>>> GOOD MORNING, EVERYONE. THE
JULY 26th, 2023 MEETING WILL
COME TO ORDER. IT IS 9:37. I'M
SARAH NELSON, CHAIR OF THE
COMMITTEE. COUNCILMEMBERS
STRAUSS AND SAWANT HAVE ASKED T
BE EXCUSED.
>> WE'LL HAVE TWO PRESENTATIONS
FROM THE OFFICE OF ECONOMIC
DEVELOPMENT, THE FIRST ON THE
FUTURE OF SEATTLE ECONOMY AND
THE SECOND ON OED'S COMMUNITY
WEALTH BUILDING PROGRAM. I'M
GOING TO 7 IS A RESOLUTION
ADOPTING THE GOALS AND
STRATEGIES OUTLINED IN THE
FUTURE OF SEATTLE ECONOMY
INVESTMENT AGENDA FOR A
BRIEFING, DISCUSSION AND
POSSIBLE VOTE. THEN WE'LL HEAR
FROM BAKER TILLEY WITH ITS
ANNUAL INDEPENDENT FINANCIAL
AUDIT OF SEATTLE CITY LIGHT.
WITH THAT I WILL APPROVE THE
AGENDA IF THERE ARE NO
OBJECTIONS. OKAY, THE AGENDA IS
ADOPTED AND WE'LL MOVE INTO
PUBLIC COMMENTS STARTING WITH
IN-PERSON PUBLIC COMMENTORS. WE
DON'T HAVE ANYBODY SIGNED UP IN
PERSON AND TWO SIGNED UP
REMOTELY. YOU'LL HAVE TWO
MINUTES, AND PLEASE SPEAK TO
ITEMS LISTED ON THE AGENDA. WHE
YOU HEAR THE CHIME, YOU HAVE TE
SECONDS REMAINING TO SPEAK.
REMEMBER TO PRESS STAR SIX TO
UNMUTE YOURSELF. THE FIRST
SPEAKER IS IS SHAUNTE BRESNA.
>> I'M SPEAKING ON THE WEALTH
BUILDING PROGRAM. I'M SORRY, CA
YOU HEAR ME?
>> YES, I CAN HEAR YOU.
>> OKAY. SO I WANTED TO PROVIDE
A LITTLE BIT OF BACKGROUND,
BECAUSE THERE'S QUITE A BIT OF
WORK THAT HAS BEEN DONE IN THE
PAST THAT SUPPORTED THE CREATIO
OF THIS NEW INITIATIVE. IN 2016
WORKING IN PARTNERSHIP WITH
FRIENDS OF LITTLE SAIGON AND TH
BIA IN CHINATOWN, OED STARTED
FUNDING COMMUNITY-BASED SMALL
BUSINESS DEVELOPMENT SERVICES I
CHINA INTERNATIONAL DISTRICT. A
THE TIME THERE WAS A VACANCY
PROBLEM AND THE IDEA WAS TO FIL
SPACES WITH CULTURALLY
APPROPRIATE BUSINESSES THAT
COMPLEMENTED THE CURRENT
BUSINESSES AND RETAIN LEGACY
BUSINESSES. THIS EVOLVED INTO
ONE ON ONE TECHNICAL SERVICE
ASSISTANCE AROUND HELPING SMALL
BUSINESSES FIND AND EVALUATE
SPACE, MAKE SURE IT WAS A GOOD
FIT AND SUPPORT THEM THROUGH
BUSINESS PLANNING, AND FINANCIN
OF ANY IMPROVEMENTS THEY MAY
NEED OR AN EXISTING SPACE TO
IMPROVE WHAT THEY HAVE, AND TO
SUPPORT THEM AROUND
NEGOTIATIONS. LETTERS OF INTENT
WITH LANDLORDS, LEASE TERMS,
RENEWALS. ALSO THERE WERE
WORKSHOPS DONE IN COOPERATION
WITH OED STAFF THAT HELPED
SUPPORT THIS LEASING WORKSHOP,
AND IMPROVEMENT DESIGN
WORKSHOPS, ALL OF WHICH SORT OF
LED TO UNDERSTANDING THAT SOME
ADDITIONAL FUNDING WAS NEEDED T
ACTUALLY SUPPORT TENANT
IMPROVEMENT, BECAUSE IT IS SO
COSTLY. ANYWAY, THERE'S A LOT T
SAY. IT'S BEEN EIGHT YEARS OF
WORK WORKING WITH THE COMMUNITY
AND NONPROFITS AND OED, AND I
JUST WANTED TO GIVE A LITTLE BI
OF BACKGROUND. THANK YOU.
