PDA Council - Meeting Agenda MINUTES/20… · C. Committee Chair Report Bruce Burger commented on the timeline regarding the Marketing Strategy with Market Programs. At the March

PDA Council - Meeting Agenda Date: April 26, 2012

Time: 4:00 p.m. – 6:00 p.m.

Location: PDA Public Meeting Space (the old Top of the Market space)

Council Members: James Savitt (Chair), John Finke (1st Vice-Chair), Ann Magnano (2nd Vice-Chair), Jill Andrews, Bruce Burger, David Ghoddousi, Matt Hanna, Patrick Kerr, Gerry Kumata, Bruce Lorig, Jackson Schmidt, and Gloria Skouge

4:00pm I. Administrative: A. Approval of Agenda B. Approval of the March 29th Meeting Minutes

Chair

4:05pm II. Public Comment Including the Market Community

4:10pm III. Reports and Information Items A. Council Chair Report B. Executive Director’s Report

1. Waterfront C. Committee Chair Report D. Other Reports

James Savitt

Ben Franz-Knight

4:20pm

IV. Key Issues Presentation and Discussion: A. Pike Place Uses B. Renovation Recap and “Thanks to you Seattle” Campaign

Ben Franz-Knight

5:10pm

V. Resolutions and Other Action Items (Old and New Business) A. Consent Agenda

Resolution 12-18: Authorization for Contract Authority – Fabrication of Ice Melt Station Resolution 12-19: Authorization for Contract Authority – Install Condenser Lines Ice Melt Station Resolution: 12-25: Authorization for Contract Authority – Corner Market Window Replacement Resolution 12-26: Lease Proposals – April 2012: 6H Consulting Bella Umbrella Los Agaves Pike Place Taqueria Y Cantina Britt’s Pickles Bavarian Meats Cedar River Group Lisa Harris Gallery Lionheart Bookstore Maggie’s Shoes Market Coins Resolution 11-101: Further Amendment to Resolution 11-101 - Annual PDA Council and Council Committee Meeting Schedule

B. New Business Resolution 12-28: Insurance Renewal for period May 1,2012 – April 30, 2013 Resolution 12-30: Authorization for Contract Authority – Miller Hull Architectural Services – PC1N Design and Development Resolution 12-31: Authorization for MOU/MOA

Ben Franz-Knight

5:25pm VI. Further Public Comment

5:30pm VII. Other Reports and Action Items

A. PC1-N MOA/MOU (Closed Session Per (RCW 42.30.110(1)(b)) B. Union Contract Negotiations – Update (Closed Session Per (RCW

42.30.110(1)(b))

5:55pm VIII. Concerns of Committee Members

6:00pm IX. Adjournment Chair

Section I: Administrative

A. Meeting Notice & Agenda

B. PDA Council Minutes for March 29th, 2012

Pike Place Market Preservation and Development Authority (PDA)

COUNCIL MEETING MINUTES –March 29th, 2012

Council Members: James Savitt, Ann Magnano, Jill Andrews, Bruce Burger, David Ghoddousi, Matt

Hanna, Patrick Kerr, Gerry Kumata, Jackson Schmidt, Gloria Skouge Staff Present: Ben Franz-Knight, Ryan Yale, Teri Wheeler, Jay Schalow, Scott Davies, John Turnbull,

Jennifer Maietta, Kelly Lindsay, David Dickinson, Steve Nelson, Matt Holland, Dianna Goodsell

Others Present: Ernie Sherman, Sharon Mukai, Paul Dunn, Haley Land

The meeting was called to order at 4:01 p.m. by James Savitt - Chair. I. Administration

A. Adoption of Agenda The agenda was approved by acclamation

B. Review and Approval of Minutes of February 28th, 2012 The minutes were approved by acclamation

II. Public Comment Including the Market Community

Earnie Sherman commented on the cancellation of the March Executive Committee. He stated he was disappointed there was no formal warning for the cancelation of the meeting.

Haley Land commented on the 2012 Daystall Rules and Regulations Rules Review. He stated that the overall process has been smooth and fair. He said there has been a lot of good feedback from the Daystall staff regarding the community comments. He brought up a community concern regarding the air quality in the daystall lockers and requested this issue be investigated. Haley separately pointed out that the Pike Place Market’s current calendar of events does not currently hold a local crafts themed festival, which he advocated to look into adding. Lastly he made a suggestion in including anniversary dates of businesses and farmers/Daystall vendors from the Pike Place Market in the Council packet.

Jim remarked on Haley’s comments, stating appreciation for his feedback and involvement in regards to the PDA and Daystall community relationships. Ben added that the ventilation issues with the daystall lockers and opportunities for a craft theme festival will be looked into.

III. Reports and Information Items

A. Council Chair Report

Jim discussed this month’s agenda and noted the key issues being addressed at tonight’s meeting. He reminded the committee that Pike Place Management and Uses was added to the issues being addressed this year, which will still allow the Council to stay on track with the 2012 timeline. He noted that next month there will be a presentation on Pike Place Uses, which will be discussed at this month’s Asset Management meeting. He stated that there will be a report on Pike Place Uses, which will hopefully provide more direction regarding the corresponding timeline.

B. Executive Director’s Report 1. Update on Phase III Renovation

Ben gave an update on Phase III Renovation, which he stated is largely complete. He added that there still is a small amount of roofing work needing to be completed on the Soames Dunn building. He noted that all of the seismic upgrades are complete now and the Elevator in the Atrium is fully functional. Going forward, IL Bistro will still need more work done. Overall there has been tremendous effort by everyone to get to the point where we are now. In wrapping up with the Renovation, there will be efforts placed on the Thank you Seattle Campaign.

Ben announced that Friday, March 30th, will be Marlys Erickson, last day as the Pike Place Market Foundation Executive Director. Ben added that Lillian Hutchison will be the New Market Foundation Executive Director.

C. Committee Chair Report Bruce Burger commented on the timeline regarding the Marketing Strategy with Market Programs. At the

March Market Programs meeting, there was a brief review of Strategic questions for the Marketing Strategy of Pike Place Market PDA. He added that the tentative schedule will be to discuss those topics in the subsequent 3 months and expectantly be ready to present Market Strategies to Full Council by June or July.

D. Other Reports

None

IV. Key Issues Presentation and Discussion: A. Daystall Rules & Regulations Update

David gave a brief update on the Daystall Rules and Regulations. . He gave an overview of the proposed changes in the Rules and gave the reasoning and rationale of the Staff recommendations. The updated recommendations were stemmed from evaluation of feedback from the Daystall Community and Staff. Specific Staff Recommendation Updates included;

•Proposal #1 and #2: No change. Staff reviewed technology guideline concerns and found no reasonable problems.

•Proposal #14: Updated. The current weekday Roll Call remains consistent, Staff moved Sunday’s Roll Call to 9:30am from 10am.

•Proposal #18-A: Updated. As result, several differing concerns from craftspeople and merchants prompted the Staff to not support the proposal.

1. Action Item: Proposed Resolution 12-20: Adoption of Daystall Rules and Regulations

The resolution proposes that the PDA staff has held Daystall community meetings regarding the potential changes and has altered the Initial proposed changes to Daystall Rules and Regulations based upon those meetings. On March 8th, 2012 the Market Programs Committee held an open public meeting that discussed and considered said rule changes with opportunity for public comment. It was requested that the Pike Place Market PDA Council hereby approves the following 2012 changes to the Daystall Rules and Regulations.

