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HomeMy WebLinkAbout032612 Special MeetingPUBLIC FACILITIES DISTRICT BOARD SPECIAL MEETING March 26, 2012 MINUTES CaL To Ord¢r_ The meeting w called to order at 4:OOp.m., by PFD President Bob Tippett, in ConF ence Itoom #1 at Pasco City Hall_ Bo" Cart Board Members Present Bob Tippett, Spence JileR, John Merle, and Leonard Dietrich (via telecom£ cej. Excused Absence: Mark Moarissette Also Preseat Gary Crutch5eld, PFD Chie {Administrative 01 -ricer and Stag Strebel, Deputy City Manager and Reb¢cca Francilc, Councilmemb¢r_ Visitor: Randy Willis, Tri City Covert Club Buslaeas- AuuaHca C¢at¢r Mr. CrutchAeld introduced an ail re vved from Commissioner Peck dated March 23, 2012 containing a "draft" communication regarding TRAC's Fscal per{ormancc (Exhibit 1 - coPY attached). Mr. Strebel provided a brief recap regarding the Ballard•ISing 8c Associates Tri Cities Aquatic Center Operations Pro -Forma Review and the need to provide a target budget. Following discussion it w motioned by Dr. JileK s oxtded by Mr. Merle and carried to authorize the Pasco Publics Facilities District Board to provide a letter to the Board of the Regional PFD expressing the Pasco PFD desire to become proponent of the Regional Aquatic Center at the TRAC location (and submitting the MarKet Analysis, Concepr/Sae Plan and Cost Estimates plus the (to be c mpletedj Pro -Forma at Ste 4/11 meeting of the APFDj and to ask Ballard King to complete the project study with a target construction budget of $35,000,000.00. Adjouram¢atc There being no other business, President Tippett adjonurned the meetin/g Ciao,_ 1:�5a p.m_ Bobappett, Presaydent �� D b CI K S vt- FACILITIES D1S"I'R1CT BOARD Minute —March 26, 2012 s PagC - 1 Follow up Flag= Follow up Flag gtatus: Flagged Gary —will something along these lines be adequate? Thx, Brad Dear Mr. Crutchfield, Our board understands She Pasco PF0 or the Trl Cities Regional PFD may have interest in acquiring all Or portions of the county's TRAC facility. As we have discussed, public convention facilities rarely generate enough revenue to cover costs. Financial losses are often offset by the economic vitality they bring to a who In -turn pay local taxes^Desplte excellent m nag¢m¢ni, TRAC's annual losses will exceed $400,000 this year. Despite the potential economic benefits tonearby businesses, those losses are a significant financial burden to Franklin Coumy, even with Pasco covering half those costs. The county is unlikely to cover the full amount of those losses should the city end Its TRAC subsidy In 2014 as expected. Absent a significant turnaround in TRAC's BSCal performance, Our hope is that a ncmm mission can be developed for TRAC that will serve our citizens in a fiscally acceptable manner. If neither Of those options materialize it may become necessary for us to sell the facility to recoup some measure of our Investment- Therefore we are Open to any proposals or recommendations the city may have for achieving the highest and best use of Our TRAC facilities and related property. Of course the terms and conditions of any Ownership transfer and reuse plans would require careful revlew and approval of our Board. Z Thank you for inquiry. 1 look forward to further discussions on this topic. DRAFT Gary Cruio�tfield 3 - aCo- f From: Brad Pack cbpecK(�co.fran Klin.wa.us�. Sent: Friday, March 23, 2012 4:34 PM To= Gary Crutchfield aubjact: FW: TRAC Follow up Flag= Follow up Flag gtatus: Flagged Gary —will something along these lines be adequate? Thx, Brad Dear Mr. Crutchfield, Our board understands She Pasco PF0 or the Trl Cities Regional PFD may have interest in acquiring all Or portions of the county's TRAC facility. As we have discussed, public convention facilities rarely generate enough revenue to cover costs. Financial losses are often offset by the economic vitality they bring to a who In -turn pay local taxes^Desplte excellent m nag¢m¢ni, TRAC's annual losses will exceed $400,000 this year. Despite the potential economic benefits tonearby businesses, those losses are a significant financial burden to Franklin Coumy, even with Pasco covering half those costs. The county is unlikely to cover the full amount of those losses should the city end Its TRAC subsidy In 2014 as expected. Absent a significant turnaround in TRAC's BSCal performance, Our hope is that a ncmm mission can be developed for TRAC that will serve our citizens in a fiscally acceptable manner. If neither Of those options materialize it may become necessary for us to sell the facility to recoup some measure of our Investment- Therefore we are Open to any proposals or recommendations the city may have for achieving the highest and best use of Our TRAC facilities and related property. Of course the terms and conditions of any Ownership transfer and reuse plans would require careful revlew and approval of our Board. Z Thank you for inquiry. 1 look forward to further discussions on this topic. DRAFT