Finance Committee

City Hall Meeting Minutes 601 4th Avenue E Olympia, WA 98501 Finance Committee Information: 360.753.8244 Wednesday, August 30, 2023 5:30 PM Online and Via Phone Register to Attend: https://us02web.zoom.us/webinar/register/WN_ejqitF4NS4S0Qhnp5DD_dw 1. CALL TO ORDER The meeting was called to order at 5:30 p.m. 2. ROLL CALL Present: 2 - Chair Lisa Parshley and Committee member Dani Madrone Excused: 1 - Committee member Jim Cooper 3. APPROVAL OF AGENDA Item 6.B was moved before Item 6.A The agenda was approved as amended. 4. PUBLIC COMMENT - None 5. APPROVAL OF MINUTES 5.A 23-0751 Approval of July 19, 2023 Finance Committee Meeting Minutes The minutes were approved. 6. COMMITTEE BUSINESS 6.A 23-0736 Workers Compensation Discussion Finance Director Aaron BeMiller explained the process and costs of moving to the State Worker’s Compensation pool versus remaining self-insured. The Committee requested that staff provide more information when this item goes before Council. The discussion was completed. 6.B 23-0749 Consideration of Petition to Form a Downtown Improvement District Economic Development Director Mike Reid and Olympia Downtown Alliance Executive Director Todd Cutts explained that downtown property owners are exploring the notion of City of Olympia Page 1 Finance Committee Meeting Minutes August 30, 2023 a Downtown Improvement District (DID), which would be a property-owner based assessment in downtown Olympia. The Olympia Downtown Alliance (ODA) is helping to facilitate this process. Should the DID pass, public sector entities would not be obliged to pay an assessment; however may opt into the district. The Alliance estimates the cost to the City of Olympia of opting in would be $33,353 annually. This is based on the assessed value and linear footage of each City-owned property within the DID boundary. Committee member Madrone moved, seconded by Chair Parshley, to forward to the full City Council a recommendation to authorize the City Manager to sign the petition to form a Downtown Improvement District on behalf of the City. The motion carried by the following vote: Aye: 2 - Chair Parshley and Committee member Madrone Excused: 1 - Committee member Cooper 7. REPORTS AND UPDATES - None 8. ADJOURNMENT The meeting was adjourned at 7:08 p.m. City of Olympia Page 2