HomeMy WebLinkAboutFS 2012-02-22 COMPLETE AGENDA PACKETCity of Tukwila
Distribution:
D. Quinn
Finance and Safety
D. Robertson
K. Kruller
Committee
V. Seal
Mayor Haggerton
D. Cline
O De'Sean Quinn, Chair
P. McCarthy
O Dennis Robertson
C. o'Raherty
S. Kerslake
O Kate Kruller
K. Matej
D. Tomaso
B. Linton
AGENDA
WEDNESDAY, FEBRUARY 22, 2012
CONFERENCE ROOM #3, 5:15 PM
Item Recommended Action Page
1. PRESENTATION(S)
2. BUSINESS AGENDA
a. Update to Fire and Parks impact fee ordinances.
Don Tomaso, Fire Marshal
a. Forward to 2/27 C.O.W. Pg.1
and 3/5 Regular Mtg.
b. Panhandling ordinance update.
Bruce Linton, Assistant Police Chief
c. Investment report.
Peggy McCarthy, Interim Finance Director
3. ANNOUNCEMENTS
4. MISCELLANEOUS
b. Information only. Pg.27
c. Information only. Pg.31
Next Scheduled Meeting: Tuesday, March 6, 2012
S The City of Tukwila strives to accommodate individuals with disabilities.
Please contact the City Clerk's Office at 206 433 -1800 or (tukclerk @tukwilawa.gov) for assistance.
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City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Haggerton
Finance and Safety Committee
FROM: B/C Don Tomaso, Fire Marshal
DATE: February 14, 2012
SUBJECT: Fire and Parks Impact Fee Ordinance updates.
ISSUE
To clear up language conflicts within both ordinances and provide clarification language for
developers as to how we implement the Fire and Parks impact fee ordinances within the City.
In addition, we have worked with Parks to update their capital project list for the ordinance.
BACKGROUND
The City adopted Fire and Parks impact fees in December of 2008, and The Department of
Community Development was managing both ordinances until the middle of 2010 when the Fire
Department took over the task of assessing and working with developers for Fire and Parks
impact fees. During this time we noticed some language and interpretation issues that most
developers were having trouble with when they tried to estimate their impact fees.
ANALYSIS
Staff reviewed the difficulties that most developers were experiencing and examined the
language in the ordinances for conflicts. Staff then met with the City Attorney to review the
issues and to better understand the intent and purpose of the Fire and Parks impact fees
structure. The proposed changes will make the administration of the ordinances less
demanding on staff and provide greater clarity for developers.
RECOMMENDATION
The Council is being asked to consider the 2 ordinances at the February 27, 2012 Committee of
the Whole meeting and March 5, 2012 Regular Meeting.
ATTACHMENTS
Draft Fire Impact Fee Ordinance
Draft Park Impact Fee Ordinance
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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, REPEALING ORDINANCE NO. 2219,
AS CODIFIED IN TUKWILA MUNICIPAL CODE (TMC) CHAPTER
16.26; REENACTING TMC CHAPTER 16.26, "FIRE IMPACT
FEES," TO AMEND THE PROCESS FOR IMPOSING AND
ADMINISTERING FIRE IMPACT FEES TO BETTER ADDRESS THE
NATURE OF DEVELOPMENT ACTIVITY IN TUKWILA; PROVIDING
FOR SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE.
WHEREAS, the City Council adopted Ordinance No. 2219 on December 15, 2008;
and
WHEREAS, after implementation of Ordinance No. 2219, certain refinements have
been identified based on the unique nature of the development activity in Tukwila; and
WHEREAS, the City desires to simplify the process of imposing and administering
fire impact fees;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY ORDAINS AS FOLLOWS:
Section 1. TMC Chapter 16.26 Reenacted. Tukwila Municipal Code (TMC)
Chapter 16.26 is hereby reenacted to read as follows:
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CHAPTER 16.26
FIRE IMPACT FEES
Sections:
16.26.010
Authority and Purpose
16.26.020
Findings
16.26.030
Definitions
16.26.040
Fire Impact Fee Assessment
16.26.050
Use of Fire Impact Fees
16.26.060
Fire Impact Fee Capital Facilities Plan
16.26.070
Fire Impact Fee Formula
16.26.080
Fire Impact Fee Adjustments
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16.26.090
Credits
16.26.100
Appeals
16.26.110
Refunds
16.26.120 Exemptions
16.26.130 Authority Unimpaired
16.26.010 Authority and Purpose.
A. Authority. The City of Tukwila's impact fee financing program has been
developed pursuant to the City of Tukwila's policy powers, the Growth Management Act as
codified in Chapter 36.70A of the Revised Code of Washington (RCW).
B. Purpose. The purpose of the financing plan is to:
1. Develop a program consistent with Tukwila's Fire Department Capital
Facilities Plan and the Capital Improvement Program for joint public and private financing
of fire protection services necessitated in whole or in part by development within the City of
Tukwila;
2. Ensure adequate levels of public fire protection and service are consistent
with the current level of service standards;
3. Create a mechanism to charge and collect fees to ensure that new
development bears its proportionate share of the capital costs of public fire protection
facilities necessitated by development; and
4. Ensure fair collection and administration of such fire impact fees.
16.26.020 Findings. The City Council finds and determines that new growth and
development in the City create additional demand and need for public fire protection
facilities in the City, and the City Council finds that Re growth and development should
pay its proportionate share of the costs of the for new f� epliGe facilities needed to
serve thenew growth and development in the City. Therefore, pursuant to RCW 36.70A
and RCW 82.02.050 throuqh 82.02.100, which authorize the Citv to impose and collect
impact fees to fund public facilities that serve arowth, the Citv Council adopts th
ordinance to impose fire protection impact fees for fire protection services. The —Git
GounGil believes that thiS Gan be aGGOFnp shed by the assessment of fiFe *MpaGt fees
It is the Council's
intent that the provisions of this ordinance be liberally construed in establishing the fire
impact fee program.
16.26.030 Definitions. Terms or words not defined herein shall be defined pursuant to
RCW 82.02.090 when given their usual and customary meaning. For the purposes of
this ordinance, unless the context or subject matter clearly requires otherwise, the
words or phrases defined in this section shall have the following meanings:
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r 1 1
121. "Building permit" means an official document or certification of the City of
Tukwila issued by the City's building official which authorizes the construction,
alteration, enlargement, conversion, reconstruction, remodeling, rehabilitation, erection,
placement, demolition, moving, or repair of a building or structure.
23. "City" means the City of Tukwila, Washington, County of King.
3 4. "Development activity" means any construction, reconstruction, or
expansion of a building, or-structure, or use, or anv chanaes in use of a buildina or
structure, or anv vl- eCt d
chanaes in the use of land, that rem �irec requirina development
a2proval. c-reat +ienal and n for fire etyfanli iec
J cer' vc. T 1TCIrrC� an rrcc v 7'vl TfT� safety c
4 5. "Development approval" means any written authorization from the City,
which authorizes the commencement of the "development activity."
5 6. "Encumber" means to reserve, set aside, or earmark the fire impact fees in
order to pay for commitments, contractual obligations, or other liabilities incurred for the
provision of fire protective services.
6 7. "Fee payer" is a person, corporation, partnership, an incorporated
association or governmental agency, municipality, or similar entity commencing a land
development activity that requires a building permit and creates a demand for additional
fire capital facilities.
