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HomeMy WebLinkAbout2019.09.17 PPFD Agenda Packet Documents will be provided with Agenda Pasco Public Facilities District Board Building Regional Facilities through Community Partnerships AGENDA Tuesday, September 17, 2019 4:00 p.m. Pasco City Hall – Council Chambers I.Call to order and roll call II.Recognition of Visitors/Public Comments III.Approval of Minutes: August 20, 2019 IV.Claims Approval: N/A V.Financial Report: N/A VI.Reports from Committees: Kennewick Convention Center Advisory Board Report on Regional PFD VII.Old Business: VIII.New Business: Site Assessment Scope Change October 2019 Workshop Dates with Ballard-King IX.Other Business: Report from Staff X.Adjournment PUBLIC FACILITIES DISTRICT BOARD Meeting Minutes – August 20, 2019 Page - 1 PASCO PUBLIC FACILITIES DISTRICT BOARD AUGUST 20, 2019 MEETING MINUTES Call to Order: The meeting was called to order at 4:08 p.m., by PPFD President Morrissette, in City Council Chambers at Pasco City Hall. Roll Call: BOARD MEMBERS CAROLINE BOWDISH Board Member Present LEONARD DIETRICH Board Member MARIE GILLESPIE Board Member Present SPENCE JILEK Board Member Present MARK MORRISSETTE Board Member - Chair Present COUNCIL & STAFF ZACH RATKAI Admin. & Com. Services Director Present DAVID MILNE City Council Liaison Present CRAIG MALONEY City Council Liaison Present ERIC FERGUSON City Attorney Present DAVE ZABELL City Manager Present ANGELA PASHON City Clerk Present GUESTS MICHAEL MORALES City of Pasco RICH NELSON Life Quest DARLENE NELSON Life Quest CARL CADWELL Life Quest FRED LAMOTHE Life Quest SONNIA KING Life Quest JOESPH MORRISSETTE Guest KIM SHUGART Visit Tri-Cities AMANDA JONES Private Citizen of Tri-Cities ANNE RETTIG Life Quest CLAUDE OLIVER Tri-Cities Realty PUBLIC FACILITIES DISTRICT BOARD Meeting Minutes – August 20, 2019 Page - 2 Approval of Minutes: It was motioned by Mr. Jilek, seconded by Ms. Bowdish, and carried to approve the minutes of the July 16, 2019 Meeting. Claims Approval: N/A Financial Report: N/A Reports: Mr. Morrissette reviewed items the Board sought presentations on: 1.Public Disclosure Act – presentation provided by Kerr-Ferguson Law at July 16, 2019, meeting. 2.Financial feasibility of facility by banking industry – presentation by Amanda Jones at this meeting. 3.Public-Private Partnerships – TBD Old Business/New Business/Other Business: 1.Presentation – Finance Private Development Ms. Amanda Jordan presented how a conventional bank would look to finance a waterpark facility with the assumption it could not be converted to another use. For a new operation, cash flow and revenue would not be demonstrated and comparable facilities would be reviewed, a revenue stream mix and expenses would be determined. The ownership structure and outside funds (liquid cash) reviewed as well as profitability. An aquatics facility would be considered a special use loan, typically assigned a 65% max-loan to value. Special use loan can require collateral and assets may require liquidation in addition to contingencies. Loan likely to require venture capital or owner supplied funding. Mr. Mahoney indicated it would be a heavy lift to seek commercial/private sector investor to finance project. Mr. Morrissette inquired about non-traditional sources for financing. Ms. Jordan indicated there may be some opportunity with small business associations and governmental grants but that she could not advise on those options. 2.Election Timeline Draft Mr. Ratkai provided a draft election outline. PUBLIC FACILITIES DISTRICT BOARD Meeting Minutes – August 20, 2019 Page - 3 3. Aquatic Center Amenities Review Mr. Ratkai stated staff is working with Ballard-King. At a future meeting, Ballard-King will present to the Board. 4. Update of Revised Aquatic Feasibility Study Mr. Zabell provided history of the 2016 Ballard-King study. The study showed several scenarios and included desired amenities. The study is not meant to be a direct competition with private facilities. 5. Legal Updates Mr. Ferguson had no updates for the Board. Executive Session Started at 4:36 p.m. for the purpose of discussing real estate matters and returned at 4:56 p.m. Visitors/Public Comment Claud Oliver provided the Board a handout on “Children’s Village.” Carl Cadwell stated he assisted with the Centralia aquatics center, a city-private-school district partnership. Adjournment: There being no other business, the meeting was adjourned at 5:17 p.m. ________________________________ ________________________________ Mark Morrissette, President Angela Pashon, PFD Secretary