04-02-2024 Council Packet - RegularCITY OF
�. Fe deral Way
Centered on Opportunity
CITY COUNCIL
REGULAR MEETING AGENDA
**AMENDED AGENDA**
City Hall - Council Chambers*
April 2, 2024 - 6:30 p.m.
CALL MEETING TO ORDER
2. PLEDGE OF ALLEGIANCE
3. CEREMONIES & RECOGNITION
a. Proclamation: Financial Literacy Month — April 2024
b. Proclamation: Sexual Assault Awareness Month — April 2024
c. Certificate of Recognition: Jace Johnson as Young Malcom in X.- The Life and Times
of Malrnm X
4. MAYOR'S EMERGING ISSUES AND REPORT
• Airport Expansion Master Plan Public Process Update — Bill Vadino, Policy Advisor
• Recent Events: Korean Quarterly Meeting (3/21); Diaper Drive at Twin Lakes Fred
Meyer (3/23); Young Life Camp Fundraiser (3/23); Lions 70 Years of Service (3/23);
Highline Forum (3/27), St. Francis Hospital New Family Birth Center Grand Opening
(3/28)
• Upcoming Events: Federal Way Little League Jamboree (4/20); Parks Appreciation
Day (4/20)
5. PUBLIC COMMENT
RULES: In accordance with State Law, the City of Federal Way prohibits any testimony regarding any
campaign for election or promotion of, or opposition to, any ballot proposition during the public comment.
Council Rules prohibit any personal, impertinent, threatening or slanderous remarks, and no speaker may
convey or donate their time for speaking to another speaker. All individual comments are limited to 3 minutes
each.
The City Council may amend this agenda and take action on items not currently listed. Regular Meetings are recorded and
televised on Government Access Channel 21 and viewable on FW YouTube. For more information, or to view agenda materials
and access public comment sign-up options, please visit www.citvoffederalway.com. To request accommodations or assisted
listening devices, please contact the City Clerk prior to the meeting.
*Remote attendance available via Zoom meeting code: 363 503 282 and passcode: 738163; or
https://cityoffederalway.zoom.us/j/363503282?pwd=VmlocGOrd FVyTURaQnIL)RUIQOTQ4ZzO9
The Mayor may interrupt any speaker whose comments continue too long, relate negatively to others,
disparage people based on race, national origin, gender, sexual orientation or other protected status, or are
otherwise unconducive to a civil meeting. The Mayor has the authority to preserve order at all meetings of the
Council, and to cause the removal of any person from any meeting for disorderly conduct.
6. COUNCIL COMMITTEE AND REGIONAL COMMITTEE REPORTS
• Parks/Recreation/Human Services/Public Safety Committee (PRHSPS)
• Land Use/Transportation Committee (LUTC)
• Finance, Economic Development Regional Affairs Committee (FEDRAC)
• Lodging Tax Advisory Committee (LTAC)
• Regional Committees Report
• Council President Report
7. CONSENT AGENDA
Items listed below have been previously reviewed in their entirety by a Council Committee of three members
and brought before full Council for approval; all items are enacted by one motion. Individual items may be
removed by a Councilmember for separate discussion and subsequent motion.
a. Minutes: March 19, 2024 Special and Regular Meetings
b. Monthly Financial Report — February 2024
c. AP Vouchers for 02/17/2024 thru 03/15/2024 and Payroll Vouchers 02/01/2024
thru 02/29/2024
d. Washington State Criminal Justice Training Commission Teacher Administrator
Coach Officer Interagency Agreement
8. PUBLIC HEARING
a. Ordinance: Town Center 3 (TC-3) Development Agreement
• Presentation: Keith Niven, Community Development Director
• Public Comment — 3 minutes each
Action on this ordinance will occur later in the agenda
9. COUNCIL BUSINESS
a. ADDED ITEM: Youth Commission Appointments
b. ADDED ITEM: North Lake Management District Advisory Committee Appointments
c. ADDED ITEM: Historic Landmarks Commission Appointment
The City Council may amend this agenda and take action on items not currently listed. Regular Meetings are recorded and
televised on Government Access Channel 21 and viewable on FW YouTube. For more information, or to view agenda materials
and access public comment sign-up options, please visit www.citvoffederalway.com. To request accommodations or assisted
listening devices, please contact the City Clerk prior to the meeting.
*Remote attendance available via Zoom meeting code: 363 503 282 and passcode: 738163; or
https://cityoffederalway.zoom.us/j/363503282?pwd=VmlocGOrd FVyTURaQnIL)RUIQOTQ4Zz09
10. ORDINANCE
First Reading
a. Council Bill #876/Authorizing the Execution of the Town Center 3 (TC-3) Development
Agreement
AN ORDINANCE OF THE CITY OF FEDERAL WAY, WASHINGTON, RELATING TO
ENTERING INTO A DEVELOPMENT AGREEMENT WITH TRENT DEVELOPMENT INC. FOR
THE TC-3 PROPERTIES PURSUANT TO THE PROVISIONS OF CHAPTER 19.85 FEDERAL
WAY REVISED CODE.
Public Comment — 3 minutes each
b. Council Bill #877/Tax Increment Financing
AN ORDINANCE OF THE CITY OF FEDERAL WAY, WASHINGTON, DESIGNATING THE
DOWNTOWN TAX INCREMENT AREA; SETTING A SUNSET DATE FOR THE INCREMENT
AREA; IDENTIFYING THE PUBLIC IMPROVEMENTS TO BE FINANCED; IMPOSING A
DEADLINE FOR COMMENCEMENT OF CONSTRUCTION; INDICATING THE CITY'S INTENT
TO ISSUE BONDS TO FINANCE PUBLIC PROJECTS; PROVIDING THAT THE INCREMENT
AREA WILL TAKE EFFECT JUNE 1, 2024; AND PROVIDING FOR RELATED MATTERS.
Presentation: Keith Niven, Community Development Director
Public Comment — 3 minutes each
11. COUNCIL REPORTS
12. EXECUTIVE SESSION
• Property Acquisition Pursuant to RCW 42.30.110(1)(b)
13. ADJOURNMENT
The City Council may amend this agenda and take action on items not currently listed. Regular Meetings are recorded and
televised on Government Access Channel 21 and viewable on FW YouTube. For more information, or to view agenda materials
and access public comment sign-up options, please visit www.citvoffederalway.com. To request accommodations or assisted
listening devices, please contact the City Clerk prior to the meeting.
*Remote attendance available via Zoom meeting code: 363 503 282 and passcode: 738163; or
https://cityoffederalway.zoom.us/j/363503282?pwd=VmlocGOrd FVyTURaQnIL)RUIQOTQ4Zz09
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Federal Way
PROCLAMATION
"Financial Literacy & Capability Month"
WHEREAS, the month of April is National Financial Literacy & Capability Month,
dedicated to bringing financial literacy services to ensure that all Americans have access
to trustworthy financial services; and
WHEREAS, financial literacy education can help citizens become more knowledgeable
about finances including savings and credit development, and build skills and strategies
to personal finance management; and
WHEREAS, the City of Federal Way encourages public and private institutions,
regional agencies, and community organizations to provide instruction, activities, and
initiatives that contribute to developing and enhancing financial literacy knowledge and
skills to ensure economic success; and
WHEREAS, the designation of Financial Literacy & Capability Month helps raise public
awareness about the importance of financial education; and
WHEREAS, the 2024 Financial Literacy & Capability Month theme is Inform, Inspire &
Ignite; and
NOW, THEREFORE, we the undersigned Mayor and City Councilmembers of the City
of Federal Way, do hereby proclaim April 2024 as FINANCIAL LITERACY &
CAPABILITY MONTH, and call upon the citizens of Federal Way to take steps to fuel
their financial prosperity.
SIGNED, this 2nd day of April, 2024.
FEDERAL WAYMA YOR AND CITY COUNCIL
Jim Ferrell, Mayor
L Assefa-Qawso Cob cilmember
Susan Handa, Councilmember
r
Jack Walsh, Councilmember
Komi C'96cil Presiient
Paul cDaniet, i member
_ Hoang . Tran„ Councilmember
Jatk Dove Councilmember
CITY OF
zk Federal Way
PROCLAMATION
"Sexual Assault Awareness Month"
WHEREAS, every 68 seconds, someone is sexually assaulted in the United States,
displaying a pervasive problem in our Nation; and
WHEREAS, black, indigenous and other people of color, people living in poverty,
LGBTQ+ people, elders, people with disabilities, and others who have been historically
oppressed are disproportionately affected by sexual violence in significant and complex
ways; and
WHEREAS, sexual assault is among the most underreported crimes for many reasons,
but survivors who are already most marginalized face additional barriers to reporting,
such as language, immigration status or disability; and
WHEREAS, ending sexual violence requires us to address racism, sexism, and all forms
of oppression that contribute to the perpetration of sexual assault; and
WHEREAS, by working together as a community, we can alleviate the trauma of sexual
violence by ensuring supporting resources are available to all survivors, while standing
up to and actively disrupting harmful attitudes and behaviors that contribute to sexual
violence.
NOW, THEREFORE, we the undersigned Mayor and City Councilmembers of the City
of Federal Way, do hereby proclaim April 2024 as SEXUAL ASSAULT AWARENESS
MONTH, and join with advocates to prevent sexual violence by standing with survivors.
SIGNED, this 2nd day of April, 2024.
FEDERAL WA YMAYOR AND CITY COUNCIL
JirrFerrell, Mayor
Lydia s efa-Dawson, C977bi-
Susan Honda, Councilmember
Jack Walsh, Councilmember
Lin chmar, Cou al Pre§ident
Paul Mca niel. CouncilmerrLber
4 s 1 a n 1■►►►r.
COUNCIL MEETING DATE: April 2, 2024 ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
SUBJECT: CITY COUNCIL MEETING MINUTES
POLICY QUESTION: Should the City Council approve the draft minutes for the March 19, 2024 Regular and
Special Meetings?
COMMITTEE: N/A MEETING DATE: N/A
CATEGORY:
® Consent ❑ Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Jennifer Marshall, Deputy City Clerk DEPT: City Clerk
Attachments:
March 19, 2024 Regular Meeting Draft Minutes
March 19, 2024 Special Meeting Draft Minutes
Options Considered:
1. Approve the minutes as presented.
2. Amend the minutes as necessary.
MAYOR'S RECOMMENDATION: N/A
MAYOR APPROVAL: N/A
Committee
Initial/Date
COMMITTEE RECOMMENDATION: N/A
N/A DIRECTOR APPROVAL:
Council
Initial/Date
Initial/Date
N/A N/A N/A
Committee Chair Committee Member Committee Member
PROPOSED COUNCIL MOTION: "I move approval of the minutes as presented. "
BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE
COUNCIL ACTION:
❑ APPROVED COUNCIL BILL #
❑ DENIED First reading
❑ TABLED/DEFERRED/NO ACTION Enactment reading
❑ MOVED TO SECOND READING (ordinances only) ORDINANCE #
REVISED - 4/2019 RESOLUTION #
4% CITY OF
�. Federal Way
Centered on Opportunity
CITY COUNCIL
REGULAR MEETING MINUTES
City Hall — Council Chambers
March 19, 2024 — 6:30 p.m.
1. CALL MEETING TO ORDER
Mayor Ferrell called the meeting to order at 6:30 p.m.
City officials in attendance: Mayor Jim Ferrell, Council President Linda Kochmar,
Councilmember Lydia Assefa-Dawson, Councilmember Paul McDaniel, Councilmember
Susan Honda, Councilmember Hoang Tran, Councilmember Jack Walsh, and
Councilmember Jack Dovey.
City staff in attendance: City Administrator Brian Davis, Assistant City Attorney Kent van
Alstyne, and Deputy City Clerk Jennifer Marshall.
2. PLEDGE OF ALLEGIANCE
Mayor Ferrell led the flag salute.
3. CEREMONIES & RECOGNITION
a. Swearing -In of new Police Officers
Chief Andy Hwang introduced the five most recently hired police officers and Mayor
Ferrell administered the oaths of office to Officers Justin McKee, Ella Schlegel, Tiffany
Parke, Victor Rodriguez, and Allamalealof (Ala) Tulenkun.
b. Presentation of the Representative Roger Freeman Award to Rosemond Pratt
Diversity Commission Chair Saudia Abdullah overviewed the origin of the award and
applauded Rosemond Pratt for her stellar essay. Mayor Ferrell and Council
congratulated Ms. Pratt.
e. PrGda atiGR, FinaR„ial LiteFaG Menth nn. Frh 2024 —postponed to April 2
4. MAYOR'S EMERGING ISSUES AND REPORT
Mayor Ferrell reported on the NLC Congressional City Conference in Washington D.C. and
Federal Lobbying Efforts by himself and Council March 12 through 15. They were able to meet
with Congressman Smith and discuss city priorities.
Federal Way City Council Regular Minutes Page 1 of 7
March 19, 2024
Mayor Ferrell reported on the well -attended Neighborhood Connection Meeting at Olympic
View Elementary held March 7 noting a video from the meeting is available online. He also
attended the St. Patrick's Day Flag Raising and Communities in Schools Breakfast on March
15.
Mayor Ferrell announced the upcoming Korean Quarterly Meeting on March 21; the March of
Diapers Diaper Drive at Twin Lakes Fred Meyer on March 23, and the Lions 70 Years of Service
Banquet on March.
Mayor Ferrell acknowledged Representative Reeves who was in attendance.
Health through Housing Update
Kelly Rider, King County Interim Director of the Department of Community and Human
Services introduced her team from King County as well as the individuals from Urban
League who have been selected to run the facility. She spoke to their desire to work with
the community while implementing this process to provide real and measurable change for
those experiencing long-term homelessness.
Mario Williams -Sweet, King County Major Initiative Manager for Health through Housing,
overviewed past efforts to meet with the community and engage. He also outlined the
Permanent Supportive Housing (PSH) License Application submitted to the city which
included an operations plan, resident code of conduct, safety and emergency plan, and
community relations and engagement plan.
Qiana Tyeskey, Director of Housing from Urban League, overviewed the screening
requirements for future residents including having been homeless for over a year and have
mental or behavioral issues with priority given to local clients/residents. While not required,
services and resources will be provided on site to assist these individuals in leaving
homelessness behind.
Council acknowledged residents and individuals in attendance who are opposed on how to
best address homelessness and this current proposal. Council asked questions about the
success rate of Health through Housing in other cities as well as the potential for drug use
at the facility. It was clarified Health through Housing owns the property while it is managed
by Urban League and all there are required to comply with local laws. When questioned, it
was stated the decision as to who is selected for housing is determined through a
collaborative decision -making process by the city, King County, and Urban League.
Council asked if residents will be required to partake in services. Mr. Williams -Sweet replied
while it cannot be mandated, those who are enrolled will have gone through suitability
screening and know they are expected to engage with the wrap around services.
Council thanked the presenters for their time and efforts and requested the chance to review
the Code of Conduct and other documents submitted as a part of their PSH Application.
5. PUBLIC COMMENT
Betty Taylor shared she is struggling emotionally as the court process begins in relation
to her grandson's death and expressed gratitude for the support she feels when attending
meetings with engaged members of the public.
Vivian Alexander spoke in favor of Health through Housing and Urban League as well as
Federal Way City Council Regular Minutes Page 2 of 7
March 19, 2024
her new appreciation for the Housing First model.
Victor Martinez, 17-year resident, spoke against the current proposal indicating drug
rehabilitation must be a requirement for housing if it is going to be successful.
Susan Strong spoke against the King County housing proposal at the Extended Stay
referencing she anticipates the same issues there as seen around the Day Center.
Aaron Walsh spoke in favor of the Health through Housing Program sharing his
experience as a social worker confirming housing is necessary before individuals are able
to focus on healing any traumas or drug issues.
Kevin Morris shared he believes drugs and alcohol are at the center of the homelessness
issue and is concerned it was not discussed by King County or Urban League.
Juan Luis Juarez Ramos stated he could not support the Health through Housing project
as he believes the focus and funding should be first directed towards housing youth.
Mark Frietas spoke in support of the Health through Housing stating there have been
successes in Phoenix and he is eager to see the successes in Federal Way.
Ron Kaler spoke against the Health through Housing project noting the minimal success
rate will not counteract the detrimental impact it will have on the area. He believes drug
treatment must be required in order for success.
Lana Bostic voiced her support for Health through Housing and her hopes for an
emergency shelter to be opened soon.
Ken Blevens expressed concern the presenters did not once speak about addiction or the
impact the housing could have on our emergency responders.
Geoffrey Tancredi shared his experience canvasing the West Campus Neighborhood
stating he had not found any support for the project.
Jacqueline Coply spoke against Health through Housing noting the proximity of the
Extended Stay to Mirror Lake Elementary School.
Jewel Lee shared her experience and opposition to the Health through Housing noting if
it is going to happen she would like to see treatment and 24-hour security required.
Anna Patrick noted her opposition to the Health through Housing project reminding the
councilmembers any individuals removed from the housing due to non-compliance will be
added to the homeless numbers on the streets.
George Houston shared his desire to serve and uplift the homeless and addicted noting
over thirty-five churches had gathered in an effort to build relationships and programs to
assist these individuals in once again becoming part of a community.
Sara Mandeville questioned why mandatory drug treatment was not part of the current
program and questioned Urban League's past success rate.
Melinda Ruiz expressed gratitude for the time she has lived in Federal Way and
announced they will be moving to Arizona; this is the last Council Meeting she will attend.
Federal Way City Council Regular Minutes Page 3 of 7
March 19, 2024
Maiu Qureshi. 15-year resident of the city and 10-year employee of Multi -Service Center
(MSC), shared the successes they have had at the William J Woods Veterans House that
has been operational for eight years.
Vitaliy Pieknvtin expressed gratitude for the city's acceptance of Ukrainian and other
refugees who became homeless because of the war. He started Servants of Compassion
to work with those struggling and in need of spiritual intervention.
Trenise Rogers spoke to the importance of spiritual intervention and leading to change
through love. She spoke with a man from Auburn who reported great results from King
County's Health through Housing.
Stephn McNeal worked in corrections in State of Iowa and shared the struggle he had with
addictions noting faith is what helped him.
Larry_ Nordberg (spoke virtually) raised questions regarding the proposal questioning the
lack of drug testing for those being screened for housing.
Written comments were received from Charlisse Hammon, Anton Ziska, Julia Aulava prior
to the meeting and emailed directly to Mayor and Council prior to the meeting.
Mayor Ferrell invited Ms. Rider from King County to the podium. She used this time to
acknowledge questions and concerns from those in attendance and commit to providing
responses.
Mayor Ferrell announced a five minutes recess at 9:21 p.m.; the meeting reconvened
at 9:27 p.m.
6. COUNCIL COMMITTEE AND REGIONAL COMMITTEE REPORTS
Parks/ Recreation/Human Services/Public Safety Committee (PRHSPS):
Councilmember Walsh shared there was no meeting in March, but a meeting will take
place April 9. He and encouraged participation in the April Parks Appreciation Day events.
Land Use/Transportation Committee (LUTC): Councilmember Dovey shared the next
meeting will be held April 1 at 5:00 p.m.
Finance, Economic Development Regional Affairs Committee (FEDRAC):
Councilmember Tran reported FEDRAC next meeting will be held March 26 at 5:00 p.m.
Lodging Tax Advisory Committee (LTAC): no report provided.
Regional Committees Report: Councilmember Honda reported on various workshops
and classes noting her attendance at the South County Area Transportation Board
(SCATb) Meeting. She announced Metro King County is forming a Mobility Board and
those interested must apply by May 10.
Council President Report: Council President Kochmar shared her experience reading
to a third -grade class and relayed their request the next town hall meeting be held at
Wildwood Elementary.
Federal Way City Council Regular Minutes Page 4 of 7
March 19, 2024
7. CONSENT AGENDA
a. Minutes: March 5, 2024 Special and Regular Meeting
b. S 288th Street Road Diet Phase 2 — 85% Design Report & Bid Authorization
c. Approval to Submit NPDES Annual Report
d. Interlocal Agreement with King County for the Use of the Regional Stormwater
Decant Facility
COUNCIL PRESIDENT KOCHMAR MOVED APPROVAL OF ITEMS (A) THROUGH (D) ON
THE CONSENT AGENDA; SECOND BY COUNCILMEMBER WALSH. The motion passed
unanimously as follows:
Council President Kochmar yes Councilmember Tran yes
CouncilmemberAssefa-Dawson yes Councilmember Walsh yes
Councilmember McDaniel yes Councilmember Dovey yes
Councilmember Honda yes
8. COUNCIL BUSINESS
a. 2024 City Council Goals
City Administrator Brian Davis reviewed the proposed changes to the Council Vision
Statement and Goals as discussed at the March 5, 2024 Special and Regular Meetings.
He noted a fifth goal was proposed by a citizen to include airport concerns which was
added after Council's discussion.
1. Increase sustainable revenue streams to fully fund the city budget, programs
and infrastructure.
2. Address public safety issues for residents and businesses.
3. City government will develop a plan to realize our 2030 vision of becoming a
health care innovation hub. Lead: LUTC
4. Develop a plan to address homelessness, drug addiction, and related issues.
5. Continue to highlight air emissions, noise, safety issues and the upcoming SEA
airport master plan public process for airport expansion. Lead: LUTC
Council supported these five items but requested additional time to discuss the added
airport item before voting to formally add it to their goals.
Councilmembers Assefa-Dawson and Honda shared "drug addiction" may be too
specific and should include alcoholism. Additionally, it was stated mental health should
also be included in goal four.
COUNCILMEMBER ASSEFA DAWSON MOVED TO UPDATE THE WORDING OF COUNCIL
GOAL FOUR TO "ADDRESS HOMELESSNESS, ADDICTION, MENTAL HEALTH, AND
RELATED ISSUES"; SECOND BY COUNCILMEMBER WALSH.
Councilmember Walsh suggested a friendly amendment to reorder the words to have
"addiction" before "homelessness". The maker of the motion and second accepted the
friendly amendment.
Federal Way City Council Regular Minutes Page 5 of 7
March 19, 2024
Motion clarified.-
COUNCILMEMBER ASSEFA DAWSON MOVED TO UPDATE THE WORDING OF COUNCIL
GOAL FOUR TO "ADDRESS ADDICTION, HOMELESSNESS, MENTAL HEALTH, AND
RELATED ISSUES"; SECOND BY COUNCILMEMBER WALSH. The motion passed
unanimously as follows:
Council President Kochmar
yes Councilmember Tran yes
CouncilmemberAssefa-Dawson
yes Councilmember Walsh yes
Councilmember McDaniel
yes Councilmember Dovey yes
Councilmember Honda
yes
Councilmembers discussed an interest to have additional conversations related to the
airport and the affects it has on the community; Marine Hills and beyond. Consensus
indicated the goal return to the Land Use/Transportation Committee (LUTC) for
discussion before returning to the Council.
Mayor Ferrell withdrew his recommendation of the added fifth goal noting while it is an
ongoing concern and the city is committed to it; it can be considered at a different time.
COUNCIL PRESIDENT KOCHMAR MOVED APPROVAL OF THE 2024 COUNCIL VISION
STATEMENT AND GOALS 1 THROUGH 4 AS AMENDED; SECOND BY COUNCILMEMBER
ASSEFA-DAWSON. The motion passed unanimously as follows:
Council President Kochmar
yes Councilmember Tran yes
CouncilmemberAssefa-Dawson
yes Councilmember Walsh yes
Councilmember McDaniel
yes Councilmember Dovey yes
Councilmember Honda
yes
b. 2023 Consolidated Annual Performance and Evaluation Report (CAPER)
Community Services Manager Sarah Bridgeford provided a report on the city's
utilization of the Community Development Block Grant (CDBG) funds in 2023. She
highlighted the accomplishment of assisting 232 individuals spending $834,352 with the
majority being used to assist low-income to low -to -moderate -income people.
Council commended Ms. Bridgeford and her team for their diligence in administering
these funds.
COUNCILMEMBER TRAN MOVED APPROVAL OF THE 2023 CONSOLIDATED
ANNUAL PERFORMANCE AND EVALUATION REPORT AS PRESENTED; SECOND BY
COUNCILMEMBER WALSH. The motion passed unanimously as follows:
Council President Kochmar
yes Councilmember Tran yes
CouncilmemberAssefa-Dawson
yes Councilmember Walsh yes
Councilmember McDaniel
yes Councilmember Dovey yes
Councilmember Honda
yes
COUNCIL PRESIDNET KOCHMAR MOVED TO SUSPEND COUNCIL RULES AND
EXTEND THE MEETING PAST 10:00 P.M.; SECOND BY COUNCILMEMBER DOVEY.
The motion passed unanimously as follows:
Council President Kochmar
yes Councilmember Tran yes
CouncilmemberAssefa-Dawson
yes Councilmember Walsh yes
Councilmember McDaniel
yes Councilmember Dovey yes
Councilmember Honda
yes
Federal Way City Council Regular Minutes Page 6 of 7
March 19, 2024
9. COUNCIL REPORTS
Councilmember Dovey confirmed the updated Council Goal regarding airports will be added to
the April 1 Land Use/Transportation Committee Meeting (LUTC). He shared a second group of
students will graduate from the city's Financial Literacy Class on April 3.
Councilmember Walsh shared his excitement for the ongoing success of the Financial Literacy
Class. He also appreciated the metrics shared by Health through Housing and Urban League
and questioned what metrics are being used to measure the success of other facilities in the
city.
Councilmember Tran expressed gratitude for the time he was able to be in Washington D.C.
with the mayor and council. He reflected on his experience as a nineteen -year -old refugee and
expressed gratitude for the opportunities he has found in America.
Councilmember Honda suggested the council debrief on the successes of their trip to
Washington D.C. and what they would do differently. She believes this would help with future
trips and also allow for a report for the public.
Councilmember McDaniel reflected on his time in Washington D.C. noting it was very different
than anticipated He appreciated talking to people from different states and learning solutions to
similar issues.
Councilmember Assefa-Dawson also shared memories from the trip enjoying the comradery
with current council and those they met. She also related some exercises she participated in
with the Financial Literacy class noting that while funny, they highlighted the relationship people
have with money.
Council President Kochmar thanked the Mayor and Council as well as staff for the successful
trip to D.C. She asked Economic Development Director Tanja Carter to provide a report at
FEDRAC on what took place in D.C. and outlined how it helps with lobbying. She feels that they
did the best they could for the city.
10. EXECUTIVE SESSION
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• Sa{� ^r ^� o�^^�,�,r-Ps,a�t�'�'„1-4'.� ^}4s3 — not needed
• Pem&4g-er-R ti �) —not needed
11. ADJOURNMENT
There being nothing further on the agenda; the regular meeting was adjourned at 10:11
p. M.
Attest:
Jennifer Marshall, CIVIC
Deputy City Clerk
Approved by Council:
Federal Way City Council Regular Minutes Page 7 of 7
March 19, 2024
CITY OF
�. Federal Way
Centered on Opportunity
CITY COUNCIL
SPECIAL MEETING MINUTES
City Hall — Council Chambers
March 19, 2024 — 5:30 p.m.
1. CALL MEETING TO ORDER
Mayor Ferrell called the meeting to order at 5:30 p.m.
City officials in attendance: Mayor Jim Ferrell, Council President Linda Kochmar,
Councilmember Lydia Assefa-Dawson, Councilmember Paul McDaniel, Councilmember
Susan Honda, Councilmember Hoang Tran, Councilmember Jack Walsh, and
Councilmember Jack Dovey.
City staff in attendance: City Administrator Brian Davis, Assistant City Attorney Kent van
Alstyne, and Deputy City Clerk Jennifer Marshall.
2. EXECUTIVE SESSION
At 5:31 p.m. Mayor Ferrell announced the Council would recess into Executive Session for the
purpose of discussing property acquisition pursuant to RCW 42.30.110(1)(b), sale or lease of
property pursuant to RCW 42.30.110(1)(c), and pending or potential litigation pursuant to RCW
42.30.110(1)(i) for approximately thirty-five minutes. The executive session ended at 5:56 p.m.
• Property Acquisition Pursuant to RCW 42.30.110(1)(b)
• Sale or Lease of Property Pursuant to RCW 42.30.110(1)(c)
• Pending or Potential Litigation Pursuant to RCW 42.30.110(1)(i)
3. ADJOURNMENT
There being nothing further on the agenda; the special meeting was adjourned at 5:56
p. M.
Attest:
Jennifer Marshall, CIVIC
Deputy City Clerk
Approved by Council.
Federal Way City Council Special Minutes Page 1 of 1
March 19, 2024
we
COUNCIL MEETING DATE: April 2, 2024
ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
SUBJECT: FEBRUARY 2024 MONTHLY FINANCIAL REPORT
POLICY QUESTION: Should the Council approve the February 2024 Monthly Financial Report?
COMMITTEE: FINANCE, ECONOMIC DEVELOPMENT AND REGIONAL MEETING DATE: Mar. 26, 2024
AFFAIRS COMMITTEE (FEDRAC)
CATEGORY:
® Consent ❑ Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Steve Groom, Finance Director DEPT: Finance
Attachments: February 2024 Monthly Financial Report
Options to Consider:
1. Approve the February 2024 Monthly Financial Report as presented
2. Deny approval of the February 2024 Monthly Financial Report and provide direction to staff
MAYOR's RECOMM ENWATION: Mayor recommends approval of Option 1.
MAYOR APPROVAL: "-� 3/1,q /"J 11 RIrr - DIRECTOR APPROVAL: ' 1& 3
r Corhri
Initial
Initial
COMMITTEE RECOMMENDATION: I move to forward the February 2024 Monthly Financial Report to the April
2, 2024 consent agenda for approval.
Committee Memher
PROPOSED COUNCIL MOTION: "I move approval of the Monthly Financial Report. "
(BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE)
COUNCIL ACTION:
❑
APPROVED
COUNCIL BILL #
❑
DENIED
First reading
❑
TABLED/DEFERRED/NO ACTION
Enactment reading
❑
MOVED TO SECOND READING (ordinances only)
ORDINANCE #
REVISED — 1/2022
RESOLUTION #
CITY OF
,.� Federal Way
DATE: March 26, 2024
TO: Mayor and City Council
Management Team
FROM: Steve Groom, Finance Director
Chase Donnelly, Deputy Finance Director
SUBJECT: Monthly Financial
FINANCE DEPARTMENT
This report is to brief you on February's monthly and year-to-date (YTD) revenues and expenses,
compared to budget and prior year, on the city's cash and fund balance positions, and on the monthly
investment performance, transactions and current holdings.
Generally, City's cash position continues to be strong, budgetary controls on expenditures are resulting
in a slightly favorable variance and revenues are positive.
General/Street Fund Summary:
Revenues & Transfers In are favorable to YTD budget of $3.69M by $0.36M or 9.8%.
Expenditures & Transfers Out are favorable to YTD budget of $9.24M by $2K primarily due to timing
of ARPA spending, and filling of vacant Police Officer positions.
12.00 %
10.00%
8.00%
6.00% ----
4.00%
2.00%
0.00%
-2.00 %
$10,000, 000
$5,000,000
Revenue
General/Street Fui
% of Budget
General/Street Fund
Cumulative Year to Date
Revenue
0 Budget
0 Actual
Expense
CITY OF
Federal Way
Revenues and Expenditures:
General & Street Fund Financial Highlights
As detailed in the table below:
FINANCE DEPARTMENT
" Sales Tax revenue is unfavorable to budget YTD by $0.18M or 9.4%, and $0.15M or 7.9%
below prior year collections. Retail sales and services are $44K above 2023 YTD collections.
This is an indicator of the health of the local economy.
CD Pen -nits & Fees revenue is favorable to budget YTD by $0.24M or 55.8, but $0.08M or
10.6% below prior year actual.
Total Expenditures & Transfer Out is unfavorable to budget YTD by $2K, but $0.34M or 3.9%
above prior year actual. Compared to budget, expenditures have been trending favorably,
primarily due to filling of Police Department vacant positions, and timing of expenditures for
ARPA spending.
GENERAL & STREET
FUND SUMMARY
2023
2024
YTD Budget vs. Actual
Fawrable/(Wf norable)
Annual
Budget
Annual
Actual
YID
Actual
Annual
Budget
YID
Budget
YID
Actual
$
%
Beginning fimd Balance
$ 27,709,983
$ 27,709,983
$ 27,709,983
$10,603,169
$10,603,169
$ 22,452,556
n/a
n/a
Revenues:
Sales Tax
20,972,402
20,805,515
1,917,113
20,996,000
1,948,353
1,765,359
(182,994)
-9.4%
Pro a Taxes
11,762,933
11,662,976
62,678
11,938,554
64,159
110,967
46,808
73.0%
State Shared Revenue
3,153,260
3,192,206
74,426
3,194,233
74,474
76,643
2,169
2.9%
CD Pemnts & Fees
4,705,016
5,026,795
759,516
2,869,145
435,564
678,643
243,080
55.8%
Business License Fees
682,631
758,932
106,679
685,345
171,622
117,976
(53,646)
-31.3%
Admissions Tax
339,265
846,4241
21,170
390,155
9,758
17,557
7,799
79.91/o
Other Revenues
15,106,999
15,120,746
949,078
13,343,495
989,701
1,288,625
298,925
30.2%
Transfers in from Other Funds to support operations
8,635,016
4,574,790
11,149,389
-
-
n/a
Total Revenues & Transfer In
65357,522
61,988M4
3,890,660
64,566,316
3,693,631
4,055,770
362,140
9.8%
Total Eqxnditures & Transfer Out
82,464,337
67,245,814
8,899,757
65,669,354
9144,614
9,243,002
1,612
0.0%
Total Ending fiord Balance
$10,603,168
$ 22,452553 1
$ 22,700,886
$ M00,130
S 5,052,185
$ 17,265,324
n/a
n/a
CITY OF
Federal Way FINANCE DEPARTMENT
Other Fund Financial Highlights
■ Utility Taxes are favorable to budget YTD by $0.33M or 22.0%, but $5K or 0.3% below prior
year actual. Utility tax on water/sewer and addition of 10% on solid waste services account for
the increase above 2024 YTD budget.
# 'Real Estate Excise Tax (REET) is unfavorable to budget YTD by $0.21M or 32.3%, and
$0.01M or 2.4% below prior year actual. This is an indicator of the Federal Way valuation and
real estate volume of transactions.
■ Expenditures & Transfer Out is favorable to budget YTD by $0.61M or 16.9%, but $0.98M
above prior year actual. The favorable variance to budget is primarily due to timing of
residential street overlay.
OTHER SIGNIFICANT
FUNDS OF NOTE
2023
2024
YID Budget is. Actual
Fawrahle/(Unfawrable)
Annual
Budget
Annual
Actual
YTD
Actual
Annual
Budget
YID
Budget
YID
Actual
$
%
Revenues:
Utility Tax
12,339,431
12,189,955
1,360,927 j
11,782,564
866,288
1,227,168
360,880
41.7%
Utility Tax- Prop IVoter Package
3,662,436
3,657,523
241,1031
3,360,436
227,073
354,422
127,349
56.1%
Utility Tax -Solid Waste 101/o
2,200,000
2,558,785
205,051
2,300,000
383,333
220,151
(163,182)
42.6%
Real Estate Excise Tax
4,521,000
3,377,887
445,348
5,576,000
642,339
434,874
(207,465)
-32.3%
Traffic Safety (Red Li ht/School Zone)
3,800,000
4,376,677
731,849
3,060,000
505,224
598,947
93,723
18.61/o
HoteVMotel Lodging Tax
293,000
299,459
16,787
308,000
21,257
16,832
(4,426)
-20.8%
Federal Way Community Center
1,411,875
1,619,063
218,404
1,930,875
321,813
315,221
(6,592)
-2.09/o
Perforrnin Arts &EventCtr Operations
1,659,780
2,228,419
66,680
1,279,780
106,648
131,356
24,708
23.21/o
Duns Bm Centre Fund
727,698
757,060
72,377
527,698
87,950
119,360
31,410
35.71/o
Total Revenues
30,61541
31,064,827
3,358,525
30,125,354
3,161,925
3,418330
256,405
8.1%
Fxpenditures & Transfers Out:
Utility TaxSupport to Other Funds for operations
IZ067,413
8,637,396
273,203
13,829,040
554.625
554,625
W/O
Utility TaxPro osition 1 operations
4,471,873
3,916,074
552,654
4,603,703
767,284
623,078
144,206
18.8%
Solid Waste I 01/o Ut ility Tax -Residential Streets Ov cday
3,680,166
2,742,060
69,004
2,300,000
383,333
28,571
354,762
92.5%
Real Estate Excise Tax Support to Debt and Capital Projects
6,055,343
4,035,343
5,788,245
n/a
Traffic Safety (Red Li/School Zone)
3,871,735
3,519,748
347,923
4,272,419
712,070
522,245
189,825
26.7%
HoteVMotel Lodging Tax
150,000
86.949
65,000
10,833
(18,733)
29,566
272.90/,
.Jail Fund Services
4,300,000
4,619,003
273,202
2,700,000
450,000
554,625
(104,625)
-23.3%
Federal Way Community Center
2,459,893
2,456,401
213,147
2,306,857
384,476
408,309
(23,833)
-6.20%
Perfomung Arts & Event Ctr Operations
Z983,359
3,418,881
184,123
2,483,359
206,947
214,261
(7,314)
-3.5%
Dumas Bay Centre Fund
864,097
898,127
96,616
773,794
128,964
103,637
25,328
19.61/o
Total nditures & Transfers Out
40,901879
34,329.982
2,009,871
39,122,407
3,598,532
2,990,617
607,915
16.9%
hding Fund Balance
Utility Tax(non-Pro 1)
4,789,743
8,283,287
5,733,833
1,500,000
9,1%201
n/a
n/a
Utility Tax- Prop I VoterPacka e
1,000,001
1,312,502
1,259,503
1,000,001
1,043,848
n/a
n/a
Utility Tax -Solid Waste 101/o
152,073
1,448,965
1,768,287
152,073
1,425,374
n/a
n/a
Real Estate Excise Tax Fund
1,683,316
2,560,202
3,663,006
1,471,071
2,995,076
nla
n/a
Traffic Safety Fund
2,421,708
3,350,372
2,877,369
1,209,289
3,427,072
n/a
n/a
HoteVMotel Lodging Tax
2,011,015
2,080,525
1,884,802
2,254,015
2,116,090
n/a
n/a
Jail Fund
0
1
7,261
(0)
0
n/a
n/a
Federal Way Communit Center
1,557,756
1,768,438
1,742,531
1,557,756
1,675348
n/a
n/a
Perfomun Arts & Event Ctr Operations
658,344
791,461
756,493
434,743
708,558
n/a
n/a
Durmas Bay Centre Fund
2,202,259
2,197,592
1,686,271
2,221,171
2,213,315
n/a
n/a
TotalEndin F11adBalance
S16.476.216
:I;23,793346
S 21379356
$ 11,800,119
1 -
.$24,772,882
n/a.
nl'
CITY OF
�.. Federal Way
FINANCE DEPARTMENT
Sales Tax Revenue
Revenues are unfavorable to budget YTD by $0.1 SM or 9.4% and below prior year actual by $0.15M or
7.9%. The sales tax collected for transactions at point of sale is remitted to the City from the State on a
two -month lag, after retailers remit to State the first month.
LOCAL RETAIL SALES TAX REVENUES
YTD February
Month
2023
Actual
2024
Fa�nrahlel{lJnlatiorahlrl
Change from 2023
YTD Actual Ns Budget
Budget
Actual
$
%
$
%
Jan
1,917,113
$ 1,948,353
$ 1,765,359
S (151,754)
-7.9%
S (182,994)
-9.4%
Feb
1,425,556
1,459,825
-
-
Mar
1,599,609
1,445,064
-
-
Apr
1,768,995
1,733,177
May
1,622,066
1,633,016
-
-
Jun
1,750,786
1,745,774
-
Jul
1,931,467
1,921,230
-
Aug
1,850,860
1,903,016
-
Sep
1,847,683
1,872,206
-
Oct
1,783,836
1,875,739
-
Nov
1,717,195
1,756,416
-
Dec
1,590,350
1,702,183
-
YTD Total
$ 1,917,113
$ 1,948,353
$ 1,765,359
$ (151,754)
-7.9%
$ 182,994
-9.4%
Annual Totall
$ 20,805,515 1
$ 20,996,000 1
n/a I
n/a
I n/a
n/a
n/a
$22,000,000
$20,000,000
$18,000,000
$16,000,000
$14,000,000
$12,000,000
$10,000, 000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
City of Federal Way - Sales Tax Revenue Received
Current Year Actual vs Budget and Prior Year
City of Federal Way
YTD Sales Tax Revenue Comparison by Location
5300,000
$250,000
$200,000
$150,000
$100,000
$50,0 5 II �aim
Lodging Gateway Ctr Pavilion Ctr Commons 312th-316th 348th
2020 0 2021 ■ 2022 ■ 2023 0 2024
$800,000
$600,000
$400,000
$200,000
c� boa pe'
City of Federal Way
Sales Tax Revenue Comparison by Group
1 0
Retail Services
0 YTD 2023
ff
ff
Construction
Other
YTD 2024
CITY OF
Federal Way
Tax Revenue
FINANCE DEPARTMENT
Revenues are unfavorable to bL1d2Ct YTD by S4.4K or 20-80/.- but on target with nrinr vear-
HOTIIJMOTEL LODGING TAX REVENUES
Year-to-date thru Fehruary
Month
2023
Actual
2024
Favorable/ (Unfawrable)
Change from 2023
YID Actual Ns Budget
Budget
Actual
$
%
$
%
Jan
$ 16,787
$ 21,257
$ 16,832
$ 45
0.3%
$ (4,426)
-20.8%
Feb
16,159
19,804
-
-
-
-
Mar
21,239
21,550
-
Apr
27,280
25,724
May
19,444
22,579
-
-
-
Jun
21,163
21,992
-
-
-
Jul
32,180
31,636
Aug
32,746
34,077
-
-
-
Sept
29,427
32,689
-
-
-
Oct
40,254
31,253
-
-
Nov
23,106
25,606
-
Dec
19,674
19,834
-
-
-
YTDTotal
$ 16,787
$ 21,257
$ 16,832
$ 45
0.3%
$ (4,426)1
-20.80/(
Annual Total
$ 299,459
308 000
n/a I
n/a
n/a I
n/a I
n/a
City of Federal Way - Lodging Tax Revenue Received
$350.000 Current Year Actual vs. Budget and Prior Year
$300,000
52 50, 000
$200,000
$1507000
$100,000 0 Budget Cumulative
Prior Year Cumulative
$50,000
Via Actual cumulative
$0
$45,000
$40,000
$35,000
$30,000
$ 25, 000
$20,000
$15,000
$10,000
$5,o00
so
sac
City of Federal Way
Historical Lodging Tax Remittances by Month
,ems `lac PQt `Sad 'mac
112019 ❑2020 M 2021
�1
I
� Po 5e p �o Qe
22022 02023 W 2024
CITY OF
Federal Way
Business Licenses
FINANCE DEPARTMENT
Revenues are unfavorable to budget YTD by $54K or 31.3%, but above prior year actual by $11K or
10.6%.
140
New Monthly Business License Count
120
100
80
60
40
20
0
Jan
❑ 2023 50
02024 122
*excludes outside contractor businesses
Feb
69
110
Business License Revenue
Month
2023
Actual
2024
Fawrable/(Unfawrable)
Change from 2023
YID Actual
rs Budget
Budget
Actual
$
%
$
%
Jan
$ 62,005
$ 106,396
$ 67,071
5,066
8.2%
(39,325)
-37.0%
Feb
44,674
65,225
50,905
6,232
13.9%
(14,320)
-22.0%
Mar
86,195
47,853
-
-
-
-
-
Apr
67,910
48,132
-
-
-
May
61,588
�7,317
Jun
76,843
74,893
-
-
-
-
Jul
59,531
48,167
-
Aug
53,820
55,648
-
-
-
_
Sep
72,038
48,456
-
Oct
52,727
34,583
-
_
Nov
62,891
47,395
-
Dec
58,709
71,278
-
-
Ym Total
$ 106.679 1
$ 171,622
$ 117,976
11.297
10.6%
(53.646)
-31.3%
Annual Total
$ 758.932 1
$ 685,345 1
n/a
n/a
n/a
n/a I
n/a
CITY OF
1% Federal Way
FINANCE DEPARTMENT
Community Development Permits
Revenues are favorable to budget YTD by $0.24M or 55.8%, but below prior year actual by $0.08M or
10.6%.
Annual Total
2019 - $4,546,432
2020 - $1,964,825
2021 - $3,229,113
2022 - $4,040,385
2023 - $5,026,795
BUILDING & LAND USE PERMITS AND FEES (CD)
Year-to-date thru February
Month
2023
Actual
2024
Chanze from 2023
Favorable/ (Unfawrabl e)
YID Actual %s Budget
Budget
Actual
$
%
$
%
Jan
213,046
170,083
651,394
438,349
205.8%
481,311
283.0%
Feb
546,470
265,481
27,249
(519,222)
-95.0°%
(238,232)
-89 7%
Mar
595,518
243,372
-
Apr
383,643
245,428
May
669,687
307,435
Jun
357,167
209,290
Jul
422,815
216,247
Aug
406,182
266,209
Sept
635,249
262,098
Oct
293,644
240,848
Nov
221,863
222,520
Dec
281,511
220,135
YTD Total
$ 759,516
S 435,564
$ 678,643
S (80,873)
-10.6%
S 243,080
55.8%
Annual Totall
$ 5.026,795
S 2.869.145
n/a
n/a
n/a
n/a
n/a
City of Federal Way
Historical Permit Fee Revenue by Month
$900,000
$800,000
$700,000
$600,000
$S00,000
$400,000 -
$300,000
$200,000 i-
$100,000
l
$0
�aJ >J� >�\ QJ� � O�� �0 O�c
Cj 2019 2020 02021 02022 02023 02024
CITY OF
Federal Way
Real Estate Excise Tax (REET)
FINANCE DEPARTMENT
Revenues are unfavorable to 2024 YTD budget by $0.21M or 32.2% and below 2023 YTD actual by
$0.01M or 2.4%. January and February 2024 activities include 133 real estate transactions. There were
124 taxable residential sales (total sales $60.5M / $300K tax) and nine commercial sales over $1M.
City of Federal Way- REET Revenue Received
$6,000,000
$5,000,000
$4,000,000 -
_ r
f
$3,000,000
$2,000,000
O Budget Cumulative
$1,000,000 — Prior Year Cumulative
—0-- Actual cumulative
$0
REAL ESTATE EXCISE TAX REVENUES
Year-to-date thru February
Month
2023
Actual
2024
Fawr abl a/(Unfawr abl e)
Change from 2023
YTD Actual
Ns Budget
Budget
Actual
$
%
$
%
Jan
$ 192,302
$ 254,304
$ 238,836
$ 46,534
24.2%
$ (15,468)
-6.1%
Feb
$ 253,046
388,035
196,038
(57,008)
-22.5%
(191,996)
-49.5%
Mar
$ 438,312
395,863
-
-
-
-
Apr
$ 254,266
381,237
-
-
-
May
$ 313,961
533,283
-
-
-
-
Jun
$ 342,809
509,250
-
-
-
Jul
$ 248,329
474,462
-
-
-
Au
$ 284,620
642,919
-
-
-
-
Se
$ 453,885
493,431
-
-
-
-
Oct
$ 194,491
415,953
-
-
-
-
Nov
$ 203,407
319,602
-
-
Dec
$ 198,459
767,660
-
-
-
YTD Total
445,348
642339
434,874
(10,474)
-2.4%
(207,465)
-32.3%
Annual Total
$ 3,377,887
$ 5,576,000
n/a
n/a I
n/a
n/a
n/a
1%
CITY OF
1 Federal Way
Utility Tax Revenues
FINANCE DEPARTMENT
Revenues are favorable to 2024 YTD budget by $0.33M or 22.0% but below 2023 YTD actual by $5K
or 0.3%. The increase above year-to-date budget is primarily due to an increase in water/sewer utility
tax, and additional 10% on solid waste services. The utility tax collected by utility companies is
remitted to city on a 2-month lag.
UTILITY TAXES
Year-to-date thru February
Month
2023
Actual
2024
Fawrabl a/(Unfawrable)
Change from 2023
YrD Actual Ns Budget
Budget
Actual
$ Var
% Var
$ Var
% Var
Jan
$ 1,807,080
$ 1,477,037
$ 1,802,136
$ (4,944)
-0.3%
$ 325,099
22.0%
Feb
1,650,189
1,536,875
Mar
2,017,092
1,715,542
Apr
1,585,574
1,445,367
May
1,412,840
1,380,249
Jun
1,291,342
1,535,563
-
Jul
1,254,694
1,243,098
-
Aug
1,309,112
1,191,724
-
-
Sept
1,640,513
1,512,405
Oct
1,314,130
1,237,756
Nov
1,506,325
1,313,483
-
Dec
1,618,314
1,856,212
-
YFDSubtotal
$ 1,807,080
$ 1,477,037
$ 1,802,136
$ (4,944)
-0.3%
$ 325,099
22.0%
Rebate
(342)
(395)
(395)
0.0%
(53)
15.4%
YFD Total
$ 1,807,080
$ 1.476,694
1 $ 1,801,741
$ (5,339)
-0.3%
$ 325,047
22.0%
Annual Total
S 18.406.264
$ 17.443,000
1 n/a
n/a
n/a
I n/a
n/a
UTQSTY TAXES - by Type
Year-to-date thru February
Utility
Type
2023
Actual
2024
Actual
Fallorabl e/ (Uufawr abl e)
Change from 2023
$
Electric
$ 581,255
$ 680,670
$ 99,415
17.1%
Gas
295,630
$ 273,798
(21,832)
-7.4%
Water/Sewer
1 349,039
259,187
(89,852)
-25.7%
Solid Waste
158,915
170,617
11,702
7.4%
Solid Waste - 10%
205,051
220,151
15,100
n/a
Cable
130,527
116,593
(13,934)
-10.7%
Other
86,663
81,120
(5,543)
-6.4%
Tax Rebate
(395)
(395)
n/a
YTD Total
1 $ 1,807.080
1 $ 1,801,741
$ (5,339)
-0 3
City of Federal Way- Utility Tax Revenue Received
S20,000,000
518,000,000
516,000,000
514,000,000
512.000,000
510,000,000
$3,000,000
$6,000,000 — eudgee emulative
$4,000,000 — Prior Year Cmulative
52,000,D00 'Walcumulative
<_0
- 4,1 do
The City has a utility tax rebate program that opens January 1 St and closes May 3 1 " of each year for
qualifying low-income residents. The City processed 41 rebates in 2021 (total of $2,310), 24 rebates in
2022 (total of $1,305), 19 rebates in 2023 (total of $940) and 10 rebates (total of $395) to date in 2024.
The 2024 rebate program has been posted to the city website and information material has been
distributed to known past users and communicated to those who can relay to potential new ones.
Federal Wa
� y
Proposition 1 Voter -Approved Utility Tax
19101l_I04[ a910011098L4.11
Revenues are favorable to budget YTD by $0.13M or 56.1 %. The fund continues to maintain a fund
balance within the reserve policy of $1M.
PROP 1 Utility Tax Fund
2023
2024
YID Budget vs. Actual
Favorable/(Unfawrable)
Budget
Annual
Actual
Budget
YID Budget
YID Actual
$
%
Beginning Balance:
1,571,054
1,571,054
1,000,000
$ 1,000,000
1,312,504
312,504
31.3%
Total Prop 1 Revenues:
3,662,436
$ 3,657,523
3,360,436
$ 227,073
$ 354,422
$ 127,349
56.1 %
Transfer in from Utility Tax Fund
238,384
1,243.268
$ -
-
-
n/a
Public Safety Improvement Positions & Costs:
Police Services (includes 1 Records Specialist, 16 Police
Officers, & 2 Lieutenants)
2,974,715
1 2,619,317
3,085,654
$ 514,276
475,113
39,163
7.6%
Court Services (includes .50 Judge, 1 Court Clerk, and Pro
Tern Pay, Public Defender contract, 1.5 Prosecutors)
1,163,732
915,212
1,189.,682
$ 198,280
58,6391
139642
70.4%
Total Public Safety Improvement Costs
4,138,447
3,534,529
4,275,336
$ 712,556
533,751
178,805
25.1%
Community Safety Program Costs:
1 Code Enforcement Officer
120,465
126,134
124,925
$ 20.821
28,624
(7,803)
-37.5%
.5 Assistant City Attorney
94,411
1 78,411
82,345
$ 11724
14,271
(546)
-4.00o
1 Parks Maintenance Worker I& Security
118,550
176,998
121,097
$ 20,183
46,432
(267249)
-130.1%
Total Community Safety Improvement Costs
333,427
381,543
328,368
54,728
89,326
(34,599)
-63.2%
Total Prop 1 Expenditures:
4.471.873
3.916.072
4,603,704
$ 767,284
623,078
144.206
18.8%
Total Ending Fund Balance:
$1,000.000
$ 1.312.504
$1,000.000
$ 459,790
$1,043,849
$ (584.059)
-127.0%
Traffic Safety - Red Light / School Zone
Revenues are favorable to budget YTD by $0.09M or 18.6%, but below prior year actual by $0.13M or
18.2%.
Traffic Safety Fund - Red Light Photo Revenue
Month
2023
Actual
2024
Favorable/(Unfavorable)
Change from 2023
YID Actualvs Budget
Budget
Actual
$
%
$
%
Jan
$ 305,897
$ 262,385
$ 312,250
$ 6,353
2.1%
$ 49,865
19.0%
Feb
425,952
242,839
286,697
(139,255)
-32.7%
$ 43,858
18-1%
Mar
582,573
249,610
$
Apr
502,534
259,603
-
$
May
424,939
257,290
-
$
Jun
401,659
307,973
-
$
Jul
294,140
284,056
-
$
Aug
263,310
200,766
-
$
Sep
228,474
198,764
-
$
Oct
348,651
262,668
Nov
319,588
301,792
-
-
$
Dec
278,962
232.254
$ -
YmTotal
$ 731,849
$ 505,224
$ 598,947
$ (132,902)
-18.2%
$ 93,723
18.6%
Annual Total
$4,376,677
$3,060,000
n/a
n/a
n/a
n/a
n/a
Traffic Safety Fund pays for 1 Lieutenant, 8 Police Officers, 3 City Traffic positions, Municipal Court
security services, red light photo services, Valleycomm emergency communication services, School
Zone Enhancements capital improvement projects, and patrol vehicles.
CRY OR
� Federal Way
Police Department Overtime
Year-to-date PD overtime is $1 K or
0.3 % above prior year actual.
The City's portion (unbillable) is
$0.09M or 57.3% above YTD
budget, and is funded entirely by PD
vacancies.
Overtime incurred is primarily due to
service required for special events,
shift call -in, shift extension, training,
and special emphasis proactive
activities.
Jail Services
FINANCE DEPARTMENT
PD Overtime by Mouth
Year -to." thru February
Month
2023
Actual
2024
(Favorableytiofavorable
Change from 2023
YID Actual vs Budget
Budget
Actual
S
%
$
%
Jan
$ 116,488
$ 86,391
$ 128,863
$ 12,375
1069/6
S 42,472
492%
Feb
142,906
76,342
127,091
05,815)
-11 1%
50,749
66.5%4
Mar
130,707
71.047
Apr
114,651
80,621
-
May
139,773
92,960
Jun
133.025
79.362
-
Jul
154,339
128,292
Aug142,134
85,928
-
-
Sep
127372
80943
Oct
131,878
95,285
Nov
143,126
94,435
-
Dec
137.511
93.398
-
-
CStyPortion
259.394
162.733
255954
f3A40]
-1.3
93,221
51.3
Billable
77,945
44,953
82,3291
4.484
5 8%
37.376
83 1
YIDTotal
$ 337,239
S 207,686
S 338,2S3
$ 1,044
0.3%
S 130597
62.9
Billable
$ 344,0481
$ 278,012
S • I
W
W
$
Annual Total
$ 2,023.529.1
S 1.387.975
n/a I
n/a
n/a
n/a
n/a
Average Daily Population City of Federal Way
70
Jail Post
60 ,000,000
7
iI ,000,000
50
6,000,000
40
5,000,000
30 f 4,000,OOD
20 3,000,000
! 2,000,000 tl�
30 1,000,000
o _
Jan Feb 2016 Act 2019 Act 2020 AR 2023Act 2022 Act 2023 AR 2024 Bud 2024 YTD
2023 59.9 59.7
a 2024 56.8 57.9 ❑Debt Service /Jail Services
Jail and Alternatives to Confinement
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Annual Budget
YID Actual
Total Jail 0 rations
$6.417,479
$5.932,095
$1,712,883
$ 2,223,602
$2,871,368
$4,619,002
$ 2,700,000
S 554,625
Debt Service Payments for SCOREJail
889,718
847,566
851,925
852,425
852.275
850,425
Total Jail Cost
$6,417.479
$6,821,813 1
$2,560,449
$ 3,075,527
$3,723,793
$5,471.277
$ 3,550,425
$ 554,625
The City maintains multiple contracts with other governmental agencies for its jail services, after it
discontinued its owner relationship with SCORE Jail in December 2019. The budgeted average daily
population (ADP) is 70, and average ADP was 57.4 for the first two months.
The City continues to be liable for its portion of the debt service on the SCORE building. The total
remaining principal debt the City owes as of 12/31/2023 for SCORE is $9,335,000, and continues to be
reduced by principal payments of about $0.9 million a year.
CITY OF
Federal Way
FINANCE DEPARTMENT
Federal Way Community Center
Revenues are below 2024 YTD budget by $7K or 2.0%, but above 2023 YTD actual by $0.10M,
primarily due to increased memberships.
Expenditures are above 2024 YTD budget of $0.38M by $0.02M or 6.2%.
Community Center remaining building construction debt service principal as of 12/31 /2023 was
$7.13M.
Federal Way
Community Center
as of02/29/2024
2023
2024
YID Budget is Actual
F1loral>>c!(UnfawraWe]
Budget
Annual
Actual
YID
Actual
Budget
YTD
I Budget
YTD
Actual
5
Beginning Fund Balance
$ 1,737,273
$ 1,737,273
$ 1.737.273
$ 1,557,756
$ 1,557,756
$ I,768,436
n/a
n/a
Total Revenues
1,411,875
1,619,063
218,404
1,930,875
321,813
315,221
(6,592)
-2-0%
Total P nditures
2,459,893
2.456.401
213,147
2,306,857
384,476
408,309
(23,833}
-6.2%
Revenues O1er / (Under) Rr nditures
(1,048,018)
(837339)
5,257
1 (375,982)
(62,664)
(93,088)
(30,424)
48.6%
Recovery Ratio
57.4%1
65.9%1
102.5 %
83.7%
83.7 %
77.2 %
n/a
n/a
Total Transfer In from General Fund/Utility Tax
868,501
868,501
375,982
62,664
(62,664)
-100.0%
Endine Fund Balance
$ 1.557,756
$1.768A36
$1.742,531
$1.557,756
$ 1,557,756
$1,675,348
$ 117,592
7.5%
Debt Ser%ice Paiments
1 822,123
822,123
822,473
827,873
n/a
Total FWCC Cost
I $ 3.282.016
$ 3.278.524
$1.035.619
$ 3.134.730
S 384A76
$ 408.309
1 $ (23.833)
-6.2 %
Total City Support Is 1,690,624 I $1,690.624 1 $ 822,473 1 $1,203,855 1 $ 62,6641 $
Dumas Bay Centre
Revenues are above 2024 YTD budget by $0.03M or 35.7%, and above 2023 YTD actual by $0.05M.
The facility reopened as of the beginning of August 2021.
Expenditures are above 2024 YTD budget of $0.13M by $0.03M or 19.6%.
Dumas Bay Centre Fund
as of02/29/2024
2023
2024
YTD Budget rs Actual
Budget
Annual
Actual
YTD
I Actual
Budget
YTD
Budget
YTD
I Actual
Favorable/(Unfavorable)
$ %
Beginning Fund Balance
$1,710,510
$ 1,710,510
$ 1,710,510
$2.202.259
$ 2,202.259
$ 2.197.592
n/a
n/a
Total Revenues
727,698
757.060
72,377
527-698
87.950
119.360
31.410
35.74/a
Total Fxpenses
864,097
898,127
96,616
773,784
128.964
101637
25.328
19.6%
Re\enues Over/(Under) Expenses
(136.399)
(141.067)
(24.239}1
(246,086)
(41,014)
15,723
1 56,737
-138.3 %
Recovery Ratio
84.21 %
84.29 %
74.91%1
68.20%1
68.20 %
115.17 %
n/a
n/a
Total Transfer In
628,148
628,149
264,998
-
:n/a
Fdtdln Fund Balance i
$ 2.202.259
S 2197,592
i S 1.686.2711
$ 2.221.1711
$ 2,161.245
$ 2,213,315
1 $ 52,070
i 2,4%
Performing Arts & Event Center Operations (PAEC)
Revenues are above year-to-date budget of $0.1 M by $0.02M primarily due to the facility reopening,
and operations coming back to pre -pandemic levels.
Expenditures are $7K or 3.5% above the YTD budget.
Performing Arts & Event Center remaining building construction debt service principal as of
12/31/2023 was $4.95M.
113Perform in Arts 8 Event Center Operations
(PAEC)
2019 Actual
2020 Actual
' 2021 Actual
2022 Actual
2023 Actual
2024 Budget
YTD Budget
2024 YTD
Actual
YTD Budget vs. Actual
Favorablel( Unfavorable)
Beginning Balance
(447,382)
(110,546)
-
873,590
873,936
658,344
658,344
791,462
$
%
Total Revenue
1,410,377
591,152
r 1,443,088
1,690,259
2,2211,419
1,279,780
r 106,648
131,356
24,708
23.2%
Total Transfer In from Utility Tax/General Fund
1,516,000
972,310
1,083,942
941,464
1,107,987
979,977
81,665
-
(81,665)
-100.0%
Total Expenditures
2,589,541
1,452,916
1,653,440
2,631,377
I 3,418,880
2,483,359
206,947
214.260
(7,314)
-3.5%
Total PAEC Operation Balance
$ (110,646)
$ 0
$ 873,590
$ 873,936
$ 791,462
$ 434,743
$ 639,711
$ 708,558
$ 68,847
10.8%
Debt Service Payments
536,247
553,255
781,330
772,671
772,320
-
n/a
Total PAEC Cost
$ 2,589.541
$ 1,991,163
$ 2,206,695
$3,412,707
$4,191,551
$ 3,255,679
$ 206,947
$ 214,260
1 $ (7,314)
-3.5%
Total City Support
$ 1,510,557
$ 1,637,197
$1,722,794
$1,880,658
$ 1,752,297
$ 81,665
$ -
$ 81,665
100.0%
CITY OF
Federal Way
Fund Activity Summary
FINANCE DEPARTMENT
Fund#/Fund Name
Begin Balance
1/1/2024
YTD
Revenues
YID
Expenditures
YID Net
Income/(loss)
Ending Balance
02/29/2024*
Required Fund
Balance
001/101 GeneraUStreel Fund**
$ 22,452,556
$ 4,055,770
9,243,002
$ (5,187,232)
$ 17,265,324
$ 9,500,000
Special Revenue Funds:
102 Arterial Street
980,433
35,229
75,747
(40,518)
939,916
100,000
103 Utility Tax(*)
8,283,288
1,439,538
554,625
884,913
9,168,201
1,500,000
104 Affordable & Supportive Housing Sales Tax
145,923
15,333
15,333
161,256
-
106 Solid Waste & Recycling
458,902
92,351
68,135
24,216
483,118
107 Special Contracts/Studies Fund
1,035,701
-
1,035,701
-
109 HoteUMotel Lodging Tax
2,080,525
16,832
(18,733)
35,565
2,116,090
200,000
I I Federal Way Community Center
1,768,436
315,221
408,309
(93,088)
1,675,348
1,500,000
112 Traffic Safety Fund
3,350,370
598,947
522,245
76,702
3,427,073
1,200,000
113 Real Estate Excise Tax Fund
2,560,202
434,874
434,874
2,995,076
2,000,000
114 Prop 1 Utility Tax
1,312,504
354,422
623,078
(268,656)
1,043,848
1,000,000
115 Perforating Arts & Event Ctr Operations
791,462
131,356
214,260
(82,904)
708,558
116 Solid Waste 10% Utility Tax
1,448,966
4,978
28,571
(23,593)
1,425,374
119 CDBG
63,358
-
36,241
(36,241)
27,117
120 Path & Trails
1,863,850
680
680
1,864,530
121 Technology
660,867
67,659
67,659
728,526
122 Jail Fund
0
554,625
554,625
(0)
0
188 Strategic Reserve Fund
3,002,082
3,002,082
3,000,000
189 Parks Reserve Fund
1,133,157
1,133,157
1,125,000
Subtotal Special Revenue Funds
30,940,027
4,062,045
3,067,102
994,943
31,934,970
$119625,000
201 Debt Service Fund
(1,362,628)
29,931
(29,931)
(1,392,559)
Capital Project Funds:
301 Downtown Redevelopment
5,327,997
370
-
370
5,328,367
302 Municipal Facilities
175,507
-
175,507
303 Parks
2,451,323
4,620
1,001
3,619
2,454,941
304 Surface Water Management
6,322,537
7,682
(7,682)
6,314,856
306 Transportation
14,736,122
(683,192)
1,785,033
(2,468,225)
12,267,897
307 Capital Project Reserve Fund
370,343
-
370,343
Subtotal Capital Project Funds
29,383,830
(678,203)
1,793,716
(2,471,918)
26,911,912
-
Enterprise Funds:
401 Surface Water Management
5,744,574
62,791
629,874
(567,083)
5,177,492
690,000
402 Dumas Bay Centre Fund
2,197,592
119,360
103,637
15,723
2,213,315
1,500,000
Subtotal Enterprise Funds
7,942,166
1829151
733,511
(551,360)
7,390,806
$ 2,190,000
Internal Service Funds
501 Risk Management
1,760,850
420,617
2,642,128
(2,221,511)
(460,661)
600,000
502Information Systems
4,288,639
596,268
935,379
(339,111)
3,949,528
-
503 Mail & Duplication
274,203
23,086
8,312
14,775
288,978
504 Fleet & Equipment
8,159,943
525,625
546,159
(20,534)
8,139,409
505 Buildings & Furnishings
2,712,141
100,516
100,812
(296)
2,711,845
2,000,000
506 Health SelfInsurance Fund
4,020,794
694,939
64,314
630,626
4,651,419
-
507 Unemployment Insurance Fund
346,769
346,769
250,000
Subtotal Internal Service Funds
219563,339
2,361,053
4,297,105
(1,936,052)
19,627,287
$ 2,850,000
Total All Funds
$ 110,919,290
$ 9,982,816
$ 19,164,366
$ (9,181,550)
$ 101,737,739
$ 26,165,000
CITY OF
Federal Way
Monthly Treasury Positions and Activity
FINANCE DEPARTMENT
This monthly report of all investment transactions to the city council via FEDRAC complies with RCW
35.39.032. The following pages provide a summary of the current investment portfolio holdings and
the individual transactions and activity during the month.
