FEDRAC MINS 07-26-2005 A-1
City of Federal Way
City Council
Finance/Economic Development/Regional Affairs Committee
Tuesday, July 26, 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
Staff Members in Attendance: Iwen Wang, Management Services Director; David Moseley, City Manager; Derek
Matheson, Assistant City Manager; Pat Richardson, City Attorney; Mark Turley, Senior Financial Analyst; Jason
Suzaka, Deputy City Clerk/Management Analyst.
Others in Attendance: Erica Hall, Federal Way Mirror
1. CALL TO ORDER
Acting Chair Jeanne Burbidge called the meeting to order at 5:35 p.m. Chair Faison was unable to attend
the meeting due to a prior commitment and was excused.
2. PUBLIC COMMENT
None.
3. COMMITTEE BUSINESS
a) Approval of the June 28, 2005 meeting minutes
Motion to approve the June 28, 2005 meeting minutes. Motion seconded and carried.
b) Congressional and Legislative Affairs Update
Presented by Derek Matheson
Mr. Matheson and Doug Levy (the city lobbyist) are working on the upcoming legislative agenda.
This year’s agenda will be a shorter version, focusing on issues that are likely to arise during the
upcoming legislative session.
Mr. Matheson and Mr. Moseley met with Rep. Jim McIntyre (chair of House Finance Committee).
Rep. McIntyre is not likely to help with property tax rate stabilization; however, he indicated he
was willing to help with annexation and transitional financing, which are issues of importance to
the Association of Washington Cities. They also discussed the concept of replacing impact and
mitigation fees with real estate excise tax money, which was brought forth near the end of the last
legislative session.
Federal Issues: The Federal Transportation Act Reauthorization (TEA-LU) is back in conference
committee. The new issue is the guaranteed return that each state gets back, since some states are
contributing more in tax revenue than they are receiving back for projects. Federal Way has
requested $10 million for the triangle project and $3 million each for the city center access study
K:\FEDRAC\2005\0726\072605 Minutes.doc A-2
and S. 348th HOV lanes projects. City officials are working with our senators to try and increase
the $2 million Rep. Adam Smith put in for the triangle project.
CDBG is in the same bill as transportation and is still in conference committee.
c) New City Hall Report
Presented by Derek Matheson
Mr. Matheson updated the committee on the new city hall and evidence building projects.
The dedication of the Officer Patrick Maher memorial is scheduled for August 2nd at 10:00am in
front of city hall.
d) June 2005 Monthly Financial Report
Presented by Mark Turley
Mr. Turley reviewed the financial report with the committee. Operating revenues are $2.09
million above expenditures. Revenues are $1.55 million, or 8.9 % above year to date budget; due
mostly to permit related projects and sales tax influx from construction project. Expenditures are
$448,000, or 2.7% below YTD budget.
Compared to two years ago, revenues had been lagging. Staff reminded the committee that the
additional revenues are due mainly to an unusually large amount of real estate and permits from
construction projects. These are predominantly cyclical in nature, and should not be relied upon
for long-term economic planning. The permits were largely due to three large projects: Christian
Faith Center, OPUS project (Federal Way Crossings), and Federal Way Marketplace.
Motion to accept the June 2005 Monthly Financial Report and forward to full Council for
approval.
e) Vouchers
Presented by Mark Turley
Mr. Turley presented the vouchers to the committee.
Motion to accept the vouchers and forward to full Council for approval.
4. OTHER
None.
5. FUTURE AGENDA ITEMS
Staff indicated that there will be a Wi-Fi project update at the August 23rd FEDRAC meeting. A discussion
of potential funding for a downtown redevelopment fund will take place at the August 9th FEDRAC
meeting.
6. NEXT SCHEDULED MEETING
August 23, 2005 at 5:30 p.m. in the Hylebos Conference Room.
7. ADJOURN
Acting Chair Jeanne Burbidge adjourned the meeting at 5:55pm.
Recorded by Jason Suzaka