>> THANK YOU VERY MUCH FOR THAT
OUR NEXT AND LAST SPEAKER IS
BINYAM TESTIMICHAEL. PLEASE
CORRECT MY ANNUNCIATION AS WELL
PRESS STAR SIX TO UNMUTE
YOURSELF.
>> HELLO?
>> HELLO, WE CAN HEAR YOU.
>> YEAH, I'M ONE OF THE
BENEFICIARY OF THE GRANT. MY
EXPERIENCE WAS VERY HELPFUL, AN
I'M LOOKING FORWARD TO IMPLEMEN
IN MY BUSINESS. RIGHT NOW I'M I
THE PROCESS OF BUILDING ANOTHER
BUILDING, AND ALSO MAKING THING
BETTER FOR MY CUSTOMERS TO HAVE
MORE SEATING OPPORTUNITIES. I'M
VERY GRATEFUL FOR THE HELP IN
GOING THROUGH THIS WITH THE HEL
GOING THROUGH THE PROCESS,
HELPING WITH USING THE SPACE
VERY WELL. THANK YOU.
>> THANK YOU VERY MUCH. ALL
RIGHT. SO, I DO NOT SEE ANY
OTHER PUBLIC COMMENTORS SIGNED
UP, EITHER IN PERSON OR ONLINE,
SO I WILL CLOSE PUBLIC COMMENT
AND WE'LL MOVE ON TO THE FIRST
ITEMS ON THE AGENDA. WE'LL TAKE
THE REAPPOINTMENTS AS A GROUP.
>> AGENDA ITEM NUMBER ONE,
APPOINTMENT 02627, REAPPOINTMEN
OF JASON CLACKLEY AS MEMBER OF
THE SEATTLE MUSIC COMMISSION FO
A TERM TO AUGUST 31st, 2026.
TWO, REPAYMENT OF ANDREW JOSLYN
FOR A TERM TO AUGUST 31st, 2026
AND REAPPOINTMENT OF ERIC
LILAVOIS AS MEMBER OF SEATTLE
MUSIC COMMISSION FOR A TERM TO
AUGUST 31st, 2026. AND
REAPPOINTMENT OF ANN BERRY
O'DOWD AS MEMBER OF THE SEATTLE
MUSIC COMMISSION FOR A TERM TO
AUGUST 31st, 2026. FOR BRIEFING
DISCUSSION AND POSSIBLE VOTE.
>> I'VE GIVEN A LOT OF LOVE TO
THE NEWLY CREATED SEATTLE FILM
COMMISSION THIS YEAR, AND THE
MUSIC COMMISSION WHICH WAS
ESTABLISHED IN 20 DESERVES AN
EQUAL AMOUNT OF APPRECIATION AN
MY PERSONAL GRATITUDE. THIS IS
ALSO A DRIVER OF ECONOMIC GROWT
AND JOBS, AND POLICY
RECOMMENDATIONS HAVE SERVED TO
STRENGTHEN SEATTLE'S MUSIC
SCENE, ART SCENE, NIGHT LIFE
SCENE, AND BASICALLY HELP KEEP
VENUES AND ARTISTS EMPLOYED AND
IN SEATTLE THROUGHOUT THE
PANDEMIC. SO I WANT TO MAKE SUR
THAT WE RECOGNIZE THE IMPORTANC
OF THE MUSIC COMMISSION TO THE
SEATTLE CREATIVE ECONOMY
OVERALL. WITH THAT, I'LL HAVE
SCOTT PLUSQUELLEC TALK ABOUT TH
COMMISSION AND REAPPOINTMENTS.