7 8. "Impact fee" means the payment of money imposed by the City on
development activity pursuant to this ordinance as a condition of granting development
approval in order to pay for the fire facilities needed to serve new growth and
development that is a proportionate share of the cost of fire capital facilities that is used
for facilities that reasonably benefit oew development. Impact fees do not include a
reasonable permit fees, ae- application fees, and administrative fees for collecting
and handling fire impact fees, or the cost of reviewing independent fee calculations.
8 -9. "Owner" means the owner of record of real property, as found in the
records of King County, Washington, or a person with an unrestricted written option to
purchase property; provided, that if the real property is being purchased under a
recorded real estate contract, the purchaser shall be considered the owner of the
property.
9 4-0. "Proportionate share" means that portion of the cost for fire facility
improvements that are reasonably related to the service demands and needs of new
development.
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1 "Fire protection facilities fa -+RGIudes means all oublicly
owned apparatus and buildings within the Citv that are used for fire protection and /or
emeraencv response and aid. means th e follewing r.anital facilities Owned Or Operated by
governmental ontitin (1) publiG streets and reads
spa-G anf'd recreational facilities; Scheel faciliti (/I\ fire nmtertien facilities net part
of a fire rdis t• anrd n e faclif-
i c nnr e
d essential public fa rdefined by
Chapter 36.70A RGW-.
ti CA7���T�'�TI7e�Ci TC(
GTTi[7...... GtTtF ti.TJ'w. 'Cmir..3 a
16.26.040 Fire Impact Fee Assessment.
A. The City shall collect fire impact fees from applicants seeking development
approvals from the City for any development activity in the City for which building
permits are required effective January 1, 2009, consistent with h the D r o vyis ions of this
This ordinance- n;Tw i R h
the �CI Q7 TL ex I oG, wPY7 i I i Gh Create t Qe
for fire nretenfien seniices
B. Fire impact fees shall be assessed at the time of a technically complete
building permit application that complies with the City's zoning ordinances and building
and development codes. Fire impact fees shall be collected from the fee payer at the
time the building permit is issued.
C. Except if otherwise exempt, the City shall not issue the required building permit
unless or until the fire impact fees are paid.
16.26.050 Use of Fire Impact Fees.
A. Pursuant to this ordinance, fire impact fees shall be used for fire facilities that
will reasonably benefit growth and development, and only for fire protection facilities
addressed by the City's Capital Facilities Element of the Comprehensive Plan. the -G+ty
aR d its residents
B. Fees shall not be used to make up deficiencies in City facilities serving an
existing development.
C. Fees shall not be used for maintenance and operations, including personnel.
D. Fire impact fees shall be used for, but not limited to, land acquisition, site
improvements, engineering and architectural services, permitting, financing,
administrative expenses and applicable mitigation costs, and capital equipment
pertaining to fire protection facilities.
E. Fire impact fees may also be used to recoup public improvement costs incurred
by the City to the extent that n growth and development will be served by the
previously constructed improvement.
F. In the event bonds or similar debt instruments are or have been issued for fire
facility improvements, impact fees may be used to pay the principal on such bonds.
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16.26.060 Fire Impact Fee Capital Facilities Plan. In order to collect fire impact fees,
the City must first adopt a Fire Capital Facilities Plan as an element of the City's
Comprehensive Plan. The City's Capital Facilities Plan for fire protection services shall
consist of the following elements:
1. The City's capacity over the next six years, based on an inventory of the
City's fire facilities both existing and under construction;
2. The forecast of future needs for fire facilities based upon the City's
population projections;
3. A six -year financial plan component, updated as necessary, to maintain at
least a six -year forecast for financing needed within projected funding levels;
4. Application of the formula set forth in this ordinance based upon the
information in the Capital Facilities Plan; and
5. City Council Action. No new or revised impact fee shall be effective until
adopted by the City Council following a duly advertised public hearing to consider the
City's Capital Facilities Plan or plan update.
16.26.070 Fire Impact Fee Formula.
A. The impact fee formula is based on the assumptions found in Tukwila Fire
Impact Fees, 2008, Exhibit A, and Tukwila Fire Department Capital Facilities List,
Exhibit B, both attached hereto and by this reference fully incorporated herein.
FIRE IMPACT FEE CALCULATIONS
Impact Fee
Land Use Per Residential Unit Per 1,000 Sq. Ft. GFA
Single family $922
Multi- family $1,200
Office $1,624
Retail $580
Industrial $127
B. Each development shall mitiqate its impacts on the Citv's fire protection
facilities by pavment of a fee that is based on the We of land use and square footaqe of
the development, and proportionate to the cost of the fire protection facilitv
improvements necessary to serve the needs of qrowth.
C. Applications for a chanqe of use shall receive credit based on the existinq use.
This credit is calculated by deductinq the fee amount of the existinq use from the fee of
the proposed use.
16.26.080 Fire Impact Fee Adjustments.
A. The City may adjust a fire impact fee at the time the fee is imposed in order to
consider unusual circumstances in specific cases to ensure that impact fees are imposed
fairly.
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B. In calculating the fee imposed on a particular development, the City shall permit
consideration of studies and data submitted by a developer in order to adjust the amount
of the fee. The developer shall submit an independent fee calculation study to the Fire
Chief who shall review the study to determine that the study:
Is based on accepted impact fee assessment practices and methodologies,
2. Uses acceptable data sources and the data used is comparable with the uses
and intensities planned for the proposed development activity;
3. Complies with the applicable state laws governing impact fees;
4. Is prepared and documented by professionals who are mutually agreeable to
the City and the developer and who are qualified in their respective fields; and
5. Shows the basis upon which the independent fee calculation was made.
C. In reviewing the study, the Fire Chief may require the developer to submit
additional or different documentation. If an acceptable study is presented, the Fire Chief
may adjust the fee for the particular development activity. The Fire
Chief shall consider the documentation submitted by the applicant, but is not required to
accept such documentation that the Chief reasonably deems to be inaccurate or
unreliable. if aR aGGeptable study is net pre6ented, the developer shall pay the
fees -requiFed -pFieF to submittiRg the study.
D. A developer requesting an adjustment or independent fee calculation may pay the
impact fees imposed by this ordinance in order to obtain a building permit while the City
determines whether to partially reimburse the developer by making an adjustment or b
accepting the independent fee calculation.
16.26.090 Credits. In computing the fee applicable to a qiven development, credit
shall be given for the fair market value measured at the time of dedication. for anv
dedication of land for improvements to, or new construction of, anv fire protection
facilities that are identified in the Capital Facilities Element and that are required by the
Cit as a cond of approvinq the
development activity. fee pay Ga request that
a— GFedit, OF GFetlits, to
awarded the fee l
the f
payer c)r va of dediGate 1 and
N 1 "-�°r v rn acarauccci l rcmcr
t hat Y` e deRtified i n_ the _Capital Fondies RaR and that are
ren _d her the Gity as a nnn&inn of approving the development aGtnrity
16.26.100 Appeals.
A. Any fee payer may pay the impact fees imposed by this ordinance under protest
in order to obtain a building permit.
B. Appeals regarding fire impact fees imposed on any development activity may only
be submitted by the fee payer of the property where such development activity will
occur. No appeal shall be permitted unless and until the impact fee at issue has been
paid.