Ann Magnano moved, Gloria Skouge seconded

For: Jim Savitt, Ann Magnano, Jill Andrews, Bruce Burger, David Ghoddousi, Matt Hanna, Patrick Kerr, Gerry Kumata, Jackson Schmidt, Gloria Skouge

85 Pike Street, Room 500 Seattle, WA 98101 (206) 682-7453 www.pikeplacemarket.org

Against 0 Abstain: 0

Resolution 12-20 passed unanimously

B. Waterfront Update, Status and Issues

Ben gave a presentation on PC-1 North and the Waterfront. He overviewed the History of the PC-1 North Site, Municipal Market and discussed guiding principles in designing and developing the PC-1 site. Ben also discussed PC1-N priority uses which included: Parking, Storage, Commercial/Residential Activation, Social Services and Programs. He briefly went over preliminary rough cost estimates for Phase 1 and Phase 11, correspondingly. The estimated costs were broken down into $22,507,956 for Phase 1, $23,387,878 for Phase 11, totaling costs of $45,895,834. With including hard and soft costs, the PC1-N rough estimates total $57,832,259. Ben noted possible sources in funding for the PC-1 project including City assistance to help pay for parking and public open space, New Markets and Low Income Tax credits and financing by the PDA. He concluded his presentation by reviewing the next steps in moving forward with PC-1 North and the Waterfront: The next steps include:

a) Continuation of collaboration with the Central Waterfront Design Development and key

partners including the Aquarium. b) PDA will continue to pursue PC1-N Design Development, Program and feasibility studies. c) Begin initial MOA including the outline of partner responsibilities, establishment of rough cost

estimates/financing scenarios and options, timeline and phasing and lastly the ownership of PC-1 North.

There was a discussion that followed the presentation.

C. Strategic Issue - Pike Place Uses 1. Action Item: Proposed Resolution 11-91: Adoption of the Strategic Planning Objectives for 2012

The resolution proposes that the PDA staff has held Daystall community meetings regarding the potential changes and has altered the Initial proposed changes to Daystall Rules and Regulations based upon those meetings. On March 8th, 2012 the Market Programs Committee held an open public meeting that discussed and considered said rule changes with opportunity for public comment. It was requested that the Pike Place Market PDA Council hereby approves the following 2012 changes to the Daystall Rules and Regulations.

Matt Hanna moved, Jill Andrews seconded

For: Jim Savitt, Ann Magnano, Jill Andrews, Bruce Burger, David Ghoddousi, Matt Hanna, Patrick Kerr, Gerry Kumata, Jackson Schmidt, Gloria Skouge

Against 0 Abstain: 0


V. Resolutions and Other Action Items (Old and New Business)

A. Consent Agenda

Action Item: Proposed Resolution 12-15: Authorization for Contract Authority- Replace Maintenance Shop Floor Action Item: Proposed Resolution 12-16: Authorization for Contract Authority- Modernize Elevator Cab - Market House Action Item: Proposed Resolution 12-17: Authorization for Contract Authority- Residential Common Area Upgrades – Leland Building Action Item: Proposed Resolution 12-22: Lease Proposals – March 2012: Double Dorjee, Piroshky Piroshky, Solstice Designs by Locals


Action Item: Proposed Resolution 12-23: New Bank Account for the Farm Program (SNAP Program and Credit/Debit Cards) Action Item: Proposed Resolution 12-24: Amendment of the Property Management Agreement between PPM PDA and PPM QALICB Motion to approve the consent agenda

Gerry Kumata moved, David Ghoddousi seconded For: Jim Savitt, Ann Magnano, Jill Andrews, Bruce Burger, David Ghoddousi, Matt Hanna, Patrick Kerr, Gerry Kumata, Jackson Schmidt, Gloria Skouge Against: 0 Abstain: 0

Consent agenda passed unanimously

B. New Business

Action Item: Proposed Resolution 11-101: Amendment to Resolution 11-101 – Annual PDA Council and Council Committee Meeting Ben introduced the resolution which proposes that the PDA Council and Council Committee meeting schedule is currently determined by setting the meeting of the full PDA Council generally on the last Thursday of each month with standing Committee meetings scheduled prior to that date throughout the month as follows:

Waterfront Redevelopment: 1st Tuesday of the Month – 5:00 pm to 6:00 pm 3rd Thursday of the Month – 5:00 pm to 6:00 pm

Asset Management: 2nd Monday of the Month – 4:30 pm to 6:00 pm

Market Programs: 2nd Thursday of the Month – 4:00 pm to 6:00 pm

Finance: 3rd Tuesday of the Month – 4:30 pm to 6:00 pm

Executive: Wednesday, One week prior to PDA Council – 8:00am to 9:00am

Certain Council and Committee meeting dates have been adjusted for holidays, which will include;

September Finance Committee – September 25th December Full PDA Council Meeting – December 20th

It was requested that the PDA Council hereby amends its meeting schedule by setting the meetings for the year.

David Ghoddousi moved, Jill Andrews seconded For: Jim Savitt, Ann Magnano, Jill Andrews, Bruce Burger, David Ghoddousi, Matt Hanna, Patrick Kerr, Gerry Kumata, Jackson Schmidt, Gloria Skouge Against: 0 Abstain: 0

Resolution 11-101 passed unanimously Patrick commented on the current Executive meeting schedule and his conflicts with the current meeting times. Jim stated that he will survey the Executive Committee members and come back to Council to address this issue.

VII. Further Public Comment None V. Other Reports and Action Items



Closed session began at 5:19 p.m.

A. Real Estate Matters (Closed Session Per (RCW 42.30.110(I)(B)) B. Union Contract Negotiations – Update (Closed Session Per (RCW 42.30.110(I)(B))

Closed session ended at 5:57 p.m. VIII. Concerns of Council Members

None

IX. Adjournment The meeting was adjourned at 5:59 p.m. by James Savitt, Chair

Meeting minutes submitted by: Dianna Goodsell, Administrative Services Coordinator

Section III: Reports and Information Items

A. Executive Director’s Report - April, 2012

B. Financials – March 31st, 2012

C.Monthly Progress Report – April, 2012

Page 1

Date: April 20, 2012 To: PDA Council From: Ben Franz-Knight Subject: Executive Director’s Report – April 2012 SUMMARY April 2012 was a month of significant transition in the Market. With major renovation work complete we will be reaching out to the citizens of Seattle with a “Thanks to You Seattle” campaign. The campaign will be launching on Thursday, April 26th and continuing throughout the month of May. To commemorate the completion of the three year levy funded renovation; there will be significant media outreach, informational signage installed throughout the Market detailing the benefits from the renovation and a day of community appreciation. In addition to the completion of renovation we have also seen several transitions in commercial tenant spaces. Bella Umbrella will be occupying the former Swerve space, Los Agaves will be replacing the former Gary’s Tex Mex space and Pike Place Taqueria Y Cantina has plans in moving into the former Pan Africa space (pending Historic Commission approval). US Bank has also informed us of their intent in not renewing their lease in June. We are soliciting interest from a number of various banking institutions to explore possible replacements in maintaining direct banking services in the Market. Several applications have been approved by the Historic Commission for transfer of ownership including Chez Shea, which is being sold to Storyville Coffee from Bainbridge Island, WA. We are also continuing to work on the final design and lease negotiations for a new Italian restaurant on the Hillclimb plaza. Waterfront efforts and planning for PC1N continues to progress. In April we issued an RFQ for architectural services for design and development of PC1N and a recommendation for selection is on the agenda for this months Full Council meeting. Overall business performance in the Market was strong in April with spring break occurring throughout the region and the market experiencing generally warmer weather. KEY OPERATING METRICS

Commercial Tenant Sales as Compared to Previous Year*

Year to Date Sales (February 2012): 3%

Restaurants: 2%

Food: 5%

Mercantile: -1%

Page 2

KEY OPERATING METRICS Continued

Operating Income After Required Reserves and Debt Service:

Annual Goal $725,335

Year to Date: March 2012 $-(122,147)**

Farm and Daystall Attendance

Change from March 2011 to March 2012

Craft 3.79%

Farm 4.49%

*Several charts are also attached highlighting sales trends market wide.