>> THANK YOU SO MUCH, CHAIR
NELSON. I APPRECIATE THE
SENTIMENTS YOU PROVIDED. I'M
SCOTT PLUSQUELLEC, THE NIGHT
LIFE BUSINESS ADVOCATE IN THE
OFFICE OF ECONOMIC DEVELOPMENT
AND I AM THE ADMINISTRATIVE
SUPPORT FORT SUPPORT FOR THE
SEATTLE MUSIC COMMISSION. THEY
WERE RATIFIED IN 2014, A GROUP
OF INDUSTRY AND COMMUNITY
VOLUNTEER STAKE HOLDERS
ASSEMBLED TO ADVISE THE OFFICE
OF ECONOMIC DEVELOPMENT IN
ADVOCACY FOR AND POLICY RELATED
TO SEATTLE'S GROWTH OF THE LOCA
MUSIC INDUSTRY AND COMMUNITY.
THE 21 SEATS, 11 APPOINTED BY
THE MAYOR AND TEN BY COUNCIL,
REPRESENT A BROAD RANGE OF
BACKGROUNDS. TODAY I'M BRINGING
FORWARD FOUR APPOINTMENTS, AS
NOTED. TWO ARE MAYORAL AND TWO
ARE COUNCIL. THESE ARE CURRENTL
SEATED COMMISSIONERS WHO ARE
SEEKING TO BE REAPPOINTED TO A
SECOND TERM. IF I CAN, I WOULD
DO A QUICK OVERVIEW OF EACH OF
THEM AND TAKE THEM IN THE ORDER
THEY WERE LISTED. JASON
CLACKLEY, A COUNCIL
REAPPOINTMENT, ORIGINALLY
APPOINTED IN JULY 2021 TO FILL
AN EMPTY SEAT. THE REAPPOINTMEN
WILL BE FOR A FULL THREE-YEAR
TERM, EXPIRING 8/26. HE IS A
YOUTH MENTOR AND RECORDING
ARTIST, HELPING RUN MANY ALL
AGES PROGRAMS LIKE FUSION CAFE
AT THE DOWNTOWN YMCA, BLACK
LODGE AND GROUND ZERO'S MUSIC
PROGRAM. HE'S CURRENTLY VICE
CHAIR OF THE MUSIC COMMISSION.
NEXT UP, ANDREW JOSLYN, A
MAYORAL APPOINTMENT IN 2021 TO
FILL THE REMAINDER OF A TERM.
THIS WOULD BE FOR A FULL
THREE-YEAR TERM EXPIRING IN
2026. HE IS AN AWARD-WINNING
COMPOSER AND VIOLINIST, AND
CURRENTLY RUNS HIS OWN
PRODUCTION STUDIO IN NATIONAL
AND IS A NATIONAL TRUSTEE FOR
THE PACIFIC NORTHWEST CHAPTER O
THE ACCORDING TO ACADEMY,
OTHERWISE KNOWN AS THE GRAMMYS.
THIRD IS ERIC LILAVOIS,
ORIGINALLY APPOINTED IN JULY
2021 TO FILL THE REMAINDER OF A
TERM. ERIC IS A SEATTLE-BASED
RECORD PRODUCER, ENGINEER,
MIXER, MUSICIAN AND SONG WRITER
AND HAS EARNED SUBSTANTIAL
PRODUCTION AND ENGINEERING AND
MIXING CREDITS. HE'S ALSO AN
OWNER OF THE FAMED LONDON BRIDG
STUDIO. OUR FOREST
REAPPOINTMENT, ANN O'DOWD, ALSO
A MAYORAL APPOINTMENT TO FILL
THE REMAINDER OF A TERM. THIS
WOULD BE A FULL TERM EXPIRING I
AUGUST 2026. THERE'S A DECADE A
THE NORTHWEST FESTIVAL AS WELL
AS PRIDEFEST AND OTHERS, AND IS
CURRENTLY PUTTING THESE SKILLS
TO WORK AS HER ROLE AS THE
EVENTS MANAGER AT FRIENDS OF TH
WATERFRONT SEATTLE. THAT
CONCLUDES MY PRESENTATION.
