Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8447 Wednesday, March 11, 2015 5:00 PM Room 207 1. ROLL CALL Committee member Jones was out of town but participated in the meeting by phone. 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 6:02 p.m. 3. APPROVAL OF MINUTES 3.A 15-0258 Approval of February 27, 2015 Finance Committee Meeting Minutes The minutes were approved. 4. COMMITTEE BUSINESS 4.A 15-0250 Discussion of Long-Term Funding Options Administrative Services Director Jane Kirkemo referred to the staff report and presented options for long-term funding that include a levy lid lift, an excess levy, and establishment of a recreation district. She reviewed financial outcomes of each option and discussed voter-approval ratios required for each option. She noted the only other option available aside from long-term funding is cutting expenditures. Chair Cooper expressed interest in taking two different ballot measures to voters -- one for transportation, and one for parks and the waterfront. For transportation we need to wait and see if the legislature expands the Transportation Benefit District councilmanic authority. He is interested in using a combination of long-term funding options for parks and the waterfront. For example, create a Metropolitan Parks District (MPD) that can use funds toward operations and maintenace of our parks, and use an excess levy to pay for repairs and replacement of Percival Landing. Committee Member Jones is interested in combining a levy lid lift with an MPD. Chair Cooper said he wants to invite all the advisory committee chairs to give feedback at the Finance Committee meeting in April. Chair Cooper agrees with Ms. Kirkemo and stated that without a new source of revenue, cuts will have to be made. Committee Member Selby suggested placing the MPD issue on the ballot this year, City of Olympia Page 1 Finance Committee Meeting Minutes March 11, 2015 allowing it to be used for operations and maintenance, but wait until 2016 to try for a levy lid lift or excess levy for Percival Landing. This would allow more time for the Downtown Plan to come together and give a better idea of what the financial need will be. Committee Member Jones asked staff to provide more information on funding gap ranges and what they mean. He also wants a breakdown of Percival Landing expenses and summary of everything discussed on long-term funding so far. Committee Member Selby recommended we make sure citizens understand the shoreline protection aspect of Percival Landing replacement. The discussion was completed. 5. ADJOURNMENT Chair Cooper adjourned the meeting at 6:15 p.m. City of Olympia Page 2