08-27-13 MinutesYELM CITY COUNCIL REGULAR MEETING
TUESDAY, AUGUST 27, 2013 MINUTES
1. Mayor Harding called the meeting to order at 6:00 p.m.
2. Roll Call Present: JW Foster, Joe Baker, Bob Isom, Mike McGowan, Tracey Wood,
Ken Garmann and Russ Hendrickson.
3. Agenda Approval
13-71 MOTION BY JOE BAKER APPROVING THE AGENDA AS PRESENTED.
CARRIED.
4. Special Presentations - none scheduled
5. Public Comment - no comments
6. Consent Agenda
Minutes - Regular Meeting August 13, 2013
Payables - Checks #60930 - #60989 Totaling $3,683,661.66.
1. W. Foster asked for explanation of the large amount of money in the vouchers.
Teresa Mattson, City Treasurer stated it is a check to Thurston First Bank for
approximately 3.6 million dollars for principle and interest on the Killion LID.
13-72 MOTION BY RUSS HENDRICKSON APPROVING THE CONSENT AGENDA AS
PRESENTED. CARRIED.
Public Hearing - none scheduled
8. New Business -
a. Yelm Community Services (YCS) Property Management Agreement
Shelly Badger explained the Housing and Economic Recovery Act of 2008
authorized the Washington State Department of Commerce, through the US
Department of Housing and Urban Development (HUD) to create a
"Neighborhood Stabilization Program" (NSP), in Washington State and provide
funds to local jurisdictions in order to address the impact of abandoned and
foreclosed homes in neighborhoods. The City of Yelm was awarded funds under
the NSP program and entered into a contract with the Washington Department of
Commerce to administer the grant. The Council chose to purchase three houses
with the funds. The houses will be leased for a minimum period of 15 years to
families who meet certain income limits. In March 2012, the City Council and
Board of Directors for Yelm Community Services (YCS) approved a property
management agreement for YCS to provide full property management services
for the three houses. The agreement required that YCS pre-screen each tenant to
ensure that they meet the minimum requirements of the Neighborhood
Stabilization Program and be limited to those with an income 50% of the median
family income for Thurston County. YCS has marketed the houses and received
interest but the applicants have exceeded the income limit for eligibility of 50%
of the median family income. Staff recommends an amendment to the agreement
to change the percentage to allow families with income at or below 120% of the
median family income to increase their eligibility to rent the NSP homes.
Mayor Harding asked about the wording of the contract. Councilmember Isom
stated this agreement is the result of a compromise and the main objective is to
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13-73
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10
11.
give the families with a lower income priority in renting the homes.
Councilmember McGowan asked that information be advertised on the City's web
page and at City Hall.
MOTION BY TRACEY WOOD AUTHORING MAYOR HARDING TO SIGN AN
AMENDMENT TO THE PROPERTY MANAGEMENT AGREEMENT WITH YELM
COMMUNITY SERVICES INCREASING THE MEDIAN HOUSEHOLD FAMILY
INCOME ELIGIBILITY FOR RENTAL OF THE NSP HOMES. CARRIED.
b. Ordinance No. 974, (first reading) Refunding Water Revenue Bonds
(2003)
Teresa Mattson stated there is no action requested tonight but this will be
presented to Council for adoption on September 10, 2013. In April of 2013, the
City solicited proposals from three underwriting firms with the main intent of
refinancing the 2003 Water Revenue Bonds to take advantage of lower interest
rates, which would result in a cost savings. D.A. Davidson & Co. was selected as
the most qualified firm and since then we have been working on updating and
preparing the necessary documents for a bond refinancing. Currently the
remaining 2003 Water Revenue Bonds are available for refunding. The interest
rate the City pays is 4.25%, increasing every year to 5.25% by 2022. The bond
rating process by Standard & Poors is underway, but assuming an A+ rating
(same rating received for the 2003 bond issuance), we anticipate a savings of
approximately $230,000 to the water utility over the next 10 years. The exact
numbers will not be available until 12:00 noon on September 10. Mayor Harding
stated this is one of the things that the City has tried to do in the past few years,
pay down debt and refinance when possible in order to reduce financial burdens
to the City of Yelm.
Old Business - none scheduled
Mayor and Council Initiatives
Councilmember Baker attended the Intercity Transit Board meeting.
Councilmember Baker also attended the Yelm Adult Community Center meeting
where they discussed volunteers for bus drivers and reminded everyone of the
Silent Auction on September 28 from 4 pm - 7:30 pm and they are still seeking
donations.
Councilmember McGowan met with the sub -committee comprised of
Councilmembers Isom and Foster, Grant Beck, Shelly Badger and Cindy Cecil
regarding the NSP income limits.
Councilmember Wood announced that he would not be unable to attend the Study
Session tomorrow evening due to a scheduling conflict.
EXECUTIVE SESSION - none scheduled
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12. Correspondence included -
Sand in the City 2013 August 23, 24 &25 @ Hands on Children's Museum
Ribbon Cutting Ceremony, August 29, 5:30 - 7pm 13411 Cedar Grove Lane
Bow Wow Boogie at the Barn Friday, August 30, 2013 5 to 8 pm @ the Munro's
residence @ 5041 Houston Dr. NW Olympia
Olympia, Lacey and Tumwater Visitor & Convention Bureau E -Newsletter dated
August 15, 2013.
Farwell celebration to honor Don Krupp, Thurston County Manager, Wednesday,
September 4, 2013 3:30-6 pm @ the Thurston County Courthouse in Olympia.
Port of Olympia, Say Goodbye to Summer at Harbor Days Aug. 1 -Sept. 1, on the
Olympia waterfront.
TRPC Pre -Agenda Friday, Sept. 6, 2013 8:30-11:00
Emergency Preparedness Expo Saturday, Sept. 7, 2013 10am-3pm Saint Martin's
University Lacey Campus.
13. Adjourn 6:25 pm.
Attest• 2t�
R n Hard' g, Mayov Lori Mossman, Deputy City Clerk
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