Minutes Exhibit C
Port Commission Special Meeting of October_ _
25. 2016

THE PORT OF SEATTLE: STRATEGIC REAL ESTATE PLAN

Oct 25, 2016

My name is Tom Pozarycki. lam the Senior Vice President and Manager of
Washington Federal's Commercial Real Estate lending team in Seattle. 1 also
manage land development and homebuilder finance activity across our eight state
footprint.

Washington Federal is the strongest financial institution of the 100 largest banks
in the United States with almost $15 billion in total assets and we are
headquartered in downtown Seattle.

I commend the Port of Seattle for developing a strategic real estate plan while
being cognizant of its role as a public-private entity, sensitive about competing
with the private sector. As we know, King County is a land constrained market
experiencing historic growth. Therefore, as Seattle grows into a gateway city, The
Port has an opportunity and responsibility to more strategically manage its real

estate.

I have underwritten and financed real estate developments in the King County
market for almost 20 years. In my professional opinion, there is room for the Port
of Seattle to engage more fully, particularly on sensitive industrial sites, that the
private sector would not or could not pursue. How best to do this is for the Port
of Seattle to determine.

I can affirm the process of evaluating The Port's existing real estate as well as
opportunities in the market, is off to a very good start. The Advisory Committee is
diverse and well represented by the community. Heartland and Jeffery Utterback
were very professional, fact-based and inclusive in their evaluation of the real
estate, management of the Advisory Committee and development of the strategic
real estate plan.

It was a privilege to serve on the Committee and I look forward to the Port of
Seattle's next steps.