Portfolio Yield: The City's total annualized yield was 3.7%. The City's position in LGIP was $27.8
million and the laddered portfolio was $65 million.
Face Value
City Portfolio: 65,000,000
State Investment Pool: 27,801,772
Total: $ 92,801,772
Cost
62,713,074
27,801,772
$ 90,514,846
Annual
Yield %
Yield $
3.174%
2,063,039
4.947%
1,347,454
3.675%
$ 3,410,493
Interest Revenue Compared to Budget and Prior Year
Year-to-date interest revenue through February of $628,000 exceeds budget of $481,000 by $147,000
or 31 % and exceeds prior year by $113,000 or 22%. Accrual basis interest for the month was
$302,000.
City of Federal Way - Investment Revenue
$4,000,000 Current Year Actual vs. Budget and Prior Year
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
,ate "? hey Off, 11�,0
4 Oee
CITY OF
,:*:N& Federal Way
FINANCE DEPARTMENT
The following city portfolio summary is provided by our third -party custodian, US Bank, and
summarizes both the ending position and the activity within the month:
Cobank
Acci Name. CITY OF FEDERAL WAY SUMMARY - USD Page 1
Accl Number: XXXXXXX033 For pe:hod 02/01/2024 - 02/29/2024
ACTIVM - SsttlediCleared Cash AcW
Transaction Type
Amount
Purchases
000
Purchase Reversals
0010
Sales
0.00
Sale Reversals
0,00
Withdrawals
0.00
Reoelpts
(3,042,039.11)
Deliveries
0.00
Pdnclpol Reversals
0.00
Interest
163.475.00
Interest Reversals
0.00
Interest Aci tmunents
0,00
matuntles
2,000,000.00
Calls
0.00
Puts
000
Paydowns
000
Paydown Adjustments
000
Payups
000
Payup Adjustments
000
Cash Dividends
0.00
Balance Charges
0 00
Stock Dividends
000
Closeouts
000
Closeout Dividends
000
Not Activky (878,664.11)
HOLDINGS - Custody
Your Sales Representative is: SAFEKEEPING OPERATIONS
(800) 236-4221
Statement Contents
'Summary
'Activity - Set0edlCleared Cash Activity
'Activity - Projected AcIivrty for Next Statement Period
'Holdings
Category Par/Shares Original Face Principal Cost Market Value
Treasury Obligations 46,000,000.00000 46,000,000.00000 43,1129,053.91 43,734,609.34
US Govemmenl Agency Searmies 18,000,000.00000 18,000,000.00000 18,000,816 08 17,687,880.67
Coloorato Seaton 1.000.000.00000 1,000,000.00000 943.200.00 945,757.31
Total Custody Holdings 65,000,000.00000 65,000,000.00000 62,773,069.99 62,368,247.32
Market Value is currently below both Original Face Value, the value we'll receive at maturity, and
Principal Cost, what we paid. This is partially due to purchasing at discounts and also because rates have
risen, so the investments purchased in the past, at lower rates, aren't as desirable on the secondary
market, to those who trade actively. This is an unrealized change in market value, since all investments
will be held to maturity, receiving full value. All investments are bullets, or uncallable, therefore full
face value will be realized at maturity, received in cash.
Maturities: During the month, the following investment matured:
• 2021-011 FNMA $1,000,000, matured February 2024, yielding 0.7%
2023-057 FHLB $1,000,000, matured February 2024, yielding 5.2%
Purchases: During the month, the following investments were purchased, maximizing yield at the time
of purchase for the maturity date being filled, having first assured safety and liquidity of the entire
portfolio (see addendum for complete rationale):
• 2023-083 FHLB $1,000,000, matures December 2028, yielding 4.0%
■ 2023-084 FHLB $1,000,000, matures February 2025, yielding 4.8%
• 2023-085 US Treasury $1,000,000, matures February 2029, yielding 4.3%
CITY OF
V:N�-
Federal Way
FINANCE DEPARTMENT
The maturity distribution of the laddered portion of the portfolio shows that $1-2 million will mature
each month for the next 60 months, mitigating reinvestment (interest rate) risk, as follows:
$ 2, s00,000
$2,000,000
$1, 500,000
$1, 000,000
$500,000
$0
-1' -y 11 ,] -ti? ,yh ,tl -ti> -L? -5 tih tib tip 10 .yia Zb ,L'� ,tip ^ -� 1� tit 4.p .;4 �4 Nb .y �q
i a C e4 • a� a4 a° 3 a� 1 If
.i c
City of Federal Way
Investment Portfolio Maturity Distribution - February, 2024
and the diversification distribution partially mitigating credit risk, as follows:
City of Federal Way
Diversification by Issuer - February, 2024
US TREAS,
$46,000,000 ,
49.6% -
$27,801,772 , _
30.0%
FHLB,
$9,000,000 ,
9.7%
FFCB,
$4,000,000 ,
4.3%
FNMA,
$2,000,000 ,
2.2%
FHLMC,
$2,000,000 ,
2.2%
TVA,
$1,000,000 ,
1.1%
AAPL,
$1,000, 000 ,
1.1%
CIT
Federal Way
Safekeeping Report Detail
FINANCE DEPARTMENT
This monthly safekeeping report of all investment transactions held in safekeeping by US Bank lists
securities by maturity
date,
first obligations
of the US Treasury,
then US
Government Agency
Securities, and Corporate Securities last.
Acct Name: CITY OF FEDERAL WAY
HOLDINGS AS OF 0Z7=024 - USD
Page 5
.Acct Number: XXXXXXX033
CUSTODY
Maturity Security ID
Rate
Description
Par/Shares
Principal Cost
Market Value
Ticket
Acq Data
Original Face
NAV
Treasury Obligations
04130/2024 9128286R6
2250
U.S. Treasury Notes
1,000,000.00
1.036.093.75
994.804 69
392220606
11121
2250. 04/302024
1,000,000.00
0511512024 912828WJ5
2 500
U.S. TREASURY NOTES
1,000,000.00
969,390.00
994.101 56
819027333
03f23
912828WJ505115124
1,000,000.00
0513112024 912826XT2
2000
U S TREASURY NOTE
1,000,000.00
1,032,226.56
991.640 62
819020999
11121
2 NOTE 2024
1,000,000.00
0611512024 91282CCG4
250
U S TREASURY NOTE
1,000,000.00
991.679 69
995.351 56
751 at 3140
11/21
25 NOTE 2024
1,000,000.00
09/1 S72024 91282CCX7
.375
U S TREASURY NOTE
1,000,000.00
995,898 44
974A01.56
392219201
10121
.375 NOTE 91152024
1.000,00.00
1011S12024 91282CDB4
.625
U S TREASURY NOTE
1,000,000.00
1,000,000 00
971.992.19
392219779
10121
.625 NOTE 2024
1,000,000.00
1-IM512024 91282CDHI
.750
U.S. Treasury Notes
1,000,000_00
1,001,171.88
969.45312
819020954
11/21
91282CDH1 1111512024
1,000,000.00
01/3112025 91262BZ52
1.375
U S TREASURY NOTE
1.000.000.00
1,006.718 75
967.070.31
819021510
01/22
1.375 NOTE 2025
1,000,000.00
0313l 2025 912828ZFO
S00
U.S. Treasury Notes
1,000,000.00
963,437.50
9532D3.12
399922253
ON22
91282BZFO=112025
1,000,000.00
04130/2025 912826ZL7
375
U.S TREASURY NOTES
1,000,000.00
932,343.75
948,63281
392223194
04122
912828ZL7 0.375 0413025
1,000,000.00
05/31/2025 912828ZTO
250
U S TREASURY NOTE
1,000,000.00
924.648.44
943.828 12
392223819
05122
25 NOTE 25
1,000,000.00
Acct Name: CITY OF FEDERAL WAY
HOLDINGS AS OF 02i28l2024 - USD
Page 6
Acct Number: XXXXXXX033
CUSTODY
Maturity Security ID
Rate
Description
Par/Shares
Principal Cost
Market Value
Ticket
Acq Data
Original Face
NAV
06130/2025
91282823
250
U S. Treasury Notes
1,000,000.00
928,164.00
98
940,8.44
392224043
06/22
250. W30/2025
1,000,000.00
0713112025
91282CAB7
250
U S TREASURY NOTE
1,000,000.00
918,125.00
937.500 00
392224067
06/22
25 NOTES 25
1,000,000 00
10131/2025
91282CATB
250
U.S. Treasury Notes
1,000,000.00
911,640.63
928,242.19
392224292
07122
250. 0/31/2025
1,000,000.00
12131/2025
9128285T3
Z625
US TREASURY NOTES
1,000,000.00
983,828.13
963.867.19
392224349
07122
2.625 NOTE 25
1,000,000.00
01/3112026
9128286A3
2.625
U S TREASURY NOTE
1,000,000 00
984.218.75
962,890 62
751014661
07/22
2.625 NOTE 2026
1,000,000.00
0313112026
912628619
2250
U S TREASURY NOTE
1,000,000.00
964.630.00
953,359 36
751015129
0B/22
2.25 NOTE 26
1,000,000.00
04130/2026
91282CBWO
.750
U.S Treasury Notes
1,000,000A0
909,960.94
921,32E 12
392224636
0822
91282CBW00413=026
1,000,000.00
051312026
91282CCFB
.750
U S TREASURY NOTE
1,000,000.00
907.968.75
918,967 19
392224637
08122
.75 NOTE 2026
1,000,000.00
0613012026
91282CCJS
.875
U.S. Treasury Notes
1.000.000.00
906,718.75
919.687 50
392224738
09/22
91282CCJS 0613012026
1,000,000.00
07131/2026
912828Y95
1,875
U.S. Treasury Notes
1,000,000.00
943,437.50
939.570.31
751015330
0922
1875.07/312026
1,000,000.00
10/31/2026
91282CDG3
1.125
U.S TREASURY NOTES
1,000,000.OD
888,240.00
916210.94
392225109
1022
1.125 NOTE 2026
1,000,000.00
1IMS12026
912828U24
2.000
USTREASURY NOTE
1,000,000.00
917,03125
937,26562
751015708
10/22
2 NOTE 26
1,000,000.00
CITY OF
Federal Way
FINANCE DEPARTMENT
Acct Name: CITY OF FEDERAL WAY HOLDINGS AS OF 02/2912024 - USD Page 7
Acct Number: XXXXXXX033
CUSTODY
Maturity Socurlry ID Rate Description ParlSharee Principal Cost Market Value
Ticket Acq Date Original Face NAV
111302026
91282CDK4
1 250
UNITED STATES TREAS NTS
1.000,000 00
11110,711125
917,421.98
751015831
10/22
125 NOTES 1113026
1,000,000.00
01/31/2027
91282BZ78
1 500
U.S. Treasury Notes
1,000,000.00
903.100.00
920.273 44
392225551
11/22
912828Z78 1/312027
1,000,000.00
02115/2027
912810EZ7
6 625
U S TREASURY BOND
1,000,000.00
1,105,937.50
1.062.187.50
392225738
12/22
SER 2027
1,000,000.00
0313112027
91282CEF4
2500
U.S TREASURY NOTES
1,000,000.00
9W,40625
945.07812
392225993
01 /23
2.50 NOTE 2027
1.000.000 00
041302027
91282CEN7
2 750
U.S. Treasury Notes
1,000,000.00
955,507.81
951.054 69
392226190
0223
91282CEN70413012027
1,000,000.00
W3012027
91282CEW7
3250
US TREASURY NOTE
1,000,000.00
973.920.00
964,6D938
3922215443
O6/23
3.250.061302027
1,000,000.00
071312027
91282CF82
2 750
US TREASURY NOTE
1.000.000.00
942.460.94
947.951.56
392226878
07123
2.750.07/312027
1,000,000.00
011131M27
91282CFH9
3125
US TREASURY NOTE
1,000,000.00
%5,468.75
958,82812
751017327
0723
91282CFHQ 0JV312027
1.000.000.00
091302027
91282CFMB
4 125
US TREASURY NOTE
1,000,000.00
999,726.56
991250.00
392229M
07/23
4.125. 09/302027
1,000.000 00
10/31/2027
91282CFUD
4125
US TREASURY NOTE
1,000,000.00
9%,953.13
991,36719
392229236
07/23
4.125 NOTE 2027
1.000,000-00
1213112027
91282CGC9
3.875
US TREASURY NOTES
1,000,000.00
984,590.00
982.773 44
392229416
0723
3.875% NOTE 12/31127
1,000,000.00
011312029
91282CGHB
3500
UNITED STATES TREAS NTS
1.000,00000
973,125.00
969,140.62
392229538
011/23
3.5%01I31128
1,000,000.00
Acct Name: CITY OF FEDERAL WAY
HOLDINGS AS OF 02/29/2024 - USD
Page S
Acct Number: XXXXXXX033
CUSTODY
Maturity
Security ID
Rate
Description
Par/Sharas
Principal Cost
Market Value
Ticket
Acq Date
Original Face
NAV
0211512028
9128283WB
2750
USTREASURY NOTE
1,000,000.00
931,250.00
94187500
819029420
09123
2.75 NOTE 28
1.000.000 OD
031312026
91282CBS9
1.250
U S TREASURY NOTE
1,000,000.00
867.060.00
885.039 06
819029470
0923
125 NOTE 28
1,000,000.00
04I302028
91282CHA2
3.500
US TREASURY NOTE
1,000,000.00
955,54688
968.D07 81
819029935
1023
3.500. 04 M2028
1,000,000.00
051152028
9128284N7
2.875
U.S Treasury Notes
1,000,000.00
940,312.50
943.867 19
819030430
1123
91282941,17 5/15128
1,000.00000
0513112028
91282CCE9
1250
U.S Treasury Notes
1,000,000 OD
W0,215.8I
881.D93 75
931000D49
11123
91282CCE9 513112028
1,000,000.00
0713112028
91282CCRO
1.000
U S TREASURY NOTE
1,000,000.00
868,476 56
867 382 81
931000391
12/23
07/3112028
1,000,000.00
0811512028
9128294V9
Z875
U.S. Treasury Notes
1,000,000.00
943,867.19
941,28906
931000566
12/23
9128284V9 8/1528
1.000.00000
09/302028
91282CJAO
462,5
U S. TREASURY NOTE
1,000,000 00
1,031,679.69
1.012.968 75
751019815
1223
4.625 NOTE 9/3012028
1,000,000.00
10131202E
91292CDF5
1 375
U.S. TREASURY NOTES
1,000,000.00
887,109.38
877,500 00
931000934
01124
1.375 NOTE 2028
1,000,000.00
111302028
91282CDL2
1 500
U.S. TREASURY NOTES
1,000,000.00
898,395.94
880.976 56
819030919
0124
1.50 NOTE 2028
1,000,000.00
021282029
91282CKD2
4 250
U S TREASURY NOTE
1,000,000.00
999,570.31
998,906 25
819030992
02/24
4250, 0212812029
1,000,000 OD
Treasury Obligations Total
46,000,000.00000
43,829,053.91
43,734,609.34
46,000,000.00000
US Goyomm of
Agoricy Sacurlues
CITY OF
Federal Way
FINANCE DEPARTMENT
Accl Name: CITY OF FEDERAL WAY HOLDINGS AS OF 0212912024 - USD Page 9
lai ANumber. XXXXXXX033
CUSTODY
Maturity Security ID Rate Dsaenption ParlShares Principal Cost Market Value
Ticket Acq Date Original Face NAV
03J0a12024
3130AB3H7
2 375
FEDERAL HOME LOAN BANK
1,000,000.00
1,036,546.00
999A2447
751013276
12J21
03f08J24
1.000,000 00
000412024
3130AV7F3
5250
FEDERAL HOME LOAN BANKS
1,000,000.00
99$260.00
999277 38
382226815
03J23
CONS BD 525%24
1,000,000.00
07102J2024
3135GOV75
1 750
FEDERAL NATL MORTGAGE ASSN
1,000,000.00
1,029,480.00
987.970 10
751013094
10121
07102124
1.000.000.00
OW1512024
3130AGWK7
1.500
FEDERAL HOME LOAN BANK
1,000,000.00
1,023,285 00
982,640 00
751013093
10121
05+1512024
1,000,01)0.00
09/1312024
3130ATVD6
4.875
FEDERAL HOME LOAN BANKS
1.000.000.00
994,500.00
997.929 94
919027332
=3
CONS BD 4.875%24
1,000,000.00
12JI312024
3130APROO
750
FEDERAL HOME LOAN BANK
1,000.000 00
995,541.00
966 151 46
751013275
12J21
12J7312024
1'000,000 00
12/1312024
3130ATURB
4 625
FEDERAL HOME LOAN BANKS
1,000.000 00
992,652.00
994.559 52
819027291
02J23
CONS BD 4 625%24
1,000,000 00
02JO612025
3130AYS49
4 750
FEDERAL HOME LOAN BANK
1,000,000.00
999,134.08
996,81580
751020561
02124
CONS BD 4 75%25
1,000.000 00
0211212025
3137EAEPO
1.500
FEDERAL HOME LOAN MTG CORP
1,000.000 00
1,002,357.00
966,886 60
819021816
02122
02J12)25
1,000,000.00
08/2512025
3135G05X7
375
FEDERAL NATL MORTGAGE ASSN
1,000,000 00
909,873.00
936.531 89
751014188
06122
O025J25
1.000,OOD.00
09/2312025
3137EAEX3
375
FEDERAL HOME LOAN MTG CORP
1,000,000.00
915,848.00
933,BDO 51
751014307
06/22
OW2312025
1,000,00000
11/0112025
880591CJ9
6750
TENN VALLEY AUTHORITY
1,000,D00.00
1,115,095.00
1.030,40020
751014409
07122
11101/2025
1.000,000 00
Acct Name:
CITY OF FEDERAL WAY
HOLDINGS AS OF 02129/2024 - USD
Page 10
Ace( Number: XXXXXXX033
CUSTODY
Maturity
Security ID
Rate
Description
ParJShares
Principal Cost
Market Value
Ticket
Aeq Data
Original Face
NAV
02J25)2026
M0312026
091112026
0511212027
12J0812028
01111112029
3133FNJ35
751015104
3133ENDSO
392224855
3130ATFH5
392224959
3133EPJP1
392228113
3130AXQK7
931001147
3133EPW84
75102D462
Corporate Securities
11/132027 037833DK3
392229402
3 320
FEDERAL FARM CREDIT BANK
1,000,000.00
998,689.00
975299 68
ON22
CONS BD 3.32%26
1,000,000.00
3 000
FEDERAL FARM CREDIT BANK
1,000,000.00
974,853.00
962,9W.54
09122
CONS BD 3%26
1,000,000.00
3 750
FEDERAL HOME LOAN BANKS
1,000,000.00
994,536.00
982.351.10
OW22
CONS BD 3.75%26
1,000,000.00
3625
FEDERAL FARM CR BKS
1,000,000.00
996,867 00
974,910.92
05J23
CONS BD 3 625%27
1,000,000.00
4 750
FEDERAL HOME LOAN BANKS
1,000,000.00
1,030,800.00
1.018.666 72
02124
CONS BD 4 75%28
1,000,000.00
3875
FEDERAL FARM CREDIT BANK
1,000,000 00
992,500.00
981,313.84
01124
CONS BD 3 875%29
1'000'000.00
US Government Agency Securities Total
18,000,000.00000
18,000,816.06
17,687,890.67
18,000,000.00000
3000
APPLE INC
1,000,000.00
943.200.00
945,757 31
07123
SR GLBL NT 3%27
1,000,000 00
C wpo rale Seca
rllios Total
1,000,ODO.00OOD
943,20D.00
945,757,31
1,OD0.040.00000
Total Custody Holdings
66,000,000.00000
62,773,069.99
62,366,2A732
65,000,000.00000
CITY OF
�. Federal Way
Cash Balance and Investment Positions:
FINANCE DEPARTMENT
The City's cash balance trend is shown below:
• Total cash decreased from $111.8 million to 106.6 million.
• Laddered investments increased from $64.0 million to $65.0 million.
The LGIP Investment Pool position decreased from $33.3 million to $27.8 million.
$140,000,000
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
City of Federal Way
Cash and Investments - Historical Trend
00 00 Q1 O1 Q1 C1 O O O O .--i rl ti `i N N N N m m m m
1l 17, 1- 1- 1l 1N N N N N N N N N N N N N N N N
u C a S u C a� C a� u C a-S u a-S u
O Q O Q O Q O Q O Q O
■ Investments (yield)
Benchmark and Portfolio
❑ LGIP (liquidity)
Weighted Average Maturity (WAM) of the City's
portfolio, including position in LGIP, is 606 days,
an indicator of the portfolio's exposure to
reinvestment risk as well as rate volatility. The
portfolio is within the City's Investment Policy
limit of 2.5 years or 900 days. The LGIP State Pool
WAM was 20 days in February. The City's
average maturity increased in part due to the
decrease in cash balance at the LGIP and extending
ladder out two months with purchases.
Average Yield of the City's portfolio was 3.8%,
compared to 4.5% for the 2-year Constant Maturity
Treasury index and 5.4% for the LGIP.
❑ Checking (safety)
Weighted Average Maturity Days
(City Investment Policy Maximum is 900 Days)
630
540
450
360
270
180
90
0
_c n- N- m a c v= L a
C O O < G O o< <' O a< 4 Q O c
♦LGIP WAM -o-FW WAM
Portfolio Average Yield
City Portfolio vs Benchmark vs. State Pool
F-o0o0`,
5-0000% -
4 0000`6 — - - - -- -
3-0000" --
2 0000%
10000% --
0 0000%
- - A - u $ _c - - a n _c m - �
< O 0-,- - C O p LL<- C O p-1<- Q C)p
—LGIP Avg Yield t2-yrCMT -0-FW Avg Yield
CITY OF
Federal Way
Addendum — Investment Rationale
Staff Review of Investment Rationale
Date: February 2, 2024
FINANCE DEPARTMENT
Investment # 2024-083 is a 5-year Federal Horne Loan Bank (FHLB), face value
$1,000,000, maturing December 8, 2028, purchased at 103.08 (premium) to yield
4.04%. This trade settles February 5, 2024 with Wedbush Securities, US Bank
Safekeeping, reducing the city's position in LGIP.
Liquidity: At January 316,t month -end, total city cash was $111.8 million, checking
account balance was $14.5 million (target minimum is $8 Million), investment portfolio
was $64.0 million (target is $65 million for Treasuries and Agencies). State LGIP
investment pool balance was $33.3 million (target minimum is $20 million, excluding
unspent ARPA and property acquisition of $8 million is in -process).
Safety: This purchase is a debt issue of a government -sponsored enterprise (GSE), that
carries an explicit Federal guarantee, equivalent to Aaa/AA+ rating by Moody's and S&P.
Yield. Yield is 4.04%. This investment is 3 basis point over the 5-year Treasury
benchmark. Comparable yields evaluated at time of purchase were:
LGIP current 30-dayXield 5.44% www.secureaccess.wa.gov
2-year Treasu 4.39% Bloombe .com
Same maturiq Agency None available Broker live in ui
5-vear Treasury 4.01 % 1 Bloombera.com
Callability. This investment is not callable (a bullet).
Diversification. This purchase puts this issuer at 9.2%9 of total portfolio.
This purchase adds a maturity date previously not covered to city's laddered portfolio.
Outlook. The yield curve is currently completely inverted, with peak yield around 5.51 %
at 2 month then downward sloping to 2-year at 4.39, the 5-year at 4.01 %. The Federal
Reserve Bank last executed no change in rate as uncertainty remains over inflation,
money supply and Fed moves.
Staff review:
V
Deputy Finance Director: Date l
Finance Director: Date
CITY OF
Federal Way
Staff Review of Investment Rationale
Date: February 8, 2024
FINANCE DEPARTMENT
Investment # 2024-084 is a 1-year Federal Home Loan Bank (FHLB), face value
$1,000,000, maturing February 6, 2025, purchased at 99.9 (discount) to yield 4.84%.
This trade settles February 9, 2024 with Stifel Nicolaus Co, US Bank Safekeeping,
replacing a $1 million FNMA maturity that yielded 0.73%.
Liquidity: At January 315E month -end, total city cash was $111.8 million, checking
account balance was $14.5 million (target minimum is $8 Million), investment portfolio
was $64.0 million (target is $65 million for Treasuries and Agencies). State LGIP
investment pool balance was $33.3 million (target minimum is $20 million, excluding
unspent ARPA and property acquisition of $8 million is in -process).
Safety: This purchase is a debt issue of a government -sponsored enterprise (GSE), that
carries an explicit Federal guarantee, equivalent to Aaa/AA+ rating by Moody's and S&P.
Yield. Yield is 4.84%. This investment is 9 .basis point over the 1-year Treasury
benchmark. Comparable yields evaluated at time of purchase were:
LGIP current
1- ey arTreasu
Same maturit%
5-year Treasu
eld 5.44%
4.83%
None available
1 4.11%
Callability. This investment is not callable (a bullet).
www.secureaccess.wa.gov
_Bloomberg.com
_Broker live inquiry
Bloomberg.com
Diversification. This purchase puts this issuer at 10.2% of total portfolio.
This purchase adds a maturity date previously not covered to city's laddered portfolio.
Outlook. The yield curve is currently completely inverted, with peak yield around 5.49%
at 2 month then downward sloping to 2-year at 4.44, the 5-year at 4.11%. The Federal
Reserve Bank last executed no change in rate as uncertainty remains over inflation,
money supply and Fed moves.
Staff review:
r `
g;
Deputy Finance Director: _ Date
Finance Director: Date 2" , �Z
CITY OF
Federal Way
Staff Review of Investment Rationale
Date; February 23, 2024
FINANCE DEPARTMENT
Investment # 2024-085 Is a 5-year US Treasury (T), face value $1,000,000, maturing
February 28, 2029, purchased at 99.96 (discount) to yield 4.26%. This trade settles
February 29, 2024 with Wedbush Securities, US Bank Safekeeping, replacing a $1 million
FHLB maturity that yielded 5.23%.
Liquidity: At ,January 31st month -end, total city cash was $111.8 million, checking
account balance was $14.5 million (target minimum is $8 Million), investment portfolio
was $64.0 million (target is $65 milli -on for Treasuries and Agencies). State LGIP
investment pool balance was $33.3 million (target minimum is $20 million, excluding
unspent ARPA and property acquisition of $8 million is in -process).
Safety: This purchase is a debt issue of the Federal government, equivalent to Aaa/AA+
rating by Moody's and S&P.
Yield. Yield is 4.26%. This investment is the 5-year Treasury benchmark. Comparable
yields evaluated at time of purchase were:
LGIP current 30-day yield 5.42% www.secureaccess.wa.
2-year Treasury 4.69% Bloomber .com
Same maturity Agency 4.25 Broker live inquiry
5-year Treasury 4.26% I Bloombera.com
Callability. This investment Is not callable (a bullet).
Diversification. This purchase puts this issuer at 46.8% of total portfolio.
This purchase adds a maturity date previously not covered to city"s laddered portfolio,
Outlook. The yield curve is currently completely inverted, with peak yield of 5.51 % at 2
months then downward sloping to 2-year at 4.69, the 5-year at 4.26%. The Federal
Reserve Bank last executed no change in rate as uncertainty remains over inflation,
money supply and Fed moves.
Staff review:
Deputy Finance Director: Date
Finance Director: Date
7c
COUNCIL MEETING DATE: April 2, 2024 ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
SUBJECT: AP VOUCHERS 02/17/2024 — 03/15/2024 AND PAYROLL VOUCHERS 02/01/2024 — 02/29/2024
POLICY QUESTION: Should the Council approve the AP vouchers in the total amount of $3,633,185.02 and the
payroll vouchers in the total amount of $4,423,105.09?
COMMITTEE: FINANCE, ECONOMIC DEVELOPMENT AND REGIONAL MEETING DATE: March 26,2024
AFFAIRS COMMITTEE
CATEGORY:
® Consent ❑ Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Steve Groom, Finance Director DEPT: Finance
I, the undersigned, do hereby certify under penalty of perjury that the materials have been furnished, the services
rendered, or the labor performed as described herein and that the claims are just and due obligations against the
City of Federal Wa , Washington, and that I am authorized and certify said liens
?Kin ce Director
ttachments: Voucher List
Options Considered:
MAYOR'S RECOMMENDATION:
MAYOR APPROVAL: I� C7
k.omrnittcl '/ e . t,louncii 4
InitiaUDate InitiaUDate
COMMITTEE RECOMMENDATION: I move to forward the
approval. _
1, FJI
Comn4fte'e*el
DIRECTOR APPROVAL:
7
17aic
to the April 2, 2024 consent agenda for
c 1,L
Committee Member
PROPOSED COUNCIL MOTION: "I move approval of the vouchers pursuant to RCW 42.24.
(BELOW TO BE COMPLETED BY CITY CLERIC'S OFFICE
COUNCIL ACTION:
❑
APPROVED
COUNCIL BILL #
❑
DENIED
First reading
❑
TABLED/DEFERRED/NO ACTION
Enactment reading
❑
MOVED TO SECOND READING (ordinances only)
ORDINANCE #
REVISED
— 1/2022
RESOLUTION #
CITY OF
Federal Way
Date: March 19, 2024
To: Steve Groom, Finance Director
Chase Donnelly, Deputy Finance Director
From: David Liang, Sr. Financial Analyst
Subject: Monthly Disbursements Summary
The monthly Accounts Payable (AP) and Payroll vouchers report is attached.
Finance Department
February disbursements had a decrease from January's expenditures due to lower spending on
association dues, computer hardware, construction projects, repairs & maintenance, and
transportation equipment. Payroll fluctuations from month to month are largely dependent on
hiring and filling open positions, temporary help and termination payouts.
The following summarizes current and prior 2 months' disbursements for reasonableness
comparison.
AP voucher totals:
• February
$3,633,185.02
Computer Hardware
104,871
(p. 4)
Consulting contracts
412,442
(p. 6)
Fire Department Permit
163,286
(p. 12)
Jail Services total
450,610
(p. 15)
Operating Rentals/Leases
117,333
(p. 24)
Professional Services
880,090
(p. 31)
Repairs & Maintenance
138,607
(p. 39)
Transportation Equipment
312,723
(p. 45)
■ January
$5,820,840.51
■ December
$6,102,208.36
Payroll voucher totals:
• February $4,423,105.09
• January $4,338,167.84
• December $6,352,689.00
City of Federal Way - Accounts Payable Check List
Key Bank
Page 1 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
ACCOUNT PAYABLE-ESCOM
$349.90
290430
3/15/2024
TIGGER TECH,
2/22/2024
65789
$349.90
DBC-REFUND DAMAGE DEPOSIT
ADVERTISING
$581.34
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$111.69
FWCC-MONTHLY DUES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$310.00
PARKS -AD ART EXPLOSION
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$159.65
FWCC-MONTHLY DUES
AIRFARE
$5,866.03
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$416.20
PD-AIR FAR E
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$196.98
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$196.98
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$1,316,20
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$1,316.20
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$1,316.20
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$196.98
MO -AIRLINE TICKETS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$-99.60
CD -REFUND AIRFARE
290433
3/15/2024
TRAN, HOANG
3/6/2024
TRAN 2024
$415.60
CC -AIRFARE
290451
3/15/2024
WALSH, JACK
1/29/2024
WALSH 2O24 REISSUE
$594 29
CC -TRAVEL EXPENSE REIMB
ANIMAL LICENSE
$8.00
290174
2/29/2024
RANKIN, KURT
2/9/2024
RANKIN 2024
$6.00
PD-REPL TAG REFUND
290151
2/29/2024
NEWTON, AHNISSA
2/9/2024
P0044834879
$2.00
PD-REFUND REPLACEMENT TAG
ASPHALT & ROAD OIL
$2,254.34
290130
2/29/2024
LAKESIDE INDUSTRIES INC,
1/20/2024
258357
$2,254.34
PWST-REPAIR SUPPLIES
ASSOCIATION DUES
$4,811.00
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$110.00
CD-BLDG DEPT CERT RENEWALS
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$50.00
PD-ASSOCIATION DUES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$3,500.00
PD-ASSOCIATION DUES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$40.00
PD-ASSOCIATION DUES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$75.00
PD-ASSOCIATION DUES
Key Bank Page 2 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
225243793
2/25/2024
US BANK,
2/2512024
JAN 2024 PD VISA
$120 00
PD-ASSOCIATION DUES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$120 00
PD-ASSOCIATION DUES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$50 00
PD-ASSOCIATION DUES
290372
3/15/2024
NIVEN, KEITH
3/4/2024
NIVEN 2024
$746 00
CD -MEMBERSHIP FEES REIMB
ATHLETIC SUPPLIES
$385.05
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$385.05
FWCC-MINOR EQUIP
AUTOMATION
FEE
$41.00
290386
3/15/2024
PRIME ELECTRIC INC,
2/8I2024
24-100524
$41 00
CD-24-100524 PERMIT REFUND
BOOKS, MAPS, & PERIODICALS
$508.96
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$5.95
PD-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$330.30
CD -TRAINING BOOKLET
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$15.99
MO -NEWS SUBSCR
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$8.81
MO -NEWS SUBSCR
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$147.91
MO -NOTARY BOND & SUPPLIES
CELLULAR PHONE AIR TIME
$16,194.65
290217
2/29/2024
VERIZON WIRELESS,
2/13/2024
9956665215
$6,643.21
IT-02/24 CELLULAR SVC ACCT#
290217
2/29/2024
VERIZON WIRELESS,
2/13/2024
9956665215
$6.643.21
IT-02/24 CELLULAR SVC ACCT#
290087
2/29/2024
AT&T MOBILITY,
2/5/2024
287290386709X0213202
$1,292.13
IT/PWST-01/24 DATA CARDS
290431
3/15/2024
T-MOBILE USA INC,
2/23/2024
9560802051
$25.00
PD-TIMING ADVANCE
290256
3/15/2024
AT&T MOBILITY,
3/5I2024
287290386709X0313202
$1,279.99
I T/PWST-01 /24 DATA CARDS
290441
3/15/2024
VERIZON WIRELESS,
2/13/2024
9956665216
$155.55
IT-01/24 CELLULAR SVC ACCT#
290441
3/15/2024
VERIZON WIRELESS,
2/13/2024
9956665216
$155.56
IT-01/24 CELLULAR SVC ACCT#
CLOTHING AND
FOOTWEAR
$7,610.43
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$128.79
CD -OFFICE SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$104.54
CD -UNIFORM SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$860,32
FWCC-LIFEGUARD SHIRTS
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$432.10
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$304.98
PD-CLOTHING
Key Bank Page 3 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$218.12
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$68.32
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$171.12
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$181.12
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$291.17
• PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$461.27
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$209,32
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$262.94
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$13 20
CD -CODE COMPLIANCE
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$277.18
PW-RAIN GEAR
290076
2/29/2024
911 SUPPLY INC,
2/20/2024
INV-2-35896
$404.02
PD-UNIFORM SUPPLIES
290106
2/29/2024
FIRST RESPONDER OUTFITTE1/24/2024
202401FR110
$586.80
PD-UNIFORM/EQUIP
290075
2/29/2024
911 SUPPLY INC,
2/6/2024
INV-2-35635
$456.47
PD-UNIFORM SUPPLIES
290155
2/29/2024
OK, STEVEN
2/8/2024
OK 2024
$200-00
PD-BOOT ALLOWANCE
290075
2/29/2024
911 SUPPLY INC,
2114/2024
INV-2-35780
$112.29
PD-UNIFORM SUPPLIES
290166
2/29/2024
PON, KEITH
2/21/2024
PON 2024
$187.33
PD-UNIFORM ALLOW
290242
3/15/2024
911 SUPPLY INC,
3/1/2024
INV-2-36207
$27 42
PD-UNIFORM SUPPLIES
290242
3115/2024
911 SUPPLY INC,
2/21/2024
INV-2-35954
$224.58
PD-UNIFORM SUPPLIES
290312
3/15/2024
GCP WW HOLDCO LLC, WOR026/2024
INV2070005240
$178.67
PKM-UNIFORM SUPPLIES
290306
3/15/2024
FIRST RESPONDER OUTFITTE2/28/2024
2354-3
$532.75
PD-UNIFORM/EQUIPMENT
290242
3/15/2024
911 SUPPLY INC,
2/28/2024
INV-2-36160
$553.78
PD-UNIFORM SUPPLIES
290242
3/15/2024
911 SUPPLY INC,
2/28/2024
INV-2-36161
$161.83
PD-UNIFORM SUPPLIES
COMMUNICATIONS
$1,379.73
290218
2/29/2024
VERIZON WIRELESS,
2/10/2024
9956387133
$25.02
PWST-LIGHT PROJECT
290082
2/29/2024
AMERICALLCOMM UNICATIOf2(7/2024
116817240207
$164.81
SWM/PWST/CHB-CALL CENTER SVC
290082
2/29/2024
AMERICALLCOMMUNICATIOMr7/2024
116817240207
$164.82
SWM/PWST/CHB-CALL CENTER SVC
Key Bank
Page 4 of 48
_Check No.
Date
Vendor
Invoice Date
Invoice _
Description
AmountGLTotal
290082
2/29/2024
AMERICALL COMM U N
ICATIOI�2/7/2024
116817240207
$16482
SWM/PWST/CHB-CALL CENTER SVC
290090
2/29/2024
CENTURYLINK,
2/4/2024
206-Z04-0609 472B
$47.16
IT-02/24 PHONE SERVICES
290090
2/29/2024
CENTURYLINK,
2/4/2024
206-Z04-0609 472B
$271 15
IT-02/24 PHONE SERVICES
290090
2/29/2024
CENTURYLINK,
2/4/2024
206-Z04-0609472B
$271.15
IT-02/24 PHONE SERVICES
290087
2/29/2024
AT&T MOBILITY,
2/5/2024
287290386709X0213202
$135.40
IT/PWST-01/24 DATA CARDS
290256
3/15/2024
AT&T MOBILITY,
3/5/2024
287290386709X0313202
$135.40
IT/PWST-01 /24 DATA CARDS
COMPUTER HARDWAREIEQUIPMENT
$104,871.36
290234
2/29/2024
ZONES LLC,
2/5/2024
K22067990114
$15,887.65
IT- CISCO CORE NETWORK UPGRAD
290234
2/29/2024
ZONES LLC,
2/5/2024
K22067990113
$13,206.45
IT - CISCO CORE NETWORK UPGRAD
290233
2/29/2024
ZONES LLC,
1/24/2024
K21947340107
$18,532.44
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
1/24/2024
K21947340107
$1,871.78
Sales Tax
290233
2/29/2024
ZONES LLC,
1/18/2024
K22067990110
$1,793.44
IT -CISCO CORE NETWORK UPGRAD
290233
2/29/2024
ZONES LLC,
1/18/2024
K22067990110
$2,128.88
Sales Tax
290233
2/29/2024
ZONES LLC,
1/18/2024
K22067990110
$19,284.60
IT-CISCO CORE NETWORK UPGRAD
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340112
$995.37
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340112
$100.53
Sales Tax
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340113
$503 41
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340113
$182.61
IT- CISCO WEBEX ACCESSORIES--
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340113
$69.29
Sales Tax
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340114
$4,071.39
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340114
$540.00
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340114
$462.18
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340114
$512.43
Sales Tax
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340115
$2,055.22
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340115
$180.00
IT- CISCO WEBEXACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340115
$154,06
IT- CISCO WEBEX ACCESSORIES-
Key Bank Page 5 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340115
$1,465.76
IT- CISCO WEBEX ACCESSORIES-
290233
2/29/2024
ZONES LLC,
2/15/2024
K21947340115
$389.36
Sales Tait
290234
2/29/2024
ZONES LLC,
1/23/2024
K21947340105
$5,169.89
IT- CISCO WEBEXACCESSORIES-
290234
2/29/2024
ZONES LLC,
1/23/2024
K21947340106
$3,158.49
IT- CISCO WEBEXACCESSORIES-
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$2,979.84
IT-PW COMPUTER WORKSTATION FOR
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$26-03
IT-PW COMPUTER WORKSTATION FOR
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$320.64
IT-PW COMPUTER WORKSTATION FOR
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$63.21
IT-PW COMPUTER WORKSTATION FOR
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$134,08
IT-PW COMPUTER WORKSTATION FOR
290288
3/15/2024
DELL MARKETING LP,
2/26/2024
10733408416
$355.89
Sales Tax
290462
3/15/2024
ZONES LLC,
2/26/2024
K22244280101
$6,783.28
IT- UPS EQUIPMENT FOR GAC ROO
290462
3/15/2024
ZONES LLC,
2/26/2024
K22244280101
$529.38
IT- UPS EQUIPMENT FOR GAC ROO
290462
3/15/2024
ZONES LLC,
2/26/2024
K22244280101
$204.54
IT- UPS EQUIPMENT FOR GAC ROO
290462
3/15/2024
ZONES LLC,
2/26/2024
K22244280101
$759.24
Sales Tax
COMPUTER SOFTWARE -MAJOR
$6,000.00
290309
3/15/2024
FREELOCK LLC,
2/29/2024
9731
$6.000 00
IT-AG24-010 CITY WEBSITE UPGRA
CONCEAL PISTOL LIC-NEW-CITY
$18.00
290399
3/15/2024
ROS, VEASNA
2/28/2024
003-00104349
$18.00
PD-REFUND FEES
CONCEAL PISTOL LIC-RENEW-CITY
$14.00
290265
3/15/2024
BURR, JAMAR
2/27/2024
003-00104454
$14.00
PD-CPL REFUND
CONCEALED PISTOL LIC - FBI
$437.25
290399
3/15/2024
ROS, VEASNA
2/28/2024
003-00104349
$13.25
PD-REFUND FEES
290450
3/15/2024
WA STATE PATROL,
3/1/2024
112404895
$424.00
PD-BACKGROUND CHECKS
CONCEALED PISTOL LIC - STATE
$2,187.00
290399
3/15/2024
ROS, VEASNA
2/28/2024
003-00104349
$18.00
PD-REFUND FEES
290448
3/15/2024
WA STATE DEPT OF LICENSIWJ29/2024
02/29/2024 CPL
FEES
$2,151'.00
PD-02/29/2024 CPL FEES
290265
3/15/2024
BURR, JAMAR
2/27/2024
003-00104454
$18.00
PD-CPL REFUND
CONFERENCE/SEMINAR REGISTRATI(
$11,604.32
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$105 00
FWCC-LGI COURSE
Key Bank Page 6 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGLTotal
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$15,42
PARKS -CONFERENCE
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$2.642,40
MO-ARPA CONFERENCE
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$460.00
MC-APPA CONFERENCE
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$-120.00
CD-BLDG TRAINING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$485.00
PD-CONF REGISTRATION
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$230.00
FWCC-CERTIFICATION
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$25.50
PD-CONF REGISTRATION
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$150.00
PD-TRAINING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$561,00
PD-CONF REGISTRATION
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$173,00
PD-CONF REGISTRATION
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$375.00
PD-CONF REGISTRATION
290221
2/29/2024
WA STATE CRIMINAL JUSTICE2/5/2024
201139104
$4,947 00
PD-TRAINING SVCS
290325
3/15/2024
HECOX, MIKE
2/20/2024
HECOX 2024
$305.00
CD-WSP EXAM
290426
3/15/2024
THOMAS F OVENS,
2/8/2024
2/8/2024
$1,250.00
PD-POLICE TRAINING SOLUTIONS
CONSTRUCTION PROJECTS
$2,188.98
290108
2/29/2024
G&N SEPTIC TANK SERVICE
L1/8/2024
42303
$662.72
PW-ASBESTOS SURVEY FOR COFW JO
290108
2/29/2024
G&N SEPTIC TANK SERVICE
L1/8/2024
42303
$66.94
Sales Tax
290108
2/29/2024
G&N SEPTIC TANK SERVICE
L1/8/2024
42304
$662.72
PW-SEPTIC TANK PUMPING SERVICE
290108
2/29/2024
G&N SEPTIC TANK SERVICE
1-1/80024
42304
$66.94
Sales Tax
290108
2/29/2024
G&N SEPTIC TANK SERVICE
1-1/80024
42305
$662.72
SEPTIC TANK PUMPING SERVICE PR
290108
2/29/2024
G&N SEPTIC TANK SERVICE
L1/8/2024
42305
$66.94
Sales Tax
CONSULTING
CONTRACTS
$412,441.68
290114
2/29/2024
HELIX DESIGN GROUP INC,
1/31?2024
a23-08701312024
$253,718.72
PW-AG20-925 OPT & MAINT FACILI
290160
2/29/2024
PARAMETRIX INC,
2/9/2024
52851
$4,998.91
PW-CITY CENTER ACCESS AG17-134
290159
2/29/2024
PARAMETRIX INC,
2/19?2024
53174
$24.849.87
PW-AG24-020 CITY CTR ACC PRJ P
290115
2/29/2024
HIGHLINE COLLEGE,
2/1312024
MSC-0000025635
$24.000.00
MOED-AG24-016 HIGHLINE COLLEGE
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/3/2024
202410020
$1.020.00
PV%LASBESTOS SURVEY FOR COFW JO
Key Bank Page 7 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/3/2024
202410021
$860 00
PW-ASBESTOS SURVEY FOR COFW JO
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/3/2024
202410022
$920 00
PW-ASBESTOS SURVEY FOR COFW JO
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/30/2024
202410498
$980.00
PW-ASBESTOS SURVEY FOR COFW JO
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/30/2024
202410499
$860 00
PW-ASBESTOS SURVEY FOR COFW JO
290085
2/29/2024
ASBESTOS NORTHWEST LLC,1/30/2024
202410500
$860 00
PW-ASBESTOS SURVEY FOR COFW JO
290080
2/29/2024
AHBL INC, 1/31/2024
143589
$110.00
CD-AG20-555 EVALUATION OF LAND
290228
2/29/2024
WEST COAST CODE CONSUU2/2/2024
UT24-FED-001
$675.00
CD-AG19-070 BUILDING DIVISION
290207
2/29/2024
TIERRA RIGHT OF WAY SRVC2/5/2024
2400145
$42.899.53
PW-AG23-130 JOINT OPERATIONS &
290349
3/15/2024
KPG INC, 4/18/2023
195157
$3.129.00
PW-AG21-195 ON -CALL PLAN REVIE
290344
3/15/2024
KING COUNTY FINANCE DIV0/31/2024
131739-131744,131865
$1,835.91
PWTR/PW-RSD PJ#131739-131744,1
290374
3/15/2024
OTAK INC, 2/29/2024
000022400375
$13,987.18
CD-AG22-050 SOUTH STATION SUBA
290434
3/15/2024
TRANSPO GROUP USA INC, 2/21/2024
32111
$5,459.05
MC-AG22-117 SR99 @ S 373RD ST
290348
3/15/2024
KPG INC, 4/17/2023
195082
$8,531.50
PW-AG21-195 ON -CALL PLAN REVIE
290434
3/15/2024
TRANSPO GROUP USA INC, 2/8/2024
31991
$526.16
PW-AG17-128 CITYWIDE ADAPTIVE
290348
3/15/2024
KPG INC, 2/21/2024
205387
$6,936.00
PW-AG21-195 ON -CALL PLAN REVIE
290352
3/15/2024
LANDAU ASSOCIATES INC, 2/29/2024
0057338
$1,522.50
CD-AG19-156 THIRD PARTY WETLAN
290250
3/15/2024
AHBL INC, 1/31/2024
143671
$11,700.00
PW-AG23-209 JOINT OPER & MAINT
290347
3/15/2024
KPFF INC, KPFF CONS U LTI NG2/12/2024
506050
$698 75
PW-AG21-173 27TH AVE SWAT SW
290403
3/15/2024
SCJ ALLIANCE, 2/12/2024
75403
$1,363.50
PW-AG23-103 S 320TH GRADE SEPA
COPIER & PRINTER
SUPPLIES
$2,483.90
290089
2/29/2024
CAFFE D'ARTE LLC, 2/13/2024
545693
$60.92
HR-COFFEE SUPPLIES
290095
2/29/2024
COPIERS NORTHWEST INC, 2/13/2024
INV2779946
$218.74
IT-AG21-019 PRINTER/COPIER MAI
290089
2/29/2024
CAFFE D'ARTE LLC, 2/19/2024
546031
$73.53
HR-COFFEE SUPPLIES
290282
3/15/2024
COPIERS NORTHWEST INC, 2/29/2024
INV2787334
$387.08
IT-AG21-019 PRINTER/COPIER MAI
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271083-0
$76.65
HR-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271084-0
$229.95
HR-OFFICE SUPPLIES
Key Bank
Page 8 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271085-0
$153 30
HR-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271086-0
$229.95
HR-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271087-0
$383,26
HR-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271088-0
$76.65
HR-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/28/2024
2271089-0
$309.67
HR-OFFICE SUPPLIES
290282
3/15/2024
COPIERS NORTHWEST INC, 2/27/2024
INV2785465
$56.99
IT-AG21-019 PRINTER/COPIER MAI
290282
3/15/2024
COPIERS NORTHWEST INC, 2/27/2024
INV2785466
$227.21
IT-AG21-019 PRINTER/COPIER MAI
CORPORATIONS -GENERAL
$51.00
290300
3/15/2024
ESTEP CONSULTING LLC, 8/30/2023
08/30/23 REISSUE
$51.00
CD -BUSINESS LICENSE REFUND
CPL LAMINATION
$10.00
290399
3/15/2024
ROS, VEASNA 2/28/2024
003-00104349
$5.00
PD-REFUND FEES
290265
3/15/2024
BURR, JAMAR 2/27/2024
003-00104454
$5.00
PD-CPL REFUND
CUSTODIAL & CLEANING
$21.742.72
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/21/2024
5120415199
$28 58
PKFWCC-LINEN SVC
290183
2/29/2024
SECURITAS TECHNOLOGY CC2/1/2024
6003912022
$92 78
CHB-MAINT SVCS STEEL LAKE WOOD
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/13/2024
5120409924
$118.91
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/13/2024
5120409925
$318 74
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE1/30/2024
5120401492
$118.91
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE1/30/2024
5120401493
$290.66
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/6/2024
5120405743
$118.91
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/6/2024
5120405744
$290.66
PKDBC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/7/2024
5120406737
$28.58
PKFWCC-LINEN SVC
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/7/2024
5120406738
$41.84
PKFWCC-LINEN SVC
290188
2/29/2024
SMS CLEANING, 2/17/2024
FEDWAY-0224
$11,984.04
CHB/PKM-AG20-,022 JANITORIAL SV
290183
2/29/2024
SECURITAS TECHNOLOGY CC2/1/2024
6003905690
$215 32
CHB-MAINT SVCS STEEL LAKE BEAC
290183
2/29/2024
SECURITAS TECHNOLOGY CC2/1/2024
6003914617
$150.55
CHB-MAINT SVCS CELEBRATION PAR
290083
2/29/2024
ARAMARK UNIFORM SERVICE2/21/2024
5120415200
$41.84
PKFWCC-LINEN SVC
Key Bank
Page 9 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290176
2/29/2024
REGENCY CLEANERS, DBA: f1/31/2024
1427
$844.08
PD-AG21-017 PD DRY CLEANING SR
290254
3/15/2024
ARAMARK UNIFORM SERVICE2/27/2024
5120418453
$118.91
DBC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE2/27/2024
5120418454
$318.74
DBC-LINEN SVC
290398
3/15/2024
REGENCY CLEANERS, DBA: f2/29/2024
1467
$853.75
PD-AG21-017 PD DRY CLEANING SR
290268
3/15/2024
CEDAR BUILDING SERVICE IN3/1/2024
53542
$4.821.20
DBC-AG19-170 JANITORIAL & HOUS
290254
3/15/2024
ARAMARK UNIFORM SERVICE2/20/2024
5120414230
$118,91
DBC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE2/20/2024
5120414231
$318.74
DBC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE3/5/2024
5120422704
$118,91
DBC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE3/5/2024
5120422705
$318.74
DBC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE3/6/2024
5120423663
$28,58
FWCC-LINEN SVC
290254
3/15/2024
ARAMARK UNIFORM SERVICE3/6/2024
5120423664
$41.84
FWCC-LINEN SVC _
DEF REV-FWCC-REC TRAC
$226.25
290262
3/15/2024
BLANCHETTE. DIANA L 3/1/2024
1164854
$226 25
PW-DEPOSIT REFUND
DEF REV-GEN
REC-REC TRAC
$39.00
290259
3/15/2024
BEAUDOIN, PHYLLIS 2/21/2024
1156867
$39.00
PW-DEPOSIT REFUND
DEPOSITIBONDS
PAYABLE-PW
$20,380.79
290240
3/15/2024
7-11 SOUTHLAND CORP, 1/26/2024
02-51705
$720.00
PW-REFUND DEPOSIT #02-51705
290241
3/15/2024
8TH & 9TH LLC, 1/26/2024
02-67136
$1,172.00
PW-REFUND DEPOSIT#02-67136
290368
3/15/2024
N WARCHITECTURE, 1/26/2024
04-102525
$612.00
PW-REFUND PERMIT 13-102954
290297
3/15/2024
ENVIRONMENTAL RESOLUTIC2/5/2024
04-103013
$313.00
PW-DEPOSIT REFUND
290285
3/15/2024
DAVID'S FEDERAL WAY LLC, 2/5/2024
05-105690
$1,282.56
PW-DEPOSIT REFUND
290292
3/15/2024
EAGLE CREEK LAND & DEV. 1-2/5/2024
12-105436
$2,165.30
PW-DEPOSIT REFUND
290346
3/15/2024
KIRK, VANZELL JR 1/26/2024
06-101033
$64.37
PW-REFUND DEPOSIT#06-101033
290329
3/15/2024
HOMES, NORRIS 1/26/2024
06-102066
$2,466.00
PW-DEPOSIT REFUND
290377
3/15/2024
PALISADES HOLDINGS INC., 1/26/2024
08-103856
$581.34
PW-REFUND DEPOSIT#02-76386
290328
3/15/2024
HOMES BY LANDMARK INC. 1/26/2024
10-105147
$1,915 80
PW-DEPOSIT REFUND
290286
3/15/2024
DEACON CONSTRUCTION LL(1/26/2024
11-105022
$1,872.00
PW-DEPOSIT REFUND
Key Bank Page 10 of 48
Check No,
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290396
3/15/2024
RATTER, PIOTR 1/26/2024
13-102954
$25712
PW-REFUND PERMIT 13-102954
290360
3/15/2024
MCARTHUR, BONNIE 1/26/2024
14-102054
$76430
PW-REFUND PERMIT 14-102054
290395
3/15/2024
RAINIER ASPHALT, 1/26/2024
17-102434
$525.00
PW-DEPOSIT REFUND
290384
3/15/2024
POWELL RENOVATIONS LLC, 1/26/2024
18-100164
$5,670 00
PW-DEPOSIT REFUND
ELECTRICAL PERMITS
$2,224.33
290112
2/29/2024
GREENWOOD HEATING&A/C1/12/2024
24-10016923-105685
$18275
CD-24-100169 23-105685 PERMIT
290386
3/15/2024
PRIME ELECTRIC INC, 2/8/2024
24-100524
$18824
CD-24-100524 PERMIT REFUND
290334
3/15/2024
J & ART CONTRACTORS LLC, 2/2/2024
22-104807
$362.39
CD-22-104807 PERMIT REFUND
290364
3/15/2024
MOTT, SARAH 2/9/2024
24-100270
$675.14
CD-24-100270 PERMIT REFUND
290313
3/15/2024
GLENDALE HEATING &A/C, 2/14/2024
23-102039
$63.39
CD-23-102039 PERMIT REFUND
290380
3/15/2024
PERMIT CENTER, 2/28/2024
24-100784
$72,20
CD-24-100784 PERMIT REFUND
290443
3/15/2024
VIGIL, MARK 3/1/2024
24-100705 24-100780
$385.83
CD-24-100705 24-100780 PERMIT
290253
3/15/2024
ANBESSO, ABIY 2/29/2024
24-100861
$72.20
CD-24-100861 PERMIT REFUND
290427
3/15/2024
THOMPSON,MELISSA 1/23/2024
004-14319,
$222.19
PD-REFUND EVIDENCE FUNDS 004-1
ELECTRICITY
$60,074.00
290171
2/29/2024
PUGET SOUND ENERGY INC, 1/23/2024
220034421952
$14 70
PKM-01/23 2410 S 312TH ST
290171
2/29/2024
PUGET SOUND ENERGY INC, 1/23/2024
220034421960
$14.70
PWST-12/23 2645 S 312TH ST ELE
290171
2/29/2024
PUGET SOUND ENERGY INC, 1/12/2024
220014198398
$13.02
PKM-01/24 2645 S 312TH ST ELEC
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/12/2024
220014198398
$18.63
PKM-01/24 2645 S 312TH ST ELEC
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/12/2024
220025635438
$153 53
PKM-01/24 31132 28TH AVE S
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/12/2024
220030875599
$740,42
PKM-01/24 2410 S 312TH ST
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/14/2024
220003675349
$15.49
PKM-01/24 726 S 356TH ELECTRIC
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/14/2024
220018358782
$12.42
PKM-01/24 550 SW CAMPUS DR #P1
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/14/2024
220027462302
$51.45
SWM-01/24 34016 9TH AVE S #X14
290171
2/29/2024
PUGET SOUND ENERGY INC, 1/29/2024
300000007322
$13,603.00
PWTR-01/24 PSE ELECTRICITY CHG
290171
2/29/2024
PUGET SOUND ENERGY INC, 2/9/2024
220028947798
$26.045.04
PWTR-01/24 PWTR STREETLIGHTS
290422
3/15/2024
TACOMA PUBLIC UTILITIES, 1/19/2024
101181223
$32.08
PWTR-11/14/23-1/17/24 1909 SW
Key Bank Page 11 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/29/2024
300000007322
$12.591.94
PWTR-02/24 PSE ELECTRICITY CHG
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/23/2024
220034421952
$14 70
PWTR-02/24 2410 S 312TH ST
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/23/2024
220034421960
$14.70
PWTR-02/24 2645 S 312TH ST ELE
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/14/2024
220031212834
$107.58
PWTR-01/24 1336 S 336TH ST
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/14/2024
220034030399
$36.28
PWTR- 01/24 31816 47TH AVE SW#
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/15/2024
220030838597
$37.11
PWTR- 01/24 4451 SW 313TH ST #
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/9/2024
300000009526
$4,127.01
PWTR-01/24 PWTR STREETLIGHTS
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/12/2024
220030037323
$96 13
PWTR-01/24 1921 S 302ND ST
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/12/2024
220031180106
$63 87
PWTR-01/24 31910 GATEWAY CENTE
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/12/2024
220031767019
$110.68
PWTR-01/24 31701 23RD AVE S
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/13/2024
220028151383
$125.24
PWTR-1/24 34404 16TH AVE S
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/13/2024
220028560633
$21.80
PWTR-01/24 34701 11TH PL S
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/13/2024
220031075421
$51.16
PWTR-01/24 1688 S 348TH ST# LI
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/13/2024
220031075454
$110.35
PWTR-01/24 36201 ENCHANTED PKW
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/3/2024
300000009526
$1,235.21
PWTR-01/24 PWTR STREETLIGHTS
290392
3/15/2024
PUGET SOUND ENERGY INC, 1/17/2024
220034030399
.