**Due to trending of revenue and timing of annual pension contribution, actual performance is $262,262 over budget.

Operating Income After Required Reserves and Debt Service: Commercial sales for February were up indicating minimal impacts due to renovation as the work wound down. We have continued to see renovation impacts on Residential due to Stewart House. Overall, net results for March 2012 were positive, including strong continuous performance in the parking garage/surface lots and generally lower monthly expenses. Farm and Daystall Attendance February was a good month for both Farm and Craft attendance. Based on an initial survey issued in March, anecdotal sales reports for 2011 compared with 2010 show 39% of craftspeople reporting increased sales, 28% reporting continual sales and 34% reporting decreased sales. FINANCE: Finance and Accounting Department

Completed coordination of annual audit work on-site. Consulted with Arthur J. Gallagher Risk Management Services regarding 2012/13

Insurance. Coordinated on-site credit card sales for Arcade Lights.

Finance Committee

Committee reviewed the 2012 insurance proposal from Gallagher Risk Management. Discussed alternate investment strategies for 5% of the pension fund currently held in

cash. Approved Resolution 12-28 – Insurance Renewal for period May 1, 2012- April 30,

2013

Page 3

PROGRAMS Marketing

Finalized plans for Arcade Lights to be held on April 20th and commenced ticket sales. Promoted market businessess and activities via the website, Facebook, twitter. Finalized plans for “Thanks to You Seattle” post renovation campaign. Nine classes participated in school program in March with a total of 203 students. Also

conducted seven presentations at six elementary schools. Community Outreach

Gave presentations to Market Historic Commission regarding Waterfront Planning. Attended multiple Central Waterfront Committee Meetings. Issued multiple tenant alerts regarding renovation work.

Farm and Daystall

Relocated offices to main PDA office. Began preparations for spring season and events. Coordinated Arcade Lights planning and preparation efforts.

Market Programs Committee - Key Actions and Discussions

Reviewed current research and options for WI-FI in the Market. Discussed Marketing Strategy specifically focusing on Brand, Audience and Messaging. Tabled Resolution 12-27: Authorization for Non-Exclusive Trademark Licensing

Agreement with Starbucks pending further discussion with Starbucks regarding annual fee.

ASSET MANAGEMENT Residential

Continued effort to lease available units that were held for temporary renovation relocations.

Attending Annual Affordable Housing Managers Association Conference week of April 23.

Commercial

Continued working to pursue tenants for available spaces down under. Continued negotiations with Roberto’s Trattoria for Hillclimb plaza space. Silver Slice Bakery, LLC construction of 1500 Western Avenue is nearly complete. They

will be open for full operations in June. Actively seeking potential new bank tenants to replace US Bank. Continued working with new tenants for the top floor of the Economy Building.

Capital Projects

Commenced work on the Maintenance Shop and Leland common area floors. Prepared bids and finalized recommendations for Stewart House hallway carpet and painting.

Page 4

Preparing bids for upgrades to the Skybridge Elevator and Fobs for Sanitary and Triangle Residential.

Parking

Garage revenue for February was up 11% from March 2011. Surface parking lot revenue was down 2% from the same period in 2011.

Maintenance and Facilities Began preparations for summer season. Replanted roof-top planters. Conducted ongoing maintenance, painting, plumbing and electrical.

Renovation Phase 3 of Major Renovation was largely completed in Mid-March. Final Seismic work in the Soames Dunn Building with roof nailing required by the City

underway although multiple rain days in March and April has slowed progress.

Asset Management Committee - Key Actions and Discussion Reviewed “Other PDA Projects” including Soames Dunn tenant space reconfiguration,

Hillclimb planter boxes, Hillclimb seating, Fish Ice melting station and Economy Atrium Demonstration Kitchen.

Reviewed and discussed quarterly Security report. Approved Resolution 12-18: Authorization for Contract Authority – Fabrication of Ice

Melt Tank Approved Resolution 12-19: Authorization for Contract Authority – Install Condenser

Lines to Ice Melt Tank Approved Resolution 12-25: Authorization for Contract Authority – Corner Market

Windowpane Replacement Approved Resolution 12-26: Lease Proposals – April 2012: New Leases: 6H

Consulting – 93 Pike St #312, Bella Umbrella – 1535 1st Ave #8, Pike Place Taqueria Y Cantina – 1521 1st Ave, Los Agaves – 1514 Pike Place Ave #7, Britt’s Pickles – 1506 Pike Place #415. Lease Renewals: Bavarian Meats – 1920B Pike Place, Cedar River Group – 93 Pike St #315, Lisa Harris Gallery – 1922 Pike Place, Lionheart Bookstore – 1501 Pike Place, Maggie’s Shoes – 1927 1st Ave, Market Coins – 1501 Pike Place #422

WATERFRONT REDEVELOPMENT

Continued discussions with the City and Waterfront Team regarding Market roles, PC1N, parking replacement strategy and timelines.

Continued preliminary conversations regarding MOA between the City and the PDA regarding PC1N.

Issued RFQ for Architectural services for PC1N design and development. Attended Waterfront design and planning meetings.

Waterfront Redevelopment - Key Actions and Discussion

To be held on Tuesday, April 24, 2012

Page 5

Will review Proposed Resolution 12-30: Authorization for Contract Authority – Architectural Services – PC1N Design and Development.

ADDITIONAL UPDATES AND ITEMS OF NOTE

Relocated Daystall offices to former conference room location. PDA Employee April Anniversaries:

22 yrs - Greg Bodourian (facilities) 13 yrs - Sabina Proto (management) 7 yrs - B. James Stimac (facilities) 4 yrs - Tad McLees (Information Systems) 3 yrs - Zack Cook (daystall) / Jay Schalow (accounting) 1 yr - Jenn Carlson / Shane Lemanski (parking)

Reported Retail Sales at Pike Place Market

Last 12 Months through February 2012

Summary – General modest growth in food related businesses over last 12 months. February ahead of last year

All Sales 12 MONTHS ending February 2012 (March sales reports due April 25)

CURRENT PRIOR YEAR

Section V:

Resolutions: Consent Agenda & New Business

A. Consent Agenda Action Item: Proposed Resolution 11-101: Further Amendment for Resolution 11-101 – Annual PDA Council and Council Committee Meeting Schedule

Action Item: Proposed Resolution 12-18: Authorization for Contract Authority – Fabrication of Ice Melt Station Action Item: Proposed Resolution 12-19: Authorization for Contract Authority – Install Condenser Lines for Ice Melt Station Action Item: Proposed Resolution 12-25: Authorization for Contract Authority – Corner Market Window Replacement Action Item: Proposed Resolution 12-26: Lease Proposals – April 2012

B. New Business Action Item: Proposed Resolution 12-28: Insurance Renewal period May 1, 2012 – April 30, 2013

Action Item: Proposed Resolution 12-30: Authorization for Contract Authority – PC1-N Architect

Action Item: Proposed Resolution 12-31: Authorization for MOU/MOA *Please Note Resolutions 12-30 and 12-31 will be emailed prior to the PDA Full Council meeting


Amended (April 2012) RESOLUTION 11-101:

