HomeMy WebLinkAbout2019.08.20 PPFD MinutesPASCO 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
LEONARD DIETRICH
MARIE GILLESPIE
SPENCE JILEK
MARK MORRISSETTE
COUNCIL & STAFF
ZACH RATKAI
DAVID MILNE
CRAIG MALONEY
ERIC FERGUSON
DAVE ZABELL
ANGELA PASHON
GUESTS
MICHAEL MORALES
RICH NELSON
DARLENE NELSON
CARL CADWELL
FRED LAMOTHE
SONNIA KING
JOESPH
MORRISSETTE
KIMSHUGART
AMANDA JONES
ANNE RETTIG
CLAUDE OLIVER
Board Member
Present
Board Member
Board Member
Present
Board Member
Present
Board Member - Chair
Present
Admin. & Com. Services
Present
Director
City Council Liaison
Present
City Council Liaison
Present
City Attorney
Present
City Manager
Present
City Clerk
Present
City of Pasco
Life Quest
Life Quest
Life Quest
Life Quest
Life Quest
Guest
Visit Tri -Cities
Private Citizen of Tri -Cities
Life Quest
Tri -Cities Realty
PUBLIC FACILITIES DISTRICT BOARD
Meeting Minutes — August 20, 2019
Page - 1
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 Jones 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. Jones 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 - 2
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
Claude 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.
Mk Morrissu l e, President
PUBLIC FACILITIES DISTRICT BOARD
Meeting Minutes — August 20, 2019
Page - 3