Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8447 Wednesday, December 10, 2014 5:00 PM Room 207 1. ROLL CALL Present: 3 - Chair Jim Cooper, Committee Member Nathaniel Jones and Committee Member Cheryl Selby 2. CALL TO ORDER Chair Cooper called the meeting to order at 5:00 p.m. 3. APPROVAL OF MINUTES 3.A 14-1207 Approval of November 19, 2014 Finance Committee Meeting Minutes The minutes were approved. 4. COMMITTEE BUSINESS 4.A 14-1216 2014 Percival Landing Condition Assessment Report Parks, Arts and Recreation Project Manager Kip Summers presented the 2014 Percival Landing Condition Assessment Report. The assessment was completed between July 15 and July 29. In 2004 the City performed a comprehensive condition assessment of the boardwalk. Since then, yearly walkthrough assessments and five-year comprehensive condition assessments are made. The last comprehensive assessment was performed in 2009. Four classifications of repair are required to maintain the boardwalk. The costs below include repair costs, contingencies, engineering, permitting, construction support and state sales tax but no administrative costs. The cost is to maintain the boardwalk in its current design state. · Immediate staff repairs $39,540 · Immediate contractor repairs 277,920 · New sheet pile bulkhead 2,390,400 · Three to five year repairs 676,143 · D & E Float replacement 3,505,672 Next Steps include: · Allocate funding of $350,000 and complete immediate repairs for both City staff and contractor repairs. (This amount is not currently funded.) · Develop funding package for full replacement of Section A Phase II based on: City of Olympia Page 1 Finance Committee Meeting Minutes December 10, 2014 o Updated Percival Landing cost estimates. o Coordination with sea level rise. o Isthmus redevelopment plan. o Partner with transportation and utility sections. · Identify funding solution for long term maintenance. The full Council will receive a presentation on the report in January, 2015. The report was received. 4.B 14-1224 ORAL REPORT - Updates The Washington Center for the Performing Arts (WCPA) Board gave a brief status update. The WCPA just received its audit, which the Board offered to make available to anyone interested. The Committee was encouraged to attend the New Year’s Eve Gala. The Board reported ticket sales have been slow. However, the Clint Black concert tickets are doing very well. They also told the Committee they have expanded their Board to include 22 members. The Committee asked Assistant City Manager Jay Burney if he had a status report on the property used to support the Washington Center endowment. Mr. Burney said the City is still working with the State Department of Ecology to classify the land. There are at least two developers interested in the site, depending on the classification. The report was received. 5. ADJOURNMENT The meeting adjourned at 6:00 p.m. City of Olympia Page 2