$41.53
PWTR-01/24 31910 GATEWAY CENTE
290392
3/15/2024
PUGET SOUND ENERGY INC, 12/15/2023
220034030399
$40.81
PWfR- 12/23 31816 47TH AVE SW#
290392
3/15/2024
PUGET SOUND ENERGY INC, 1/18/2024
220030838597
$42.51
PWTR- 01/23 4451 SW 313TH ST #
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/12/2024
220031179967
$37.80
PWTR-02/24 3014 S 320TH ST #LI
290392
3/15/2024
PUGET SOUND ENERGY INC, 1/12/2024
220031179967
$36.38_
PWTR-01124 3014 S 320TH ST #LI
290392
3/15/2024
PUGET SOUND ENERGY INC, 10/10/2022
300000007322
$355.07
PWTR-10/22 PSE ELECTRICITY CHG
290392
3/15/2024
PUGET SOUND ENERGY INC, 2/13/2023
220031179041
$61.66
PWiR-01/24 35700 ENCHANTED PKW
EVIDENCE FUNDS
290458 3/15/2024 WHEELER, JEREMYALAN 1/26/2024 001-96253
290338 3/15/2024 JOHNSON, JENNIFER 1/8/2024 001-96230
290339 3/15/2024 JOHNSON, MICHAELJR 1/8/2024 001-96231
PD-REFUND EVIDENCE FUNDS 001-9
PD-REFUND EVIDENCE FUNDS 001-9
PD-REFUND EVIDENCE FUNDS 001-9
$11,767.88
$100.00
$65.00
$225.00
Key Bank
Page 12 of 48
Check No. Date Vendor Invoice Date Invoice Descriotion AmountGL Total
290271
3/15/2024
CHU, TOMY LEE
1/8/2024
001-96234
$40.00
PD-REFUND EVIDENCE FUNDS 001-9
290439
3/15/2024
VARGAS, JOHN
1/18/2024
001-67253
$9,310.00
PD-REFUND EVIDENCE FUNDS 001-6
290457
3/15/2024
WHEELER, DEANNA RANKIN 1/18/2024
001-96253
$1,510.00
PD-REFUND EVIDENCE FUNDS 001-9
290267
3/15/2024
CARLMAN, JEREMY DAVID
1/18/2024
001-96258
$210.00
PD-REFUND EVIDENCE FUNDS 001-9
290264
3/15/2024
BROWN, TRISTAN
1/18/2024
001-96259
$10 00
PD-REFUND EVIDENCE FUNDS 001-9
290299
3/15/2024
ESPINOZA, RICARDO MENDICl/18/2024
001-96261
$5 86
PD-REFUND EVIDENCE FUNDS 001-9
290409
3/15/2024
SHANNON, SUSAN KAY
1/18/2024
001-96266
$212.02
PD-REFUND EVIDENCE FUNDS 001-9
290359
3/15/2024
MATHES, LAURIEANNE
1/18/2024
001-96281
$80.00
PD-REFUND EVIDENCE FUNDS 001-9
FIRE DEPARTMENT PERMIT
290193
2/29/2024
SOUTH KING FIRE & RESCUE2/16/2024
3RD & 4TH QTR 2023
$163.286.49
CD-3RD & 4TH QTR 2023 REMIT P
FIRST CLASS
POSTAGE
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762134
$162.16
FI-PITNEY BOWES POSTAGE DEPOSI
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762133
$1,611.98
FI-PITNEY BOWES POSTAGE DEPOSI
290165
2/29/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597561
$1,042.06
FI-PITNEY BOWES POSTAGE DEPOSI
290102
2/29/2024
FEDERAL EXPRESS CORPOR2/16/2024
8-410-33356
$7.37
IT -DOCUMENTS EXPRESS DELIVERY
290382
3/15/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597562
$224.14
FI-PITNEY BOWES POSTAGE DEPOSI
FOOD & BEVERAGE
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$14 47
MO -COFFEE AND TEA SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$79.96
MO -SNACKS FINANCE CLASS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$21.00
FI-GFOA MEETING MEALS
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$7 24
PD-FOOD SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$173.54
PARKS -TRIP TICKET
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$104 51
PARKS-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$47 96
PD-FOOD SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$92 39
PD-FOOD SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$75.62
PD-FOOD SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$56 48
PD-FOOD SUPPLIES
$163,286.49
$3,047.71
$4,099.53
Key Bank Page 13 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$50.11
PD-FOOD SUPPLIES
290213
2/29/2024
US FOODS INC,
2/13/2024
5265483
$75.02
DBC-CATERING SUPPLIES
290213
2/29/2024
US FOODS INC,
2/12/2024
5226201
$705.20
DBC-CATERING SUPPLIES
290214
2/29/2024
US FOODS INC,
2/6/2024
5085014
$36.15
DBC-CATERING SUPPLIES
290214
2/29/2024
US FOODS INC,
2/8/2024
5930353
$-3.34
DBC-CATERING SUPPLIES
290214
2/29/2024
US FOODS INC,
2/7/2024
5115380
$31.87
DBC-CATERING SUPPLIES
290394
3/15/2024
QUENCH, INC,
3/1/2024
INV07059208
$146 03
DBC-DRINKING WATER SVC
290266
3/15/2024
CAFFE D'ARTE LLC,
3/4/2024
547183
$40.00
HR-COFFEE SUPPLIES
290365
3/15/2024
MOUNTAIN MIST WATER,
9/14/2023
005595854
$38 05
PD-WATER SVC ACCT#077665
290437
3/15/2024
US FOODS INC,
3/4/2024
5755722
$671.91
DBC-CATERING SUPPLIES
290365
3/15/2024
MOUNTAIN MIST WATER,
2/28/2024
005874434
$1.36
PD-WATER SVC ACCT#077665
290437
3/15/2024
US FOODS INC,
2/22/2024
5487184
$622.71
DBC-CATERING SUPPLIES
290437
3/15/2024
US FOODS INC,
2/21/2024
5470475
$72.73
DBC-CATERING SUPPLIES
290437
3/15/2024
US FOODS INC,
2/17/2024
5374987
$24.08
DBC-CATERING SUPPLIES
290437
3/15/2024
US FOODS INC,
2/19/2024
5396555
$251.33
DBC-CATERING SUPPLIES
290365
3/15/2024
MOUNTAIN MIST WATER,
2/7/2024
005835548
$38.05
PD-WATER SVC ACCT#077665
290394
3/15/2024
QUENCH, INC,
12/22/2023
INV06803403
$204.85
PD-DRINKING WATER SERVICE
290266
3/15/2024
CAFFE D'ARTE LLC,
3/6/2024
547726
$420.25
DBC-COFFEE SUPPLIES
GASOLINE
$73,448.31
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$20.00
PD-GASOLINE
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$63.50
PD-GASOLINE
290162
2/29/2024
PETROCARD INC.,
2/15/2024
C395630
$528.98
PD-VEHICLE FUEL
290103
2/29/2024
FEDERAL WAY PUBLIC SCHO(1/31/2024
AR14048
$25,073.96
PD-01/31 VEHICLE FUEL
290103
2/29/2024
FEDERAL WAY PUBLIC SCHO(1/31/2024
AR14048
$398.28
PD-01/31 VEHICLE FUEL
290066
2/29/2024
FEDERAL WAY PUBLIC SCHO(8/31/2023
AR13896
$20,440.94
FLT-08/23 VEHICLE FUEL
290103
2/29/2024
FEDERAL WAY PUBLIC SCHO(1/31/2024
AR14047
$12,801.68
FLT-01/24 VEHICLE FUEL
Key Bank
Page 14 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290304
3/15/2024
FEDERAL WAY PUBLIC SCHO(2/29/2024
AR14074
$14,120.97
FLT-02/24 VEHICLE FUEL
HEALTH INSURANCE
PREM COBRA
$356.66
290289
3/15/2024
DELTA DENTAL OF WA- GR
032/16/2024
1681175
$356.66
FI-MARCH 2O24 COBRA PAYMENTS
HEALTH INSURANCE
PREMIUM
$300.00
290138
2/29/2024
MARIAM, ALLESSANDRO
1/17/2024
MARIANI 2023
$100.00
PD-DEDUCTIBLE REIMB
290189
2/29/2024
SO, SUN
2/14/2024
SO 2024
$100.00
HR-DEDUCTIBLE REIMB
290423
3/15/2024
TAN, JEDIDIAH T
3/4/2024
TAN 2024
$100.00
PD-DEDUCTIBLE REIMB
HOUSEHOLD SUPPLIES
$7,986.49
290225
2/29/2024
WALTER E NELSON CO.,
2/9/2024
969654
$1.368.40
FWCC-JANITORIAL SUPPLIES
290225
2/29/2024
WALTER E NELSON CO.,
2/9/2024
969658
$401.75
PKM-JANITORIAL SUPPLIES
290225
2/29/2024
WALTER E NELSON CO.,
2/12/2024
969777
$1,662.97
CHB-JANITORIAL SUPPLIES
290225
2/29/2024
WALTER E NELSON CO.,
2/14/2024
970308
$570.49
PKM-JANITORIAL SUPPLIES
290225
2/29/2024
WALTER E NELSON CO.,
2/15/2024
970695
$1,066 69
PKM-JANITORIAL SUPPLIES
290452
3/15/2024
WALTER E NELSON CO.,
2/29/2024
972608
$83.83
FWCC-JANITORIAL SUPPLIES
290452
3/15/2024
WALTER E NELSON CO.,
3/1/2024
972971
$1,368.66
CHB-JANITORIAL SUPPLIES
290452
3/15/2024
WALTER E NELSON CO.,
3/1/2024
972974
$1,163.42
FWCC-JANITORIAL SUPPLIES
290452
3/15/2024
WALTER E NELSON CO.,
3/1/2024
972976
$247.43
PKM-JANITORIAL SUPPLIES
290452
3/15/2024
WALTER E NELSON CO.,
3/1/2024
972981
$52.85
PKM-JANITORIAL SUPPLIES
IMMUNIZATION CHARGE
$369.00
290153
2/29/2024
OCCUPATIONAL HEALTH CEN2/9/2024
82177161
$369.00
HR-DOT RECERT
INCENTIVE PAY
$150.00
290196
2/29/2024
SPROUL, SCOTT
2/5/2024
SPROUL2024
$25.00
PWTR-JAN CRT INCENTIVE PAY
290161
2/29/2024
PEARSON, BRIAN
2/5/2024
PEARSON 2024
B
$25.00
PWTR-CTR INCENTIVE PAY
290148
2/29/2024
NAGARAJ, DEEKSHA
2/5/2024
NAGARAJ 2024
$100.00
PWTR-COMMUTER INCENTIVE PGRM
JAIL CS - KING CO $197 + AG13-015
$65,369.18
290124
2/29/2024
KING COUNTY FINANCE DIVIc2/9/2024
3004610
$36.473.18
PD-AG23-123 DAJD OTH CITIES-
290273
3/15/2024
CITY OF KENT,
2/14/2024
R173586
$28,896.00
PD-AG19-133 JAIL SVC INMATE HO
JAIL CS - NISQUALLY
$73,118.50
290070
2/29/2024
NISQUALLY INDIAN TRIBE.
8/31/2023
36656
$55,510.00
PD-AG23-017 JAIL SVCS
Key Bank
Page 15 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
290152
2/29/2024
NISQUALLY INDIAN TRIBE,
1/31/2024
38420
$17,608.50
PD-AG23-017 JAIL SVCS
JAIL CS - SCORE
$450,610.08
290072
2/29/2024
SCORE,
1/11/2024
7488
$143.343 95
PD-AG23-009 JAIL SVCS INMATE H
290180
2/29/2024
SCORE,
10/10/2022
6294
$99.806 32
PD-AG23-009 JAIL SVCS INMATE H
290180
2/29/2024
SCORE,
2/12/2024
7609
$207,459.81
PD-AG23-009 JAIL SVCS INMATE H
KC HEALTH DEPT-INTERGOVT
$875.00
290391
3/15/2024
PUBLIC HEALTH - SEATTLE
A026/2024
PR0079558
$875 00
FWCC-2024 HEALTH PERMIT RENEWA
LEGAL NOTICES
$1,266.90
290191
2/29/2024
SOUND PUBLISHING INC,
1/1912024
FWM989960
$138.96
CD -AD ACCT#83722477
290191
2/29/2024
SOUND PUBLISHING INC,
1/19/2024
FWM990112
$126.64
CD -AD ACCT#83722477
290191
2/29/2024
SOUND PUBLISHING INC,
1/26/2024
FWM990455
$197.93
CD -AD ACCT#83722477
290191
2/29/2024
SOUND PUBLISHING INC,
1/26/2024
FWM990458
$188.42
CD -AD ACCT#83722477
290191
2/29/2024
SOUND PUBLISHING INC,
1/26/2024
FWM990460
$144.66
CD -AD ACCT#83722477
290192
2/29/2024
SOUND PUBLISHING INC,
1/5/2024
FWM989656
$49.54
CK-AD ACCT#83722476
290415
3/15/2024
SOUND PUBLISHING INC,
1/19/2024
FWM990271
$70.47
CK-AD ACCT#83722476
290415
3/15/2024
SOUND PUBLISHING INC,
2/23/2024
FWM991947
$51.44
CD -AD ACCT#83722477
290415
3/15/2024
SOUND PUBLISHING INC,
2/16/2024
FWM991646
$108.52
CDHS-AD ACCT#83722477
290415
3/15/2024
SOUND PUBLISHING INC,
2/2/2024
FWM990760
$190.32
CDHS-AD ACCT#83722477
LODGING
$3,769.96
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$386 11
MO -LODGING
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$386.11
MO -LODGING
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$242 58
MO -LODGING
225243793
2125/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$284 57
PD-LODGING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$284 57
PD-LODGING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$501.16
PD-LODGING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$284.57
PD-LODGING
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$600.62
FI-GFOA LODGING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$216.56
PD-LODGING
Key Bank
Page 16 of 48
heck No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$583.11
PD-LODGING
LOW INCOME
SENIOR UTAX REBATE
$575.00
290113
2/29/2024
GUTIERREZ, CYNTHIA
2/22/2024
GUTIERREZ 2023
$100.00
FI-UTAX REBATE
290127
2/29/2024
KROPP, WALT
2/22/2024
KROPP 2023
$100.00
FI-UTAX REBATE
290109
2/29/2024
GEYMAN, CAROLYN H.
2/23/2024
GEYMAN 2023
$55.00
FI-2023 UTAX REBATE
290172
2/29/2024
QUON, MICHAEL
2/23/2024
QUON 2023
$10.00
FI-UTAX REBATE PROGRAM
290173
2/29/2024
RAGAN, MARIANNE
2/23/2024
RAGAN 2023
$60,00
FI-2023 UTAX REBATE
290134
2/29/2024
LEE, SUNG S
2/24/2024
LEE 2023
$35.00
FI-UTAX REBATE
290137
2/29/2024
MAENG, YOUNG JIN
2/22/2024
MAENG 2023
$35.00
FI-2023 UTAX REBATE
290287
3/15/2024
DEBROCK, PATRICIA
3/11/2024
DEBROCK 2023
$100.00
FI-2023 UTILITY TAX REBATE
290461
3/15/2024
YARROLL, JANICE
3/11/2024
YARROLL2023
$70.00
FI-2023 UTILITY TAX REBATE
290315
3/15/2024
GOEBEL, BARBARA
3/12/2024
GOEBEL 2023
$10.00
FI-2023 UTILITY TAX REBATE
MECHANICAL
PERMITS
$291.19
290112
2/29/2024
GREENWOOD HEATING & A/C1/12/2024
24-100169 23-105685
$72.20
CD-24-100169 23-105685 PERMIT
290412
3/15/2024
SIMONSON. KATRINA
2/26/2024
24-100739
$218.99
CD-24-100739 PERMIT REFUND
MEDICAL SERVICES
$49,375.12
290180
2/29/2024
SCORE,
10/10/2022
6294
$5.642.00
PD-AG23-009 JAIL SVCS INMATE H
290180
2/29/2024
SCORE,
1/26/2024
7558
$66.00
PD-AG23-009 JAIL SVCS INMATE H
290072
2/29/2024
SCORE,
1/24/2024
7548
$440 00
PD-AG23-009 JAIL SVCS INMATE H
290072
2/29/2024
SCORE,
1/11/2024
7488
$11,935.00
PD-AG23-009 JAIL SVCS INMATE H
290070
2/29/2024
NISQUALLY INDIAN TRIBE,
10/31/2023
38035
$228 33
PD-AG23-017 JAIL SVCS
290070
2/29/2024
NISQUALLY INDIAN TRIBE,
9/30/2023
38012
$-1,453.56
PD-AG23-017 JAIL SVCS
290070
2/29/2024
NISQUALLY INDIAN TRIBE,
12/31/2023
38128
$93.72
PD-AG23-017 JAIL SVCS
290070
2/29/2024
NISQUALLY INDIAN TRIBE,
11/30/2023
38075
$139,45
PD-AG23-017 JAIL SVCS
290180
2/29/2024
SCORE,
2/12/2024
7609
$23.245.04
PD-AG23-009 JAIL SVCS INMATE H
290124
2/29/2024
KING COUNTY FINANCE DIVIM/9/2024
3004610
$2.090.80
PD-AG23-123 DAJD OTH CITIES-
290091
2/29/2024
CITY OF PUYALLUP,
2/8/2024
1616
$5,460.84
PD-01/24AG22-061 JAIL SVC INM
Key Bank Page 17 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290180
2/29/2024
SCORE,
2/2/2024
7534
$680.00
PD-AG23-009 JAILS SVCS INMATE
290180
2/29/2024
SCORE,
2/2/2024
7535
$255.00
PD-AG23-009 JAILS SVCS INMATE
290180
2/29/2024
SCORE,
2/2/2024
7537
$552.50
PD-AG23-009 JAILS SVCS INMATE
MEDICAL SERVICES - CLAIMS
$2,333.05
22624419
2/26/2024
KAISER FOUNDATION HEALTF2/26/2024
INVSF0014149
$154.93
FI-02/13/24-02/19/24 KAISER HE
301249299
3/1/2024
KAISER FOUNDATION HEALTF3/1/2024
2629299
$1,558.59
FI-KASIER PYMT
290371
3/15/2024
NAVIA BENEFIT SOLUTIONS,
3/4/2024
13037
$619.53
HR-FLEX PLAN ADM SVCS AG12-061
MENTAL HEALTH SERVICES
$89,962.95
290124
2/29/2024
KING COUNTY FINANCE DIVIc.2/9/2024
3004610
$13,179.26
PD-AG23-123 DAJD OTH CITIES-
290180
2/29/2024
SCORE,
2/12/2024
7609
$42,047.69
PD-AG23-009 JAIL SVCS INMATE H
290072
2/29/2024
SCORE,
1/11/2024
7488
$19,472.00
PD-AG23-009 JAIL SVCS INMATE H
290180
2/29/2024
SCORE,
10/10/2022
6294
$15,264.00
PD-AG23-009 JAIL SVCS INMATE H
MILEAGE REIMBURSEMENT
$231.48
290276
3/15/2024
CLEMONS, DAVID
2/29/2024
CLEMONS 2024
$90.05
DBC- 02/2024 MILEAGE REIMB
290401
3/15/2024
SANDERS, DANIEL
2/29/2024
SANDERS 2024
B
$42.00
MC-ADV TVL PAROLE ASSOCATION
290401
3/15/2024
SANDERS, DANIEL
2/29/2024
SANDERS 2024
$99 43
MC -PROBATION MILEAGE
MINOR DP EQUIPMENT
$17,936.40
290462
3/15/2024
ZONES LLC,
3/5/2024
K22407430102
$1,095 50
IT-PK DUMAS BAY CENTER DISPLAY
290436
3/15/2024
UPSTATE WHOLESALE SUPPI2/29/2024
INV32756
$1,544 90
Sales Tax
290436
3/15/2024
UPSTATE WHOLESALE SUPPI2/29/2024
INV32756
$2.100.00
IT - PD GETAC LAPTOPS FOR POLI
290436
3/15/2024
UPSTATE WHOLESALE SUPPI2/29/2024
INV32756
$13,196.00
IT - PD GETAC LAPTOPS FOR POLI
MINOR DP SOFTWARE
$18,522.76
290141
2/29/2024
MIDWESTERN SOFTWARE, SC2/14/2024
20105.M-5
$17,616.00
PWTR-MS2 TCDS & TMC SYS ACT &
290187
2/29/2024
SHI INTERNATIONAL CORP.
1/31/2024
B17909181
$411.79
IT - PWADOBE ACROBAT PRO 2020
290187
2/29/2024
SHIINTERNATIONAL CORP,
1/31/2024
B17909181
$41.59
Sales Tax
290411
3/15/2024
SHI INTERNATIONAL CORP,
2/29/2024
B18021444
$411.79
IT - PD ADOBE ACROBAT PRO 2020
290411
3/15/2024
SHI INTERNATIONAL CORP,
2/29/2024
B18021444
$41.59
Sales Tax
MINOR EQUIP-MISC
$39,187.60
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$664 96
PD-MINOR EQUIP
Key Bank
Page 18 of 48
Check No. Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$57 25
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-420.28
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$135.00
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$420.50
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,260.84
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2,333.70
PD-AMMO
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$180.18
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$584.20
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2,560 58
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,561.39
PD-AMMO
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$440.40
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,074.76
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$201.49
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$81.89
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2.166,09
PD-AMMO
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2,528.16
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$40 91
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$334.46
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$99.00
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$406.21
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2,228.05
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$2.221.28
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$3,499 73
PD-AMMO
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$8.26
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,041.48
PD-AMMO
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$87 79
PD-MINOR EQUIP
Key Bank
Page 19 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290075
2/29/2024
911 SUPPLY INC, 2/14/2024
INV-2-35778
$313.21
PD-UNIFORM SUPPLIES
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$1,727.18
IT-FWCC LAPTOP-
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$159.84
IT - FWCC LAPTOP-
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$46.24
IT - FWCC LAPTOP-•
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$74.99
IT- FWCC LAPTOP-
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$222.39
IT - FWCC LAPTOP-
290098
2/29/2024
DELL MARKETING LP, 2/12/2024
10730462093
$225.28
Sales Tax
290075
2/29/2024
911 SUPPLY INC, 2/8/2024
INV-2-35693
$1,516 08
PD-UNIFORM SUPPLIES
290075
2/29/2024
911 SUPPLY INC, 2/8/2024
INV-2-35694
$1.516.08
PD-UNIFORM SUPPLIES
290128
2/29/2024
L N CURTIS & SONS, 2/8/2024
INV790516
$188.27
PD-OPER SUPPLIES
290187
2/29/2024
SHI INTERNATIONAL CORP, 1/31/2024
B17909208
$411.79
IT - PD ADOBE ACROBAT PRO 2020
290187
2/29/2024
SHI INTERNATIONAL CORP, 1/31/2024
B17909208
$41.59
Sales Tax
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354407
$253.21
IT- PKAVIGILON DOME CAMERA F
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354407
$964.55
IT- PKAVIGILON DOME CAMERA F
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354407
$15.00
Freight
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354407
$124.51
Sales Tax
290067
2/29/2024
JENNINGS EQUIPMENT INC, 11/16/2023
48782P
$1.250.69
PWST-MAINT SUPPLIESS
290067
2/29/2024
JENNINGS EQUIPMENT INC, 12/11/2023
49244P
$378.73
SWM-MAINT SVC
290121
2/29/2024
JENNINGS EQUIPMENT INC, 1/22/2024
97652P
$616.55
PWST-MOWER REPAIR PARTS/SUPPL
290106
2/29/2024
FIRST RESPONDER OUTFITTE1/26/2024
202401FR124
$1,452.68
PD-UNIFORM/EQUIP
290232
2/29/2024
ZAICHKIN. ETHAN 2/1/2024
ZAICHKIN 2024
$200 00
PD-EQUIP ALLOW
290242
3/15/2024
911 SUPPLY INC, 2/23/2024
INV-2-36047
$18.44
PD-UNIFORM SUPPLIES
290310
3/15/2024
G.W., INC, 2/12/2024
1246607
$858.00
PD-GLOCK GEN-5 G17 MOS, 9MM FI
290310
3/15/2024
G.W., INC, 2/12/2024
1246607
$86.66
Sales Tax
290260
3/15/2024
BEN-KO-MATIC CO, OWEN EQ3/1/2024
00114132
$727.36
FLT-MAINT & REPAIR SVCS
MISC POLICE DEPOSIT ACCOUNT
$198.00
Key Bank Page 20 of 48
Check No.
Date
Vendor Invoice Date
Invoice Description
AmountGLTotal
290177
2/29/2024
RHODES, RONALD 2/16/2024
23-8686
$198.00
PD-REFUND SAFEKEEPING FUND #1-
MISC PROFESSIONAL
SVS-INTERGOV
$10,009.84
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC2/26/2024
02-26-2024
$2,354 25
PW-LAKEHAVEN DEVELOPER EXTAGM
290220
2/29/2024
WA STATE AUDITOR'SOFFICE2/9/2024
L159258
$2,782.00
FI-STATE AUDITOR SERVICES
290391
3/15/2024
PUBLIC HEALTH - SEATTLE AM/4/2024
PR0023663
$84900
DBC-2024 HEALTH PERMIT RENEWAL
290344
3/15/2024
KING COUNTY FINANCE DIVIS1/31/2024
11014361
$109.12
IT-AG20-063 KING COUNTY I -NET
290344
3/15/2024
KING COUNTY FINANCE DIVIE1/31/2024
11014361
$627.44
IT-AG20-063 KING COUNTY I -NET
290344
3/15/2024
KING COUNTY FINANCE DIVIc°1/31/2024
131739-131744,131865
$1,413 06
PWTR/PW--RSD PJ#131739-131744,1
290344
3/15/2024
KING COUNTY FINANCE DIVIE1/31/2024
131739-131744,131865
$617.01
PWTR/PW-RSD PJ#131739-131744,1
290344
3/15/2024
KING COUNTY FINANCE DIVIS1/31/2024
131739-131744,131865
$692.07
PWTR/PW-RSD PJ#131739-131744,1
290449
3/15/2024
WA STATE DEPT OF TRANS PC2/13/2024
RE 41 JZ0247 L057
$565.89
PW-PROJECT JZ0247 FEES
MISC SERVICES & CHARGES
$33,091.41
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$82,58
CD-BLDG RESEARCH DEPT
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$91.37
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$375.00
PD-MISC EXPENSES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$1,526 75
PD-MISC EXPENSES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$1.252 82
PD-MISC EXPENSES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$192.00
PD-MISC EXPENSES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$600.00
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$237.68
PD-ADVERTISING
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$0.99
PD-OPER SUPPLIES
290217
2/29/2024
VERIZON WIRELESS, 2/21/2024
9022348561
$50.00
IT-01/24 CELLULAR SVC ACCT#WA1
290147
2/29/2024
MVTOW NGLLC, 2/14/2024
30447
$132.12
PD-VEHICLE TOW
290147
2/29/2024
MVTOWING LLC, 2/11/2024
31424
$77.07
PD-VEHICLE TOW
290146
2/29/2024
MULTICARE CENTERS OF, OC2/1/2024
159137
$1,535.00
PD-OFFICER PHYSICAL
290191
2/29/2024
SOUND PUBLISHING INC, 1/31/2024
8127674
$2.080,00
MO -AD ACCT#83733388
290147
2/29/2024
MVTOW NGLLC, 1/31/2024
31247
$77.07
PD-VEHICLE TOW
Key Bank Page 21 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290147
2/29/2024
MV TOWING LLC,
1/31/2024
31249
$77.07
PD-VEHICLE TOW
290147
2/29/2024
MVTOW NGLLC,
1/21/2024
31225
$7707
PD-VEHICLE TOW
290147
2/29/2024
MV TOWING LLC,
1/23/2024
30435
$77.07
PD-VEHICLE TOW
290147
2/29/2024
MV TOWING LLC,
1/24/2024
30438
$132.12
PD-VEHICLE TOW
290147
2/29/2024
MV TOWING LLC,
1/24/2024
30842
$77.07
PD-VEHICLE TOW
290147
2/29/2024
MV TOWING LLC,
1/25/2024
31308
$77.07
PD-VEHICLE TOW
290170
2/29/2024
PUBLIC SAFETY TESTING,
2/12/2024
2024-76
$2.123.00
PD-AG23-007 PUBLIC SAFETY TEST
290175
2/29/2024
REDWOOD TOXICOLOGYLAB1/31/2024
30861420241
$471.93
MC -TOXICOLOGY SVCS
290190
2/29/2024
SOUND PUBLISHING INC,
1/31/2024
8127723
$1,110.00
MO -AD ACCT#83754842
290239
3/8/2024
JOHNSON, IAN
3/6/2024
3/6/2024
$740.70
PD-IMPROPER IMPOUND FEE #VI24-
290428
3/15/2024
THUILLIER, JENNIFER
3/1/2024
202411
$80.00
SWM/SWR-GRAPHIC DESIGN FOR OUT
290450
3/15/2024
WA STATE PATROL,
3/1/2024
112404895
$34.25
PD-BACKGROUND CHECKS
290280
3/15/2024
COMMUNITIES IN SCHOOLS, 3/5/2024
1095
$2,500.00
MO -SPONSOR FEE
290298
3/15/2024
EQUIFAX CREDIT INFORMATI(1/23/2024
2058755592
$44.04
PD-CREDIT REPORTING SVCS
290441
3/15/2024
VERIZON WIRELESS,
2/13/2024
9956665217
$72018
PD-01/24 CELLULAR SVC ACCT#
290294
3/15/2024
ELAVON INC,
1/31/2024
CA4031100691
$215.85
FWAN MC MERCHANT FEES
290294
3/15/2024
ELAVON INC,
1/31/2024
CA4031100688
$10,530.71
FWAN CITY HALL MERCHANT FEES
290294
3/15/2024
ELAVON INC,
1/31/2024
CA4031100689
$98.74
FWAN CITY HALL MERCHANT FEES
290294
3/15/2024
ELAVON INC,
1/31/2024
CA4031100690
$454.04
FWAN DBC MERCHANT FEES
290294
3/15/2024
ELAVON INC,
1/31/2024
CA4031100826
$96.73
FWAN PROBATION OFFICE MERCHA
290383
3/15/2024
PNW POLYGRAPH SERVICES,1/31/2024
24-001
$875.00
PD-POLYGRAPH
290367
3/15/2024
MV TOWING LLC,
2/9/2024
31319
$77.07
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC,
2/15/2024
31430
$77.07
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC,
2/15/2024
31433
$132.12
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC,
2/14/2024
30448
$77 07
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC,
2/14/2024
31428
$77 07
PD-VEHICLE TOW
Key Bank Page 22 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290367
3/15/2024
MV TOWING LLC, 2/24/2024
31602
$77.07
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC. 2/20/2024
31438
$132.12
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC, 2/22/2024
31444
$77.07
PD-VEHICLE TOW
290379
3/15/2024
PERFORMING ARTS & EVENT2/15/2024
E02052
$3,155.40
MO-PAEC EVENT
290367
3/15/2024
MVTOWING LLC, 2/16/2024
30874
$77.07
PD-VEHICLE TOW
290367
3/15/2024
MVTOW NG LLC, 2/17/2024
31323
$132.12
PD-VEHICLE TOW
290367
3/15/2024
MV TOWING LLC, 2/19/2024
31326
$77.07
PD-VEHICLE TOW
MY BLDG PRMT
ONBRD FEE
$19,336.86
290272
3/15/2024
CITY OF BELLEVUE. 2/29/2024
48680
$19.336.86
IT -AG 20-087 Q1 2024 MBP SUBSC
NATURAL GAS
$337.85
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
888103
$219.05
CHB-12/23 31132 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
101
$49.10
PKM-12/23 30009 16TH AVE S IRR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
3837901
$69.70
PKM-12/23 31201 28TH AVE S M#2
NON GOVT DP SERVICES
$88,211.00
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$166.88
Sales Tax
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$208.60
Sales Tax
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$41 71
Sales Tax
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$413.06
IT-PD MICROSOFT 365 SUBSCRIPT
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$2,065.30
IT-PD MICROSOFT 365 SUBSCRIPT
290119
2/29/2024
INSIGHT PUBLIC SECTOR INC2/6/2024
1101135083
$1,652.24
IT-PD MICROSOFT 365 SUBSCRIPT
290111
2/29/2024
GLOBAL DATA VAULT, LLC, 2/20/2024
9252477
$3,295.00
IT-AG23-061 BACKUP & DISASTER
290101
2/29/2024
ESCRIBE SOFTWARE LTD, 11/30/2023
4700
$16,550.00
IT- ESCRIBE MEETING MANAGEMEN
290107
2/29/2024
FRESHWORKS INC, 12/31/2023
FS250600
$14,467.14
IT-AG24-026 FRESHSERVICE - IT
290290
3/15/2024
DMX LLC DBA MOOD MEDIA, 3/1/2024
58064332
$56,21
IT-03/24 MEDIA SERVICES
290303
3/15/2024
FDS HOLDINGS INC, DBACAR2/13/2024
REM11693677
$25.00
IT-01/24 CH CARD CONNECT FEE
290344
3/15/2024
KING COUNTY FINANCE DIVIS1/31/2024
11014361
$627,44
IT-AG20-063 KING COUNTY I -NET
290410
3/15/2024
SHI INTERNATIONAL CORP, 2/21/2024
B17988543
$9.498.24
IT -AUTO CAD & CIVIL 3D SOFTW
Key Bank Page 23 of 48
Check No. Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
290410 3/15/2024
SHI INTERNATIONAL CORP,
2/21/2024
B17988543
$3,042.56
IT -AUTO CAD & CIVIL 3D SOFTW
290410 3/15/2024
SH I INTERNATIONAL CORP,
2/21/2024
B17988543
$3,097.20
Sales Tax
290410 3/15/2024
SHI INTERNATIONAL CORP,
2/21/2024
B17988543
$6,900.26
IT -AUTO CAD & CIVIL 3D SOFTW
290410 3/15/2024
SHI INTERNATIONAL CORP,
2/21/2024
B17988543
$8,679.12
IT -AUTO CAD & CIVIL 3D SOFTW
290410 3/15/2024
SHI INTERNATIONAL CORP,
2/21/2024
B17988543
$2,545.20
IT -AUTO CAD & CIVIL 3D SOFTW
290462 3/15/2024
ZONES LLC,
2/29/2024
K22253130101
$392.10
IT -ADDITIONAL MIMECAST LICENSE
290462 3/15/2024
ZONES LLC,
2/29/2024
K22253130101
$392.09
IT -ADDITIONAL MIMECAST LICENSE
290353 3/15/2024
LEXISNEXIS,
2/29/2024
3094961100
$535.09
IT-01/24 SUSCRIP CONTENT
290404 3/15/2024
SELECTRON TECHNOLOGIES2/28/2024
19279
$10,055.00
IT - CD RENEWAL FOR VOICE PERM
290404 3/15/2024
SELECTRON TECHNOLOGIES2/28/2024
19279
$1,015.56
Sales Tax
290318 3/15/2024
GRANICUS LLC,
2/29/2024
180239
$2,490.00
IT - DATA EXTRACTION CONSULTIN
OFFICE SUPPLIES
$7,153.66
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$51.88
FWCC-OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$84.95
PARKS -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$66.00
PARKS -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$12.99
CD -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$41.83
PARKS -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$11.85
FWCC-OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$17.50
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$45.02
CD -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$45.84
PARKS -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$100.80
PARKS -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$106.67
CD -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$24.82
CD -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$12.55
FWCC-OFFICE SUPPLIES
225243703 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$3,115.00
PD-OFFICE SUPPLIES
Key Bank
Page 24 of 48
Check No. Date Vendor Invoice Date Invoice Description AmountGL Total
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$70 45
FWCC-OFFICE SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY
VISA
$49 18
FWCC-OFFICE SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY
VISA
$176 15
FWCC-OFFICE SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$39 83
PD-OFFICE SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$88 06
PD-OFFICE SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY
VISA
$76 84
FWCC-OFFICE SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$6 59
PD-OFFICE SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$81 04
PD-OFFICE SUPPLIES
290093
2/29/2024
COMPLETE OFFICE,
2/22/2024
2269845-0
$59 33
MO -OFFICE SUPPLIES
290094
2/29/2024
COMPLETE OFFICE,
2/9/2024
2267915-0
$56 61
PKM-OFFICE SUPPLIES
290094
2/29/2024
COMPLETE OFFICE,
2/14/2024
2268603-0
$50 86
MO -OFFICE SUPPLIES
290154
2/29/2024
ODP BUSINESS SOLUTIONS
1-1125/2024
352312475001
$-13.26
PD-OFFICE SUPPLIES
290154
2/29/2024
ODP BUSINESS SOLUTIONS
1-1126/2024
352440486001
$37.76
PD-OFFICE SUPPLIES
290197
2/29/2024
STAPLES BUSINESS ADVANTFI/31/2024
3558326216
$18.23
PD-OFFICE SUPPLIES
290197
2/29/2024
STAPLES BUSINESS ADVANTFI/31/2024
3558326217
$64.32
PD-OFFICE SUPPLIES
290197
2/29/2024
STAPLES BUSINESS ADVANTFI/31/2024
3558326219
$12.97
PD-OFFICE SUPPLIES
290154
2/29/2024
ODP BUSINESS SOLUTIONS
1-2/1/2024
352407967001
$181.83
PD-OFFICE SUPPLIES
290200
2/29/2024
SUMMIT MODULAR LLC,
1/1/2024
23-341
$1,970.79
CD -WORKSTATION SUPPLIES
290281
3/15/2024
COMPLETE OFFICE,
12/19/2023
2257282-0
$200 07
PKM-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE,
2/13/2024
2268443-0
$40 86
PWST-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE,
2/29/2024
2271513-0
$22.57
PKM-OFFICE SUPPLIES
290281
3/15/2024
COMPLETE OFFICE,
2/28/2024
2271247-0
$124.88
MC -OFFICE SUPPLIES
OPERATING RENTALS/LEASES
290088
2/29/2024
BALLI ROAD LLC,
3/1/2024
4165
$3,700.00
PD-AG23-027 SUBSTATION LEASE-
290231
2/29/2024
WILLIAMS SCOTSMAN INC,
2/8/2024
9020154468
$1,336.16
PKM-AG22-062 RENTALAGREEMENT
301246907
3/1/2024
FWPAEC QALICB,
3/1/2024
2024 QTR 1
$100,321.00
FI-SUBLEASE PAYMENT
$117,333.02
Key Bank Page 25 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
290460
3/15/2024
WILLIAMS SCOTSMAN INC,
2/23/2024
9020275599
$1,430.92
PKM-AG22-062 RENTALAGREEMENT
290460
3/15/2024
WILLIAMS SCOTSMAN INC,
2/22/2024
9020264837
$1,37446
PKM-AG22-062 RENTALAGREEMENT
290263
3/15/2024
BLUE PEARL VETERINARY,
2/28/2024
1283288
$159 30
PD-VET SERVICES
290333
3/15/2024
IRON MOUNTAIN INFORMATIC2/29/2024
JHBL277
$2,323.18
CK-STORAGE SVC
290425
3/15/2024
THE HUMANE SOCIETY FOR, 3/1/2024
PS-INV103169
$6,688 00
PD-AG21-033 ANIMAL SHELTER PSA
OTHER MISC REVENUE
$1,970.48
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$-0.01
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$1.025.81
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$566.01
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$378.67
FI-01/24 REMIT SALES TAX
OTHER MISCELLANEOUS REVENUE
$-3,674.79
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$-3,674.79
FI-01/24 REMIT SALES TAX
OTHER OPERATING SUPPLIES
$31,631.83
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$105.42
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$79.16
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$865 00
PD-MINOR EQUIP
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$465.16
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$22.00
PD-MINOR EQUIP
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$341.78
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,715.40
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$64.96
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$118.78
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-39.50
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-33 21
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$142.72
PD-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$105.68
PARKS-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$75.81
PARKS -TRIP TICKET
Key Bank Page 26 of 48
Check No. Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$69.59
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$32.54
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$120.71
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$10&68
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$46.00
PARKS-OPER SUPPLIES
225244759 2125/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$21.98
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$10.99
PARKS -FOOD SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$68.36
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$61.52
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$105.68
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$73 04
FWCC-FOOD SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$26 40
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$43 18
PARKS-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$726.66
FWCC-OPER SUPPLIES
225244759 2125/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$5.62
FWCC-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19 78
FWCC-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$-105 68
PARKS -CLOTHING ALLOW
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$25 77
FWCC-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$65 45
FWCC-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,401 84
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$125.25
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-12.81
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$9.76
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$121.10
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$68.60
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$40-59
PD-OPER SUPPLIES
Key Bank Page 27 of 48
Check No. Date
Vendor
Invoice Date
Invoice Description
AmountGLTotal
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$82.56
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$1,424 16
PD-ADVERTISING
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-5.38
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$217.60
PD-MINOR EQUIP
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$38.77
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$12 87
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$68.64
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$44.03
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$80.83
PD-OPER SUPPLIES
225243793 2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$-66.05
PD-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$54.80
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$0.20
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$98.99
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$6.15
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$99.25
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$39.70
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$46 64
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024.
JAN 2024 CITY VISA
$226.81
CD -OFFICE SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$18.50
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$-13.28
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$13.28
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$348.00
PARKS-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$16.50
MO-OPER SUPPLIES
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$171.23
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$41.82
CD-OPER SUPPLS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$52.78
CD-OPER SUPPLS
Key Bank
Page 28 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
225244759
2/25/2024
US BANK, 2/25/2024
_
JAN 2024 CITY VISA
$56.29
FWCC-OPER SUPPLIES
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$213.90
FWCC-OPER SUPPLIES
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$99 47
FWCC-OPER SUPPLIES
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$179 35
FWCC-OPER SUPPLIES
290186
2/29/2024
SHERWIN-WILLIAMSCO, 2/21/2024
52564
$5647
CD -FACILITIES PAINT SUPPLIES
290167
2/29/2024
PRINTERY COMMUNICATION:1/31/2024
240014
$2,357.49
PWST-BC IMPRINTS
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038686
$153.59
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038687
$128 82
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91039113
$3.402.09
SWM/PWST/PWTR-ENG DIV REMODEL
290212
2/29/2024
ULINE, 2/2/2024
173977356
$201.32
PD-EVIDENCE SUPPLIES
290204
2/29/2024
THOMPSON ELECTRICAL, CO2/9/2024
224-19247A
$1,460.59
PWTR-REPAIR & MAINT SVCS
290197
2/29/2024
STAPLES BUSINESS ADVANTF1/31/2024
3558326213
$29771
PD-OFFICE SUPPLIES
290198
2/29/2024
STOP STICK LTD., 2/12/2024
0032230-IN
$4,569.15
PD-9' STOP STICK KIT
290142
2/29/2024
MONTGOMERY, SARA 2/17/2024
MONTGOMERY 2024
$416 33
PARKS -SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 3/6/2024
2272885-0
$24.38
MO -OFFICE SUPPLIES
290301
3/15/2024
EVIDENT CRIME SCENE PRO12/13/2024
238592A
$642 65
PD-EVIDENCE SUPPLIES
290252
3/15/2024
ALPINE PRODUCTS INC, 2/20/2024
TM-222177
$80.45
PW-MAINT SUPPLIES
290281
3/15/2024
COMPLETE OFFICE, 2/27/2024
2271096-0
$126 10
MO -OFFICE SUPPLIES
290345
3/15/2024
KING COUNTY RECORDER, 2/26/2024
02/26/24
$304.50
MC -PRO TEM REGISTRATION
290248
3/15/2024
AFFORDABLE STORAGE CON1/6/2024
ASC37296
$4.927.50
SWM-1X20' STD (ONE TRIP) ISO 0
290363
3/15/2024
MONTGOMERY, SARA 1/10/2024
MONTGOMERY 2024
$124.59
PARKS -ART SUPPLIES
290375
3/15/2024
OUTDOORS FOR ALL FOUNDA/31/2024
6290
$450.00
PARKS-OPER SUPPLIES
290440
3/15/2024
VARI SALES CORPORATION, 3/5/2024
91067829
$69,36
PWTR-DEKKO 6 EXTRA FLEX
290296
3/15/2024
ELLSWORTH, LEIF 3/8/2024
ELLSWORTH
2O23
$214.53
FWCC-ICE PACKS
290440
3/15/2024
VARI SALES CORPORATION, 2/23/2024
91063473
$153.59
PWTR-ENG DIV REMODEL
290440
3/15/2024
VARI SALES CORPORATION, 2/23/2024
91063749
$495.45
PWTR-BEAM KIT 72
Key Bank Page 29 of 48
Check No.
Date
Vendor
Invoice Date
Invoice Description
AmountGL Total
PARKINGITOLLS
$359.49
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$89.50
PD-TRAINING
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$71 50
PD-TOLLS
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$6.50
PD-TOLLS
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$78.00
PD-OPER SUPPLIES
225243793
2/25/2024
US BANK,
2/25/2024
JAN 2024 PD VISA
$3.50
PD-OPER SUPPLIES
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$110.49
MO -PARKING TOOLS
PD - CLAIMS GLIPL
$49,291.80
290123
2/29/2024
KEATING, BUCKLIN & MCCOR2/9/2024
21751
$6.279.00
LAW-AG23-159 LEGAL SVCS-
290123
2/29/2024.
KEATING, BUCKLIN & MCCOR2/9/2024
21750
$1,173.00
LAW-AG23-159 LEGAL SVCS-
290446
3/15/2024
VONDA M. SARGENT,
3/11/2024
3/11/24
$39.304.10
RM-LAW-SETTLEMENT- PELLUM V.
290341
3/15/2024
KEATING, BUCKLIN & MCCOR3/7/2024
21919
$741.70
LAW-AG23-159 LEGAL SVCS-
290341
3/15/2024
KEATING, BUCKLIN & MCCOR3/7/2024
21920
$1,794.00
LAW-AG23-159 LEGAL SVCS-
PER DIEM MEALS
$2,343.66
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$30 31
MO -PER DIEM MEALS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$23.36
MO -PER DIEM MEALS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$18 65
MO -PER DIEM MEALS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$347.84
CD -TRAINING MEALS
225244759
2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$10.50
MO- PER DIEM/MEALS
290139
2/29/2024
MCDANIEL,PAUL
1/29/2024
MCDANIEL2024
$19900
CC-ADV TVL NLC CONGRESSIONAL C
290209
2/29/2024
TRAN, HOAN
1/29/2024
TRAN 2024
$199.00
CC-ADV TVL NLC CONGRESSIONAL C
290224
2/29/2024
WALSH, JACK
1/29/2024
WALSH 2O24 B
$199 00
CC-ADV TVL NLC CONGRESSIONAL C
290086
2/29/2024
ASSEFA-DAWSON, LYDIA
1/29/2024
ASSEFA-DAWSON 2024
$307 00
CC-ADV TVL REIMB NLCANNUAL CO
290110
2/29/2024
GLANDON, AMY
1/29/2024
GLANDON 2024
$199.00
CC-ADV TVL NCL CONGRESSIONAL C
290117
2/29/2024
HONDA, SUSAN
1/29/2024
HONDA2024
$292.00
CC-ADV TVL REIMB NLC CONGRESSI
290126
2/29/2024
KOCHMAR, LINDA
1/29/2024
KOCHMAR 2024
$199.00
CC-ADV TVL NLC CONGRESSIONAL C
290219
2/29/2024
VILLALOVOS, ANGIE
2/22/2024
VILLALOVOS 2024
$15.00
CD-ADV TRAVEL WINTER CD COMPL
Key Bank Page 30 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290237
3/5/2024
TRAN, HOANG
1/30/2024
03/08/2024
$199.00
CC-ADV TRAVEL REIMB NLC CON Cl
290401
3/15/2024
SANDERS, DANIEL
2/29/2024
SANDERS 2024
B
$45.00
MC-ADV TVL PAROLE ASSOCATION
290402
3/15/2024
SCARPACI, STACIE
2/29/2024
SCARPACI 2024
$60,00
MC-ADV TVL PAROLE ASSOCIATION
PLAN CHECKING
FEES
$90.38
290455
3/15/2024
WATERS & WOOD INC,
2/29/2024
23-104849
$90.38
CD-23-104849 PERMIT REFUND
PLUMBING PERMITS
$576.19
290455
3/15/2024
WATERS & WOOD INC,
2/29/2024
23-104849
$139.04
CD-23-104849 PERMIT REFUND
290243
3/15/2024
ACCO ENGINEERED SYSTEM3/4/2024
24-100713
$142.34
CD-24-100713 PERMIT REFUND
290321 3/15/2024
GROVER, ROBIN
2/21/2024
24-100597
$294.81
CD-24-100597 PERMIT REFUND
POSTAGE/DELIVERY SERVICES
225244759 2/25/2024
US BANK,
2/25/2024
JAN. 2024 CITY VISA
$28.95
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$38.60
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$28.95
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$28.95
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$28.95
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$9.65
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19 30
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$38.60
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$38.60
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19.30
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$316.40
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19.70
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$29.55
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$28.95
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19.30
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$19.70
CD -MAIL SVCS
225244759 2/25/2024
US BANK,
2/25/2024
JAN 2024 CITY VISA
$28.95
CD -MAIL SVCS
$2,720.95
Key Bank
Page 31 of 48
Check No. Date Vendor Invoice Date Invoice Description AmountGL Total
225244759 2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$77.15
CD -MAIL SVCS
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$28.95
CD -MAIL SVCS
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$28.95
CD -MAIL SVCS
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$28.95
CD -MAIL SVCS
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$28.95
CD -MAIL SVCS
290165
2/29/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597561
$248 11
FI-PITNEY BOWES POSTAGE DEPOSI
290165
2/29/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597561
$363 90
FI-PITNEY BOWES POSTAGE DEPOSI
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762134
$38.61
FI-PITNEY BOWES POSTAGE DEPOSI
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762134
$56.63
FI-PITNEY BOWES POSTAGE DEPOSI
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762133
$383.81
FI-PITNEY BOWES POSTAGE DEPOSI
290164
2/29/2024
PITNEY BOWES PRESORT SV2/3/2024
1024762133
$562.91
FI-PITNEY BOWES POSTAGE DEPOSI
290382
3/15/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597562
$53.37
FI-PITNEY BOWES POSTAGE DEPOSI
290382
3/15/2024
PITNEY BOWES PRESORT SV1/6/2024
1024597562
$78.26
FI-PITNEY BOWES POSTAGE DEPOSI
PRINTING/PHOTO SERVICES
290062
2/28/2024
MINUTEMAN PRESS OF FEDE2/27/2024
02/27/2024
$11,669.46
SWR-AG22-140 PRINT & DISTRIBUT
290167
2/29/2024
PRINTERY COMMUNICATIONc1/31/2024
240021
$1,115.38
PWST-BC IMPRINTS
290211
2/29/2024
U.S CONFERENCE OF MAYOR2/13/2024
INV004460
$3,838.00
MO -US CONF OF MAYORS
290190
2/29/2024
SOUND PUBLISHING INC, 1/31/2024
8127723
$1,110.00
CDHS-AD ACCT #83754842
290223
2/29/2024
WA. DEPT OF CORRECTIONS2/5/2024
FCU2401.7536
$72.74
PKM-CONTRACT K12614
290316
3/15/2024
GOS PRINTING CORPORAT1O2/22/2024
95860
$265.47
PD-PRINTING SERVICES
290316
3/15/2024
GOS PRINTING CORPORAT1O2/14/2024
95827
$1,823.13
PD-PRINTING SERVICES
290387
3/15/2024
PRINTERY COMMUNICATION: /29/2024
240045
$1,422.41
HR-BC IMPRINTS
290387
3/15/2024
PRINTERY COMMUNICATION:2/29/2024
240051
$1,135.05
HR-BC IMPRINTS
290445
3/15/2024
VILMASIGNS, 3/1/2024
4503
$148.64
MC-BANNER/SIGN
290316
3/15/2024
GOS PRINTING CORPORAT1O2/22/2024
95861
$146.70
PD-PRINTING SERVICES
PROFESSIONAL SERVICES
225244759 2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$4,885.00
PARKS -HANGING ART
$22,746.98
$880,090.07
Key Bank
Page 32 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
225244759 2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$80 43
CD-INTERPETER SVCS
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$506 46
FWCC-STAFF SCHEDULING
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$695.00
FWCC-LICENSING FEE
290215
2/29/2024
USIC HOLDINGS INC, 1/31/2024
638646
$21084.80
PWTR/SWM-AG19-078 UGD ULT LOCA
290215
2/29/2024
USIC HOLDINGS INC, 1/31/2024
638646
$5,942.47
PWTR/SWM-AG19-078 UGD ULT LOCA
290215
2/29/2024
USIC HOLDINGS INC, 1/31/2024
639627
$18 60
PWTR/SWM-AG19-078 UGD ULT LOCA
290215
2/29/2024
USIC HOLDINGS INC, 1/31/2024
639627
$6 53
PWTR/SWM-AG19-078 UGD ULT LOCA
290120
2/29/2024
INTERCOM LANGUAGE SVCS2/9/2024
24-090
$1.767.50
MC -INTERPRETER SVC
290081
2/29/2024
AKTELEPROMPT LLC, 2/16/2024
24047
$550.00
IT - AV EQUIPMENT RENTAL FOR M
290081
2/29/2024
AKTELEPROMPT LLC, 2/16/2024
24047
$600 00
IT - AV EQUIPMENT RENTAL FOR M
290081
2/29/2024
AKTELEPROMPT LLC, 2/16/2024
24047
$550.00
IT -AV EQUIPMENT RENTAL FOR M
290081
2/29/2024
AKTELEPROMPT LLC, 2/16/2024
24047
$600.00
IT -AV EQUIPMENT RENTAL FOR M
290178
2/29/2024
SAFAROVA-DOWNEY, ALMIRA2/13/2024
02/13/24
$140,00
MC -INTERPRETER SVC
290077
2/29/2024
ABOU-ZAKI, KAMAL 2/13/2024
02/13/24
$118.00
MC -INTERPRETER SVC
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$1,308,64
Sales Tax
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$506.42
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$964.55
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$433.44
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$288,96
IT-AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$722.40
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$175.92
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$9,609.90
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$210 26
IT - AVIGILON CAMERAS FOR TOWN
290184
2/29/2024
SECURITY SOLUTIONS NW IN2/19/2024
354404
$45.00
Freight
290118
2/29/2024
INLIFE CLINIC LLC, 1/31/2024
FWPD013124
$800 00
PD-CONSULTING SVCS
290132
2/29/2024
LANGUAGE LINE SERVICES, 11/31/2024
11205829
$475.40
PD-AG21-199 LANGUAGE SVC
Key Bank
Page 33 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290132
2/29/2024
LANGUAGE LINE SERVICES, 11/31/2024
11224691
$0 20
MC-AG21-199 LANGUAGE SVC
290150
2/29/2024
NEOGOV, GOVERNMENT JOB3/15/2024
INV-27457
$14.373 56
HR-SUBSCR. 03/15/24-03/14/25
290205
2/29/2024
THUILLIER, JENNIFER 1/31/2024
202410
$110.00
PWST-GRAPHIC DESIGN SERVICES F
290163
2/29/2024
PIERCE COUNTY SECURITY 112/5/2024
0431131
$300.00
PKM-AG23-207 SECURITY SERVICES
290074
2/29/2024
VERRA MOBILITY, 12/31/2023
INV0067884
$52,250.00
PD-AG21-034 PHOTO ENFORCEMENT
290078
2/29/2024
ADURO LLC, 1/31/2024
INV6974
$1,659.45
HR-AG19-209 WELLNESS PGM-
290122
2/29/2024
JIMENEZ PRODUCTIONS, DAU2/9/2024
0026
$830.00
IT-AG23-010 VIDEO PRODUCTION S
290228
2/29/2024
WEST COAST CODE CONSUI22/2/2024
UT24-FED-001
$1,350.00
CD-AG19-070 BUILDING DIVISION
290203
2/29/2024
THE TIGER KIDS, 2/14/2024
02/14/24
$1,596.00
PARKS-AG19-217 MARTIALART CLA
290122
2/29/2024
JIMENEZ PRODUCTIONS, DAV2/13/2024
0027
$70 00
IT-AG23-010 VIDEO PRODUCTION S
290185
2/29/2024
SEMISI-TUPOU, VAIVAO T 2/13/2024
02/13/24
$140.00
MC -INTERPRETER SERVICES
290122
2/29/2024
JIMENEZ PRODUCTIONS, DAV2/20/2024
0028
$157.50
IT-AG23-010 VIDEO PRODUCTION S
290179
2/29/2024
SAFAROVA-DOWNEY, ALMIRA2/20/2024
02/20/24
$140.00
MC -INTERPRETER SVC
290185
2/29/2024
SEMISI-TUPOU, VAIVAO T 2/20/2024
02/20/24
$175.00
MC -INTERPRETER SERVICES
290131
2/29/2024
LANE POWELL PC, 2/13/2024
3920498
$12.692 00
PW-AG19-225 LEGALSERVICES-
290144
2/29/2024
MOSS & BARNETT, 2/16/2024
802068
$378 00
LAW-18-046 LEGAL SVC CABLE FRA
290122
2/29/2024
JIMENEZ PRODUCTIONS, DAV2/15/2024
0029
$1,960 00
IT-AG23-010 VIDEO PRODUCTION S
290199
2/29/2024
SUMMIT LAW GROUP, 2/21/2024
151769
$3,619.00
HR-LEGAL SVCS
290185
2/29/2024
SEMISI-TUPOU, VAIVAO T 2/7/2024
02/07/24
$140 00
MC -INTERPRETER SERVICES
290178
2/29/2024
SAFAROVA-DOWNEY,ALMIRA2/7/2024
02/07/24
$140.00
MC -INTERPRETER SVC
290185
2/29/2024
SEMISI-TUPOU, VAIVAO T 2/6/2024
02/06/24
$140.00
MC -INTERPRETER SERVICES
290235
3/5/2024
HARMONY KINGS, 3/5/2024
12/28/23
$5,000.00
MOED-REISSUE CHECK#289853
290238
3/6/2024
FEDERAL WAY SYMPHONY OF12/16/2023
2023-2
$4,800.00
PARKS-AG23-101 CONCERT SERIES-
227249983
3/9/2024
WA STATE DEPT OF LICENSIN2/27/2024
0-082-609-983
$60.00
HR-DRIVING RECORDS
290326
3/15/2024
HELIX DESIGN GROUP INC; 2/23/2024
A23-08702232024
$559,925.68
PW-AG20-925 OPT & MAINT FACILI
290337
3/15/2024
JIMENEZ PRODUCTIONS, DAV2/27/2024
0030
$87.50
CC-AG23-010 FEDRAC MTG
Key Bank
Page 34 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290332
3/15/2024
INTERCOM LANGUAGE SVCS2/23/2024
24-102
$2,717.50
MC -INTERPRETER SVC
290278
3/15/2024
CODE PUBLISHING COMPANY2/23/2024
GC10013319
$232-87
CK-REVISED CODE
290340
3/15/2024
KAY CATERING, 3/7/2024
3406
$20,993.10
DBC-AG23-024 DUMAS BAY CATERIN
290337
3/15/2024
JIMENEZ PRODUCTIONS, DAV3/712024
0034
$875 00
IT-AG23-010 VIDEO PRODUCTION S
290293
3/15/2024
EDWARD NELSON LAW OFFIC3/1/2024
2024-02
$2.065.00
MO-AG21-160 PUBLIC DEFENSEATT
290337
3/15/2024
JIMENEZ PRODUCTIONS, DAV3/4/2024
0031
$140 00
CC-AG23-010 LUTC MTG
290337
3/15/2024
JIMENEZ PRODUCTIONS, DAV3/5/2024
0032
$157.50
IT-AG23-010 REG COUNCIL MTG
290405
3/15/2024
SEMISI-TUPOU, VAIVAO T 3/5/2024
3/05/24
$140.00
-
MC -INTERPRETER SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431878
$22,385.00
PKM-AG23-207 SECURITY SERVICES
290362
3/15/2024
MINUTEMAN PRESS OF FEDE2/29/2024
6105
$269.39
SWR-AG22-140 PRINT & DISTRIBUT-
290416
3/15/2024
SOUTH SOUND OUTREACH S5/1612023
2ND QTR 2023 REISSUE
$2,582.83
CDHS-AG21-076 COVID RESPONSE F
290244
3/15/2024
ACCOUNTEMPS (ROBERT HAS/1212024
63326960
$1,539.20
MO-ADMINSTRATIVE TEMP
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428545
$180.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428752
$375 00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428472
$180.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428500
$175.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428501
$180.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428544
$180.00
PKM-AG23-207 SECURITY SERVICES
290416
3/15/2024
SOUTH SOUND OUTREACH S5/16/2023
1ST QTR 2023
REISSUE
$2,959.97
CDHS-AG21-076 COVID RESPONSE F
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428764
$180.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 1112/6/2023
428467
$300.00
PKM-AG23-207 SECURITY SERVICES
290274
3/15/2024
CITY OF RENTON, 2/28/2024
59863
$57,980.00
CDHS-RENTON MOU 2024
290416
3/15/2024
SOUTH SOUND OUTREACH S10/13/2023
3RD QTR 2023 REISSUE
$2,918.35
CDHS-AG21-076 COVID RESPONSE F
290275
3/15/2024
CITY OF TUKWILA, 2/23/2024
MR000116
$8,000.00
CDHS-MOU CHILD THERAPY CENTR
290261
3/15/2024
BID DECON SOLUTIONS LLC, 2/8/2024
3624
$4,287-29
CD -WASTE DISPOSAL
290293
3/15/2024
EDWARD NELSON LAW OFFIC2/6/2024
2024-01
$4.595.00
MO-AG21-160 PUBLIC DEFENSE ATT
Key Bank Page 35 of 48
Check No.