>> THANK YOU VERY MUCH. THIS IS
A 21-PERSON COMMISSION,
AMBASSADOR CURRENTLY HAS NO
VACANCIES?
>> CORRECT.
>> AND THAT'S TESTAMENT -- FIRS
OF ALL, THANK YOU VERY MUCH FOR
YOUR SHEPHERDING ALL THESE
APPOINTMENTS AND MAKING SURE
THAT THE COMMISSIONERS HAVE
EVERYTHING THEY NEED TO DO THEI
WORK ON THE COMMISSION. IT'S A
LOT OF WORK TO ADMINISTER A
COMMISSION. WE ARE LUCKY THE
CITY OF THE SEATTLE HAS PEOPLE
WITH THE CALIBER AND TALENT THA
THESE COMMISSIONERS HAVE,
ADVISING SEATTLE, GIVING OF
THEIR TIME AND SERVICE. IN
ADDITION TO THE TIDBITS WE
LEARNED ABOUT THESE FOLKS -- AN
I URGE EVERYBODY TO READ THE
AGENDA PACKETS, BECAUSE THERE'S
A LOT OF INTERESTING INFORMATIO
IN THERE THAT WASN'T SAID. I
JUST WANT TO SAY THAT THE
INDIVIDUALS THAT ARE SERVING,
THANK YOU VERY MUCH. AND OUR AR
AND MUSIC SCENE, NIGHT LIFE, ET
CETERA, THE QUALITY OF LIFE IN
SEATTLE WOULD NOT BE THE SAME
WITHOUT THE WORK O. MUSIC
COMMISSION. BEFORE WE GO ONTO A
VOTE, I'LL ASK IF MY COLLEAGUE
HAVE ANY QUESTIONS.
>> NO QUESTIONS, THANK YOU.
>> OKAY. THANK YOU. I ATTENDED
AN EVENT AT THE PROJECT RECENTL
THAT WAS CONVENED BY THE MUSIC
COMMISSION IN WHICH YOU
PRESENTED THE RESULTS OF A
SURVEY. COULD YOU MENTION WHAT
THAT WAS BEFORE WE GO ONTO A
VOTE?
>> SURE. IN 2010, THE MUSIC
COMMISSION UNDERTOOK A VISION O
SEATTLE MUSIC, WHICH WAS A
TEN-YEAR PLAN DESIGNED TO MAP
OUT WHERE THE COMMISSION WORK
AND WHERE THE CITY SHOULD BE IN
SUPPORTING THE MUSIC INDUSTRY
OVER A TEN-YEAR PERIOD, WHICH
WOULD HAVE ENDED IN 2020, AND
THERE WAS PANDEMIC SO THAT
WASN'T PICKED UP AGAIN. THIS
YEAR THEY HAVE PICKED UP THE MA
TELL TO RELOOK AT THE VISIONING
AND PLAN FOR THE NEXT FIVE TO
TEN YEARS AS WELL. PART OF THAT
WAS A SURVEY DONE MUSIC
INDUSTRY, STAKE HOLDERS WIN
SEATTLE, TO GET FEEDBACK ON
WHERE THEY THINK THE INDUSTRY
SHOULD BE. SO THE MIXER WAS A
WAY TO BRING THAT TO THE
COMMUNITY. WE INVITED A LARGE
NUMBER OF PEOPLE WHO HAD FILLED
OUT THE SURVEY AS WELL AS OTHER
FOLKS WHO WERE JUST INTERESTED
IN IT, AND PROVIDED THE INITIAL
HIGH LEVEL INPUT.
>> THANK YOU VERY MUCH. THANK
YOU FOR THAT.
>> THANK YOU.
>> WE WILL NOW MOVE THESE ITEMS
I MOVE THE COMMITTEE RECOMMENDS
CONFIRMATION OF ALL
APPOINTMENTS. IS THERE A SECOND
>> SECOND.
>> IT'S BEEN MOVED AND SECONDED
TO RECOMMEND CONFIRMATION OF TH
APPOINTMENTS. PLEASE CALL THE
ROLL.
>> COUNCILMEMBER JUAREZ.
>> AYE.