Annual PDA Council and Council Committee Meeting Schedule

DECEMBER 2011

WHEREAS, the PDA Council and Council Committee meeting schedule is currently determined by setting the meeting of the full PDA Council generally on the last Thursday of each month with standing Committee meetings scheduled prior to that date throughout the month as follows:

Waterfront Redevelopment:

1st Tuesday of the Month – 5:00 pm to 6:00 pm 3rd Thursday of the Month – 5:00 pm to 6:00 pm




Executive: Wednesday, One week prior to PDA Council – 4:30pm to 5:45pm

WHEREAS, certain Council and Committee meeting dates have been adjusted for holidays, which will include;

September Finance Committee – September 25th November Executive Committee – November 14th December Executive Committee – December 12th December Full PDA Council Meeting – December 20th

NOW THEREFORE BE IT RESOLVED, that the PDA Council hereby further amends its meeting schedule by setting the meetings for the year (an example of which is attached to this resolution as Exhibit A – 2012 PDA Council and Council Committee Meeting Calendar). ______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date


Proposed Resolution 12-18

Authorization for Contract Authority – Fabrication of Ice Melt Tank

April 2012 WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was

chartered by the City of Seattle pursuant to RCW 35.21.730 et. Seq with the mission of promoting enterprises essential to the functioning of the Pike Place Market, including the preservation and expansion of the low-income residential community, the promotion and survival of small businesses , and the expansion of services to the public market and community; and,

WHEREAS, in order to maintain the viability of the Pike Place Market buildings the PPMPDA has

determined that the installation of an ice thaw melt tank running in conjunction with the PDA HVAC Plant will provide significant savings and provide additional energy efficiency to the central plant.

WHEREAS, the PPMPDA has executed a competitive bid process to fabricate a stainless steel ice

melt tank. BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee

to enter into a contract with Ballard Sheet Metal Works, Inc. in an amount not to exceed $32,028.75, for the execution of fabricating an ice melt tank.

The funds for this project will be drawn from “Other Projects.” Accounting Code 110325-00. ______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Opposed: Abstained:


Proposed Resolution 12-19

Authorization for Contract Authority – Install Condenser Lines to Ice Melt Tank

April 2012

WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was



determined the installation of an ice melt tank running in conjunction with the PDA HVAC plant will provide significant savings and provide additional energy efficiency to the central plant.

WHEREAS, the PPMPDA has executed a competitive bid process to run condenser piping to the ice

melt tank. BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee

to enter into a contract with Merit Mechanical, Inc. in an amount not to exceed $22,129.07 for the execution of installing condenser lines to the ice melt tank.

The funds for this project will be drawn from the “Other Project.” Accounting Code 110325-00 ______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Opposed: Abstained:


Proposed Resolution 12- 25

Authorization for Contract Authority – Replace Failed Windowpanes at South and West Elevations – Corner Market

April 2012

WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was



determined that a number of windowpanes have failed at the South and West elevations and need to be replaced;

WHEREAS, the PPMPDA has executed a competitive bid process for replacing the failed

windowpanes. BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee

to enter into a contract with Herzog Glass in an amount not to exceed $33,230.95 for the execution of replacing the failed windowpanes.

The funds for this project will be drawn from the Capital Projects Budget, Paint Underside of Skybridge Accounting Code 163710-00 ______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Opposed: Abstained:


PROPOSED RESOLUTION 12-26:

Lease Proposals

APRIL 2012

Tenant Term Start Date 6H Consulting / Paul Neal 5 Year May 1, 2012 Bella Umbrella / Jodell Egbert 3 Years April 27, 2012 Los Agaves / Sophia Mendez & Jaime Mendez 1 Year May 2, 2012 Pike Place Taqueria Y Cantina 3 Years May 1, 2012 Britt’s Pickles/Kansha Natural Foods, LLC 1 Year May 10, 2012 Bavarian Meats / Lynn Hofstatter & Lyla Ridgeway 5 Years June 1, 2012 Cedar River Group / Thomas Byers & John Howell 3 Years April 1, 2012 Lisa Harris Gallery / Lisa Harris 5 Years March 1, 2012 Lionheart Bookstore / David Ghoddousi 5 Years March 1, 2012 Maggie’s Shoes / Maggie Tsang & Tak Tsang 5 Years May 1, 2012 Market Coins / Darrell Strand 3 Years May 1, 2012 ______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained:


RESOLUTION 12-28:

Insurance Renewal and Premium Payments

APRIL 2012

WHEREAS, the PDA is responsible for obtaining insurance coverage for its Pike Place Market properties , and for the property managed by the PDA in the Market Historic District, the LaSalle Senior Housing LLC.

WHEREAS, the PDA Finance Committee has been presented the renewal package for the 2012-

2013 property and liability insurance coverage for both the Pike Place Market PDA, and the property managed by the PDA in the Market Historic District.

NOW, THEREFORE BE IT RESOLVED, that the PDA Council hereby authorizes the PDA Executive Director, or his designee, to approve policy terms and conditions and to pay the premiums and brokerage fees not to exceed $525,000 for the coverage period May 1, 2012 through April 30, 2013. AND BE IT FURTHER RESOLVED, that the PDA Council hereby authorizes the continuation of the brokerage representation and services provided by Arthur J. Gallagher Risk Management Services, Inc.

______________________________________ _______________________________ Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Opposed: Abstained:

Additional Enclosures:

WRC Meeting Minutes – March 22nd, 2012

Asset Management Meeting Minutes – April 9th, 2012

Market Programs Meeting Minutes– April 12th, 2012

Finance Meeting Minutes– April 17th, 2012

Executive Meeting Minutes –April 18th, 2012


WATERFRONT REDEVELOPMENT COMMITTEE (WRC) Draft Meeting Minutes – March 22nd 2012

Tuesday March 22nd, 2012

5:00 p.m. to 6:00 p.m. Atrium Conference Room Committee Members Present: Jackson Schmidt, Gloria Skouge, Bruce Lorig Other Council Members Present: Ann Magano, Jim Savitt

Staff Present: Ben Franz-Knight, Ryan Yale, Jennifer Maietta, Dianna Goodsell Others Present: Peter Steinbrueck, Bob Messina The meeting was called to order at 5:01 by Jackson Schmidt, Chair. I. Administrative

A. Approval of Agenda The agenda was approved by acclamation.

B. Approval of March 6th, 2012 Minutes The minutes were approved by acclamation.

C. Announcements and Community Comments Bob Messina commented on the PC-1 design drawings, expressing that many of the drawings illustrated a

finished product with several layers of the design left to be envisioned. He suggested he would like to have SDOT return to WRC to present alternative views of the Alaskan roadway structure that have not been showed before including: detailed topography, elevation and shadowing of the design.

