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Home My WebLink AboutCity Council Committees - Committee of the Whole - 09/03/2024 (2) Approved Kent City Council - Committee • of the Whole KENT Committee of the Whole - WAS M IN G 7 0 N Regular Meeting Minutes September 3, 2024 Date: September 3, 2024 Time: 4:00 p.m. Place: Chambers 1. CALL TO ORDER Council President Pro Tern, Bill Boyce called the meeting to order. 2. ROLL CALL Attendee Name Title Status Arrived Satwinder Kaur Council President Excused Bill Boyce Councilmember Present John Boyd Councilmember Present Brenda Fincher Councilmember Present Marli Larimer Councilmember Present Zandria Michaud Councilmember Excused Toni Troutner Councilmember Present 3. AGENDA APPROVAL A. I move to approve the agenda as presented. ER SULT: MOTION PASSES [UNANIMOUS] MOVER: Toni Troutner, Councilmember SECONDER: Marli Larimer, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner 4. DEPARTMENT PRESENTATIONS A. Approval of Minutes YES i. Committee of the Whole - Committee of the Whole - Regular Meeting - Aug 20, 2024 4:00 PM Kent City Council - Committee of the Whole September 3, 2024 Committee of the Whole - Regular Meeting Kent, Washington Minutes ......................................................................................................................................................................................................................................................................................................._............................................................................................................................................................................................................... RESULT: APPROVED [UNANIMOUS] MOVER: Toni Troutner, Councilmember SECONDER: Marli Larimer, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner B. INFO ONLY: Second Quarter 2024 Investment Report Cash and Investment Officer, Joe Bartlemay presented the Second Quarter 2024 Investment Report. Bartlemay provided an overview of all investment accounts: detailed Cash and Investments by type (quarters 2-4 of 2023 and quarters 1-2 of 2024); cash and Investments from 2022-2024; and quarterly interest earnings (quarters 2-4 of 2023 and quarters 1-2 of 2024). There has been a steady increase in interest earnings. Bartlemay provided the total Cash and Investments by fund, detailed the PFM Asset Management summary and statistics, and advised the City is well within compliance for each sector allocation. C. Resolution Delegating Authority to Designate Costs for Bond Reimbursement - Adopt Finance Director, Paula Painter provided an overview of the Resolution Delegating Authority to Designate Costs for Bond Reimbursement. Painter indicated this Resolution does not take away Council's authority to issue debt - issuance of this type of declaration is simply an administrative act that does not commit the City to issuing any tax-exempt obligations, such as bonds, which remain subject to authorization only through subsequent action of the City Council by its adoption of an authorizing ordinance prior to issuance. This resolution appoints and designates the City's Finance Director as the official responsible for issuing declarations of official intent to reimburse in compliance with U.S. Department of the Treasury regulations. MOTION: I move to adopt Resolution No. 2076, appointing the City's Finance Director as the agent authorized to designate certain expenditures for reimbursement from future tax- exempt obligations, including bonds, that may be authorized and approved by the City Council in the future for issuance. ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Page 2 of 6 Kent City Council - Committee of the Whole September 3, 2024 Committee of the Whole - Regular Meeting Kent, Washington Minutes ......................................................................................................................................................................................................................................................................................................._