>> COUNCILMEMBER HERBOLD.
>> YES.
>> CHAIR NELSON?
>> AYE.
>> THREE IN FAVOR, ZERO OPPOSED
>> THE MOTION CARRIES AND THE
COMMITTEE RECOMMENDS THAT THE
APPOINTMENTS BE CONFIRMED, TO B
FORWARDED TO THE CITY COUNCIL
FOR FINAL CONSIDERATION AT
COUNCIL'S MEETING ON TUESDAY,
AUGUST 1st. PLEAD READ ITEM
FIVE.
>> AGENDA ITEM NUMBER FIVE,
OFFICE OF ECONOMIC DEVELOPMENT
FUTURE OF SEATTLE ECONOMY
PRESENTATION FOR BRIEFING AND
DISCUSSION.
>> THANK YOU. WHILE WE ARE
WAITING FOR FOLKS TO COME UP TO
THE TABLE, I WANT TO NOTE WHAT
WE ARE ABOUT TO HEAR IS LIKE A
ROAD MAP FOR HOW THE OFFICE OF
ECONOMIC DEVELOPMENT PLANS TO
BUILD AN INCLUSIVE ECONOMY IN
THE CITY OF SEATTLE THROUGH
SPECIFIC PRIORITY INVESTMENTS,
BASED ON THE FUTURE OF SEATTLE
ECONOMY REPORT, WHICH IS THE
CULMINATION OF AN INTENTIONAL
PROCESS TO DEVELOP A TRANSPAREN
COMMUNITY FOR THE CITY TO
PROMOTE INCLUSIVE ECONOMIC
GROWTH. IT'S THE PRODUCT OF A
TEAM OF COLLABORATIVE PARTNERS
BASED ON A STRUCTURED PROCESS
AND INCLUDED OVER 80 INDIVIDUAL
REPRESENTING LOCAL ECONOMIC
DEVELOPMENT AND COMMUNITY BASED
ORGANIZATIONS, BUSINESS, FLAUN
IF YOU AND MORE. I'M GLAD TO
WELCOME TWO MEMBERS BACK TO
COMMITTEE, DONNA GOODIE AND ERI
GOODMAN. THESE INTRODUCE
YOURSELVES .
>> OUR PORTION IS JUST A
REFRESHER ON THE FUTURE OF
SEATTLE PROJECTS. THE REAL MEAT
COMES FROM THE COMMUNITY WEALTH
BUILDING TEAM, WHO'S SITTING
BEHIND ME. THIS IS JUST A SETUP
FOR THE NEXT PRESENTATION. THE
PANDEMIC WAS DIFFICULT,
PARTICULARLY FOR SMALL
BUSINESSES, DISPROPORTIONATELY
IMPACTING CERTAIN COMMUNITIES
AND GEOGRAPHIES. WE FEEL LIKE
THERE'S A MORAL IMPERATIVE,
PARTICULARLY WITH THE RACIAL
WEALTH GAP. SO THE CITY COUNCIL
DID DIRECT OED TO CREATE A PLAN
FOR HOW WE WERE GOING TO
REVITALIZE THE ECONOMY AND SET
US UP FOR A DIFFERENT MORE
EQUITABLE AND DIVERSE ECONOMY I
THE FUTURE. THIS WAS THE FRAME
WORK WE BUILT. IT STARTED WITH
THE IDEA THAT AN INCLUSIVE
ECONOMY IS MORE COMPETITIVE AND
PROSPEROUS, SO WE SHOULD BE MOR
INCLUSIVE. TODAY THAT, WE WANT
TO ALIGN AROUND SHARED
PRIORITIES, NOT JUST WITH THE
CITY BUT COMMUNITY PARTNERS,
BUSINESSES, THE WHOLEFUL
ECONOMIC DEVELOPMENT,
TECHNOLOGY, AND CITY LIGHT
COMMITTEE WORK FORCE. THEN WE
WANTED TO THINK ABOUT THE
INVESTMENTS REQUIRED TO DO THAT
WE HAVE LISTED THOSE OUT IN A
FEW DIFFERENT FORMS. ALSO
THINKING ABOUT THE ROLE OF THE
CITY AND OED WITHIN THAT
ECOSYSTEM, HOW DO WE KEEP THE
ROLE MOVING AND ACT AS A
VISIONARY? THAT LED TO THE
PURPOSE, WHICH IS THE FRAME WOR
TO PROMOTE INCLUSIVE AND
ECONOMIC GROWTH IN THE CITY,
STATE, REGION AND BEYOND. SO TH
PROCESS, WE DID A NUMBER OF
THINGS TO TRY AND REACH OUR
CONCLUSIONS. ONE WAS TO DO A
FAIR BIT OF RESEARCH LOOKING AT
WHAT STRATEGIC PLANS WERE
ALREADY OUT THERE LOCALLY,
REGIONALLY AND NATIONALLY, TO
TRY AND UNDERSTAND WHAT PEOPLE
THOUGHT OF FOR HOW WE COME OUT
OF THE PANDEMIC WITH A NEW AND
BETTER ECONOMY. THAT FORMED OUR
PHASE ONE RESEARCH, WHICH LED U
TO DEVELOPING THE FIVE PILARIS.
