FC050818FINANCE COMMITTEE MEETING
May 8, 2018
Elected Officials Present
Councilmember Dave Teitzel (Chair)
Councilmember Diane Buckshnis
Staff Present
Carrie Hite, Parks & Recreation Director
Dave Turley, Assistant Finance Director
Jeff Taraday, City Attorney
The meeting was called to order at 7:10 p.m. in the Jury Meeting Room.
Ground Lease for the Waterfront Center
Councilmember Buckshnis relayed she has taken a leave of absence from the senior center and
therefore has no conflict of interest.
Ferrell Fleming, Executive Director, Edmonds Senior Center, explained the purpose of this item was
to begin a conversation on a process that they believe will be beneficial to the waterfront center, the
City and the people the City and the center serves. He described the original lease, drafted by City
Attorney Jeff Taraday as well the senior center's attorney, Brad Cattle, that was signed in late January
2015 following consideration and approval by the City Council. He described the history of the project
including evolution of the design, the City's commitment to do significant work on the waterfront park
and the walkway connection, changes to the design that have occurred since the lease was signed,
and revising the lease to reflect each party's responsibilities. He proposed the senior center would
lease the ground under the building and the City would be responsible for the remainder of the
property including design, construction and maintenance of the parking lot and frontage.
Ms. Hite, Mr. Fleming and Daniel Johnson, Edmonds Senior Center Campaign, Director/Project
Liaison, responded to questions and discussion followed regarding the term of the ground lease,
50/50 share of the cost of the parking lot and frontage improvements in the existing ground lease,
existing shared parking lot, existing maintenance of the parking lot, the center's fundraising target,
details of the ground lease, rationale for approaching the City with this proposal, estimated cost of the
parking lot and frontage improvements, the building reverting to City ownership at the end of the term,
potential City funding sources for this expense, expiration of the option to lease, required Council
approval of the final design development, and funds raised to date. Mr. Fleming distributed a draft
Public/Private Commitment document.
Action: Refer for further discussion and attorney review
2. March 2018 Quarterly Financial Report
Mr. Turley highlighted the following and responded to committee members' questions:
• YTD revenues lagging due to property taxes that are received in May
• Expenses essentially on track
• Parking Infraction penalties are up due to increase enforcement
• REET 1 & 2 up due to the sale of two apartment buildings
Action: Schedule on Consent Agenda.
The meeting was adjourned at 8:00 p.m.