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C. Determinations of-by the City staff with respect to the applicability of fire impact
fees to a given development activity, or the availability of a credit, can be appealed to the
City's Hearing Examiner pursuant to this section.
D. An appeal shall be filed within 10 working days of payment of the impact
fees under protest or within 10 working days of the City's issuance of a written
determination of a credit or exemption decision by filing with the City Clerk a notice of
appeal giving the reasons for the appeal and with in- inn the accompanying appeal
fee as set forth in the existing fee schedule for land use decisions.
16.26.110 Refunds.
A. If the City fails to expend or encumber the impact fees within six years from the
date the fees were paid, unless extraordinary circumstances or reasons exist, the
current owner of the property on which the impact fees were paid may receive a refund
of such fees.
B. The City shall notify potential claimants by first class mail that they are entitled
to a refund. In determining whether impact fees have been expended or encumbered,
impact fees shall be considered expended or encumbered on a first -in, first -out basis.
C. Owners seeking a refund must submit a written request for a refund of the fees
to the City within one year of the date the right to claim a refund arises or notice is
given, whichever comes later.
D. Any impact fees for which no application has been made within the one -year
period shall be retained by the City and expended on appropriate fire facilities.
E. Refunds of impact fees shall include any interest earned on the impact fees by
the City.
16.26.120 Exemptions. The fire impact fees are generated from the formula for
calculating the fees as set forth in this ordinance. The amount of the impact fees is
determined by the information contained in the adopted fire department master plan and
related documents, as appended to the City's Comprehensive Plan. All new
development activitv located within the City wi4 -shall be charged a fire impact fee;
provided, that the following exemptions shall apply. Any development activity or project
which has submitted a technically complete building permit application prior to the
effective date of this ordinance shall be exempt from the payment of fire impact fees.
The following shall be exempt from fire impact fees:
1. Replacement of a structure with a new structure having the same use, at
the same site, and with the same gross floor area, when such replacement is within 12
months of demolition or destruction of the previous structure.
2. Alteration or expansion of, or remodeling of, an existing dwelling or
structure where no new units are created and the use is not changed.
3. Construction of an accessory residential structure.
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4. Miscellaneous improvements including, but not limited to, fences, walls,
swimming pools, and signs that do not create an increase in demand for fire services.
5. Demolition of or moving an existing structure within the City from one site
to another.
6. Low income housing developed by individuals, nonprofit corporations, or a
housing authority may be exempted from impact fees at the discretion of City staff
subject to:
a. Submittal of a F-fiscal impact analysis of the effect of impact fees upon
low- income housing and how exempting such housing from impact fees would forward
the goals for low- income housing in the City and King County;
b. That Submittal of adequate documentation be previded that the
showinq that housing will remain available for low- income persons for a 10 -year period
of time at affordable rents; and
c. In the case of owner occupied dwellings, submittal of adequate
documentation showina that such housing will be sold or leased at affordable rates to
low- income households for a period of 10 years. aid
d. The impact fee for exempt development under this subsection shall be
calculated as provided by this ordinance and paid with public funds. Such payments
may be made by including such amounts in the public share of the system
improvements undertaken within the City for fire protection services and facilities.
7. Chanqe of Use. A development permit for a chanae of use that has less
impact than the existina use shall not be assessed a fire impact fee.
rG+
OF stn,r t hat rn ,e requirements of th s ubpart shall he exempt from the
requiremeRt tG pay all impaGt fees. To quality for this exemptieR, all of the following
mar.... the
applinahle requirements shall he met:
a For non_ residential str,,ntu C r the ReR FG tial port of mixed
stpaGW Fo s addi gross f
a For residential str„nt„r or the part of mixed use stR anti Ir
add hE)US'Rg units may be added.
n_ eC t he stnsGWre h n replan all have been
demolished er rnc)ved outside the City of Tukwila.
:nom �rr ver�c�. r'cf.�rac
16.26.130 Authority Unimpaired. Nothing in this ordinance shall preclude the City
from requiring the fee payer to mitigate adverse and environmental effects of a specific
development pursuant to the State Environmental Policy Act, Chapters 43.21C RCW
and /or Chapter 58.17 RCW, governing plats and subdivisions, provided that the
exercise of this authority is consistent with Chapters 43.21 C and 82.02 RCW.
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Section 2. Repealer. Ordinance No. 2219, as codified in TMC Chapter 16.26,
"Fire Impact Fees," is hereby repealed.
Section 3. Corrections by City Clerk or Code Reviser. Upon approval of the
City Attorney, the City Clerk and the code reviser are authorized to make necessary
corrections to this ordinance, including the correction of clerical errors; references to
other local, state or federal laws, codes, rules, or regulations; or ordinance numbering
and section /subsection numbering.
Section 4. Severability. If any section, subsection, paragraph, sentence, clause
or phrase of this ordinance or its application to any person or situation should be held to
be invalid or unconstitutional for any reason by a court of competent jurisdiction, such
invalidity or unconstitutionality shall not affect the validity or constitutionality of the
remaining portions of this ordinance or its application to any other person or situation.
Section 5. Effective Date. This ordinance or a summary thereof shall be
published in the official newspaper of the City, and shall take effect and be in full force
five days after passage and publication as provided by law.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at
a Regular Meeting thereof this day of 2012.
ATTEST /AUTHENTICATED:
Christy O'Flaherty, MMC, City Clerk Jim Haggerton, Mayor
APPROVED AS TO FORM BY: Filed with the City Clerk:
Passed by the City Council:
Published:
Effective Date:
Shelley M. Kerslake, City Attorney Ordinance Number:
Attachments: Exhibit A Tukwila Fire Impact Fees, 2008
Exhibit B Fire Department Capital Facilities List
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u -v
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, REPEALING ORDINANCE NO. 2220, AS
CODIFIED IN TUKWILA MUNICIPAL CODE (TMC) CHAPTER 16.28;
REENACTING TMC CHAPTER 16.28, "PARKS IMPACT FEES," TO
AMEND THE PROCESS FOR IMPOSING AND ADMINISTERING
PARKS IMPACT FEES TO BETTER ADDRESS THE NATURE OF
DEVELOPMENT ACTIVITY IN TUKWILA; PROVIDING FOR
SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE.
WHEREAS, the City Council adopted Ordinance No. 2220 on December 15, 2008;
and
WHEREAS, after implementation of Ordinance No. 2220, certain refinements have
been identified based on the unique nature of the development activity in Tukwila; and
WHEREAS, the City desires to simplify the process of imposing and administering
parks impact fees,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY ORDAINS AS FOLLOWS:
Section 1. TMC Chapter 16.28 Reenacted. Tukwila Municipal Code (TMC)
Chapter 16.28 is hereby reenacted to read as follows:
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CHAPTER 16.28
PARKS IMPACT FEES
Sections:
16.28.010
Authority and Purpose
16.28.020
Findings
16.28.030
Definitions
16.28.040
Parks Impact Fee Assessment
16.28.050
Use of Parks Impact Fees
16.28.060
Parks Impact Fee Capital Facilities Plan
16.28.070
Parks Impact Fee Formula
16.28.080
Parks Impact Fee Adjustments
16.28.090
Credits
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16.28.100
Appeals
16.28.110
Refunds
16.28.120
Exemptions
16.28.130
Authority Unimpaired
16.28.010 Authority and Purpose.
A. Authority. The City of Tukwila's impact fee financing program has been
developed pursuant to the City of Tukwila's policy powers, the Growth Management Act
as codified in Chapter 36.70A of the Revised Code of Washington (RCW).