............................................................................................................................................................................................................... RESULT: MOTION PASSES [UNANIMOUS] Next: 9/17/2024 7:00 PM MOVER: Bill Boyce, Councilmember SECONDER: John Boyd, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner D. INFO ONLY: Comprehensive Plan Capital Facilities and Utilities Elements Long Range Planning Manager, Kristen Holdsworth provided an update to the Council on the Capital Facilities and Utilities Element. Holdsworth reviewed the Vision Policy Framework that includes Guiding Principles and Elements. Overview of Capitals Facilities Element • Inventory of public capital facilities and public services • Forecast of future needs • Financing plan • Goals and policies for providing public capital facilities to meet adopted levels of service Holdsworth detailed the current topics, goals and policies of the Capital Facilities Element and detailed their connection to daily operations. Summary of Changes - Capital Facilities Goals and Policies • Reorganized for flow and remove redundancies • Relocated policies to Land Use, Climate Resiliency, etc. • Strengthened language to support equitable distribution of services and facilities. • Strengthened language to support culturally sensitive service and communications. • Strengthened language to promote environmental protection and climate resiliency • Updated language to address new PSRC multicounty Planning Policies and King county countywide Planning Policies Holdsworth provided an Overview of Utilities Element • Description of utility systems and providers in Kent • Strategies to implement growth strategy outlined in the Comprehensive Plan • Goals and policies for utility services Summary of Changes - Utilities Element Goals and Policies Reorganized for flow ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Page 3 of 6 Kent City Council - Committee of the Whole September 3, 2024 Committee of the Whole - Regular Meeting Kent, Washington Minutes • Reorganized for flow and remove redundancies • Strengthened language to ensure adequate provision of services and facilities • Added language to balance needs of new infrastructure with ongoing maintenance to support increased infill density • Strengthened language to promote environmental protection and climate resiliency • Updated language to address new PSRC multicounty Planning Policies and King county countywide Planning Policies Holdsworth announced upcoming meetings. E. Agreement with Siemens for Kent Commons Fire Alarm Replacement - Authorize Acting Facilities Superintendent and Capital Project Manager, Nate Harper provided an overview of the agreement with Siemens for the Kent Commons Fire Alarm Replacement Project. This agreement will cover the installation of a new fire alarm system at the City of Kent Commons, scheduled for completion by the end of April 2025. The total cost for purchase and installation is not expected to exceed $353,786.34. MOTION: I move to authorize the Parks Department to contract for fire alarm system parts and installation through a Cooperative Purchasing Agreement with Siemens, and authorize the Mayor to sign all necessary documents, subject to final terms and conditions acceptable to the Parks Director and City Attorney. RESULT: MOTION PASSES [UNANIMOUS] Next: 9/17/2024 7:00 PM MOVER: Toni Troutner, Councilmember SECONDER: Marli Larimer, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner F. King County Veterans, Seniors, and Human Services Levy for 2024-2026 - Authorize Kent Senior Center Manager, Cindy Robinson provided the Council with an overview of the $827,366 from the King County Veterans, Seniors and Human Services Levy in 2024. The Levy funds will enable the Kent Senior Activity Center to continue its work in becoming a more inclusive senior hub, providing seniors and/or caregivers who live in the City of Kent and surrounding areas of unincorporated King County with opportunities to experience social engagement and connection, to engage in activities that promote healthy aging, and to access resources that support seniors to live ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Page 4 of 6 Kent City Council - Committee of the Whole September 3, 2024 Committee of the Whole - Regular Meeting Kent, Washington Minutes ......................................................................................................................................................................................................................................................................................................._