Date
Vendor _ Invoice Date
Invoice
Description
AmountGL Total
290388
3/15/2024
PRISMA INTERNATIONAL INC,2/8/2024
108491
$177.50
SWR-WRITTEN WORD TRANSLATION S
290438
3/15/2024
UTILITIES UNDERGROUND, 2/29/2024
4020155
$414.48
SWM-LOCATING SVC AG13-018-
290419
3/15/2024
STYRO RECYCLE LLC, 2/26/2024
335-FEB
$1,600.00
SWR-PROVIDE COLLECTION PO# 069
290270
3/15/2024
CHRIS LEAVITT PHOTOGRAP027/2024
52771
$1,387 26
MO -PHOTOGRAPHY SERVICES
290244
3/15/2024
ACCOUNTEMPS (ROBERT HAl2/27/2024
63266571
$615.68
MO-ADMINSTRATIVE TEMP
290389
3/15/2024
PROTECT YOUTH SPORTS, 2/29/2024
1141004
$230 00
HR-BACKGROUND CHECKS
290284
3/15/2024
CORRECTIONS SOFTWARE, cl/l/2024
55076
$500.00
MC-02/24 PROBATION COMPUTER SY
290269
3/15/2024
CENTERSTAGE THEATREAR11/13/2024
11324-KFTJANDEC23
$6,420 00
DBC-AG23-138 THEATRE PRODUCTIO
290407
3/15/2024
SEQUENTIAL ENVIRON SVCS217/2024
260511
$165 15
FWCC-GREASE TRAP SVCS
290413
3/15/2024
SKCSRA-SOCCER REFEREES2/12/2024
2599
$1,104 00
PARKS-AG18-009 SOCCER REFEREE
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431896
$300 00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY ll3/5/2024
431901
$180.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431932
$175.00
PKM-AG23-207 SECURITY SERVICES
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431933
$180.00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431978
$180.00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
431979
$180 00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
432185
$375.00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
432196
$180.00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY ll3/5/2024
432223
$300 00
PARKS-AG23-207 SECURITY SERVIC
290381
3/15/2024
PIERCE COUNTY SECURITY 113/5/2024
432260
$180.00
PARKS-AG23-207 SECURITY SERVIC
290428
3/15/2024
THUILLIER, JENNIFER 3/1/2024
202411
$113 00
SWM/SWR-GRAPHIC DESIGN FOR OUT
290388
3/15/2024
PRISMA INTERNATIONAL INC,2/29/2024
109373-X
$107.30
SWM-WRITTEN WORD TRANSLATION S
290405
3/15/2024
SEMISI-TUPOU, VAIVAO T 2/21/2024
02/21/24
$140.00
MC -INTERPRETER SERVICES
290250
3/15/2024
AHBL INC, 1/31/2024
143468
$23,020.00
PKM-AG23-174 BROOKLAKE & STEEL
290370
3/15/2024
NARRIANA SILVA, MAGIC IN T12/14/2024
02/14/24
$112.00
PARKS -CHARACTER ENTERTAINMENT
290269
3/15/2024
CENTERSTAGE THEATRE ART1/15/2023
121323-KFTDEC2022
$512.50
DBC-AG23-138 THEATRE PRODUCTIO
Key Bank
Page 36 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290246
3/15/2024
ADURO LLC, 11/30/2023
INV6865
$1,686.93
HR-AG19-209 WELLNESS PGM
290244
3/15/2024
ACCOUNTEMPS (ROBERT HA13/5/2024
63295772
$1,539.20
MO-ADMINSTRATIVE TEMP
290337
3/15/2024
JIMENEZ PRODUCTIONS, DAV3/7/2024
0033
$805.00
IT-AG23-010 VIDEO PRODUCTION S
290332
3/15/2024
INTERCOM LANGUAGE SVCS3/1/2024
24-111
$942.50
MC -INTERPRETER SVC
290322
3/15/2024
H2 GOVERNMENT RELATION;3/l/2024
H2_CFW 2550
$3,500.00
MO-AG21-013 LOBBYING SVC—
PUBLIC UTILITY SERVICES
$54.89
290092
2/29/2024
COMCAST OF WASHINGTON 12/1/2024
8498 34 016 1554623
$54,89
FWCC-02/24 CABLE SVC
PW - CLAIMS PROPERTY
$4,878.27
290125
2/29/2024
KING COUNTY FINANCE DIVIS1/31/2024
131863-131865
$4.878.27
RM-RSD FW#131863-131865
RENTAL CARS/GROUND TRANSPORT
$45.92
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY
VISA
$25 27
MO -TAXIS
225244759
2/25/2024
US BANK, 2125/2024
JAN 2024 CITY
VISA
$20.65
FI-TAXI S
RENTAL OF FURNITUREIEQUIPMENT
$6,563.22
290356
3/15/2024
MACHINERY POWER & EQUIP2/20/2024
G2141801
$2,841 68
PKM-EQUIPMENT RENTAL
290324
3/15/2024
HEAD -QUARTERS PTS, 2/29/2024
63196
$2,480 00
PKM-AG18-017 PORTABLE TOILETS
290357
3/15/2024
MACHINERY POWER & EQUIP10131/2023
G2111601
$1,241.54
PWST-MAINT SUPPLIES
REPAIR & MAINT SUPPLIES
$17,529.62
225244759
2/25/2024
US BANK, 2/25/2024
JAN 2024 CITY VISA
$166.40
FWCC-MAINT SUPPLIES
290186
2/29/2024
SHERWIN-WILLIAMS CO, 2/6/2024
4840-6
$518.68
PKM-FACILITIES PAINT SUPPLIES
290156
2/29/2024
ORCA PACIFIC INC, 2/16/2024
INV0607923
$991 93
PARKS -POOL CHEMICALS AG17-002
290156
2/29/2024
ORCA PACIFIC INC, 2/9/2024
INV0607860
$1.551.18
FWCC-POOL CHEMICALS MAINTAG09
290156
2/29/2024
ORCA PACIFIC INC, 1/5/2024
INV0607471
$1,122.07
PARKS -POOL CHEMICALS AG17-002
290156
2/29/2024
ORCA PACIFIC INC, 1/12/2024
INV0607557
$1,157.64
PARKS -POOL CHEMICALS AG17-002
290104
2/29/2024
FERGUSON ENTERPRISES, IM/30/2024
2270646
$16.10
PKM-REPAIR/MAINTENANCE SUPPLIE
290097
2/29/2024
CORLISS RESOURCES INC, 2/7/2024
2041536
$252.16
FWCC-CONCRETE SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/8/2024
2041642
$293.83
FWCC-CONCRETE SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/9/2024
2041739
$538.45
FWCC-CONCRETE SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/12/2024
2041845
$809.97
FWCC-CONCRETE SUPPLIES
Key Bank
Page 37 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290079
2/29/2024
AGRISHOP INC, 2/20/2024
C76129/1
$495.86
PKM-MAINT SUPPLIES
290116
2/29/2024
HOME DEPOT-DEPT 32-250072/9/2024
7025527
$18 29
PKM-REPAIR & MAINT SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/13/2024
2041935
$1,931.00
FWCC-CRUSHED ROCK
290212
2/29/2024
ULINE, 2/18/2024
173344315
$363.73
CHB-MAINT SUPPLIES
290156
2/29/2024
ORCA PACIFIC INC, 2/5/2024
INV0607780
$1.208.83
PARKS -POOL CHEMICALS AG17-002
290317
3/15/2024
GRAINGER INC, 2/22/2024
9028728237
$178.02
CHB-MAINT SUPPLIES
290317
3/15/2024
GRAINGER INC, 1/30/2024
9003451102
$176 09
CHB-MAINT SUPPLIES
290414
3/15/2024
SOLID WASTE SYSTEMS INC, 3/11/2024
2541138
$1,776.44
FLT-PURCHASE OF NEW INSPECTI
290249
3/15/2024
AGRISHOP INC, 3/5/2024
71594/1
$25 97
PKM-EQUIPMENT PARTS & REPAIRS
290327
3/15/2024
HOME DEPOT-DEPT 32-250073/4/2024
3614846
$10.94
PKM-REPAIR/MAINTENANCE SUPPLIE
290249
3/15/2024
AGRISHOP INC, 3/6/2024
71607/1
$653.84
PKM-EQUIPMENT PARTS & REPAIRS
290307
3/15/2024
FLAGS A' FLYING LLC, 2/23/2024
100519
$860.12
PKM-FLAGS/ACCESSORIES
290327
3/15/2024
HOME DEPOT-DEPT 32-250072/29/2024
7032811
$190.44
PKM-REPAIR & MAINT SUPPLIES
290327
3/15/2024
HOME DEPOT-DEPT 32-250072/27/2024
9072739
$241-12
PKM-REPAIR & MAINT SUPPLIES
290373
3/15/2024
ORCA PACIFIC INC, 2/26/2024
INV0608014
$959.68
FWCC-POOL CHEMICALS AG17-002
290373
3/15/2024
ORCA PACIFIC INC, 3/1/2024
INV0608084
$1,020.84
FWCC-POOL CHEMICALS AG17-002
REPAIR PARTS
$9,680.35
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$180.82
PD-MAINT SVCS
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$5 95
PD-MAINT SVCS
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$585 25
PD-OPER SUPPLIES
290149
2/29/2024
NAPA AUTO PARTS, 2/15/2024
142644
$7613
FLT-REPAIR & MAINT SUPPLIES
290157
2/29/2024
O'REILLYAUTO PARTS, 2/16/2024
3710-229061
$19.81
FLT-SUPPLIES
290149
2/29/2024
NAPA AUTO PARTS, 2/14/2024
142544
$196.19
FLT-REPAIR & MAINT SUPPLIES
290181
2/29/2024
SEATTLE AUTOMOTIVE, DIST12/7/2024
S5-8757174
$-17.62
FLT-REPAIR PARTS
290181
2/29/2024
SEATTLE AUTOMOTIVE, DIST12/2/2024
S5-8744089
$72,53
FLT-REPAIR PARTS
290181
2/29/2024
SEATTLE AUTOMOTIVE, DISTF1/3/2024
S5-8657171
$87.26
FLT-REPAIR PARTS
Key Bank Page 38 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290149
2129/2024
NAPA AUTO PARTS,
2/20/2024
142961
$12 10
FLT-REPAIR & MAINT SUPPLIES
290149
2/29/2024
NAPA AUTO PARTS,
2/20/2024
143019
$65 42
FLT-REPAIR & MAINT SUPPLIES
290084
2/29/2024
ARG INDUSTRIAL,
2/14/2024
T062825
$48 69
FLT-MAINT SUPPLIES
290084
2/29/2024
ARG INDUSTRIAL,
2/14/2024
T062849
$267.45
FLT-MAINT SUPPLIES
290084
2/29/2024
ARG INDUSTRIAL,
2/15/2024
T062866
$13.42
FLT-MAINT SUPPLIES
290099
2/29/2024
DOBBS PETERBILT,
2/16/2024
033P89289
$685.86
FLT-MAINT SUPPLIES
290208
2/29/2024
TITUS-WILL FORD SLS INC,
2/8/2024
304751F
$39.22
FLT-REPAIR PARTS
290084
2/29/2024
ARG INDUSTRIAL,
2/16/2024
T062912
$57.97
FLT-MAINT SUPPLIES
290369
3/15/2024
NAPAAUTO PARTS,
2/23/2024
143251
$40.92
FLT-REPAIR & MAINT
290255
3/15/2024
ARG INDUSTRIAL,
2/22/2024
T063024
$115.28
FLT-REPAIR PARTS
290255
3/15/2024
ARG INDUSTRIAL,
2/22/2024
T063056
$9.81
FLT-REPAIR PARTS
290302
3/15/2024
FASTENAL,
2/23/2024
WAAUB100679
$102.47
FLT-MAINT SUPPLIES
290255
3/15/2024
ARG INDUSTRIAL,
2/23/2024
T063081
$8 86
FLT-REPAIR PARTS
290255
3/15/2024
ARG INDUSTRIAL,
2/27/2024
T063175
$95.43
FLT-REPAIR PARTS
290420
3/15/2024
SYNOVIA SOLUTIONS LLC,
11/29/2023
478182 TAX
$81.13
FLT-CABLE
290369
3/15/2024
NAPA AUTO PARTS,
2/26/2024
143450
$774.77
FLT-REPAIR & MAINT
290369
3/15/2024
NAPA AUTO PARTS,
2/26/2024
143480
$4.39
FLT-REPAIR & MAINT
290369
3/15/2024
NAPA AUTO PARTS,
2/27/2024
143517_
$58.53
FLT-REPAIR & MAINT
290369
3/15/2024
NAPA AUTO PARTS,
2/27/2024
143572
$137.36
FLT-REPAIR & MAINT
290291
3/15/2024
DON SMALL & SONS OIL DIST2/15/2024
S252213
$2,206 75
FLT-DIESEL FUEL
290378
3/15/2024
PEAK INDUSTRIAL INC, PEAK 1/11/2024
PSI-322985
$259.36
FLT-REPAIR PARTS
290378
3/15/2024
PEAK INDUSTRIAL INC, PEAK 1/1212024
PSI-323370
$110.03
FLT-REPAIR PARTS
290445
3/15/2024
VILMASIGNS,
2/15/2024
4499
$2,674.88
FLT-MAINT SUPPLIES
290442
3/15/2024
VERMEER NORTHWEST SALE2/8/2024
08105063
$62 51
FLT-REPAIR PARTS
290369
3/15/2024
NAPA AUTO PARTS,
1/31/2024
141499
$189 93
FLT-REPAIR & MAINT
290369
3/15/2024
NAPA AUTO PARTS,
2/22/2024
143202
$202 12
FLT-REPAIR & MAINT
Key Bank
Page 39 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290369
3/15/2024
NAPA AUTO PARTS, 2/21/2024
143109
$149.37
FLT-REPAIR & MAINT
REPAIRS AND
MAINTENANCE
$138,607.12
225243793
2/25/2024
US BANK, 2/25/2024
JAN 2024 PD VISA
$208.03
PD-MAINT SVCS
290147
2/29/2024
MV TOWING LLC, 1/21/2024
30437
$77.07
PD-VEHICLE TOW
290158
2/29/2024
PAPE MACHINERY INC, 1/30/2024
6608950
$884.01
FLT-AG24-021 24-26 PK&REC GUID
290147
2/29/2024
MV TOWING LLC, 2/2/2024
30866
$77.07
PD-VEHICLE TOW
290095
2/29/2024
COPIERS NORTHWEST INC, 1/31/2024
INV2779186
$155.49
IT-AG21-019 PRINTER/COPIER MAI
290095
2/29/2024
COPIERS NORTHWEST INC, 1/31/2024
INV2779186
$894.03
IT-AG21-019 PRINTER/COPIER MAI
290095
2/29/2024
COPIERS NORTHWEST INC, 1/31/2024
INV2779186
$894.04
IT-AG21-019 PRINTER/COPIER MAI
290143
2/29/2024
MORGAN SOUND, INC, 8/2/2017
MS1091753
$-1,115.73
FWCC-SERVICE CALL
290195
2/29/2024
SPRAGUE PEST CONTROL, 2/7/2024
5354843
$146.54
PKM-FACILITIES PEST CONTROL S
290147
2/29/2024
MVTOWING LLC, 2/9/2024
31419
$77.07
PD-VEHICLE TOW
290230
2/29/2024
WHITMAN GLOBAL CARPET C2/9/2024
553963
$2,455.53
CHB-AG20-949 CARPET CLEANING S
290230
2/29/2024
WHITMAN GLOBAL CARPET C2/9/2024
553964
$130.20
CHB-AG20-949 CARPET CLEANING S
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/5/2024
63360
$495.45
PD-VEH MAINT SVC
290145
2/29/2024
MT VIEW LOCATING SERVICE2/6/2024
22351.35381
$237,50
PKM-LOCATING SVC
290147
2/29/2024
MV TOWING LLC, 2/6/2024
30867
$220.20
PD-VEHICLE TOW
290147
2/29/2024
MV TOWING LLC, 2/6/2024
31354
$77.07
PD-VEHICLE TOW
290169
2/29/2024
PRS GROUP INC, 2/13/2024
105227
$1,255,23
SWM-WASTE DISPOSAL
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/16/2024
63395
$176,16
PD-VEH MAINT SVC
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/16/2024
63396
$176,16
PD-VEH MAINT SVC
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/16/2024
63397
$385.35
PD-VEH MAINT SVC
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/16/2024
63398
$385.35
PD-VEH MAINT SVC
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/21/2024
63512
$176.16
PD-VEH MAINT SVC
290143
2/29/2024
MORGAN SOUND, INC, 2/19/2024
MS1116727
$1,749,49
FWCC-SERVICE CALL
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/13/2024
63386
$160.00
PD-VEHICLE CLEANING SVC
Key Bank Page 40 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290168
2/29/2024
PRO TOUCH AUTO INTERIOR 2/13/2024
63386
$16.16
Sales Tax
290206
2/29/2024
THUNDERING OAK ENTERPRI2/21/2024
12501
$1,073.48
PKM-AG19-115 TREE SVC AGREEMEN
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/17/2024
201210
$208.67
FLT-VEH MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/19/2024
201255
$2,955.13
FLT-VEH MAINT
290133
2/29/2024
LARSEN SIGN CO., 2/20/2024
33822
$814.74
PD-VEH GRAPHICS
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/15/2024
201165
$28.63
PD-VEH MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/15/2024
201172
$688.72
PD-VEH MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/15/2024
201173
$1,314.16
PD-VEH MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/15/2024
201177
$1,094.74
PD-VEH MAINT
290194
2/29/2024
SPEEDY GLASS - TACOMA, 2/16/2024
i-6005-1013834-o
$33.03
PD-VEHICLE WINDSHIELD REPAIR
290116
2/29/2024
HOME DEPOT-DEPT 32-250072/8/2024
8213747
$43.42
SWM-REPAIR & MAINT SUPPLIES
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (217/2024
200974
$231.23
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/2/2024
200881
$373.81
PD-VEHICLE MAINT
290202
2/29/2024
TERMINIX, 2/2/2024
443094929
$116.71
FWCC-PEST CONTROL
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/5/2024
200932
$184 58
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/5/2024
200942
$141.85
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/1/2024
200855
$97.99
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/1/2024
200856
$295.76
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/16/2024.
201187
$300.98
FLT-VEH MAINT
290201
2/29/2024
SYSTEMS FOR PUBLIC SAFE12/16/2024
46145
$505.04
PD-VEH MAINT SVCS
290136
2/29/2024
MACMOR INC, 2/13/2024
18812
$6,22122
PWST/SWR-AG23-006 2023 RIGHT-O
290136
2/29/2024
MACMOR INC, 2/13/2024
18812
$1,020.76
PWST/SWR-AG23-006 2023 RIGHT-O
290229
2/29/2024
WHIRLWIND SERVICES INC, V2/9/2024
4124
$62.76
PARKS-AG24-004 PARKING LOT SWE
290105
2/29/2024
FERRELLS FIRE EXTINGUISHI2/8/2024
37960
$2,082.54
PKM-FIRE EXTING SVC
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/7/2024
200994
$184.44
FLT-VEH MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/8/2024
201001
$144.24
FLT-VEH MAINT
Key Bank Page 41 of 48
Check No.
Date
Vendor Invoice Date
Invoice _
Description
AmountGL Total
290140
2/29/2024
MCDONOUGH & SONS INC, 1/31/2024
272845
$10,964.66
SWM-AG23-008 2023 STREET SWEEP
290063
2/29/2024
ACTION SERVICES CORPORA9/25/2023
116633
$5,909,85
SWM-AG21-023 VACTOR & INFASTRU
290071
2/29/2024
SCARFF FORD, 12/19/2023
79786
$231.36
PD-VEH MAINT SVC
290069
2/29/2024
MORGAN SOUND, INC, 12/612023
MS1115907
$396.36
FWCC-MAINT & REPAIR
290182
2/29/2024
SECOMA FENCE INC, 1/31/2024
28470
$192.41
Sales Tax
290210
2/29/2024
TRUSTED PLUMBING & HEATII/8/2024
10709
$9,028,20
PKM-REPAIR AND MAINT SVCS.
290210
2/29/2024
TRUSTED PLUMBING & HEATII/30/2024
10707
$5.725,95
PKM-REPAIR AND MAINT SVCS.
290182
2/29/2024
SECOMA FENCE INC, 1/31/2024
28470
$1.905.00
PWST-FOR REPAIR OF DAMAGED FEN
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/15/2024
201160
$131.84
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/12/2024
201105
$233.36
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/13/2024
201121
$334,04
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/14/2024
201142
$211.71
PD-VEHICLE MAINT
290236
3/5/2024
MONARCH COLLISION CENTE3/5/2024
1997
$242.41
PD-REISSUE CHECK#287229
290290
3/15/2024
DMX LLC DBA MOOD MEDIA, 3/1/2024
58064332
$56 20
IT-03/24 MEDIA SERVICES
290282
3/15/2024
COPIERS NORTHWEST INC, 2/29/2024
INV2787334
$903.16
IT-AG21-019 PRINTER/COPIER MAI
290429
3/15/2024
THUNDERING OAK ENTERPRI3/1/2024
12510
$2,917 65
PKM-AG19-115 TREE SVC AGREEMEN
290417
3/15/2024
SPRAGUE PEST CONTROL, 2/20/2024
5353488
$151 38
DBC-FACILITIES PEST CONTROL
290453
3/15/2024
WASHDUP, LLC, 3/12/2024
636
$183 30
PD-JANUARY CAR WASH SERVICE
290417
3/15/2024
SPRAGUE PEST CONTROL, 3/5/2024
5384189
$146-54
PKM-FACILITIES PEST CONTROL
290390
3/15/2024
PRS GROUP INC, 3/1/2024
105593
$2,524.83
SWM-WASTE DISPOSAL
290277
3/15/2024
COASTAL FARM & HOME SUPI2/8/2024
5290/45
$264.31
SWM-UNIFORM SUPPLIES
290344
3/15/2024
KING COUNTY FINANCE DIVIEl/31/2024
131739-131744,131865
$5,112,81
PWTR/PW-RSD PJ#131739-131744,1
290459
3/15/2024
WHIRLWIND SERVICES INC, %Pl/29/2024
3078
$139.11
PKM-AG24-004 PARKING LOT SWEEP
290390
3/15/2024
PRS GROUP INC, 2/23/2024
105463
$1,469.13
SWM-WASTE DISPOSAL
290247
3/15/2024
ADVANCED PRO FITNESS REI1/8/2024
12282402T
$484A4
FWCC-FITNESS EQUIP
290453
3/15/2024
WASHDUP, LLC, 1/31/2024
636
$7.99
FLT-JANUARY CAR WASH SERVICE
Key Bank
Page 42 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290245
3/15/2024
ACTION SERVICES CORPORA10/25/2023
117072
$2,510.28
SWM-VACTOR & INFASTRUCTURE MAI
290355
3/15/2024
MACDONALD MILLER SERVIC2/28I2024
PM139065
$9,834.13
FWCC-AG 1 9-042B HVAC SVC-
290355
3/15/2024
MACDONALD MILLER SERVIC2/28/2024
SCV290644
$1,304.57
FWCC-AG19-042B HVAC SVC-
290327
3/15/2024
HOME DEPOT-DEPT 32-250072/26/2024
0613990
$108.56
SWM-REPAIR/MAINTENANCE SUPPLIE
290376
3/15/2024
PACIFIC POWER GROUP LLC,2/23/2024
6578749-00
$776.89
CHB-AG23-124 GENERATOR MAINTEN
290355
3/15/2024
MACDONALD MILLER SERVIC2/22/2024
SVC290216
$1,363.04
CHBIFWCC-AG19-042B HVAC SVC-
290320
3/15/2024
GREENPOINT LANDSCAPING 2/25/2024
1271415812
$1,647.10
FWCC-AG19-119 LANDSCAPE MAINT
290385
3/15/2024
PRECISION CONCRETE CUTT2/23/2024
WA96405BC
$24,753.45
PWST-AG21-098 CONCRETE BEVELIN
290330
3/15/2024
HTR GLASS & CONSTRUCT102/23/2024
24002-1
$5,136.17
CHB-AG20-018 DOOR & WINDOW MAI
290421
3/15/2024
SYSTEMS FOR PUBLIC SAFE12/2312024
44895
$52.02
PD-VEH MAINT SVC
290421
3/15/2024
SYSTEMS FOR PUBLIC SAFE12/23/2024
46090
$1,250.33
PD-VEH MAINT SVC
290366
3/15/2024
MT VIEW LOCATING SERVICE3/4/2024
22351.35638
$525,00
PKM-LOCATING SERVICES
290408
3/15/2024
SEQUENTIAL ENVIRON SVCS 3/5/2024
262724
$165.15
DBC-GREASE TRAP SVCS
290327
3/15/2024
HOME DEPOT-DEPT 32-250072/29/2024
7514446
$95.47
SWM-REPAIR/MAINTENANCE SUPPLIE
290327
3/15/2024
HOME DEPOT-DEPT 32-250073/l/2024
6614503
$23.05
SWM-REPAIR & MAINT SUPPLIES
290435
3/15/2024
TRUSTED PLUMBING & HEAT12/27/2024
10824
$5,499.99
PKM-REPAIR AND MAINT SVCS
290361
3/15/2024
METRO GLASS CO INC, 2/26/2024
230901
$1,301.38
CHB-MAINT SVC
290417
3/15/2024
SPRAGUE PEST CONTROL, 2/28/2024
5354809
$86.59
PKM-FACILITIES PEST CONTROL
290282
3/15/2024
COPIERS NORTHWEST INC, 2/27/2024
INV2785466
$530.17
IT-AG21-019 PRINTER/COPIER MAI
290282
3/15/2024
COPIERS NORTHWEST INC, 2/27/2024
INV2785465
$132.98
IT-AG21-019 PRINTER/COPIER MAI
290432
3/15/2024
TOTAL LANDSCAPE CORPOR2/29/2024
94568
$1,030.54
DBC-AG19-224 LANDSCAPE MAINT S
ROAD SVCSIPERMITS-INTGVT
$21,932.16
290447
3/15/2024
WA STATE DEPT OF ECOLOG12/23/2024
24-WAR045516B-1
$19,755.00
SWM-FY 2024 FEE 24-WAR045516B-
290449
3/15/2024
WA STATE DEPT OF TRANSPC2113/2024
RE 41 JZ1812
L007
$809.46
PW-PROJECT JZ1812 FEES
290344
3/15/2024
KING COUNTY FINANCE DIVIS1/31/2024
131739-131744,131865
$162.69
PWTR/PW-RSD PJ#131739-131744.1
290344
3/15/2024
KING COUNTY FINANCE DIVIS1/31I2024
131739-131744,131865
$1,205.01
PWTR/PW-RSD PJ#131739-131744,1
SALES TAX PAYABLE
$6,116.19
Key Bank Page 43 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$6,113.37
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$1 82
FI-01/24 REMIT SALES TAX
SALES TAX PAYABLE-RECREAT
$15,053.75
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$398.48
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$12.216 69
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$2,438.58
FI-01/24 REMIT SALES TAX
SEWER BILLINGS
$840.15
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/9/2024
460602
$564.10
PKM-01 /24 2645 312TH ST S #191
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/9/2024
3671801
$69.70
PKM-12/23 31600 20TH AVE S. M#
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
888302
$85 15
PKM-12/23 31104 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
899802
$12120
PKM-12/23 2410 312TH ST S BEAC
SMALL OFFICE APPARATUS
$12,744.63
290216
2/29/2024
VARI SALES CORPORATION, 2/5/2024
91055296
$5.375.64
PWST-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038686
$153,59
SWM/PWST/PWfR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038687
$128.82
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91039113
$3.402.09
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91039113
$3,402.09
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038686
$153.59
SWM/PWST/PWTR-ENG DIV REMODEL
290073
2/29/2024
VARI SALES CORPORATION, 12/28/2023
91038687
$128.81
SWM/PWST/PWTR-ENG DIV REMODEL
SMALL TOOLS - SHOP
$1,651.89
290067
2/29/2024
JENNINGS EQUIPMENT INC, 12/11/2023
49245P
$225.82
PWST-MAINT SUPPLIES
290067
2/29/2024
JENNINGS EQUIPMENT INC, 11/16/2023
48781P
$236 35
PWST-MAINT SUPPLIES
290121
2/29/2024
JENNINGS EQUIPMENT INC, 2/6/2024
50247P
$166 79
PWST-MOWER REPAIR PARTS/SUPPLI
290121
2/29/2024
JENNINGS EQUIPMENT INC, 1/26/2024
50041P
$438.12
PWST-REPAIR PARTS/SUPPLIES
290116
2/29/2024
HOME DEPOT-DEPT 32-2500721912024
7213750
$1.65
PWST-REPAIR/MAINTENANCE SUPPLI
290116
2/29/2024
HOME DEPOT-DEPT 32-250072/21/2024
5213824
$12.63
PWST-REPAIR/MAINTENANCE SUPPLI
290327
3/15/2024
HOME DEPOT-DEPT 32-250073/1/2024
6021376
$134.21
CHB-REPAIR & MAINT SUPPLIES
290249
3/15/2024
AGRISHOP INC, 2/28/2024
71545/1
$354.81
PWST-EQUIPMENT PARTS & REPAIRS
Key Bank
Page 44 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290249
3/15/2024
AGRISHOP INC, 3/1/2024
71561/1
$81.51
PWST-EQUIPMENT PARTS & REPAIRS
STATE COVID-19 GRANT BUSIN
REIME
$20,186.22
290358
3/15/2024
MADCAP MARKETING, 2/27/2024
4435
$8,571.22
MOED-AG23-264 PEOPLE PLACES &
290279
3/15/2024
COLLABORATIVE PARTNERS,2/1/2024
1421
$4,132.50
MOED-AG23-257 GRANT WRITER SER
290336
3/15/2024
JAYRAY ADS & PR INC, DBAJf2/15/2024
008458
$7,482 50
MOED-AG24-006 ECON DEV COMMUN
STONE & GRAVEL
$10,396.52
290226
2/29/2024
WASHINGTON ROCK QUARRI12/10/2024
92092
$1.415-73
PKM-MAINT SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/15/2024
2042140
$2,754.24
PKM-CONCRETE SUPPLIES
290096
2/29/2024
CORLISS RESOURCES INC, 2/14/2024
2042048
$2,568.55
PKM-CONCRETE SUPPLIES
290283
3/15/2024
CORLISS RESOURCES INC, 2/29/2024
2043058
$354.58
SWM-CONCRETE SUPPLIES
290283
3/15/2024
CORLISS RESOURCES INC, 2/12/2024
2041846
$322.86
SWM-CONCRETE SUPPLIES
290283
3/15/2024
CORLISS RESOURCES INC, 2/23/2024
2042653
$195 15
SWM-CONCRETE SUPPLIES
290283
3/15/2024
CORLISS RESOURCES INC, 2/27/2024
2042858
$37421
SWM-CONCRETE SUPPLIES
290283
3/15/2024
CORLISS RESOURCES INC, 2/22/2024
2042574
$2,411.20
SWM-CONCRETE SUPPLIES
TAXES/ASSESSMENTS-INTERGOVT
$-2,262.68
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$175.90
FI-01/24 REMIT SALES TAX
290222
2/29/2024
WA STATE REVENUE DEPART2/27/2024
601-223-538
$-2,438.58
FI-01/24 REMIT SALES TAX
TIRES
$5,189.43
290100
2/29/2024
EAGLE TIRE &AUTOMOTIVE (2/8/2024
201009
$1,774.40
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/6/2024
200967
$559.46
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/9/2024
201040
$207.99
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/12/2024
201104
$1,216 08
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/1/2024
200854
$285.31
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/14/2024
201143
$207 99
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2/14/2024
201147
$880 95
PD-VEHICLE MAINT
290100
2/29/2024
EAGLE TIRE & AUTOMOTIVE (2113/2024
201136
$57 25
PD-VEHICLE MAINT
TOPSOIL
$105.12
290064
2/29/2024
CORLISS RESOURCES INC, 11/17/2023
2037249
$105.12
PWST-CONCRETE SUPPLIES
TRAFFIC INFRACTIONS
$2,743.53
Key Bank Page 45 of 48
Check No.
Date
Vendor
Invoice Date
Invoice
Description
AmountGL Total
290406
3/15/2024
SENATUS, TERRY
2/28/2024
0992100070802
$72.53
MC -REFUND VIOLATION DISMISSAL
290342
3/15/2024
KELLEY, ANDREW
2/27/2024
0992300176037
$139 00
MC -REFUND VIOLATION DISMISSAL
290424
3/15/2024
THE HOME DEPOT,
2/27/2024
0992300181516
$164.00
MC -REFUND VIOLATION DISMISSAL
290314
3/15/2024
GODFREY, CHELSEA
2/27/2024
0992300186788
$164.00
MC -REFUND VIOLATION DISMISSAL
290397
3/15/2024
RAMOS, JOHANAN ROBLES
2/27/2024
0992300196647
$139 00
MC -REFUND VIOLATION DISMISSAL
290393
3/15/2024
PV HOLDING CORP,
2/27/2024
0992300212949
$139 00
MC -REFUND VIOLATION DISMISSAL
290257
3/15/2024
ATTAWAY, RONAL
2/27/2024
0992300270178
$25.00
MC -REFUND VIOLATION DISMISSAL
290305
3/15/2024
FEDERAL WAY SCHOOL DISTF2/27/2024
0992300325345
$305.00
MC -REFUND VIOLATION DISMISSAL
290319
3/15/2024
GREEN, LAMONT
2/20/2024
0992300082508
$164.00
MC -REFUND VIOLATION DISMISSAL
290295
3/15/2024
ELLINGSON, KAY L.
2/20/2024
099230009300
$250 00
MC -REFUND VIOLATION DISMISSAL
290331
3/15/2024
HUSAIN. NAILA
2/20/2024
0992300137179
$90.00
MC -REFUND VIOLATION DISMISSAL
290456
3/15/2024
WAWERU, MARGARET
2/20/2024
0992300149133
$139 00
MC -REFUND 0992300149133
290444
3/15/2024
VILLA, FRANCIS
2/20/2024
0992300162441
$164.00
MC -REFUND VIOLATION DISMISSAL
290400
3/15/2024
SALAS, JOE
2/20/2024
0992300162490
$25.00
MC -REFUND VIOLATION DISMISSAL
290354
3/15/2024
LOZANO, SUSANO MARTINEZ2/20/2024
0992300169677
$25.00
MC -REFUND VIOLATION DISMISSAL
290311
3/15/2024
GARCIA. JAMES VALENTIN
2/20/2024
0992300169966
$210.00
MC -REFUND VIOLATION DISMISSAL
290258
3/15/2024
ATWAL, AMANPREET
2/20/2024
0992300196555
$164.00
MC -REFUND VIOLATION DISMISSAL
290350
3/15/2024
KRAUS. ALBERT JOHN
2/20/2024
0992300248893
$150.00
MC -REFUND VIOLATION DISMISSAL
290343
3/15/2024
KEMP. BOB
2/20/2024
0992300298773
$62.00
MC -REFUND VIOLATION DISMISSAL
290323
3/15/2024
HA, MIN
2/20/2024
0992300321047
$153.00
MC -REFUND VIOLATION DISMISSAL
TRANSPORTATION EQUIPMENT
$312,723.28
290135
2/29/2024
LICENSING SERVICES LTD DP2/23/2024
2/23/24
$42.50
PD-LICENSING FEES
290414
3/15/2024
SOLID WASTE SYSTEMS INC,3/11/2024
2541138
$312.680.78
FLT-PURCHASE OF ANEW INSPECTI
WASTE DISPOSAL BILLINGS
$15,445.23
290227
2/29/2024
WASTE MANAGEMENT OF WP2/1/2023
3463917-1055-2
$1,117.58
PW-01/01/24 - 01/31/24 WOOLEY
290227
2/29/2024
WASTE MANAGEMENT OF WP2/1/2024
3463892-1055-7
$5,045.00
PW-01/01/24 - 01/31/24 JACOBS
290227
2/29/2024
WASTE MANAGEMENT OF WA21112024
3463914-1055-9
$3,842.99
PW-01/01/24 - 01/31/24 CALVO
Key Bank Page 46 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGLTotal
290227
2/29/2024
WASTE MANAGEMENT OF WA21112024
3463922-1055-2
$449 45
PW-12/01/23 - 12/31/23 JACOBS
290308
3/15/2024
FOX, ERIC 3/4/2024
FOX 2024
$105.00
PWST-TIRE RECYCLE REIMB
290335
3/15/2024
JAMES SANTERELLI ENTERPf3/5/2024
224328
$675.00
SWR-PROVIDE COLLECTION, SHREDD
290454
3/15/2024
WASTE MANAGEMENT OF WA3/1/2024
3472566-1055-6
$2,294.21
PW-02/01/24 - 02/29/24 JACOBS
290454
3/15/2024
WASTE MANAGEMENT OF WA311/2024
3472572-1055-4
$197.14
PW-02/01/24- 02/29/24 PARRIS
290454
3/15/2024
WASTE MANAGEMENT OF WA3/1/2024
3472585-1055-6
$98.93
PW-02/01/24 - 02/29/24 KONG RE
290418
3/15/2024
STERICYCLE INC, 2/16/2024
8006199480
$179 50
PD-MEDICAL WASTE REMOVAL SVC
290251
3/15/2024
ALL BATTERY SALES & SERVI2/20/2024
300-10134607
$46.99
SWR-COLLECTION, TRANSPORTATION
290251
3/15/2024
ALL BATTERY SALES & SERVI2115/2024
300-10133969
$185 24
SWR-COLLECTION, TRANSPORTATION
290251
3/15/2024
ALL BATTERY SALES & SERVI2/26/2024
300-10134740
$197.23
SWR- COLLECTION, TRANSPORTATIO
290327
3/15/2024
HOME DEPOT-DEPT 32-2500712/29/2024
7201844
$725.74
PWST-REPAIR/MAINTENANCE SUPPLI
290251
3/15/2024
ALL BATTERY SALES & SERVI2/10/2024
300-10133603
$55.31
SWR-COLLECTION, TRANSPORTATION
290251
3/15/2024
ALL BATTERY SALES & SERVI2/14/2024
300-10133866
$229.92
SWR-COLLECTION. TRANSPORTATION
WATER BILLINGS
$3,257.38
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/9/2024
460602
$452.64
PKM-01 /24 2645 312TH ST S #191
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/9/2024
2049903
$32.10
PKM-01 /24 31531 1 ST AVE S M#59
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC2/9/2024
1941803
$310.45
PKM-01/24 31600 20 AVE S M#191
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
924602
$32.10
PKM-01/24 2301 S 292ND ST IRR
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
3200201
$32.10
PWST-01/24 2000 312 ST S IRR M
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
3642501
$32 10
PWST-01/24 30801 14TH AVE S M#
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
3653601
$325.64
PWST-01/24 2000 312 ST S IRR M
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
3657701
$30 19
PWST-01/24 1456 S 308TH ST 308
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
3702201
$34.28
PWST-01/24 1119 S DASH POINT R
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
3791001
$32.10
PWST-01/24 2139 S 316TH #19211
290129
2/29/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
835904
$32.10
PWST-01/24 30421 16AVE S IRR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'2/15/2024
101
$32,10
PKM-12/23 30009 16TH AVE S IRR
Key Bank
Page 47 of 48
Check No.
Date
Vendor Invoice Date
Invoice
Description
AmountGL Total
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
822402
$32.10
PKM-12/23 30009 16TH AVE S IRR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
824102
$296.84
PKM-12/23 30009 16TH AVE S IRR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
888103
$151.62
CHB-12/23 31132 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
3837901
$42.26
PKM-12/23 31201 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
2322804
$55.84
PKM-12/23 31600 20TH AVE S. M#
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
2814401
$32.10
PKM-12/23 2645 312TH IRR/ANNEX
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/9/2024
3586001
$72.88
PKM-12/23 31531 1STAVE S M#42
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/9/2024
3671801
$137 40
PKM-12/23 31600 20TH AVE S. M#
290351
3/15/2024
LAKEHAVEN UTILITY DISTRICW6/2024
2961401
$32.10
PWST-01/24 34727 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC3/6/2024
3238401
$32 10
PWST-01/24 32001 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3336201
$32.10
PWST-01/24 32409 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3336301
$32.10
PWST01/24 32402 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3383601
$32.10
PWST-01/24 33300 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3383701
$32,10
PWST-01/24 32500 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3513001
$147.76
PWST-01/24 33647 20TH AVE S IR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC'3/6/2024
3518001
$70.61
PWST-01/24 35205 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRICW6/2024
3541001
$32.10
PWST-01/24 930 348TH ST S IRR
290351
3/15/2024
LAKEHAVEN UTILITY DISTRICW6/2024
3552401
$32 10
PWST-01/24 35503 PACIFIC HWY S
290351
3/15/2024
LAKEHAVEN UTILITY DISTRICW612024
3578601
$129.78
PWST-01/24 1283 S 336TH ST M#4
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
896402
$32.10
PKM-12/23 31104 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/15/2024
899802
$234.20
PKM-12/23 2410 312TH ST S BEAC
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC211512024
888302
$49.88
PKM-12/23 31104 28TH AVE S M#2
290351
3/15/2024
LAKEHAVEN UTILITY DISTRIC2/21/2024
3033601
$137.31
PKM-12/23 28159 24TH PL S M#22
WORK RELEASE
$663.00
290065
2/29/2024
EHM WASHINGTON LLC, 12/31/2023
29908
$325.50
PD-MONITORING SVC
290065
2/29/2024
EHM WASHINGTON LLC, 12/31/2023
29910
$155.00
PD-MONITORING SVC
Key Bank Page 48 of 48
Check No. Date Vendor Invoice Date Invoice Descriotion AmountGL Total
290068 2/29/2024 MOON SECURITY SVC INC, 12/31/2023 1219091 $7.00
PD-HOUSE ARREST
290068 2/29/2024 MOON SECURITY SVC INC, 12/31/2023 1223213 $175 50
PD-HOUSE ARREST
Total $3,633,185.02
2/20/2024 CW-PAYROLL VOUCHERS 2/1-2/15 $1,973,293.50
3/05/2024 CW-PAYROLL VOUCHERS 2/16-2/29 $2,449,811.59
TOTAL FEBRUARY 2024 PAYROLL $4,423,105.09
00-
COUNCIL MEETING DATE: April 2, 2024 -ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
SUBJECT: WSCJTC TEACHER ADMINISTRATOR COACH (TAC) OFFICER INTERAGENCY AGREEMENT
POLICY QUESTION: Should the Council approve the Interagency Agreement between the City of Federal Way
and the Washington State Criminal Justice Training Commission for a FWPD officer to be assigned as an
instructor at the Basic Law Enforcement Academy?
COMMITTEE: FEDRAC MEETING DATE: March 26, 2024
CATEGORY:
® Consent ❑ Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Commander Kyle Buchanan DEPT: Police
Attachments: 1. Staff Report
2. WSCJTC Teacher Administrator Counselor (TAC) Officer Interagency Agreement
Options Considered:
1. Approve the proposed Interagency Agreement.
2. Do not approve proposed Interagency Agreement and provide direction to staff.
MAYOR'S RECOMMENDATION: Option 1.
MAYOR APPROVAL:
f 2• 1?, f DIRECTOR APPROVAL:
Can n dPce cuneiI f
Initial/Date Initial/Date
lnitial tc
COMMITTEE RECOMMENDATION: I move to forward the proposed Interagency Agreement to the April 2, 2024,
consent agenda for approval.
Coml lttee air Ca nittee Member Committee Member
PROPOSED COUNCIL MOTION: "I move approval of the proposed Interagency Agreement and authorize the
Mayor to execute said agreement. "
(BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE)
COUNCIL ACTION:
❑ APPROVED
COUNCIL BILL #
❑ DENIED
First reading
❑ TABLED/DEFERRED/NO ACTION
Enactment reading
❑ MOVED TO SECOND READING (ordinances only)
ORDINANCE #
REVISED - 4/2019
RESOLUTION #
CITY OF FEDERAL WAY
MEMORANDUM
DATE: March 26, 2024
TO: FEDRAC
VIA: Jim Ferrell, Mayor
FROM: Andy J. Hwang, Chief of Police
SUBJECT: WSCJTC Teacher Administrator Coach (TAC) Officer Interagency
Agreement
Financial Impacts:
This item will save the City of Federal Way the costs of salary and benefits (including overtime)
for one FWPD officer in exchange for the officer serving as a TAC Officer (instructor) at the
Washington State Criminal Justice Training Commission's (WSCJTC) Basic Law Enforcement
Academy (BLEA).
Background Information:
The BLEA utilizes full-time law enforcement officers, on contract, as instructors of state
mandated courses required for student officers from law enforcement agencies across the region.
This service is a recognition of the high quality of the officers from those law enforcement
agencies with officers contracted to serve as BLEA instructors. As an added benefit, participating
agencies also receive priority enrollment for student officers from that agency. This means that
participating agency students are immediately accepted into BLEA classes without the normal
extended wait times of up to 6 months. Instead, agencies with contracted officer instructors will
typically receive academy dates within 1-2 months of application for BLEA students. This
reduction of wait times will mean that FWPD BLEA students will more quickly get through the
academy and return to Federal Way for their field training and eventual deployment as solo
officers, becoming force multipliers to better address the needs of our community.
By accepting this agreement, the FWPD would send a commissioned law enforcement officer (1
FTE) to work at the BLEA for a 3-year period, with the possibility of a 1-year extension.
WASHINGTON STATE
CRIMINAL JUSTICE TRAINING COMMISSION
y
kJASHiNGr4N
Monica A. Alexander, Executive Director
19010 1 st Avenue South • Burien, WA 98148 • Phone: 206-835-7300 • www.cotc.wa.gov
INTERAGENCY AGREEMENT No.
This agreement, hereinafter referred to as the "Agreement", is made and entered into by and between the
Washington State Criminal Justice Training Commission, hereinafter referred to as the "WSCJTC", and the
Federal Way Police Department, hereinafter referred to as the "Agency".
Whereas the WSCJTC, pursuant to Chapter 43.101 RCW, is empowered to provide programs and standards
for the training of criminal justice personnel and in conjunction therewith may contract with individuals and
agencies for the purpose of training; and
Whereas William Lemmon is employed by the Agency as an employee, holding the position of Detective
therein; and
Whereas the Agency has the ability to provide the full-time services of William Lemmon (hereinafter
referred to as the "TAC Officer" and the part-time services of Agency personnel (hereinafter referred to as
"Instructors") for the purposes of administering and conducting Basic Training Academies, including the
Basic Law Enforcement Academy; and
Now therefore, for and in consideration of the mutual promises set forth hereafter, the parties hereto
mutually agree as follows:
1. Term
This Agreement shall commence on the 1st day of April, 2024 and terminate on the 31st day of March,
2027, subject to prior termination as provided herein and unless as extended by written mutual
agreement of the parties hereto.
2. Full -Time TAC Officer
The Agency shall provide the full-time services of a TAC Officer to the WSCJTC for the purpose of
administering, conducting, and presenting the Washington State Basic Training Academies held at the
Headquarters Campus. Services provided can be found in Section (4).
a. Payment for TAC Officer
WSCJTC will reimburse to the Agency the full salary, and overtime worked in service to the WSCJTC,
of the TAC Officer, including all benefits and all increases to said salary or benefits, during the
period of the TAC Officer's service to the WSCJTC as a TAC Officer. WSCJTC shall pay said
reimbursement amount upon submission by the Agency of an invoice to WSCJTC.
3. Part -Time Instructors
The Agency may provide to the WSCJTC the part-time services of on -duty and qualified Agency
personnel to provide academy instruction and instructional support. These part-time Instructors must
be approved by the WSCJTC Basic Training Division Commander prior to instructing WSCJTC courses.
Assignments will be submitted to the WSCJTC Basic Training Division Commander for approval. Services
provided can be found in Section (4).
The Agency will send detailed invoices to WSCJTC at the end of each month that include the following:
TRAINING THE GUARDIANS OF DEMOCRACY
March 11, 2024
Page 2
• Appropriate Statewide Vendor Number
■ Instructor name
■ Subject taught
■ Dates and hours worked
■ Dollar amount
• Academy class number
a. Payment for Part -Time Instructors
WSCJTC will reimburse the Agency for the payment of part-time Instructors, which are the Agency's
employees. The hourly rate assigned to each Tnstructor will be based on the WSCJTC Contractor Pay
Scale. WSCJTC will notify the Agency upon the approval of any revision to the pay scale. WSCJTC
shall pay said reimbursement amount upon submission by the Agency of an invoice to WSCJTC.
4. Instructional Services Provided
The TAC Officer and Instructors provide academy instruction and instructional support. Such services
may include, but not be limited to:
• Being familiar with, and adhering to, the policies and procedures of the Basic Training Division
and the WSCJTC
• Coordinating with the Assistant Commander to ensure that all training materials and equipment
are available and ready for use and are in good working order
■ Being familiar with the course lesson plan prior to instruction
• Participating in course briefing and debriefing
• Providing instruction and delivering written and practical exercises in assigned courses as
prescribed in the course lesson plan(s)
• Supporting and assisting with practical training exercises
• Tutoring/counseling academy attendees
• Proctoring recruit testing to ensure compliance with established expectations
• Evaluating recruit performance in accordance with established rubrics
• Maintaining accurate student attendance and performance records as required
• Ensuring that all equipment used in the instruction are properly stored and/or cleaned upon the
completion of instruction and any damaged or dysfunctional equipment is reported to the
Assistant Commander, or their designee, as soon as possible after the training session
• Suggesting revisions to academy programs, and curriculum in accordance with the policies and
procedures of the WSCJTC to ensure that all materials are current, relevant, and rigorous
S. Payment
Compensation for the work provided in accordance with this Agreement has been established under
the terms of RCW 39.34.130. All costs shall be reimbursed monthly, when applicable.
6. Billing Procedures
The Agency shall submit an invoice to WSCJTC at the end of each month in which services were
provided. WSCJTC shall pay the Agency for all approved and completed work by warrant or account
transfer within thirty (30) days of invoicing.
All invoices shall be submitted to:
Registered Mail
Electronic Mail
March 11, 2024
Page 3
WSCJTC basictraining@cjtc.wa.gov
Attn: Brian Elliott, Fiscal Manager
19010 1st Ave S
Burien, WA 98148
7. Agreements Outside of this Agreement
This Agreement contains the complete agreement between the parties and shall, as of the effective
date hereof, supersede all agreements, either written or oral, between the parties. The parties agree
that neither of them has made any representations with respect to the subject matter of this
Agreement or any representations, including the executing and delivery hereof, except such
representations as are specifically set forth herein; and each of the parties hereto acknowledges that it
has relied on its own judgment in entering into this Agreement.
8. Modification
No waiver or modification of this Agreement or any covenants, conditions, or limitations herein
contained shall be valid unless in writing and duly executed by the parties to be charged therewith; and
no evidence of any waiver or modification shall be offered or received in evidence of any proceeding or
litigation between the parties hereto arising out of or affecting this Agreement, or the rights or
obligations of the parties herein under, unless such waiver or modification is in writing duly executed as
aforesaid; and the parties further agree that the provisions of this section may not be waived except as
herein set forth.
9. Termination of Agreement
This Agreement may be terminated in part or whole without cause at any time by mutual agreement of
the parties hereto, or by either party after thirty -days (30) following the other party's receipt of a
written intent to terminate.
The parties retain the right to cancel this Agreement in part or whole upon ten (10) days written notice
to the other party if either party fails to properly keep any of the provisions of this Agreement. In the
event of termination under this section, the Agency will be entitled to receive, to the date of such
termination on a pro rata basis, the compensation as set forth in Section (2a and 3a) herein.
10. Health and Safety
To protect the health and safety of the WSCJTC and the students of the WSCJTC, the TAC Officer, and
Instructors employed by the Agency understand the WSCJTC maintains control over its operations and
agrees to submit to directions and protocols put in place to carry out its mission, including submitting to
infectious disease testing when directed to do so by the WSCJTC. The Instructors must report the
results to WSCJTC's confidential appointee. The Instructors agree to follow the health and safety
protocols put in place by WSCJTC during scheduled academy sessions. Failure to abide by these
requirements may result in their release from WSCJTC's service and termination of the Agreement as
set forth in Section (9).
11. Employment Obligations of Parties
The Agency agrees to pay to the TAC Officer the full salary and benefits, including all increases to said
salary and benefits, accruing to them as employees of the Agency during the period of their services
herein under. Additionally, the Agency agrees to extend to the TAC Officer all rights, privileges, and
benefits attendant to and resulting from their employment by the Agency, including any and all
March 11, 2024
Page 4
promotional opportunities otherwise available to them. The Agency further agrees that upon
completion and conclusion of the TAC Officer's service herein under, and in the absence of any
promotion or upgrading in classification which has occurred during the duration of this Agreement and
in the absence of any disciplinary action taken during the duration of this Agreement, they will be
returned and reinstated to the Agency at the same or equal commissioned rank or position which they
held on the beginning date of this Agreement.
The WSCJTC agrees to complete all necessary evaluation and documentation regarding the TAC Officer
during the period of their service herein under and as required by the Agency. The Agency reserves the
right to discipline the TAC Officer for any violation of the Agency's rules in the same manner as other
Agency employees. The WSCJTC additionally agrees to provide the TAC Officer a work and learning
experience and professional opportunities for career development and enrichment at no special cost or
direct cost to the Agency.
12. Independent Capacity
The employees or agents of each party who are engaged in the performance of this Agreement shall
continue to be employees or agents of that party and shall not be considered for any purpose to be
employees or agents of the other party.
13. Mutual Indemnification/Hold Harmless
To the extent allowed by law, the Agency shall be responsible for and shall indemnify and hold WSCJTC
harmless for all claims resulting from the acts or omissions of the Agency and its officers, officials and
employees. To the extent allowed by law, WSCJTC shall be responsible for and shall indemnify and hold
the Agency harmless for all claims resulting from the acts or omissions of WSCJTC and its officers,
officials and employees.
14. Medical/Health and Workers' Compensation Benefits
In the event of any injury to, or the illness or death of the TAC Officer or an Instructor while acting in
performance of this Agreement, the Agency agrees to extend to the TAC Officer or Instructor medical /
health and workers' compensation benefits and other compensation, to the same extent and in the
same manner as if such injury, illness, or death had occurred during work assignment in and for the
Agency.
15. Venue Stipulation
This Agreement shall be construed as having been made and delivered with the State of Washington,
and the laws of the State of Washington shall be applicable to its construction and enforcement. Any
action at law, suit in equity, or judicial proceeding for the enforcement of this Agreement or any
provision hereto shall be instituted in King County, Seattle, Washington.
16. Assignment
Each party to this Agreement stipulates that the Agreement is one for personal services and accordingly
neither party hereto may assign, sublet, or transfer any interest in this Agreement.
17. Compliance with Laws
The parties hereto agree to comply in carrying out the terms of this Agreement with all applicable
federal, state, and local laws, ordinances, and regulations, including but not necessarily limited to, the
March 11, 2024
Page 5
laws pertaining to civil rights and laws pertaining to the WSCJTC and the Agency, including merit system
rules.
18. Rights in Data
Material created from this Agreement shall be "works for hire" as defined by the U.S. Copyright Act of
1976 and shall be owned by the WSCJTC, including but not limited to reports, documents, videos,
curricular material, exams or recordings. Such materials are subject to RCW 42.56, the Public Records
Act; The WSCJTC may disclose such documents in accordance with the PRA.
19. Notices
All notices given herein shall be in writing and shall be sent by registered mail to the parties at their
recognized business addresses.
20. Headings
The article headings contained in this Agreement are inserted solely as a matter of convenience and for
reference and in no way define, limit, or describe the scope or intent of the provisions of this
Agreement.
IN WITNESS WHEREOF, the parties have affixed their signatures on the dates below.
Washington State Criminal Justice Training Commission Federal Way Police Department, Washington
Monica Alexander,
Executive Director
Criminal Justice Training Commission
19010 1st Avenue South
Burien, Washington 98148
Date Andy Hwang,
Chief of Police
Federal Way Police Department
33325 81h Avenue South
Federal Way, WA 98003
cc: Brian Elliott, Fiscal Manager, WSCJTC
William Lemmon, Detective, Federal Way PD
Nadia Fiorini, Basic Training Division Commander, WSCJTC
Jerrell Wills, Deputy Director, WSCJTC
Date
0
COUNCIL MEETING DATE: April 2, 2024 ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA SILL
SUBJECT: PUBLIC HEARING REGARDING PROPOSED DEVELOPMENT AMENDMENTS FOR THE CITY -OWNED
TC-3 PROPERTIES.
POLICY QUESTION: N/A
COMMITTEE: Land Use & Transportation MEETING DATE: March 4, 2024
CATEGORY:
❑ Consent ❑ Ordinance ® Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Keith Niven L--IU DEPT: CD
Background: The public hearing is being held regarding the proposed development agreement (FVWRC
19.85.150) for the City -owned TC-3 properties. The City and Trent Development have negotiated a proposed 30-
year agreement for development of the properties that could include up to: 1,600 residential units, 50,000 sf of
retail, 175,000 sf of office, 170,000 sf of entertainment, and 175 rooms of lodging. The hearing is a code
requirement and provides an opportunity for the community to comment on this proposed agreement before the
Council takes action.
MAYOR'S RECOMMENDATION: N/A Z_�]
MAYOR APPROVAL: N/A
Committee
InitiaUDate
DIRECTOR APPROVAL: 6 Mar 24
YInitiaUDate
COMMITTEE RECOMMENDATION: N/A
Committee Chair Committee Member Committee Member
PROPOSED COUNCIL MOTION: N/A
(BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE
COUNCIL ACTION:
❑ APPROVED COUNCIL BILL #
❑ DENIED First reading
❑ TABLED/DEFERRED/NO ACTION Enactment reading
❑ MOVED TO SECOND READING (ordinances only) ORDINANCE #
REVISED — 1/2022 RESOLUTION #
COUNCIL MEETING DATE: q G Zt 9-v,;- f
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
ITEM #:
awl
SUBJECT: ORDINANCE: TC-3 DEVELOPMENT AGREEMENT
POLICY QUESTION: Should the City enter into a development agreement with Trent Development Inc. for the
acquisition and development of the City -owned TC-3 properties?
COMMITTEE: Land Use & Transportation MEETING DATE: March 4, 2024
CATEGORY:
❑ Consent ® Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Keith Niven DEPT: CD
Attachments: 1. Staff Report
2. Ordinance
Options Considered:
1. Adopt the proposed ordinance.
2. Do not adopt the proposed ordinance and provide direction to staff.
MAYOR'S RECOMMENDATION: Option 1.
MAYOR APPROVAL: DIRECTOR APPROVAL: 2.26.24
mm se Caunril � Initial/Date
lnitial'DaEc Initial D to
COMMITTEE RECOMMENDATION: I move to forward the proposed ordinance to first reading on March 19,
2024.
c. cl700m
tte Ch r Dovey Commi ee Member Tran Committee Member Walsh
PROPOSED COU CIL MOTION(S):
FIRST READING OF ORDINANCE (3/19/24): "I move to forward the proposed ordinance to the April fV 2024
Council Meeting for second reading and enactment. "
SECOND READING OF ORDINANCE (4/2/24): "I move approval of the proposed ordinance and authorize the
Mayor to execute the proposed development agreement with Trent Development Inc. for the TC-3 properties. "
(BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE)
COUNCIL ACTION:
❑ APPROVED COUNCIL BILL #
❑ DENIED First reading
❑ TABLED/DEFERRED/NO ACTION Enactment reading
❑ MOVED TO SECOND READING (ordinances only) ORDINANCE #
REVISED — 11/2019 RESOLUTION #
�1
CITY OF FEDERAL WAY
MEMORANDUM
DATE: January 24, 2024
TO: Land Use & Transportation Committee
VIA: Jim Ferrell, Mayor
FROM: Keith Niven, AICP, CEcD W I.,
SUBJECT: TC-3 Development Agreement (DA)
Financial Impacts:
The execution of the proposed development agreement will lead to the sale of the TC-3
properties to Trent Development, LLC. for $10,000,000. In addition, development of the
properties will lead to one-time sales tax on construction and on -going sales tax from future
residents and businesses. Also, the developer will fund design of the Civic Plaza; incorporate
public art; incorporate enhanced design of street fixtures, furniture, and lighting; provide an
enhanced Road A design; maintain public access to remaining surface parking stalls North
of the PAEC and on the west leg of Road A on the property during Phase I construction;
allow public access to surface parking stalls in the Northwest Block during Phase II and III
construction at no cost to the City; and, will construct an elevator in the Southeast Block
building that will connect the sidewalk on 316th St. to the Civic Plaza, which will be
available to the public.
Background _Information:
In November 2014, the Mayor and City Council voted for the acquisition of a 7.48 acre
parcel adjacent to the soon to be developed Performing Arts and Conference Center in
downtown. The effort envisioned eventual development of a dense mix of uses featuring a
conference hotel for the Performing Arts and Conference Center along with housing,
educational/classroom space, specialty retail, civic uses and open space. A primary goal for
the town center redevelopment consists of encouraging strategic investment in a compact
environment that contains a variety of uses and creates a unique sense of place.
In November 2022, the City issued a Request for Proposals (RFP) to solicit proposals from
developers looking to purchase the property from the City and develop it. The City received
six qualified proposals and selected Trent Development as the preferred developer. In April
2023, the City Council authorized the Mayor to execute a Letter of Intent to Award with
Trent Development for the TC-3 properties.
B. PROPOSED DEVELOPMENT AGREEMENT (SUMMARY)
Rev. 7/18
Section 2_ Project Description and Entitlements
Residential: up to 1,600 units
Office: up to 175,000 sf
Entertainment: up to 170,000 sf
Lodging: up to 75 rooms and 50,000 sf of accessory space
Civic Plaza: up to $5M in cost to the City
Civic Buildings: option for City (at cost) until 1/1/2028
Section 3 — Civil Improvements
Street and ROW improvements are depicted in an Exhibit to the DA
Phasing is depicted in an Exhibit to the DA
Road A is a circular road that connects to S 314'' Street in two locations.
Section 4 — Public Benefits
Catalyst project for Downtown
Tax revenue to the City
Residential ownership opportunities (approximately 38 units)
Developer will pay for Civic Plaza design
Allowing parking for PAEC on unused portion of the property for 5+ years
Providing public art as part of the project
Helping to design downtown street furniture
No 12-year MFTE unless 8-year MFTE is terminated by the State
Section 5 — Property Acquisition
Trent Development will pay the City $10,000,000
Section 7 — Development Regulation Modification
Ground floor residential uses in lieu of non-residential around perimeter
Allow S 314t' Street improvements to sync with project phases
Road A street section deviations
Exchange of Inclusionary requirement
Allow the ground floor non-residential use to be calculated on a project basis, and not
building -by -building
Rev. 7/18
Allow portions of the non -driving surface of Road A to count toward required open space
Allow building lengths to exceed 250 feet
Section 10 — Vesting
School Impact fees = $0
Park Impact fee = $2,200
Transportation Impact fee = vested to current rates for 10 years.
Section 12 — Flexibility and Future Agreement Amendments
Increase to project entitlement of 20% or less, developer discretion
Increase in project phase by up to 3 years, developer discretion
Change of Term of the DA, City Council
Substantive change to the Conceptual Plan, City Council
Substantive change to the Phasing and Timing Plan, City Council
Section 18 — Term
The DA is for 30 years
C. DECISION CRITERIA
FWRC 19.85.120 provides factors to be considered in review of a development agreement
(DA). The City may consider, but is not limited to, the following factors when considering a
DA:
(1) Compatibility with and impact on adjacent land uses and surrounding neighborhoods;
The City is looking to the development that is envisioned for these properties to set an
example of future redevelopment for Downtown Federal Way. Mid -rise, mixed use
buildings meet many of the expectations set in the City's Comprehensive Plan for this area.
(See applicable Goals and Policies below under #4).
(2) Adequacy of and impact on community facilities including utilities, roads, public
transportation, parks, recreation, and schools;
The development that is entitled with this DA will be required to provide street
improvements, stormwater improvements, and open space consistent with the City's codes,
unless explicitly modified under Section 7 (see summary above). It is not anticipated
development entitled by this DA will have unmitigated impacts on community facilities.
Prior to the construction of any of the entitlement, the developer must obtain a project -level
Rev. 7/18
SEPA decision and land use permit. These processes will ensure that there are no
unanticipated impacts on community facilities.
(3) Potential benefits of the proposal to the community; and
The public benefits are summarized above under Section 4. For a detailed description of
these benefits, refer to the draft DA.
(4) Effect upon the comprehensive plan.
The proposed DA is consistent with the City's Comprehensive Plan. Specifically, the
following Goals and Policies are supported by its adoption:
CCG1 Create an identifiable City Center that serves as the social, cultural, and economic focus of
the City. Define a City Center with distinct boundaries, unique building types, and special
features.
CCG4 Encourage a mix of compatible uses to maintain a lively, attractive, and safe place to live,
work, and visit.
CCG8 Develop land use patterns that will encourage less dependency on the single occupant
automobile.
CCG9 Provide a balanced transportation network that accommodates public transportation, high
occupancy vehicles, pedestrians, bicyclists, automobiles, and integrated parking.
CCG10Create an environment that attracts high quality housing, commercial, and office uses.
Continue to enforce requirements for quality design in buildings, streetscape, and site
planning.
CCG12Focus new growth in the City Center and allow for higher intensity uses and densities.
CCP2 Develop an attractive City Center that will attract quality development.
CCP3 Continue to support land use regulations that allow the higher intensity development
expected over the next 15 to 30 years.
CCP5 Utilize the SEPA Planned Action to provide streamlined permit review in the City Center
in order to accelerate progress towards meeting the vision.
CCP7 Allow for a variety of uses and mixed -use development within buildings, or complexes.
Ensure that mixed -use development complements and enhances the character of the
surrounding residential and commercial areas.
CCP8 Provide incentives to encourage residential development in City Center.
CCP9 Promote the siting of cultural and civic uses within the City Center. The City should
always consider City Center sites in siting analyses and decisions regarding potential civic
and cultural uses that it develops. In addition, incentives should be explored that could
attract cultural and civic uses over which the City does not have direct control.
CCP11 Continue to provide amenities such as community services, parks, and public spaces to
meet residential needs.
CCG14Promote and facilitate the effective use of non -motorized transportation. Create a safe,
efficient, and enjoyable pedestrian and bicycle system.
CCP15 Emphasize pedestrian and bicycle circulation, as well as other travel modes in all aspects
of developing the City Center transportation system. Include public sidewalks, street trees,
and other pedestrian amenities for streets.
CCP16 Continue to enforce and refine zoning codes, site planning requirements, and street design
standards, as necessary, to establish a more pedestrian and bicycle friendly environment.
Rev. 7/18
CCP17 Encourage new development to include active ground floor uses such as shops,
community services, office, and restaurants.
CCP18 Provide pedestrian connections between adjacent buildings where possible to provide for
streetscape continuity and develop clear and safe pedestrian paths through large parcels to
enhance the pedestrian network.
CCG16Develop civic and cultural facilities in addition to a public space and park system within
the City Center to meet the needs of residents, employees, and visitors. These facilities and
spaces should connect to the Citywide and regional system of public spaces, parks, and
trails.
CCP31 Promote a diversity of public and privately funded recreational and cultural facilities
throughout the City Center. Promote partnerships between the City and other agencies,
private organizations, and individuals to develop and meet the needs of the community for
these types of facilities.
CCG17Encourage the development of a higher -density, mixed -use City Center that in turn will
reduce parking demand per square foot or per unit.
CCP34 Encourage the provision of structured parking.
CCP38 Encourage shared parking between uses to maximize the use of available parking within
the City Center.
Rev. 7/18
ORDINANCE NO.24-
AN ORDINANCE of the City of Federal Way, Washington, relating to
entering into a development agreement with Trent Development Inc.
for the TC-3 properties pursuant to the provisions of Chapter 19.85
Federal Way Revised Code.
WHEREAS, the Washington State legislature has authorized local governments to enter
into development agreements under state law pursuant to RCW 36.70B.170 through 36.70B.210;
and
WHEREAS, the City of Federal Way ("City") has authorized the use of development
agreements in the City pursuant to Chapter 19.85 Federal Way Revised Code ("FWRC"); and
WHEREAS, in November, 2014, the City approved acquisition of a 7.48-acre property
("TC-3") adjacent to the then soon to be developed Performing Arts and Event Center in the City's
downtown; and
WHEREAS, in February, 2022, the City contracted with Perkins Eastman Architects to
work with the City in creating a land use and development plan for the City -owned TC-3
properties; and
WHEREAS, on November 23, 2022, the City issued a request for proposals ("RFP") to
find a developer for the TC-3 properties; and
WHEREAS, Trent Development Inc. submitted a proposal for development of the TC-3
properties; and
WHEREAS, on April 18, 2023, the City Council selected Trent Development Inc.
("Trent") as the City's preferred developer, and authorized execution of a Letter of Intent to Award
and initiation of development agreement negotiations with Trent; and
Ordinance No. 24- Page I of 36
WHEREAS, on April 21, 2023, the City and Trent executed an Agreement Regarding
Intent to Award; and
WHEREAS, as part of that agreement the City and Trent Development Inc. jointly agreed
to negotiate in good faith a development agreement to present to the City Council governing the
development of TC-3; and
WHEREAS, on May 12, 2023, the City received an appraisal report from CBRE
determining the market value of the TC-3 properties, which was subsequently revised and updated
on January 5, 2024; and
WHEREAS, an Environmental Determination of Nonsignificance ("DNS") was properly
issued for the proposed development agreement on October 6, 2023, the City received no
comments and the DNS was finalized on October 20, 2023, and no appeals were filed and the
appeal period expired on November 10, 2023; and
WHEREAS, on March 8, 2024, the Director of Community Development provided public
notice for the public hearing consistent with the provisions of FWRC 19.85.130; and
WHEREAS, the proposed development agreement is consistent with the Federal Way
Comprehensive Plan; and
WHEREAS, the Land Use & Transportation Committee of the Federal Way City Council
was briefed on the proposed development agreement on March 4, 2024; and
WHEREAS, the City Council held a public hearing on April 2, 2024, and reviewed the
staff report and considered all of the testimony provided.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Ordinance No. 24- Page 2 of 36
Section 1. Findings and Conclusions. The City Council of the City of Federal Way makes
the following findings and conclusions with respect to the proposed development agreement
attached as Exhibit A:
(a) The recitals set forth above are hereby adopted and restated as findings of fact.
(b) The City is authorized to enter into a development agreement pursuant to the
provisions of Chapter 36.70B.170 RCW, Growth Management.