II. Presentations and Discussion

A. Update on Design Collaboration Efforts Ben updated the committee on the progress of the PC-1 design collaboration efforts. He stated that the last few weeks have been very busy in the involvement of PC-1 plans. He noted there have been positive discussions with the City regarding the overall design roles for PC-1 and moving forward. He added that there was a presentation given to the Design Oversight Committee for the central waterfront. They discussed with the Design Oversight Committee the site analysis for PC-1, their rational related to the importance of PC-1, the building program and Hillclimb. Ben noted that at the presentation, there was pretty clear direction for WRC and the Aquarium to really collaborate with the design teams to further the vision of the various spaces with the Aquarium. He added that the WRC is now in the position to go back to the design team and start working on moving from the site analysis to more formal design, which will be a whole community process. By next week at the Full Council meeting, Ben noted that WRC can provide a more comprehensive update about PC-1 and the next steps in going forward. There was a significant update regarding the GCCM Certification. Ben and several members were joined together with the State Review Board for utilizing the GCCM procurement process and moving forward with the design and development process of PC-1.Ben added the importance of the GCCM Certification,

Waterfront Redevelopment Committee 2012

Page 2


which will allow more flexibility regarding approvals for the future. He noted that the State has an allotment of funds available to address parking mitigation in relation to the demolition of the Viaduct. There has been approximately 10 million dollars of funds identified directly for the construction of a new parking facility by the City. Ben commented that we are in a great position to realize the goal of seeing early replacement parking on the PC-1 site, which would offset the impacts of construction and the loss of the Aurora and Blanchard lots. Jackson commented on the presentation given by Ben, Ken Johnson and Joe Parr for the State Review Board, stating it was elegant, simple and straight forward. He added he couldn’t have been more pleased with the job they did. Peter added that he thought the meeting with the Co-Chairs of the Waterfront Stakeholders Committee was probably the first time there was opportunity to directly discuss the Market’s perspective on goals for PC-1 and to an extent issues revolving around the size, scale, and character of the fold. He added that the Market’s interest was certainly conveyed at the meeting including responsibility of control, design and development of the site. Peter also updated the committee on development from the Aquarium. He said the Aquarium has been moving forward with their conceptual plans and have been placing substantial effort with the fold design concept. Ben added that he wanted to make sure the committee was aware about a letter the Historical Commission sent out, which would be circulated to all members of the Council. He lastly updated the committee about the shift in language by the City in reference to the fold, now referring to the space between the Aquarium and the Market as a “Connector”.

III. Next Steps Jackson discussed the next steps for WRC including crafting the MOU and diligently working on additional design work with the architects to be on pace by June. He added funds would need to be authorized to complete the design work. Ben added that the committee should provide a thorough overview to Council of all the work they have completed these last couple of months.

IV. Other Reports and Action Items Closed session began at 5:19 p.m. Draft MOU between the City and PDA (Closed Session Per (RCW 42.30.110(I)(b)) Closed session ended at 5:53 p.m. V. Concerns of Committee Members None VI. Public Comment

None

VII. Adjournment The meeting was adjourned at 5:55 p.m. by Jackson Schmidt Meeting minutes submitted by: Dianna Goodsell, Administrative Services Coordinator


ASSET MANAGEMENT COMMITTEE Draft Meeting Minutes

Monday April 9th, 2012

4:30 p.m. to 6:00 p.m. Atrium Conference Room Committee Members Present: Patrick Kerr, John Finke, Jill Andrews, David Ghoddousi, Bruce Lorig Other Council Members Present: Gloria Skouge Staff Present: Ryan Yale, John Turnbull, Jennifer Maietta, , Steve Nelson, Joe Parr, Bob Beckstrom, John Macklin, Brittany Farrow, Matt Holland, Dianna Goodsell Others Present: The meeting was called to order at 4:30 p.m. by Patrick Kerr, Chair I. Administration

A. Approval of Agenda. The agenda was approved by acclamation

B. Approval of March 12th, 2012 Minutes The minutes were approved by acclamation.

C. Announcements and Community Comments None

II. Levy Phase III Update

Joe Parr updated the committee on the status of Levy Phase III. . Overall, he stated we are half way through project. He noted that there was discovery of structural rotting under IL Bistro, which is being corrected. There is also Seismic and structural work in progress in the Soames Dunn Building. He concluded that there will be more concentration placed on addressing the Leland and Fairley windows; he is anticipating the starting date of these projects after Labor Day. A question and answer period followed

III. Key Issues &Discussion Items A. Update on Proposed Capital Projects I. Soames Dunn Reconfiguration-

John Turnbull handed out a design layout for the Soames Dunn reconfiguration. He stated that The Knife Shop has been extended 8 feet, extending in the frontage for retail space and sacrificing some seating in the back.

Asset Management Committee 2012

Page 2 A brief question and answer period followed

II. Hillclimb Planter Boxes- John Turnbull handed out potential design sketches for the Hillclimb Planter Boxes. He stated he is still creatively working on design for the planter boxes and suggested ideas for 40 individual planter box units.

III. Public Seating for Hillclimb -

John mentioned wanting to purchase additional seating for Hillclimb. He passed out designs for the Hill Climb Public Seating.

IV. Economy Atrium Demonstration Kitchen Update -

John Turnbull discussed the updates regarding the Economy Atrium demonstration kitchen. He handed out a discussion draft letter for the Kitchen proposal. He noted he was approached by a group called Leadership Tomorrow. Leadership tomorrow said they would like to help with the kitchen model. The group would like to do a presentation demo on May 7th. He has received a drafting budget and business plan, which is estimated around $360k in costs plus operating expenses. He concluded that there seems to be a pretty good demand for the kitchen and mentioned plans in getting the project ready for the summer, pending permit approvals.

V. Fish Ice Melting Station- Action Item(s) Action Item: Proposed Resolution 12-18: Authorization for Contract Authority – Fabrication of Ice Melt Tank Steve Nelson introduced the resolution which proposes that the PPMPDA has determined that the installation of an ice thaw melt tank running in conjunction with the PDA HVAC Plant will provide significant savings and provide additional energy efficiency to the central plant. The PPMPDA has executed a competitive bid process to fabricate a stainless steel ice melt tank. It was requested that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with Ballard Sheet Metal Works, Inc. in an amount not to exceed $32,028.75, for the execution of fabricating an ice melt tank.

The funds for this project will be drawn from “Other Projects.” Accounting Code 110325-00.

John moved, Bruce seconded Approve: Patrick Kerr, David Ghoddousi, Jill Andrews, John Finke, Bruce Lorig Against: 0 Abstain: 0


Action Item: Proposed Resolution 12-19: Authorization for Contract Authority – Install Condenser Lines to Ice Melt Tank Bob Beckstrom Introduced the resolution which proposes that the PPMPDA has determined the Market House Residential Elevator Cab needs to be modernized. The PPMPDA has executed a competitive bid process to modernize the elevator cab. It was requested that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with Schindler Elevator Corporation in an amount not to exceed $15,123.70, for the execution of modernizing the Market House elevator cab in the Pine Building.

John moved, Bruce seconded Approve: Patrick Kerr, David Ghoddousi, Jill Andrews, John Finke, Bruce Lorig Against: 0 Abstain: 0


B. Security- Quarterly Report

John Macklin presented the Quarterly 2012 Security report which included an itemization of activities reported to security. The security report was divided into 8 documented categories including: PDA Assistance, Medic 1/First Aid Responses, Construction Assists/Access Granted, Drug Activity,



Page 3 Disturbance, Equipment Check, Lock Ups and Escorts. He summarized the presentation by noting 2 fluctuations of reported events in the Construction Assists/ Access Granted and Drug Activity categories. John stated there was a drastic decrease in construction assists due to the conclusion of Renovation. He also stated that there was a drastic increase of hard drug use in the market. The escalation of drug use incidents reported has been correlated with the opening of the additional bathrooms added to the Market. John specifically stated there was increased drug use in the Sanitary Market restrooms. Patrick inquired about staffing arrangements and accommodations for security at the Market. John commented he will be adding a new security shift by the end of the month, totaling 4 shifts. Patrick asked if the 19 security employees were enough to address the Market’s security needs. John replied that he prefers to have 5-7 employees on staff for each security shift. Steve added that there is a No Tolerance policy in the Market, indicating no warnings to offenders. He stated that the overall goal is to create an environment where the offenders are not tempted to do anything illegal and destructive to the Market.

