PDA Council Meeting Agenda

Transcription

1 PDA Council Meeting Agenda Date: Thursday, July 30, 2015 Time: 4:00 p.m. 6:00p.m. Location: The Classroom Committee Members: Matt Hanna (Chair), Patrick Kerr (Vice-Chair), Gloria Skouge, David Ghoddousi, James Savitt, Jackson Schmidt, John Finke, Bruce Burger, Ann Magnano, Betty Halfon, Patrice Barrentine and Rico Quirindongo 4:00pm I. Administrative: A. Approval of Agenda B. Approval of the PDA Council Meeting Minutes for June 25, 2015 Chair 4:05pm II. Public Comment Including the Market Community 4:20pm III. Programs and Information Items A. Council Chair Report B. Executive Director s Report I. Committee Chair Report C. Other Reports Matt Hanna Ben Franz-Knight 4:30pm IV. Key Issues Presentation and Discussion Items A. WISErg Harvester Update Tamra Nisly & John Turnbull 4:50pm V. Resolutions and Other Action Items (Old and New Business) A. Consent Agenda B. New Business Proposed Resolution 15-45: Authorization for New Bank Accounts - US Bank Corporate Trust Proposed Resolution 15-48: Pike Place Market Transit Incentive Plan Proposed Resolution 15-49: Authorization for Contract Authority - Connect Stewart House Fire System to Soames- Dunn Fire System Proposed Resolution 15-50: Authorization for Contract Authority Engineer the Addition of Two ClimaCool Heat Pumps Proposed Resolution 15-52: Authorization for Contract Authority - Restore Economy 1st Avenue and Post Alley Windows Chair Sabina Proto Ben Franz-Knight Bob Beckstrom Brady Morrison Bob Beckstrom Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 1

2 Page 2 C. Other 5:10pm VI. Further Public Comment 5:15pm VII. Closed Session I. Property Management Report - RCW [c] II. Review of Lease Proposals Lease Renewal - BLMF Books Pike Place #322 Lease Renewal - Crepe De France - 93 Pike Street Lease Renewal - Farvahar Post Alley #3A Lease Renewal - Market Grill Pike Place #3 Lease Renewal - Pike Place Fish - Unit E1/Economy III. Review of Delinquency Report a. Vacancy Report b. Current Lease Negotiations 5:45pm VIII. Open Session A. Action Item: Proposed Resolution 15-51: Lease Proposals - July 2015 Jennifer Maietta 5:50pm IX. Concerns of Committee Members 6:00pm X. Adjournment Chair PDA Council Packet pg. 2

3 PDA Council Meeting Minutes Thursday, June 25, :00 p.m. to 6:00 p.m. The Classroom Committee Members Present: Matt Hanna, Gloria Skouge, David Ghoddousi, Ann Magnano, Patrice Barrentine, James Savitt, Betty Halfon, Rico Quirindongo, Patrick Kerr Staff Present: Ben Franz-Knight, Tamra Nisly, Lillian Hochstein, Kelly Lindsay, John Turnbull, Jennifer Maietta, Dianna Goodsell Others Present: Dongho Chang, Chris Scott, Joe Reed, Joan Paulson, Howard Aller, Bob Messina, Jonny Hahn, Holly Golden, Tom Graham The meeting was called to order at 4:03p.m.by Matt Hanna, PDA Council Chair. I. Administration A. Approval of the Agenda Per the Chairs request, Section V, Item B, Proposed Resolution 15-46: MarketFront Project Temporary Easement with PPF OFF 2001 Western Avenue was moved after Section IV, Item A. The agenda, as amended, was approved by Acclamation B. Approval of the May 28, 2015 PDA Council Meeting Minutes The minutes were approved by Acclamation II. Announcements and Community Comments Jonny Hahn commented on the numerous tour groups in the Market and had asked if there was some regulation of these tour groups by the PDA. He separately commented on traffic issues he has been observing in the Market including. He concluded that he would like to see the street either completely open or completely closed. Rico Quirindongo entered into the meeting at 4:12p.m. Howard Aller noted that Jonny is heavily invested in the corner of Pike and Pine in where he regularly performs. He noted that he lives nearby Pike and Pine and described his difficulties in navigating the street due to dodging traffic. He said that it is time for us to close that street off to traffic. Betty Halfon entered into the meeting at 4:15p.m. Pike Place Market Preservation & Development Authority (PDA) pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 3

4 Page 2 Lillian Hochstein thanked everyone for coming to the MarketFront groundbreaking ceremony. Joan Paulson noted that the City of Seattle has an ordinance regarding utilizing horns. She had mentioned that if you close Pike Place at this time when construction is underway on Western, we would have even less parking than what we have today. She lastly distributed a letter for a third occasion to the PDA Council regarding creating a better balance between the Annual Budget Process and the PDA S Mission and Charter Purposes; she said she would continue distributing the document until there is some resolution or response from it. Patrice Barrentine entered into the meeting at 4:20p.m. III. Reports and Information Items A. Council Chair Report Matt Hanna presented a brief Council Chair report for the month of June. He first most thanked the staff and community for their work for the MarketFront Groundbreaking ceremony. He acknowledged staff including and the press work from Emily Crawford, Marketing and PR Manager. He briefly discussed preparations for the annual PDA Council Retreat. He noted that he would like the retreat to focus on the budget planning process as well as thinking of the Market as a whole, including connections between the Market and MarketFront. He had briefly reported on the Nominating Committee, noting that there were two seats up for reappointments. He had announced that Jackson Schmidt and Bruce Burger had decided not to accept another appointment for their positions on the PDA Council. He noted that the Nominating Committee is considering roughly eight to nine candidates as of present. He does not believe that a decision will be made for the PDA Council elected & Mayoral elected appointments by next month. He provided a general outline of the meeting s agenda with the Council. B. Executive Director s Report Ben Franz-Knight said that there was a detailed written ED Report included in the PDA Council packet for June. He highlighted a few items in the ED Report including an update on the seasonably warmer and dryer weather and how this environmental change could impact the Farmers. He noted that we have already seen some initial impacts from the farmers including early ripening of stone fruits. He concluded though, that as of now, all of farmers have access to water. He separately talked about parking, emphasizing that we continue to see incredible pressure of our garage. He had mentioned that the PDA Council had asked him to look into a viable option for some type of transit incentive. He reported that he is working with Commute Seattle on reduced Orca fare transit passes. He would come back to the Council with a resolution next month for the opportunity for the PDA to subsidize part of that transit program. He briefly discussed the proposed changes in the garage including the potential removal of Early Bird rates. He said that we would be conducting a survey of the early bird parkers next week. He acknowledged that parking is a sensitive issue and we are doing as much as we can to work through the challenges. He lastly highlighted an incident on Steinbrueck Park where someone had PDA Council Packet pg. 4

