Minutes
P.O. Box 1209 Seattle, Washington 98111 www.portseattle.org 206.787.3000 APPROVED MINUTES COMMISSION SPECIAL MEETING AUGUST 6, 2020 The Port of Seattle Commission held a special meeting, Wednesday, August 6, 2020, as a commission retreat session. The retreat was held remotely in accordance with the governor's 'Safe Start' order and Proclamation 20-28. Commissioners Bowman, Calkins, Cho, Felleman, and Steinbrueck were present. The meeting convened approximately at 8:30 a.m. Presentation materials included a packet containing the following documents: Maritime and Economic Development CIP and Capital Funding Preliminary Tax Levy Discussion Commissioners and staff met in a retreat to discuss updates to the 2020 budget, industry analysis, analysis of non-airport financial performance and CIP funding capacity, and Commission priorities for the remainder of the budget year. Members of the Commission and staff discussed: the Maritime and Economic Development Capital Improvement Program (CIP) and capital funding o budget timeline; o pandemic challenges requiring an iterative CIP review with the Commission; o 2021 budget guiding principles; o capital planning guidelines; o capital improvement plan priorities; o 2021 2025 capital capacity key assumptions; o a revised preliminary capital investment plan; o preliminary 2021 2025 CIP spending recommendations; o key capital project review for cruise, Fisherman's Terminal Gateway project, T91 uplands Phase 2, and increased reserves; o 2021 preliminary capital spending; o conclusions; and adjusting to new business realities adjusting to new constrained financial capacity providing flexibility levers for different scenarios aligning with guiding principles and supporting economic recovery meeting critical needs asset preservation, financial sustainability, and environment/community Digital recordings of the meeting proceedings and meeting materials are available online www.portseattle.org. PORT COMMISSION MEETING MINUTES Page 2 of 2 THURSDAY, AUGUST 6, 2020 o next steps. Preliminary Tax Levy Discussion o July 29 retreat included preliminary funding information; o key take-aways impact tax levy discussion; o the pandemic reality factors into decisions on the 2021 levy amount and uses; o tax levy background and uses; o criteria for levy funding projects; o tax levy used at most facilities; o non-capital uses; o levy options to add funding capacity 2021 2025; o taxpayer impacts; o watch list items; transportation infrastructure fund COVID costs downside risk o recommendations; o 2020 community programs; o the Port's taxing authority; o Industrial Development District (IDD) levy background; and o IDD levy implementation. Members of the Commission discussed the analysis of the non-airport financial performance; CIP funding capacity; and their priorities and project inquiries for the remainder of the budget year. Requests for follow-up information was provided to staff. The retreat concluded and the meeting adjourned at 11:57 a.m. Prepared: Attest: Michelle M. Hart, MMC, Commission Clerk Sam H. Cho, Commission Secretary Minutes approved: September 22, 2020. September 8, 2020. Minutes of July 29, 2020, submitted for review on September 3, 2020, and proposed for approval on September 8, 2020.
Limitations of Translatable Documents
PDF files are created with text and images are placed at an exact position on a page of a fixed size.
Web pages are fluid in nature, and the exact positioning of PDF text creates presentation problems.
PDFs that are full page graphics, or scanned pages are generally unable to be made accessible, In these cases, viewing whatever plain text could be extracted is the only alternative.