FEDRAC PKT 07-09-2018 - Special CITY OF
t. Federal Way
SPECIAL
FINANCE/ECONOMIC DEVELOPMENT/REGIONAL AFFAIRS COMMITTEE
[FEDRACI
Monday—July 9,2018 FEDERAL WAY CITY HALL
5:00 P.M. AGENDA HYLEBos ROOM
1. CALL TO ORDER
2. COMMITTEE BUSINESS:
A. REVENUE SUSTAINABILITY DISCUSSION
B. CURRENT DEBT COMMITMENTS DISCUSSION
NEXT SPECIAL MEETING: August 13, 2018@ 5:00 City Staff.
Dini Duclos, Chair Ade Ariwoola, Finance Director
Hoang Tran Robyn Buck,Administrative Assistant
Lydia Assefa-Dawson 253-835-2527
CURRENT OUTSTANDING DEBT OBLIGATIONS
Original Annual Current Maturity
Amount Payment Balance Date
SCORE (2019) $15.52m $895,307.92 $13.31m 2039
*Interfund
$8,139,357 $2,713,119
Loan
FWCC $12.42m $813,473 2033
Target
Property $6.Om $322,647.17 $4.86m 2022
**HUD $2.9m $193,000 2.8% 2035
*Hotel Land $2.3m $767,000 $2.3m
*Unless refunded, the original amount should be paid off in 3 years. If refinance,
the annual payment will still be paid by General Fund or REET.
**Currently paid with HUD allocation, but if allocation is reduced or HUD
disallowed the use, it will become General Fund or REET.
REET
Revenue Distribution
Annual Revenue (113) $3.5m
Arterial Street (102) $1.013m
Park Capital (303) $0.03m
Transportation Capital (306) $2.015m
Debt (201) $0.813m
Total $3.5m $4.142m