A discussion then followed

IV. Action Item(s)

A. Action Item: Proposed Resolution 12-25: Corner Market Windowpane Replacement Tyler introduced the resolution which proposes that the PPMPDA has determined that a number of windowpanes have failed at the South and West elevations and need to be replaced. The PPMPDA has executed a competitive bid process for replacing the failed windowpanes. It was requested that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with Herzog Glass in an amount not to exceed $33,230.95 for the execution of replacing the failed windowpanes. The funds for this project will be drawn from the Capital Projects Budget, Replace Failed Windowpanes at South and West Elevations Accounting Code 163703-00

David moved, Bruce seconded Approve: David Ghoddousi, Jill Andrews, John Finke, Bruce Lorig Against: 1 Abstain: 0


There was a discussion that followed.

V. Property Management

A. Residential Property Management Report John Turnbull briefly discussed the Residential Management Report. He stated that there has been increased move-ins this month due to the renovation completion. He added that they want to add a 20 year contract with HUD. Overall, the staff is trying to work on the communal areas including purchasing new furniture.


B. Closed Session (RCW 42.30.110 [c]) i. Review of Lease Proposals ii. New Lease - 6H Consulting - 93 Pike St #312

New Lease - Bella Umbrella - 1535 1st Ave #8 New Lease - Pike Place Taqueria Y Cantina - 1521 1st Ave New Lease - Los Agaves - 1514 Pike Place Ave #7 New Lease - Britt’s Pickles - Pike Place #415 Lease Renewal - Bavarian Meats - 1920B Pike Place Lease Renewal - Cedar River Group - 93 Pike St #315 Lease Renewal - Lisa Harris Gallery - 1922 Pike Place Lease Renewal - Lionheart Bookstore - 1501 Pike Place Lease Renewal - Maggie’s Shoes - 1927 1st Ave



Page 4


Lease Renewal - Market Coins - 1501 Pike Place #422 iii. Review of Delinquency Report

a) Vacancy Report b) Current Lease Negotiations

C. Open Session: Approval of Lease Proposals

Closed session ended at 5:55p.m.

D. Action Item: Proposed Resolution 12-26: Lease Proposals - April 2012: Jennifer introduced the resolution which states the Lease Proposals for April 2012 below: 6H Consulting / Paul Neal 5 Years May 1, 2012 Bella Umbrella / Jodell Egbert 3 Years April 27, 2012 Los Agaves / Sophia Mendez & Jaime Mendez 1 Year May 2, 2012 Pike Place Taqueria Y Cantina 3 Years May 1, 2012 Britt’s Pickles/Kansha Natural Foods, LLC 1 Year May 10, 2012 Bavarian Meats / Lynn Hofstatter & Lyla Ridgeway 5 Years June 1, 2012 Cedar River Group / Thomas Byers & John Howell 3 Years April 1, 2012 Lisa Harris Gallery / Lisa Harris 5 Years March 1, 2012 Lionheart Bookstore / David Ghoddousi 5 Years March 1, 2012 Maggie’s Shoes / Maggie Tsang & Tak Tsang 5 Years May 1, 2012 Market Coins / Darrell Strand 3 Years May 1, 2012

Bruce moved, Gerry seconded Approve: Patrick Kerr, David Ghoddousi, Jill Andrews, John Finke, Bruce Lorig Against: 0 Abstain: 0

Resolution 12-26 passed unanimously. David Ghoddousi abstained from voting for the Lionheart Bookstore lease renewal section only

V. Items for the Consent Agenda

Resolutions 12-18, 12-19, 12-25 and 12-26 were moved to the Consent Agenda

VI. Public Comment

Buddy Foley addressed his concerns regarding the Renovation process and its impacts on the Stewart House building and tenants. He stated there were problems with the moving process, citing damages to the tenant’s personal items. He also noted an issue with a security procedure, explaining how tenants do not wish to have their window shades pulled down after hours. He lastly stated he felt the Stewart House Tenants do not participate in the Council meetings due to a fear of retaliation.

VII. Adjournment

The meeting was adjourned at 6:08 p.m. by Patrick Kerr


MARKET PROGRAMS COMMITTEE Draft Meeting Minutes

Thursday April 12th, 2012 4:00 p.m. to 6:00 p.m. Atrium Conference Room Committee Members Present: Bruce Burger, Ann Magnano, Jill Andrews, John Finke, Jackson Schmidt, Gloria Skouge Other Council Members Present: Staff Present: Ben Franz-Knight, Kelly Lindsay, Ryan Yale, Scott Davies, Teri Wheeler, Scott Davies, David Dickinson, Ryan Hostetler, Sue Gilbert Mooers, Molly Kirk, Dianna Goodsell Others Present: Ernie Sherman The meeting was called to order at 4:02 p.m. by Bruce Burger, Chair. I. Administration

A. Approval of Agenda The agenda was approved by acclamation

B. Approval Market Programs Minutes of March 8th, 2012 Minutes.

The minutes were approved by acclamation.

C. Announcements and Community Comments There has been a schedule change for the next Market Programs Committee meeting. The new meeting date is now Wednesday May 9th, 4-6pm.

II. Wi-Fi

A. Update & Discussion of Potential Uses Ryan Yale gave an introductory presentation of bringing Wi-Fi to the Market. His presentation incorporated key topics including: a) Wireless Fidelity: How Wi-Fi works, logistics and technology b) Obstacles: Limited infrastructures, current broadband/conduit capabilities, build out for future uses

including initial costs, Wi-Fi range and use, and Wi-Fi potential for PC-1. c) Opportunities: enhance revenue and opportunities for tenants, public access and tenant specific

services, advertising/marketing prospects, branded browser and user experience. d) Visitors of the Market: Ease of use/access, seamless interaction, length of access, way finding e) Vendor/Tenant Impact: fees/costs, monitoring usage, security, bandwidth, Bing App f) Funding: PDA costs, government grants, sponsorship

g) Timeline: minimal service/ hotspots allow 2 months, moderate service/limited bandwidth allow 3-4 months, maximum service/complete coverage allow 1 year.

h) Next Steps: Cost vs. Service, vendor/tenant involvement, visitor experience, return on investment, opportunities

There was a large discussion that followed the presentation.

III. Marketing Strategy A. Overview, Brand, Audience & Messaging

Kelly gave a presentation overviewing the 2012 Strategic Issues Marketing Strategy. She had focused on 3 of the 6 Marketing Strategy Assessment topics presented at last month’s meeting, in which she will present the remaining 3 topics at the next month’s meeting. Her presentation concentrated on the Brand Identity, Target Audience and Key Messages designed for the Market. Listed below are several key topics from her presentation: a) Brand Identity: Voice, Image, History b) Target Audiences: downtown residents/workers, Seattle residents, regional residents, tourists c) Key Messages: welcoming to all income levels, accessibility for regular shopping/dining, culinary

destination, living history, supportive to merchants/farmers/tenants and residents.

There was a large discussion that followed the presentation.

IV. Events A. Post-Renovation PR Campaign

Kelly stated it has been a very busy month. She announced we are two weeks away from launching the “Thank you Seattle” campaign. She added that the campaign will be launching on April 26th and continue throughout the month of May. To celebrate the completion of the 3 year levy funded renovation, there will be substantial media tours and a day dedicated to community appreciation. She also discussed PRR’s plans in displaying installations of informational signage throughout the Market in signifying the benefits from renovation. The installations will provide before and after imagery of the renovation changes.

V. Marketing Director’s Report

A. Arcade Lights Kelly briefly updated the committee on the upcoming Arcade Lights Event. She stated so far about 300 tickets have been sold, which is a great response comparable to last year’s figures. She announced a reminder to purchase tickets before they sell out. She added that she may request Ryan Hostetler to come back to the committee and share the results from the event.