EACH OF THE WORK GROUPS THEN
RECOMMENDED THEIR MEDIAN
INVESTMENTS THAT WE THOUGHT
COULD SET THE TRAJECTORY COMING
OUT OF THE PANDEMIC, AND SOME
BIG BETS AS WELL. IF WE WANT TO
DESIGN THE FUTURE, WE HAVE TO
PUSH FORWARD A DIFFERENT TYPE O
ECONOMIC DEVELOPMENT. WITH THAT
I'LL TURN IT OVER TO OUR CHAIR
TO SEE IF YOU HAVE ANY COMMENTS
ABOUT THE PROCESS, HOW THE WORK
GROUPS WENT, AND ANY SORT OF
REFLECTIONS YOU HAVE THERE.
>> THANK YOU. I THINK AS SOMEON
WHO'S WORKED IN A
COMMUNITY-BASED ORGANIZATION,
WORKING WITH THE CITY FOR A
NUMBER OF YEARS, DECADES, WHAT
REALLY APPRECIATED ABOUT THIS
PROCESS WAS THE BOTTOM-UP FEEL
TO IT, THE FACT THAT IT WASN'T
COMING AT US WITH WE KNOW WHAT
WE DO. IT'S WHAT IS WORKING AND
HOW DO WE SUPPORT THAT WORK? TO
BE A PART OF THIS, AND THE
NUMBER OF PEOPLE THAT WERE
INVOLVED WAS A REALLY UNIQUE
EXPERIENCE, AS SOMEONE WHO
PARTICIPATES FREQUENTLY IN CITY
PROCESSES.
>> I WOULD JUST ADD THAT, AS
SOMEONE WHO PARTICIPATES A LOT
IN THE PROCESS, THIS SEEMED VER
THOROUGH AND IN-DEPTH. I
APPRECIATED THE CONSULTANT
SUPPORT AND ALSO THE PRECURSOR.
SO WHEN WE STARTED THE PROJECT,
WE HAD A CLEAR IDEA OF WHAT THE
GOALS WERE AND THE DESIRED
OUTCOME AND HOW TO GET THERE. A
WE SIT HERE TODAY, WHAT I SEE
AND APPRECIATE IS THAT IT'S
CONTINUING. IT WASN'T DONE AT
THE END OF THE PROCESS LAST
YEAR. WE ARE LOOKING AT
IMPLEMENTING THE CHANGES THAT
WOULD IMPACT THE STABILITY AND
FEASIBILITY OF SMALL BUSINESSES
I THINK IT'S CLEAR TO EVERYONE
ON COUNCIL AND STAKE HOLDERS IN
THE CITY IS THAT IF WE DON'T DO
SOMETHING TO SUPPORT SMALL
BUSINESSES, WE ARE GOING TO END
UP WITH A BIG BOX CITY THAT
LACKS THE FABRIC THAT MAKES A
CITY FUN AND CHALLENGING TO
VISIT. ALSO THE WHOLE IDEA
DIVERSITY OF THE INVESTMENTS IN
THOSE BUSINESSES IN SEATTLE.