5 Page 3 fallen off the wall. He lastly acknowledged the PDA Council for their four years of tremendous work on the MarketFront project. Matt Hanna asked about the parking rate strategy for the Public Market garage. David Ghoddousi asked about a specific example for the proposed changes in parking rates. Ben Franz-Knight responded to David s question stating that we are looking at parking rates around $15-$18 for early bird and $30-35 for all day. Patrice Barrentine mentioned that she has parked overnight in the Market garage and did not incur additional charges for the length of parking stay. Betty Halfon asked about providing tenant alerts and notifying the community and businesses as soon as possible regarding any proposed changes to the parking rates. David Ghoddousi mentioned that the parking rate restructure notice should be highlighted in the Market Insider on the front page. IV. C. Committee Chair Report Rico Quirindongo thanked the Market Foundation and PDA staff for their work in organizing the MarketFront Groundbreaking ceremony. D. Other Reports None Key Issues and Presentations A. Pike Place Pedestrian Prioritization Ben Franz-Knight provided an introduction to Dongho Chang from Seattle Department of Transportation SDOT. Dongho spoke about the changes in Seattle including the emergence of new construction and people. He spoke about the ordinances in Seattle including an ordinance from the City Council that can designate public right away for pedestrian; he noted that his is something to think about for Pike Place Market. Ben had asked Dongho to talk about the proposed changes with the proposed ordinance including updated signage noting pedestrian right-away. There was a discussion that followed from the Committee. Matt Hanna asked on the legalities for the Market in providing pedestrian prioritization at the Market including specific responsibilities. Dongho Chang noted that the change would include just signage. He said that we would want clear definition of the pedestrian right away instead of ambiguity. He mentioned that when we place signs on the street, we communicate with the drivers that this is a PDA Council Packet pg. 5

6 Page 4 pedestrian designated area and they do need to comply and be patient; this ultimately places safety first. Matt Hanna asked about recommendations of this issue from the Council and Ben. Ben Franz-Knight said that he had wanted Dongho Chang to initially provide some introductory to this concept to the PDA Council before implementation of it. He added that the City ultimately controls the streets so it would have to be approved by them. Betty Halfon noted that she did not have a problem with placing signage on the street for indicating pedestrian right away. She noted her concerns though about what could potentially transpire after approving the pedestrian prioritization concept including complete closure of the street. Matt Hanna asked for specific examples of the tools we would use regarding pedestrian prioritization on Pike Street; he also mentioned about identifying potential liabilities with this approach. Section V, Item B, was moved after Section IV, Item B. Proposed Resolution 15-46: MarketFront Project Temporary Easement with PPF OFF 2001 Western Avenue Ben Franz-Knight and Holly Golden introduced the resolution what states that the Pike Place Market Preservation and Development Authority ( PPMPDA ) was chartered by the City of Seattle pursuant to RCW et. seq with the mission of, among other things, preservation and rehabilitation of the structures and open spaces in the Market Historic District, and; Whereas in order to maintain the viability of the Pike Place Market and the PPMPDA has undertaken an effort to identify and address issues and opportunities related to the design of the Central Waterfront and the development of parcels adjacent to the Market including PC-1N that may directly affect the future of the Market, and; Whereas, the PDA Council has approved design and construction contracts for the MarketFront development, and; Whereas the MarketFront development includes temporary shoring during construction that requires a temporary easement from the adjacent property owner to the north, and; Whereas, the PDA staff has negotiated a temporary easement with PPF OFF 2001 Western Avenue (owners of Market Place One and Two just north of PC1S), and; Now, therefore be it resolved that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a temporary easement agreement with PPF OFF 2001 Western Avenue substantially similar to the attached Exhibits for a fee of $75,000 and reimbursement for substantiated out-of-pocket expenses including transaction costs and construction monitoring services anticipated in the range of $25,000-$35,000 for a total amount not anticipated to exceed $110, In the event that reimbursement above $35, is required, this matter will return for supplemental PDA Council authorization. The funds for this project will be drawn from MarketFront Project Funds. PDA Council Packet pg. 6

7 Page 5 Ann Magnano moved, Patrice Barrentine seconded Rico Quirindongo asked if this expense for the easement was part of our budget. For: Matt Hanna, Gloria Skouge, David Ghoddousi, Ann Magnano, Patrice Barrentine, James Savitt, Betty Halfon, Rico Quirindongo Against: 0 Abstained: 0 Resolution 15-46: Approval of Second Amendment to Cooperative Agreement with WSDOT was passed unanimously by the PDA Council by a vote of Matt Hanna noted that approach Unico had taken was at the expense of the Market and MarketFront project. He had stated his frustration with the additional expense but noted that we had no other choice in this matter. Holly Golden said that Ben had done an excellent job in negotiating down the cost for the easement with Unico from $250,000 to $75,000. Jim Savitt asked about how we calculated the figure that was presented tonight. He noted that he wanted to make sure that the institution integrity is not lost. He said that we are neighbors and are improving the area. He recommended that Ben keep record for his successors on this memory. B. Project for Public Spaces - 9th International Public Markets Conference Summary John Turnbull presented on the 9th International Public Markets Conference he had attended with Rico Quirindongo back in March; a copy of his presentation was included with the PDA Council records. Over 400 participants from 109 cities, 45 countries and 6 continents Defining Public Marketplaces: Public spaces Support small businesses Community centers Celebrate diversity Facilitate connections Economically relevant Barcelona 41 Public Markets Walking distance 40% of fresh food sold Public private management More than just food Center of residential districts PDA Council Packet pg. 7

