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