B. Farm Season Marketing

Kelly briefly mentioned the Farm Season Marketing season has started. She added that we will keep the same advertising agency as last year to continue the relationship. She will be updating on the progress of this campaign as efforts continue.

C. Events Calendar

Kelly noted that there was an observation made regarding the absence of a crafts festival at the Market. After consideration, the Fruit festival has exited from the events calendar. Kelly added that a craft focus festival will be added to the events calendar, TBD Oct 6-7th. . She mentioned she is planning to have discussions with the craft community to see what ideas they have in terms of the craft focused festival.

VI. Daystall Manager’s Report

A. WSU Hmong Farmer’s Survey Teri Wheeler handed out the Hmong Farmer Focus Group Methods Report to the committee. She stated she was very pleased with the turnout. She briefly reviewed the Hmong Farmer Focus Methods Report with the committee.

B. Daystall Stakeholder’s Survey Terri Wheeler handed out a copy of the 2012 Daystall Stakeholder’s Survey. She noted that the actual results will not be determined until many months out. She added she was very optimistic with the turnout



of surveys returned. There were 12 out of 80 Farmers, 85 out of 225 craftspeople and 35 out of 400 buskers’ that responded back. There was a question and answer period.

VII. Action Items

A. Action Item: Proposed Resolution 12-27: Authorization for Non-Exclusive Trademark Licensing Agreement with Starbucks Coffee Company Sue introduced the resolution which proposes that Starbucks Coffee Company wishes to renew their trademark licensing agreement for Pike Place Roast (set to expire January 17, 2012), that allows them to make use of the Pike Place Market name and trademark in connection with a Pike Place Market coffee blend named Pike Place Roast. Starbucks Coffee Company agrees to pay the PDA $100, 000 to be paid in annual installments of $20,000, with the first payment due on the effective date of the Agreement and the remaining payments due one calendar year from the date upon which the previous payment was made; and. Starbucks Coffee Company further agrees to make a donation of $25,000 to the Market Foundation which will be distributed in an annual donation of $5,000 to the Pike Place Market Farmer Relief Fund, with the first payment due on the effective date of the Agreement and the remaining payments due one calendar year from the date upon which the previous payment was made. There was a discussion that followed. Proposed resolution 12-27 had been removed from the agenda and will be presented at a later date.

VIII. Consent Agenda-Resolution(s)

None IX. Concerns of Committee Members

None

X. Public Comment XI. Adjournment The meeting was adjourned at 6:01pm by Bruce Burger, Chair Meeting minutes submitted by: Dianna Goodsell, Administrative Services Coordinator


FINANCE COMMITTEE Draft Meeting Minutes

Tuesday, April 17th 2012

4:30 p.m. to 6:00 p.m. Atrium Conference Room

Committee Members Present: Matt Hanna, Bruce Lorig, Ann Magnano, David Ghoddousi, Gloria Skouge Other Council Members Present: Staff Present: Ben Franz-Knight, Jay Schalow, Dianna Goodsell Others Present: Mike Temple, Michael Kelly, Joan Paulson This meeting was called to order at 4:32 by Matt Hanna, Chair Others Present: I. Administration


B. Approval of March 20th , 2012 Minutes The minutes were approved by acclamation.

C. Announcements and Community Comments

None II. Presentation of the Property and Liability Insurance Renewal from the representatives of

Arthur Gallagher Ben gave a brief introduction to Mike Temple and Michael Kelly of Arthur J. Gallagher & Company. He commended them on their hard work and stated it has been a pleasure working with them. Mike Temple also announced his plans for retirement at the end of the year.

Michael Kelly handed out the 2012 Insurance Proposal Executive summary. He said the improvements

made in the last 3years from the Renovation have helped with reducing general liabilities. The Insurance Proposal concluded:

The property premium increased while the general liability decreased. The net increases in overall premiums were slightly up compared to 2011 with an actual increase

of $9072. There will continue to be turmoil in next year’s Earthquake rates.

Finance 4/23/2012 Page 3

The Capital Reserve Status Report represents the amount contributed to the reserve, and the amount spent year to date out of the capital reserve. Status of the Capital Projects shows the update of the work performed and the funds spent for the Capital Projects approved I the budget. A question and answer period followed.

Ben briefly discussed about the parking garage agreement with the City. He said he is approaching an agreement by the state, which will be discussed in Asset Management and Finance committees correspondingly. He discussed the potential benefits from the agreement and informed the committee that he will soon have a preliminary estimate of hard costs.

B. Checking Account Accountability The Checking Account Activity Report was distributed to Dianna Goodsell, Administrative Services Coordinator.

IV. Other Reports and Action Items

Action Item: Proposed Resolution 12-28: Insurance Renewal and Premium Payments Jay introduced the resolution which proposes the PDA Finance Committee has been presented the renewal package for the 2012-2013 property and liability insurance coverage for both the Pike Place Market PDA, and the property managed by the PDA in the Market Historic District. It was requested that the PDA Council hereby authorizes the PDA Executive Director, or his designee, to approve policy terms and conditions and to pay the premiums and brokerage fees not to exceed $525,000 for the coverage period May 1, 2012 through April 30, 2013 and that the PDA Council hereby authorizes the continuation of the brokerage representation and services provided by Arthur J. Gallagher Risk Management Services, Inc.

David moved, Bruce seconded Approve: Bruce Lorig, Gloria Skouge, Matt Hanna, David Ghoddousi, Ann Magnano Against: 0 Abstain: 0

Resolution 12-28 passes unanimously

V. Staff Reports A. Discussion about changes on the investment portfolio of the PDA Retirement Plan

Ben briefly discussed his meeting last month with our broker. They reviewed the performance of the Investment Portfolio from the last year in reference to the PDA Retirement Plan. Ben noted there were conversations about looking for ways to improve the overall performance of the investment portfolio. The brokers had identified we are holding around 5% in cash in the portfolio, which in theory would help accommodate employees for future loans. The brokers thought the 5% held in cash was more than adequate. Matt said he was in favor in Investment allocation; he wanted to have consensus with the committee for authorization to have Ben talk with the advisors about other options.

A discussion then followed

VI. Items for the Consent Agenda VII. Public Comment

None VIII. Concerns of Committee Members IX. Adjournment



D&O, Fidelity, and Fiduciary renewals are not included in this specific proposal as they renew August 1, 2011. Expiring premiums are $10,690, $921 and $1259 respectively. They do not expect to see a variance.

Total premiums and fees for 2012 should not exceed $525,000

There was a discussion regarding increasing Earthquake Insurance Coverage. Bruce suggested in increasing the earthquake insurance coverage to 30 million. Mike Temple had said 25 million in Earthquake insurance coverage would be practical. Ann had commented she was not comfortable in rushing in the decision of increasing earthquake coverage amounts. She would like to have this issue discussed at Full Council.

There was also a discussion regarding Industry pricing standards for Liability Insurance. Matt suggested it would be ideal to have Mike and Michael provide additional background regarding their fee structures for the future. Mike and Michael stated they would initially like to collect their thoughts and return to the committee with a formal response.