8 Page 6 Barcelona s Priorities include: 25 Year Plan MILLION Euros Major infrastructure upgrades for historical markets New partnerships with traders associations Creating new customer services and extended operating hours Modernize facilities and improve logistics Promote through multimedia, local campaigns and merchants associations Increased recycling and energy efficiency Rico Quirindongo added some comments to John s presentation. He noted that one of the most controversial discussions from the conference was introducing grocery stores into public markets. Matt Hanna asked if there are some items we take away from this conference. John Turnbull noted that we went to this conference three years ago in Cleveland, Ohio. He added that behind the scenes, we have been focusing on authenticity and relevance. Betty Halfon would like to further discuss this topic at the PDA Council Retreat. V. Resolutions and Other Action Items (Old and New Business) A. Consent Agenda Proposed Resolution 15-33: Pine Street Stair Enhancement Painting - Novo Painting and Property Services LLC. Proposed Resolution 15-38: Pine Street Stair Enhancement Signage - Trade-Marx Sign & Display Corp. Proposed Resolution 15-43: Lease Proposals - June 2015 Proposed Resolution 15-44: Authorization for Contract Authority - Tenant Improvement Coordination - First and Pine Building Motion to approve the Consent Agenda For: Matt Hanna, Gloria Skouge, David Ghoddousi, Ann Magnano, Patrice Barrentine, James Savitt, Betty Halfon, Rico Quirindongo Against: 0 Abstained: 0 The Consent Agenda passed unanimously by the PDA Council by a vote of B. New Business Proposed Resolution 15-46: MarketFront Project Temporary Easement with PPF OFF 2001 Western Avenue The proposed resolution was moved after Section IV, Item A. PDA Council Packet pg. 8

9 Page 7 Proposed Resolution 15-47: Approval of Second Amendment to Cooperative Agreement with WSDOT Ben Franz-Knight introduced the resolution which states that the PDA Council approved resolution authorizing the Executive Director to enter into a Cooperative Agreement ( Cooperative Agreement ) between the Washington State Department of Transportation ( WSDOT ) and the PPMPDA (attached) under which agreement WSDOT will pay the PPMPDA One Million Dollars ($1,000,000) in exchange for the PPMPDA s agreement to execute and record a restrictive covenant restricting the use of 450 parking spaces located in the PPMPDA PC-1S parking garage to short-term parking at specified rates for a period of three (3) years, and; Whereas the PDA Council approved resolution amending and extending the Cooperative Agreement under which agreement WSDOT will pay the PPMPDA an additional Two Million Five Hundred Thousand Dollars ($2,500,000) in exchange for the PPMPDA s agreement to execute and record a restrictive covenant restricting the use of 450 parking spaces located in the PPMPDA PC-1S parking garage to short-term parking at specified rates for a period of an additional four and half (4 1/2) years, and; Whereas the Executive Director has successfully negotiated a second amendment to the Cooperative Agreement under which agreement WSDOT will pay the PPMPDA an additional amount of Two Million Five Hundred Thousand Dollars ($2,500,000) in exchange for the PPMPDA s agreement to execute and record a restrictive covenant on the PC1N parcel restricting use of 450 parking spaces total in the new garage to be constructed on PC1N and the existing PC1S garage through 2020 and restricting 300 parking spaces total in the new garage to be constructed on PC1N and the existing PC1S garage from 2021 through, and; Now, therefore be it resolved that the Executive Director is authorized to execute the amendment to Cooperative Agreement with WSDOT substantially similar to the attached Exhibit; Ann Magnano moved, Betty Halfon seconded For: Matt Hanna, Gloria Skouge, David Ghoddousi, Ann Magnano, Patrice Barrentine, James Savitt, Betty Halfon, Rico Quirindongo Against: 0 Abstained: 0 Resolution 15-47: Approval of Second Amendment to Cooperative Agreement with WSDOT was passed unanimously by the PDA Council by a vote of C. Other VI. Further Public Comment Bob Messina commented on Mr. Chang s discussion and his view on pedestrian prioritization. He said that the current traffic activity and flow on the street is done intuitively by the cars and pedestrians. He was curious if signage would improve functionality on the street. He would like to have more clarity on what does right-away actually mean for the main street. PDA Council Packet pg. 9

10 Page 8 VII. VIII. Concerns of Committee Members None Adjournment The meeting was adjourned at 6:08pm. Matt Hanna, PDA Council Chair Meeting minutes submitted by: Dianna Goodsell, Executive Administrator PDA Council Packet pg. 10

