657) (113,130) (149,000) - - - (328,787) 2,844,493 $ 2,058,631 $ 26,875 $ 7,984,406 $ 2,383,818 $ 7,212,318 $ 5,379,226 $ 5,936,600 $ 1,812,608 $ 3,708,469 $ 1,297,846 $ 1,977,114 $ 452,520 $ 510,322 $ 51,590 $ 494,682 $ - $ - $ 41,287,026 (422,533) (452,520) (290,000) (3,100,000) - - (4,265,053) 37,021,972 Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt Outstanding Debt $ - $ - $ - $ - $ - $ - $ 809,900 $ 427,461 $ 581,190 $ - $ 552,300 $ 113,130 $ 260,175 $ 2,294,644 $ 390,975 $ 87,448 $ - $ 5,517,222 (61,667) (113,130) (427,461) - - (2,276,000) (2,878,257) 2,638,965 809,100 428,288 575,152 - 549,250 113,130 260,775 - 389,225 556,850 61,970 3,743,740 (56,053) (113,130) (428,288) - - - (597,471) 3,146,269 810,900 427,973 567,307 - 548,700 113,130 260,455 - 392,325 557,700 59,176 3,737,666 (49,807) (113,130) (427,973) - - - (590,910) 3,146,756 - - - - 427,869 558,182 - 545,300 113,130 260,290 - 390,125 558,250 59,176 2,912,322 (43,114) (113,130) (427,869) - - - (584,113) 2,328,209 426,239 552,520 - 546,300 113,130 260,074 - 387,775 553,500 63,728 2,903,265 (35,882) (113,130) (426,239) - - - (575,251) 2,328,014 - - - - - - - 427,532 543,175 - 551,500 113,115 260,589 - 390,275 553,600 2,344,280 5,184,066 (27,361) (113,115) (427,532) - (2,250,000) - (2,818,008) 2,366,058 - - - - - - - 427,379 533,018 - 545,900 - 260,159 - 392,475 558,400 - 2,717,331 (18,556) - (427,379) - - - (445,935) 2,271,396 - - - - - - - 426,885 527,050 - - - 259,871 - 389,375 557,750 - 2,160,931 (9,468) - (426,885) - - - (436,353) 1,724,579 - - - - - - - 426,356 - - - - 260,783 - 391,125 556,800 - 1,635,064 - - (426,356) - - - (426,356) 1,208,708 - - - - - - - 426,130 - - - - 260,169 - 387,575 555,550 - 1,629,424 - - (426,130) - - - (426,130) 1,203,294 - - - - - - - 425,896 - - - - 260,412 - 391,050 554,000 - 1,631,357 - - (425,896) - - - (425,896) 1,205,462 - - - - - - - 425,636 - - - - 260,484 - 392,050 557,150 - 1,635,320 - - (425,636) - - - (425,636) 1,209,684 - - - - - - - 425,335 - - - - 260,385 - 387,750 554,850 - 1,628,319 - - (425,335) - - - (425,335) 1,202,985 - - - - - - - 424,791 - - - - 260,115 - 388,300 557,250 - 1,630,455 - - (424,791) - - - (424,791) 1,205,665 - - - - - - - 424,762 - - - - 260,674 - 388,550 554,200 - 1,628,186 - - (424,762) - - - (424,762) 1,203,424 - - - - - - - 424,201 - - - - 260,033 - 388,500 555,850 - 1,628,584 - - (424,201) - - - (424,201) 1,204,383 - - - - - - - 423,889 - - - - 260,222 - 388,150 557,050 - 1,629,311 - - (423,889) - - - (423,889) 1,205,422 - - - - - - - 423,792 - - - - 260,211 - 392,500 557,800 - 1,634,303 - - (423,792) - - - (423,792) 1,210,511 - - - - - - - 423,485 - - - - - - 391,400 551,875 - 1,366,760 - - (423,485) - - - (423,485) 943,275 - - - - - - - 422,950 - - - - - - - 555,625 - 978,575 - - (422,950) - - - (422,950) 555,625 - - - - - - - 422,561 - - - - - - - 553,725 - 976,286 - - (422,561) - - - (422,561) 553,725 - - - - - - - 422,284 - - - - - - - - - 422,284 - - (422,284) - - - (422,284) - - - - - - - - 422,085 - - - - - - - - - 422,085 - - (422,085) - - - (422,085) - $ - $ - $ - $ - $ - $ - $ 2,429,900 $ 9,783,779 $ 4,437,593 $ - $ 3,839,250 $ 678,765 $ 4,685,872 $ 2,294,644 $ 7,409,500 $ 11,205,223 $ 2,588,330 $ 49,352,856 $ (301,908) $ (678,765) $ (9,783,779) $ - $ (2,250,000) $ (2,276,000) $ (15,290,452) $ 34,062,405 https://tukwilawa-my.sharepoint.com/personal/vicky_carlsen_tukwilawa_gov/Documents/Public Safety Plan Gap vc 1.14.18Debt Sched-Existing Debt 2/15/20189:59 AM 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 oo $3,500 o 0 s - $3,000 $2,500 $2,000 $1,500 $1,000 $soo so Net General Fund Debt Service Obligation Illliiiiiiiiiiiiiii- , 0yddddddddddddddddON' oyo�31 y• o • City Hall Annex, Tukwila Village • SCORE • SC Parkway Extension/HHD • Valley Com • Urban Renewal Urban Renewal LOC • Interurban Ave S/BAR Bridge 42nd & 53rd https://tukwilawa-my.sharepoint.com/personal/vicky_carlsen_tukwilawa_gov/Documents/Public Safety Plan Gap vc 1.14.18 Graphs - Existing Debt • Arterial Street, KC Bridge • Refund LOC 2/15/2018 9:57 AM Updated February 13, 2017 CITY OF TUKWILA Fire Impact Fees Inception through 2017 Sum of NET ACCT_TITLE FD ACCT_NO 2009 2010 2011 2012 2013 2014 2015 2016 2017 Grand Total FIRE IMPACT FEES 304 304.345.852.00.00 $ 13,342 $ 142,383 $ 157,654 $ 33,686 $ 139,714 $ 66,862 $ 46,406 $ 183,867 $ 285,075 $ 1,068,990