(c) The development agreement review process has followed the proper procedures
required under FWRC 19.85.
(d) The development agreement, as set forth in Exhibit A, is consistent with RCW
36.70B, RCW 43.21C, and FWRC 19.85.
(e) The development envisioned under the development agreement is compatible with
and results in positive impacts on adjacent land uses and surrounding neighborhoods because it
will set an example for future redevelopment for downtown Federal Way, and mid -rise, mixed use
buildings meet many of the expectations set in the City's Comprehensive Plan for the area.
(f) Community facilities including utilities, roads, public transportation, parks,
recreation, and schools are adequate to support the development, and the development will not
have a negative impact on such community facilities. Development under the development
agreement will be required to provide street improvements, stormwater improvements, and open
space consistent with FWRC, with some explicit modifications under the development agreement.
Prior to the construction of any of the entitlements under the development agreement, the
developer must obtain applicable project -level SEPA decisions and land use permits, which will
ensure there are no unanticipated or unmitigated impacts on community facilities.
Ordinance No. 24- Page 3 of 36
(g) Approving the development agreement is in the best interest of the residents of the
City and will benefit the City as a whole because the proposed development agreement provides
for the investment of approximately $450,000,000 of private capital into the city of Federal Way;
includes the provision of opportunities for home ownership in addition to rental housing options;
will result in the increased production of housing and employment opportunities thereby adding to
the public health, safety, and welfare of the community; will act as a catalyst for public and private
investment in the City's downtown; and, contains several other public benefits as detailed in
Section 4 of the development agreement.
(h) The proposed development agreement is consistent with, and substantially
implements, the Federal Way Comprehensive Plan, including the following specific goals and
policies:
CCG1 Create an identifiable City Center that serves as the social, cultural, and economic
focus of the City. Define a City Center with distinct boundaries, unique building types, and
special features.
CCG4 Encourage a mix of compatible uses to maintain a lively, attractive, and safe place
to live, work, and visit.
CCG8 Develop land use patterns that will encourage less dependency on the single
occupant automobile.
CCG9 Provide a balanced transportation network that accommodates public
transportation, high occupancy vehicles, pedestrians, bicyclists, automobiles, and
integrated parking.
CCG10 Create an environment that attracts high quality housing, commercial, and
office uses. Continue to enforce requirements for quality design in buildings, streetscape,
and site planning.
CCG12 Focus new growth in the City Center and allow for higher intensity uses and
densities.
CCP2 Develop an attractive City Center that will attract quality development.
Ordinance No. 24- Page 4 of 36
CCP3 Continue to support land use regulations that allow the higher intensity
development
expected over the next 15 to 30 years.
CCPS Utilize the SEPA Planned Action to provide streamlined permit review in the City
Center in order to accelerate progress towards meeting the vision.
CCP7 Allow for a variety of uses and mixed -use development within buildings, or
complexes. Ensure that mixed -use development complements and enhances the character
of the surrounding residential and commercial areas.
CCP8 Provide incentives to encourage residential development in City Center.
CCP9 Promote the siting of cultural and civic uses within the City Center. The City should
always consider City Center sites in siting analyses and decisions regarding potential civic
and cultural uses that it develops. In addition, incentives should be explored that could
attract cultural and civic uses over which the City does not have direct control.
CCP11 Continue to provide amenities such as community services, parks, and
public spaces to meet residential needs.
CCG14 Promote and facilitate the effective use of non -motorized transportation.
Create a safe, efficient, and enjoyable pedestrian and bicycle system.
CCP15 Emphasize pedestrian and bicycle circulation, as well as other travel modes
in all aspects of developing the City Center transportation system. Include public
sidewalks, street trees, and other pedestrian amenities for streets.
CCP16 Continue to enforce and refine zoning codes, site planning requirements,
and street design standards, as necessary, to establish a more pedestrian and bicycle
friendly environment.
CCP17 Encourage new development to include active ground floor uses such as
shops, community services, office, and restaurants.
CCP18 Provide pedestrian connections between adjacent buildings where possible
to provide for streetscape continuity and develop clear and safe pedestrian paths through
large parcels to enhance the pedestrian network.
CCG16 Develop civic and cultural facilities in addition to a public space and park
system within the City Center to meet the needs of residents, employees, and visitors. These
facilities and spaces should connect to the Citywide and regional system of public spaces,
parks, and trails.
CCP31 Promote a diversity of public and privately funded recreational and cultural
facilities throughout the City Center. Promote partnerships between the City and other
Ordinance No. 24- Page 5 of 36
agencies, private organizations, and individuals to develop and meet the needs of the
community for these types of facilities.
CCG17 Encourage the development of a higher -density, mixed -use City Center that
in turn will reduce parking demand per square foot or per unit.
CCP34 Encourage the provision of structured parking.
CCP38 Encourage shared parking between uses to maximize the use of available
parking within the City Center.
Section 3. Development Agreement Adopted. The City of Federal Way hereby adopts the
development agreement attached as Exhibit A ("Development Agreement") by and between the
City of Federal Way and Trent Development Inc., for the purchase and sale of the City -owned TC-
3 properties and the development of the properties.
Section 4. Severability. The provisions of this ordinance are declared separate and
severable. The invalidity of any clause, sentence, paragraph, subdivision, section, or portion of this
ordinance, or the invalidity of the application thereof to any person or circumstance, shall not affect
the validity of the remainder of the ordinance, or the validity of its application to any other persons
or circumstances.
Section 5. Corrections. The City Clerk and the codifiers of this ordinance are authorized
to make necessary corrections to this ordinance including, but not limited to, the correction of
scrivener/clerical errors, references, ordinance numbering, section/subsection numbers and any
references thereto.
Section 6. Effective Date. This ordinance shall be effective five (5) days after passage and
publication as provided by law.
PASSED by the City Council of the City of Federal Way this day of
52024.
Ordinance No. 24- Page 6 of 36
CITY OF FEDERAL WAY:
JIM FERRELL, MAYOR
ATTEST:
STEPHANIE COURTNEY, CMC, CITY CLERK
APPROVED AS TO FORM:
RYAN CALL, CITY ATTORNEY
FILED WITH THE CITY CLERK:
PASSED BY THE CITY COUNCIL:
PUBLISHED:
EFFECTIVE DATE:
ORDINANCE NO.:
Ordinance No. 24- Page 7 of 36
EXHIBIT A
DEVELOPMENT AGREEMENT
THIS AGREEMENT is entered into this day of , 2024 (the
"Effective Date") by and between Trent Development Inc., a Washington corporation
("Developer"), or its assignee, and the City of Federal Way, a Washington municipal corporation
("City"). Developer and the City are each a "Party" and collectively the "Parties" to this
Agreement.
RECITALS
A. The Washington State Legislature has authorized the execution of development
agreements between a local government and an entity having ownership or control of real property
within its jurisdiction, pursuant to RCW 36.70B.170 through 36.70B.210 ("Development
Agreement Statute"). This Agreement is authorized pursuant to the Development Agreement
Statute and Chapter 19.85 of the Federal Way Revised Code ("FWRC").
B. The City of Federal Way owns parcels 857500-0010, 857500-0020, and 092104-
9017, commonly referred to as Town Center 3 ("TC-3 Property"), located generally at the
southwest corner of 23rd Avenue S and S 314th Street, legally described on Exhibit A, which is
attached hereto and incorporated herein by reference. The TC-3 Property is designated City Center
Core in the City's Comprehensive Plan, located in the City Center Core zone ("CC-C"), and
located within the Downtown Architectural Overlay ("Downtown").
C. In September 2006, the City adopted a planned action Environmental Impact
Statement for the City Center. The City subsequently adopted a Supplemental Environmental
Impact Statement ("SEIS") via Ordinance 16-811, which contemplated 475,000 sq. ft. of retail,
400,000 sq. ft. of office, 600 hotel rooms, and 2,400 housing units (collectively "Planned Action
EIS"). The TC-3 Property is located within the Planned Action EIS boundary and the Planned
Action EIS has been incorporated into the SEPA decision (DNS 23-102418-SE) for this
Agreement.
D. In 2022, the City contracted with VIA Architecture, a Perkins Eastman Studio, to
prepare a preferred redevelopment plan ("Master Development Plan") for an approximately 7.45-
acre portion of the TC-3 Property ("Property"), as depicted in the January 5, 2024, appraisal
conducted by CBRE ("Appraisal"). The Master Development Plan envisioned five privately -
owned building parcels to be developed with office, retail, hotel, residential units, a civic plaza
and community building, and a public parking garage. The City and community expressed support
for the Master Development Plan, believing it would create a sense of place and civic identity,
reflective of the growing and diverse community; provide a catalyst for mixed use residential and
pedestrian -focused retail; anchor the north downtown with a pedestrian -scale block structure, with
smaller, active public spaces; and capitalize on momentum and timing of recent investments.
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E. In November 2022, the City issued a Request for Proposals ("RFP") to identify a
purchaser and developer for the Property. Developer submitted a proposal, which was selected by
the City. In April 2023, the City Council authorized the Mayor to execute the Letter of Intent
("LOI") to authorize the Developer to initiate a Development Agreement with the City.
F. The Developer is planning a phased redevelopment of the Property with a mix of
land uses, generally consistent with the Master Development Plan ("Project"). The Developer has
prepared a Conceptual Plan (Exhibit B), Phasing and Timing Plan (Exhibit C), and Conceptual
Improvement Plan (Exhibit D) to provide for the coordinated redevelopment of the Property. These
Exhibits are incorporated herein by reference. The Parties agree the Conceptual Plan is a
conceptual guide for the Project as defined in this Agreement but does not constitute a
"Development Plan" under FWRC 19.85.100.
G. Redevelopment of the Property will be a substantial benefit to the City through
implementation of the vision of the City Center Sub -Area Plan, new transit -oriented housing and
job opportunities, and new destination retail and restaurants in Downtown. However,
redevelopment of the Property entails significant financial, entitlement, and construction risk to
Developer over the course of a multi -phased development. The City's partnership in the execution
of this catalyst project is critical for success of the Project and Downtown. This Agreement is
intended to ensure that public decisions regarding public investment and cooperation, and
Developer predictability during the planning, entitlement and redevelopment of the Property,
benefit both Parties in supporting the timely and cost-efficient delivery of housing, jobs, and other
public benefits to the City of Federal Way.
H. Environmental impacts of the Agreement were identified, considered and
mitigation measures proposed through the provisions of this Agreement. The City issued a
Determination of Non -Significance on October 6, 2023.
I. Completion of the Project in accordance with the Conceptual Plan will promote the
goals and policies of the Comprehensive Plan.
J. By this Agreement, the Parties intend to set forth their mutual agreement and
understandings as they relate to the development and sale of the Property and the Project.
NOW THEREFORE, in consideration of the mutual benefits and agreements contained
herein, as well as other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties hereby agree as follows:
AGREEMENT
I. Definitions. Each term identified in this Section shall have the specific meaning
identified in this Section. Each term defined elsewhere in this Agreement shall have the specific
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meaning identified elsewhere in this Agreement. Undefined terms shall have their common and
ordinary meanings.
1.1. "City Council" means the City Council of the City of Federal Way.
1.2. "Development Regulations" means those sections of the Federal Way
Revised Code, Federal Way Zoning and Development Code, Federal Way Comprehensive
Plan, Federal Way Zoning Map, and any implementing policies, regulations, procedures or
guidelines addressing the zoning, building and site design, utilities, environmental review
(including SEPA procedures and substantive authority), transportation concurrency,
multifamily dwelling unit limited property tax exemption regulations, impact fees and any
other elements that govern the development of real property within the City. A term defined
in the Development Regulations shall have the meaning assigned to it within the
Development Regulations.
1.3. "FWRC" means the Federal Way Revised Code.
1.4. "MDP" means the Master Development Plan prepared for the City in
preparation for releasing the Request for Proposals for the Property.
1.5 "MFTE" means the Multifamily Dwelling Unit Limited Property Tax
Exemption program administered by the City pursuant to FWRC 3.30.
1.6. "Developer" means Trent Development Inc., a Washington corporation,
and its successors and permitted assigns pursuant to Section 26.
1.7. "SEPA" means the State Environmental Policy Act, RCW 43.21 C, and
implementing regulations at WAC Ch.197-11.
1.8. "Development Director" or "Designated Official" is the Director of the
Department of Community Development, also known as the Department of Community
Development Services.
1.9. "Designer" means the consultant hired to prepare design and associated
documents for the Civic Plaza.
2. Project Description. Developer proposes to develop the Project as depicted in the
Conceptual Site Plan.
2.1 Entitlement. The Project is entitled for the following uses, which may be
constructed at the discretion of Developer:
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a. Residential. Up to 1,600 traditional, non -subsidized housing units.
Residential uses may include a combination of apartments, townhomes, and
condominium units.
b. Retail (FWRC 19.225.020). Up to 50,000 sq. ft.
Office (FWRC 19.225.010). Up to 175,000 sq. ft.
d. Entertainment (FWRC 19.225.040). Up to 170,000 sq. ft.
Lodging (FWRC 19.225.050). Up to 175 rooms and 50,000 sq. ft.
accessory spaces.
f. All required utilities; streets, drives, parking and other transportation
facilities; park and open space improvements, and all other improvements needed
to support and complete the development, including on -site and off -site
improvements.
2.2 Civic Plaza.
a. Design. The Parties shall collaborate on the design of a civic plaza
("Civic Plaza") to be located on City property, South of Road A and South and
West of the Property as generally depicted on the Conceptual Plan. Developer shall
select the Designer for the Civic Plaza, subject to City agreement, who will prepare
a design for the Civic Plaza. The City shall incorporate community outreach as part
of the design process. The design of the Civic Plaza must be approved by the
Developer and City Council ("Approved Design"). After approval, Designer shall
prepare a complete set of plans and specifications conforming to City standards for
City's use in construction bidding. Developer shall provide a budget of no less than
$350,000 for the development of, and modifications to, the Approved Design.
Developer shall pay all reasonable costs to Designer associated with developing the
Approved Design, and any required modifications to the Approved Design under
section 2.2.b.
b. City Construction. The City shall request competitive bids for
construction of the Civic Plaza in accordance with Washington State public works
contracting requirements based on the Approved Design. Bids shall be requested
within six (6) months of completion of the Approved Design, or at a later time
mutually agreed to by the Parties. Developer may submit a bid for construction.
The City shall provide a project budget sufficient to fund construction of the Civic
Plaza based on the Approved Design. If the lowest responsive, responsible bidder's
bid would result in a project budget in excess of $5,000,000, the Approved Design
must be modified in accordance with the process outlined in section 2.2.a to allow
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for bids resulting in a lower project budget; the City Council must approve
additional project budget to cover the additional amount; or the Developer can pay
the City the additional amount. The City may, at its sole discretion, hire a consultant
to manage construction of the Civic Plaza ("Construction Manager"). City shall
include Developer in the selection process for the Construction Manager. The
City's contract with the Construction Manager will require construction
coordination with Developer, so that Civic Plaza construction is integrated with
Developer's Phase I construction, which are both anticipated to occur at the same
time. The City shall commence construction of the Civic Plaza within six (6)
months of bid award.
C. Developer Construction. Should the City not fulfill its obligations to
secure sufficient funds to construct the Civic Plaza, request competitive bids for
Civic Plaza construction within the timeline set forth in subsection b., and/or
commence construction within the timeline set forth in subsection b., Developer
may, at its sole discretion, proceed with construction of the Civic Plaza in
accordance with standard Public Works contracting requirements. The City shall
provide all necessary approvals and easements necessary to authorize and facilitate
such construction. City shall reimburse Developer for actual project costs as they
are incurred up to $5,000,000. City will pay Developer 5% of the actual
construction costs for construction management costs, which will be in addition to
the Plaza construction budget.
d. Maintenance and Operation. Prior to completion of the Civic Plaza,
the Parties shall negotiate a separate operational and maintenance agreement for the
Civic Plaza ("Operational Agreement"). The Operational Agreement will allow
Developer to supplement the City's maintenance and security measures and will
provide for the Parties to coordinate on event programming.
2.3. Civic Buildings.
a. City Hall and Community Space. The Northwest Block of the
Project may include a City Hall and Community Space, as depicted on the
Conceptual Plan. Unless otherwise agreed to by the Parties, the City shall notify
Developer by January 1, 2028, whether or not to construct the City Hall and
Community Space. Prior to commencing design, the Parties shall negotiate and
execute an agreement that will include lease and/or future acquisition terms
acceptable to the Parties. If the City notifies Developer not to construct the City
Hall and Community Space; or, fails to notify Developer pursuant to the terms of
this subsection; or, if the Parties cannot agree to the terms of lease or acquisition,
Developer can, at its sole discretion, construct any improvements in the Northwest
Block authorized by this Agreement.
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b. Public Parking Garage. The Project may include a Public Parking
Garage ("Garage"). Unless otherwise agreed to by the Parties, the City shall notify
Developer by January 1, 2028, whether or not to construct the Garage. If Developer
receives timely notice from the City, Developer shall construct approximately 365
public parking spaces at a location within the Project determined by Developer
subject to Public Works contracting requirements. The City shall reimburse
Developer for actual costs of construction within six (6) months of completion of
construction. Prior to commencing design, the Parties shall negotiate and execute
an agreement that will include lease and/or future acquisition terms acceptable to
the Parties. If the City notifies Developer not to construct the Garage; or, if the City
fails to notify Developer pursuant to the terms of this subsection; or, if the Parties
cannot agree to the terms of lease or acquisition, Developer has no obligation to
build the Garage.
2.4 Hotel. If a suitable Hotel, as determined by the Parties, seeks to locate in
the Project, and Developer in its sole discretion determines that the Hotel will be
economically -viable for the Project, Developer will build, sell the Phase, or execute an
agreement to facilitate the construction of the Hotel in Phase II, III, or IV of the Project.
3. Civil Improvements. Developer will construct on -site street and right-of-way
improvements as depicted on Exhibit D, the Conceptual Improvements Plan. Minor modifications
to Exhibit D may be made if approved by the City through the Project Entitlement process at the
Developer's option or as required by Project -specific technical analysis without amendment of this
Agreement. Should Exhibit D be so modified, Developer shall submit revisions to Exhibit D. Such
revisions will be processed as Developer Discretion amendments under Section 12.1. Amendments
to Exhibit D may also be made outside of the Project Entitlement process through the provisions
of Section 12.
Developer shall provide a traffic impact analysis ("TIA") for the entire Project with the
first implementing land use permit to evaluate consistency with the SEPA Planned Action and
compliance with concurrency requirements. Exhibit D represents the Parties agreement on the
scope and extent of required improvements and dedications, subject to additional project -level
requirements required by future SEPA review/decisions and/or the TIA.
The construction of any frontage improvement, and the dedication to the City of each
completed frontage improvement, shall be completed prior to the occupancy of any building phase
for which the improvement is required. Should Developer choose to construct improvements
designed for future phases at an earlier time, such work shall be coordinated with the City. The
Conceptual Improvements Plan outlines the following improvements per phase:
3.1 Site Access Driveways. The following proposed site access driveways will
be provided for each phase:
on
a. The Southeast Block will have three (3) curb cuts: one on 23' Ave
S. providing access to the upper level parking garage; one on S. 316th Street
providing parking garage access to the lower -level garage; and one loading
driveway on S. 316th Street.
b. The North Block will have two (2) curb cuts: one on the east side of
Road A providing access to the parking garage, which will also accommodate
loading; and one on S. 314th Street for loading.
C. The Northeast Block will have a single curb cut on 23rd Ave S.
providing access to the parking garage, which will also accommodate loading.
d. The Northwest Block will have two (2) curb cuts: one on Pete von
Reichbauer Way (existing driveway shared with the PAEC) providing access to the
parking garage, which may also accommodate loading; and one on either S. 314'
Street or the west side of Road A, subject to City approval and associated
conditions, which may provide access to the parking garage and which may also
accommodate loading.
3.2 Frontage Improvements and Dedications if the Southeast Block is Phase I:
a. The following improvements will occur in Phase I:
i. Street improvements abutting the Southeast Block along S.
316th St. and 23rd Ave S. will be constructed per City standards;
ii. The east portion of Road A will have a permanent street
connection to S. 314th St.;
iii. The existing curb cut in the middle of S. 314th St. west of
Road A East Portion will be filled in with a new curb;
iv. A new curb and sidewalk matching the existing curb and
sidewalk will be constructed along S. 314th St. adjacent to the Northeast
Block;
V. If determined to be necessary by the TIA, street widening
along S. 314th St. to City standards;
vi. If determined to be necessary by the TIA, traffic
signalization modification at S. 314th St./23rd Ave S.
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Block):
b. The following improvements will occur in Phase II (North Block):
i. If street widening along S. 314th St. to City standards was
not completed as part of Phase I, complete street widening along S. 314th
St. to City standards;
ii. New curb, streetlights and sidewalks on S. 314th St.;
iii. Street trees added only to frontage abutting the North Block;
iv. Access to Pete von Reichbauer Way from west leg of Road
A will be preserved;
V. If traffic signalization modification at S. 314th St./23rd Ave
S. was not completed as part of Phase I, traffic signalization modification at
S. 314th St./23rd Ave S.
C. The following improvements will occur in Phase III (Northeast
i. Street improvements adjacent to Northeast Block frontage
along 23rd Ave S. to City standards;
ii. Street trees will be added on S. 3141h St. on Northeast Block
frontage.
3.3 Frontage Improvements and Dedications if the North Block is Phase I:
a. The following improvements will occur in Phase I:
i. Street widening on S. 314th St. adjacent to the North Block;
ii. New curb and sidewalk to match existing curb/sidewalk abutting
Northeast Block;
iii. Road A will be built with permanent connection to S. 314th St.;
iv. If determined to be necessary by the TIA, street widening and
new curb and sidewalks along S. 314th St. adjacent to the
Northeast Block;
V. If determined to be necessary by the TIA, traffic signalization
modification at S. 314th St.23rd Ave S.
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b. The following improvements will occur in Phase II (Southeast Block):
i. Street improvements adjacent to site along S. 316th St. and 23rd
Ave S. will be brought up to City standards;
ii. If not completed as part of Phase I, street widening along S. 314th
St adjacent to the Northeast Block and new curb and sidewalks;
iii. If not completed as part of Phase I, traffic signalization
modification at S. 314th St./23ra Ave S.
c. The following improvements will occur in Phase III (Northeast Block):
i. Street improvements adjacent to site along 23rd Ave S.;
ii. Street trees added on S. 314th St. adjacent to the Northeast Block.
3.4 Utility Infrastructure. Developer shall provide necessary utility
infrastructure to support each phase prior to the occupancy of that phase, as determined
through project -specific review and coordination with Lakehaven. Developer anticipates
that all required utility work for each phase will occur within the phasing limits depicted
on Exhibit D, based on preliminary review by its civil engineer and initial feedback from
Lakehaven. Should utility extensions be required for a specific phase that extend beyond
the phasing limits identified on Exhibit D, the City will allow Developer to construct an
appropriate, interim level of improvements in the utility extension area, provided that a full
curb to curb overlay will be provided, and provided that the interim improvement be in
place no longer than seven years from the date of issuance of the associated right-of-way
permit. After seven years, Developer will be required to install permanent improvements,
regardless of timing of the phase for which that frontage is required in Section 3.2 or 3.3,
and Exhibit D. Developer may elect to build additional infrastructure in earlier phases to
support future phases, subject to Developer's execution of necessary easements to allow
utility infrastructure to serve buildings and improvements on separate parcels.
4. Public Benefits. The Parties acknowledge that the Project will advance the City's
vision for the Property, as expressed in the City's Comprehensive Plan, City -Center Sub -Area
Plan, and MDP for the Property. The Project will benefit the City through the redevelopment of
key contiguous parcels in the City Center Core with multifamily housing, retail, entertainment and
office uses that will support the vision of mixed -use, transit -oriented development ("TOD") and
catalyze future investment and high -quality development in the vicinity. Specifically, the Project
will provide the following public benefits:
M1
4.1 Pioneering TOD Neighborhood. This Project will fulfill the City's
Comprehensive Plan Goals (See adopting ordinance for applicable Goals and Policies) and
MDP Vision by creating the City's first high -density, transit -oriented neighborhood. It will
improve, activate, and create an identifiable Downtown to serve as the social, cultural,
civic, and economic hub of the City, establishing a sense of identity and place and attracting
capital for future high -quality TOD development.
4.2 Job Creation and Revenue. The Project will create temporary jobs and
significant construction tax revenue. Once completed, it will generate permanent jobs close
to housing, add to the City's tax base, and generate an estimated $55-plus million in local,
state, and federal taxes and revenue.
4.3 Residential Ownership Opportunities. The Project proposes approximately
38 for -sale residences, which will diversify the City's housing stock and increase
ownership opportunities for City residents.
4.4 PAEC Parking. To the extent feasible, in addition to the access to surface
parking stalls described in Section 5, Developer will maintain access to remaining surface
parking stalls utilized by the PAEC on the Property during Project construction.
4.5 Public Art. Developer will coordinate with the City's Arts Commission to
incorporate public art into the Project, further establishing the Downtown's unique identity
and sense of place.
4.6 Interim Uses. Developer will work with the City to identify interim uses
(pop -ups, food trucks, etc.) to energize the site during the entitlement and construction
period. Developer shall control location and timing of interim uses but will allow their use
of the Property at no cost.
4.7 Civic Buildings. Developer has offered to incorporate the City Hall,
Community Space building and Public Parking Garage into the Project, as outlined in this
Agreement.
4.8 Street Furniture. Developer, as part of the Designer's work for the Civic
Plaza, will provide enhanced design for street fixtures, furniture, and lighting. These
designs, approved by the City, shall be utilized throughout the Project for consistency with
those provided in the Civic Plaza.
4.9 Enhanced Road A Design. The Project will incorporate a two-way "woonerf
lane" ("Road A"), as depicted on Exhibit B. Road A's enhanced design and functionality
will integrate the surrounding blocks with the Civic Plaza, which will be shared by
pedestrians, bicyclists, and vehicles.
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The City agrees that the public benefits listed in Section 4 are sufficient to meet or exceed
the public benefit requirement in FWRC 19.85.120(3). No additional public benefits or voluntary
mitigation shall be required for the Project or any Project -phases, except as mutually agreed by the
Parties.
5. Prope]ly Acquisition. As a condition of issuance of the first construction permit for
the residential building in Phase I, or earlier at Developer's sole discretion, Developer shall acquire
the approximately 7.45-acre Property, as depicted in the Appraisal ("Closing"). The exact legal
boundaries of the Property to be acquired shall be determined via the subdivision process in
Section 6. Closing shall occur pursuant to a Purchase and Sale Agreement ("PSA") acceptable to
the Parties. The Property will be conveyed by Statutory Warranty Deed, with standard
contingencies, and acquisition will occur through escrow, with escrow agent and title company to
be selected by Developer. If the Parties are unable to negotiate an acceptable PSA, either Party
may terminate this Agreement.
5.1 The purchase price is $10,000,000. The purchase price is derived from, and
takes into account, the following:
a. The appraised value of the Property is $12,800,000 to $13,800,000, based
on the Appraisal.
b. Developer shall fund design of the Civic Plaza in an amount no lower than
$350,000, as further detailed in Section 2.2.a.
c. Developer shall incorporate public art into the Project at Developer's
expense, and in an amount no lower than $750,000, at least half of which will be
expended during Phases I and II.
d. Developer shall incorporate enhanced design of street fixtures, furniture,
and lighting into the Project at Developer's expense, the cost of which shall be no lower
than $200,000 including design and implementation.
e. Developer shall provide an enhanced Road A design at Developer's
expense, and the overall cost of design and implementation of the enhanced Road A
design shall be no less than $480,000.
f. Developer shall maintain public access to remaining surface parking stalls
North of the PAEC and on the west leg of Road A on the Property during Phase I
construction at no cost to the City. The estimated value of that parking is $600 per stall
per year, and the total value of the one -hundred twenty-four (124) stalls over the
estimated duration of six years is $446,400.
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g. Until construction in that area commences, Developer shall allow public
access to surface parking stalls in the Northeast Block during Phase II and III
construction at no cost to the City. The estimated value of that parking is $900 per stall
per year, and the total value of the ninety-six (96) stalls over the estimated duration of
seven years is $604,800.
h. Public Elevator. Developer will construct an elevator near the Southeast
Block building that will connect the sidewalk on 3161h St. to the Civic Plaza, which will
be available to the public and tenants of the building. Construction of the elevator is
anticipated to cost $250,000, half of which ($125,000) represents value to the public.
5.2 At Closing, Developer shall execute an easement to benefit the City, in a
form agreed to by Developer and City, allowing for continued public access and travel to
and from the PAEC and the south leg of Road A north to 314th Street and west to Pete von
Reichbauer Way.
5.3 Should Developer not submit its first Phase I building permit by January 1,
2027, the City shall have the option to terminate this Agreement. Similarly, should
Developer not commence each Phase (acquire its first building or construction permit)
within two years of the Phase date listed on Exhibit C (unless the failure to commence is
caused by force majeure, or events outside Developer's reasonable control), the City may
purchase the parcel at a price determined by a new appraisal approved by both Parties.
6. Subdivision. Prior to Closing, Developer will record a subdivision creating legal
lots for transfer of the approximately 7.45-acre Property and development of the Project, which
will generally be consistent with the Phasing and Timing Plan in Exhibit C. The size, configuration
and number of legal lots or development parcels within the Property may be modified if approved
by the City without amendment of this Agreement through boundary line adjustments (`BLA"),
lot consolidations, binding site plans (`BSP"), short plats, or subdivisions. Should the legal lots or
development parcels within the Property be so modified, Developer shall submit revisions to all
Exhibits to this Agreement. Such revisions will be processed as Developer Discretion amendments
under Section 12. L
7. Development Regulation Modifications. As a component of this Agreement, the
City Council approves the following modifications from City Development Regulations for this
Project:
7.1 Perimeter Residential Uses Permitted. Residential units will be permitted
along the perimeter streets of the Project as depicted in the Conceptual Plan (in addition to
all other permitted uses, to include retail and live/work). These units shall be allowed in
lieu of the entertainment or retail uses which would otherwise be required per FWRC
19.225.070.
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7.2 Road A. The City will authorize reasonable deviations from public road
standards to accommodate the enhanced design of Road A. Temporary parking spaces may
be located along Road A right-of-way but shall be reviewed and approved by the City.
7.3 S. 314th Street. The City will authorize reasonable deviations necessary to
accommodate access points and curb separation on S. 314th Street, as depicted in Exhibit
D.
7.4 InclusionM Zoning. Deviation from FWRC 19.110.010 shall be authorized
as described in Section 15.
7.5 Non -Residential Ground Floor space. The City will allow the 15% non-
residential ground level space requirement in FWRC 19.225.070 to be met on a cumulative
basis, considering all Project phases.
7.6 Open Space. Calculation of the open space requirement in FWRC
19.225.070 will include pedestrian areas of Road A (areas not including the driving surface
or parking stalls), and any future open space fee in lieu will be based on the Appraisal.
7.7 Building Length. Building lengths in excess of 250' shall be allowed and
are consistent with the community design guidelines in FWRC 19.115.020(5).
8. Density and Intensity of Uses. The Entitlements approved through this Agreement
(Section 2.1) shall be allowed on the Property without limit to maximum density or intensity of
the CC-C zone.
9. Phasing. The Project is anticipated to be built in phases. The Phasing and Timing
Plan provided in Exhibit C ("Phasing and Timing Plan"), establishes outside construction dates.
Developer will work in good faith to initiate construction as soon as practicable, subject to market
conditions and financing. Regardless of whether the Southeast or North Block is Phase I, Phase I
is proposed to be constructed first, but the other phases may be constructed out of order (i.e., Phase
III or IV may precede Phase II), as long as adequate infrastructure is provided to support each
constructed phase. If the phases are constructed out of order, the frontage improvements and
dedications detailed in Sections 3.2 and 3.3, and depicted in Exhibit D, shall be adjusted to reflect
the new phase order. Such an adjustment to the frontage improvements and dedications shall be
processed as a Minor Amendment. If the phases are constructed out of order, the phasing timeline
will automatically adjust to reflect the constructed order of phases.
10. Vesting. Developer is entitled to develop the Project under the Development
Regulations and land use controls in effect as of the Effective Date of this Agreement ("Vested
Code Provisions"), which shall apply for the Term of this Agreement.
10.1. Exemptions. The following are exempt from vesting under this Agreement:
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a. Plan review fees, inspection fees, and land use application fees;
b. Connection charges, general facilities charges and monthly service
charges;
C. Amendments to building, plumbing, fire and other construction
codes adopted pursuant to RCW Ch. 19.27 or 19.27A;
d. Impact fees, except as modified in Section 10.3 of this Agreement;
e. City enactments that are adopted pursuant to state or federal
mandates (such as the City's NPDES Municipal Stormwater Permits) that preempt
the City's authority to vest regulations;
f. City enactments regarding MFTE required to be adopted pursuant
to a state repeal, amendment, or modification of RCW Ch. 84.14 or other applicable
state law terminating the City's authority to implement an MFTE program.
10.2. Reserved Rights. Notwithstanding any provision in this Agreement, the
City reserves authority pursuant to RCW 36.70B.170(4) to impose new or different
Development Regulations to the extent required by a serious threat to public health or
safety, as determined by the City Council after written notice and an opportunity to be
heard by Developer.
10.3 Impact Fees. The Project is vested to the following impact fees in effect on
the date this Agreement is executed:
a. A school impact fee of zero;
b. A park impact fee of $2,200/ residential unit.
C. The transportation impact fee in place as of the Effective Date of
this Agreement, for a period of ten (10) years after the Effective Date, with yearly
increases based on CPI, as allowed in FWRC 19.85.
10.4 Property Tax Exemption. The Project qualifies for a Multifamily Dwelling
Unit Tax Exemption under FWRC 3.30 and is vested to the provisions of Chapter 3.30
FWRC as of the Effective Date of this Agreement for the term of the Agreement. The
Parties acknowledge that the Project is located within an eligible residential targeted area
for participation in the tax exemption program for both the 8 and 12-year option. Developer
may elect, at its sole discretion, to apply for the 8-year MFTE program. The 12-year option
(FWRC 3.30.040(1)(b)(ii)) shall not be utilized for the Project, unless a repeal, amendment,
or modification of RCW Ch. 84.14 or other applicable state law terminates the City's
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authority to implement the 8-year MFTE program, in which case Developer will be entitled
to utilize the 12-year option. At the end of the initial exemption period, Developer may
elect to apply for a 12-year extension to the exemption period as authorized by RCW
84.14.020(6), provided that the City has adopted provisions in FWRC authorizing the 12-
year extension within the City.
11. Future Code Amendments. Developer may request to develop the Property or
Project -phases thereof in accordance with new Code provisions, Development Regulations and
other regulations, policies, or guidelines hereinafter adopted by the City after the Effective Date,
including but not limited to future SEPA and/or Planned Action amendments for City Center,
without obligation to bring other portions of the Property into conformance with newly -adopted
Code provisions, Development Regulations and other regulations. Application of any future Code
amendments under this provision shall be on a Project -phase basis and shall be processed as a
Minor Amendment, unless expressly listed as a Major Amendment. Application of any future state
legislation and/or implementing Code amendments under this provision shall be on a Project -phase
basis and shall be processed as a Minor Amendment, unless expressly listed as a Major
Amendment.
12. Flexibility and Future Agreement Amendments. During the Term of this
Agreement, Developer or City may request amendments to this Agreement. Developer -requested
Amendments will be classified as: 1) "Developer Discretion"; 2) "Minor Amendments" subject to
review and approval by the Designated Official; or 3) "Major Amendments" requiring City
Council approval. As a rule of construction, all ambiguities with respect to whether a Developer -
requested amendment is classified as Developer Discretion, a Minor Amendment, or a Major
Amendment shall be resolved in favor of treating the proposed amendment as a Minor
Amendment.
12.1 Developer Discretion amendments are:
a. Any increase to any aspect of the Entitlement of 20% or less.
b. An increase to the timeline for any Project Phase by up to three
years.
C. All other Developer -requested amendments that result, as
determined by the Designated Official, in comparable benefit or functional
equivalence with no more than a de-minimis reduction of public benefits, reduction
in environmental protection, or increase in material public cost.
City review of Developer Discretion amendments is limited only to determining whether a
requested amendment is properly categorized as Developer Discretion under this
subsection.
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12.2 Minor Amendments are all amendments that are not Developer Discretion
or Major Amendments.
12.3 Major Amendments are:
a. Changes to the Term of the Agreement.
b. Substantive change, as determined by the Designated Official, to the
Conceptual Plan (Exhibit B). Substantive changes to the Conceptual Plan are
changes that (1) propose a land use that is not included in the current Entitlement,
as set forth in Section 2.1 of this Agreement; or (2) propose an increase to any
aspect of the Entitlement in excess of 20%.
C. Substantive change, as determined by the Designated Official, to the
Phasing and Timing Plan (Exhibit C). A substantive change is one that would
increase the timeline for any Project Phase by more than three years.
13. Project Review. Developer shall be responsible to apply for all required City
permits, including but not limited to applications for planning and zoning permits, clearing and
grading permits, building permits and other such permits and approvals required under the FWRC
and necessary to authorize development of the Project or each respective Project -phase ("Project
Entitlement"). Each Project Entitlement application must demonstrate consistency with the vested
Development Regulations and this Agreement, including any Modifications as provided herein.
The City will review the application as provided by the FWRC. The Parties may agree to expedited
review procedures for a Project Entitlement Application subject to Developer's commitment to
fund expedited review and City's ability to secure resources necessary for permit issuance.
14. SEPA Compliance. SEPA review for this Agreement is a non -project level review.
Project -level SEPA review will be required as part of the Project Entitlement Application process
unless exempt under FWRC 14.15.030.
15. Inclusionary Zoning. The Project is subject to affordable housing requirements in
Chapter 19.110 FWRC. The City is accepting a retail subsidy in satisfaction of this requirement.
Developer will provide a 20% discount from market retail lease rates for at least 12,000 sq. ft. of
leasable space in the Project, at least half of which will be provided during Phases I and II, for a
period of 50 years. Developer will use best faith efforts to lease retail spaces to businesses
incorporated in and/or primarily operating in Washington state.
16. Concurrency Review. The Project will be subject to transportation concurrency
review under Chapter 19.90 of the FWRC. Concurrency review will be conducted during Project
Entitlement review for each Project Phase. Any Project Entitlement application submitted while
the City Center Planned Action is in effect will be evaluated under the Planned Action and will be
exempt from concurrency review if the trip generation is below the Planned Action threshold.
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17. Agreement to Run with the Land. For the term of this Agreement, the benefits and
obligations of this Agreement shall run with the land and continue following the subdivision,
leasing, or transfer of ownership to Developer's successors and assigns.
18. Term. The term of this Agreement shall be thirty (30) years from the Effective Date
of this Agreement ("Expiration Date") unless the Term is modified under the provisions of Section
12 of this Agreement. The Parties recognize that neither Party can anticipate all of the potential
changes in Developer's business needs, lease matters, construction techniques, or architectural
design that may occur during that time period. The Vested Code Provisions are not intended to
preclude future interpretations and adjustments in conjunction with specific development
applications for a Project -phase.
19. Construction of Documents. In the event there are any conflicts or ambiguities
between the terms of the body of this Agreement and the terms in any of the Exhibits, the terms of
the body of this Agreement shall control.
20. Recitals. The Recitals are incorporated herein as material terms of this Agreement.
21. Indemnification. Except as otherwise specifically provided elsewhere in this
Agreement and any Exhibits hereto, each Party shall protect, defend, indemnify and hold harmless
the other Party and their officers, agents, and employees, or any of them, from and against any and
all claims, actions, suits, liability, loss, costs, expenses, and damages of any nature whatsoever,
which are caused by or result from any negligent act or omission of the Party's own officers,
agents, and employees in performing services pursuant to this Agreement. In the event that any
suit based upon such a claim, action, loss, or damage is brought against a Party, the Party whose
sole negligent actions or omissions gave rise to the claim shall defend the other Party at the
indemnifying Party's sole cost and expense; and if final judgment be rendered against the other
Party and its officers, agents, and employees or be rendered jointly against the Parties and their
respective officers, agents, and employees, the Party whose sole negligent actions or omissions
gave rise to the claim shall satisfy the same; provided that, in the event of concurrent negligence,
each Party shall indemnify and hold the other Party harmless only to the extent of the indemnifying
Party's negligence. The indemnification to the City hereunder shall be for the benefit of the City
as an entity, and not for members of the general public.
22. Agreement Consistency with RCW 82.02.020. The Developer agrees that the
improvements, mitigation payments and dedications established by this Agreement shall be
consistent with the requirements of RCW 82.02.020 and mitigate the Project's direct impacts.
23. Recording. This Agreement shall be recorded by Developer with the King County
Recorder's Office.
24. Binding Effect; Assi na�bilitX. This Agreement shall bind and inure to the benefit
of the Parties hereto and their respective successors, heirs, legatees, representatives, receivers,
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trustees, successors, transferees and assigns. Developer shall have the right to assign or transfer its
rights, subject to approval of the Designated Official which shall not be unreasonably withheld, in
whole or in part, under this Agreement. Developer shall provide City with written notice of any
transfer or assignment at least thirty (30) days prior to the closing of any transaction.
25. Interpretation. This Agreement has been reviewed and revised by legal counsel for
both Parties, and no presumption or rule construing ambiguity against the drafter of the document
shall apply to the interpretation or enforcement of this Agreement. Nothing herein shall be
construed as a waiver of the City's constitutional and statutory powers. Nothing herein shall be
construed or implied that the City is contracting away its constitutional and statutory powers,
except as otherwise authorized by law.
26. Authority. Each signatory to this Agreement represents and warrants that he or she
has full power and authority to execute and deliver this Agreement on behalf of the Party for which
he or she is signing, and that he or she will defend and hold harmless the other Parties and
signatories from any claim that he or she was not fully authorized to execute this Agreement on
behalf of the person or entity for whom he or she signed. Upon proper execution and delivery, this
Agreement will have been duly entered into by the Parties, will constitute as against each Party a
valid, legal and binding obligation that shall run with the land, and will be enforceable against each
Party in accordance with the terms herein.
27. Delays. If either Party is delayed in the performance of its obligations in this
Agreement due to Force Majeure, then performance of such obligation shall be excused for the
period of delay. Force Majeure means extraordinary natural events or conditions such as war, riot,
pandemic (including but not limited to COVID-19 or its variants) or other causes beyond the
reasonable control of the Developer, but does not include labor disputes. The City's or Developer's
inability to fund, or decision not to fund, any of its obligations shall not be an acceptable reason
for delay.
28. Notices. All notices, requests, demands, and other communications called for or
contemplated by this Agreement shall be in writing, and shall be duly given by mailing the same
by certified mail, return receipt requested; or by delivering the same by hand, to the following
addresses, or to such other addresses as the Parties may designate by written notice in the manner
aforesaid:
Owner: Trent Development Inc.
Attn: Trent Mummery
166 Roy Street
Seattle, WA 98109
Phone: 206-234-6543
Email: trent(d,onetrent.com
And to its Attorney: McCullough Hill PLLC
Attn: Courtney Flora
701 5th Avenue, Suite 6600
Seattle, WA 98104
Phone: 206-812-3376
Email: cflora(abmhseattle.com
City of Federal Way: Designated Official
Attn: Keith Niven
33325 8th Avenue South
Federal Way, WA
Phone: 253-835-2612
Email: keith.nivengfederalwaMa.gov
And to its Attorney: City Attorney
Attn: Ryan Call
33325 8th Avenue South
Phone: 253-835-
Email: ryan.callkfederalwaywa.gov
29. Dispute Resolution. It is the Parties' intent to work cooperatively and to resolve
disputes in an efficient and cost-effective manner. All disputes arising out of or relating to this
Agreement shall be resolved as follows:
29.1. Settlement Meeting. If any dispute arises between the parties relating to this
Agreement, then the parties shall meet and seek to resolve the dispute, in good faith, within
ten (10) days after a Party's request for such a meeting. The City shall send the Designated
Official and persons with information relating to the dispute, and Developer shall send a
representative and any consultant or other person with technical information or expertise
related to the dispute.
29.2 Mediation. If the Parties cannot resolve the issue within ten (10) days then
they shall mediate the matter using a mediator from Judicial Dispute Resolution, LLC or if
that entity fails or declines to serve, such other similar service or organization as agreed by
the parties, or as appointed by the court if the parties cannot agree (collectively "JDR"),
within seven (7) days of their failure to agree pursuant to Section 29.1. The Parties shall
evenly split any fees charged by JDR, regardless of the outcome of the mediation. Each
Party shall bear its own attorneys' fees in connection with the mediation.
29.3. Arbitration. If the Parties have still not resolved the matter, then and only
then shall arbitration be permitted. "Arbitration" for purposes of this Agreement shall be
limited exclusively to arbitration by one arbitrator, administered by JDR in accordance
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with the rules of practice and procedure from the American Association of Arbitration.
The arbitrator shall be someone other than the mediator who served under Section 29.2.
The arbitrator shall establish the procedures and allow presentation of written and oral
information but shall render its final decision within thirty (30) days after the matter is
referred to arbitration. The Parties shall pay equally the cost of the arbitration. Pursuant to
Section 32, the prevailing Party (or the substantially prevailing Party, if no one Party
prevails entirely) shall be entitled to an award of reasonable attorneys' and expert witness
fees and costs. The arbitration proceedings shall be binding, conclusive and, except as
provided below, not appealable, and any Party to any award rendered in any such
arbitration proceeding shall be entitled to have judgment entered thereon. In no event,
however, shall mediation or arbitration be available pursuant to this Section after the date
when institution of legal or equitable proceedings based on such claim, dispute, or other
matter in question would be barred by the applicable statute of limitations.
30. Governiniz Law and Venue. This Agreement shall be governed by and construed in
accordance with the laws of the State of Washington. To extent permitted, venue for any judicial
action arising out of or relating to this Agreement shall lie in King County Superior Court.
31. Specific Performance. The Parties specifically agree that damages are not an
adequate remedy for breach of this Agreement and that the Parties are entitled to compel specific
performance of all material terms of this Agreement by any Party in default hereof. All terms and
provisions of this Agreement are material.
32. Attorneys' Fees. In any arbitration or judicial action to enforce or determine a
Party's rights under this Agreement, the prevailing Party (or the substantially prevailing Party, if
no one Party prevails entirely) shall be entitled to reasonable attorneys' fees, expert witness fees,
and costs, including fees and costs incurred in the appeal of any ruling of a lower court.
33. No Third -Party BeneficiarX. This Agreement is made and entered into for the sole
protection and benefit of the Parties hereto and their successors and assigns. No other person shall
have any right of action based upon any provision of this Agreement.
34. Severability. This Agreement does not violate any federal or state statute, rule,
regulation or common law known; but any provision which is found to be invalid or in violation
of any statute, rule, regulation or common law shall be considered null and void, with the
remaining provisions remaining viable and in effect.
35. Cooperation in Execution of Documents. The Parties agree to properly and
promptly execute and deliver any and all additional documents that may be necessary to render
this Agreement practically effective. This Paragraph shall not require the execution of any
document that expands, alters or in any way changes the terms of this Agreement.
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36. Exhibits. This Agreement includes the following exhibits which are incorporated
by reference herein:
Exhibit A - Legal Description of TC-3 Property
Exhibit B — Conceptual Plan
Exhibit C — Phasing and Timing Plan
Exhibit D - Conceptual Improvement Plan
37. Full Understanding. The Parties each acknowledge, represent and agree that they
have read this Agreement; that they fully understand the terms thereof; that they have had the
opportunity to be fully advised by their legal counsel and any other advisors with respect thereto;
and that they are executing this Agreement after sufficient review and understanding of its
contents.
38. No Joint Venture. This Agreement is not intended to and nothing in this Agreement
shall create any partnership, joint venture or other arrangement between the Parties.
39. Final and Complete Agreement. This Agreement is integrated and constitutes the
final and complete expression of the Parties on all subjects relating to the development of the
Project. This Agreement may not be modified, interpreted, amended, waived or revoked orally,
but only by a writing signed by all Parties. This Agreement supersedes and replaces all prior
agreements, discussions and representations on all subjects discussed herein, without limitation.
No Party is entering into this Agreement in reliance on any oral or written promises, inducements,
representations, understandings, interpretations or agreements other than those contained in this
Agreement and the Exhibits hereto.
40. Covenant of Good Faith and Cooperation. The Parties agree to take further actions
and execute further documents, either jointly or within their respective power and authority, to
implement the intent of this Agreement. Each Party covenants to use its best efforts and work
cooperatively in order to secure the benefits and rights under this Agreement. The Parties shall not
unreasonably withhold approvals or consents provided for in this Agreement.
[SIGNATURE PAGES FOLLOW]
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IN WITNESS, the Parties execute this Agreement below.
CITY OF FEDERAL WAY: ATTEST:
Jim Ferrell, Mayor
DATE:
-22-
Stephanie Courtney, CMC, City Clerk
APPROVED AS TO FORM:
J. Ryan Call, City Attorney
TRENT DEVELOPMENT INC.:
Trent Mummery, President
DATE:
STATE OF WASHINGTON )
) ss.
COUNTY OF
APPROVED AS TO FORM:
Courtney Flora, Attorney
On this day personally appeared before me Trent Mummery, to me known to be the President of
Trent Development Inc. that executed the within and foregoing instrument, and acknowledged the
said instrument to be the free and voluntary act and deed of said corporation, for the uses and
purposes therein mentioned, and on oath stated that he or she was authorized to execute said
instrument and that the seal affixed, if any, is the corporate seal of said corporation.
GIVEN under my hand and official seal this day of , 20_.
Notary's signature
Notary's printed name
Notary Public in and for the State of Washington.
My commission expires
-23-
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PROJECT:
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Federal Way, WA
Preliminary
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Dec. 4, 2023
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PROJECT:
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Dec. 4, 2023
10
9b
COUNCIL MEETING DATE: April 2, 2024 ITEM #:
CITY OF FEDERAL WAY
CITY COUNCIL
AGENDA BILL
SUBJECT: ORDINANCE: TAX INCREMENT FINANCING
POLICY QUESTION: Should the City create a Tax Increment Area to help fund public projects in the
Downtown/City Center area?
COMMITTEE: N/A MEETING DATE: N/A
CATEGORY:
❑ Consent ® Ordinance ❑ Public Hearing
❑ City Council Business ❑ Resolution ❑ Other
STAFF REPORT BY: Keith Niven DEPT: CD
Attachments: 1. Staff Report
2. Ordinance
Options Considered:
1. Adopt the proposed ordinance.
2. Do not adopt the proposed ordinance and provide direction to staff.
MAYOR'S RECOMMENDATION: Option 1.
MAYOR APPROVAL: N/A DIRECTOR APPROVAL: 2.26.24
Committee d C ncil Initial/Date
Initial/Date Ini i Date
COMMITTEE RECOMMENDATION: N/A
Committee Chair Dovev Committee Member Tran Committee Member Walsh
PROPOSED COUNCIL MOTION(S):
FIRST READING OF ORDINANCE (4/2/24): "1 move to forward the proposed ordinance to the April 16, 2024
Council Meetingfor second reading and enactment. "
SECOND READING OF ORDINANCE (4/16/24): "I move approval of the proposed ordinance to create a Tax
Increment Area in Federal Way. "
(BELOW TO BE COMPLETED BY CITY CLERK'S OFFICE)
COUNCIL ACTION:
❑ APPROVED
COUNCIL BILL # ctf
❑ DENIED
First reading
❑ TABLED/DEFERRED/NO ACTION
Enactment reading
❑ MOVED TO SECOND READING (ordinances only)
ORDINANCE #
REVISED—11/2019
RESOLUTION #
CITY OF FEDERAL WAY
MEMORANDUM
DATE: 27 March 2024
TO: City Council
VIA: Jim Ferrell, Mayor
FROM: Keith Niven, AICP, CEcD6j
Community Development Director
SUBJECT: Tax Increment Financing
Financial Impacts:
The financial impact to the City for consideration of a Tax Increment Financing district
contemplates both future property tax revenues, as a result of private development and
investment, and the construction of public improvements and their associated costs, without
which development would not occur at the rate and scale anticipated. It has been forecast that
the Tax Increment Area (TIA) will generate between $30M and $65M over a 25-year period. A
portion of this property tax revenue, approximately $6.5M - $13.7 M, would have gone to the
City's General Fund without the creation of the TIA.
Introduction:
The purpose of this staff report is to provide an overview of the proposed Tax Increment
Financing (TIF) initiative for Downtown Federal Way, including background information,
outlining the TIF purpose, and detailing the adoption process to create a Tax Increment Area
(TIA) in accordance with the Revised Code of Washington (RCW) 39.114.
Background Information:
In 2021, the Washington State Legislature passed House Bill 1189, granting municipalities the
authority to establish Tax Increment Areas (TIAs). These areas enable the funding of public
improvements to facilitate new private development. The City of Federal Way has long pursued a
vision of creating a vibrant, mixed -use downtown and regional destination. Significant efforts
have been made to plan, design, and execute key infrastructure improvements and amenities to
realize this vision.
The assist the City with this effort, the City hired Tiberius Solutions, a consulting firm from
Portland specializing in Tax Increment Financing.
TIA Implementation in Downtown Federal Way:
The TIA for Downtown Federal Way aims to revitalize the currently suburban, auto -centric, and
unremarkable downtown area into a vibrant and walkable neighborhood and regional destination.
By utilizing tax increment financing, the city intends to generate funding for public
improvements that will facilitate private development and create a distinct urban environment.
On January 21, 2023, the concept of implementing a TIA for Downtown Federal Way was
introduced at the Council Retreat. The proposal received initial support and marked the
beginning of the comprehensive analysis and planning process.
The soon -to -be -opened Sound Transit station in downtown Federal Way, coupled with the City's
investment, presents an unprecedented opportunity to redefine the pace and character of
downtown growth and redevelopment. By leveraging TIF funding, the City aims to implement
transformative changes that will shape downtown Federal Way into a distinctive, mixed -use, and
walkable central hub in the community.
The transformation of City -owned property Downtown (TC-3) is already underway with the
Development Agreement negotiations currently occurring between City staff and One Trent, the
selected developer. A number of the conditions of the agreement are contingent on the timing of
the public improvements such as the public parking garage, plaza, associated infrastructure.
The draft City of Federal Way Tax Increment Area - Project Analysis Report, prepared by
Tiberius Solutions (attached), plays a crucial role in providing a thorough evaluation of the TIA's
feasibility and potential impact. This report assesses various aspects, including projected tax
revenues, infrastructure improvements, and the overall viability of TIF for this area of Federal
Way.
Adoption Process:
The adoption of a TIA in Washington State must adhere to the procedures outlined in the
Revised Code of Washington (RCW) 39.114. These requirements emphasize the need for
community engagement, review by the Office of Treasurer (Attachment 2), and a transparent
adoption process.
The Public Outreach conducted is presented in Appendix B of the Tax Increment Report
(Attachment 1 of this Staff Report).
City of Federal Way March 27, 2024 ii
Attachment 1: TIA Report
City of Federal Way
Tax Increment Area
Project Analysis Report
CITY OF
Ak., Federal Way
Centered on Opportunity
City of Federal Way March 27, 2024 iii
Acknowledgments
This report was prepared for the City of Federal Way by Tiberius Solutions, a limited liability
corporation headquartered in Portland, Oregon. Tiberius Solutions specializes in infrastructure
funding and tax increment financing analysis, helping clients achieve their economic and
financial goals.
Tiberius Solutions is not a registered municipal advisor as defined in Section 15B of the
Securities Exchange Act, as amended by Section 975 of the Dodd -Frank Wall Street Reform and
Consumer Protection Act. The contents of this report are intended to provide factual information
and is not intended to be construed as advice or recommendations regarding any specific
municipal financial products. The City should discuss any information and material contained in
this report with any and all internal or external advisors and experts that the City deems
appropriate before acting on this information.
Other firms that contributed to this report include:
■ Elaine Howard Consulting, LLC led the City's efforts for public outreach and community
engagement on this project.
■ Johnson Economics conducted technical analysis related to the forecast of future private
development in the area, and economic impacts related to job creation and housing
affordability.
■ PFM Financial Advisors LLC (PFM) served as the City's municipal financial advisor, providing
advice on reasonable assumptions for the terms of future indebtedness.
Tiberius Solutions acknowledges the assistance and data provided by staff at the City who were
deeply involved in the preparation of this report, providing input on key assumptions and review
of all analysis. Tiberius Solutions would also like to thank the valuable contributions made by the
King County Assessor's Office and the Office of the Washington State Treasurer, who provided
data used in the analysis and guidance on the content of this report. Despite the assistance of
other public and private -sector entities, Tiberius Solutions is responsible for the contents of this
report.
TIBERIUS ELAINE HOWARD
oe__e
SOLUTIONS FE
� CONSULTING LLC
JOH NSON
ECONOMICS
City of Federal Way March 27, 2024 iv
Table of Contents
1.1
BACKGROUND AND PURPOSE 1
1.2
BOUNDARY 1
1.3
OBJECTIVES III
2 ANTICIPATED DEVELOPMENT IV
2.1 PUBLIC IMPROVEMENTS
2.2 PRIVATE DEVELOPMENT
2.3 IMPACT OF PUBLIC PROJECTS ON PRIVATE DEVELOPMENT
3 FINANCE PLAN
3.1 FORECAST OF TAX ALLOCATION REVENUES
3.2 PROPOSED INDEBTEDNESS
IV
VI
VIII
IX
IX
XXI I
4 ECONOMIC IMPACTS XXV
4.1
JOB CREATION
XXV
4.2
FISCAL IMPACTS
XXIX
4.3
AFFORDABLE AND LOW-INCOME HOUSING
XXXI
4.4
LOCAL BUSINESS COMMUNITY
XXXIV
4.S
LOCAL SCHOOL DISTRICT
XXXIV
4.6
LOCAL FIRE SERVICE
XXXVI
S EVALUATION OF RISK FACTORS XXXVIII
S.1
GENERAL ECONOMIC CONDITIONS
XXXVIII
S.2
FUTURE ASSESSED VALUES AND TAX RATES
XL
S.3
FUTURE PUBLIC COSTS OF CONSTRUCTION AND/OR BORROWING
XLI
SA
OTHER CITY REVENUES
XLI
S.S
NON -VOTED DEBT LIMIT
XLII
S.6
SEISMIC ACTIVITY AND OTHER NATURAL DISASTERS
XLII
S.7
INITIATIVES AND REFERENDA
XLII
S.8
CITY OF FEDERAL WAY'S APPROACH TO FINANCIAL UNCERTAINTY
XLII
APPENDIX A: TAX LOTS INCLUDED IN THE PROPOSED FEDERAL WAY TIA BOUNDARY XLIV
APPENDIX B: SUMMARY OF PUBLIC OUTREACH XLVI
APPENDIX C: ALTERNATE SCENARIO XLVIII
City of Federal Way March 27, 2024 v
Summary
How Tax Increment Financing Works
In 2021, the Washington State Legislature passed House Bill 1189, allowing some municipalities
(cities, counties, and ports) to establish Tax Increment Areas (TIAs) to fund public improvements
that allow for new private development to occur. I Revised Code of Washington (RCW) 39.114
describes the legislative requirements for tax increment financing in Washington. Each TIA must
have a clearly defined boundary and a list of public improvement projects to be funded in the
area. Some of the property taxes generated by increases in assessed value in a TIA are allocated
to the TIA to help pay for the public projects in the area. The result is each TIA redirects some of
the taxes that would have been collected by other taxing districts for the TIA projects instead.
Revenues generated from the growth in assessed value within a TIA are not restricted by other
RCW provisions that would otherwise limit the jurisdiction's levy amount to no more than 101
percent of the prior year's levy authority.
With a TIA, a municipality can borrow money to fund important public projects in an area, and
then pay back the cost of those projects with property tax revenues generated by the increased
property value of new private development inside the TIA. TIAs can collect property taxes for no
more than 25 years. The projects funded by a TIA are intended to stimulate new construction that
occurs sooner or with higher values than would otherwise be expected to occur. Thus, some of
the property taxes received by TIAs would not exist without the new public projects paid for by
the TIA.
When a municipality establishes a TIA, the current value of property in the TIA is "frozen" and
called the base value. Property taxes paid on the base value are paid as usual to the taxing
districts that collect property taxes in the area. Over time, the property values in the TIA are
expected to increase. Property value above the base value is called the increment value. Some
property taxes paid on the increment value are distributed to the TIA, called tax allocation
revenues. Some taxes, like school district excess levies, are identified in RCW as not impacted
by TIAs. Thus, some taxing districts continue to receive taxes paid on the increment value, like
usual.
Anticipated Public Improvements
The proposed City of Federal Way (City) TIA includes 233.7 acres and is generally bordered by
Interstate 5 to the East, S 312th Street to the North, Highway 99 to the West, and S 330th Street to
the South. The development of this area is vital to the City's goal to transform a suburban, auto -
centric and non -remarkable area of Federal Way into a distinct, vibrant, and walkable downtown.
For this development to occur, the City must complete many significant infrastructure projects,
including:
■ Public Parking
■ Recreation Projects
■ Mobility Projects
1 The tax increment financing program was subsequently amended by house bill 1527 in 2023.
City of Federal Way March 27, 2024 vi
■ Community Building
■ Public Safety Projects
■ Placemaking Projects
The cost of these projects is estimated to range between $72 and $170 million in 2023 dollars,
and tax allocation revenues from the proposed TIA would provide essential funding for these
projects. When considering the impacts of inflation and interest on debt, the cost of the public
projects would be more than the amount of tax allocation revenues generated in the proposed
TIA. The City assumes some of the project costs would need to be paid for by additional funding
sources.
Anticipated Private Development
In 2023 the City issued a request for proposals for professional services to prepare a Town Center
Master Development Plan for City -owned property that will be a cornerstone project in the City's
effort to revitalize the downtown. As a result of this process, the City accepted a proposal from
One Trent, a Seattle -based real estate development firm. As of the writing of this report, the City
is currently negotiating a development agreement with One Trent, who plan to develop a four -
phase mixed -use project within the proposed TIA, including residential opportunities in the form
of rental apartments and townhomes for homeownership, retail and office, with an expected
taxable value of $472 million (in 2023 dollars). Additional market analysis was completed to
identify speculative future development opportunities based on current market conditions. It is
estimated that future speculative development in the proposed TIA would result in an additional
$1.1 billion (in 2023 dollars) in improvement value being added to the tax rolls over the life of
the proposed TIA (by 2049).
Impacts to Taxing Districts
The proposed TIA is forecast to receive $68.9 million in tax allocation revenues over the course
of 25 years, ending in 2049. This would result in an equal amount of "foregone" property tax
revenues from impacted taxing district levies. However, RCW 84.55.010 allows taxing districts
to increase the amount of their levy to account for growth in assessed value inside a TIA. This
would result in slightly higher overall levy amounts and tax rates for impacted taxing districts.
Thus, the net impact the TIA would have on taxing district levies is $64.1 million, which is less
than the total amount of tax allocation revenues received. The proposed TIA would receive tax
allocation revenues from the following levies:
■ King County: Regular, Lid Lifts, Transportation, Conservation Futures
■ County Flood Zone
■ County Ferry District
■ Port of Seattle: General Fund
■ EMS
■ Sound Transit
■ City of Federal Way
City of Federal Way March 27, 2024 vii
■ King County Library System: General Fund
■ South King Fire & Rescue (Fire District 39)
The following levies are not impacted by the proposed TIA, and therefore would receive
additional property tax revenues from new private development in the proposed TIA as soon as
construction is complete:
■ State Schools (Part 1 and 2)
■ King County Bonds (voted) levy
■ Port Bond Fund levy
■ Federal Way Public Schools (Maintenance & Operations, Construction, and Bond levies)
■ Library GO Bond levy
■ Fire District 39 / South King Fire and Rescue (Maintenance & Operations and GO Bond levies)
Economic impact5
The proposed TIA is expected to generate substantial economic impacts for the local and regional
economy. The infrastructure investments supported by the proposed TIA would support a
significant level of development, with substantial employment from construction as well as
ongoing business activity. The total estimated economic impacts (direct, indirect, and induced)
from the construction phase are roughly 4,201 FTE positions and $351.3 million in labor income
(2023 dollars).
Following development, the completed structures are expected to generate ongoing impacts to
the local and regional economy. Employees at the office and retail spaces are expected to
generate income that would circulate in the local economy, supporting additional employment
and tax revenues. The overall level of employment in the proposed TIA is estimated at 632 when
completed and tenanted.
The remainder of this Report details all assumptions used for the analysis of the potential TIA.