>> AND WE ARE LUCKY TO HAVE
FANTASTIC CHAIRS OF THESE
GROUPS, CONTINUING TO MEET AND
TALK ABOUT STRATEGIES, STILL IF
I WERING OUT HOW STILL FIGURIN
OUT HOW WE MOVE FORWARD. NEXT
SLIDE, PLEASE. THIS IS JUST A
REMINDER OF WHO WAS IN THE WORK
GROUPS. AS COUNCILMEMBER NELSON
MENTIONED, IT WAS A LOT OF
PEOPLE FROM DIFFERENT
BACKGROUNDS, COMMUNITY MEMBERS.
WE DIDN'T CALL IT OUT BUT WE HA
THE INVESTOR ALIGNMENT THINKING
IT'S NOT JUST CITY DOLLARS, BUT
PRIVATE AND PHILANTHROPIC
DOLLARS TO HELP US DO OUR WORK.
THAT'S A KEY PART, CITY BEING
ONE LAYER AND BRINGING IN OTHER
DOLLARS TO DO THAT WORK. NEXT
SLIDE. THIS IS JUST A REMINDER
THAT ALL THESE PILLARS HAVE
THEIR WORK PLAN INTERSECT IN A
LOT OF DIFFERENT POINTS. AS WE
CONTINUE TO DEVELOP OED'S
FABULOUS TEAM, HOW DO WE MAKE
SURE WE ARE SEEING THIS AS A
MATRIXED APPROACH RATHER THAN A
SILOED APPROACH? AND TRYING TO
THINK ABOUT ACCESS, THAT THAT I
A PARAMOUNT PART OF MAKING
INCLUSIVE ECONOMIES. WE HAVE A
DYNAMIC ECONOMY BUT NOT EVERYON
HAS THE SAME LEVEL OF ACCESS OR
OPPORTUNITY WITHIN IT . AND YOU
CAN SEE THE BUDGET PROPOSALS
CONTINUING FORWARD WILL SUPPORT
OUR PLANS. NEXT SLIDE. AS I
MENTIONED, THERE WAS A LOT OF
RESEARCH UNDERGIRDING THIS, SO
AS MUCH AS THE WORK GROUPS AND
CONVERSATIONS WERE IMPORTANT,
THERE'S A FAIR AMOUNT OF KIND O
SCHOLARSHIP IN THE THINKING
HERE. YOU CAN FLIP THROUGH IT,
PLENTY OF PAGES. NEXT SLIDE.
THIS IS THE KIND OF COLOR CODED
TABLE THAT WE HAVE SHOWN YOU
BEFORE, WHERE WE ARE TRYING TO
SHOW BOTH THE NEAR TERM
INVESTMENTS AND THE BIG BETS
THAT CAME OUT OF THE WORK GROUP
AND THE CONNECTIVENESS BETWEEN
THE WORK GROUPS AND HOW THEY
OPERATE IN VENN DIAGRAM. SO
INVESTMENTING IN CITY NAVIGATIO
SUPPORT, AT OED, WE HAVE
TRAMPLED TRANSFORMED A TEAM TO
MAKE IT EASY AND ACCESS FOR
BUSINESSES THAT HAVE QUESTIONS
ABOUT CITY-LED PROCESSES, HAVIN
AS CLEAN AS EASY AND INTERFACE
AS POSSIBLE TO RESPOND TO THEIR
NEEDS QUICKLY AND OFFICIAL
EFFICIENTLY. YOU HAVE HEARD
ABOUT THE SEATTLE RESTORED
PROGRAM. IT'S BEEN SUCCESSFUL
BUT WE WANT TO THINK ABOUT HOW
WE GET PEOPLE INTO LONGER TERM
LEASES, DIFFERENT LEASING
MODELS, THINGS WE ARE WORKING O
THERE. THAT CONTINUES TO EVOLVE
WHILE WE ARE TRYING TO GET STOR
FRONTS FILLED AS QUICKLY AS
POSSIBLE. WE NEED TO THINK ABOU
MID-SIZE BUSINESS GROWTH, AND
THIS RELATES TO THE FIRST ONE.