B. Purpose. The purpose of the financing plan is to:
1. Develop a program consistent with Tukwila's Parks and Recreation
Department Capital Facilities Plan for joint public and private financing of public parks
facilities and services necessitated in whole or in part by development within the City of
Tukwila;
2. Create a mechanism to charge and collect fees to ensure that new
development bears its proportionate share of the capital costs of public parks facilities
necessitated by new development; and
3. Ensure fair collection and administration of such fire impact fees.
16.28.020 Findings. The City Council finds and determines that Rew growth and
development in the City create additional demand and need for public parks facilities in
the City, and the City Council finds that new growth and development should pay its
proportionate share of the costs of the ^r new parks facilities needed to serve new the
growth and development in the City. Therefore, pursuant to RCW 36.70A and RCW
82.02.050 through 82.02.100, which authorizes the Citv to impose and collect impact
fees to fund public facilities that serve arowth, the Citv Council adopts this ordinance to
impose parks impact fees for parks services. Th e G ity GeURGil b e li eves t t Ga be
aGGGITIplished by the assessment of parks impaGt fees on new residential,
and striae development On the City. It is the Council's intent that the provisions of
this ordinance be liberally construed in establishing the parks impact fee program.
16.28.030 Definitions. Terms or words not defined herein shall be defined pursuant to
RCW 82.02.090 when given their usual and customary meaning. For the purposes of
this ordinance, unless the context or subject matter clearly requires otherwise, the
words or phrases defined in this section shall have the following meanings:
1. T rhe "Ac neaRS t Growth Manag Act, Chapte 17Laws of 1990
Z7� TTJ�
First x Ses s i on Ch apter 36 70 RQN t seq. and te 32, Laws of
1991 First C nonial Session as n�ni in tenon or heFeina ter amended
2 "Building permit" means an official document or certification of the City of
Tukwila issued by the City's building official which authorizes the construction,
alteration, enlargement, conversion, reconstruction, remodeling, rehabilitation, erection,
placement, demolition, moving, or repair of a building or structure.
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32. "City" means the City of Tukwila, Washington, County of King.
4 "Development activity" means any construction, reconstruction, or
expansion of a building or—structure, or use, or anv changes in use of a building or
structure. or anv chanaes in the use of land. requirinq development approval.that
54. "Development approval" means any written authorization from the City,
which authorizes the commencement of the "development activity."
6 "Encumber" means to reserve, set aside, or earmark the parks impact
fees in order to pay for commitments, contractual obligations, or other liabilities incurred
for the provision of parks services.
7 "Fee payer" is a person, corporation, partnership, an incorporated
association or governmental agency, municipality, or similar entity commencing a land
development activity that requires a building permit and creates a demand for additional
parks capital facilities.
6 "Impact fee" means the payment of money imposed by the City on
development activity pursuant to this ordinance as a condition of granting development
approval in order to pay for the parks facilities needed to serve Rew growth and
development that is a proportionate share of the cost of parks capital facilities that is
used for facilities that reasonably benefit new development. Impact fees do not include
a- reasonable permit fees, a-n-application fees, and- the administrative fees for collecting
and handling parks impact fees., or the cost of reviewing independent fee calculations.
-9 "Owner" means the owner of record of real property, as found in the
records of King County, Washington, or a person with an unrestricted written option to
purchase property; provided, that if the real property is being purchased under a
recorded real estate contract, the purchaser shall be considered the owner of the
property.
4-0 "Proportionate share" means that portion of the cost for parks facility
improvements that are reasonably related to the service demands and needs of new
development.
1 iGParks facilities" means following capital faciliti 9w1le— ri
or
(1 p blip streets and roars_(2 publiGly owned
+r,• (4) fire protection
fac ilities.. net Part of a fire dicfrint• anal (5) Police faciliti n a nd essential public faci c as
defined by Chapter 36.70A those capital facilities identified as park and
recreational facilities in the Citv's Capital Facilities Plan.
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16.28.040 Parks Impact Fee Assessment.
A. The City shall collect parks impact fees from applicants seeking development
approvals from the City for any development activity in the City for which building
permits are required, effective January 1, 2009, consistent with the provisions of this
s#apterordinance. .,s will inGl de the ovnoncinn of existing w hiGh G`a+o�c
dem J nA nt1�s
B. Parks impact fees shall be assessed at the time of a technically complete
building permit application that complies with the City's zoning ordinances and building
and development codes. Parks impact fees shall be collected from the fee payer at the
time the building permit is issued.
C. Except if otherwise exempt, the City shall not issue the required building permit
unless or until the parks impact fees are paid.
16.28.050 Use of Parks Impact Fees.
A. Pursuant to this ordinance, parks impact fees shall be used for parks facilities
that will reasonably benefit arowth and development, and only for park facilities
addressed by the Citv's Capital Facilities Element of the Comprehensive Plan.the -City
an its fcesideRtS.
B. Fees shall not be used to make up deficiencies in City facilities serving an
existing development.
C. Fees shall not be used for maintenance and operations, including personnel.
D. Parks impact fees shall be used for but not limited to land acquisition, site
improvements, engineering and architectural services, permitting, financing,
administrative expenses and applicable mitigation costs, and capital equipment
pertaining to parks facilities.
E. Parks impact fees may also be used to recoup public improvement costs
incurred by the City to the extent that Rew- growth and development will be served by
the previously constructed improvement.
F. In the event bonds or similar debt instruments are or have been issued for
parks facility improvements, impact fees may be used to pay the principal on such
bonds.
16.28.060 Parks Impact Fee Capital Facilities Plan. In order to collect parks impact
fees, the City must first adopt a parks capital facilities plan as an element of the City's
Comprehensive Plan. The City's capital facilities plan for parks services shall consist of
the following elements:
1. The City's capacity over the next six years, based on an inventory of the
City's parks facilities both existing and under construction;
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2. The forecast of future needs for parks facilities based upon the City's
population projections;
3. A six -year financial plan component, updated as necessary, to maintain at
least a six -year forecast for financing needed within projected funding levels;
4. Application of the formula set forth in this ordinance based upon the
information in the capital facilities plan; and
5. City Council Action. No new or revised impact fee shall be effective until
adopted by the City Council following a duly advertised public hearing to consider the
City's capital facilities plan or plan update.
16.28.070 Parks Impact Fee Formula.
A. The impact fee formula is based on the assumptions found in Tukwila Parks
Impact Fees, 2008, Exhibit A, and Tukwila Parks Capital Facilities List, Exhibit B, both
attached hereto and by this reference fully incorporated herein.
PARKS IMPACT FEE CALCULATIONS
Land Use
Single Family
Multi- Family
Office
Retail
Industrial
Impact Fee
Per Residential Unit Per 1,000 Sq. Ft. GFA
$1,426
$1,398
$837
$419
$262
B. Each development shall mitiqate its impacts on the Citv's parks facilities by
payment of a fee that is based on the tvpe of land use and square footage of the
development, and proportionate to the cost of the parks -facility improvements
necessary to serve the needs of arowth.
C. Applications for a chanqe of use shall receive credit based on the existing use.
This credit is calculated by deductinq the fee amount of the existinq use from the fee of
the proposed use.
