HomeMy WebLinkAbout2018-12-04 Finance Minutes
City of Tukwila
City Council Finance Committee
FINANCE COMMITTEE
Meeting Minutes
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Councilmembers: Chair; Dennis Robertson, Kate Kruller
Staff: David Cline, Peggy McCarthy, Vicky Carlsen, Bruce Linton, Derek Speck, Laurel
Humphrey
CALL TO ORDER: Chair Quinn called the meeting to order at 5:30 p.m.
I. PRESENTATIONS
II.BUSINESS AGENDA
A. Ordinances: Fire and Parks Impact Fees
Staff is seeking Council approval of two ordinances that would update the fire and impact fees.
The Code calls for an annual increase based on any increase to the Construction Cost Index for
Seattle published by the Engineering News Record. The CCI for Seattle June 2017 to June 2018
was 7.1%. UNANIMOUS APPROVAL. FORWARD TO DECEMBER 10, 2018 SPECIAL CONSENT
AGENDA.
B. Sale of Longacres Parcel
Staff updated the Committee on the status of the potential sale of the Longacres parcel,
approximately 3 acres of vacant land adjacent to Longacres Way and the Sounder commuter rail
station. In March 2018 the City Council authorized the Administration to engage in a process to
receive offers and establish the minimum price for the sale of certain city-owned properties,
determined to be fair market value as established by an appraiser. In September 2018 the City
issued a Request for Proposals for the Longacres parcel and received three: $2,240,000 from
Alliance, $1,600,000 from Momentum, and $2,030,000 from Pulte. Kidder Mathews performed the
appraisal and concluded the market value is $1,560,000. All three proposals qualify, but Alliance
and Pulte only complete the purchase if they can also purchase the adjacent property. Staff will
update the full Council in Executive Session on Monday. DISCUSSION ONLY.
C. 2018 Finance Committee Work Plan
Committee members and staff discussed the work completed over the past year. Chair Quinn
will report out on Monday during a City Council year-end report.
III.MISCELLANEOUS
Adjourned at 6:07 p.m.
Committee Chair Approval
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