HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 10/30/2008 (3) •
KENT SPECIAL MEETING
WA5F11 NOTO N
Public Facilities District
October 30, 2008
3:30 p.m.
Board Members Present: Chair Mike Miller, Randall Smith and Cass Prindle.
Others Present: Ben Wolters, Bob Nachlinger, Tim Higgins, Brad Tong, Tom
Brubaker, Colin Campbell, and Administrative Assistant Julie Pulliam.
I. Call to Order
a. Approval of Minutes. Prindle moved to approve the minutes of
September 25, 2008. Smith seconded and the motion carried.
II. Proiect Overview and Update
a. Overview of Protect Budget, Brad Tong noted that 79% of the
project budget has been spent, and 81% of the construction budget has been
spent.
• b. Overview of Project Schedule. Wolters said the project is on
time and will open in sixty-five days. Tong said the contractor's January 2,
2009, committed date for beneficial use is on target.
C. Current Status of Construction. Wolters noted that lights are
being installed, the seats are all in, the scoreboard is being assembled, and
the plan is to move SMG and the Thunderbirds into their offices in early
December. He said he hopes to have the contract with ShoWare for naming
rights ready for approval at the November 18, 2008, Council meeting. He
noted that a protest was received from Ticketmaster, and said furniture,
fixtures and equipment issues are proceeding at a rapid pace, as are King
County Health Department permits. Tong outlined the status of critical path
activities, other major construction activities, and the owner's contractor
activities.
d. Status of Design. Brad Tong noted that design for the suites,
club lounges and exterior plaza fronting James Street are essentially
completed, and that construction procurement is in progress. He added that
design for the new ShoWare logos has commenced and has been incorporated
into some elements of the signage package. At Wolters' request, Tong
explained contingencies and overtime relating to the incentive bonus in the
GCCM contract. Upon Miller's question regarding a backup plan, Higgins
noted that two of the concession stands are grills and two rely on the
kitchen.
III. Operator Update
Tim Higgins noted that he has recently hired a Food and Beverage Director
and a Director of Finance, and is close to a decision on security and
Public Facilities District October 30, 2008
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housekeeping companies. He explained the upcoming job fair and said family
shows are being lined up.
IV. Sales and Marketing Update
a. Thunderbirds. Colin Campbell noted that overall sales continue
to do well, including club seats and suites, and that sponsorships are also
going well. He said he has meetings set up with pop and beer companies, but
that they are not spending as much in sports as they used to. He noted that
additional inventory is being added, and that the final number of seats is
6,138.
V. Finance Report
a. Financial Update. Bob Nachlinger noted that interest rates went up
after the City Council authorized a $5.3 million bond issue for completion of
the Events Center, but that action during a window of opportunity resulted in
sale of all the bonds. He said closing will be on November 4cn
b. Review of State Sales Tax Revenues. Nachlinger noted that the total
sales tax as of September 30, 2008, has been slightly over $500,000, but
• explained that the streamlined sales tax was implemented in July, which
resulted in sales tax for the City being down over 20%, since it is now based
on the point of distribution rather than the point of sale. He noted that under
certain conditions the tax rate can be amended from .033 up to .037, and
that next fall he intends to ask that the rate which comes to the Public
Facilities District be amended. It was clarified that the rate will not be
retroactive, and that until that time, there will be no additional revenue.
VI. Other Business
a. December Meeting Date and Location. At Ben Wolters' suggestion as a
milestone for this group, all agreed to hold the next meeting on December 18,
2008, in the Conference Room at the Events Center at 3:30 p.m. Wolters
said he will provide Board members with a list of events prior to the opening.
VII. Adiournment
The meeting adjourned at 4:40 p.m.
7eyBrenda Jacob CMC
City Clerk
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