16.28.080 Parks Impact Fee Adjustments.
A. The City may adjust a parks impact fee at the time the fee is imposed in order
to consider unusual circumstances in specific cases to ensure that impact fees are
imposed fairly.
B. In calculating the fee imposed on a particular development, the City shall
permit consideration of studies and data submitted by a developer in order to adjust the
amount of the fee. The developer shall submit an independent fee calculation study to
the Director of Parks and Recreation, who shall review the study to determine that the
study:
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1. Is based on accepted impact fee assessment_ practices and
methodologies;
2. Uses acceptable data sources and the data used is comparable with the
uses and intensities planned for the proposed development activity;
3. Complies with the applicable state laws governing impact fees;
4. Is prepared and documented by professionals who are mutually agreeable
to the City and the developer and who are qualified in their respective fields; and
5. Shows the basis upon which the independent fee calculation was made.
C. In reviewing the study, the Director of Parks and Recreation ("Director") may
require the developer to submit additional or different documentation. If an acceptable
study is presented, the Director of Parks and Recreation may adjust the fee to that
for the particular development activity. The Director shall consider the
documentation submitted by the applicant, but is not required to accept such
documentation that the Director reasonabiv deems to be inaccurate or unreliable. ff-a-n
aGGeptable study is RGt presented, the ddevelepeF shall pay the irnpaGt fees Fequir
prier to subMitt!Rg the study.
D. A developer requesting an adjustment or independent fee calculation may pay
the impact fees imposed by this ordinance in order to obtain a building permit while the
City determines whether to partially reimburse the developer by making an adjustment
or by accepting the independent fee calculation.
16.28.090 Credits. In computing the fee applicable to a qiven development, credit
shall be qiven for the fair market value measured at the time of dedication. for anv
dedication of land for improvements to, or new construction of. anv parks facilities that
are identified in the Capital Facilities Element and that are required by the Citv as a
condition of approving the development activitv. fee payee °n request that a nror♦i+
W OF ReW Genc +r„n +inn of a sys tem irnpFe'Jements prov b the _deyeln. to
faGilities that are ideRtified i R the Gapital faGilities plan and that we 1 -ked by the City
16.28.100 Appeals.
A. Any fee payer may pay the impact fees imposed by this ordinance under
protest in order to obtain a building permit.
B. Appeals regarding parks impact fees imposed on any development activity may
only be taker}- submitted by the fee payer of the property where such development
activity will occur. No appeal shall be permitted unless and until the impact fee at issue
has been paid.
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C. Determinations ef--by the City staff with respect to the applicability of parks
impact fees to a given development activity, or the availability of a credit, can be
appealed to the City's Hearing Examiner pursuant to this section.
D. An appeal shall be taken filed within 10 working days of payment of the impact
fees under protest or within 10 working days of the City's issuance of a written
determination of a credit or exemption decision by filing with the City Clerk a notice of
appeal giving the reasons for the appeal and paving the with an accompanying appeal
fee as set forth in the existing fee schedule for land use decisions.
16.28.110 Refunds.
A. If the City fails to expend or encumber the impact fees within six years from the
date the fees were paid, unless extraordinary circumstances or reasons exist, the
current owner of the property on which the impact fees were paid may receive a refund
of such fees.
B. The City shall notify potential claimants by first class mail that they are entitled
to a refund. In determining whether impact fees have been expended or encumbered,
impact fees shall be considered expended or encumbered on a first -in, first -out basis.
C. Owners seeking a refund must submit a written request for a refund of the fees
to the City within one year of the date the right to claim a refund arises or notice is
given, whichever comes later.
D. Any impact fees for which no application has been made within the one -year
period shall be retained by the City and expended on appropriate parks facilities.
E. Refunds of impact fees shall include any interest earned on the impact fees by
the City.
16.28.120 Exemptions. The parks impact fees are generated from the formula for
calculating the fees as set forth in this ordinance. The amount of the impact fees is
determined by the information contained in the adopted parks master plan and related
documents, as appended to the City's Comprehensive Plan. All flew development
activitv located within the City wit-I- -shall be charged a parks impact fee; provided, that
the following exemptions shall apply. Any development activity or project which has
submitted a technically complete building permit application prior to the effective date of
this ordinance shall be exempt from the payment of parks impact fees. The following
shall be exempt from parks impact fees:
1. Replacement of a structure with a new structure having the same use, at
the same site, and with the same qross floor area, when such replacement is within 12
months of demolition or destruction of the previous structure.
2. Alteration, er expansion, of or remodeling of an existing dwelling or
structure where no new units are created and the use is not changed.
3. Construction of an accessory residential structure.
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4. Miscellaneous improvements including, but not limited to, fences, walls,
swimming pools, and signs that do not create an increase in demand for barks services.
5. Demolition of or moving an existing structure within the City from one site
to another.
6. Low income housing developed by individuals, nonprofit corporations, or a
housing authority may be exempted from impact fees at the discretion of City staff
subject to:
a. Submittal of a fiscal impact analysis of the effect of impact fees upon
low- income housing and how exempting such housing from impact fees would forward
the goals for low- income housing in the City and King County;
b That adequate Submittal of adequate documentation
showinq that the housing will remain available for low- income persons for a 10 -year
period of time at affordable rents; and
c. In the case of owner occupied dwellings, submittal of adequate
documentation showinq that such housing will be sold or leased at affordable rates to
low- income households for a period of 10 years.; and
d. The impact fee for exempt development under this subsection shall be
calculated as provided by this ordinance and paid with public funds. Such payments
may be made by including such amounts in the public share of the system
improvements undertaken within the City for parks services and facilities.
7. Chanqe of Use. A development permit for a change of use that has less
impact than the existina use shall not be assessed a parks impact fee.
7. The alteration, reGGRstrIJGt rernedeliRg, or replaGement of existing buildiRgs,
t hat n requirements of fh n „hn Ap i shall be exempt fro m the
I ient to pay all impaGt fees. To quality for this exemption, all ef the fGlIGW
east- r- �ete�.. ,,ut�ee� -t-h�
applirahle req uirements shall he met•
a For non_residen I stru,ntuur eZnon_ residential part of mixed use
rt4aT— �'a'c�v- cur n viT��ti.J r a�cr r cr u ca
struGt f qo a dd i t i GRa l g FGSS fI GGF area ma b e a
h For residenfial str, irti,r Or the resid part of mixed use str, Gtl ures
n
r. F or Fe StF the StFUGtUre being replaGed shall have beeR
16.28.130 Authority Unimpaired. Nothing in this ordinance shall preclude the City
from requiring the fee payer to mitigate adverse and environmental a of a
specific development pursuant to the State Environmental Policy Act, Chapters 43.21 C
RCW and /or Chapter 58.17 RCW, governing plats and subdivisions, provided that the
exercise of this authority is consistent with Chapters 43.21 C and 82.02 RCW.
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Section 2. Repealer. Ordinance No. 2220, as codified in TMC Chapter 16.28,
"Parks Impact Fees," is hereby repealed.
Section 3. Corrections by City Clerk or Code Reviser. Upon approval of the
City Attorney, the City Clerk and the code reviser are authorized to make necessary
corrections to this ordinance, including the correction of clerical errors; references to
other local, state or federal laws, codes, rules, or regulations; or ordinance numbering
and section /subsection numbering.