............................................................................................................................................................................................................... in their communities of choice. These funds will also be used for the continued funding of two limited-term employees - a Senior Center Outreach Coordinator and Senior Center Program Assistant. These two full time employees will be funded 100% by VSHSL funding. MOTION: I move to accept grant funds from King County in the amount of $827,366 through the King County Veterans, Seniors, and Human Services Levy, amend the budget, authorize expenditure of the grant funds, and delegate authority to the Mayor to approve and execute an agreement with King County for the use of these grant funds, subject to final terms and conditions acceptable to the Parks Director and City Attorney. RESULT: MOTION PASSES [UNANIMOUS] Next: 9/17/2024 7:00 PM MOVER: Toni Troutner, Councilmember SECONDER: Marli Larimer, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner G. Consultant Services Agreement with Akana for Construction Management Services — Authorize Construction Manager, Eric Conner provided an overview of the Consultant Services Agreement with Akana for Construction Management of the Meeker Street Multimodal, Kent Elementary School and Meeker Street at 64t" Avenue Intersection Project. The Project will construct curb bulb-outs, new cement concrete crosswalks, pedestrian scale illumination, and ADA curb ramps. The Meeker Street promenade will be extended 750' east of the intersection, including a cement concrete separated 2-way bicycle path, median islands, pedestrian lighting, landscaping, and a rapid flashing beacon with a raised mid-block pedestrian crossing. MOTION: I move to authorize the Mayor to sign a Consultant Services Agreement with Cooper Zietz Engineers Inc., DBA Akana, subject to final terms and conditions acceptable to the Public Works Director and City Attorney. RESULT: MOTION PASSES [UNANIMOUS] Next: 9/17/2024 7:00 PM MOVER: Brenda Fincher, Councilmember SECONDER: Toni Troutner, Councilmember AYES: Boyce, Boyd, Fincher, Larimer, Troutner S. ADJOURNMENT ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Page 5 of 6 Kent City Council - Committee of the Whole September 3, 2024 Committee of the Whole - Regular Meeting Kent, Washington Minutes ......................................................................................................................................................................................................................................................................................................._............................................................................................................................................................................................................... Boyce adjourned the meeting. Meeting ended at 4:38 p.m. Ki4�te,y A. Kot to- City Clerk ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Page 6 of 6 I City of Kent Investment Portfolio Q2 - 2024 ' CITY OF (CENT INVESTMENT PORTFOLIO June 30, 2024 Purchase; Market Value Investment Date Investment Description 'field Maturi 6 30 2024 Total 06/30/24 Gash - US Bank 5.500°fl Overnight 10,504,593 10,504,598 06/30}24 WA State LGIR 5.404°lfl Overnight 135r666r910 135r666r910 06/30/24 FFM Mann ed Pcrtfc1i0 2.810°f4 811 Days 243 f 321 455 249,486,972 3B0 49 2,963 395,650,461D Kent Portfolio ■Cash ■IVA State LGIF s U.S. Treasuries ■Su pra Na tiona I Bonds ■Municipal Band s ■Gott. Ag enaes ib Corporate Notes i Comm eraal Raper Bank Notes CITY OF KENT CASH AND INVESTMENTS BY TYPE QUARTER ENDING BALANCES 2023 Q2-Q4 AND 2024 ICI-Q2 450,000,000 - 400,000.000 - _, - - 3a0,000.000 300,000.000 250i 0D0,000 --+ Total C&I 200,000,000 — - other Investmsri�s LGfP 150,000,000 - — - - Ca sh 100,000.00G 50.01-33.000 grid Quarter 2023 3rd Quarter 2023 4th Quarter 2023 Ist Quarter 2024 2nd Quarter 20,14 I ASH AND INVESTMENT MONTH ENDING BALANCES 2022 J 2023 / 2024 450,000,000 400,000,000 350,00 ,00 AF- - Ar 300,4 00.,000 250,000,000 2024 2023 2-00,000,000 _--#_—_ 2022 15�,�4�,007 100,000,000 50,000,000 JAN FEB MAR APR MAY aUN JUL AUG SEP CICT NOV DEC In June 2022, the City received one-time funds of $14AM of ARPA grant funding. Quarterly Interest Earnings - 4f 2023 and 1- 2f 2024 3'.00 4J f0 00 2,644F5 49 +'y �'y�'y �'y�'y�'y 