City of Federal Way March 27, 2024 viii
1 Background
1.1 Background and Purpose
The City of Federal Way incorporated as a city in 1990 in response to the community desire to
take more control over how the city would develop and grow over time, as opposed to leaving the
decisions to King County. Included in that vision was a recognizable downtown. The downtown,
or "City Center" does not currently present an identifiable sense of a downtown or urban center.
However, things are changing. With a population just over 100,000, the City is actively taking
steps to transform itself into a welcoming city in the Puget Sound region, with an identifiable and
memorable downtown.
The City has taken initial steps in transforming the City Center into a true downtown for the
community. The City built the Performing Arts & Entertainment Center (PAEC) and the Town
Square Park as initial cornerstone elements aimed at defining the City Center neighborhood. In
2026, a Sound Transit light rail station will allow residents, employees, and visitors greater
transit access to and from the City Center. As part of the station opening, Sound Transit will be
selling approximately six acres in this neighborhood for transit -oriented development. The City
owns approximately 7.5 acres of redevelopable property east of the PAEC and north of Town
Square Park and the Federal Way Transit Center.
The City sees the Town Center as a central gathering place for community where the whole
community can congregate and celebrate. Civic and cultural facilities, including the PAEC, park,
and open -space system, will meet the needs of residents, employees and visitors. These amenities
will connect to the citywide and regional system of open spaces, parks, and trails. Public and
private projects will contain design elements such as wayfinding, public art pieces, iconic
infrastructure and decorative landscaping.
1.2 Boundary
Exhibit 1 shows a map of the boundary for the proposed Federal Way Tax Increment Area (TIA),
including all tax lots included within the boundary. The boundary includes 229 acres and is
generally bordered by Interstate 5 to the East, S 312th Street to the North, Highway 99 to the
West, and S 330th Street to the South. All parcels are zoned City Center Core, City Center -Frame,
Community Business, or Multi -Family Residential. Excluding rights -of -way, parcels zoned City
Center Core compose 52% of the acreage and 58% of the current taxable assessed real property
value. Parcels zoned RM3600 (1 unit/3,600 square feet), a Multi -Family Residential zone,
compose 30% of acreage and 23% of taxable assessed value. Parcels zoned City Center Frame
compose 14% of acreage and 17% of taxable assessed real property value, and parcels zoned
Community Business compose 4% of acreage, and 2% of taxable assessed real property value.
Exhibit 1. Proposed Federal Wav TIA Bounda
Q Tax Increment Ai
Tax Increment Ai
0.5 HERE, Garmin, (c) OpenStreetMap contributors, and the
user community
Source: Tiberius Solutions with data from the King County Assessor's Office
Appendix A provides a list of all 130 tax lots included within the proposed TIA boundary. These
properties are located within tax code areas 1202 and 1205. They had a combined appraised
value of $407,958,900 and assessed value of $196,019,600 for tax year 2024.2
RCW 39.114 establishes limits for the taxable assessed value of all property included within
2 This document was originally prepared in 2023 using tax year 2023 data. Portions of the analysis were subsequently
updated in March 2024 with tax year 2024 data.
Rev. 7/18
TIAs for a jurisdiction. When the ordinance establishing the TIA is passed, the TIA may not have
an assessed valuation of more than $200 million or 20 percent of the total assessed valuation of
the City of Federal Way (whichever is less). The total assessed valuation of the City in tax year
2023 was $17,270,222,086, which means that 20 percent of that assessed valuation is
$3,454,044,417. Thus, $200 million is the applicable threshold for the maximum amount of
assessed value that can be included in the proposed TIA. As stated previously, all of the tax lots
within the proposed TIA boundary have a total taxable assessed value of $196,019,600 in tax
year 2024. Thus, the proposed TIA boundary complies with the limitations on assessed value
described in RCW. These calculations are shown below in Exhibit 2.
Exhibit 2. Calculations of Limitations on Assessed Value, Proposed Federal Way TIA
Total Assessed Value, City of Federal Way, 2023 $17,270,222,086
20% of Total Assessed Value
Statutory Limit
Assessed Value of TIA, 2024
In Compliance with RCW?
Remaining Capacity
$ 3, 454, 044, 417
$ 200, 000, 000
$ 196,019,600
Yes
$ 3,980,400
Source: Tiberius Solutions with data provided by the King County Assessor's Office
RCW 39.114 requires the City to identify any property that it intends to acquire within the
proposed TIA boundary. At the time of writing this report, the City has not identified any specific
properties it intends to acquire within the proposed TIA boundary.
1.3 Objecti ve5
The City has identified the following goal and objectives for the proposed TIA:
Goal
Transform a suburban, auto -centric and non -remarkable area of Federal Way into a distinct,
vibrant, and walkable downtown.
Objectives
■ Utilize creative funding tools to help achieve the Goal.
■ Leverage the regional investment in high -capacity transit; the sale of City -owned property;
and, local investment to attract high -quality, private development that will catalyze
redevelopment.
■ Prioritize walkability and enhanced non -motorized connections. Construct pedestrian -
oriented infrastructure improvements that that improve mobility.
■ Invest in community gathering areas and placemaking to define the area and create a
destination for the community.
Rev. 7/18
2 Anticipated Development
2.1 Public lmprovements
The following public improvements may be funded in part or whole by tax allocation revenues
generated by the proposed TIA:
A. Public Parking. These projects may include:
■ Land acquisition
■ A stand-alone parking garage
■ Public parking integrated into a private garage
■ Shared parking agreements w/ other parties
■ Other equivalent projects that would add parking
B. Recreation Projects. These projects may include:
■ Land acquisition
■ New park or park expansion
■ Civic plaza
■ Park improvements
■ Other equivalent projects that would add recreational amenities
C. Mobility Projects. These projects may include:
■ S 3201" Dip (Dipping S 3201" Street under 21" Ave S for a pedestrian/bicycle at -grade
crossing)
■ Pedestrian promenade
■ Protected bike lanes
■ Transit shelters
■ Bicycle lockers
■ City Center Access
■ Other equivalent projects that would increase mobility
D. Community Building. These projects may include:
■ Land acquisition
■ Public market
■ Senior center
■ City Hall
Rev. 7/18
• Community Center north
■ Downtown meeting room
■ Other equivalent projects that would add an indoor community space to the district
E. Public Safety Projects. These projects may include:
■ Land acquisition
■ Improvements to benefit Federal Way Police Department
■ Improvements to benefit South King Fire & Rescue
■ Improvements to lessen code compliance issues
■ Other equivalent projects that would improve public safety
F. Placemaking Projects. These projects may include:
■ Gateway features
■ Wayfinding signs
■ Pedestrian nodes/public spaces
■ Public art
■ Lighting (e.g. catenary lights, etc.)
■ Special street furniture
■ Other equivalent projects that would improve placemaking
Exhibit 3 summarizes the estimated cost and prioritization for each of these public
improvements. Collectively, these projects are estimated to between $72 million and $170
million in 2023 dollars.
Exhibit 3. Public Improvements to be Funded with Tax Allocation Revenues, Proposed Federal
Wav TIA (2023 $)
Estimated Project Cost Range (2023$)
Project
Low
High
Priority
A
Public Parking
$
27,000,000
$
30,000,000
High
B
Recreation
$
10,000,000
$
16,000,000
High
C
Mobility
$
30,000,000
$
60,000,000
Medium
D
Community Building
$
3,000,000
$
60,000,000
Medium
E
Public Safety
$
1,000,000
$
1,000,000
Low
F
Placemaking
$
1,000,000
$
3,000,000
Low
Total $ 72,000,000 $ 170,000,000
Source: City of Federal Way
RCW 39.114.020 requires the City to impose a deadline by which commencement of
construction of the public improvements shall begin, "which deadline must be at least five years
into the future..." Thus, for the proposed Federal Way TIA, the deadline for construction of
public improvements to begin is 2028.
Rev. 7/18
2.2 Private Development
In 2023 the City issued a request for proposals for professional services to prepare a Town Center
Master Development Plan for City -owned property that will be a cornerstone project in the City's
effort to revitalize the downtown. As a result of this process, the City accepted a proposal from
One Trent, a Seattle -based real estate development company. As of the writing of this report, the
City is currently negotiating a development agreement with One Trent, who plan to develop a
four -phase project within the proposed TIA (apartments and office or condos), with an expected
taxable value of $472 million (in 2023 dollars).
One Trent intends to apply for the City's Multifamily Tax Exemption (MFTE), which would
result in an eight -year tax exemption on eligible value. The City's MFTE program is authorized
by RCW 84.14 to incentivize residential construction in urban centers. The City has designated
certain "residential targeted areas," where new construction is eligible for MFTE benefits. The
proposed TIA overlaps with a designated residential targeted area. To qualify, new construction
projects must be located within the designated residential targeted areas, and must include at least
16 new multifamily units. There are no affordability restrictions related to the 8-year exemption.
However, to qualify for a 12-year exemption, projects must meet certain thresholds for housing
affordability, as described in City code.
This analysis assumes that for Phases 1, 2, and 3 of the One Trent development, over 95% of
total taxable value would be eligible for the exemption. This analysis assumes Phase 4 would not
be eligible for the exemption. Exhibit 4 summarizes the forecast assessed value from this
development.
Exhibit 4. One Trent Development Plan
Taxable Value of
Development
Completion
Development
MFTE-Eligible
Non MFTE-
Phase
Type
Year
(2023 $)
Value
Eligible Value
Phase 1
Apartments
2027
$
179,827,337
$ 172,312,858
$
7,514,479
Phase 2
Apartments
2028
$
110,900,540
$ 107,920,895
$
2,979,645
Phase 3
Apartments
2030
$
118,393,420
$ 115,507,471
$
2,885,949
Phase 4
Condos
2032
$
63,355,171
$ -
$
63,355,171
Total
$
472,476,468
$ 395,741,224
$
76,735,244
Source: Tiberius Solutions with data and input from the City of Federal Way
Additional market analysis was completed to identify speculative future development
opportunities based on current market conditions. The analysis was conducted by Johnson
Economics, using proprietary development models to evaluate the likelihood of future
development on all tax accounts inside the proposed TIA that were not associated with the One
Trent development. The analysis estimated the residual land value of each tax lot, based on
zoning and current market conditions. Properties with the lowest ratio of real market value to
estimated residual land value were forecast to have the highest likelihood of future development.
The likelihood of development for each parcel over the 25-year forecast period ranged from 1 %
to 22%. Of the 9.4 million square feet of potentially developable or redevelopable properties in
the proposed TIA, the analysis estimates 17% would experience new development over the 25-
year forecast period, resulting in a total of 5,208 new housing units, and $1.60 billion in
speculative new construction value (in 2023 dollars).
The analysis conservatively assumes that no speculative development would occur until the One
Rev. 7/18
Trent development has broken ground (estimated 2026). Based on conversations with City staff
regarding expectations of the use of the MFTE, this analysis assumes that 80% of new
construction value within the proposed TIA would be multifamily, and that 100% of that value
would be eligible for the 8-year MFTE. It is estimated that future speculative development in the
proposed TIA would result in an additional $1.14 billion in improvement value (in tax year 2023
dollars) being added to the tax rolls over the life of the proposed TIA (construction occurring
through 2047, and coming on the tax roll through 2049).
Exhibit 5 summarizes the private development forecast to occur in the proposed TIA, both from
One Trent and the speculative development through 2049. When new projects complete
construction, there is a delay before that increase in assessed value is reflected on the tax roll.
This evaluation conservatively assumes that new construction in the proposed TIA is added to
the tax roll two years after construction is completed. Property value that qualifies for the MFTE
exemption would have an additional eight -year delay (ten years after construction is completed)
before being added to the tax roll.
Exhibit S. Summary of Estimated Private Development, Proposed Federal Way TIA (2023 $)
Taxable Aseesed Value (2023 $)
Year on
Tax Roll
OneTrent
Development
Speculative
Development
2028
$
-
$
14,583,047
2029
$
7,514,479
$
14,583,047
2030
$
2,979,645
$
14, 583, 047
2031
$
-
$
14, 583, 047
2032
$
2,885,949
$
14, 583, 047
2033
$
-
$
14, 583, 047
2034
$
63, 355,171
$
14, 583, 047
2035
$
-
$
14,583,047
2036
$
-
$
72,915,233
2037
$
172,312,858
$
72,915,233
2038
$
107,920,895
$
72,915,233
2039
$
-
$
72,915,233
2040
$
115,507,471
$
72,915,233
2041
$
-
$
72,915,233
2042
$
-
$
72,915,233
2043
$
-
$
72,915,233
2044
$
-
$
72,915,233
2045
$
-
$
72,915,233
2046
$
-
$
72,915,233
2047
$
-
$
72,915,233
2048
$
-
$
72,915,233
2049
$
-
$
72,915,233
Total
$
472,476,468
$
1,137,477,637
Source: Johnson Economics and Tiberius Solutions with data and input from City of Federal Way
Rev. 7/18
2.3 Impact of Public Projects on Private Development
The development assumptions included in this analysis reflect a scenario where the TIA provides
funding for a portion of the public projects identified in this report. Without these vital
infrastructure improvements, we do not anticipate significant new construction to occur within
the proposed TIA boundary in the near future. The private development forecast in this analysis
would not reasonably be expected to occur solely through private investment within the
reasonably foreseeable future without the proposed public improvements. The increase in
assessed value within the increment area that could reasonably be expected to occur without the
proposed public improvements would be less than the increase in the assessed value estimated to
result from the proposed development with the proposed public improvements.
There are currently no projects in the proposed TIA boundary under construction, or with
approved permits for construction. The City -owned property within the boundary is anticipated to
be the site best situated for new private construction. The City received six responses to its RFP
for a master developer for the City -owned property, and all respondents determined that public
investments would be necessary on the part of the City to make private development feasible on
the site.
Additional speculative development is not expected to occur in the area until after construction
begins on the City -owned property, which would include City investment in public infrastructure
and amenities in the area. With these proposed investments in public projects, the City -owned
site should act as a catalyst project for private development in the surrounding area, encouraging
more private development activity to occur. Even with the projected public improvements, this
analysis assumes that only 17% of the properties within the proposed TIA boundary would
experience speculative future development over the 25-year life of the proposed TIA.
Rev. 7/18
3 Finance Plan
3.1 Forecast of Tax Allocation Revenues
Tax allocation revenues generated within the proposed TIA would provide a critical source of
funding to pay for the public improvements identified in this report. The tax increment area is
expected to take effect on June 1, 2024, following the adoption of the ordinance establishing the
proposed TIA. Based on this timing, the first year the proposed TIA would be eligible to receive
tax allocation revenues is 2025.
The duration of the proposed TIA shall be no more than 25 years after the first year in which tax
allocation revenues are collected. This analysis assumes that the final year the proposed TIA
would be eligible to receive tax allocation revenues is 2049. In the remainder of this section, the
assumptions and methods for forecasting future tax allocation revenues are described.
Determine the Annual Levy Rates
Property tax levies included in the calculation of tax allocation revenues are limited to "regular
property taxes" as defined in RCW 84.04.140, except regular property taxes levied by port
districts and public utility districts to repay general obligation debt and regular property taxes
levied by the state for the support of common schools. Regular property taxes also do not include
any levies that are exempt from aggregate limits for junior/senior limits in RCW 84.52.043 or
excess property taxes levied by local school districts.
Exhibit 6 shows the regular property tax levies that are included in the calculation of tax
allocation revenues for the proposed TIA, and the rates associated with each of these levies in
2023. Although the proposed TIA overlaps two individual tax code areas (1202 and 1205), the
property tax levies included in each are the same. This report therefore does not calculate tax
allocation revenues nor report values by individual tax code area, but instead groups all tax code
areas together.
Rev. 7/18
Exhibit 6. Levies Included in Calculation of Tax Allocation Revenues, Proposed Federal Way
TIA, All Tax Code Areas, Tax Year 2023
Taxing District
2023 Levy
Rate(Per
$1,000 AV)
County -wide regular levy (non -voted)
$
0,481920
AFIS (Fingerprint ID) Lid Lift
$
0.026810
Parks Lid Lift
$
0.171430
Human Srvs/Vets Lid Lift
$
0,078790
Children/Familty Justice Ctr, Lid Lift
$
-
Best Start for Kids Lid Lift
$
0.162970
Radio Communications Lid Lift
$
0.041310
County -wide Transport levy
$
0.037210
County Cons. Futures
$
0,062500
County Flood Zone
$
0,067170
County Ferry District
$
0.007780
Port General Fund
$
0.054730
EMS (voted)
$
0.209220
Sound Transit
$
0.155760
City General Fund
$
0.687290
Library General Fund
$
0.234330
Fire 39 General Fund
$
1.251370
Total
$
3,730590
Source: Tiberius Solutions with data provided by the King County Assessor's Office
These levy rates are expected to change over time, based on increases in each jurisdiction's levy
authority and changes in assessed value of property within those jurisdictions. Historically, these
tax rates have decreased over time, as growth in assessed value has outpaced growth in levy
authority. This analysis assumes that those historical trends would continue, with rates decreasing
over time.
To forecast future changes in tax rates for jurisdictions impacted by the proposed Federal Way
TIA, we forecast growth in assessed value for each jurisdiction, distinguishing between growth
from appreciation of existing property and growth from new construction. Recent historical
trends for assessed value growth in King County have been unsustainably high and are unrealistic
to assume will continue for the 25-year duration of the proposed TIA. Instead, we look at long-
term historical trends for per capita personal income growth as the basis for forecasting
appreciation of existing property values, and we look at forecasts of population growth as the
basis for forecasting the increase in assessed value from new construction.
Per capita personal income growth is strongly correlated with growth in property values. Data
from the Federal Reserve for personal income growth in King County shows that the five-year
rolling average from 1977 to 2012 was between 4.4% to 6.6% per year.3 Growth has been more
rapid over the last decade, but that rapid growth is unlikely to be sustainable in the future. Based
on the long-term trends, we assume average annual growth of 5.1% for personal income, and thus
3 U.S. Bureau of Economic Analysis, Per Capita Personal Income in King County, WA [PCP153033], retrieved from FRED,
Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCP153033, June 12, 2023.
Rev. 7/18
5.1 % annual growth in assessed value from appreciation of existing properties for all years of the
forecast period.
Assessed value growth from new construction is correlated with population growth. The most
recent State Growth Management Act (GMA) population forecasts for King County were
conducted in 2022 and cover the period from 2025 to 2050. This forecast calls for gradual
slowing of population growth in the County, with an average annual growth rate of 0.9% from
2025 to 2031, 0.8% from 2031 to 2038, 0.7% from 2039 to 2049, and 0.6% in 2049. We apply
those same percentage growth assumptions to our forecast of assessed value from new
construction countywide (and apply the 0.9% growth rate for the years before this forecast, 2023-
2025). This forecast of future growth in assessed value from new construction countywide is not
directly tied to forecasts of construction activity within the proposed TIA, as the annual growth in
assessed value in the proposed TIA is estimated to be only a fraction of the total forecast
countywide in any given year.
Exhibit 7, Exhibit 8, and Exhibit 9 show the forecast of future levy rates applicable for the TIA.
The total applicable levy rate for the proposed TIA is forecast to decrease from $3.730590 in
2023 to $1.158482 in 2049. This analysis conservatively assumes that no potential future levies
or extensions of current levy lid lifts would be approved by voters.
Rev. 7/18
Exhibit 7. Forecast of Future Levy Rates, Proposed Federal Way TIA (1 of 3)
Tax
Year
County -wide
regular levy
(non -voted)
AFIS
(Fingerprint
ID) Lid Lift
Parks Lid Lift
Human
Srvs/Vets Lid
Lift
Children/Fam
ilyjustice Ctr.
Lid Lift
Best Start for
Kids Lid Lift
2023
$ 0.481920
$
0.026810
$ 0.171430
$ 0.078790
$
$ 0.162970
2024
$ 0,461511
$
0.025676
$ 0.163327
$ -
$
$ 0.155267
2025
$ 0.443665
$
-
$ 0.157011
$
$
$ 0.149263
2026
$ 0,426504
$
$ -
$
$
$ 0.143489
2027
$ 0.410007
$
$
$
$
$ 0.137939
2028
$ 0.394149
$
$
$
$
$ -
2029
$ 0.378904
$
$
$
$
$
2030
$ 0.364248
$
$
$
$
$
2031
$ 0.350160
$
$
$
$
$
2032
$ 0.336603
$
$
$
$
$
2033
$ 0.323572
$
$
$
$
$
2034
$ 0.311045
$
$
$
$
$
2035
$ 0.299003
$
$
$
$
$
2036
$ 0,287427
$
$
$
$
$
2037
$ 0.276300
$
$
$
$
$
2038
$ U65606
$
$
$
$
$
2039
$ 0.255316
$
$
$
$
$
2040
$ 0,245423
$
$
$
$
$
2041
$ 0.235914
$
$
$
$
$
2042
$ 0,226773
$
$
$
$
$
2043
$ 0.217985
$
$
$
$
$
2044
$ 0,209539
$
$
$
$
$
2045
$ 0.201419
$
$
$
$
$
2046
$ 0,193614
$
$
$
$
$
2047
$ 0.186112
$
$
$
$
$
2048
$ 0.178900
$
$
$
$
$
2049
$ 0.171961
$
$
$
$
$
Source: Tiberius Solutions
Rev. 7/18
Exhibit
Tax
Year
8. Forecast of
Radio
Communicat-
ions Lid Lift
Future Levy
County -wide
Transport
levy
Rates, Proposed Federal Way TIA (2 of 3)
County Cons. County Flood County Ferry
Futures Zone District
Port General
Fund
2023
$ 0.041310
$ 0.037210
$
0.062500
$
0.067170
$
0.007780
$ 0.054730
2024
$ 0,039561
$ 0.035634
$
0.059675
$
0.064341
$
0.007452
$ 0.052412
2025
$ -
$ 0.034257
$
0.057367
$
0,061853
$
0.007163
$ 0.050385
2026
$
$ 0.032932
$
0.055148
$
0.059461
$
0.006886
$ 0.048437
2027
$
$ 0.031658
$
0.053015
$
0,057161
$
0.006620
$ 0.046563
2028
$
$ 0.030433
$
0.050965
$
0.054950
$
0.006364
$ 0.044762
2029
$
$ 0.029256
$
0.048993
$
0,052824
$
0.006118
$ 0.043031
2030
$
$ 0.028125
$
0.047098
$
0.050781
$
0.005881
$ 0,041366
2031
$
$ 0,027037
$
0,045277
$
0,048817
$
0,005654
$ 0,039766
2032
$
$ 0.025990
$
0.043524
$
0.046927
$
0.005435
$ 0.038227
2033
$
$ 0.024984
$
0,041839
$
0,045110
$
0,005224
$ 0.036747
2034
$
$ 0.024017
$
0.040219
$
0.043364
$
0.005022
$ 0.035324
2035
$
$ 0.023087
$
0.038662
$
0.041685
$
0.004828
$ 0.033957
2036
$
$ 0.022193
$
0.037165
$
0,040071
$
0.004641
$ 0.032642
2037
$
$ 0.021334
$
0.035726
$
0.038520
$
0.004461
$ 0.031378
2038
$
$ 0.020508
$
0.034344
$
0,037029
$
0.004289
$ 0.030164
2039
$
$ 0.019714
$
0.033013
$
0.035595
$
0.004122
$ 0.028995
2040
$
$ 0.018950
$
0.031734
$
0,034215
$
0.003963
$ 0.027872
2041
$
$ 0.018216
$
0.030504
$
0.032890
$
0.003809
$ 0.026792
2042
$
$ 0.017510
$
0.029322
$
0.031615
$
0.003661
$ 0.025754
2043
$
$ 0.016831
$
0.028186
$
0.030390
$
0.003520
$ 0.024756
2044
$
$ 0.016179
$
0.027094
$
0.029213
$
0.003383
$ 0.023797
2045
$
$ 0.015552
$
0.026044
$
0.028081
$
0.003252
$ 0.022874
2046
$
$ 0.014949
$
0.025035
$
0.026993
$
0.003126
$ 0.021988
2047
$
$ 0.014370
$
0.024065
$
0.025947
$
0.003005
$ 0.021136
2048
$
$ 0.013813
$
0.023132
$
0.024941
$
0.002889
$ 0.020317
2049
$
$ 0.013278
$
0.022235
$
0.023974
$
0.002777
$ 0.019529
Source: Tiberius Solutions
Rev. 7/18
Exhibit 9. Forecast of Future Levy Rates, Proposed Federal Way TIA (3 of 3)
Tax
Year
EMS
(Voted)
Sound Transit
City
General
Fund
Library
General Fund
Fire 39
General Fund
Total
2023
$
0.209220
$
0.155760
$
0.687290
$
0.234330
$
1.251370
$
3.730590
2024
$
0,200362
$
0.149187
$
0.656254
$
0.224234
$
1.192334
$
3.487226
2025
$
0.192614
$
0.143418
$
0.631209
$
0.215564
$
1.146586
$
3.290355
2026
$
0,185164
$
0.137871
$
0.606795
$
0.207226
$
1.102237
$
3.012149
2027
$
0.178002
$
0.132538
$
0.583324
$
0,199211
$
1.059604
$
2.895642
2028
$
0.171117
$
0.127411
$
0.560762
$
G.191506
$
1.018619
$
2.651037
2029
$
0,164498
$
0.122483
$
0.539093
$
0,184098
$
0.979242
$
2.548541
2030
$
0.158136
$
0.117746
$
0.518271
$
0.176978
$
0.941399
$
2.450030
2031
$
0.152019
$
0,113192
$
0,498248
$
0,170133
$
0,905011
$
2.355313
2032
$
0.146134
$
0.108810
$
0.478976
$
0.163546
$
0.869993
$
2.264164
2033
$
0.140476
$
0.104597
$
0,460453
$
0,157215
$
0,836333
$
2.176550
2034
$
0.135038
$
0.100548
$
0.442642
$
0.151128
$
0.803972
$
2.092318
2035
$
0.129810
$
0.096655
$
0.425589
$
0.145278
$
0.772937
$
2.011491
2036
$
0,124784
$
0.092913
$
0.409127
$
0,139654
$
0.743029
$
1.933647
2037
$
0.119954
$
0.089316
$
0.393359
$
0.134247
$
0.714340
$
1.858937
2038
$
0.115311
$
0.085860
$
0.378358
$
0,129052
$
0.686934
$
1.787455
2039
$
0.110843
$
0.082533
$
0.363857
$
0.124053
$
0.660490
$
1.718532
2040
$
0,106548
$
0.079335
$
0.349820
$
0,119246
$
0.634963
$
1.652068
2041
$
0.102420
$
0.076261
$
0.336417
$
0.114627
$
0.610525
$
1.588374
2042
$
0,098452
$
0.073306
$
0.323437
$
0.110185
$
0.586928
$
1.526943
2043
$
0.094637
$
0.070466
$
0.310957
$
0.105916
$
0.564242
$
1.467886
2044
$
0,090970
$
0.067735
$
0.298959
$
0.101812
$
0.542433
$
1.411113
2045
$
0.087445
$
0.065111
$
0.287423
$
0.097867
$
0.521467
$
1.356535
2046
$
0,084056
$
0.062588
$
0.276332
$
0.094075
$
0.501311
$
1.304068
2047
$
0.080799
$
0.060163
$
0.265669
$
0.090430
$
0.481933
$
1.253629
2048
$
0.077668
$
0.057831
$
0.255417
$
0.086926
$
0.463305
$
1.205140
2049
$
0.074656
$
0.055588
$
0.245551
$
0.083555
$
0.445379
$
1.158482
Source: Tiberius Solutions
Forecast Future Assessed Value in TIA
Future growth in assessed value in the proposed TIA would come from new construction and the
appreciation of existing property. This report assumes 5.1% annual growth assessed value for
existing property value, based on long-term trends in personal income for King County as
described above.
As stated previously, much of the new construction forecast to occur in the proposed TIA is
predicated on City providing adequate infrastructure, including some of the projects identified in
this report. The expected increases in assessed value from new construction anticipated to occur
in the proposed TIA over its lifetime were shown previously in Exhibit 5.
Exhibit 10 summarizes all of the anticipated increases in assessed value from new construction,
including known development and speculative development. This exhibit includes the value of
Rev. 7/18
new development in both constant 2023 dollars and nominal dollars, which account for
appreciation of property values between now and when the projects complete construction.4
Assuming annual appreciation of 5.1% as described above, the total increase in assessed value
from new construction in estimated to be $1.6 billion constant 2023 dollars, and $3.7 billion in
nominal dollars.
Exhibit 10. Assessed Value from New Construction, Proposed Federal Way TIA
Year
Taxable Assesed Value (2023 $)
Taxable Assesed Value (Nominal $)
on Tax
OneTrent
Speculative
OneTrent
Speculative
Roll
Development
Development
Total
Development
Development
Total
2028
$
-
$ 14,583,047
$
14,583,047
$
-
$
17,793,408
$
17,793,408
2029
$
7,514,479
$ 14,583,047
$
22,097,526
$
9,636,348
$
18,700,871
$
28,337,220
2030
$
2,979,645
$ 14,583,047
$
17,562,692
$
4,015,881
$
19,654,616
$
23,670,497
2031
$
-
$ 14,583,047
$
14,583,047
$
-
$
20,657,001
$
20,657,001
2032
$
2,885,949
$ 14,583,047
$
17,468,995
$
4,296,456
$
21,710,508
$
26,006,964
2033
$
-
$ 14,583,047
$
14,583,047
$
-
$
22,817,744
$
22,817,744
2034
$
63,355,171
$ 14,583,047
$
77,938,218
$
104,185,967
$
23,981,449
$
128,167,416
2035
$
-
$ 14,583,047
$
14,583,047
$
-
$
25,204,503
$
25,204,503
2036
$
-
$ 72,915,233
$
72,915,233
$
-
$
132,449,664
$
132,449,664
2037
$
172,312,858
$ 72,915,233
$
245,228,091
$
328,967,499
$
139,204,597
$
468,172,096
2038
$
107,920,895
$ 72,915,233
$
180,836,128
$
216,542,707
$
146,304,031
$
362,846,738
2039
$
-
$ 72,915,233
$
72,915,233
$
-
$
153,765,537
$
153,765,537
2040
$
115,507,471
$ 72,915,233
$
188,422,704
$
256,007,998
$
161,607,579
$
417,615,577
2041
$
-
$ 72,915,233
$
72,915,233
$
-
$
169,849,566
$
169,849,566
2042
$
$ 72,915,233
$
72,915,233
$
$
178,511,894
$
178,511,894
2043
$
$ 72,915,233
$
72,915,233
$
$
187,616,000
$
187,616,000
2044
$
$ 72,915,233
$
72,915,233
$
$
197,184,416
$
197,184,416
2045
$
$ 72,915,233
$
72,915,233
$
$
207,240,822
$
207,240,822
2046
$
$ 72,915,233
$
72,915,233
$
$
217,810,103
$
217,810,103
2047
$
$ 72,915,233
$
72,915,233
$
$
228,918,419
$
228,918,419
2048
$
$ 72,915,233
$
72,915,233
$
$
240,593,258
$
240,593,258
2049
$
$ 72,915,233
$
72,915,233
$
$
252,863,514
$
252,863,514
Total
$
472,476,468
$ 1,137,477,637
$
1,609,954,105
$
923,652,856
$
2,784,439,502
$
3,708,092,358
Source: Tiberius Solutions with data and input from the City of Federal Way and Johnson Economics
In addition to increases in assessed value from new construction, all property values in the
proposed TIA are estimated to increase by 5.1 % per year from appreciation. Exhibit 11
summarizes the forecast total growth in assessed value in the TIA from new construction and
appreciation.
4 Note that no additional inflation is assumed between the date the construction is completed and the date the increased
value appears on the tax roll based on conversations with county assessors in Washington.
Rev. 7/18
Exhibit 11. Assessed Value Forecast, Proposed Federal Way TIA (Nominal $)
Tax
Year
Prior Year
PLUS:
Appreciation of
Existing Property
PLUS:
New
Construction
Total
2024
$
196,019,600
2025
$
196,019,600
$
9,997,000
$
$
206,016,600
2026
$
206, 016, 600
$
10, 506, 847
$
$
216, 523,447
2027
$
216, 523, 447
$
11, 042, 696
$
$
227, 566,143
2028
$
227,566,143
$
11,605,873
$
17,793,408
$
256,965,424
2029
$
256,965,424
$
13,105,237
$
28,337,220
$
298,407,881
2030
$
298,407,881
$
15,218,802
$
23,670,497
$
337,297,180
2031
$
337,297,180
$
17, 202,156
$
20, 657, 001
$
375,156,337
2032
$
375,156,337
$
19,132,973
$
26,006,964
$
420,296,274
2033
$
420,296,274
$
21,435,110
$
22,817,744
$
464,549,128
2034
$
464, 549,128
$
23, 692, 006
$
128,167,416
$
616,408,550
2035
$
616,408,550
$
31,436,836
$
25,204,503
$
673,049,889
2036
$
673,049,889
$
34,325,544
$
132,449,664
$
839,825,097
2037
$
839, 825, 097
$
42, 831, 080
$
468,172, 096
$
1,350, 828,273
2038
$
1,350,828,273
$
68,892,242
$
362,846,738
$
1,782,567,253
2039
$
1,782,567,253
$
90,910,930
$
153,765,537
$
2,027,243,720
2040
$
2,027,243,720
$
103,389,430
$
417,615,577
$
2,548,248,727
2041
$
2,548,248,727
$
129,960,685
$
169,849,566
$
2,848,058,978
2042
$
2,848,058,978
$
145,251,008
$
178,511,894
$
3,171,821,880
2043
$
3,171,821,880
$
161,762,916
$
187,616,000
$
3,521,200,796
2044
$
3,521,200,796
$
179, 581, 241
$
197,184,416
$
3,897,966,453
2045
$
3,897,966,453
$
198,796,289
$
207,240,822
$
4,304,003,564
2046
$
4,304,003,564
$
219,504,182
$
217,810,103
$
4,741,317,849
2047
$
4,741,317,849
$
241,807,210
$
228,918,419
$
5,212,043,478
2048
$
5,212,043,478
$
265,814,217
$
240,593,258
$
5,718,450,953
2049
$
5,718,450,953
$
291,640,999
$
252,863,514
$
6,262,955,466
Note: Dollar values in this summary exhibit may differ than other exhibits in the report due to rounding
Source: Tiberius Solutions
Forecast of Tax Allocation Revenues
Exhibit 12 shows the forecast of annual tax allocation revenues, combining the forecasts of
future assessed value in the proposed TIA and applicable tax rates. Annual tax allocation
revenues are expected to be $32,894 in 2025, increasing to over $7.0 million in its final year in
2049. Total tax allocation revenue over 25 years is expected to equal $67.9 million.
Rcv. 7/18
Exhibit 12. Tax Allocation Revenues, Proposed Federal Way TIA (Nominal $)
Tax
Assessed Value
Tax Allocation
Year
Total
Base Value
Increment
Levy Rate
Revenues
2023
$ 195,802,900
$ 3.730590
$
-
2024
$ 196, 019, 600
$196, 019, 600
$ 3.487226
$
2025
$ 206, 016, 600
$196, 019, 600
$ 9,997,000
$ 3.290355
$
32,894
2026
$ 216,523,447
$196,019,600
$ 20,503,847
$ 3.012149
$
61,761
2027
$ 227, 566,143
$196, 019, 600
$ 31, 546, 543
$ 2.895642
$
91,347
2028
$ 256, 965,424
$ 196,019,600
$ 60, 945, 824
$ 2.651037
$
161,570
2029
$ 298,407,881
$196,019,600
$ 102,388,281
$ 2.548541
$
260,941
2030
$ 337, 297,180
$196, 019, 600
$ 141, 277, 580
$ 2.450030
$
346,134
2031
$ 375,156,337
$196,019,600
$ 179,136,737
$ 2.355313
$
421,923
2032
$ 420,296,274
$196,019,600
$ 224,276,674
$ 2.264164
$
507,799
2033
$ 464,549,128
$196,019,600
$ 268,529,S28
$ 2.176550
$
S84,468
2034
$ 616,408,549
$196,019,600
$ 420,388,949
$ 2.092318
$
879,587
2035
$ 673, 049, 888
$ 196,019,600
$ 477, 030, 288
$ 2.011491
$
959,542
2036
$ 839,825,096
$196,019,600
$ 643,805,496
$ 1,933647
$
1,244,893
2037
$ 1, 350, 828,272
$ 196,019,600
$ 1,154, 808, 672
$ 1.858937
$
2,146,716
2038
$ 1, 782, 567,251
$ 196,019,600
$ 1, 586, 547, 651
$ 1.787455
$
2,835,883
2039
$ 2, 027, 243,718
$ 196,019,600
$ 1,831, 224,118
$ 1.718532
$
3,147, 017
2040
$ 2, 548, 248,724
$ 196,019,600
$ 2,352, 229,124
$ 1.652068
$
3,886,043
2041
$ 2,848,058,975
$196,019,600
$ 2,652,039,375
$ 1.588374
$
4,212,431
2042
$ 3,171, 821,877
$ 196,019,600
$ 2,975, 802, 277
$ 1.526943
$
4,543,880
2043
$ 3, 521, 200,793
$ 196,019,600
$ 3,325,181,193
$ 1.467886
$
4,880,988
2044
$ 3,897,966,449
$196,019,600
$ 3,701,946,849
$ 1.411113
$
5,223,867
2045
$ 4,304,003,560
$196,019,600
$ 4,107,983,960
$ 1.356535
$
5,572,626
2046
$ 4,741,317,844
$196,019,600
$ 4,545,298,244
$ 1.304068
$
5,927,377
2047
$ 5,212,043,474
$196,019,600
$ 5,016,023,874
$ 1.253629
$
6,288,232
2048
$ 5,718,450,949
$196,019,600
$ 5,522,431,349
$ 1.205140
$
6,655,304
2049
$ 6,262,955,461
$196,019,600
$ 6,066,935,861
$ 1,158482
$
7,028,439
Total
$
67,901,663
Source: Tiberius Solutions
Factors Affecting the Accuracy of the Forecast
The biggest factor affecting the accuracy of the tax allocation revenues forecast is the value and
timing of new construction in the proposed TIA. The amount of future tax allocation revenues is,
in part, dependent upon new construction. If that construction occurs on a different schedule, or
with different values than has been assumed, it could impact the accuracy of the forecast.
In addition to the timing and value of new construction, actual tax allocation revenues for the
proposed TIA would depend upon the actual appreciation/depreciation in assessed value in the
area as well as the actual levy rates imposed. There is significant uncertainty with these factors
over the next 25 years. However, these factors are related in ways that help to provide some
confidence for this forecast. Changes in property values in the proposed TIA from
appreciation/depreciation are likely to follow a similar pattern to changes in property values from
Rev. 7/18
appreciation/depreciation countywide. And, those countywide changes in
appreciation/depreciation would determine annual changes in the levy rates imposed.
If property values increase faster than forecasted, it would result in lower levy rates and a similar
forecast of annual tax allocation revenues. Similarly, if property values increase slower than
forecasted (or decrease), it would result in higher levy rates and a similar forecast of annual tax
allocation revenues.
The accuracy of the tax allocation revenues forecast is more impacted by the relative growth in
assessed value within the proposed TIA versus countywide. In theory, rates of
appreciation/depreciation in these two geographies should be similar over time. However, if they
do differ, it has the potential to significantly impact the tax allocation revenues forecast. If
properties within the proposed TIA appreciate faster than the county as a whole, it would lead to
more tax allocation revenues than what is forecasted. Conversely, if properties within the
proposed TIA appreciate slower than the county as a whole, it would lead to less tax allocation
revenues than what is forecasted.
Impact on Overlapping Tax Levies
Tax allocation revenues are generated through the reallocation of tax levies. In other words, the
financial impact of the proposed TIA is primarily borne by the affected, overlapping taxing
districts. These impacts occur as "foregone" tax revenues. Thus, these jurisdictions are not losing
revenue relative to what they collect today, but instead these districts would temporarily forego
the future increase in revenue generated within the proposed TIA. Once the proposed TIA ceases
to collect tax allocation revenues (limited to no more than 25 years), then these impacted
jurisdictions would begin to receive the full amount of annual taxes from the new construction
that has occurred within the proposed TIA.
RCW 84.55.010 allows taxing districts to increase the amount of their levy to account for growth
in assessed value inside a TIA. This would result in slightly higher overall levy amounts and tax
rates for impacted taxing districts. Thus, the net impact the TIA would have on taxing district
levies is less than the total amount of tax allocation revenues received.
Exhibit 13 summarizes the annual tax revenues forecast to be foregone by the affected taxing
districts. All jurisdictions are collectively expected to forego $64,087,724 in tax revenue over the
life of the proposed TIA. While this is a significant amount of foregone tax revenues, it is not
expected that much of this private development could or would occur within this area without the
public investments proposed to be funded by the proposed TIA. Thus, a portion of these foregone
revenues likely would not exist but for the investments made by the proposed TIA. Following the
expiration of the proposed TIA, these revenues would be redirected to the overlapping taxing
districts.
Rev. 7/18
Exhibit 13. Impact on Overlapping Tax Levies, Proposed Federal Way TIA (Nominal $)
(1 of 3)
Tax
Year
County -Wide
Regular Levy
(Non -Voted)
AFIS
(Fingerprint
II?) Lid Lift
Parks Lid Lift
Human
Srvs/Vets Lid
Lift
Children/
Family Justice
Ctr. Lid Lift
Best Start for
Kids Lid Lift
2023
$
$
$
$
$
$
2024
$
$
$
$
$
$
2025
$ 178
$
$ 63
$
$
$ 60
2026
$ (4,042)
$
$
$
$
$ (1,360)
2027
$ (8,140)
$
$
$
$
$ (2,739)
2028
$ (19,135)
$
$
$
$
$
2029
$ (33,456)
$
$
$
$
$
2030
$ (45,470)
$
$
$
$
$
2031
$ (56,181)
$
$
$
$
$
2032
$ (68,458)
$
$
$
$
$
2033
$ (79,279)
$
$
$
$
$
2034
$ (122,635)
$
$
$
$
$
2035
$ (132,327)
$
$
$
$
$
2036
$ (174,168)
$
$
$
$
$
2037
$ (306,054)
$
$
$
$
$
2038
$ (401, 541)
$
$
$
$
$
2039
$ (442,426)
$
$
$
$
$
2040
$ (549,740)
$
$
$
$
$
2041
$ (592,400)
$
$
$
$
$
2042
$ (638,959)
$
$
$
$
$
2043
$ (686,286)
$
$
$
$
$
2044
$ (734,395)
$
$
$
$
$
2045
$ (783,300)
$
$
$
$
$
2046
$ (833,018)
$
$
$
$
$
2047
$ (883,563)
$
$
$
$
$
2048
$ (934,950)
$
$
$
$
$
2049
$ (987,208)
$
$
$
$
$
Total
$ (9,516,953)
$ -
$ 63
$ -
$ -
$ (4,038)
Source: Tiberius Solutions
Rev. 7/18
Exhibit 14. Impact on Overlapping Tax Levies, Proposed Federal Way TIA (Nominal $)
(2 of 3)
Tax
Year
Radio
Communicat-
ions Lid Lift
County -wide
Transport
Leery
County Cons.
Futures
County Flood
Zone
County Ferry
District
Port General
Fund
2023
$
$
$
$
$
$
2024
$
$
$
$
$
$
-
2025
$
$ 14
$
23
$
25
$
3
$
20
2026
$
$ (312)
$
(523)
$
(564)
$
(65)
$
(459)
2027
$
$ (629)
(1,053)
$
(1,135)
$
(131)
$
(924)
2028
$
$ (1,477)
$
(2,474)
$
(2,668)
$
(309)
$
(2,173)
2029
$
$ (2,583)
$
(4,326)
$
(4,664)
$
(540)
$
(3,800)
2030
$
$ (3,511)
$
(5,879)
$
(6,339)
$
(734)
$
(5,164)
2031
$
$ (4,338)
$
(7,264)
$
(7,832)
$
(907)
$
(6,380)
2032
$
$ (5,286)
$
(8,852)
$
(9,544)
$
(1,105)
$
(7,775)
2033
$
$ (6,121)
$
(10,251)
$
(11,053)
$
(1,280)
$
(9,003)
2034
$
$ (9,469)
$
(15,857)
$
(17,097)
$
(1,980)
$
(13,927)
2035
$
$ (10,217)
$
(17,110)
$
(18,448)
$
(2,137)
$
(15,028)
2036
$
$ (13,448)
$
(22,520)
$
(24,281)
$
(2,812)
$
(19,780)
2037
$
$ (23,631)
$
(39,574)
$
(42,668)
$
(4,942)
$
(34,757)
2038
$
$ (31,004)
$
(51,920)
$
(55,981)
$
(6,483)
$
(45,602)
2039
$
$ (34,161)
$
(57,207)
$
(61,680)
$
(7,143)
$
(50,245)
2040
$
$ (42,447)
$
(71,083)
$
(76,642)
$
(8,876)
$
(62,432)
2041
$
$ (45,741)
$
(76,599)
$
(82,589)
$
(9,565)
$
(67,277)
2042
$
$ (49,336)
$
(82,619)
$
(89,080)
$
(10,317)
$
(72,564)
2043
$ -
$ (52,990)
$
(88,739)
$
(95,678)
$
(11,081)
$
(77,939)
2044
$
$ (56,705)
$
(94,959)
$
(102,385)
$
(11,858)
$
(83,403)
2045
$
$ (60,481)
$
(101,283)
$
(109,203)
$
(12,647)
$
(88,957)
2046
$
$ (64,320)
$
(107,712)
$
(116,135)
$
(13,450)
$
(94,603)
2047
$
$ (68,222)
$
(114,247)
$
(123,182)
$
(14,266)
$
(100,343)
2048
$
$ (72,190)
$
(120,892)
$
(130,346)
$
(15,096)
$
(106,179)
2049
$
$ (76,225)
$
(127,649)
$
(137,631)
$
(15,940)
$
(112,114)
Total
$ -
$ (734,829)
$
(1,230,570)
$
(1,326,801)
$
(153,661)
$
(1,080,806)
Source: Tiberius Solutions
Rev. 7/18
Exhibit 15. Impact on Overlapping Tax Levies, Proposed Federal Way TIA (Nominal $)
(3 of 3)
Tax City General Library Fire 39
Year EMS (Voted) Sound Transit Fund General Fund General Fund I Total
2023 $ $ $ $ $ - $ -
2024 $ $ $ $ $ - $ -
2025 $ 77 $ 58 $ 250 $ 87 $ 457 $ 1,316
2026 $ (1,755) $ (1,307) $ (5,751) $ (1,964) $ (10,446) $ (28,546)
2027 $ (3,534) $ (2,631) $ (11,581) $ (3,955) $ (21,037) $ (57,490)
2028 $ (8,307) $ (6,186) $ (27,224) $ (9,297) $ (49,452) $ (128,702)
2029 $ (14,525) $ (10,815) $ (47,601) $ (16,255) $ (86,465) $ (225,031)
2030 $ (19,741) $ (14,699) $ (64,698) $ (22,093) $ (117,519) $ (305,847)
2031 $ (24,391) $ (18,161) $ (79,942) $ (27,297) $ (145,205) $ (377,898)
2032 $ (29,721) $ (22,130) $ (97,414) $ (33,262) $ (176,939) $ (460,485)
2033 $ (34,418) $ (25,628) $ (112,817) $ (38,520) $ (204,913) $ (533,284)
2034 $ (53,241) $ (39,643) $ (174,520) $ (59,585) $ (316,980) $ (824,933)
2035 $ (57,449) $ (42,776) $ (188,351) $ (64,294) $ (342,074) $ (890,211)
2036 $ (15,614) $ (56,301) $ (247,913) $ (84,623) $ (450,242) $ (1,171,701)
2037 $ (132,871) $ (98,934) $ (435,721) $ (148,704) $ (791,267) $ (2,059,123)
2038 $ (174,326) $ (129,802) $ (572,016) $ (195,100) $ (1,038,520) $ (2,702,295)
2039 $ (192,076) $ (143,018) $ (630,530) $ (214,966) $ (1,144,554) $ (2,978,006)
2040 $ (238,665) $ (177,708) $ (783,595) $ (267,108) $ (1,422,309) $ (3,700,605)
2041 $ (257,186) $ (191,499) $ (844,794) $ (287,838) $ (1,533,105) $ (3,988,592)
2042 $ (217,399) $ (206,549) $ (911,335) $ (310,461) $ (1,653,754) $ (4,302,374)
2043 $ (297,946) $ (221,848) $ (979,004) $ (333,456) $ (1,776,426) $ (4,621,394)
2044 $ (318,832) $ (237,400) $ (1,047,812) $ (356,832) $ (1,901,147) $ (4,945,727)
2045 $ (340,064) $ (253,209) $ (1,117,779) $ (380,596) $ (2,027,955) $ (5,275,474)
2046 $ (361,649) $ (269,281) $ (1,188,927) $ (404,754) $ (2,156,890) $ (5,610,738)
2047 $ (383,592) $ (285,621) $ (1,261,279) $ (429,314) $ (2,287,991) $ (5,951,620)
2048 $ (405,902) $ (302,232) $ (1,334,856) $ (454,283) $ (2,421,298) $ (6,298,224)
2049 $ (428,539) $ (319,125) $ (1,409,700) $ (479,676) $ (2,556,885) $ (6,650,741)
Total $ (4,131,714) $ (3,076,444) $ (13,574,911) $ (4,624,146) $ (24,632,914) $ (64,087,724)
Source: Tiberius Solutions
Not all overlapping taxing districts would be impacted by the proposed TIA. The following
property tax levies would be excluded from the calculation of tax allocation revenues:
■ State Schools (Part 1 and 2)
■ King County Bonds (voted) levy
■ Port Bond Fund levy
■ Federal Way Public Schools (Maintenance & Operations, Construction, and Bond levies)
■ Library GO Bond levy
■ Fire District 39/ South King Fire and Rescue (Maintenance & Operations and GO Bond levies)
All taxing districts listed above, whose rates would be excluded in the calculation of tax
Rcv. 7/18
allocation revenues would not experience any foregone revenues from the proposed TIA. This
includes the Federal Way Public Schools. For these jurisdictions, the proposed TIA would
generate increased property tax revenues once the anticipated private development comes on the
tax roll, or would reduce the property tax rate needed to produce the authorized levy amount.
3.2 Proposed Indebtedness
To finance the public improvements identified in this report, the City anticipates issuing limited
tax general obligation bonds. These bonds would be secured by a pledge of the City's full faith
and credit, including its regular property tax levy, and would be subject to statutory limitations
and constraints on general obligation indebtedness.
City staff have identified two highest -priority projects that would need funding early in the life of
the TIA to facilitate Phase 1 development of the One Trent project: a public parking garage, and
a civic plaza. Combined, these projects are currently estimated to cost $36,000,000. This analysis
assumes One Trent would pay the City $10,000,000 to acquire the Town Center property and a
$4.8 million interfund loan on that property would be extinguished; therefore, the project funds
needed would be $30,800,000. The calculation of estimated funding requirements for the
proposed initial TIA borrowing is shown in Exhibit 16.
Exhibit 16. Estimated Project Funding Requirements for Initial Indebtedness, Proposed Federal
Way TIA (nominal $)
Project
Funding
Requirement
Parking Garage
$ 30,000,000
Civic Plaza
$ 6,000,000
Interfund Loan Repayment
$ 4,800,000
Developer Contribution
$ (10,000,000)
Total
$ 30,800,000
Source: City of Federal Way
The actual terms of indebtedness are uncertain and would be based upon the ultimate timing and
amount of indebtedness the City chooses to incur, tax allocation revenues collected, and financial
market conditions at the time of issuance. For the purposes of this analysis, the City consulted
with their municipal financial advisors, PFM to estimate terms of indebtedness based upon
current market conditions and the proposed timing and amount of future indebtedness. Key terms
of the proposed indebtedness are shown in Exhibit 17. The proposed financing terms are based
on the assumption that the debt would be tax-exempt, including interest rates as of 7/12/2023
plus 50 basis points. Appendix C includes an evaluation of an alternative finance plan with more
conservative assumptions, assuming that the debt is taxable.
Rev. 7/18
Exhibit 17. Estimated Terms of Indebtedness for Proposed Federal Way TIA Public
Improvements (nominal $)
Series 2024
Closing Month December 2024
Taxable Status Exempt
True Interest Cost 4.67%
Aggregate Par (Principal) $ 29,630,000
Project Funds from Bond Proceeds $ 30,800,000
Source: PFM Financial Advisors LLC
The public improvements within the Proposed TIA are anticipated to be funded through limited
tax general obligation bonds, which are constrained by the City's statutory capacity for non -voted
general obligation indebtedness. Exhibit 18 shows the calculated statutory authority for non -
voted general obligation indebtedness for the City in 2023, estimated to be $257,137,929. The
City has $27,983,000 of outstanding non -voted general obligation indebtedness, and a cash
reserve of 363,121 resulting in $229,518,050 of remaining debt capacity. This remaining capacity
is substantially larger than the amount of indebtedness being contemplated by the City for the
proposed TIA.
Exhibit 18. Statutory Authority for Non -Voted General Obligation Indebtedness,
City of Federal Way, 2023
Total Assessed Value $17,142,528,580
Limit: Percent 1.50%
Limit: Amount $ 257,137,929
Add Cash Reserve $ 363,121
Less Outstanding Principal $ (27,983,000)
Remaining Capacity $ 229,518,050
Source: City of Federal Way
Based on the assumed terms of indebtedness shown in Exhibit 17, the City's financial advisors
have estimated annual debt service payments as shown in Exhibit 19. Annual payments are
assumed to be interest only for the first 15 years, with principal payments being amortized over
the final 10 years of the TIA. This structure is intended to better align the projected debt service
payments with tax allocation revenues, given the delayed growth in tax revenues due to the
expectation that new construction in the area will qualify for the eight -year property tax
exemption through the MFTE program. While this approach results in a higher overall cost of
interest to the City, it is the City's preferred approach at this time, due to minimizing the amount
of general fund resources needed to cover debt service.
Rev. 7/18
Exhibit 19. Estimated Debt Service Payments, LTGO Debt for Proposed Federal Way TIA Public
Projects (Nominal $)
Year
Principal
Interest
$
Total
1,481,500
2025 $ - $ 1,481,500
2026
$
-
$
1,481,500
$
1,481,500
2027
$
-
$
1,481,500
$
1,481,500
2028
$
-
$
1,481,500
$
1,481,500
2029
$
-
$
1,481,500
$
1,481,500
2030
$
-
$
1,481,500
$
1,481,500
2031
$
-
$
1,481,500
$
1,481,500
2032
$
-
$
1,481,500
$
1,481,500
2033
$
-
$
1,481,500
$
1,481,500
2034
$
-
$
1,481,500
$
1,481,500
2035
$
-
$
1,481,500
$
1,481,500
2036
$
-
$
1,481,500
$
1,481,500
2037
$
-
$
1,481,500
$
1,481,500
2038
$
-
$
1,481,500
$
1,481,500
2039
$
-
$
1,481,500
$
1,481,500
2040
$
935,000
$
1,481,500
$
2,416,500
2041
$
1,315,000
$
1,434,750
$
2,749,750
2042
$
1,720,000
$
1,369,000
$
3,089,000
2043
$
2,145,000
$
1,283,000
$
3,428,000
2044
$
2,605,000
$
1,175,750
$
3,780,750
2045
$
3,085,000
$
1,045,500
$
4,130,500
2046
$
3,600,000
$
891,250
$
4,491,250
2047
$
4,150,000
$
711,250
$
4,861,250
2048
$
4,730,000
$
503,750
$
5,233,750
2049
$
5,345,000
$
267,250
$ 5,612,250
$ 62,015,500
Total $ 29,630,000 $ 32,385,500
Source: PFM Financial Advisors LLC
Exhibit 20 shows the combination of revenue sources expected to cover the debt service
payments. It is expected that $49,935,821 of tax allocation revenues and $12,079,679 of the
City's regular property tax levy or other available revenues would be required to cover the full
amount of debt service payments. It is anticipated that the City will need to rely on some level of
general fund revenues to pay a portion of the annual debt service payments through 2036. After
2036, tax allocation revenues are estimated to be sufficient to cover future debt service payments
with surplus tax allocation revenues being used to reimburse the City general fund for earlier
debt service payments. Total tax allocation revenues are expected to exceed the total debt service
payments by $5,886,163, which represents the anticipated amount of tax allocation revenue that
could potentially be used to fund additional projects within the TIA.
Rev. 7/18
Exhibit 20. Tax Allocation Revenues and Debt Service Payments (Nominal $)
Revenue Source
Tax Allocation
Tax
General
Revenue Debt
Allocation
Fund
Service
Year
Payment
Revenue
Resources
Coverage
2025
$
1,481,500
$
32,894
$
1,448,606
0.02
2026
$
1,481,500
$
61,761
$
1,419,739
0.04
2027
$
1,481,500
$
91,347
$
1,390,153
0.06
2028
$
1,481,500
$
161,570
$
1,319,930
0.11
2029
$
1,481,500
$
260,941
$
1,220,559
0.18
2030
$
1,481,500
$
346,134
$
1,135,366
0.23
2031
$
1,481,500
$
421,923
$
1,059,577
0.28
2032
$
1,481,500
$
507,799
$
973,701
0.34
2033
$
1,481,500
$
584,468
$
897,032
0.39
2034
$
1,481,500
$
879,587
$
601,913
0.59
2035
$
1,481,500
$
959,542
$
521,958
0.65
2036
$
1,481,500
$
1,244,893
$
236,607
0.84
2037
$
1,481,500
$
2,146,716
$
-
1.45
2038
$
1,481,500
$
2,835,883
$
-
1.91
2039
$
1,481,500
$
3,147,017
$
-
2.12
2040
$
2,416,500
$
3,886,043
$
-
1.61
2041
$
2,749,750
$
4,212,431
$
-
1.53
2042
$
3,089,000
$
4,543,880
$
-
1.47
2043
$
3,428,000
$
4,880,988
$
-
1.42
2044
$
3,780,750
$
5,223,867
$
-
1.38
2045
$
4,130,500
$
5,572,626
$
-
1.35
2046
$
4,491,250
$
5,927,377
$
-
1.32
2047
$
4,861,250
$
6,288,232
$
-
1.29
2048
$
5,233,750
$
6,655,304
$
-
1.27
2049
$
5,612,250
$
7,028,439
$
-
1.25
Total
$ 62,015,500
$ 67,901,663
$12,225,141
1.09
Source: PFM Financial Advisors LLC and Tiberius Solutions
4 Economic Impacts
4.1 Job Creation
The proposed TIA would be expected to generate substantial economic impacts for the local and
regional economy. The infrastructure investments supported by the proposed TIA would support
a significant level of development, with substantial employment from construction as well as
Rcv. 7/18
ongoing business activity. Impacts during the construction phase would be temporary, while the
impacts from operations once construction is complete would be ongoing.
These impacts include direct impacts (jobs and spending occurring directly in the TIA), as well
indirect and induced impacts. Indirect impacts are secondary impacts generated by the portion of
direct expenditures that are spent on goods and services provided by local businesses. Induced
impacts are secondary impacts generated by local expenditures made by employees who received
personal income from the direct and indirect expenditures. The induced impacts are often
referred to as the "multiplier effect" as the initial direct expenditures are re -spent multiple times,
rippling through the local economy.
To model the economic impacts of various activities, Johnson Economics utilized the IMPLAN
(IMPact for PLANning)5 economic multiplier model. IMPLAN is an economic impact model
designed for analyzing the effects of industry activity (employment, income, or business
revenues) upon all other industries in an economic area.
Development activity in the area is expected to exceed $1.1 billion in current dollars over the
next 25 years.6 Of that, over $472 million is proposed as part of the One Trent Development
agreement. This development is expected to be introduced to the tax rolls in phases through
2040.
Exhibit 21. Summary of Predicted Construction Investment by Year, Proposed Federal Way TIA
(2023 $)
Construction Investment by Year
(Millions)
$1,200
$1,000
$800
$600
$400
$200
$o -- I I m I - I ---
v m uo r` cc a, o N m�i- Ln M
N N N N N N m m m m m m
0 0 0 0 0 0 0 0 0 0 0 0
N N N (N N N N N N N
m
0
N
Source: Johnson Economics
Cumulative Investment (Millions)
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$zoo
$0
� Ln kO r- 00G% o N m �n o
N N N N N N m m m m
CD CD CD CD O O CD CDC) O C) O O O
N N N N N N N N N N N N m
a
N
5 Minnesota IMPLAN Group (MIG), Stillwater, Minnesota
6 Analysis completed in 2023. In March 2024, one parcel with was removed from the proposed TIA boundary, but is still
included in this analysis. The parcel had an assumed speculative construction investment of $25.3 million.
Rev. 7/18
To evaluate the temporary construction impacts of the proposed development programs, we
calculated the total anticipated construction spending of the project measured as a direct industry
change in construction of new nonresidential and residential commercial structures. Estimated
construction expenditures were converted into estimated contributions to employment income
and output within the "South King County" study area, including the communities of Federal
Way, SeaTac, Burien, Tukwilla, Des Moines, Renton, Kent, and Auburn (Exhibit 22). Key
findings include:
■ Construction spending would translate into an estimated 2,474 direct full time equivalent
(FTE) jobs over the construction period. Direct jobs would pay an estimated average of
roughly $89,749 per FTE for wages and benefits.
■ Because the development period is estimated to extend over multiple years, the direct
construction jobs projected likely represent some of the same employees, employed
throughout the project lifecycle over multiple buildings/phases.
■ Each direct construction job would support approximately 0.7 indirect and induced jobs
during the construction period. This translates into roughly 1,727 FTE jobs and labor income
of $129.2 million during the construction period.
■ The total estimated economic impacts (direct, indirect, and induced) from the construction
phase are roughly 4,201 FTE positions and $351.5 million in labor income (2023 dollars). The
average annual impact over the 25-year period would be 168 FTE positions and $14.1 million
in labor income.
Exhibit 22. Summary of Projected Impacts During Construction Phase, Proposed Federal Way
TIA (2023 $)
Projected Impacts, South King County (2023 $)
Employment Labor Income Value Added Output
Construction
Direct Effect
2,474
$ 222,049,076
$ 227,051,649
$
577,857,372
Indirect Effect
869
$ 70,356,124
$ 109,309,026
$
187,777,651
Induced Effect
858
$ 58,884,248
$ 109,902,280
$
178,660,834
Total Effect
4,201
$ 351,289,448
$ 446,262,955
$
944,295,857
Source: Johnson Economics, based on assumed future development forecasts
The preceding table also summarizes projected impacts on value added and output. The
following is a brief description of what these terms represent:
■ Output is the value of an industry's production. It can be measured in two ways: from the
sales (income) perspective or the expenditures (spending) perspective. From the income
perspective, output is the sum of sales to final users in the economy (gross domestic product
or "GDP"), sales to other industrial (intermediate inputs), and inventory change. From the
spending perspective, output is the sum of an industry's "value added" and intermediate
inputs.
Value added is defined as the total market value of all final goods and services produced
within a region in a given period of time. It is the sum of all added value at every stage of
production of all final goods and services produced within a country in a given period of time.
Rev. 7/18
In other words, it is the wealth created by industry activity. Value added in a social accounting
matrix model such as IMPLAN is equal to GDP.
Following development, the completed structures would be expected to provide for ongoing
impacts to the local and regional economy. Employees at the office and retail spaces would be
expected to generate income that would circulate in the local economy, supporting additional
employment and tax revenues.
At full buildout the TIA is expected to contain a mix of residential units and commercial space,
with an overall direct investment approaching $1.7 billion in construction.
■ On an ongoing basis, the study area is expected to accommodate direct employment of 632,
of which 299 will reside in the South King County study area. The direct labor income is
projected at $13.8 million and $40.6 million in economic output.
■ The associated ancillary indirect and induced impacts are estimated to account for 88jobs
and $6.8 million in labor income.
■ The total annual impact is estimated at 387 full-time equivalent positions with annual labor
income in 2023 dollars over $20.3 million.
Exhibit 23. Summary of Projected Ongoing Impacts from Operations, Proposed Federal Way
TIA (2023 $)
Projected Annual Impacts, South King County (2023 $)
Employment
Labor Income
Value Added
Output
Ongoing - Annual
Direct Effect
299
$
13,790,960
$ 28,404,985
$
40,584,414
Indirect Effect
38
$
3,027,797
$ 5,357,769
$
8,628,203
Induced Effect
50
$
3,444,770
$ 6,432,982
$
10,460,218
Total Effect
387
$
20,263,528
$ 40,195,735
$
59,672,835
Source: Johnson Economics, based on assumed future development forecasts
The overall impacts have been additionally broken out for the project planned by One Trent, as
well as assumed speculative projects. While the TIA is expected to realize the level of
development summarized previously, this known development has a higher level of certainty. As
summarized in Exhibit 24, known projects and infrastructure investments are expected to support
1,290 full time equivalent positions and $107.9 million in labor income during construction, with
ongoing annual employment of 119 with associated labor income of $6.2 million.