11 Section II: Executive Director s Report PDA Council Packet pg. 11

12 v Executive Director s Report July 2015 Date: July 24, 2015 To: PDA Council From: Ben Franz-Knight Subject: Executive Director s Report July 2015 SUMMARY July has proven to be a very intense month in the Market with a high volume of visitors in combination of incredibly warm temperatures. Overall business is strong with summer traffic up over prior years. The MarketFront Project construction made great progress in the month of July. We had accomplished building the initial benches for excavation, installing construction fencing and on-site offices, installing almost all of the east elevation shoring piles, installing all monitoring equipment for adjacent buildings and structures including installation of monitoring equipment in the BNSF tunnel. Parking was a topic of lively debate during the month of July following the increase in early bird and all day parking rates. We did complete successful negotiations with Commute Seattle and King County Metro to deploy a new Orca Business Passport program that, pending approval by the PDA Council, would provide access to affordable transit passes to employees in PDA owned and managed properties that have 4 or less qualified employees. Our express markets started strong with increased sales for farmers at all markets, most notably South Lake Union and Virginia Mason. We have continued to closely track drought impacts for Market Farmers. To date, the eastside farmers have mostly fared well with retaining existing water rights. We are starting to see significant impacts for the west side farmers due to extremely warm temperatures and limited water access. Our Farm team is working closely with farmers in identifying needs and exploring ways in help managing impacts from the warmer growing season. We are working with the Market Foundation to coordinate Sunset Supper taking place on August 14 th and other late August filming and event activity. Finally, we are looking forward to fall and winter activities including budget planning, capital project coordinating and development of fall and winter marketing campaigns. Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 12

13 Page 2 KEY OPERATING METRICS Commercial Tenant Sales as Compared to Previous Year* Year to Date Sales (May 2015): 9% Restaurants: 14% Food: 6% Mercantile: 4% Operating Income After Required Reserves and Debt Service: Annual Goal $2,055,516 Year to Date: June 2015 $1,303,841** Farm and Daystall Attendance Change from June 2014 to June 2015 Craft -3.8% Farm.1% *Several charts are also attached highlighting year-over-year sales trends through May with partial sales reports for June. ** Actual performance is $766,090 over budget. Operating Income after Required Reserves and Debt Service We continue to prudently manage expenses and have seen higher than projected revenue contributing to a net result after debt service and reserves of $1,303,841. Farm and Craft Attendance Farm attendance and Revenue had increased slightly in June 2015 over the previous year. We currently have 86 active farm permit holders. Daystall attendance was down by 3.8% compared to June Lastly, we continue to work closely with the daystall community to address parking concerns. MARKET PROGRAMS PDA Council Packet pg. 13

14 Page 3 Marketing Promoted market businesses and activities via the website and social media, with 234,239 total Facebook likes, 46,445 Twitter followers, 4,385 Instagram followers, 81,201 website views and 44,640 mobile visitors. Responded to all press inquiries and continued active management and engagement on all social media platforms Continued active promotion of Market businesses and activities including promo ideas generated at the Market Programs Committee Conducted 15 school tours reaching at total of 99 students in June Hosted two commercial film shoots and one promotional film shoot in June Farm and Daystall Continuation of employee CSA Program including extended CSA Partnership with King County Healthy Incentives Continued to manage summer Express Markets at Virginia Mason, Pioneer Square, City Hall, South Lake Union and Microsoft Commons. All markets are up year-over-year with South Lake Union and Virginia Mason up dramatically Worked closely with daystall and craft community to address parking concerns Continue to track impacts of warm temperatures and lower water tables Market Programs Committee - Key Actions and Discussions Reviewed Education Program 2014/2015 Year in Review including recent additions to the website Review of Holiday Campaign Messaging Priorities FINANCE AND ASSET MANAGEMENT Finance and Accounting Department Processed all payables and receivables Commenced mid-year budget review Residential Continue to lease available units, Market-wide occupancy rate at 98% through June Hosted several resident events and gatherings Coordinated move-ins achieving nearly full occupancy Commercial Processed new leases, lease renewals and options Continued successful booking of events in Economy rooms and Atrium Kitchen Continued enforcement of active line-management requirements for tenants with long-lines adjacent to other businesses Capital Projects Sought bids and prepared recommendations for Stewart House Fire Panel upgrades, painting and repair of Economy Market Windows and purchase of additional Climacool Units Assisting with review and coordination of TI work in First and Pine, Economy Atrium and Western Ave PDA Council Packet pg. 14

15 Page 4 Preparing final projects list for levy funded projects following successful completion of Windows on Western Parking Adjusted early bird and all day parking rates to maintain affordable, accessible parking for visitors and customers and ensure compliance with city and state agreements Coordinated alternative parking options for market merchants Continued to closely tracked garage usage by hour and day to gauge impacts Reviewed options for hardware upgrades to accommodate new credit card chip readers Maintenance and Facilities Coordinated apartment turn-over work and responded to calls for service throughout the Market Garbage tonnage for June was approximately 172 tons; over 21 tons less than the previous year Mixed recycling was 562 tons and we processed 242 yards of compost in June 260 miles of toilet paper used in June Melted 30 tons of ice in the fish ice melting station 62 bales of cardboard recycled in June New cardboard baler introduced in May - Average weight per bale rose from 600 lbs to 750 lbs Security Conducted routine patrols and provided support for filming and events Managed increased volume of activity in the Market during summer months Participated in planning efforts for pop-up concert to be held on August 23 rd in the evening Responded to calls for service in the Market, fire alarms and requests for assistance ( e.g. commercial tenant after hours building access) Finance and Asset Management Committee - Key Actions and Discussion The Committee did not meet in July MARKETFRONT Construction efforts proceeding on schedule and within budget BN Tunnel monitoring equipment installed the week of 7/20 Reviewed proposals for NMTC and LITHC Investor RFP and will make selections the week of 7/27 2 nd and fully executed 2 nd Amendment to the Parking Covenant to WSDOT remaining payment of $2.5million from WSDOT approved and in process Signed and fully executed temporary easement with Unico for PC1N construction Continued to conduct community outreach regarding construction activity MarketFront - Key Actions and Discussion The Committee did not meet in July PDA Employee July 2015 Anniversaries: 27 yrs. - John Johnson (Facilities) 17 yrs. - Zack Geberkidan (Parking) PDA Council Packet pg. 15

16 Page 5 13 yrs. - Joseph Strong (Information Technology) 12 yrs. - Stacey King (Security) 4 yrs. - Michael Hill (Security) 3 yrs. - Patricia Gray (Market Foundation) 2 yrs. - Calvin Williams (Facilities) 1 yr. - Rebbeca Holloway (Commercial) 1 yr. - Holly Southern (Events) PDA Council Packet pg. 16