A brief question and answer period followed

III. Review of Financial Statements for March 2012

A. PDA Operating Statements Jay reported on the Operating Statements in place of Sabina’s absence. He discussed the Balance Sheet and PDA Operating Statement that were reported at the April 17th, 2012 PDA Finance Committee Meeting and stated that: The Current Assets decreased mainly in the Unrestricted Cash category, which was higher at the end of February. The Current Assets also decreased in the Miscellaneous Receivable category due to the amount reimbursable from the City of Seattle which was lower in March compared to February. The Designated Cash decreased because of the withdraw from the PDA Other Funds Reserve for the work done on the Stewart House Building. The Restricted Cash increased due to the contribution to Turner Construction Retainage and Debt Service accounts. The Current Liabilities decreased mainly in the Other Liabilities category due to the payment of the Pension Plan amount approved by the Council for the year end 2011. The Long Term debt decreased due to the monthly payments on loans, mortgage and bonds. He added that our Net Operating Capital increased overall while our Current Operating Result increased from the prior month. The Levy Funds currently received is $ 62.9 million, and the amount received in 2012 YTD is $4.4 million. The Accounts Receivable Activity Report saw a slight increase in account receivables in March, because of the higher attendance of farmers and Daystall vendors. Jay reported that the Total Revenue for the end of March 2012 was $3,115,527, or over budget by $53,559, while the Total Operating Expense was $ 2,304,114 or under budget by $208,696. The Net Operating for the end of March is $811,413, which means $262,255 over budget. The Net Result after Debt Service & Reserves Annual Budget is $725,335 and the actual YTD is -$122,147. Jay presented the Revenue in the Operating Statement and stated that the Commercial Revenue is over budget by $22,793 as result from the unanticipated impact of Phase III of Renovation. He added overall there was good performance of the Percent Rent. He stated the Residential Revenue is under budget because of the vacancies in the Stewart House Building. He reported that The Daystall and Surface Revenue is on track overall and the Garage Revenue is over budget which is better than expected. He added that the revenue for the North Arcade Lights Event will be flowing in April, but in the budget trending was planned for March. Other Miscellaneous Revenue is over budget due to a one time contribution from Chase Bank in the amount of $150k. The amount recognized for the year 2012 is $30K. He explained the amount was not budgeted because it was not known at the time of Budgeting. Jay stated that the Operating Expenses are under budget in the majority of all the departments. He reported there have been some staffing vacancies, as well as the timing of invoices was different from the budget trending. He added that the Percent Rent spreadsheet presents the performance of the percent rent, concluding the performance is good in this category over budgeted by $31k YTD.




Meeting was adjourned at 5:30 p.m. by Matt Hanna Chair. Meeting minutes submitted by: Dianna Goodsell, Administrative Services Coordinator


EXECUTIVE COMMITTEE Draft Meeting Minutes

Wednesday April 18th, 2012 4:30 p.m. to 5:45 p.m. Atrium Conference Room Committee Members Present: Bruce Burger, Matt Hanna, Patrick Kerr, Jill Andrews Other Council Members Present: Staff Present: Ben Franz-Knight, Dianna Goodsell Others Present: Ernie Sherman The meeting was called to order at 4:34 p.m. by Patrick Kerr I. Administration


B. Approval of February 15th, 2012 Minutes.

The minutes were approved by acclamation. C. Announcements and Community Comments

None

II. Council Chair’s Report None

III. Committee Chair’s Report A. Asset Management

Patrick gave an update on the Asset Management Committee. He stated there was a review of other PDA Projects including the Soames Dunn tenant space reconfiguration, Hillclimb planter boxes, Hillclimb seating, Economy Atrium Demonstration Kitchen and the Fish Ice Melting station. Patrick added that most of the projects will have a resolution by next month. Patrick briefly discussed the quarterly security report and the issue of increased drug use in the new bathrooms. Patrick concluded with the review of the Residential Management Report.

B. Finance

Matt gave an update on the recent Finance committee meeting. He stated that meeting was primarily focused on the Insurance Brokers presentation given by Mike Temple and Michael Kelly. Matt discussed a few key points that emerged from the presentation:

1. There is trending right now for larger increases in premiums; because we made extensive improvements during renovation it has offset the change in premium costs.

2. Earthquake damage assessment: Possibility in increasing to 30 Million coverage, which would align with industry standards. There was a request to estimate costs for the 5 million additional earthquake coverage through the insurance brokers. Resolution 12-28 was passed; if we decide to change the estimated amount of insurance coverage we would need to amend the resolution.

3. Apparently the brokers have charged a flat fee for several years and do not collect commission on their services. They have suggested in looking at updated pricing options. They have charged other companies a standard industry rate. Ben mentioned at next month’s meeting we can review the rates for Insurance brokerage services.

There was discussion about involving further coordination and communication within the committees. Matt brought up a concern about the lack of input and ability to shape various projects from other committees. He suggested having a report available about any resolutions to be presented at the Finance Committee. Ben mentioned using the Executive Committee to go through the Consent agenda

C. Market Programs Bruce reported on the Market Programs meeting. He stated there was a presentation from Kelly reviewing the first half of the Marketing Strategy: Brand, Audience and Message. Bruce added that there was a presentation of integrating Wi-Fi in the Market. He noted there was a discussion regarding further review of trademark fees with Starbucks. He concluded that the upcoming topics for the next meetings include the Bing App, social services, and the commercial demonstration kitchen.

D. Waterfront Redevelopment Ben reported there have been discussions for an MOU/MOA for the City. He also noted he has held interviews today for Architect’s for the project, in which by next Tuesday the chosen candidate will be announced. He discussed the parking garage agreement with the City and their investment to help offset any potential losses. He stated preliminary figures, with an estimated risk of $30,000 for the Market with the 6 month agreement, assuming the same usage of the parking garage.

IV. Executive Director’s Report

Ben reported that the “Thank you Seattle” campaign kicks off Next Thursday, April 26th continuing throughout May. The campaign will give thanks to the residents, partners, vendors, council members, tenants and everyone who was involved with the project. He added that everything seems to be moving along accordingly and that renovation is largely complete. Ben concluded that the final Seismic work in the Soames Dunn Building and roof nailing required by the City has been impacted by the weather, resulting in slower progression.

V. Other Reports and Action Items

A. Action Item: Proposed Resolution 11:101: Amended April 2012 Resolution 11-101 – Annual PDA Council and Council Committee Meeting Ben introduced the resolution which proposes that the PDA Council and Council Committee meeting schedule is currently determined by setting the meeting of the full PDA Council generally on the last Thursday of each month with standing Committee meetings scheduled prior to that date throughout the month as follows:

Waterfront Redevelopment: 1st Tuesday of the Month – 5:00 pm to 6:00 pm 3rd Thursday of the Month – 5:00 pm to 6:00 pm




Executive: Wednesday, One week prior to PDA Council – 4:40pm to 5:45pm

Certain Council and Committee meeting dates have been adjusted for holidays, which will include;

September Finance Committee - September 25th November Executive Committee - November 14th



December Executive Committee - December 12th December Full PDA Council Meeting - December 20th

It was requested that the PDA Council hereby amends its meeting schedule by setting the meetings for the year.

Matt Hanna moved, Jill Andrews seconded For: Jill Andrews, Bruce Burger, Matt Hanna, Patrick Kerr Against: 0 Abstain: 0



B. Union Contract Negotiations - Update (Closed Session Per (RCW 42.30.110(I)(b))

Closed session ended at 5:41 p.m. VI. Items for the Consent Agenda

Resolution 11-101 was moved to the Consent Agenda VII. Public Comment

None

VIII. Concerns of Committee Members None

IX. Adjournment The meeting was adjourned at 5:43 pm by Patrick Kerr Meeting minutes submitted by: Dianna Goodsell, Administrative Services Coordinator

Documents

PDA Council - Meeting Agenda MINUTES/20… · C. Committee Chair Report Bruce Burger commented on the timeline regarding the Marketing Strategy with Market Programs. At the March