Rev. 7/18
Exhibit 24. Summary of Impacts, Known Projects and Infrastructure, Federal Way TIA (2023 $)
Projected Impacts, South King County (2023 $)
Employment Labor Income Value Added Output
Construction - Known Projects
Direct Effect
760
$
68,186,156
$
69,722,331
$
177,446,688
1 n d i rect Effect
267
$
21, 604, 745
$
33, 566,284
$
57, 662,191
Induced Effect
263
$
18,081,996
$
33,748,459
$
54,862,627
Total Effect
1,290
$
107,872,898
$
137,037,074
$
289,971,506
Projected Annual Impacts, South King County (2023 $)
Employment Labor Income Value Added Output
Ongoing - Annual - Known Projects
Direct Effect 92 $ 4,234,886 $ 8,722,517 $ 12,462,539
Indirect Effect 12 $ 929,767 $ 1,645,247 $ 2,649,522
Induced Effect 15 $ 1,057,810 $ 1,975,421 $ 3,212,092
Total Effect 119 $ 6,222,463 $ 12,343,184 $ 18,324,153
Source: Johnson Economics, based on assumed future development forecasts
Construction and operation of the multiple development programs in the study area will support a
sizable number of jobs directly, as well as having significant indirect and induced impacts. The
construction and ongoing operation of developments in the area is estimated to support roughly
7,326 full time equivalent positions through 2049, reflecting average annual support of
approximately 277.6 jobs, with roughly $17.7 million per year in labor income in 2023 dollars.
These figures are lower than the impacts after full build -out, as the impacts in earlier years are
lower than in later years, due to the phasing of new construction and employment in the area.
Exhibit 25. Summary of Average Annual Impacts Through 2049, Federal Way TIA (2023 $)
Employment Payroll
Direct Effect 200.4 $ 11,728,951
Indirect Effect 35.5 $ 2,961,833
Induced Effect 41.6 $ 2,990,928
Tota 1 277.6 $ 17,681,713
Source: Johnson Economics, based on assumed future development forecasts
4.2 Fiscallmpacts
In addition to economic impacts, development, and operation of the various development parcels
in the proposed TIA would have fiscal implications for the City of Federal Way, King County,
other local service providers, and the State of Washington. These impacts include sales tax,
property taxes, income and business taxes, and development charges and fees.
Sales taxes will represent the most significant fiscal contribution, during both the construction
and ongoing phases. The next largest source of local and state tax revenue would be property
taxes, while the federal government is expected to realize a substantive level in income taxes.
Exhibit 26 and Exhibit 27 present an estimate of tax contributions, such as income and business
Rev. 7/18
taxes, from the construction and operations based on the modeling assumptions in the IMPLAN
scenarios. Estimates are broken down by federal vs. state and local contributions. These fiscal
impacts exclude direct property taxes, as property tax revenue from the planned development
within the TIA is calculated and reported separately in this report. While direct property taxes are
excluded from the tables below, the analysis does include some property taxes from indirect and
induced activity that occurs outside of the proposed TIA. Key findings include:
■ Through the construction period, the project is expected to contribute $164.9 million at the
federal level, and $56.4 million in state and local tax revenues (excluding property taxes).
■ When completed and operational, the combined program is expected to generate $3.4 million
per year in state and local taxes (excluding property taxes), while generating $9.6 million in
federal taxes.
■ Sales taxes represent the largest source of state and local revenue, with close to $38.0 million
in sales taxes during construction and an additional $4.7 million per year going forward.
Exhibit 26. Summary of Anticipated One -Time Tax Revenues Associated with Construction
(2023 $)
Employee & Tax on
Proprietor Production
Description Compensation and Imports Households Corporations Total
Federal
Social Ins Tax- Employee Contribution $ 6,274,986 $ 6,274,986
Social Ins Tax- Employer Contribution $ 56,101,535 $ 56,101,535
Tax on Production and Imports: Excise Taxes $ 3,991,096 $ 3,991,096
Tax on Production and Imports: Custom Duty $ 1,858,692 $ 1,958,692
Tax on Production and Imports: Fed NonTaxes $ 3,068,112 $ 3,068,112
Corporate Profits Tax $ 9,944,982 $ 9,944,982
Personal Tax: Income Tax $ 83,641,230 $ 83,641,230
Total Federal Tax $ 62,376,521 $ 8,917,900 $83,641,230 $ 9,944,982 $164,880,633
State and Local
Dividends
$
3,835,602
$
3,835,602
Social Ins Tax- Employee Contribution $
87,432
$
87,432
Social Ins Tax- Employer Contribution $
376,159
$
376,159
Tax on Production and Imports: Sales Tax
$ 37,993,947
$
37,993,947
Tax on Production and Imports: Motor Vehicle Lic
$ 440,052
$
440,052
Tax on Production and Imports: Severance Tax
$ 290,022
$
290,022
Tax on Production and Imports: Other Taxes
$ 5,677,459
$
5,677,459
Tax on Production and Imports: S/L NonTaxes
$ 2,773,385
$
2,773,385
Corporate Profits Tax
$
-
Personal Tax: Income Tax
$
-
Personal Tax: NonTaxes (Fines- Fees
$ 3,504,953
$
3,504,953
Personal Tax: Motor Vehicle License
$ 1,002,088
$
1,002,098
Personal Tax: Other Tax (Fish/Hunt)
$ 414,560
$
414,560
Total State and Local $
463,591 $47,174,866
$ 4,921,602 $
3,835,602
$
56,395,660
Note: Excludes Property Taxes
Source: Johnson Economics, Minnesota IMPlan Group, based on assumed future development forecasts
Rev. 7/18
Exhibit 27. Summary of Anticipated Ongoing Tax Revenues, Excluding Property Taxes (2023 $)
Employee & Tax on
Proprietor Production
Description compensation and Imoorts Households Corporations Total
Federal
Social Ins Tax- Employee Contribution $ 1,871,461 $ 1,871,461
Social Ins Tax- Employer Contribution $ 1,892,615 $ 1,892,615
Tax on Production and Imports: Excise Taxes $ 498,134 $ 498,134
Tax on Production and Imports: Custom Duty $ 231,988 $ 231,988
Tax on Production and Imports: Fed NonTaxes $ -
Corporate Profits Tax $ 1,589,447 $ 1,589,447
Personal Tax: Income Tax $ 3,551,354 $ 3,551,354
Total Federal Tax $ 3,764,075 $ 730,121 $ 3,551,354 $ 1,589,447 $ 9,634,998
State and Local
Dividends
$
613,020
$
613,020
Social Ins Tax- Employee Contribution $
2,948
$
2,948
Social Ins Tax- Employer Contribution $
12,694
$
12,694
Tax on Production and Imports: Sales Tax
$
4,742,090
$
4,742,090
Tax on Production and Imports: Motor Vehicle Lic
$
54,927
$
54,927
Tax on Production and Imports: Severance Tax
$
7,455
$
7,455
Tax on Production and Imports: Other Taxes
$
708,611
$
708,611
Tax on Production and Imports: S/L NonTaxes
$
346,151
$
346,151
Corporate Profits Tax
$
Personal Tax: Income Tax
$
-
Personal Tax: NonTaxes (Fines- Fees
$ 114,120
$
114,120
Personal Tax: Motor Vehicle License
$ 35,734
$
35,734
Personal Tax: Other Tax (Fish/Hunt)
$ 17,605
$
17,605
Total State and Local $
15,642 $
5,859,233
$ 167,459 $
613,020
$
6,655,354
Note: Excludes Property Taxes
Source: Johnson Economics, Minnesota IMPlan Group, based on assumed future development forecasts
4.3 Affordable and Low -Income Housing
The TIA is not anticipated to have a substantial negative impact on affordable and low-income
housing in the region and is more likely to increase affordability through the expansion of
residential opportunities. The TIA may have minor impacts on housing affordability due to
indirect impacts on housing affordability associated with economic activity generated within the
TIA.
Housing Construction in the TIA
There are a number of existing affordable housing complexes within and around the TIA
(Traditions, Senior City, Uptown Square).
Income restricted affordable housing units are required to make up 4% of the total units within
any new housing project with 25 units or more. The City of Federal Way's development
regulations requiring mixed -income housing projects through the affordable housing regulations
ensure long-term production of income restricted units.
The Sound Transit surplus property within the TIA is subject to the Washington State Statute
RCW 81.112.350 to offer 80 percent of its surplus property that is suitable for housing to
qualified entities to develop housing affordable to families at 80 percent of area median income
Rev. 7/18
or less.
New construction within the TIA is expected to primarily consist of residential developments, as
well as some commercial development. Our land use modeling indicates that residential uses
currently represent the highest and best use for most parcels in the TIA, and the office market is
expected to remain challenging for the next decade. As a result, most of the projected
development activity is expected to be primarily residential with some ground floor commercial
uses, as well as redevelopment and/or reconfiguration of retail space.
While the new projects are expected to provide largely market rate units with relatively high rent
levels, the market -rate construction within the TIA can still help to improve housing affordability
in the region. Housing prices are determined based on the factors of supply and demand. Thus,
any new construction of housing units in the region that increases housing supply should reduce
price pressure in the local housing market. Indeed, most housing economists identify a persistent
lack of new construction in past years for the rapid increases in home values in recent years.
The process by which construction of new market -rate homes helps to improve housing
affordability is known as "filtering." Construction of a new market -rate home allows a household
to move out of a lower -quality, existing home to purchase the new home. The previous home
occupied by that household is now vacant, and available to another household at a lower price
than the new home. Thus, constructing new homes at virtually any price point should ultimately
improve the availability of homes at all income levels.
Impacts on Housing Affordability from Economic Activity
Evaluations of housing affordability often focus on the cost of housing, but affordability is
defined as the ability of someone to pay for a good or service. Thus, this evaluation of housing
affordability also considers household incomes. Increases in household income will increase the
ability of households to pay for housing, thus increasing housing affordability. The economic
impacts generated by the new development anticipated within the TIA are expected to support
marginal increases in local household incomes, helping to support regional housing affordability.
The City of Federal Way is a relatively well-balanced community in terms of jobs and housing,
although the workforce commuting outside of the City for employment exceeds those commuting
in by almost 12,000. An estimated 26,490 workers were estimated to commute into the City for
employment in 2020, while 38,201 commuted to jobs outside of the community. These
commuting patterns are shown in Exhibit 28.
Rev. 7/18
Exhibit 28. Estimated Workers Commuting Into and Out of the City of Federal Way, 2020
Dash
IONA
Id' fAMAN
m
4
Federal Way
2i6,490 38,201
Cjo
-Y
.,557 18 x
G I�anti Lakeland South
y AW—
Fife Huts. WWO
197
Source: US Census Bureau, LEHD Database
Federal Way residents who commute out of the City of employment are largely employed in
Seattle (21.9%) to the north, as well as Tacoma (7.5%) and Kent (7.4%). Developing additional
residential capacity near the new transit infrastructure should reduce commuting costs for local
residents, which can have a substantive financial impact. Exhibit 29 shows the locations of
employment for Federal Way residents.
Rev. 7/18
Exhibit 29. Location of Employment for Federal Way Residents, 2020 �❑ ° ° ci_
ShaeIine, Q°
' II 522
a.
Ocl
Klrkl�
Brerr�er6o� S
Qq , ° C6 °
,g � hYerceralsla� �3' Samrramish
99
o R o
O 4 °
r� eoo �• a
p ❑ O '° O'
All
P� -K fitF8
�}
° Lopy
° F
-a q 00 -0
T el o d,. d Auburn ° b
imer$dy_Pla�e 7 - °67e.
PeFi�i�rl�� O CJ
° 0 ,o°.
Source: US Census Bureau, LEHD Database
4.4 Local Business Community
City staff and the consultant team provided a virtual briefing to property owners and businesses
within the TIA on August 2, 2023. Information was provided on the Sound Transit project, the
Town Center 3 project, and the proposed TIA. Questions centered around City improvements and
the City's development project. There was no concern voiced about the TIA. The City's
Economic Development Director followed up with the attendees to answer any specific
questions.
4.5 Loca/ 5choo/ District
As stated earlier in this report, the property tax levies for Federal Way Public Schools and the
State Schools fund would not be included in the calculation of tax allocation revenues, and
Rev. 7/18
therefore would not experience any foregone revenues from the TIA. Private development
anticipated to occur as a result of public improvements within the proposed TIA would generate
increased property tax revenues for state school funding reduce the levy rate for local school
levies. Exhibit 30 shows the forecasts of the future property tax revenues that could be generated
for state levies over the 25-year duration of the proposed TIA. Development within the proposed
TIA would be estimated to generate $48.3 million in property tax revenues for State school
funding over the 25-year forecast period.
Exhibit 30. Property Tax Revenues for State Schools, Proposed Federal Way TIA
(Nominal $)
Tax Increment State Schools (Parts 1 and 2)
Year Value Levy Rate Revenue
2023 $ $ 2.311040 $
2024 $ $ 2.209181 $ -
2025 $ 9,997,000 $ 2,123754 $ 21,231
2026 $ 20,503,847 $ 2.041609 $ 41,861
2027 $ 31,546,543 $ 1.962641 $ 61,915
2028 $ 60,945,824 $ 1.886728 $ 114,988
2029 $ 102,388,281 $ 1.813752 $ 185,707
2030 $ 141,277,580 $ 1.743599 $ 246,331
2031 $ 179,136,737 $ 1.676160 $ 300,262
2032 $ 224,276,674 $ 1.611267 $ 361,370
2033 $ 268,529,528 $ 1.548887 $ 415,922
2034 $ 420,388,949 $ 1.488922 $ 625,926
2035 $ 477,030,288 $ 1.431283 $ 682,765
2036 $ 643,805,496 $ 1.375870 $ 885,793
2037 $ 1,154,808,672 $ 1.322607 $ 1,527,358
2038 $ 1,586,547,651 $ 1.271416 $ 2,017,163
2039 $ 1,831,224,1 18 $ 1.222157 $ 2,238,043
2040 $ 2,352,229,124 $ 1.174799 $ 2,763,397
2041 $ 2,652,039,375 $ 1.129283 $ 2,994,904
2042 $ 2,975,802,277 $ 1.085525 $ 3,230,306
2043 $ 3,325,181,193 $ 1.043461 $ 3,469,699
2044 $ 3,701,946,849 $ 1.003028 $ 3,713,158
2045 $ 4,107,983,960 $ 0.964162 $ 3,960,761
2046 $ 4,545,298,244 $ 0.926801 $ 4,212,589
2047 $ 5,016,023,874 $ 0.890889 $ 4,468,719
2048 $ 5,522,431,349 $ 0.856367 $ 4,729,230
2049 $ 6,066,935,861 $ 0.823153 $ 4,994,014
Total $ 48,263,411
Source: Tiberius Solutions
Development within the proposed TIA would be estimated to generate additional assessed value
for local school funding over the 25-year forecast period. This assessed value would not result in
a net increase in total tax revenue for the local school district, but rather would reduce the levy
Rev. 7/18
rate that the school district imposes to produce the approved annual levy amounts for debt service
and enrichment.
4.6 Local Fire Service
This section can be expanded upon to include a summary of any feedback received
directly from the Fire District during the outreach phase of the project.
Exhibit 13 shown earlier in this report summarizes the impact from foregone property tax
revenue the proposed TIA is expected to have on each taxing district, including Fire District 39/
South King Fire and Rescue. These annual impacts would be estimated to begin at $11,000 per
year in 2026, increasing over time to $2,590,000 in 2049, the final year of the proposed TIA.
Cumulatively, it is estimated Fire District 39/South King Fire and Rescue would forego $25.0
million of property tax revenue over the 25-year life of the TIA, or an average of $1.0 million per
year. The TIA would not impact the district's other two levies: the Maintenance & Operations
and GO Bond levies.
RCW requires any TIA to include the negotiation of a mitigation plan if the TIA will impact at
least 20 percent of the assessed value of an impacted fire district. South King Fire and Rescue
provides service within the proposed TIA boundary and would be the only fire service provider
impacted by the proposed TIA. The total assessed value of the South King Fire and Rescue is
$28.7 billion in 2023, and is forecast to grow to $126.7 billion by 2049. Increment value for the
proposed TIA would be $0 in 2024 and is forecast to grow gradually over time to nearly $6.1
billion in 2049. Thus, the proposed TIA increment value is estimated to be less than 5% of the
total assessed value for South King Fire and Rescue in each year of the proposed TIA, and
therefore would not require the negotiation of a mitigation plan. The ratio of increment value to
total value for South King Fire and Rescue is shown in Exhibit 31.
Rev. 7/18
Exhibit 31. Forecast Proposed Federal Way TIA Increment Value as a Share of South King Fire
and Rescue Total Assessed Value (Tax Year 2023 to 2049).
% of
Tax Federal Way TIA District
Year District Total AV Increment Total
2023
$
28,647,944,719
$
-
0.0%
2024
$
30,366,821,402
$
-
0.0°/a
2025
$
32,188,830,686
$
9,997,000
0.0%
2026
$
34,120,160, 527
$
20, 503, 847
0.1 %
2027
$
36,167,370,159
$
31, 546, 543
0,1 %
2028
$
38,337,412,368
$
60,945,824
0,2%
2029
$
40,637,657,110
$
102,388,281
0.31/o
2030
$
43, 075, 916, 537
$
141, 277, 580
0.3 %
2031
$
45, 660,471, 529
$
179,136, 737
0.4%
2032
$
48,354,439,349
$
224,276,674
0.5%
2033
$
51,207,351,271
$
268,529,528
0,5%
2034
$
54,228,584,995
$
420,388,949
0,8%
2035
$
57,428,071,510
$
477,030,288
0.8%
2036
$
60,816,327,729
$
643,805,496
1.1 %
2037
$
64,404,491,065
$
1,154,808,672
1.8%
2038
$
68,204,356,039
$
1,586,547,651
2.3%
2039
$
72,160, 208, 689
$
1, 831, 224,118
2. 5 %
2040
$
76,345,500,793
$
2,352,229,124
3.1 %
2041
$
80,773,539,839
$
2,652,039,375
3.3%
2042
$
85,458,405,150
$
2,975,802,277
3.5%
2043
$
90,414,992,649
$
3,325,181,193
3.7%
2044
$
95,659,062,223
$
3,701,946,849
3.9%
2045
$
101, 207, 287, 832
$
4,107, 983, 960
4.1 %
2046
$
107, 077,310, 527
$
4, 545, 298, 244
4.2 %
2047
$
113,287,794,538
$
5,016,023,874
4.4%
2048
$
119,858,486,621
$
5,522,431,349
4.6%
2049
$
126,690,420,359
$
6,066,935,861
4.8%
Source: Tiberius Solutions
Rcv. 7/18
5 Evaluation of Risk Factors
Certain statements contained in this document reflect not historical facts but forecasts and
forward -looking statements. All projections, forecasts, assumptions, and other forward -looking
statements are expressly qualified in their entirety by the cautionary statements set forth in this
report. All forward -looking statements are inherently subject to a variety of risks and
uncertainties that could cause actual results or performance to differ materially from those that
have been projected. Such risks and uncertainties include, among others, changes in regional,
domestic, and international political, social, and economic conditions; federal, state, and local
statutory and regulatory initiatives; litigation, population changes; technological change; and
various other events, conditions, and circumstances, many of which are beyond the control of the
City.
5.1 Genera/ Economic Conditions
The City monitors economic changes in the region and on the national landscape. The City has
seen reduced single-family residential permits issued in 2022 when compared to the previous two
years. Current land use applications are up for commercial retail projects. Many businesses
continue to struggle to fill job openings and supply chain issues have caused inflationary
pressures on residents and the City. The City has seen increased costs for public works
construction projects, basic services and supplies that support the public services provided to
Federal Way residents.
Historical Sales Tax has trended positively. Factors such as inflation, growth of the underlying
retail base and economic uncertainty all contribute to a climate suggesting caution. That said,
2023 YTD Sales Tax is trending 14% over prior year. A cautious 5% increase in future years has
been budgeted, which would yield the following City -provided forecast for budgetary purposes in
the 2023-24 biennium and following year.
Exhibit 32. Sales Tax Revenue. Actual and Forecast, City of Federal Way
$25
0
$20
2
2016 Act 2017 Act 2018 Act 2019 Act 2020 Act 2021 Act 2022 Act 2023 Est
$14.2 $14.2 $14.7 $15.9 $16.1 $17.5 $19.2 $21.1
Source: City of Federal Way
2024 2025
forecast forecast
$22.6 $23.7
Historical assessed value of property citywide has trended positively since 2013, as shown in
Rev. 7/18
Exhibit 33.
Exhibit 33. Property Value, City of Federal Way
$20
C
O
$15
a0
v
$10
a
m $5
Q
0
2
a
$0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: City of Federal Way
Due to the 1 % cap on property tax levy for existing property, the increase in the City's annual
levy has of course not kept pace with the increase in assessed value.
Exhibit 34. Total Annual Levy, City of Federal Way
$12
c
$10
$8
$6
c
$4
c
Q $2
$0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source: City of Federal Way
The actual historical trend in Property Tax Rate has resulted in a decrease which creates a
theoretical capacity for voted lid lift. The General Fund levy maximum of $3.60 per $1,000 of
assessed value is reduced by $1.50 for the levy rate available for the overlapping fire district and
$0.50 for the overlapping library district, leaving a practical cap of $1.60 available to the City.
Rev. 7/18
Exhibit 35. Property Tax Rate, City of Federal Way
$2.00
o $1.80
0
$1.60
tfr --
a, 3 $1.40
> $1.20
f
M ur $1.00
jn� Lq
X W $0.80
>, ¢ $0.60
v O $0.40
a
o $0.20
a
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: City of Federal Way
The City Finance Department embarked on creating an investment portfolio of Treasuries and
uncallable Agencies for a substantial portion of City reserves. By evaluating historical and
forecasted cashflow needs, the finance staff commenced investing $55 million in $ 1 M
increments, maturing $1 M monthly. Historically, the City's cash was invested exclusively in the
State Treasurer's Local Government Investment Pool, which has an average maturity cap of 60
days. The City's laddered investment portfolio purchased longer maturities, up to 48 months,
allowing investing farther up the yield curve than the State Pool is able to. This, coupled with the
recent rise in underlying investment rates, has created a substantial, predictable and budgetable
income stream to the City's General Fund.
Exhibit 36. Past and Projected Investment Revenue, City of Federal Way
$3.0
N
r-
$2.5
ar $2.0
3
C
O7
m $1.0
E
N
$0.5
$0.0
------------------------------------------------------------------------- -
2017 Act 2018 Act 2019 Act 2020 Act 2021 Act 2022 Act 2023 Est 2024
Adopted
$0.50 $0.88 $1.25 $0.43 $0.08 $1.43 $2.95 $2.95
Source: City of Federal Way
5.2 Future Assessed Values and Tax Rates
This report forecasts future property tax allocation revenues based on the assumed timing and
value of new construction in the proposed TIA, future appreciation of those properties once they
Rev. 7/18
have been constructed, and future changes in property tax rates applicable to the calculation of
tax allocation revenues. All of these factors are subject to uncertainty, and future tax allocation
revenues could be higher or lower than forecast in this report. Factors that could result in lower
collections of tax allocation revenues include:
■ Delays in construction of private projects in the proposed TIA. The proposed TIA is
limited to 25 years of tax allocation revenue collection. Any delay in private construction
would reduce the total amount of tax allocation revenues collected during the 25-year
duration.
■ Lower than anticipated valuation of private projects in the proposed TIA. This report
estimates the value of new construction based on assumed construction costs. The King
County Assessor would ultimately determine the value of new construction, in part, based on
the net operating income of the properties at stabilization. It is likely that the Assessor would
determine the market value of improvements in the proposed TIA would exceed their
construction costs, but the actual determination of value depends on market conditions at the
time the new construction is added to the tax roll. If the Assessor values new construction in
the proposed TIA at less than the amounts assumed in this report, it would reduce the total
amount of tax allocation revenues collected during the 25-year duration.
■ Lower appreciation of property values for properties inside the proposed TIA than
countywide. The rate of appreciation of property values countywide determines annual
changes in applicable tax rates. This report assumes property values inside the proposed TIA
would appreciate at the same rate as properties countywide. If properties in the proposed TIA
appreciate at a faster rate than countywide, it would increase the total amount of tax
allocation revenues collected during the 25-year duration. However, if properties in the
proposed TIA appreciate more slowly than properties countywide, it would reduce the total
amount of tax allocation revenues collected during the 25-year duration.
5.3 Future Public Costs of Construction and/or Borrowing
This report estimates the future timing and value of construction of public projects partially or
fully funded by the proposed TIA. The actual timing and cost of these projects is uncertain and
could be affected by factors outside of the City's control. The terms of future indebtedness are
also uncertain. Changes in interest rate, amortization period, and other factors could result in a
total cost of borrowing that exceeds the assumptions used in this report. Borrowing assumptions
in this report were developed with the assistance of the City's financial advisors and reflect
conservative financing assumptions based on current market conditions.
Ultimately, if public construction costs are higher than anticipated or the cost of borrowing is
higher than anticipated in this report, the City could cover those higher costs by allocating more
of its general tax levy than is forecast in this report. Alternatively, the City could seek other
funding sources or eliminate or redesign elements of the public improvements to reduce the total
cost to the City.
5.4 Other City Revenues
The City would expect to pay a portion of the costs of the public infrastructure in the proposed
TIA with other legally available City revenues. General economic conditions, in addition to
Rcv. 7/18
conditions within the proposed TIA could affect taxable sales, real estate transactions, and other
taxable events. The City would be obligated to pay debt service on its limited tax general
obligation bonds even if City revenues are negatively affected by these or other conditions.
5.5 Non -Voted Debt Limit
The City's ability to issue limited tax general obligation bonds is limited by assessed value
within the City at the time the bonds are issued. A decline in assessed value in the City, or
growth that is slower than expected, could constrain the City's non -voted debt capacity and
ability to finance proposed TIA (and other) projects with non -voted debt. If the City is required to
fund a greater share of project costs on a pay -go basis due to debt capacity constraints, the pace
of the investment may be slowed with resulting impacts on private development.
5.6 Seismic Activity and Other Natural Disasters
The City can give no assurance regarding the effect of an earthquake, a tsunami from seismic
activity in Washington or in other areas, a volcano, mudslide, or other natural disaster, or that
surrounding facilities and infrastructure could or would be rebuilt and reopened in a timely
manner following a major earthquake or other natural disaster.
5.7 Initiatives and Referenda
In recent years, there have been a number of initiatives filed in the State, including initiatives
targeting fees and taxes imposed by local governments or subjecting local governments to
additional requirements. The City cannot predict whether this trend will continue, whether any
filed initiatives will receive the requisite signatures to be certified for the ballot, whether such
initiatives will be approved by the voters, whether, if challenged, such initiatives will be upheld
by the courts and whether any current or future initiative could have a material adverse impact on
the City's finances or operations.
5.8 City of Federal Wa y's Approach to Financial Uncertainty
The City has considered all of the issues identified above. The City intends to secure the debt
with a pledge of both tax allocation revenues and the City's general tax levy. The City maintains
reserve fund balances in fourteen funds in addition to the General Fund. Current fund balance
policy requires one year of debt service as a transfer in to the Debt Service Fund covering the
next year's debt service amount, in advance. The City has a separate Strategic Reserve Fund of
$3 million to accommodate unexpected operational changes, legislative impacts, or other
economic events affecting the City's operations which could not have been reasonably
anticipated at the time the budget was prepared.
Some of the potential risk factors could be addressed by delaying the timing of the proposed
indebtedness or reducing the list of projects to be funded by the indebtedness. The City
anticipates incurring the indebtedness in 2024 when multiple private development projects within
the proposed TIA should either be completed or under construction. If those private construction
efforts are delayed or substantially reduced in value, the City could choose to alter their approach
to the planned indebtedness. The City has considered, and will continue to consider alternative
Rev. 7/18
financing structures that may be employed to address any of the risk factors identified in this
report.
Rev. 7/18
Appendix A: Tax lots included in the Proposed Federal Wav TIA Bounda
Property
Identification
Number
Levy
Code
Total
Appraised
Value (2024)
Total Taxable
Value (2024)
Zone
Acres
8665030000
1202
$0
$0
City
Center Core
1.7
8665030010
1202
$5,378,600
$0
City
Center Core
0.0
8655030020
1202
$6,640,700
$0
City
Center Core
0.0
8655030030
1202
$5,378,600
$0
City
Center Core
0.0
8655030040
1202
$6,640,700
$0
City
Center Core
0.0
8665030050
1202
$5,378,600
$0
City
Center Core
0.0
8665030060
1202
$6,640,700
$0
City
Center Core
0.0
8665030070
1205
$5,378,600
$0
City
Center Core
0.0
8665030080
1205
$6,640,700
$0
City
Center Core
0.0
8665030090
1202
$5,378,600
$0
City
Center Core
0.0
8665030100
1202
$6,640,700
$0
City
Center Core
0.0
8575000020
1202
$2,430,800
$0
City Center
Frame
1.9
8575000010
1202
$21,559,700
$0
City Center
Frame
3.1
7978200526
1202
$14,949,700
$0
City
Center Core
11.4
7978200525
1202
$6,986,000
$0
City
Center Core
4.4
7622400025
1202
$2,245,600
$2,245,600
City
Center Core
1.8
7622400020
1202
$84,400
$84,400
City
Center Core
1.0
7622400019
1205
$12,725,100
$12,725,100
City
Center Core
10.4
7622400011
1205
$1,807,100
$1,807,100
City
Center Core
1.5
7622400010
1205
$38,514,100
$38,514,100
City
Center Core
31.6
2423200070
1205
$870,000
$0
City
Center Core
0.5
2423200060
1202
$103,600
$0
City
Center Core
1.2
2423200055
1202
$896,300
$0
City
Center Core
0.5
2423200050
1202
$10,485,700
$0
City
Center Core
7.5
2423200040
1202
$1,853,900
$0
City
Center Core
0.9
2423200030
1202
$826,600
$0
City
Center Core
0.4
2423200020
1202
$1,133,100
$0
City
Center Core
0.5
2423200010
1202
$11,000
$0
City
Center Core
0.1
1621049039
1202
$1,917,700
$0
Community
Business
2.2
1621049037
1202
$44,685,000
$44,685,000
RM3600
62.7
1621049028
1202
$7,892,800
$7,892,800
City
Center Core
2.0
1621049023
1202
$4,216,600
$4,216,600
Community
Business
6.1
921049337
1205
$44,200
$0
City
Center Core
1.0
921049321
1202
$1,570,600
$0
City Center Core
2.3
Rev. 7/18
Property
Identification
Number
Levy
Code
Total
Appraised
Value (2024)
Total Taxable
Value (2024)
Zone
Acres
921049304
1202
$5,751,500
$5,751,500
City Center Core
1.5
921049302
1202
$14,150,900
$14,150,900
City Center
Frame
7.0
0921049299-
03
1202
$7,867,900
$361,800
City Center Core
0.4
0921049299-
94
1202
$7,505,900
$0
City Center Core
0.3
921049298
1202
$54,635,900
$0
City Center Core
4.8
921049297
1202
$26,397,000
$26,397,000
City Center Core
6.0
921049296
1202
$832,200
$832,200
City Center Core
0.4
921049280
1202
$679,600
$0
City Center
Frame
0.8
921049276
1202
$3,331,900
$3,331,900
City Center Core
1.9
921049271
1202
$1,955,500
$1,955,500
City Center Core
0.5
921049270
1202
$2,204,100
$2,204,100
City Center Core
0.9
921049172
1202
$3,536,900
$3,536,900
City Center Core
1.5
921049163
1202
$1,711,900
$1,711,900
City Center
Frame
1.3
921049111
1202
$864,500
$864,500
City Center
Frame
0.7
921049057
1202
$661,400
$0
City Center Core
0.5
921049053
1202
$14,334,100
$14,334,100
City Center
Frame
8.9
921049042
1202
$558,700
$0
City Center Core
0.8
921049035
1202
$2,790,500
$2,790,500
City Center Core
2.4
921049030
1202
$2,634,400
$2,634,400
City Center Core
1.9
921049027
1202
$1,848,200
$0
City Center Core
1.3
921049021
1202
$5,487,400
$0
City Center Core
3.9
921049020
1202
$1,536,000
$1,536,000
City Center Core
0.3
921049019
1202
$1,455,700
$1,455,700
City Center
Frame
0.6
921049017
1202
$7,320,700
$0
City Center
Frame
5.6
Total
$407,958,900
$196,019,600
210.8
Source: Tiberius Solutions with data provided by the King County Assessor's Office
Rev. 7/18
Appendix B: Summary of Public Outreach
Public outreach included briefings with the City Council, general public, placing information on
the City of Federal Way website, interviews and updates with local businesses, community
organizations and taxing districts.
A.1 General Public & City Council:
Two advertised public briefings were held on August 15, 2023 and October 24, 2023. Both
briefings were advertised in the Federal Way Mirror (the legal newspaper of general circulation
in Federal Way) and advertised on the City of Federal Way website and through the City's social
media platforms. The notices were provided two weeks in advance of the meetings. The public
briefings covered the reason behind creating a tax increment area, a description of the tax
increment area, how tax increment financing works, the public improvements proposed to be
financed with the tax allocation revenues and a detailed estimate of tax revenues for the
participating local governments and taxing districts including the amounts allocated to the public
improvements.
The following summarizes the input at Public Briefing 1:
The two attendees representing South King Fire & Rescue were interested in the potential
impacts on the fire district and the foregone revenues to the fire district.
They stated that with the proposed new development there would be new demands on
their services but not associated new funding to pay for those services.
They asked about required mitigation in the statute. We noted that the estimated impact
on South King Fire & Rescue did not reach the required mitigation levels specified in
RCW Chapter 39.
There were no questions or comments at Public Briefing 2.
A Frequently Asked Questions (FAQs) was published on City of Federal Way website,
www.engagefw.com/tif, as well as notices of the Public Briefings. Additional information was
posted to the website after Public Briefing 1.
Tax Increment Financing was discussed with the Federal Way City Council on:
1/21/23: City Council Retreat
6/27/23: City Council Finance Economic Development & Regional Affairs Committee
2/3/24: City Council Retreat
4/2/24: City Council 1st Reading
4/16/24: City Council 2nd Reading (tentative)
Rev. 7/18
A.2 Local property owners and businesses:
City staff and the consulting team provided a virtual briefing to property owners and businesses
within the TIA on August 2, 2023. Information was provided on the Sound Transit project, the
Town Center 3 redevelopment project and the proposed Tax Increment Area. Questions centered
on the improvements the City was making and the City's development project. There was no
concern voiced about the tax increment area financing tool. The City's Economic Development
Director followed up with the attendees to answer any specific questions.
A.3 Taxing Districts/other governmental agencies:
The taxing districts were formally informed of the City of Federal Way's consideration of a TIA
in letters sent on July 24, 2023 and October 6, 2023. The letters explained the City's intent to
form a TIA and offered individual briefings for any parties interested in receiving more
information. The City received a response from King County and King County Library System.
Neither entity expressed concern, but additional information was requested and provided.
The City also has had a number of exchanges with South King Fire regarding the TIA. The City
initially expected to bring an ordinance to the Council for action in 2023. However, the Mayor
tasked the City Administrator with opening a direct dialogue with South King Fire to alleviate or
reduce any concerns they might have about the City forming a TIA. Staff presented to the Fire
Commissioners at a special Commission Meeting on March 4, 2024. These conversations are
continuing currently.
In addition, there were meetings with the Washington State Treasurer's office and the
Washington Department of Revenue to ensure coordination on the project and identification of
issues for the project.
Rev. 7/18
Appendix C: Alternate Scenario
The City evaluated a more conservative financial scenario, with the same assumptions on tax
allocation revenues, project funds, and amortization period, but assuming taxable debt rather than
tax exempt. This alternate scenario results in a true interest cost of 5.50%, which 83 basis points
higher than the tax-exempt scenario included in the main body of this report. Exhibit 37 shows
the estimated terms of indebtedness for the alternate scenario.
Exhibit 37. Estimated Terms of Indebtedness for Proposed Federal Way TIA Public
Improvements, Alternate Scenario (Nominal $)
Series 2024
Closing Month
Taxable Status
True Interest Cost
December 2024
Taxable
S.50%
Aggregate Par (Principal) $ 31,150,000
Project Funds from Bond Proceeds $ 30,800,000
Source: PFM Financial Advisors LLC
Exhibit 38 shows the estimated debt service payments in the alternate scenario. Total debt service
payments are estimated to cost $68,270,964 over the life of the TIA, compared to $62,015,500 in
the baseline scenario.
Rev. 7/18
Exhibit 38. Estimated Debt Service Payments, LTGO Debt for Proposed Federal Way TIA Public
Projects, Alternate Scenario (Nominal $)
Year
Principal
Interest
Total
2025
$
$
1,696,984
$
1,696,984
2026
$
$
1,696,984
$
1,696,984
2027
$
$
1,696,984
$
1,696,984
2028
$
$
1,696,984
$
1,696,984
2029
$
$
1,696,984
$
1,696,984
2030
$
$
1,696,984
$
1,696,984
2031
$
$
1,696,984
$
1,696,984
2032
$
$
1,696,984
$
1,696,984
2033
$
$
1,696,984
$
1,696,984
2034
$
$
1,696,984
$
1,696,984
2035
$
$
1,696,984
$
1,696,984
2036
$
$
1,696,984
$
1,696,984
2037
$
$
1,696,984
$
1,696,984
2038
$
$
1,696,984
$
1,696,984
2039
$
$
1,696,984
$
1,696,984
2040
$
1,020,000
$
1,696,984
$
2,716,984
2041
$
1,410,000
$
1,642,853
$
3,052,853
2042
$
1,820,000
$
1,567,812
$
3,387,812
2043
$
2,260,000
$
1,470,424
$
3,730,424
2044
$
2,730,000
$
1,348,972
$
4,078,972
2045
$
3,235,000
$
1,201,606
$
4,436,606
2046
$
3,770,000
$
1,025,946
$
4,795,946
2047
$
4,345,000
$
820,368
$
5,165,368
2048
$
4,955,000
$
581,958
$
5,536,958
2049
$
5,605,000
$
309,284
$
5,914,284
Total
$
31,150,000
$
37,120,964
$ 68,270,964
Source: PFM Financial Advisors LLC
Exhibit 39 shows the estimated annual debt service payments in the alternate scenario alongside
the projected tax allocation revenues and the other general fund resources that would be required
to cover debt service payments. Over the 25-year maximum duration of the proposed TIA,
projected tax allocation revenues are expected to be equal to the total cost of debt service in the
alternate scenario. However, annual tax allocation revenues are not anticipated to be sufficient to
cover annual debt service payments until 2037, requiring contributions of other general fund
resources to cover the debt service in earlier years. The total amount of general fund contribution
is forecast to be $14,810,948 in the alternate scenario, which would be repaid over time with
surplus tax allocation revenues in later years.
Rev. 7/18
Exhibit 39. Tax Allocation Revenues and Debt Service Payments, Proposed Federal Way TIA,
Alternate Scenario (Nominal $)
Revenue Source
Tax Allocation
Tax
General
Revenue Debt
Allocation
Fund
Service
Year
Payment
Revenue
Resources
Coverage
2025
$
1,696,984
$
32,894
$
1,664,090
0.02
2026
$
1,696,984
$
61,761
$
1,635,223
0.04
2027
$
1,696,984
$
91,347
$
1,605,636
0.05
2028
$
1,696,984
$
161,570
$
1,535,414
0.10
2029
$
1,696,984
$
260,941
$
1,436,043
0.15
2030
$
1,696,984
$
346,134
$
1,350,850
0.20
2031
$
1,696,984
$
421,923
$
1,275,061
0.25
2032
$
1,696,984
$
507,799
$
1,189,185
0.30
2033
$
1,696,984
$
584,468
$
1,112, 516
0.34
2034
$
1,696,984
$
879, 587
$
817,396
0.52
2035
$
1,696,984
$
959,542
$
737,442
0.57
2036
$
1,696,984
$
1,244,893
$
452,091
0.73
2037
$
1,696,984
$
2,146, 716
$
-
1.27
2038
$
1,696,984
$
2,835,883
$
1.67
2039
$
1,696,984
$
3,147, 017
$
1.85
2040
$
2,716,984
$
3,886,043
$
1.43
2041
$
3,052,853
$
4,212,431
$
1.38
2042
$
3,387,812
$
4,543,880
$
1.34
2043
$
3,730,424
$
4,880,988
$
1.31
2044
$
4,078,972
$
5,223,867
$
1.28
2045
$
4,436,606
$
5,572,626
$
1.26
2046
$
4,795,946
$
5,927,377
$
1.24
2047
$
5,165,368
$
6,288,232
$
1.22
2048
$
5,536,958
$
6,655,304
$
1.20
2049
$
5,914,284
$
7,028,439
$
1.19
Total $ 68,270,964 $ 67,901,663 $ 14,810,948 0.99
Source: PFM Financial Advisors LLC and Tiberius Solutions
Rev. 7/18
Attachment 2: Letter from State Treasurer
TAX INCREMENT FINANCING
PROJECT N L I REVIEW
IE
- CITY OF FEDERAL WA -
7'05E:R 12,202-3
OFFICE OF THE TREASURER
STATE OF WA HINGTON
Mike Pellicciotti
Rev. 7/18
OFFICE OF THE TREASURER �.
STATE OF WASHINGTON
Mike Pellicciotti
October 12, 2023
Steve Groom, Finance Director
City of Federal Way
33325 8th Avenue South
Federal Way, WA 98003
Dear Mr. Groom
This letter confirms the Office of the State Treasurer's ("05T") receipt and review of the City of Federal
Way's (the "City") tax increment financing ("TIF") Project Analysis provided on July 19, 2023. OST and
Montague DeRose and Associates, the state's municipal advisor, have reviewed the provided material.
Based on our review, which is detailed in the sections to follow, we believe the City's Project Analysis
generally addressesthe topics listed in section 020(2) of RCW 39.114 (the "TIF Statute").
Please note, this review is based on the information, projections, and assumptions provided by the City
and its consultants in the Project Analysis. OST has not independently verified the data or its accuracy or
performed any feasibility analyses or projections of its own.
Executive Summary
Accordingto the City, its downtown area, or "City Center," does not currently present an identifiable sense
of an urban center. To improve this, the City is taking steps to transform its City Center into a walkable
downtown and destination for the community. The City built the Performing Arts & Entertainment Center
and the Town Square Park as initial cornerstone elements to the City Center. Additionally, a Sound Transit
light rail station is scheduled to open in 2026, which will allow residents, employees, and visitors greater
transit access to/from the City Center. The City's proposed tax increment area (the "TIA") will include 215
acres surrounding these three community improvements and will be generally bordered by 1-5 to the east,
South 312`' Street to the north, Highway 99 to the west, and South 330" Street to the south.
The Project Analysis identifies a set of public improvement projects estimated to cost between $72 million
and $170 million in total (2023 dollars). The City plans to fund these projects directly with tax increment
revenues collected over time or in the near -term from the issuance of bonds to be repaid with tax
increment revenues_ The City specifically identified two high -priority projects requiring funding early in
the life of the TIA in order to facilitate the Phase 1 development of a planned mixed -use development: a
civic plaza estimated to cost $6.0 million and a public parking garage estimated to cost $30.0 million.
Including the developer's contribution to the public improvements, the net funding requirement for these
two public improvements is equal to $30.8 million and would be partia lly financed from the City's issuance
of Limited Tax General Obligation Bonds in late 2024.
Legislative Building, P.O. Box 40200 Olympia, Washington 98504-0200
(36D) 902-9000 • TFY USERS: CALL 711 • FAX (360) 902-9037
www.tre.wa.gov
Rev. 7/18
PAGE 2 OF 14
OST's primary goal in our statutorily mandated review of the Project Analysis is to ensure that the Project
Analysis addresses the topics listed in the TIF statute and that risks to the City that might result from the
implementation of the project are adequately disclosed.
Our review of the Project Analysis found potential risks worth consideration. Most notably, after the
issuance of bonds, the City will be obligated to pay any deficiency between tax increment revenues and
debt service. The City anticipates issuing $29.6 million of tax-exempt bonds to finance the $30.8 million
of Public Improvements at a true interest cost of 4.67%. In the Baseline Development Scenario, the City
projects twelve years of annual deficiencies between tax increment revenues and debt service, averaging
$1.0 million per year, resulting in an accumulated deficit of $12.1 million by 2036. The City expects to
draw from general revenues and reserves to fund these annual shortfalls through 2036, and then
reimburse itself over nine years from 2037-2045, when annual tax increment revenues are projected to
exceed annual debt service.
Certain other factors, including the following, could negatively impact tax increment revenues, potentially
causing them to be inadequate to fully reimburse the City for funds advanced to pay debt service on the
Bonds: (1) increases in the cost of the Public Improvements; (2) delayed or less than expected private
development within the TIA; (3) lower -than -expected future assessed values within the TIA; and, (4)
higherthan expected borrowing cost for the bonds issued to finance the Public Improvements.
Because of the project's potential cost to the City's general fund, it is essential that decision makers
understand and accept the project's risks and potential long-term costs in comparison to its benefits.
Statutory Role and Purpose of Review
As enacted by the 2021 Washington State Legislature, section RCW 39.114.020(7)(b) requires that prior
to the adoption of an ordinance authorizing the creation of a TIA, the local government proposing the TIA
must provide a project analysis to OST for review. OST must complete the review within 90 days of receipt
of the project analysis. Upon completing the review, OST must promptly provide to the local government
any comments regarding suggested revisions or enhancements to the project analysis that OST deems
appropriate. OST received the City's Project Analysis (dated July 18, 2023) on July 19, 2023.
Rev. 7/18
PAGE 3 OF 14
Project Team
Jurisdiction:
County:
City of Federal Way
King County
Project Title:
Development Areas:
City Center TIA
The TIA boundary includes 215 acres and is
generally bordered by 1-5 to the east, South
312th Street to the north, Highway 99 to the
west, and South 330th Street to the south.
City of Federal Way:
Consultants:
Steve Groom, Finance Director
Tiberius Solutions LLC
Nick Popenuk, Principal
PFM Financial Advisors LLC
Duncan Brown, Director
Matt Schoenfeld, Sr. Managing Director
Foster Garvey PC
Bill Tonkin
Proposed Tax Increment Area
Federal Way's TIA will include 215 acres and is generally bordered by 1-5 to the east, South 31V' Street to
the north, Highway 99 to the west, and South 330t" Street to the south. The City's downtown, or "City
Center," does not currently present an identifiable sense of an urban center. To improve this, the City is
taking steps to transform its City Center into a walkable downtown and destination for the community.
The City built the Performing Arts & Entertainment Center and the Town Square Park as initial cornerstone
elements aimed at defining the City Center neighborhood. A Sound Transit light rail station opening in
2026 will allow residents, employees, and visitors greater transit access to/from the City Center_ Figure 1
below shows the boundary map for the TIA.
Rev. 7/18
In tax year 2023, the 58 tax lots
within the TIA had total taxable
assessed value of approximately
$195.8 million, compared to a total
market value of $267.3 million. All
parcels in the TIA are zoned City
Center Core, City Center -Frame,
Community Business, or Multi -
Family Residential with respective
53%o 14%, 4% and 29% shares of the
total215 acres. Of the $195.8 million
of total taxable assessed value, 62%
is from the City Center Core parcels,
15% is from the City Center -Frame
parcels, 2% is from the Community
Business parcels and 21% from the
Multi -Family Residential parcel.
Figure 1— Map of the City Center TIA
PAGE 4 OF 14
There are 17 taxing districts whose —°--J
property tax levy would be directly
impacted by TIA. These districts are: ` ti
(1) County -wide regular levy (non -
voted), (2) AFIS (Fingerprint ID) Lid �+
Lift, (3) Parks Lid Lift, (4) Human i
r
Srvs/Vets Lid Lift, (5)
Children/Family Justice Ctr. Lid Lift, !
(6) Best Start for Kids Lid Lift, (7)
Radio Communications Lid Lift, (8) Q
County -wide Transport levy, (9)
County Cons. Futures, (10) County source: city of Federal Way
Flood Zone, (11) County Ferry
District, (12) Port General Fund, (13) EMS (voted), (14) Sound Transit, (15) City General Fund, (16) Library
General Fund and (17) Fire 39 General Fund. The levy rate for each of these jurisdictions will be applied
to the increased assessed valuation within the TIA and remitted to the City to pay debt service on the
bonds.
Project Description
Public Improvements within the TIA
The Project Analysis identifies numerous public improvement projects related to public parking,
recreation, mobility, community building, public safety, and placemaking which are estimated to cost
between $72 million and $170 million in total (2023 dollars). The City plans to fund these projects directly
with tax increment revenues collected over time or in the near -term from the issuance of bonds to be
repaid with tax increment revenues.
The City specifically identified a civic plaza estimated to cost $6.0 million and a public parking garage
estimated to cost $30.0 million as two high -priority projects requiring funding early in the life of the TIA
Rev. 7/18
PAGE 5 OF 14
to facilitate the Phase 1 development of the One Trent project (an apartment and condominium
development).. The City's Project Analysis assumes One Trent will pay the City $10.0 million to acquire
the City -owned Town Center property located within the TIA, with $4.8 million of the $10.0 million being
used to repay an interfund loan on the property. The net funding requirement for these two public
improvements of $30.8 million would be financed from the City's issuance of Bonds in late 2024.
Private Development within the TIA
There are currently no projects in the TIA under construction or with approved permits for construction.
The City -owned property within the boundary is anticipated to be the site best situated for new private
construction. The City is negotiating an agreement with One Trent, a Seattle -based real estate developer,
forthe execution of four -phase development project on 10.6 acres of the TIA to construct a partments and
condominiums with an expected taxable assessed value of $472.5 million in 2023 dollars and $923.7
million in nominal dollars. Table 1, as prepared by the City, shows the expected phasing of the One Trent
Development Plan from 2027 through 2032. The
City's tax increment revenue projections anticipate that One Trent will apply for the City's Multifamily Tax
Exemption (MFTE) exempting new construction projects located in designated areas with at least 16
multifamily units from property taxes for an eight -year period. For phases 1, 2, and 3 of the development,
over 95% of total taxable value is assumed to be eligible for the MFTE exemption, with phase 4 assumed
to be not MFTE eligible.
Table 1— One Trent Development Plan (in $ 2023)
Taxable Value of
Development
Completion
Development
MFTE-Eligible
Non MFTE-
Phase
Type
Year
(2023 $)
Value
Eligible Value
Phase 1
Apartments
2027
$ 179,827,337
$ 172,312,858
$ 7,514,479
Phase 2
Apartments
2028
$ 110,900,540
$ 107,920,895
$ 2,979,645
Phase 3
Apartments
2030
$ 119,393,420
$ 115,507,471
$ 2,885,949
Phase
Condos
2032
$ 63,355,171
$ -
$ 63,355,171
Total $ 472,476,468 $ 395,741,224 $ 76,735,244
Source: City of Federal Way
A market analysis identified speculative development opportunities for properties located in the TIA but
not associated with One Trent. These potential developments are expected to occur in the TIA after
construction begins on One Trent and the bond -financed civic plaza and public parking garage. Of the 9.4
million square feet of potentially developable properties in the TIA, the market analysis estimated 17%
would experience new development over the 25-year forecast period, resulting in a total of 5,300 new
housing units with $1.6 billion in speculative new taxable assessed value (2023 dollars). The analysis
assumed that 80% of new value would be multifamily properties, with 100% of this value eligible for the
8-year MFTE, reducing the taxable assessed value from $1.6 billion to $1.2 billion. Table 2, as prepared by
the City, forecasts the baseline scenario of private development projected to occur in the TIA both from
One Trent and speculative development.
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PAGE 6 OF 14
Table 2 — Projected Increased Real Property in the TIA (in $ 2023)
Baseline Development Scenario
Year an
Tax Rolll
OneTrent
Development
Speculative
Development
2028
$ -
$ 14,819,826
2029
$ 7,514,479
$ 14,819,826
2030
$ 2,979,645
$ 14,819,826
2031
$ -
$ 14,819,826
2032
$ 2,885,949
$ 14,819,826
2033
$ -
$ 14,819,826
2034
$ 63,355,171
$ 14,819,826
2035
$ -
$ 14,819,826
2036
$ -
$ 74,099,129
2037
$ 172,312,858
$ 74,099,129
2038
$ 107,920,895
$ 74,099,129
2039
$ -
$ 74,099,129
2040
$ 115,507,471
$ 74,099,129
2041
$ -
$ 74,099,129
2042
$
$ 74,099,129
2043
$ -
$ 74,099,129
2044
$ -
$ 74,099,129
2045
$ -
$ 74,099,129
2046
$ -
$ 74,099,129
2047
$ -
$ 74,099,129
2048
$ -
$ 74,099,129
2049
$ -
$ 74,0990129
Total
$ 472,476,468
$ 1,155,946,409
Source: City of Federci Way
In its Project Analysis, the City prepared an Alternate Development Scenario which retains the anticipated
taxable value of the One Trent project but excludes all speculative development. In the Alternate
Development Scenario, the City issues bonds only to finance the $6.0 million cost of the civic plaza, not
the $24.9 million cost of the public parking garage, as existing surface parking capacity is deemed
adequate to support the One Trent development.
Assessed Value of the TIA
The assessed valuation of the TIA for the 2023 tax year is approximately $195.8 million, below both
statutory limits of $200 million in assessed valuation and 20% of the City's total assessed valuation of
$17.3 billion ($3.5 billion). The TIA's 2023 assessed value represents 1.10/c of the City's total assessed
valuation.
The magnitude and timing of real property development in the TIA will drive growth in incremental
assessed value and therefore tax increment revenues. For the two development scenarios provided by
the City, the incremental taxable assessed value of the TIA is estimated by assigning market -based
improvement prices reflecting the land use, size of the proposed development and the City's Multifamily
Tax Exemption. The City assumed the TIA base value and the assessed values of newly developed
properties both increase by 5.1% annually. This assumption uses long-term historical trends for per -capita
personal income growth for King County as the basis for forecasting appreciation of existing assessed
Rev. 7/18
PAGE 7 OF 1$
values and employs forecasts of population growth as the basis for projecting the increase in assessed
value from new construction.
Tax Increment Revenue Projections
The TIA is expected to take effect on June 1, 2024, and 2025 will be the first year that the TIA will receive
tax increment revenues. The term of the TIA is assumed at 25 years (the maximum allowed) with 2049 as
the final year the TIA will receive tax increment revenues. The City estimated the 2024 tax increment base
assessed value at $205.9 million and prepared the Baseline Development Scenario with $6.2 billion of
additional assessed value added to the TIA between 2025 and 2049 through new construction and
appreciation. Under the Baseline Development Scenario, $68.9 million of tax increment revenues are
projected to be collected over the 25-year term of the TIA. See Table 3 — Tax Allocation Revenues of the
TIA (Baseline Development Scenario).
Table 3 —Tax Allocation Revenues of the TIA (Nominal $j
Baseline Development Scenario
Tax
Assessed Value
Tax Allocation
Year
Total
Base Value
Increment
Levy Rate
Revenues
2023
$ 195,802,900
$ -
$ -
$ -
$
2024
$ 205,788,848
$ 205,788,848
$
$ -
$
-
2025
$ 216,284,079
$205,788,848
$ 10,495,231
$3.290400
$
34,533
2026
$ 227,314,567
$205,788,848
$ 21,525,719
$3.012200
$
64,839
2027
$ 238,907,610
$ 205,788,848
$ 33,118,762
$ 2.895700
$
95,901
2028
$ 269,174,210
$205,788,848
$ 63,385,362
$2,651100
$
168,039
2029
$ 311,542,953
$205,788,848
$ 105,754,105
$2.548600
$
269,522
2030
$ 351,421,265
$205,788,848
$ 145,632,417
$2.450100
$
356,808
2031
$ 390,336,150
$205,788,848
$ 184,547,302
$2.355300
$
434,672
2032
$ 436,602,762
$205,788,848
$ 230,813,914
$2.264200
$
522,608
2033
$ 482,057,730
$205,788,849
$ 276,268,882
$2.176600
$
601,321
2034
$ 635,199,468
$205,788,848
$ 429,410,620
$2,092300
$
998,476
2035
5 693,208,380
$205,788,848
$ 487,419,532
$2.011500
$
980,454
2036
$ 863,162,204
$205,788,848
$ 657,373,356
$ 1.933700
$
1,271,146
2037
$ 1,377,615,782
$205,788,848
$ 1,171,826,934
$ 1.859000
$
2,178,386
2038
$ 1,813,096,405
$205,788,848
$ 1,607,307,557
$ 1.787500
$
2,873,039
2039
$ 2,061,826,488
$205,788,848
$ 1,856,037,640
$ 1,719600
$
3,189,718
2040
$ 2,587,219,174
$205,788,848
$ 2,381,430,326
$ 1.652100
$
3,934,363
2041
$ 2,991,774,698
$205,788,848
$ 2,685,985,850
$ 1.589400
$
4,266,440
2042
$ 3,220,665,528
$205,788,848
$ 3,014,976,680
$ 1.527000
$
4,603,647
2043
$ 3,575,581,717
$205,788,848
$ 3,369,792,869
$ 1.467900
$
4,946,590
2044
$ 3,958,322,406
$205,788,848
$ 3,752,533,558
$ 1.411100
$
5,295,382
2045
$ 4,370,802,557
$205,788,848
$ 4,165,013,709
$ 1.356600
$
5,650,136
2046
$ 4,815,060,087
$205,788,849
$ 4,609,271,239
$ 1.304100
$
6,010,966
2047
$ 5,293,263,427
$205,788,848
$ 5,087,474,579
$ 1.253700
$
6,377,987
2048
$ 5, B07, 719, 537
$205,788,848
$ 5, 601, 930, 689
$ 1. 205200
$
6,751,314
2049
$ 6,360,882,392
$205,788,848
$ 6,155,093,544
$ 1.158500
$
7,130,790
Total
$
68,907,079
Snarre: City of Federoi Way
As noted above, the City prepared an Alternate Development Scenario which retains the anticipated
taxable value of the One Trent development but excludes all speculative development. With the Alternate
Rev. 7/18
PAGES Or 14
❑evelopment Scenario, $2.2 billion of assessed value is added to the TIA between 2025 and 2049 through
new construction and appreciation. Under the Alternate Development Scenario, $30.9 million of tax
increment revenuesare projectedto be collected over the TIA term. See Table 4 —TaxAl location Revenues
of the TIA (Alternate Development Scenario).
Table 4—Tax Allocation Revenues of the TIA (Nominal $`
Alternate Development Scenario
Tax
Assessed Value
Tax Allocation
Year
Total
Base Value
Increment
Levy Rate
Revenues
2023
$ 195,802,900
$ 3.730590
$
2024
$ 205,788,848
$ 205,788,848
$ 3.487226
$ -
2025
$ 216,284,079
$ 205,788,848
$ 10,495,231
$ 1290391
$ 34,533
2026
$ 227,314,567
$205,788,848
$ 21,525,719
$ 3.012184
$ 64,839
2027
$ 238,907,610
$ 205,788,848
$ 33,118,762
$ 2.895675
$ 95,901
2028
$ 251,091,898
$205,788,848
$ 45,303,050
$ 2.651069
$ 120,102
2029
$ 273,533,933
$ 205,788,848
$ 67,745,085
$ 2.548528
$ 172,650
2030
$ 291,500,045
$205,788,848
$ 85,711,197
$ 2.449975
$ 209,990
2031
$ 306,366,547
$ 205,788,848
$ 100,577,699
$ 2.355220
$ 236,883
2032
$ 326,287,697
$ 205,788,848
$ 120,498,849
$ 2.264036
$ 272,814
2033
$ 342,928,370
$ 205,788,848
$ 137,139,522
$ 1176389
$ 298,469
2034
$ 464,603,684
$205,788,848
$ 258,814,836
$ 2.092129
$ 541,474
2035
$ 488,298,472
$ 205,788,848
$ 282,504,624
$ 2.011276
$ 568,205
2036
$ 513,201,694
$ 205,788,848
$ 307,412,846
$ 1.933408
$ 594,354
2037
$ 868,342,479
$205,788,848
$ 662,353,631
$ 1.858555
$ 1,231,392
2038
$1,129,170,653
$205,788,848
$ 923,381,805
$ 1.786943
$ 1,650,030
2039
$1,186,758,356
$205,788,848
$ 980,969,508
$ 1.717900
$ 1,685,207
2040
$1,503,291,030
$205,788,848
$1,297,502,182
$ 1.651328
$ 2,142,601
2041
$1,579,958,873
$205,788,848
$1,374,170,025
$ 1.587535
$ 2,181,543
2042
$1,660,536,776
$ 205,788,848
$ 1,4.54,747,928
$ 1.52601.5
$ 2,219,967
2043
$1,745,224,151
$ 205,788,848
$ 1,539,435,303
$ 1.466879
$ 2,258,165
2044
$1,834,230,583
$205,788,848
$1,628,441,735
$ 1.410034
$ 2,296,158
2045
$1,927,776,343
$ 205,788,848
$ 1,721,987,495
$ 1.355392
$ 2,333,968
2046
$ 2,026,092,936
$ 205,788,848
$ 1,820,304,088
$ 1.302868
$ 2,371,615
2047
$2,129,423,675
$205y788,848
$1,923,634,827
$ 1.252379
$ 2,409,119
2048
$ 2,238,024,283
$ 205,788,848
$ 2,032,235,435
$ 1.203846
$ 2,446,499
2049
$2,352,163,527
$205,788,848
$2,146,374,673
$ 1.1571.51
$ 2,483,679
Total
$ 30,920,161
Source: City of Federal Wcy
Under the TIF Statute, only certain regular tax levies are available to the TIA. The taxes applied with regular
levies must conform with the constitutional 1% limit as well as the $5.90 aggregate limits_ Both parts of
the State School levy, local school district excess levies, voted bond levies, and levies of port districts for
band payments are excluded from the TIA levy rate. The TIA's annual levy rate may change from one year
to the next based on factors includingfuture incremental assessed value of the TIA, future assessed values
of the taxing districts, and relevant levy limits. For the two development scenarios, the City's analysis
calculated the levy rate for each of these jurisdictions and applied the levy rates to the incremental
assessed valuation within the TIA.
The City created a multi -year cash flow model to estimate the annual tax increment revenues for the two
development scenarios; Figure 2 below provides a visual comparison. Collection of tax increment
Rev. 7/18
PAGE 9 OF 14
revenues is projected for the 2025-2049 period, with total revenues for the Baseline Development and
Alternate Development scenarios at $68.9 million and $30.9 million, respectively. The total tax increment
revenues of the Alternate Development Scenario are equivalent to 45% of the total for the Baseline
Development Scenario.
n, 000
Figure 2 — Projected Tax Increment Revenues
Baseline and Alternate Development Scenarios
■ 53 eline Development Scenario ■AR erna[e De velopm ent Scenario
7,000
0,000
5,000
8 4,000
3,000
2,000
1,000
20I5 2026 2027 2028 2029 2030 2031 203Z 2033 2034 2035 2036 2037 2038 2039 2040 2042 2042 2043 2044 Z045 Z046 Z047 Z048 2049
Source: City of Federal Way
Financing Plan for Public Improvements
As stated in the Project Analysis, because of their general obligation pledge, the City will be required to
pay the full debt service due on the Bonds from available resources, regardless of the amount of tax
increment revenues generated within the TIA. The City acknowledged that tax increment revenues early
in the life of the TIA are projected to be insufficient to fully cover debt service payments in both
development scenarios.
In the Baseline Development Scenario, the City anticipates issuing $29.6 million of tax-exempt bonds in
December 2024 to finance the $30.8 million of Public Improvements. The City's structure for the bonds
assumes interest rates as of July 12, 2023, plus a 0.50% cushion, resulting in a true interest cost of 4.67%.
In this scenario, total principal and interest is projected to be $62.0 million. The City plans to structure its
bonds with interest -only payments from 2025 through 2039 to better align debt service payments with
anticipated tax increment revenues, and to minimize the amount of general fund resources that the City
will need to use to pay debt service in full each year. From 2040 through 2049, annual debt service
payments are projected to escalate from $2.4 million to $5.6 million.