17 Commercial Sales Comparison (through May 2015) CURRENT YEAR PREVIOUS YEAR FOOD MERCANTILE PDA Council Packet pg. 17

18 RESTAURANTS PDA Council Packet pg. 18

19 Section III: Key Presentations & Supporting Documents PDA Council Packet pg. 19

20 Section IV: Consent Agenda Items PDA Council Packet pg. 20

21 Section V: New Business Items PDA Council Packet pg. 21

22 PROPOSED RESOLUTION Authorization for New Bank Accounts - US Bank Corporate Trust July 2015 WHEREAS, the Pike Place Market PDA has opened two new debt service accounts with US Bank Corporate Trust to serve 2015 Series A and 2015 Series B Bonds; PDA will make monthly contributions of principal and interest to these accounts, and from each account US Bank Corporate Trust will make semiannual payments of interests and annual payments of principal to the bondholders. LET IT BE RESOLVED, that the following bank be, and hereby is authorized to honor and pay checks or other appropriate orders for the payment or withdrawal of money drawn in the name of Pike Place Market Preservation and Development Authority (PPMPDA) in the new accounts: US Bank Corporate Trust: 2015 Series A Bonds (new) 2015 Series B Bonds (new) BE IT FURTHER RESOLVED, that the following persons are duly designated to authorize deposits and withdrawals of funds for the above listed account: (a) Checks up to $250.00: Any one of the following: Ben Franz-Knight (Executive Director) alone; Sabina Proto (Director of Finance) alone, John Turnbull (Director of Asset Management) alone. (b) Checks over $250.00: Ben Franz-Knight, Sabina Proto, John Turnbull WHEREAS, All signatories are reminded, especially those who are co-signing checks, to verify that the check is completely filled out and the purpose of the check is clearly known before signing, including, and not limited to: Against what invoice is the check being drawn? To satisfy what obligation is the check being written? Is the amount of the check appropriate to its purpose? For what reason are monies being transferred between accounts? The Market relies on the diligence of its check signatories. These public funds are deposited in accordance with laws of the State of Washington. This authority revokes all previous authorities for these accounts, and shall continue in force until notice in writing of its revocation shall have been received by said bank. Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 22

23 PROPOSED RESOLUTION Pike Place Market Transit Incentive Plan July 2015 WHEREAS, WHEREAS, WHEREAS, WHEREAS, WHEREAS, the Pike Place Market Preservation and Development Authority ( PPMPDA ) was chartered by the City of Seattle pursuant to RCW et. seq with the mission of, among other things, to ensure that the traditional character of the Public Market is preserved to promote the survival and predominance of small shops, marginal businesses, thrift shops, arts and crafts, and other enterprises, activities and services essential to the functioning of the Public Market, and; in order to maintain the viability of the Pike Place Market and the PPMPDA has undertaken an effort to identify and address issues and opportunities related to parking and transportation including affordability for vendors, employees and customers, and; the PDA places a high priority on easily accessible short-term parking further supported by agreements with the City of Seattle approved by Resolution Development Agreement, Resolution Development Agreement Exhibits, WSDOT approved with Resolution AWV Parking Mitigation Agreement, Resolution Cooperative Agreement with WSDOT Parking Mitigation, Resolution Approval of First Amendment to Cooperative Agreement with WSDOT, Resolution Approval of Second Amendment to Cooperative Agreement with WSDOT which provide a low parking rate of $3/hr for up to four hours and funds to help construct a new 300 space parking garage, and; the current agreements and the loss of parking availability in downtown Seattle required the elimination of affordable parking options for Market employees and vendors to preserve customer parking many of whom require cost effective transportation options to maintain the viability of their businesses, and; the PDA, in partnership with Commute Seattle and King County Metro has developed a program that will provide access to low-cost transit passes for PDA employees and eligible Market employees defined as employees of businesses and vendors in the Market with less than 5 employees that work in PDA owned buildings or on PDA managed property within the Pike Place Market Historic District, and; WHEREAS, the PDA is committed to sustainable and environmentally sound business practices consistent with Resolution Approval of Pike Place Market PDA Environmental Policy which states, It is the policy of the Pike Place Market PDA to reduce the use of resources to lead by example, and to work in coordination with and provide assistance to PDA tenants to ensure Market-wide business practices are conducted in an environmentally responsible and sustainable manner, and; WHEREAS, WHEREAS, the encouragement of additional transit use by PDA employees, vendors and vendor employees is important to the continuity of PDA and vendor operations, and; this transit incentive plan is consistent with the PDA Environmental Policy and the Charter mandated obligation to support small business, arts and crafts, and; NOW, THEREFORE, BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with King County Metro for annual Orca Passports in an initial amount not to exceed $95, with the PDA providing a program required subsidy of $47, with the balance paid by individual PDA and eligible Market employees, and; Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 23

24 2 The funds for this project will be drawn from account Transit Subsidy and a budget adjustment recognizing year-to-date savings in operational expenses. Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: PDA Council Packet pg. 24

25 PROPOSED RESOLUTION Authorization for Contract Authority Connect Stewart House Fire System to Soames-Dunn Fire System July 2015 WHEREAS, WHEREAS, WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was chartered by the City of Seattle pursuant to RCW 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, in order to maintain the viability of the Pike Place Market buildings the PPMPDA has determined that the Stewart House Fire System is out dated, and non-addressable; and, the PPMPDA has executed a bid with Simplex-Grinnell, since the fire system is proprietary; and, NOW, THEREFORE, BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with Simplex-Grinnell in an amount not to exceed $39, for updating the Stewart House Fire System, and connecting the system to the Soames-Dunn Fire Panel The funds for this project will be drawn from the Capital Projects Budget, 2015 COMSTE CC Combine Stewart House Fire panel on Soames-Dunn Fire Panel : Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 25

