FEDRAC MINS 01-11-2005 A-1
City of Federal Way
City Council
Finance/Economic Development/Regional Affairs Committee
Tuesday, January 11, 2005
5:30 p.m.
City Hall
Hylebos Conference Room
MINUTES
Committee Members in Attendance: Chair Eric Faison, Member Jeanne Burbidge, and Member Jim Ferrell.
City Council Members in Attendance: Deputy Mayor Linda Kochmar and Councilmember Jack Dovey.
Staff Members in Attendance: Iwen Wang, Management Services Director; David Moseley, City Manager; Pat
Richardson, City Attorney; Patrick Doherty, Director of Economic Development; Jason Suzaka, Deputy City
Clerk/Management Analyst.
Others in Attendance: Erica Hall, Federal Way Mirror.
1. CALL TO ORDER
Chair Eric Faison called the meeting to order at 5:37 p.m.
2. PUBLIC COMMENT
None.
3. COMMITTEE BUSINESS
a) Approval of the December 14, 2004 meeting minutes
Motion to approve the December 14, 2004 meeting minutes. Motion seconded and carried.
b) South 320th Library – Future Location
Mr. Doherty reported that staff had a couple meetings last month with Sound Transit (ST) officials
on the TOD (Transit-Oriented Development), most notably the eastside portion, which is the larger
portion.
Staff approached ST about their interest in the library locating on the property as a potential
ground floor tenant in a mixed-use type of development. ST seemed to be very receptive to the
idea. There are some examples of this occurring, such as the Delridge Library in West Seattle.
The Library is also interested in the concept; and is interested in talking more about it. Some of
the issues involved include shared parking with other tenants, housing, and new “customers” to the
library.
King County’s plan in their budget is to eventually tear down the S. 320th Library and rebuild it. It
was thought that the Library could potentially get a good deal from Sound Transit by moving into
the development, due to its status as a public entity.
G:\FEDRAC\FINCOMMT\2005\0111\011105 Minutes.doc A-2
The next “step” is for the City to keep assisting/encouraging the process by keeping both parties
talking. The City would need to remain pro-active in selling the idea to the two sides (e.g. meet
with boardmembers, KCLS director, etc).
Staff will keep the Council updated as the issue progresses.
c) Public/Private Partnership Recap
The purpose of the discussion is the address some concerns on the Council about what to do next
with the market study. It is thought that there are three main scenarios of the study: 1) Federal
Way has a market for a lifestyle retail center; 2) A need for some sort of public investment to
encourage a market; and 3) There is no market.
One suggestion was to be pro-active and meet with downtown property owners and gauge their
interest in some form of private/public partnership in creating/realizing a vision of downtown
Federal Way as set in the City’s comprehensive plan. Council was reminded that along with the
market study, Leland will provide a strategy to achieve that vision, based on the study’s results.
Chair Faison gave a brief demonstration of financing, using the City of Kent’s lifestyle/retail
project as an example of how much (if any) public financing could/should be used in a
private/public partnership, and how the public can eventually get a return on the investment
through increased tax revenues from the project.
There was a question about feedback from the Chamber of Commerce on the idea of a
public/private partnership. Mr. Doherty reported that the Chamber is inviting Leland to talk to the
Chamber at a future luncheon, so there is some interest in what the City is doing.
4. OTHER
None.
5. FUTURE AGENDA ITEMS
6. NEXT SCHEDULED MEETING
February 8, 2005 at 5:30 p.m. in the Hylebos Conference Room.
7. ADJOURN
Chair Eric Faison adjourned the meeting at 6:31pm.
Recorded by Jason Suzaka