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HomeMy WebLinkAbout01-06-2016 Regular MeetingPUBLIC FACILITIES DISTRICT BOARD January 6, 2016 MINUTES Call To Order: The meeting was called to order at 4:02 p.m., by PFD President Morrissette, in Conference Room #1 at Pasco City Hall. Roll Call: Board Members Present: Craig Maloney, Spence Jilek, Mark Morrissette, Leonard Dietrich and Caroline Bowdish. Also Present: Mayor Matt Watkins, Stan Strebel, Deputy City Manager, Lee Kerr, Attorney and Rick Terway, Director Administrative and Community Services. Visitor: Mr. Felix Vargas Approval of Minutes: It was motioned by Mr. Dietrich, seconded by Dr. Jilek, and carried to approve the minutes of the October 21, 2015 Regular Meeting. Claims Approval: Mr. Strebel presented fourth quarter Claims History. Following discussion, it was motioned by Dr. Jilek seconded by Mr. Maloney and carried to approve payment of fourth quarter claims in the total amount of $114,147.96. Financial Report: Mr. Strebel presented the fourth quarter Operating Statement reflecting Total Sources of Funds $389,465.00 and Total Uses of Funds $384,784.00. The fourth quarter Net Assets Statement was also presented reflecting an actual Net Asset balance of $53,992.22. Following discussion, the Financial Report was accepted as presented. Old Business: None New Business: Proposed 2016 Budget Mr. Strebel presented the proposed 2016 Budget It was motioned by Ms. Bowdish, seconded by Mr. Maloney, and carried to approve the 2016 Pasco Public Facilities Budget as presented. PUBLIC FACILITIES DISTRICT BOARD Minutes — January 6, 2016 Page - 1 Other Business Discussion with Matt Watkins, City Council representative to Regional PFD Mayor Watkins acknowledged the Board Members for their enthusiasm for embarking on a new project and stated "Is the time right for talk of a Regional PFD project; no affirmative answer at this time". Discussion followed regarding the activities of Kennewick PFD, Richland PFD and Pasco PFD. Mr. Strebel provided an overview of the financing limits for public facilities districts and referred to RCWs regarding General Obligation Bonds and Revenue Bonds for PFDs. The limit for GO bonds is % of one percent of assessed value, meaning that the Pasco PFD could borrow up to about $20m for a project, even though the projected sales tax revenue stream (at .02%) would support debt service for about $28m. Stan also presented for discussion rough budget summaries prepared by Barker Rinker Seacat Architecture for alternate sizes of aquatic/recreation facilities. Mr. Strebel asked the Board Members: How would you like to proceed? President Morrissette recognized Mr. Vargas and invited comment: Mr. Vargas, shared this is an educational opportunity for the PFD to share with the public and there is great community support. President Morrissette recognized Mr. Terway and invited comment: Mr. Terway, shared an aquatic center including a variety of activities would be beneficial to the effort. Mayor Watkins asked the Board Members for a consensus on how best to proceed in sharing the Pasco PFD direction with Regional PFD members. Mr. Strebel shared, if the Board Members would like to pursue a more detailed analysis then we can return to the consultant for a more specific aquatic center value and acreage need. General consensus have Mr. Strebel request the consultant develop a pro -forma with rough area of magnitude price ranges for an aquatic/recreation center (within the $20m limit). President Morrissett stated a Special Meeting will be called in February — details to follow. Adjournment: There being no other business, President Morrisse a o ed the ting 5• p.m. ZLA4� Mdrk Morrissette, President ebra L. Clark, PFD Secretary PUBLIC FACILITIES DISTRICT BOARD Minutes — January 6, 2016 Page - 2