Section 4. Severability. If any section, subsection, paragraph, sentence, clause
or phrase of this ordinance or its application to any person or situation should be held to
be invalid or unconstitutional for any reason by a court of competent jurisdiction, such
invalidity or unconstitutionality shall not affect the validity or constitutionality of the
remaining portions of this ordinance or its application to any other person or situation.
Section 5. Effective Date. This ordinance or a summary thereof shall be
published in the official newspaper of the City, and shall take effect and be in full force
five days after passage and publication as provided by law.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a Regular Meeting thereof this day of 1 2012.
ATTEST /AUTHENTICATED:
Christy O'Flaherty, MMC, City Clerk Jim Haggerton, Mayor
APPROVED AS TO FORM BY: Filed with the City Clerk:
Passed by the City Council:
Published:
Effective Date:
Shelley M. Kerslake, City Attorney Ordinance Number:
Attachments: Exhibit A Tukwila Parks Impact Fees, 2008
Exhibit B Tukwila Parks Capital Facilities List
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22
EXHIBIT A
Tukwila Parks Impact Fees, 2008
TABLE 1: 2008 Park .Impact Fee Calculations
Land Use 2007 2007 2007 Building 2020 Housing
2020
2020 Building
Housing Employment Area -3 Units Employme
Non Tukwila
Area
Units -1 2
nt
Single- family 3,822 4,338
Residents
Multi- family 4,107 6,491
(Office 6,245 1,561,250
7,727
1,931,750
lRetail 20,384 10,192,000
25,220
12,610,000
Industrial 20,343 16,274,400
25,169
20,135,200
TOTALS 7,929 46,972 28,027,650 10,829
58,116
34,676,950
1. OFM
2. PSRC 2007 Covered Emplooyment Estimates
2,384
3. Retail: 500gsf per emp; Office: 250gsf per emp; Industrial: 800gsf per emp; X emp growth
4. 43 SF du /yr; rest is MF from 2007 Buildable Lands Report
5. 90% of Buildable Lands Report estimates, at same as 2007 employment
1,482
6. Tukwila Resident/Non- Tukwila resident breakdown based on 2000 census data
133
1,349
In 2000, the number of residents who live and work in Tukwila is 1,502, out of a population of
17,181
9%
Net Growth, 2008 2020
Housing Units Employment Building Employment Employment:
4
-5
Area 3
Tukwila
Non Tukwila
Residents
Residents
9 -6
91 -6
516
2,384
1,482
370,500
133
1,349
4,836
2,418,000
435
4,401
4,826
3,860,800
434
4,392
2,900
11,144
6,649,300
1,003
10,141
Impact Fee
Persons per
Hours per
Total
Hours
Cost
Per Housing
Per 1,000
Rounded
Housing Unit
Week
Hours
Allocation
Unit
GFA
2.54
2.54
3,329
11.78%
$0
$0.00
$0
2.49
2.49
14,781
52.32%
$0
$0.00
$0
1.00
1,349
4.77%
$0
$0.00
$0
1.00
4,401
15.58%
$0
$0.00
$0
1.00
4,392
15.55%
$0
$0.00
$0
28,251
100.00%
Note: $11,025,000 is 90% of $12,250,000
23
24
Exhibit B
Tukwila Parks Capital Facilities List
Project List Impact Fees 2009 to 2015
Duwamish Hill Preserve
Trail Connections
Tukwila Pond
City ef Tukwila Peel
Develop Phase II
Green River Trail to Renton
Black /Cedar River Trail
Development Phase IV
TOD Pedestrian Bridge
Sounder Connection
Total
Project Cost
s,�2- ,889989
*$2,500,000
$500,000
2,000,000
$8,000,000
*Tukwila Pool removed from list due to the formation of the Metropolitan Park District, funds
added to the Duwamish Hill Preserve.
Exhibit B Parks Impact Fees
Revised January 2012
25
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City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Haggerton
Finance and Safety Committee
FROM: Assistant Chief of Police, Bruce Linton
DATE: February 15, 2012
SUBJECT: Tukwila Soliciting Law Effectiveness
ISSUE
The City of Tukwila's "Soliciting In Certain Areas Prohibited" ordinance, TMC 8.29.010
was effective on December 13, 2011. This informational memorandum is intended to
highlight anecdotal information along with statistical data relating to the impact of the
ordinance during the three months of enforcement.
BACKGROUND
During the September 26 Committee of The Whole (COW) Meeting and in a response to
numerous citizen complaints regarding aggressive and increasing pan handling throughout our
city, Councilman Dennis Robertson solicited support from the council to consider an ordinance
that would limit pan handling. He communicated specific safety concerns among the citizens
and indicated that this type activity created a safety issue. Under the direction and support of
Mayor Haggerton city staff researched and drafted the ordinance "Soliciting In Certain Areas
Prohibited" which outlined geographical areas along the Tukwila International Boulevard corridor
and the Central Business District.
The purpose of the ordinance is specified in the purpose statement as:
"...to provide the free flow of pedestrian and vehicle traffic on streets and sidewalks in the city,
to promote tourism and business, and to preserve the quality of urban life. Solicitation in
proximity to automated teller machines and outdoor patios where food and beverage are served
is inherently intimidating and should be restricted. By this legislation, the City Council intends to
promote the health, safety, and welfare of the citizens of and visitors to the City of Tukwila."
DISCUSSION
The Tukwila Police Department, responsible for enforcing this new law, came up with an
enforcement strategy. The Chief of Police's intent was to first train our officers on the specifics
of the law, then initiate the process through public education and enforcement.
Our officers were trained and businesses were notified of the new ordinance. A brochure
conveying details of the law identified resources to assist the needy and mentally ill. This
brochure is presented to violators contacted by the Tukwila Police. Violators are educated on
the new law and issued a warning one time per 12 -month period, after which further violations
will result in an arrest.
27
INFORMATIONAL MEMO
Page 2
As of Feb 15, 2012, after 3 months of enforcement and education on the new law, Tukwila
Police Department Officers have issued 45 warning citations. One repeat violator was arrested
during this time period.
A collection of anecdotal information from our officers and patrol supervisors revealed the
following;
Supervisors and officers reported that this is the best anti nuisance measure they have
seen and it's a "huge" tool in dealing with the aggressive pan handling issue.
A patrol supervisor reported appreciation from businesses such as the California Pizza
Kitchen and Westfield Mall management on the effectiveness of the ordinance and the
enforcement conducted by the officers.
A patrol supervisor reported on our officer "buy in" on the ordinance. He indicated that
there were no complaints regarding the extra work generated from the aggressive
enforcement effort.
The Central Business District (CBD) Team reported that the warnings are working and
have greatly reduced the number of solicitors in the CBD during the last month.
RECOMMENDATION
No recommendation. The above is for information only.
ATTACHMENTS
Soliciting Law Explanation Pamphlet
Panhandling Law pamphlet
Panhandling definition
Panhandling violations
No panhandling area map
City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Haggerton
Finance and Safety Committee
FROM: Peggy McCarthy, Interim Finance Director
DATE: February 15, 2012
SUBJECT: Fourth Quarter 2011 Cash Investment Report
ISSUE
Finance Policy and Procedure 03 -17, Investment Policy, calls for quarterly investment reports to
the Council Finance and Safety Committee. The report is to contain an inventory of investments
and a summary of performance. The second quarter Investment Report was presented at the
August 16 Finance and Safety Committee meeting. The fourth 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 institution, and by maturities in compliance with the City
Investment Policy.