In the Baseline Development Scenario, the City projects twelve years of annual deficiencies between tax
increment revenues and debt service, averaging $1.0 million per year, resulting in an accumulated deficit
Rev. 7/18
PAGE 10 of 14
of $12.1 million by 2036. The City expects to draw from general revenues and reserves to fund these
annual shortfalls through 2036, then reimburse itself over nine years from 2037-2045, when annual tax
increment revenues are projected to exceed annual debt service by $6.9 million. The City indicated it may
apply the $6.9 million surplus to fund additional public improvement projects within the TIA.
Regarding the City's projected annual shortages between tax increment revenues and debt service costs,
the Project Analysis notes: (1) the City maintains reserve fund balances in 14 funds in addition to its
general fund; (2) the City's current fund balance policy requires transferring the subsequent year's debt
service payment into the debt service fund during the current year; and (3) the City has a separate
Strategic Reserve Fund of $3 million to accommodate unexpected operational changes, legislative
impacts, or other economic events affecting the City's operations which could not have been reasonably
anticipated at the time of budget preparation.
In the Alternate Development Scenario, the City reduces its bond issuance to $6.0 million to finance the
cost of the civic plaza (roughly 19.5% of the $30.8 million), excluding the $24.8 million cost of the public
parking garage. This approach would allow the City to retain flexibility to adjust the amount of debt to
better reflect the amount of actual development during the first few years of the TIA. In our cash flow
analysis, we applied the 19.5% share to the Baseline Development Scenario's $62.0 million in total debt
service, maintaining the same amortization structure as the larger bond issue. The total amount of
principal and interest due under this scenario totals $12.1 million to finance the $6.0 million in civic plaza
improvements.
In the Alternate Development Scenario, the City projects eight years of insufficient tax increment revenues
compared to debt service, averaging $138,000 per year, resulting in an accumulated deficit of $1.1 million
by 2032. The City expects to cover these annual shortfalls with City general revenues and reserves through
2032, then reimburse itself over five years from 2033-2037 as total tax increment revenues are projected
to exceed total debt service by $18.8 million.
Rev. 7/18
PAGE 1 1 of 14
Debt Capacity
Based on the City's total 2023 assessed value of $17,270,222,086, the City has $259,053,331 in total non -
voted debt capacity (1.5% of 2023 AV). The City currently has $27,983,000 in outstanding non -voted debt,
leaving sufficient non -voted debt capacity of $231,070,331 before issuing the $29,630,000 of bonds
described in the Baseline Development Scenario in ❑ecember 2024. See Table 5 — Debt Capacity in 2023.
Table 5 — Debt Capacity in 2023
2023 Assessed Valuation $17,270,222,086
Non -Voted Debt Capacity (1.5% of AV) 259,053,331
Less: Outstanding Non -Voted Debt (27,993,000)
Remaining Non -Voted Debt Capacity 231,070,331
Less: Financing Proposed (29,630,000)
Projected Remaining Non -Voted Capacity $201,440,331
Projected Remaining Non -Voted Capacity % 77.8%
Source.- City of Federal Woy
Projected Debt Service Coverage
Tables 6 and 7 below summarize the total tax increment revenues, revenue shortfalls and debt service
coverage for the two development scenarios.
In the Baseline Development Scenario, the City would be required to fund a portion of the annual
debt service payments from general revenues or reserves due to insufficient tax increment
revenue from 2025 through 2036. Full reimbursement of the $12.1 million cumulative shortfall is
projected by 2045.
■ In the Alternate Development Scenario, the City would be required to fund a portion of the annual
debt service payments from 2025 through 2032, with a cumulative shortfall of $1.1 million, and
full reimbursement anticipated by 2037.
Rev. 7/18
PAGE 12 OF 14
Table 6— Summary of Tax Increment Revenue Shortfalls and Average Debt Service Coverage
First Year Tax
Year That Tax
Total Projected
Total Projected
Projected
Total Surplus/
Aggregate
Development
Increment Revenues
Increment Revenues
Tax Increment
Debt Service
Cumulative
(Shortfall]
Debt Service
Scenario
Exceed TIF Debt
Fully Reimburse Debt
Revenue
{$MMs]
Shortfall
ISMMs]
Coverage Ratio
Service
Service Shortfalls
($MMS)
($MMs)
Baseline
2037
2045
$68.907
$62.016
($12.080)
$6.892
1.11x
Alternate
2033
2037
$30.920
$12.081
($1.101)
$18.839
2.56x
1. Projected over the term of repayment of the Bonds, 2025-2049
Table 7 — Annual Tax Increment Revenue Shortfalls and Average Debt Service Coverage
Year
Baseline
Tax Debt
Increment Service
Revenues Bonds
0
Development
on
0
Scenario
Surplus
(Shortfall) (Shortfall)
0
{$Msl
Cumlative
Surplus
0
Debt
Service
Coverage
--
Alternate
Tax
Increment Service
Revenues
0
Development
Debt
on
Bonds (Shortfall)
0
Scenario
Cumlative
Surplus
(Shortfall)
0
01
Surplus
0
Debt
Service
Coverage
—
2024
2025
35
1,492
(1,447)
(2,447)
0.02x
35
289
(254)
(254)
0.12x
2026
65
1,482
(1,417)
(2,8641
0.04x
65
289
(224)
(478)
0.22x
2027
96
1,492
(1,386)
(4,249)
0.06x
96
289
(193)
(671)
0.33x
2028
169
1,492
(1,313)
_(S,Sfi3l
0.11x
120
289
(1691
(SM)
0.42x
2029
270
1,482
(1,212)
(6,775)
0.1RX
173
289
(116)
(955)
0.6ox
2030
357
1,482
(1,125)
(7,899)
_
0.24x
210
289
(79)
(1,034)
0.73x
2091
435
1,482
(1,041)
_ (8,946)
0.29x
237
289
(52)
(1,085)
0.82x
2032
S23
1,482
(959)
(9,905)
0.3Sx
273
289
(16)
{1,101)
0.95x
2033
601
1,482
(880)
(10,785)
0.41x
298
289
10
(1,091)
LOU
2034
898
1,492
(583)
(11,368)
0.61x
541
289
253
(938)
1.88x
2035
980
1,492
(501)
{11,869)
0.66x
568
289
280
(559)
1.97x
2096
1,271
1,482
(210)
{12,080)
0.86x
594
289
306
(253)
2.06x
2037
2,178
1,492
697
{11,3831
1.47x
1,231
289
943
690
4.27m
2099
2,873
1,482
1,392
(9,991)
1.94x
1,65o
289
1,361
2,051
5.72x
2039
3,190
1,492
1,708
(8,2831
2.15x
1,685
289
1,397
3,448
5.84x
2040
3,934
2,417
1,518
(6,7651
1.63m
2,143
471
1,672
5,120
4.55x
2041
4,266
2,750
1,517
(5,248)
1.55x
2,182
536
1,646
6,766
4.07x
2042
4,604
3,099
1,515
(3,734)
1.49x
2,220
602
1,618
8,384
3.69x
2043
4,947
3,429
1,519
(2,215)
1.44x
2,258
668
1,590
9,974
3.38x
2044
5,295
3,781
1,515
(701)
1.40x
2,296
737
1,560
11,534
3.12x
2045
5,65o
4,131
1,520
819
1.37x
2,394
805
1,529
13,063
2.90x
2046
6,011
4,491
1,520
2,339
1.34x
2,372
875
1,497
14,560
2.71x
2047
6,378
4,861
1,517
3,85S
1.31x
2,409
947
1,462
16,022
2.54x
2049
6,751
5,234
1,518
5,373
1.29a
2,446
1,020
1,427
17,449
2AN
2049
7,131
5,612
1519
61892
127x
2,484
1,093
1,390
18,839
2.27x
Total
68,907
62 016
6,892
30,920
12,081
18,839
Rev. 7/18
PAGE 13 of 14
Key Risks to the City
From our review of the Project Analysis, it appears that the anticipated Public Improvements and
economic development will provide significant benefit to the City. Nonetheless, the financial plan comes
with certain risks and costs to the City, primarily related to the projected annual tax increment revenues
being insufficient to fully pay the debt service due on the bonds the City plans to issue to finance a portion
of the Public Improvements, especially in the early years of the project.
During years with revenue shortfalls, the City will be required to pay any difference between the debt
service due and tax increment revenues collected using general City resources. While the City plans to
reimburse itself for debt service payments made from general City revenues and reserves, it is important
for decision makers to be aware of the potential magnitude and timing of such payments and
reimbursements. Since the TIF legislation limits the ability to collect tax increment revenues to a period
of not more than 25 years, delays could reduce the City's ability to fully reimburse itself from tax
increment revenues. Additional factorsthat could impactthe amountof tax increment revenues collected
are described below:
Escalation of Project Costs: With the Public Improvements projected to be completed over a number
of years, inflation could have a significant impact on the final cost. The City did not disclose if a
construction cost inflator was included in its cost range for the Public Improvements.
Economic Conditions: Growth in the TIA's assessed value could be negatively impacted by a downturn
in the economy. A variety of economic factors could negatively impact the timeline and ultimate
demand for development, jeopardizing the rate and scale of private development, potentially
reducing tax increment revenues.
Permits: Unforeseen delays in permits could negatively impact the construction of private
developments within the TIA. Such delays could negatively impact the timing and/or amount of tax
increment revenues generated by the TIA.
Construction Delays: Any delay in the construction timelines of the private development projects
could reduce the amount of tax increment revenues produced by the TIA. Similarly, any delay bythe
City in completing the planned Public Improvements could delay private developers' abilities to
complete their private developments, potentially reducing the amount of tax increment revenues.
Assessed Valuations: As private developments are completed, tax increment revenues may be lower
than projected if the assessed values of the projects are lower than expected or take more time to be
reflected on the county's tax rolls than expected.
Interest Rote Risk: The City is exposed to interest rate risk until its bonds are sold. The Project Analysis
assumes interest rates as of July 12 plus a 0.50°% cushion, resulting in a true interest cost of 4.67%.
However, between July 12 and September 25, tax-exempt interest rates rose by an average of 0.60%
in the 2025-2049 maturity range expected for repayment of the bonds. The current borrowing cost
for the bonds is higher than the 4.67°% true interest cost assumed in the Project Analysis.
Risk SummM: The general impact to the City from any of the risk factors outlined above could be lower
than projected tax increment revenues and a greater than expected reliance on the City's general
revenues and reserves to pay the debt service due on the bonds issued to fund the Public Improvements
in the TIA. If tax increment revenues are lower than expected, it will force the City to apply more of its
available funds towards repayment of the bonds, reducing the City's ability to allocate those funds to
other projects or operations.
Rev. 7/18
PAGE 14 OF 14
Recommendations
To help ensure the financial success of the project and to minimize unanticipated costs, we recommend
the City considerthe following measures:
1. Prior to approving the TIA, we recommend that the City discuss and establish a policy regarding
how much debt service it is willing to pay from City general revenues and reserves on an annual
basis to offset years of tax increment revenue shortfalls.
2. We recommend that the City conservatively budget for and set funds aside to cover any projected
tax increment revenue shortfalls.
3. Prior to approving the TIA, we recommend that the City coordinate closely with other taxing
districts impacted by the project, and the County Assessor's Office, to ensure that all parties have
an accurate understanding of how the TIA will impact them, and to provide sufficient time to work
through any concerns.
4. As the project moves forward, we recommend that the City coordinate closely with the County
Assessor's Office to help ensure that the tax increment revenue projections match the County's
assessment process and are as accurate as possible.
5. The City's interest rate assumptions for its planned 2024 Bond issuance are below current tax-
exempt interest rates. We recommend that the City consider using more conservative interest
rate assumptions.
6. We recommend the City revisit public improvement cost projections frequently and utilize a
publicly recognized inflation index to inform inflation projections.
Thank you for the opportunity to review the City's Project Analysis. Based upon the information provided
to date in connection with this project, this concludes our review. If there are material changes in the
scope, timing, or cost of the project, please let us know. We wish the City all the best with the project.
Respectfully,
Mike Pellicciotti
Washington State Treasurer
Jason Richter
Deputy Treasurer
Rev. 7/18
ORDINANCE NO.24-
AN ORDINANCE of the City of Federal Way, Washington, designating
the Downtown Tax Increment area; setting a sunset date for the
increment area; identifying the public improvements to be financed;
imposing a deadline for commencement of construction; indicating the
City's intent to issue bonds to finance public projects; providing that
the increment area will take effect June 1, 2024; and providing for
related matters.
WHEREAS, the City has previously taken action to facilitate the redevelopment of its
downtown including the construction of the Performing Arts & Event Center, Town Square Park,
the Grand Staircase, the designation of an Opportunity Zone, and the adoption of a Planned Action
Environmental Impact Statement ("Planned Action EIS"); and
WHEREAS, the Washington State Legislature, during its 2021 legislative session, enacted
Engrossed Substitute House Bill 1189 as Chapter 207, Laws of 2021, titled "AN ACT Relating to
tax increment financing" and codified as RCW 39.114 (the "TIF Act"), which authorizes local
governments, including cities, to carry out tax increment financing of public improvements needed
to support vital private economic development projects; and
WHEREAS, the TIF Act was thereafter amended by Engrossed House Bill 1527 during
the 2023 legislative session; and
WHEREAS, it is desirable and in the best interest of the residents of Federal Way for the
City to continue taking action to facilitate the redevelopment of its downtown including adopting
tax increment allocation financing to fund public improvements in the downtown area; and
WHEREAS, the purpose of this ordinance is to designate an increment area that will enable
the City to carry out tax increment financing of the public improvements needed to serve the
resulting private development within that increment area; and
Ordinance No. 24- Page I of 27
WHEREAS, the City correctly followed the designation procedures identified in RCW
39.114.020(7); and
WHEREAS, subsequent to the briefings and review by the State Treasurer, the City revised
its proposed designation area (Exhibit B) in 2024, removing a property (parcel #0921049137), to
ensure the assessed value of the area was less than $200,000,000.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. Tax Increment Area designate Tax Increment Allocation Financing is hereby
adopted to pay for public investment project costs as provided for in 39.114 RCW, as described
and illustrated within the Project Area delineated in Exhibits A and B attached hereto and
incorporated herein by this reference ("Increment Area"). In making this designation, the City
finds that the Increment Area (i) is the only increment area designated by the City; (ii) is located
within the jurisdictional boundaries of the City; (iii) does not include the entire City; and (iv) does
not exceed an assessed valuation of $200,000,000 or 20% of the City's current assessed valuation.
Section 2. Commencement & Sunset date of the Increment Area. The Increment Area shall
take effect June 1, 2024. The sunset date of the Increment Area created by this ordinance is (i)
December 31, 2049, which is the date no later than 25 years after the first year (calendar year 2025)
in which tax allocation revenues will be collected on taxable property located in the Increment
Area; or, (ii) if earlier, the date on which the City certifies to the County Assessor that all public
improvement costs to be paid or reimbursed with tax allocation revenues derived from the
Increment Area have been fully paid, including but not limited to reimbursements to the City for
principal and interest payments required to be made by the City from revenue sources other than
tax allocation revenues on general obligation bonds issued to finance the portion of public
Ordinance No. 24- Page 2 of 27
improvement costs that are intended to be paid or retired, in whole, from tax allocation revenues,
as authorized by RCW 39.114.060(1).
Section 3. Project List. A list of improvements to be financed is provided in Exhibit C
attached hereto and incorporated herein by this reference. The City intends to issue bonds or other
obligations, payable in whole or in part, from tax allocation revenues to finance the public
improvement costs. The maximum estimated amount of bonds or obligations contemplated is
$36,000,000.
Section 4. Project Start Date. The City establishes a deadline of June 1, 2029, for
commencement of construction of the first public project identified in Exhibit C. In no event will
construction of the first project selected from the Project List commence later than June 1, 2029,
unless that deadline is extended for good cause.
Section 5. Findinfs. Based upon the Project Analysis conducted by the City's Consultant
Tiberius Solutions LLC, the City Council hereby makes the following findings:
(i) The public improvements proposed to be paid or financed with tax allocation revenues
are expected to encourage private development within the increment area and to increase the
assessed value of real property within the increment area;
(ii) Private development that is anticipated to occur within the increment area as a result of
the proposed public improvements will be permitted consistent with the permitting jurisdiction's
applicable zoning and development standards;
(iii) The private development would not reasonably be expected to occur solely through
private investment within the reasonably foreseeable future without the proposed public
improvements; and
Ordinance No. 24- Page 3 of 27
(iv) The increased assessed value within the increment area that could reasonably be
expected to occur without the proposed public improvements would be less than the increase in
the assessed value estimated to result from the proposed development with the proposed public
improvements.
Section 6. Preparation & Consideration of Project Analysis. As required by RCW
39.114.020(2), the City has caused to be prepared a Project Analysis to describe and analyze,
among other matters, the factors and considerations listed in that statute. The Project Analysis is
on file with the City Clerk. The City Council takes note of the conclusion expressed in the
Treasurer's Review Letter, which is attached as Exhibit D and incorporated herein by this
reference, that the City's Project Analysis addresses the requirements of RCW 39.114.020. In its
consideration and adoption of this ordinance, the City Council has reviewed and considered,
among other things, the Project Analysis and the Treasurer's Review Letter, including the "Risk
Factors" and "Recommendations" noted in the Treasurer's Review Letter.
Section 7. Reimbursement of Expenses. Pursuant to RCW 39.114.020(6), the City will
reimburse the County Assessor and County Treasurer for the direct expenses incurred with the
implementation and ongoing administration of the City's Increment Area. Such expenses shall be
deemed part of the public improvement costs and may be paid from the tax allocation revenues.
Section 8. Public Briefings Held by the City. As required by RCW 39.114.020(7)(a), the
City has held two public briefings for the community regarding the proposed public improvements
needed to serve the Increment Area. Public briefings were held on August 15, 2023, at 5:30 pm
at City Hall, and October 24, 2023, at 3:30 pm at City Hall, and announced to the public at least
two weeks prior to the date each briefing was held by publishing in the Federal Way mirror, and
by posting information on the City's website and on social media. Each public briefing included a
Ordinance No. 24- Page 4 of 27
description of the proposed Increment Area, the public improvements proposed to be financed with
tax allocation revenues, and an estimate of tax revenues provided by each impacted taxing district.
Additional briefings were held by the City Council at their annual retreat on January 21, 2023, at
the Dumas Bay Center; before the full Council on September 5, 2023; and, at the City's Finance,
Economic Development and Regional Affairs Council Committee on June 27, 2023, October 24,
2023, and March 26, 2024.
Section 9. Desi _ng ating the Increment Area. Following the adoption of this ordinance, the
City will deliver a certified copy of this ordinance to the County Treasurer, the County Assessor,
and the governing body of each taxing district within the Increment Area at their respective
addresses.
Section 10. Severability. The provisions of this ordinance are declared separate and
severable. The invalidity of any clause, sentence, paragraph, subdivision, section, or portion of this
ordinance, or the invalidity of the application thereof to any person or circumstance, shall not affect
the validity of the remainder of the ordinance, or the validity of its application to any other persons
or circumstances.
Section 11. Corrections. The City Clerk and the codifiers of this ordinance are authorized
to make necessary corrections to this ordinance including, but not limited to, the correction of
scrivener/clerical errors, references, ordinance numbering, section/subsection numbers and any
references thereto.
Section 12. Ratification. Any act consistent with the authority and prior to the effective
date of this ordinance is hereby ratified and affirmed.
Section 13. Effective Date. This ordinance shall be effective thirty (30) days after passage
and publication as provided by law.
Ordinance No. 24- Page 5 of 27
PASSED by the City Council of the City of Federal Way this day of ,
2024.
CITY OF FEDERAL WAY:
JIM FERRELL, MAYOR
ATTEST:
STEPHANIE COURTNEY, CMC, CITY CLERK
APPROVED AS TO FORM:
RYAN CALL, CITY ATTORNEY
FILED WITH THE CITY CLERK:
PASSED BY THE CITY COUNCIL:
PUBLISHED:
EFFECTIVE DATE:
ORDINANCE NO.:
Ordinance No. 24- Page 6 of 27
Exhibit A - Legal Description
Proposed Federal Way TIA Affected Parcels
Property Total Total
Identification Levy Appraised Taxable
Number Code Value Value Zone Acres
921049057
1202
$0
$0
City
Center
Core
0.5
921049111
1202
$806,900
$806,900
City
Center Frame
0.7
921049019
1202
$1,420,500
$1,420,500
City
Center Frame
0.6
921049020
1202
$1,344,000
$1,344,000
City
Center
Core
0.4
921049030
1202
$2,305,100
$2,305,100
City
Center
Core
1.9
921049035
1202
$2,674,300
$2,674,300
City
Center
Core
2.4
7978200525
1205
$6,308,600
$0
City
Center
Core
4.4
7978200526
1205
$0
$0
City
Center
Core
11.5
921049163
1202
$1,597,700
$1,597,700
City
Center Frame
1.3
921049172
1202
$3,242,200
$3,242,200
City
Center
Core
1.5
921049270
1202
$2,119,300
$2,119,300
City
Center
Core
0.9
921049271
1202
$1,722,700
$1,722,700
City
Center
Core
0.5
921049276
1202
$2,932,100
$2,932,100
City
Center
Core
1.9
921049280
1202
$0
$0
City
Center Frame
0.8
921049296
1202
$749,000
$749,000
City
Center
Core
0.4
921049302
1202
$13,626,800
$13,626,800
City
Center Frame
7.0
1621049023
1205
$3,689,500
$3,689,500
Commercial
6.5
1621049028
1205
$7,404,700
$7,404,700
City
Center
Core
2.0
1621049037
1205
$41,375,000
$41,375,000
Commercial
62.2
1621049039
1205
$0
$0
Commercial
2.2
2423200010
1202
$0
$0
City
Center
Core
0.1
2423200020
1202
$0
$0
City
Center
Core
0.5
2423200030
1202
$0
$0
City
Center
Core
0.4
2423200040
1202
$0
$0
City
Center
Core
0.8
2423200050
1202
$0
$0
City
Center
Core
7.5
2423200055
1202
$0
$0
City
Center
Core
0.5
2423200060
1202
$0
$0
City
Center
Core
0.9
2423200070
1202
$0
$0
City
Center
Core
0.5
7622400011
1202
$1,761,300
$1,761,300
City
Center
Core
1.5
7622400025
1202
$2,164,700
$2,164,700
City
Center
Core
1.8
7622400010
1202
$33,573,000
$33,573,000
City
Center
Core
31.7
7622400020
1205
$84,400
$84,400
City
Center
Core
0.9
921049299
1202
$5,452,800
$250,900
City
Center
Core
0.7
921049053
1202
$11,543,100
$11,543,100
City
Center Frame
8.8
921049021
1202
$0
$0
City
Center
Core
3.9
921049297
1202
$23,856,200
$23,856,200
City
Center
Core
6.0
8575000010
1202
$0
$0
City
Center Frame
3.1
Ordinance No. 24- Page 7 of 27
Property Total Total
Identification Levy Appraised Taxable
Number Code Value Value Zone Acres
8575000020
1202
$0
$0
City Center Frame
1.8
921049017
1202
$0
$0
City Center Frame
5.6
921049042
1202
$488,900
$0
City
Center Core
0.8
921049321
1202
$1,374,300
$0
City
Center Core
2.2
921049337
1202
$0
$0
City
Center Core
1.0
921049027
1202
$1,617,100
$0
City
Center Core
1.3
921049298
1202
$0
$0
City
Center Core
4.8
7622400019
1202
$10,732,900
$10,732,900
City
Center Core
10.4
8665030000
1202
$5,623,600
$0
City
Center Core
1.7
921049304
1202
$5,523,700
$5,523,700
City
Center Core
1.5
Total
$216,417,300
$195,802,900
215.0
Source: Tiberius Solutions with data provided by the King County Assessor's Office
Ordinance No. 24- Page 8 of 27
Levy
Property
2022for
Zane
Acres
2023for
2023for
Tax
Code
Identification
2023 payable
2024 payable
2024 payable
Status
Number
-Total
- Total
- Total
Taxable
Appraised
Taxable
Value
Value
Value
1202
921049017
$0
City Center
5.6
$7,320,700
$0
X
GOV
Frame
1202
921049019
$1,420,500
City Center
0-6
51,455,700
$1,455,700
T
Frame
1202
921049020
S1,344,000
City Center
0.4
$1,536,000
$1,536,000
T
Core
1202
921049021
SO
City Center
3.9
$5,487,400
$0
X
GOV
Core
1202
921049027
$0
City Center
1.3
$1,848,200
$0
X
GOV
Core
1202
921049030
$2,305,100
City Center
1.9
$2,634,400
$2,634,400
T
Core
1202
921049035
52,674,300
City Center
2.4
$2,790,500
$2,790,500
T
Core
1202
921049042
50
City Center
0.8
$558,700
5o
X
GOV
Care
1202
921049653
$11,543,100
City Center
8-8
$14,114,100
$14,334,100
T
Frame
1202
921049057
$0
City Center
0.5
$661,400
$0
X
GOV
Core
12C2
921049111
$806,900
City Center
0.7
$864,500
$864,500
T
Frame
1202
921049163
$1,597,700
City Center
1.3
$1,731,900
$1.711,900
T
Frame
12C2
921049172
$3,242,200
City Center
1.5
$3,536,900
$3,536,900
T
Core
1202
922049270
$2,119,300
City Center
0.9
$2,204,100
$2,204,100
T
Care
1202
921049271
$1,722,700
City Center
0.5
$1,955,500
$1,955,500
T
Core
1202
921049276
$2,932,100
City Center
1.9
$3,331,900
$3,331,900
T
Core
1202
921049280
$0
City Center
0 8
$679,600
S4
X
GOV
Frame
1202
921049296
$749,000
City Center
0,4
$832,200
$832,200
T
Core
1202
921049297
$23,85ll
City Center
6.0
$26,397,000
$26,397,000
T
Core
1202
921049298
$0
City Center
4.8
$54,635,900
$0
X
GOV
Core
1202
971049299
5250,900
CityCenter
0.7
$12,193,000
$303,500
T
PARTIALLY
Core
EXEMPT-NP
1202
921049302
513,626,800
City Center
7.0
$14,150,9CO
$14,150,900
T
Frame
1202
921049304
$5,523,700
City Center
1.5
$5,751,500
55,751,500
T
Care
1202
921049321
$0
City Center
2.2
$1,570,600
$0
X
GOV
Core
1202
921049337
$0
City Center
1.0
$44,200
$0
X
GOV
Core
1205
1621049C23
$3,689,500
Commercial
6.5
$4,216,600
$4,216,600
T
1205
1621049C28
$7,404,700
City Center
2.0
57,892,8C0
$7,892,800
T
Core
1205
1621049037
$41,375,000
Commercial
62.2
$44,685,000
$44,685,000
T
3205
1621049039
$0
Commercial
2.2
$1,917,700
$0
X
GOV
1202
2423200010
$0
City Center
0.1
$11,000
$0
X
GOV
Core
1202
2423200020
$0
City Center
0.5
$1,133,100
$G
x
GOV
Core
1202
2423200030
SO
City Center
0.4
$826,600
$0
X
GOV
Core
1202
2423200040
$0
City Center
0.8
$1,853,900
$0
X
GOV
Care
1202
2423200050
$0
City Center
7.5
$10,485,700
$0
X
GOV
Care
1202
24232000SS
$0
City Center
0.5
$896,300
$0
X
GOV
Core
1202
2423200060
$0
City Center
0.9
S103,600
$0
X
GOV
Core
1202
2423200070
$0
City Center
0.5
$870,000
$0
X
GOV
Core
Ordinance No. 24- Page 9 of 27
1202 7622400010 $33,573,000 City Center 31.7 $38,514,100 $38,514,100 T
Care
1202
7627400011
$1,761,300
City Center
1-5
$1,907,100
$1,807,100
T
Core
1202
7622400019
$10,732,900
City Comer
10.4
$12,725,100
$12,725,100
T
Core
1205
7622400020
$84,400
City Center
0.9
$24,400
$84,400
T
Core
1202
7622400025
$2,164,700
City Center
1.8
$2,245,600
$2,245,600
T
Care
1205
7978200525
$0
City Center
4.4
$6,986,000
$0
X
Core
1205
7978200526
50
CIty Center
115
$14,949,700
$0
x
Cure
1202
8575NO010
$0
City Center
3.1
$21,559,700
$0
x
Frame
2202
8575000020
$0
City Center
1.8
$2,430,800
$0
x
Frame
1202
8665030000
$0
City Center
1.7
$0
$0
NA
Core
1202
8665030010
$0
City Center
$5,378,600
$0
x
Core
1202
866503002D
$0
City Center
$6,640,700
$0
x
Core
1202
866503003D
$0
City Center
$5,378,600
$0
x
Core
1202
9665030040
$0
City Center
$6,640,700
$0
x
Core
1202
8665W0050
$0
CIty Center
$5,379,600
$0
x
Core
1202
8665030060
$0
City Center
$6,640,700
$0
x
Core
1202
8665030070
$0
City Center
$5,378,500
$0
x
Core
1202
8665030080
$0
Clty Center
$6,640,700
$0
x
Core
1202
9665030090
$0
City Center
$5,378,600
$0
x
Core
1202
8665030100
$0
City Center
$6,640,700
$0
x
Core
Total
$176,500,000
210.4
$404,778,100
$195,961,300
NP
NP
GOV
GOV
Condo Parent
Parcel
NP
NP
NP
NP
NP
NP
NP
NP
NP
NP
Ordinance No. 24- Page 10 of 27
Exhibit B — Area Boundary Map
Ordinance No. 24- Page 11 of 27
Exhibit C —Project List
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Ordinance No. 24- Page 12 of 27
Exhibit D — State Treasurer's Letter
TAX INCREMENT FINANCING
PROJECT ANALYSIS REVIEW
CITY OF FEDERAL WAY
OCTOBER 12, 2023
OFFICE OF THE TREASURER
STATE OF WASHIN TON
Mike Pellicciotti
Ordinance No. 24- Page 13 of 27
OFFICE OF THE TREASURER
STATE OF WASHINGTON 0
Mike Petlicciotti
October 12, 2023
Steve Groom, Finance Director
City of Federal Way
33325 8th Avenue South
Federal Way, WA 98003
Dear Mr. Groom:
This letter confirms the Office of the State Treasurer's ("05T") receipt and review of the City of Federal
Way's (the "City") tax increment financing ("TIV) Project Analysis provided on July 19, 2023. OST and
Montague DeRose and Associates, the state's municipal advisor, have reviewed the provided material.
Based on our review, which is detailed in the sections to follow, we believe the City's Project Analysis
generally addresses the topics listed in section 020(2) of RCW 39.114 (the "TIF Statute").
Please note, this review is based on the information, projections, and assumptions provided by the City
and its consultants in the Project Analysis. 05T has not independently verified the data or its accuracy or
performed any feasibility analyses or projections of its own.
Executive Summary
Accordingto the City, its downtown area, or "City Center," does not currently present an identifiable sense
of an urban center. To improve this, the City is taking steps to transform its City Center into a walkable
downtown and destination for the community. The City built the Performing Arts & Entertainment Center
and the Town Square Park as initial cornerstone elements to the City Center. Additionally, a Sound Transit
light rail station is scheduled to open in 2026, which will allow residents, employees, and visitors greater
transit access to/from the City Center. The City's proposed tax increment area (the "TIA" ) will include 215
acres surrounding these three community improvements and will be generally bordered by 1-5 to the east,
South 312'h Street to the north, Highway 99 to the west, and South 3301" Street to the south.
The Project Analysis identifies a set of public improvement projects estimated to cost between $72 million
and $170 million in total (2023 dollars). The City plans to fund these projects directly with tax increment
revenues collected over time or in the near -term from the issuance of bonds to be repaid with tax
increment revenues. The City specifically identified two high -priority projects requiring funding early in
the life of the TIA in order to facilitate the Phase 1 development of a planned mixed -use development: a
civic plaza estimated to cost $6.0 million and a public parking garage estimated to cost $30.0 million.
Including the developer's contribution to the public improvements, the net funding requirement for these
two public improvements is equal to $30.8 million and would he partially financed from the City's issuance
of Limited Tax General Obligation Bonds in late 2024.
Legislative Building, P.O. Box 40200 Olympia, Washington 98504-0200
(360) 902-900D • TTY USERS: CALL 711 • FAX (360) 902-9037
www.tre.wa.go�
Ordinance No. 24- Page 14 of 27
PAGE 2 OF 14
OST's primary goal in our statutorily mandated review of the Project Analysis is to ensure that the Project
Analysis addresses the topics listed in the TIF statute and that risks to the City that might result from the
implementation of the project are adequately disclosed.
Our review of the Project Analysis found potential risks worth consideration. Most notably, after the
issuance of bonds, the City will be obligated to pay any deficiency between tax increment revenues and
debt service. The City anticipates issuing $29.6 million of tax-exempt bonds to finance the $30.8 million
of Public Improvements at a true interest cost of 4.67%. In the Baseline Development Scenario, the City
projects twelve years of annual deficiencies between tax increment revenues and debt service, averaging
$1.0 million per year, resulting in an accumulated deficit of $12.1 million by 2036. The City expects to
draw from general revenues and reserves to fund these annual shortfalls through 2036, and then
reimburse itself over nine years from 2037-2045, when annual tax increment revenues are projected to
exceed annual debt service.
Certain other factors, including the following, could negatively impact tax increment revenues, potentially
causingthem to be inadequate to fully reimburse the City for funds advanced to pay debt service on the
Bonds: (1) increases in the cost of the Public Improvements; (2) delayed or less than expected private
development within the TIA; (3) lower -than -expected future assessed values within the TIA; and, (4)
higher than expected borrowing cost for the bonds issued to finance the Public Improvements.
Because of the project's potential cost to the City's general fund, it is essential that decision makers
understand and accept the project's risks and potential long-term costs in comparison to its benefits.
Statutory Role and Purpose of Review
As enacted by the 2021 Washington State Legislature, section RCW 39.114.020(7)(h) requires that prior
to the adoption of an ordinance authorizing the creation of a TIA, the local government proposing the TIA
must provide a project analysis to OST for review. OST must complete the review within 90 days of receipt
of the project analysis. Upon completing the review, OST must promptly provide to the local government
any comments regarding suggested revisions or enhancements to the project analysis that OST deems
appropriate. OST received the City's Project Analysis (dated July 19, 2023) on July 19, 2023.
Ordinance No. 24- Page 15 of 27
Project Team
Jurisdiction:
City of Federal Way
Project Title:
City Center TIA
City of Federal Way:
Steve Groom, Finance Director
Proposed Tax Increment Area
PAGE 3 of 14
County:
King County
Development Areas:
The TIA boundary includes 215 acres and is
generally bordered by 1-5 to the east, South
312th Street to the north, Highway 99 to the
west, and South 330th Street to the south.
Consultants:
Tiberius Solutions LLC
Nick Popenuk, Principal
PFM Financial Advisors LLC
Duncan Brown, Director
Matt Schoenfeld, Sr. Managing Director
Foster Garvey PC
Bill Tonkin
Federal Way's TIA will include 215 acres and is generally bordered by 1-5 to the east, South 3121" Street to
the north, Highway 99 to the west, and South 330t" Street to the south. The City's downtown, or "City
Center," does not currently present an identifiable sense of an urban center. To improve this, the City is
taking steps to transform its City Center into a walkable downtown and destination for the community.
The City built the Performing Arts & Entertainment Center and the Town Square Park as initial cornerstone
elements aimed at defining the City Center neighborhood. A Sound Transit light rail station opening in
2026 will allow residents, employees, and visitors greater transit accessto/from the City Center. Figure 1
below shows the boundary map for the TIA.
Ordinance No. 24- Page 16 of 27
In tax year 2023, the 58 tax lots
within the TIA had total taxable
assessed value of approximately
$195.8 million, compared to a total
market value of $267.3 million. All
parcels in the TIA are zoned City
Center Core, City Center -Frame,
Community Business, or Multi -
Family Residential with respective
53%, 14%, 4% and 29% shares of the
total 215 acres. Of the $195.8 million
of total taxable assessed value, 62%
is from the City Center Core parcels,
15% is from the City Center -Frame
parcels, 2% is from the Community
Business parcels and 21% from the
Multi -Family Residential parcel.
Figure i — Map of the City Center TIA
PAGE 4 OF 14
There are 17 taxing districts whose
property tax levy would be directly
impacted by TIA. These districts are:
(1) County -wide regular levy (non- —
voted), (2) AFIS (Fingerprint ID) Lid
Lift, (3) Parks Lid Lift, (4) Human i
_ r
Srvs/Vets Lid Lift, (5)
Children/Family Justice Ctr. Lid Lift, j
(6) Best Start for Kids Lid Lift, (7)
Radio Communications Lid Lift, (8) %
j R
County -wide Transport levy, (9)
County Cons. Futures, (10) County Source: City of Federal Way
Flood Zone, (11) County Ferry
District, (12) Port General Fund, (13) EMS (voted), (14) Sound Transit, (15) City General Fund, (16) Library
General Fund and (17) Fire 39 General Fund. The levy rate for each of these jurisdictions will be applied
to the increased assessed valuation within the TIA and remitted to the City to pay debt service on the
bonds.
Project Description
Public Improvements within the TIA
The Project Analysis identifies numerous public improvement projects related to public parking,
recreation, mobility, community building, public safety, and placemaking which are estimated to cost
between $72 million and $170 million in total (2023 dollars). The City plans to fund these projects directly
with tax increment revenues collected over time or in the near -term from the issuance of bonds to be
repaid with tax increment revenues.
The City specifically identified a civic plaza estimated to cost $6.0 million and a public parking garage
estimated to cost $30.0 million as two high -priority projects requiring funding early in the life of the TIA
Ordinance No. 24- Page 17 of 27
PAGE 5 OF 14
to facilitate the Phase 1 development of the One Trent project (an apartment and condominium
development).. The City's Project Analysis assumes One Trent will pay the City $10.0 million to acquire
the City -owned Town Center property located within the TIA, with $4.8 million of the $10.0 million being
used to repay an interfund loan on the property. The net funding requirement for these two public
improvements of $30.8 million would be financed from the City's issuance of Bonds in late 2024.
Private Development within the TIA
There are currently no projects in the TIA under construction or with approved permits for construction.
The City -owned property within the boundary is anticipated to be the site best situated for new private
construction. The City is negotiating an agreement with One Trent, a Seattle -based real estate developer,
forthe execution of four -phase development project on 10.6 acres of the TIA to construct apartments and
condominiums with an expected taxable assessed value of $472.5 million in 2023 dollars and $923.7
million in nominal dollars. Table 1, as prepared by the City, shows the expected phasing of the One Trent
Development Plan from 2027 through 2032. The
City's tax increment revenue projections anticipate that One Trent will apply for the City's Multifamily Tax
Exemption (MFTE) exempting new construction projects located in designated areas with at least 16
multifamily units from property taxes for an eight -year period. For phases 1, 2, and 3 of the development,
over 95% of total taxable value is assumed to be eligible for the MFTE exemption, with phase 4 assumed
to be not MFTE eligible.
Table 1— One Trent Development Plan (in $ 2023)
Taxable Value of
Development
Completion
Development
MFTE-Eligible
Non MFTE-
Phase
Type
Year
(2023 $)
Value
Eligible Value
Phase 1
Apartments
2027
$ 179,827,337
$ 172,312,858
$ 7,514,479
Phase 2
Apartments
2028
$ 110,900,540
$ 107,920,895
$ 2,979,645
Phase 3
Apartments
2030
$ 118,393,420
$ 115,507,471
$ 2,885,949
Phase4
Condos
2032
$ 63,355,171
$ -
$ 63,355,171
Total $ 472,476,468 $ 395,741,224 $ 76,735,244
Source: City of Federal Woy
A market analysis identified speculative development opportunities for properties located in the TIA but
not associated with One Trent. These potential developments are expected to occur in the TIA after
construction begins on One Trent and the bond -financed civic plaza and public parking garage. Of the 9.4
million square feet of potentially developable properties in the TIA, the market analysis estimated 17%
would experience new development over the 25-year forecast period, resulting in a total of 5,300 new
housing units with $1.6 billion in speculative new taxable assessed value (2023 dollars). The analysis
assumed that 80% of new value would be multifamily properties, with 100% of this value eligible for the
8-year MFTE, reducing the taxable assessed value from $1.6 billion to $1.2 billion. Table 2, as prepared by
the City, forecasts the baseline scenario of private development projected to occur in the TIA both from
One Trent and speculative development.
Ordinance No. 24- Page 18 of 27
PAGE 6 OF 14
Table 2 — Projected Increased Real Property in the TIA (in $ 2023`
Baseline Development Scenario
Year on OneTrent Speculative
Tax Rolll Development Development
2028
$
-
$ 14,819,826
2029
$
7,514,479
$ 14,819,826
2030
$
2,979,645
$ 14,819,826
2031
$
-
$ 14,819,826
2032
$
2,885,949
$ 14,819,826
2033
$
-
$ 14,819,826
2034
$
63,355,171
$ 14,819,826
2035
$
-
$ 14,819,826
2036
$
-
$ 74,099,129
2037
$
172,312,858
$ 74,099,129
2038
$
107,920,895
$ 74,099,129
2039
$
-
$ 74,099,129
2040
$
115,507,471
$ 74,099,129
2041
$
-
$ 74,099,129
2042
$
$ 74,099,129
2043
$
$ 74,099,129
2044
$
$ 74,099,129
2045
$
$ 74,099,129
2046
$
$ 74,099,129
2047
$
$ 74,099,129
2048
$
$ 74,099,129
2049
$
$ 74,099,129
Total
$
472,476,468
$ 1,155,946,409
Source: City of Federci Way
In its Project Analysis, the City prepared an Alternate Development Scenario which retains the anticipated
taxable value of the One Trent project but excludes all speculative development. In the Alternate
Development Scenario, the City issues bonds only to finance the $6.0 million cost of the civic plaza, not
the $24.9 million cost of the public parking garage, as existing surface parking capacity is deemed
adequate to support the One Trent development.
Assessed Value of the TIA
The assessed valuation of the TIA for the 2023 tax year is approximately $195.8 million, below both
statutory limits of $200 million in assessed valuation and 20% of the City's total assessed valuation of
$17.3 billion ($3.5 billion). The TIA's 2023 assessed value represents 1.1% of the City's total assessed
valuation.
The magnitude and timing of real property development in the TIA will drive growth in incremental
assessed value and therefore tax increment revenues. For the two development scenarios provided by
the City, the incremental taxable assessed value of the TIA is estimated by assigning market -based
improvement prices reflecting the land use, size of the proposed development and the City's Multifamily
Tax Exemption. The City assumed the TIA base value and the assessed values of newly developed
properties both increase by 5.1% annually. This assumption uses long-term historical trends for per -capita
personal income growth for King County as the basis for forecasting appreciation of existing assessed
Ordinance No. 24- Page 19 of 27
PAGE 7 OF 14
values and employs forecasts of population growth as the basis for projecting the increase in assessed
value from new construction.
Tax Increment Revenue Projections
The TIA is expected to take effect on June 1, 2024, and 2025 will be the first year that the TIA will receive
tax increment revenues. The term of the TIA is assumed at 25 years (the maximum allowed) with 2049 as
the final year the TIA will receive tax increment revenues. The City estimated the 2024 tax increment base
assessed value at $205.8 million and prepared the Baseline Development Scenario with $6.2 billion of
additional assessed value added to the TIA between 2025 and 2049 through new construction and
appreciation. Under the Baseline Development Scenario, $68.9 million of tax increment revenues are
projected to be collected over the 25-year term of the TIA. See Table 3 — Tax Allocation Revenues of the
TIA (Baseline Development Scenario).
Table 3 —Tax Allocation Revenues of the TIA (Nominal $j
Baseline Development Scenario
Tax
Assessed Value
Tax Allocation
Year
Total
Base Value
Increment
Levy Rate
Revenues
2023
$ 195,802,900
$ -
$
$
$
2024
$ 205,788,848
$205,788,848
$
$
$
-
2025
$ 216,284,079
$205,788,848
$ 10,495,231
$ 3.290400
$
34,533
2026
$ 227,314,567
$205,788,848
$ 21,525,719
$ 3.012200
$
64,839
2027
$ 238,904610
$205,188,849
$ 33,118,762
$ 2.895700
$
95,901
2028
$ 269,174,210
$205,788,848
$ 63,385,362
$ 2.651100
$
168,039
2029
$ 311,542,953
$205,788,848
$ 105,754,105
$ 2.548600
$
269,522
2030
$ 351,421,265
$205,788,848
$ 145,632,417
$ 2.450100
$
356,808
2031
$ 390,336,150
$205,788,848
$ 184,547,302
$ 2.355300
$
434,672
2032
$ 436,602,762
$205,788,848
$ 230,813,914
$ 2.264200
$
522,608
2033
$ 482,057,730
$205,788,849
$ 276,268,882
$ 2.176600
$
601,321
2034
$ 635,199,468
$205,788,848
$ 429,410,620
$ 2,092300
$
898,476
2035
$ 693,208,380
$205,788,848
$ 487,419,532
$ 2.011500
$
980,454
2036
$ 863,162,204
$205,788,848
$ 657,373,356
$ 1.933700
$
1,271,146
2037
$ 1,377,615,782
$205,788,848
$ 1,171,826,934
$ 1.859000
$
2,178,386
2038
$ 1,813,096,405
$205,788,848
$ 1,607,307,557
$ 1.787500
$
2,873,039
2039
$ 2,061,826,488
$2.05,788,849
$ 1,856,037,640
$ 1,718600
$
3,189,718
2040
$ 2,587,219,174
$205,788,848
$ 2,381,430,326
$ 1.652100
$
3,934,363
2041
$ 2,991,774,698
$205,788,848
$ 2,685,985,850
$ 1.589400
$
4,266,440
2042
$ 3,220,665,528
$205,788,848
$ 3,014,876,680
$ 1.527000
$
4,603,647
2043
$ 3,575,581,717
$205,788,848
$ 3,369,792,869
$ 1.467900
$
4,946,590
2044
$ 3,958,322,406
$205,788,848
$ 3,752,533,558
$ 1.411100
$
5,295,382
2045
$ 4,370,802,557
$205,788,848
$ 4,165,013,709
$ 1.356600
$
5,650,136
2046
$ 4,815,060,087
$205,788,848
$ 4,609,271,239
$ 1.304100
$
6,010,966
2047
$ 5,293,263,427
$205,788,849
$ 5,087,474,579
$ 1.253700
$
6,377,987
2048
$ 5,807,719,537
$205,788,848
$ 5,601,930,689
$ 1.205200
$
6,751,314
2049
$ 6,360,882,392
$205,788,848
$ 6,155,093,544
$ 1.158500
$
7,130,790
Total
$
68,907,079
Source: City of Federal Woy
As noted above, the City prepared an Alternate Development Scenario which retains the anticipated
taxable value of the One Trent development but excludes all speculative development. With the Alternate
Ordinance No. 24- Page 20 of 27
PAGE 8 of 14
Development Scenario, $2.2 billion of assessed value is added to the TIA between 2025 and 2049 through
new construction and appreciation. Under the Alternate Development Scenario, $30.9 million of tax
increment revenues are projected to be collected over the TlAterm. See Table 4 —Tax Allocation Revenues
of the TIA (Alternate Development Scenario).
Table 4—Tax Allocation Revenues of the TIA (Nominal $)
Alternate Development Scenario
Tax
Assessed Value
Tax Allocation
Year
Total
Base Value
Increment
Levy Rate
Revenues
2023
$ 195,802,900
$ 3.730590
$
2024
$ 205,788,848
$205,788,848
$ 3.487226
$ -
2025
$ 216,284,079
$205,788,848
$ 10,495,231
$ 3.290391
$ 34,533
2026
$ 227,314,567
$ 205,788,848
$ 21,525,719
$ 3.012184
$ 64,839
2027
$ 238,907,610
$205,788,848
$ 33,118,762
$ 2.895675
$ 95,901
2028
$ 251,091,898
$205,788,848
$ 45,303,050
$ 2.651069
$ 120,1D2
2029
$ 273,533,933
$205,788,848
$ 67,745,085
$ 2.548528
$ 172,650
2030
$ 291,500,045
$205,788,848
$ 85,711,197
$ 2A49975
$ 209,990
2031
$ 306,366,547
$205,788,848
$ 100,577,699
$ 2.355220
$ 236,883
2032
$ 326,287,697
$205,788,848
$ 120,498,849
$ 2.264036
$ 272,814
2033
$ 342,928,370
$205,788,848
$ 137,139,522
$ 2.176389
$ 298,469
2034
$ 464,603,684
$20.5,788,848
$ 258,814,836
$ 2.092129
$ 541,474
2035
$ 488,298,472
$205,788,848
$ 282,509,624
$ 2.011276
$ 568,205
2036
$ 513,201,694
$ 205,788,848
$ 307,412,846
$ 1.933408
$ 594,354
2037
$ 868,342,479
$205,788,848
$ 662,553,631
$ 1.858555
$ 1,231,392
2038
$1,129,170,653
$205,788,848
$ 923,381,805
$ 1.786943
$ 1,650,030
2039
$1,186,758,356
$205,788,848
$ 980,969,508
$ 1.717900
$ 1,685,2D7
2040
$1,503,291,030
$205,788,848
$1,297,502,182
$ 1.651328
$ 2,142,601
2041
$1,579,958,873
$205,788,848
$1,374,170,025
$ 1.587535
$ 2,181,543
2042
$1,660,536,776
$20.5,788,848
$1,454,747,928
$ 1.526015
$ 2,219,967
2043
$1,745,224,151
$205,788,848
$1,539,435,303
$ 1.466879
$ 2,258,165
2044
$1,834,230,583
$205,788,848
$1,628,441,735
$ IA10034
$ 2,296,158
2045
$1,927,776,343
$205,788,848
$1,721,987,495
$ 1.355392
$ 2,333,968
2046
$2,026,092,936
$205,788,848
$1,820,304,088
$ 1.302868
$ 2,371,615
2047
$2,129,423,675
$205,788,848
$1,923,634,827
$ 1.252379
$ 2,409,119
2048
$ 2,238,024,283
$ 205y788,848
$ 2,032,235,435
$ 1.2D3846
$ 2,446,499
2049
$ 2,352,163,521
$ 205,788,848
$ 2,146,374,673
$ 1.157151
$ 2,483,679
Total
$ 30,920,161
Source: City of Federal Way
Under the TIF Statute, only certain regular tax levies are available to the TIA_ The taxes applied with regular
levies must conform with the constitutional 1% limit as well as the $5.90 aggregate limits_ Both parts of
the State School levy, local school district excess levies, voted bond levies, and levies of port districts for
bond payments are excluded from the TIA levy rate. The TIA's annual levy rate may change from one year
to the next based on factors includingfuture incremental assessed value of the TIA, future assessed values
of the taxing districts, and relevant levy limits. For the two development scenarios, the City's analysis
calculated the levy rate for each of these jurisdictions and applied the levy rates to the incremental
assessed valuation within the TIA.
The City created a multi -year cash flow model to estimate the annual tax increment revenues for the two
development scenarios; Figure 2 below provides a visual comparison. Collection of tax increment
Ordinance No. 24- Page 21 of 27
PAGE 9 OF 14
revenues is projected for the 2025-2049 period, with total revenues for the Baseline Development and
Alternate Development scenarios at $68.9 million and $30.9 million, respectively. The total tax increment
revenues of the Alternate Development Scenario are equivalent to 45% of the total for the Baseline
Development Scenario.
8,000
Figure 2 — Projected Tax Increment Revenues
Baseline and Alternate Development Scenarios
■has Na Develop—.t Sc anon. ■Alternate D—d.p.—t Scenario
7,000
6,000
5,000
4,000
3,000
2,000
1,000
2023 2026 2027 2071 2029 2030 2931 2032 W33 2034 2039 2036 2037 2039 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049
Source: City of Federal Way
Financing Plan for Public Improvements
As stated in the Project Analysis, because of their general obligation pledge, the City will be required to
pay the full debt service due on the Bonds from available resources, regardless of the amount of tax
increment revenues generated within the TIA. The City acknowledged that tax increment revenues early
in the life of the TIA are projected to be insufficient to fully cover debt service payments in both
development scenarios.
In the Baseline Development Scenario, the City anticipates issuing $29.6 million of tax-exempt bonds in
December 2024 to finance the $30.8 million of Public Improvements. The City's structure for the bonds
assumes interest rates as of July 12, 2023, plus a 0.50% cushion, resulting in a true interest cost of 4.67%.
In this scenario, total principal and interest is projected to be $62.0 million. The City plans to structure its
bonds with interest -only payments from 2025 through 2039 to better align debt service payments with
anticipated tax increment revenues, and to minimize the amount of general fund resources that the City
will need to use to pay debt service in full each year. From 2040 through 2049, annual debt service
payments are projected to escalate from $2.4 million to $5.6 million.
In the Baseline Development Scenario, the City projects twelve years of annual deficiencies between tax
increment revenues and debt service, averaging $1.0 million per year, resulting in an accumulated deficit
Ordinance No. 24- Page 22 of 27
PAGE 10 OF 14
of $12.1 million by 2036. The City expects to draw from general revenues and reserves to fund these
annual shortfalls through 2036, then reimburse itself over nine years from 2037-2045, when annual tax
increment revenues are projected to exceed annual debt service by $6.9 million. The City indicated it may
apply the $6.9 million surplus to fund additional public improvement projects within the TIA.
Regarding the City's projected annual shortages between tax increment revenues and debt service costs,
the Project Analysis notes: (1) the City maintains reserve fund balances in 14 funds in addition to its
general fund; (2) the City's current fund balance policy requires transferring the subsequent year's debt
service payment into the debt service fund during the current year; and (3) the City has a separate
Strategic Reserve Fund of $3 million to accommodate unexpected operational changes, legislative
impacts, or other economic events affecting the City's operations which could not have been reasonably
anticipated at the time of budget preparation.
In the Alternate Development Scenario, the City reduces its bond issuance to $6.0 million to finance the
cost of the civic plaza (roughly 19.5% of the $30.8 million), excluding the $24.8 million cost of the public
parking garage. This approach would allow the City to retain flexibility to adjust the amount of debt to
better reflect the amount of actual development during the first few years of the TIA. In our cash flow
analysis, we applied the 19.5% share to the Baseline Development Scenario's $62.0 million in total debt
service, maintaining the same amortization structure as the larger bond issue. The total amount of
principal and interest due under this scenario totals $12.1 million to finance the $6.0 million in civic plaza
improvements.
In the Alternate Development Scenario, the City projects eight years of insufficient tax increment revenues
compared to debt service, averaging $138,000 per year, resulting in an accumulated deficit of $1.1 million
by 2032. The City expects to cover these annual shortfalls with City general revenues and reserves through
2032, then reimburse itself over five years from 2033-2037 as total tax increment revenues are projected
to exceed total debt service by $18.8 million.
Ordinance No. 24- Page 23 of 27
PAGE 11 OF 14
Debt Capacity
Based on the City's total 2023 assessed value of $17,270,222,086, the City has $259,053,331 in total non -
voted debt capacity (1.5% of 2023 AV). The City currently has $27,983,000 in outstanding non -voted debt,
leaving sufficient non -voted debt capacity of $231,070,331 before issuing the $29,630,000 of bonds
described in the Baseline Development Scenario in December 2024. See Table 5 — Debt Capacity in 2023.
Table 5 — Debt Capacity in 2023
2023 Assessed Valuation $17,270,222,086
Non -Voted Debt Capacity (1.5% of AV) 259,053,331
Less: Outstanding Non -Voted Debt (27,983,000)
Remaining Non -Voted Debt Capacity 231,070,331
Less: Financing Proposed (29,630,000)
Projected Remaining Nan -Voted Capacity $201,440,331
Projected Remaining Non -Voted Capacity% 77.89/0
Source: City of Federal Way
Projected Debt Service Coverage
Tables 6 and 7 below summarize the total tax increment revenues, revenue shortfalls and debt service
coverage for the two development scenarios.
In the Baseline Development Scenario, the City would be required to fund a portion of the annual
debt service payments from general revenues or reserves due to insufficient tax increment
revenue from 2025 through 2036. Full reimbursement of the $12.1 million cumulative shortfall is
projected by 2045.
• In the Alternate Development Scenario, the City would be required to fund a portion of the annual
debt service payments from 2025 through 2032, with a cumulative shortfall of $1.1 million, and
full reimbursement anticipated by 2037.
Ordinance No. 24- Page 24 of 27
PAGE 12 of 14
Table 6 — Summary of Tax Increment Revenue Shortfalls and Average Debt Service Coverage
First Year Tax
Year That Tax
Total Projected
Total Projected
Projected
Total Surplus/
Aggregate
Development
Increment Revenues
Increment Revenues
Tax Increment
Debt Service
Cumulative
(Shortfall)
Debt Service
Scenario
Exceed TIF Debt
Fully Reimburse Debt
Revenue
($MMs}
Shortfall
($MMs}
Coverage Ratio
Service
Service Shortfalls
($MMS)'
($MMS)
Baseline
2037
2045
$68.907
$62.016
($12.080)
$6.892
1.11x
Alternate
2033
2037
$30.920
$12.081
($1.101)
$18.839
2.56x
1. Projected over the term of repayment of the Bonds, 2025-2049
Table 7 — Annual Tax Increment Revenue Shortfalls and Average Debt Service Coverage
Year
Tax
Increment
Revenues
0
Baseline Development
Debt
Service on
Bonds (Shortfall)
0
Scenario
Surplus
(Shortfall)
0
($Ms)
Cumlartive
Surplus
0
D-
Service
Coverage
--
Increment
Revenues
0
Alternate Development
D-
Service on
Bonds (Shortfall)
0
Scenario
Surplus
(Shortfall)
0
($Ms)
Surplus
0
Debt
Service
Coverage
—
2024
2025
35
1,482
(1,447)
(1,447)
0.02x
35
289
(254)
(254)
0.12x
2026
65
1,482
(1,417)
(2,864)
_
0.04x
65
289
(224)
(478)
0.22x
2027
96
1,492
(1,386)
(4,249)
0.n6x
96
289
(193)
(671)
0.33x
2028
168
1,482
(1,313)
(5,563)
0.11x
120
289
(169)
(839)
0.42x
2029
270
1,4S2
(1,212)
(6,775)
0.18x
173
289
(116)
(955)
0.60x
2030
357
1,4S2
(1,125)
(7,899)
0.24x
210
289
(79)
(1,024)
0.73x
2031
435
1,482
(1,047)
(8,946)
0.29x
237
289
(52)
(1,085)
0.82x
2032
S23
1,482
(959)
(9,905)
0.35x
273
289
(16)
(1,101)
0.95x
2033
601
1,4S2
(880)
(10,785)
0.41x
298
289
10
(1,091)
1.03x
2034
898
1,482
(583)
(11,368)
0.61x
541
289
253
(838)
1.88x
2035
980
1,482
(501)
(11,869)
0.66x
568
289
280
(559)
1.97x
2036
1,271
1,4S2
(210)
(12,080)
0.86x
594
289
306
(253)
2.06x
2037
2,178
1,4S2
697
(11,383)
1.47x
1,231
289
943
690
4.27x
203S
2,873
1,4S2
1,392
(9,991)
1.94x
1,650
289
1,361
2,051
S.72x
2039
3,190
1,482
1,708
(8,283)
2.1Sx
1,68S
289
1,397
3,448
S.84x
2040
3,934
2,417
1,518
(6,765)
1.63x
2,143
471
1,672
5,120
4.55x
2041
4,266
2,750
1,517
(5,248)
1.55x
2,182
S36
1,646
6,766
4.07x
2042
4,604
3,089
1,51S
(3,734)
1.49x
2,220
602
1,618
8,384
3.69x
2043
4,947
3,428
1,519
(2,215)
1.44x
2,258
668
1,590
9,974
3.38x
2044
5,295
3,781
1,51S
(701)
1.40x
2,296
737
1,560
11,534
3.12x
2045
5,650
4,131
1,520
819
1.37x
2,334
805
1,529
13,063
2.90x
2046
6,011
4,491
1,520
2,339
1.34x
2,172
975
1,497
14,560
2.71x
2047
6,378
4,861
1,517
3,955
1.31x
2,409
947
1,462
16,022
2.54x
204E
6,751
5,234
1,518
5,373
1.29x
2,446
1,020
1,427
17,449
2.40x
2049
7,131
5,612
1,519
6,992
1.27x
2,484
1,093
1,390
18,939
2.27x
Total
68,907
62,016
6,892
30,920
12,081
18,839
PAGE 13 OF 14
Key Risks to the City
From our review of the Project Analysis, it appears that the anticipated Public Improvements and
economic development will provide significant benefit to the City. Nonetheless, the financial plan comes
with certain risks and costs to the City, primarily related to the projected annual tax increment revenues
being insufficient to fully pay the debt service due on the bonds the City plans to issue to finance a portion
of the Public Improvements, especially in the early years of the project.
During years with revenue shortfalls, the City will be required to pay any difference between the debt
service due and tax increment revenues collected using general City resources. While the City plans to
reimburse itself for debt service payments made from general City revenues and reserves, it is important
for decision makers to be aware of the potential magnitude and timing of such payments and
reimbursements. Since the TIF legislation limits the ability to collect tax increment revenues to a period
of not more than 25 years, delays could reduce the City's ability to fully reimburse itself from tax
increment revenues. Additional factorsthat could impactthe amountof tax increment revenues collected
are described below:
Escalation of Project Costs: With the Public Improvements projected to he completed over a number
of years, inflation could have a significant impact on the final cost. The City did not disclose if a
construction cost inflatorwas included in its cost range for the Public Improvements.
Economic Conditions: Growth in the TIA's assessed value could be negatively impacted by a downturn
in the economy. A variety of economic factors could negatively impact the timeline and ultimate
demand for development, jeopardizing the rate and scale of private development, potentially
reducing tax increment revenues.
Permits: Unforeseen delays in permits could negatively impact the construction of private
developments within the TIA. Such delays could negatively impact the timing and/or amount of tax
increment revenues generated by the TIA.
Construction Delays: Any delay in the construction timelines of the private development projects
could reduce the amount of tax increment revenues produced by the TIA. Similarly, any delay bythe
City in completing the planned Public Improvements could delay private developers' abilities to
complete their private developments, potentially reducing the amount of tax increment revenues.
Assessed Valuations: As private developments are completed, tax increment revenues may be lower
than projected if the assessed values of the projects are lower than expected or take more time to be
reflected on the county's tax rolls than expected.
Interest Rate Risk: The City is exposed to interest rate risk until its bonds are sold. The Project Analysis
assumes interest rates as of July 12 plus a 0.50% cushion, resulting in a true interest cost of 4.67%.
However, between July 12 and September 25, tax-exempt interest rates rose by an average of 0.60%
in the 2025-2049 maturity range expected for repayment of the bonds. The current borrowing cost
for the bonds is higher than the 4.67% true interest cost assumed in the Project Analysis.
Risk Summary: The general impact to the City from any of the risk factors outlined above could be lower
than projected tax increment revenues and a greater than expected reliance on the City's general
revenues and reserves to pay the debt service due on the bonds issued to fund the Public Improvements
in the TIA. If tax increment revenues are lower than expected, it will force the City to apply more of its
available funds towards repayment of the bonds, reducing the City's ability to allocate those funds to
other projects or operations.
Ordinance No. 24- Page 26 of 27
PAGE 14 of 14
Recommendations
To help ensure the financial success of the project and to minimize unanticipated costs, we recommend
the City consider the following measures:
1. Prior to approving the TIA, we recommend that the City discuss and establish a policy regarding
how much debt service it is willing to pay from City general revenues and reserves on an annual
basis to offset years of tax increment revenue shortfalls.
2. We recommend that the City conservatively budget for and set funds aside to cover any projected
tax increment revenue shortfalls.
3. Prior to approving the TIA, we recommend that the City coordinate closely with other taxing
districts impacted by the project, and the County Assessor's Office, to ensure that all parties have
an accurate understanding of how the TIA will impact them, and to provide sufficient time to work
through any concerns.
4. As the project moves forward, we recommend that the City coordinate closely with the County
Assessor's Office to help ensure that the tax increment revenue projections match the County's
assessment process and are as accurate as possible.
S. The City's interest rate assumptions for its planned 2024 Bond issuance are below current tax-
exempt interest rates. We recommend that the City consider using more conservative interest
rate assumptions.
5. We recommend the City revisit public improvement cost projections frequently and utilize a
publicly recognized inflation index to inform inflation projections.
Thank you for the opportunity to review the City's Project Analysis. Based upon the information provided
to date in connection with this project, this concludes our review. If there are material changes in the
scope, timing, or cost of the project, please let us know. We wish the City all the best with the project.
Respectfully,
Mike Pellicciotti
Washington State Treasurer
Jason Richter
Deputy Treasurer
Ordinance No. 24- Page 27 of 27