26 PROPOSED RESOLUTION Authorization for Contract Authority Engineer the Addition of Two ClimaCool Heat Pumps July 2015 WHEREAS, WHEREAS, WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was chartered by the City of Seattle pursuant to RCW 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, in order to maintain the viability of the Pike Place Market buildings the PPMPDA has determined that the current heating and cooling system must be expanded to meet Market needs; and, the PPMPDA has executed a bid process for ClimaCool Engineering; and, NOW, THEREFORE, BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with Rushing in an amount not to exceed $71, for engineering the ClimaCool system for additional heat pumps The funds for this project will be drawn from the Capital Projects Budget, 2015 PDA CC Engineer ClimaCool System: Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 26

27 Page 2 Proposed Resolution Authorization for Contract Authority Engineer the Addition of Two ClimaCool Heat Pumps July 2015 Proposed Resolution Costs: $71, Current Budget: $80,000 Project: Account: Engineering to add two more ClimaCool heat pumps Capital Projects Accounting Code: Project Description: Engineer the addition of two 50 ton ClimaCool heat pumps Scope: Engineer the install of two 50 ton ClimaCool heat pumps, two circulation pumps, two variable frequency drives, and controls for heat pumps, and circulation pumps Bid Process: Bid process: Sent out Request for Proposals to six engineering companies, and received one bid o Rushing $65,212 ($71, with 10% Contingency) o Berona Engineers Unresponsive o FSI Engineers Unresponsive o RACI Engineering Unresponsive o PAE Engineers Unresponsive o TresWest Engineers Unresponsive PDA Council Packet pg. 27

28 PROPOSED RESOLUTION Authorization for Contract Authority Restore Economy 1 st Avenue and Post Alley Windows July 2015 WHEREAS, WHEREAS, WHEREAS, the Pike Place Market Preservation and Development Authority (PPMPDA) was chartered by the City of Seattle pursuant to RCW 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, in order to maintain the viability of the Pike Place Market buildings the PPMPDA has determined that the Economy Windows on 1 st Avenue, and Post Alley, are in need of restoration; and, the PPMPDA has executed a bid process to restore the windows and storefronts; and, NOW, THEREFORE, BE IT RESOLVED that the PPMPDA Council authorizes the PPMPDA Executive Director or his designee to enter into a contract with NOVO Paint Company in an amount not to exceed $19, for restoring the windows on 1 st Avenue and Post Alley. The funds for this project will be drawn from the Capital Projects Budget, 2015 COMECO CC Storefront/Windows: Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 28

29 Page 2 Proposed Resolution Authorization for Contract Authority Restore Economy 1 st Avenue and Post Alley Windows July 2015 Proposed Resolution Costs: $19, Project: Account: Restore Economy Windows Capital Projects Accounting Code: Project Description: Restore storefront windows and upper windows Scope: The purpose of this project is to sand, refinish, prime, and paint the windows along 1 st Avenue, and the Post Alley side windows Bid Process: Bid process: Solicited three bids, and received three bids: o NOVO Paint $17, ($19, with 10% contingency) o REED Paint $17, o Grund Paint Co. $21, PDA Council Packet pg. 29

30 PROPOSED RESOLUTION Lease Proposals July 2015 Tenant Term Start Date BLMF Books Five (5) Years June 1, 2015 James B. Johnson Crepe De France Five (5) Years July 1, 2015 Nany Price Farvahar Café Two (2) + Three (3) August 1, 2015 Market Grill Five (5) Years June 1, 2015 Pike Place Fish Five (5) Years August 1, 2015 Gloria Skouge, Secretary/Treasurer Date Date Approved by Council: For: Against: Abstained: Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 30

31 Lease Summary Date: July 21, 2015 Business Name/Owner: BLMF Books / James B. Johnson Address/Building/Square feet: 1501 Pike Place #322 / Fairley / 660 sf Tenant Since: 1998 Primary Term: Five (5) Years Use Description: Retail sale of Used Books Business Name/Owner: Crepe De France / Nany Price Address/Building/Square feet: 93 Pike Street / Economy Market / 642 sf Tenant Since: 1992 Primary Term: Five (5) Five Years Use Description: Creperie Business Name/Owner: Farvahar / Behzad Ramezanizadeh & Azita Amirabadi Address/Building/Square feet: 1530 Post Alley #3A / First and Pine / 318 sf Tenant Since: 2012 Primary Term: Two (2) Years Options: Three (3) Years Use Description: Persian Cuisine Business Name/Owner: Market Grill / Rod Mick Address/Building/Square feet: 1509 Pike Place #3 / Fairley / 370 sf Tenant Since: 1993 Primary Term: Five (5) Five Years Use Description: Fast Food Business specializing in fresh grilled seafood Business Name/Owner: Pike Place Fish / John Yokoyama Address/Building/Square feet: Unit E1 / Economy / 309sf Tenant Since: 1965 Primary Term: Five (5) Five Years Use Description: Office & Storage Use Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org PDA pikeplacemarket.org Council Packet pg. 31 P: F: Pike Street, Room 500 Seattle, WA 98101