DISCUSSION
Portfolio Components. At December 31, 2011, the portfolio totaled $40.6 million comprised of
$27.3 million in cash and cash equivalents and $13.2 in longer term investments. The portfolio
balance declined by $8 million from the June 30 balance of $48.6 million. Cash and cash
equivalents declined by $6.7 million and investments declined by $1.25 million. Two agency
notes with par values of $500,000 each were called and one certificate of deposit of $250,000
came due accounting for the $1.25 million decline. The proceeds from these investments, in
addition to the $6.7 million of cash and cash equivalents, or $8 million, funded debt service in
the amount of $2 million and arterial street projects in the amount of $6 million.
Portfolio Performance. The portfolio weighted average yield at year end was .99
Considering the portfolio's weighted average maturity was 1.4 years, and the yield on the one
year and two -year treasury notes were .10% and .24% respectively, the portfolio yield of .99% is
quite favorable. The yield has been sustained by the 4.05% average yield on the municipal
bond investments, 1.65% average yield on the agency notes, the 1.37% yield on the certificate
of deposits and the .50% earnings credit on the US Bank depository account.
Investment income for 2011 exceeded $430,000 compared with $322,512 in 2010 and with the
2011 budget of $177,377. Part of the increase from 2010, or $67,607, is due to an accounting
change. In 2011, the bank fees were recorded as an expense and the earning credit was
recorded as investment income. In 2010, neither the fees nor the revenue were recorded as the
amounts netted to zero.
31
INFORMATIONAL MEMO
Page 2
Market value changes have no realized effect on the portfolio performance because
investments are held to maturity consistent with the City's policy. However, it worth noting that,
because of the decline in interest rates over the year, the market value of the portfolio increased
from a market value loss of $127,822 at December 31, 2010 to a market value gain of $299,416
at December 31, 2011.
Policv Compliance and Liauiditv Analvsis. The portfolio profile met all the investment policy
parameters at year -end, except for the "Financial Institution Diversification" factor whereby
72.5% of the portfolio was invested in the US Bank depository account exceeding the 50%
policy maximum. The overage occurred because additional funds were moved into US Bank in
the latter part of the year to take advantage of the .50% earnings credit which yielded $67,607
for the year. Funds totaling $13 million have been transferred to other financial institutions since
year -end.
Fund Cash Investment Balances. Cash and investment balances of selected funds follow:
Fund
Fund Description
Portfolio Balance in Millions
12 -31 -11
6 -30 -11
12 -31 -10
000
General
$2.9
$7.1
$2.7
104
Arterial Street
$4.6
$8.9
$9.8
209
Debt Service 2003
$3.1
bonds
301
Land Acquisition, Park
$1.7
$4.8
$4.7
Development
The General Fund balance declined compared with the June 30 balance due to transfers out to
fund debt service and arterial street projects; the 2011 year -end balance is comparable with the
2010 balance. The Arterial Street Fund balance shows a continual decline which was expected
as funds have been expended for the Southcenter Access Project and the Southcenter Parkway
projects. The increase in the Debt Service fund and the corresponding decrease in the Land
Acquisition and Park Development fund reflects a transfer of funds for servicing the golf course
bond debt from a governmental fund as resolved by the Council at the November 21, 2011
regular meeting.
Investment Environment. Interest rates dropped in the second half of the year and are expected
to remain low until 2014. The portfolio will be managed to take advantage of investment
opportunities as they arise.
RECOMMENDATION
Information Only.
ATTACHMENTS
Cash and Investment Report
Policy Compliance Liquidity Analysis
Cash and Investment Balances by Fund
Treasury Rates and Yield Curves
W:12012 Info Memos- CounciftImstmnt Rprt 12- 31- 11.docx
32
CITY OF TUKWILA
CASH INVESTMENT REPORT
December 31, 2011
(a)
Purchase Maturity Term Par Book Yield to Annualized
Date Date Yrs Value Balance Maturity Return
Various
Rating
Agency Issuer
Moody! Investment Type
CASH CASH EQUIVALENTS
67,607
US Bank
Depository
Washington State Treasurer
LGIP Investment Pool
Regal Bank
Money market
Columbia Bank
Money market
Total Cash Cash Equivalents
250,000
INVESTMENTS
2,475
Certificates of Deposit
(b)
(a)
Purchase Maturity Term Par Book Yield to Annualized
Date Date Yrs Value Balance Maturity Return
Various
(b)
25,997,304
25,997,304
0.50%
67,607
Various
(b)
100,893
100,893
0.13%
19,946
Various
(b)
250,000
250,000
0.99%
2,475
Various
(b)
1,021,734
1,021,734
0.25%
21,562
FNMA Step -up
27,369,931
27,369,931
0.41%
111,590
US Bank
Certificate of Deposit
02/15/2010
02/15/2013
3.0
Sound Community Bank
Certificate of Deposit
03/04/2011
03/04/2014
3.0
Sound Community Bank
Certificate of Deposit
11/15/2010
05/15/2012
1.5
CERTIFICATES OF DEPOSIT TOTAL
1.75%
26,250
2,500,000
2.9
Agencies
FNMA Step -up
US agency
02/22/2011
02/22/2016
5.0
Federal Home Loan Mortgage Corp
US agency
03/23/2011
09/23/2014
3.5
(FHLMC)
TOTAL AGENCIES
4.1
Taxable Municipal Bonds
City of Marysville, sinking 2014 -2017, Al LTGO Refunding
ave 5.5 years
Washington State Convention Center Aa3 Lodging Tax Bonds
Facility
UW Biomedical Center AA1 Revenue Bonds
UW Biomedical Center AA1 Revenue Bonds
Douglas County, ESD, sinking 2018- Aal UTGO
2020, ave 9 yrs
Port of Anacortes Al LTGO
Educational Servic District
TOTAL MUNICIPAL BONDS
Total Investments
TOTAL CASH, CASH EQUIVALENTS INVESTMENTS
3,450,000
3,000,000
503,414
6,953,414
1,000,000
1,500,000
2,500,000
11/23/2010
12/01/2017
5.5
535,000
11/30/2010
07/01 /2016
5.6
500,000
12/14/2010
07/01/2017
6.6
500,000
12/14/2010
07/01/2019
8.6
500,000
12/23/2010 12/01/2020 8.9 1,135,000
3,450,000
1.44%
49,680
3,031,564
1.40%
42,000
507,839
0.75%
3,776
6,989,404
1.37%
95,456
1,000,000
1.50% (e)
15,000
1,500,000
1.75%
26,250
2,500,000
1.65%
41,250
592,771 3.37% 19,976
506,521
3.60%
18,235
505,863
4.05%
20,487
505,511
4.70%
23,759
1,154,848 4.55% 52,546
12/17/2010 09/01/2020 9.7 340,000 328,113 5.00% 16,406
03/23/2011 12/01/2012 1.7 185,000 188,356 1.00% 1,884
7.3 3,695,000 3,781,984 4.05% 153,292
4.4 13,148,414 13,271,387 2.19% 289,998
1.4 40,518,345 40,641,319 1 0.99% I 401,588
Current Portfolio Yield
(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) Annualized return based on purchase price and yield to maturity.
(d) Estimated market value at 12 -31 -10 was $102,535 less than purchase price.