2,539,024 2,575,691 2,50 0,0 00 f F 2,211,243 1,500,000 1,000f000 j�j�j� 628r673 691,356 756r 7345 732,662 714,064 500FVVV Q2 2023 Q3 2023 Q4 2023 Q 1 2024 Q2 2024 ■General Fund Other Funds Total Cash and Investments By Fund Julie 30, 2024 1000 General Fund 62,580,649 1100 Street Fund 19,283,962 1200 PS Retiree Healthcare Fund 1,223,043 1300 Lodging Tax Fund 327,793 1400 Youth/Teen Fund 1,107,133 1500 Capital Resources Fund 40,593,535 1600 Criminal Justice Fund 11,207,551 1800 Housing & Comm Dev Fund 5,824,570 1900 Other Operating Projects Fund 10,024,373 1950 (Cent Events Center Operating Fund (75,428) 2200 Non-Voted Debt Service Fund 492,946 2500 Spec Assess Debt Service Fund 648,601 3100 Street Capital Projects Fund 27,430,241 3200 Parks Capital Projects Fund 16,971,950 3300 Other Capital Projects Fund 3,231,547 I 3400 Technology Capital Projects Fund 10,414,025 3500 Facilities Capital Projects Fund 17,378,656 4100 Water Fund 44,189,977 4300 Seger Fund 16,525,835 4400 Drainage Fund 44,699,068 4700 Solid Waste Fund 454,651 4800 Golf Fund 3,315,550 5100 Fleet Service Fund 7,436,182 5200 Central Services Fund 1,919,398 5400 Facilities Management Fund 7,151,929 5600 Insurance Fund 34,869,559 5900 Deferred Compensation Fund 192,556 6200 Firefighters Pension Fund 2,471,309 6400 Deferred Comp Fund - 6500 Payroll Clearing Fund 429,296 6600 Subsystem Clearing Fund (81,064) 6700 Utility Clearing Fund 1,373,396 6800 Agency Clearing Fund 1,587,823 7100 Special Events Center-PFD 458 871 Total: 395,650480 ptm4) asset management Por0blia Summary and Statistics For the Month Ending June 30,2024 C1TY OF KENT -46820000 Description Par Value Harkat Value! Percent Li-S. Treasury Bond i Note 155,160,000.00 146,520,26631 60.22 Bank Note 0.955iti Supra-National Agency Bond I Nate 11,250,000.00 10,979,394.00 4-51 Corporate Now Municipal Bond f Not& 4,030,000.00 4,005,328.45 1.55 21,2% Federal Agency Bond i Note 2350011000.00 22,483,SM35 9.24 Corporate Note 58r6G5,060.60 57,014677.36 23.43 Bank NoLe 2;3%000.00 2,315,238.00 0.95 Managed Account Sub-Total 254,905rD011,90 243,321,454.913 IOfi.QO"k. Acci-jed lrterest 1,410,691.98 Fed Agy florid f Total Portfolio 254egU5r000,00 244,732,i36.9fi Note 9.2946 Muni Blond}Mote E.6546 Unsettled Trades 0.40 U.00 Supra-Wabonel Bmd{Note US TSf Blond{Note 4.5146 6b-22% :.3�'.. Yield to Maturlty at Cost 231% Yield to Maturity at Market 4.91% ie.zs�•. 1Nelghted Average bays to Maturity Gil J 2.96.E 6-6 P—1-u 6—:2'-1,LI I I For the quarter Ended Junta 30,2024 CITY OF KENT Account Summary Sector Allocation Analytics U.S. Treasury-$147,272,961 Federal Agency-$22,570,111 5.8°IQ Supranational-$11.b51.610 2.8% Municipal-$4,024,503 1.0% Corporate-$59,812,952 mu�b Local Government Investment Pool -$135,666.916 - 34J% Bank Deposits-$10,504,598 21% 0_0% 20 0% 40.0% 60_0% 80 0% 100.0% Portfolio Allocation Sector Limit for Analysis* I ForinFnrmaorrna[IanaryacatpoTases ontyarrd rs rrnr prowded forcomplrarm assurance.?f�c odes accrued fiMerast SecYwLmi1 forMarysis is as derived Irom ourmfeMrelarow of your mast recant lnvesimer[t Poixy as provided. 'EI PFM Asset iWanagement LLC pfrnam.corn 40 For the Quarter Ended June 30,2024 CITY OF KENT PargDha CharacterisLcs Sector Allocation Review - CITY OF KFNT . . Total U_5.Treasury $1142 57.1% $117.4 56.5% $131.6 59.1% $146.5 602% Federal Agency $21.9 10.9% $22.3 10.7% $22.3 10.0% $22.5 92% Supranational $102 5.1% S10.4 5.0% $1U.9 4.9% S11.0 4.5% Municipal $42 2.1% $4.3 2.1% $4.3 2.0% $4.0 1.7% Corporate $49.5 24.8% S53.3 25.7% $53.3 24.0% $59.3 24.4% Total $2000 INA% $207.7 100.0% $222.5 160.0% $243.3 100.0% PM U_5_Treasury =FederalAijency =Supranational Munickpal Corporate $250.0 - $200.0 cn $150.0 O $50 0 $0.0 - S.eptember 2023 ❑ecem ber 2023 March 2024 June 2024 Markel values.excluding accrued+nferesl. Only includes foxed-income secunbes held wilh+rn the separaiPJy managed amount(s)and ZGlPS managed by PFP AM.Delos may not add to loW due to rounding. @ PFM Asset Management LLC pfmam.com ok 1 r R ' A. � ��.• _ . ,:�� - —��M° - y .t� :1_�_;�,�_1, - ��,�;.� �- - Capital Facilitie an �Pk UtiIsties Element TIM . . _ . ��r �: �, . • ,�- ,i �, .