32 Section VI: PDA Committee Minutes PDA Council Packet pg. 32

33 , May 26 th Market Programs Committee Draft Meeting Minutes Pike Place Market Preservation and Development Authority (PDA) Tuesday, July 14th, :00 p.m. to 6:00 p.m. The Classroom Committee Members Present: Betty Halfon, Patrice Barrentine, Gloria Skouge, Ann Magnano, David Ghoddousi Other Council Members Present: Patrick Kerr Staff Present: Ben Franz-Knight, Kelly Lindsay, Scott Davies, Tamra Nisly, Emily Crawford, Sue Gilbert-Mooers, Dianna Goodsell Others Present: Howard Aller, Joan Paulson, David Kenagy The meeting was called to order at 4:04p.m. by Patrice Barrentine, Vice-Chair. I. Administration A. Approval of the Agenda The agenda was approved by Acclamation B. Approval of the June 9 th, 2015 Meeting Minutes. The minutes were approved by acclamation. II. Announcements and Community Comments III. Programs and Marketing Director s Report A. Programs & Promotions Update Kelly Lindsay presented a brief overview on recent Market media relations as well as programming activities in the Market. She distributed a few articles from the Seattle Times and the Puget Sound Business Journal regarding the Market. She had informed the Committee that this meeting would be her last as she would be stepping down as Director of Marketing & Programs to spend more time with her family. Betty Halfon entered into the meeting at 4:14 p.m. IV. Presentation and Discussion Items A. Education Program 2014/15 Year in Review Scott Davies presented on the Pike Place Market Education Program year in review for the 2014/2015 school year; a copy of the presentation was included with the PDA Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA 98101

34 Page 2 Council records. He provided an annual overview of the School Program including new updates to the program this year including interactive educational activities on the website. Scott reported that the School Program had hosted 104 classes from 50 schools; 28 Public, 22 Private this year. He said that he reached roughly 2,292 students with the program this year. A summary of School Program presentation was noted as follows: One class used the Atrium Kitchen to prepare food bought in the Market (February). Worked with Nathan Hale High School, Seattle University and North Seattle College. Between our tours and these Farmers Market Nights, we reached 32 out of 69 Seattle Public Schools, elementary or K-8 schools (46 percent). Newspapers in Education (NIE) a program of The Seattle Times, an 8-page insert in the April 26 edition featured an article about sustaining farming families. Washington Agriculture Educators Beecher s Pure Food Kids Foundation Let s Get Cookin summer food education program for 6 day camps in south Seattle. Activities in their Market experience include shopping from farmers, a food-oriented tour, and making lunch. Grant recipients include El Centro de la Raza, community centers, Refugee Women s Alliance and YMCA. This is a partnership with City of Seattle, Seattle Tilth, and School s Out Washington. New lessons coming soon for Education Program: Creating a business, Farmers and agriculture, World cultures in the Market and Social services There was a discussion that followed from the committee regarding the School Program. B. Holiday Campaign Messaging Priorities Kelly Lindsay reviewed the Holiday Campaign Messaging Priorities with the Committee. There was a discussion form the Committee that followed on ideas to incorporate for the Holiday Campaign. V. Action Items None VI. VII. Resolutions to be added to Consent Agenda None Concerns of Committee Members The Committee thanked Kelly Lindsay for her work as the Marketing & Programs Director for the Pike Place Market PDA.

35 Page 3 VIII. IX. Public Comment Joan Paulson mentioned that there is no emphasis on December 21 st, which is the shortest day of the year; there could be mentioned of shopping early in the Market. She separately commented on seeing measurables for the Marketing efforts. Adjournment The meeting was adjourned at 5:07 pm by Betty Halfon, Chair Meeting minutes submitted by: Dianna Goodsell, Executive Administrator

36 Section VII: Financials & Additional Enclosures PDA Council Packet pg. 36

37 PDA Council Packet pg. 37

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39 PDA Council Packet pg. 39

40 PDA Council Packet pg. 40

41 PDA Council Packet pg. 41

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45 PDA Council Packet pg. 45

46 Monthly Executive Summary Pike Place Market - MarketFront July 2015 Permitting Master Use Permit issued June 15, 2015 Early Works Permit issued mid-june Building Permit anticipated mid-july South Site Permit early July Street Improvement Permit 90% currently in review Bidding All bidding for south site and base building work is complete. Bidding for housing to occur 4 th Quarter Construction Progress Notice to Proceed for Sellen was issued June 9, Substantial Completion is December 2, 2016 Sellen mobilized to the site June 15, Demolition of existing concrete wall at Western started Installation of shoring piles began along Western Easement agreement with Unico has been finalized Next Month Construction Activities Continue shoring installation on the East and West sides then on the North Pike Place Market Preservation & Development Authority (PDA) info@pikeplacemarket.org pikeplacemarket.org P: F: Pike Street, Room 500 Seattle, WA PDA Council Packet pg. 46

47 Page 2 Project Photos July 2015 PDA Council Packet pg. 47

48 Page 3 Project Flow of Funds On the next page is a high level outline of the projected flow of funds for the project through project completion. Flow of funds will continue to be updated as the project progresses. Project Budget Summary Following the Flow of Funds is the project budget summary to be updated monthly as the project progresses. PDA Council Packet pg. 48