(e) Steps up to 3.25% on 2 -22 -12 if not called.
33
34
CITY OF TUKWILA
Policy Compliance Liquidity Analysis
CASH
INVESTMENT REPORT
December 31, 2011
As of Report Date
Available
Available
Available in
Portfolio
Within 1 Year
Within 5
5 10 Years
Liquidity Analysis Maturity Diversification
Amount
Years
Funds immediately available
27,369,931
27,369,931
27,369,931
Fixed Maturity Investments, maturing in:
First quarter 2012
Second quarter 2012
507,839
Third quarter 2012
Fourth quarter 2012
188,356
Investments maturing in 1 year or less
696,196
696,196
696,196
Investments maturing in 1 -3 years
7,981,564
7,981,564
Investments maturing in 3 -5 years
1,506,521
1,506,521
Investments maturing in 5 -7 years
1,098,634
1,098,634
Investments maturing in 7 -10 years
1,988,472
1,988,472
Investments maturing in more than 1 year
12,575,192
and less than 10 years.
TOTALS
40,641,319
28,066,127
37,554,212
3,087,106
69%
92%
11%
Investment Policy Parameters
POLICY LIMIT
PORTFOLIO
Policy Met?
Funds available within 1 year
30.0% min
69%
Yes
Funds available within 5 years
80.0% min
92%
Yes
Funds available in 5- 10 years
20.0% max
11%
Yes
Liquidity Requirements and Funds Available for Investing:
Funds immediately available
27,369,931
Restrictions designations:
Southcenter Parkway Project
4,331.034
Klickitat Project
7,000.000
Operating liquidity
(h) 14,000,000
Liquidity threshold
25,331,034
Funds available for longer term investing
2,038,897
(h) Represents largest one month decline in portfolio balance
over the most recent 36
month period
doubled; or the
equivalent of a 100% cushion.
Portfolio
POLICY
Policy
Financial Institution Diversification
Amount
of Total
MAXIMUM
Met?
US Bank
29,447,304
72.5%
50.0%
No
Washington State Treasurer
100,893
0.2%
75.0%
Yes
Columbia Bank
1,021,734
2.5%
50.0%
Yes
Sound Community Bank
3,539,404
8.7%
50.0%
Yes
Other financial institutions
6,531,984
16.1%
50.0%
Yes
Total
40,641,319
100.0%
Portfolio
POLICY
Policy
Investment Mix
Amount
of Total
MAXIMUM
Met?
Depository
25,997,304
64.0%
insured by PDPC
Yes
State Investment Pool
100,893
0.2%
75.0%
Yes
Money market
1,271,734
3.1%
insured by PDPC
Yes
Certificate of Deposit
6,989,404
17.2%
insured by PDPC
Yes
US Agency
2,500,000
6.2%
75.0%
Yes
Municipal Bonds
3,781,984
9.3%
no limit specified in policy
Yes
Total
40,641, 319
100.0%
Weiahted Averaae Maturites:
Years
Performance Analvsis
Certificates of deposit
2.9
Current
portfolio yield
0.99%
Agency bonds
4.1
Benchmarks:
Municipal bonds
7.3
6 month treasury
0.06%
Total Investments
4.4
2 year treasury
0.24%
Total Portfolio
1.4
Local Govt Invst Pool
0.13%
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.
34
CITY OF TUKWILA
Cash Investment Balances By Fund and Fund Group
CASH INVESTMENT REPORT
December 31, 2011
General
000
GENERAL
2,920,056
2,920,056
7,190,534
2,772,876
General Total
2,920,056
2,920,056
7,190,534
2,772,876
Special Revenue
101
HOTEL/MOTEL TAX
416,456
416,456
497,927
645,914
103
STREET
861,950
861,950
733,893
607,646
104
ARTERIAL STREET
3,551,345
1,100,611
4,651,955
8,906,680
9,854,278
105
CONTINGENCY
1,457,728
(0)
1 ,457,728
1,457,270
889,470
107
FIRE EQUIP. CUM, RESERVE
949,888
949,888
884,605
803,981
109
DRUG SEIZURE FUND
229,711
0
229,711
(4,554)
316,024
Special Revenue Total
7,467,077
1,100,610
8,567,688
12,475,821
13,117,313
Debt Service
207
LIMITED TAX G.O. BONDS 1999
13,248
3
208
LIMITED TAX G.O. BONDS 2000
70
70
70
70
209
LIMITED TAX G.0 BONDS 2003
1,179,139
2,000,000
3,179,139
153
210
LIMITED TAX G.O. REFUNDING 2003
1,156
1,156
1,457
211
LIMITED TAX G.O. REFUNDING 2008
5,406
5,406
13,345
212
LTGO SCORE BONDS
707
707
213
LTGO SCORE BLD AMER BONDS
616
616
214
LTGO 2010 Series A
37
37
37
215
LTGO 2010 Series B
5,264
5,264
17
216
VALLEY COM Refunding bonds 2010
14,014
14,014
814
814
Debt Service Total
1,206,408
2,000,000
3,206,408
14,132
15,896
Capital Project
301
LAND ACQ, REC PARK DEVLPMNT
1,765,812
21,043
1,786,855
4,845,418
4,771,625
302
FACILITY REPLACEMENT
2,027,395
2,027,395
2,044,018
2,058,699
303
GENERAL GOVERNMNT IMPROVEMENTS
578,814
578,814
742,794
1,470,395
304
FIRE IMPACT FEES
313,819
313,819
168,919
156,018
Capital Project Total
4,685,839
21,043
4,706,882
7,801,149
8,456,737
Enterprise
400
UTILITY ON ACCT (overpayments)
12,522
12,522
13,664
13,700
401
WATER
1,219,631
3,450,000
4,669,631
4,377,038
5,780,823
402
SEWER
1,062,434
0
1,062,435
1,209,792
1,769,275
411
FOSTER GOLF COURSE
35.294
35,294
(169,408)
21,640
412
SURFACE WATER
2,238,277
0
2,238,277
2,575,702
2,276,123
Enterprise Total
4,568,157
3,450,001
8,018,158
8,006,789
9,861,561
Internal Service
501
EQUIPMENT RENTAL
2,062,274
1,688.356
3,750,630
3.803,723
3,852,557
502
INSURANCE
1,132,739
5,011,377
6,144,117
6,048,103
5760,412
503
INSURANCE- LEOFF1
1,822,186
0
1,822,186
1,725,536
1,657,049
Internal Service Total
5,017,199
6,699,734
11,716,933
11,577,363
11,270
Fiduciary
611
FIREMEN'S PENSION
1,422,057
1,422,057
1,477,965
1,429,822
630
METROPOLITAN PARK DISTRICT
73,913
73.913
640
AGENCY FUND
9,224
11.1
9,224
124,837
7,744
Fiduciary Total
1,505,194
1,505,194
1,602,802
1,437,566
Grand Total
27,369,931
$13,271,388
$40,641,319
48,668,590
46,931,967
35
CITY OF TUKWILA
Treasury Rates and Yield Curves
CASH INVESTMENT REPORT
December 31, 2011
Yield Curve at
December 31, 2011
Yield Curve at
June 30, 2011
5
4.5
4
3.5
3
2.5
2
1.5
1
O5
0'
5
4.5
4
3.5
3
2.5
2
15
1
0.5
0
�O
A'l-
36