- - - _ - Updates is � � — ��` r -�� • . F.rml�`_ :,, — _ '�r� �� • , Land Use and Planning Board August 26, 2024 Comprehensive Plan 2044 Building Our Future Together Goals for Tonight's Meeting Review Capital Discuss major Review and � Facilities and changes to goals � provide feedback Utilities Elements and policies � on goals and policies Y'KENT_ ision V 0 0 olicy Framework VISION GUIQING GUIpING GUIQING GUIpING GUIDING PRINCIPLE PRINCIPLE PRINCIPLE PRINCIPLE PRINCIPLE ELEMENT ELEMENT ELEMENT ELEMENT ELEMENT ELEMENT ELEMENT ELEMENT ELEMENT RELATIONSHIP TO OTHER ELEMENTS AND CITYWIDE PLANS EACH CURRENT CDN ❑ITIaNS, TRENDS AND QPPC)RTUNII II ELEMENT GALS GUIDING A%%,Comprehensive Plan PRINCIPLE ICQNOGftAPHY POLICES & E[�UITA6LE OUTCOME 2044 "1 KENT CALLOUi'S 3BuildingOur Future Together-.4111L Overview ofCapital FacilitiesElement • Inventory of public capital facilities andCAPITAL FACILITIES ELEMENT public services • Forecast of future needs — • Financing plan Hill • Goals and policies for providing public - capital facilities to meet adopted levels of CAPITAL FACILITIES ELEMENT service What you will find in this chapter: ti,....,.,y Pw. ,pt. --mg the.bcr W upwty. A for "d Mve need%toc P k cap4I(rron tee p,opoNd bCAD-t nd CAPK n • Ahtrreq Plan w fa" eac cpdd tac� 6eq rf nd. kr4aV c pacws rids c.of PbKrno".rd C—N"pok a 6p,p—drq PLtc cap"facMn to nKrtt adopted to eh of Nna• "Md^9a*-2,q It.Wdux eknwe if Rrdeq(af tho.t of m .V tore d, Purpose Statement: Ao,ae suurn.w•:>o..a to ae,na welt good%is+mew Topics Goals Policies CAPITAL FACILITIES ELEMENT CHAPTER NINE/ 137 Building Oture TogetherL Connection to Daily Operations Public facilities include streets, roads, highways, Comprehensive CapitalFacilities Element sidewalks, street and road lighting systems, traffic signals, domestic water systems, storm and Annual sanitary sewer systems, parks and recreational Budget • Capital Improvement facilities, and schools Program • City Facilities • City Utilities • Public services include fire protection and suppression, law enforcement, public health, Puget • • Fire education, recreation, environmental protection, • and other governmental services. School Summary of Changes - Capital Facilities Goals and Policies • Reorganized for flow and remove redundancies • Relocated policies to Land Use, Climate Resiliency, etc. • Strengthened language to support equitable distribution of services and facilities. • Strengthened language to support culturally sensitive service and communications • Strengthened language to promote environmental protection and climate resiliency • Updated language to address new PSRC Multicounty Planning Policies and King County Countywide Planning Policies. vIL a�� KENT_ Overview ofUtilitiesElement • Description of utility systems and 1 providers in Kent I , • Strategies to implement growth strategy outlined in the Comprehensive Plan • Goals and policies for utility services UTILITIES ELEMENT What you will find in this chapter: uewp•on a the warty sys:eml u+a prtxwra n Cie Gry of rmt i cW+�C poltiw for pro�tl+q utNy uncc+to Iwnl revaent�r�C . }./"qft Io.rr04rtrrw1q the Gry\pok[ WLIy Po Purpose Statement: ..•A !o%w tthe erns-d sb ngo Mh 0n 22 � I • • ics Goals Policies UTILITIES ELEMENT CHAPTER SIX�� 93 Building Our Future Together Summary of Changes - Utilities Element Goals and Policies • Reorganized for flow and removed redundancies • Strengthened language to ensure adequate provision of services and facilities. • Added language to balance needs of new infrastructure with ongoing maintenance to support increased infill density • Strengthened language to promote environmental protection and climate resiliency • Updated language to address new PSRC Multicounty Planning Policies and King County Countywide Planning Policies. vIL a�� KENT_ Upcoming Meetings • September 4: Community Advisory Group Meeting #5 • September 9: Land Use and Planning Board • September 17: Council Workshop • September 23: Special Land Use and Planning Board meeting (7 pm) • October 7: Land Use and Planning Board October 11 Draft Comprehensive Plan INI a�� KENT_ ,KENTkv Building g0 F Together Questions? Kristen Holdsworth , Project Manager 25398564, 5441 f u t u re ke n t Cw Ke n tWA. cLov Engage. KentWA.gov/Futu re Kent �� Meeker Street Multimodal, Kent Elementary School and KENT Meeker St at 64t" Ave Intersection W A S H 1 N G TO N 1 1 Wt w Al 5x ese Committee of the Whole September 3, 2024 KEN T W A S H 1 N G T 0 N Curb bulb outs to shorten , r� I pedestrian crossing - distance - 7. -- - - - ti Raised crosswalk merit Bus bulb out for with rapid concrete transit users flashing beacon crosswalks _ Errt Elementary School