49 MarketFront PROJECT FLOW OF FUNDS July 09, 2015 (GL thru June '15) PROJECT SUMMARY SCHEDULE Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 PROJECTED CASH FLOW (adjusted for 6/2015 Construction Start) Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 A/E Design $ 377,022 $ 68,868 $ 208,296 $ 189,834 $ 876,598 $ 198,946 $ 428,248 $ 688,146 $ 41,746 $ 300,060 $ 200,578 $ 199,578 $ 200,137 $ 200,603 $ 325,000 $ 460,899 $ 4,964,559 GCCM Precon $ - $ - $ - $ 55,729 $ 77,643 $ 73,579 $ 25,595 $ 87,453 $ 110,000 $ 40,000 $ - $ - $ - $ - $ - $ - $ 470,000 Miscellaneous Soft Costs $ 164,786 $ 56,905 $ 157,819 $ 99,595 $ 134,495 $ 251,610 $ 133,131 $ 217,454 $ 123,774 $ 463,373 $ 1,083,349 $ 1,103,059 $ 1,609,501 $ 1,603,683 $ 1,409,365 $ 2,834,735 $ 11,446,633 Construction $ - $ - $ - $ - $ - $ - $ - $ - $ 7,196,966 $ 9,523,353 $ 11,151,637 $ 11,822,598 $ 11,786,188 $ 3,401,316 $ 54,882,058 Quarterly Total $ 541,807 $ 125,773 $ 366,114 $ 345,158 $ 1,088,735 $ 524,136 $ 586,974 $ 993,053 $ 275,520 $ 803,433 $ 8,480,893 $ 10,825,990 $ 12,961,275 $ 13,626,884 $ 13,520,553 $ 6,696,950 Cumulative TOTAL $ 541,807 $ 667,580 $ 1,033,695 $ 1,378,853 $ 2,467,588 $ 2,991,724 $ 3,578,698 $ 4,571,752 $ 4,847,272 $ 5,650,705 $ 14,131,598 $ 24,957,588 $ 37,918,863 $ 51,545,747 $ 65,066,300 $ 71,763,250 $ 71,763,250 TOTALS ACTUAL CASH FLOW TOTALS 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 A/E Design $ 377,022 $ 68,868 $ 208,296 $ 189,834 $ 876,598 $ 198,946 $ 428,248 $ 684,784 $ 32,680 $ 252,298 $ 3,317,574 GCCM Precon $ - $ - $ - $ 55,729 $ 77,643 $ 73,579 $ 25,595 $ 87,453 $ 108,229 $ 41,771 $ 470,000 Miscellaneous Soft Costs $ 164,786 $ 56,905 $ 157,819 $ 99,595 $ 134,495 $ 251,610 $ 133,131 $ 219,512 $ 119,438 $ 345,653 $ 1,682,943 Construction $ - $ - $ - $ - $ - $ - $ 31,346 $ 31,346 Quarterly Total $ 541,807 $ 125,773 $ 366,114 $ 345,158 $ 1,088,735 $ 524,136 $ 586,974 $ 991,750 $ 260,346 $ 671,067 $ - $ - $ - $ - $ - $ - Cumulative TOTAL $ 541,807 $ 667,580 $ 1,033,695 $ 1,378,853 $ 2,467,588 $ 2,991,724 $ 3,578,698 $ 4,570,449 $ 4,830,795 $ 5,501,863 $ 5,501,863 $ 5,501,863 $ 5,501,863 $ 5,501,863 $ 5,501,863 $ 5,501,863 $ 5,501,863 FLOW OF FUNDS (adjusted for 6/2015 Start) TOTALS (Qtr funds available/qtr funds billed) 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 City of Seattle (funds available) $ 155,859 $ 104,759 $ 200,736 $ 219,452 $ 319,195 $ 2,200,000 $ - $ 100,000 $ - $ - $ 6,800,000 $ - $ 10,000,000 $ 6,700,000 $ 7,200,000 $ - $ 34,000,000 Billed/Paid $ 155,859 $ 104,759 $ 200,736 $ 219,452 $ 365,651 $ 582,435 $ 875,959 $ 740,566 $ - $ - $ 3,245,416 Remaining (current) $ - $ - $ - $ - $ (46,456) $ 1,571,109 $ 695,150 $ 54,584 $ 54,584 $ 54,584 WSDOT (funds available) $ 1,000,000 $ - $ - $ - $ - $ - $ - $ 2,500,000 $ - $ - $ - $ 2,500,000 $ 6,000,000 Billed/Paid $ - $ - $ - $ 119,109 $ 228,011 $ - $ - $ 351,492 $ 260,184 $ 671,230 $ 1,630,027 Remaining (current) $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 880,891 $ 652,880 $ 652,880 $ 652,880 $ 2,801,387 $ 2,541,203 $ 1,869,973 PDA (funds available) $ 521,101 $ 48,970 $ - $ - $ - $ - $ - $ - $ - $ - $ 2,429,929 $ 3,000,000 Billed/Paid $ 521,101 $ 48,970 $ - $ - $ - $ - $ - $ - $ - $ - $ 570,071 Remaining (current) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Housing Grant (funds available) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 3,100,000 $ 4,000,000 $ 2,100,000 $ 9,200,000 Billed/Paid $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Remaining (current) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Philanthropy (funds available) $ 3,000,000 $ 3,000,000 $ 6,000,000 New Market Tax Credit (funds available) $ - $ - Other Grants - State Funds (funds available) $ - $ 500,000 $ 500,000 PDA Bond Sales $ 9,500,000 $ 3,000,000 $ 563,250 $ 13,063,250 Funds Available - Quarterly Total $ 1,676,959 $ 153,729 $ 200,736 $ 219,452 $ 319,195 $ 2,200,000 $ - $ 2,600,000 $ - $ - $ 6,800,000 $ 12,000,000 $ 13,000,000 $ 15,229,929 $ 12,263,250 $ 5,100,000 Funds Available - Cumulative TOTAL $ 1,676,959 $ 1,830,688 $ 2,031,424 $ 2,250,876 $ 2,570,071 $ 4,770,071 $ 4,770,071 $ 7,370,071 $ 7,370,071 $ 7,370,071 $ 14,170,071 $ 26,170,071 $ 39,170,071 $ 54,400,000 $ 66,663,250 $ 71,763,250 $ 71,763,250 Billed/Paid to Date (Quarterly) $ 676,959 $ 153,729 $ 200,736 $ 338,561 $ 593,662 $ 582,435 $ 875,959 $ 1,092,058 $ 260,184 $ 671,230 $ - $ - $ - $ - $ - $ - Billed/Paid to Date (Cumulative) $ 676,959 $ 830,688 $ 1,031,424 $ 1,369,985 $ 1,963,648 $ 2,546,082 $ 3,422,041 $ 4,514,100 $ 4,774,284 $ 5,445,514 $ 5,445,514 MARGIN - Funds Available to Funds Billed $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 880,891 $ 606,423 $ 2,223,989 $ 1,348,030 $ 2,855,971 $ 2,595,787 $ 1,924,557 $ - $ - $ - $ - $ - $ - PDA Council Packet pg. 49