WE HAVE HEARD THAT SOME OF THEI
STRUGGLES IS WHEN I KNOW THEY
CAN'T GET THEIR HOOK-UPS AS
QUICKLY AS THEY WOULD LIKE, OR
THEY ARE HAVING ISSUES WITH
OTHER CITY DEPARTMENTS. THE MOR
WE CAN BE A CONNECTIVE TISSUE
BETWEEN WHAT THE BUSINESSES NEE
AND WHAT PARTNERS ARE HEARING
FROM THEM, TRY AND MAKE THAT AS
CLEAN AND EFFICIENT AS POSSIBLE
IS A CLEAR ROLE FOR US. THEN WE
NEED TO THINK ABOUT STRATEGIES,
HELPING THEM GROW . YOU'LL HEAR
MORE ABOUT THIS, AND IT'S A
REALLY IMPORTANT PART OF OUR
WORK. IT'S VERY EXCITING. I
THINK THAT WILL BE AN IMPORTANT
PRESENTATION AND PART OF OUR
WORK GOING FORWARD. THEN LASTLY
JUST THINKING ABOUT CHILD CARE.
AS WE THINK ABOUT BARRIERS TO
PEOPLE PARTICIPATING OR HAVING
ACCESS IN THE WORK FORCE, CHILD
CARE IS A HUGELY IMPORTANT ONE.
BACK TO THE DOWNTOWN ACTIVATION
PLAN AT THE END, I'LL TALKING
ABOUT CHILD CARE THEN. NEXT
SLIDE, PLEASE.
>> PARDON ME, EXCUSE ME.
QUESTION?
>> YEAH.
>> I HAD A QUESTION ABOUT HOW T
READ THE LAST SLIDE.
>> SURE.
>> IN THE LEGEND IT SHOWS A DOT
AND I'M ASSUMING IT MEANS ANY O
THESE DOTS?
>> CORRECT.
>> SHARED PRIORITY? CAN YOU
EXPLAIN, SHARED WITH WHOM?
>> FOR INSTANCE ON THAT
SPECIALIZED ASSISTANCE FOR
GROWTH, WORK FORCE AND TALENT I
A BIG NEED FOR THEM TO BE ABLE
TO GROW, SO THAT'S WHY IT'S A
SHARED PRIORITY WITH THE WORK
FORCE PILLAR.
>> SO THERE'S A TALE DOT THAT
ALIGNS THERE?
>> CORRECT. IT SHOWS IT CAME UP
WITH BOTH WORKING GROUPS. IT'S
AN AREA WHERE WE ADD OED NEED T
BE THINKING ABOUT THE
INTERCONNECTIVE NATURE OF THE
PROBLEM.
>> PERFECT, THANK YOU SO MUCH.
>> YEP.
>> I HAVE A QUESTION, A QUICK
ONE. I DON'T HAVE THE --
UNFORTUNATELY I SHOULD HAVE
PRINTED OUT YOUR SLIDE DECK. I
HAVE THE SLIDE DECK BUT WITHOUT
THE PRESENTATION. MARKHAM, THIS
IS REALLY HELPFUL. I WANT TO SA
HELLO TO DON AND ERIN AS WELL.
WHAT I WANTED TO ASK -- AND THI
MAY BE VERY SIMPLE, BUT I JUST
WANT TO KNOW: HOW DID YOU
DECIDE ON WHAT WAS A BIG BET?
>> THOSE ARE THE ONES THAT THE
WORK GROUPS FELT WERE COMPLEX
AND EXPENSIVE ENOUGH, THAT IT
WOULDN'T BE JUST SNAP OUR
FINGERS AND DO, BUT WOULD
REQUIRE A SIGNIFICANT LEVEL OF
INVESTIGATION AND PLANNING TOO
MOVE THE NEEDLE ON. IS THAT
FAIR?
>> YES. AND THE CHILD CARE
ISSUE, THAT'S BEEN AN ISSUE AS
LONG AS I'VE BEEN IN GOVERNMENT
THAT'S MORE YEARS THAN I CARE T
ADMIT. WE HAVE NOT INVESTED IN
THE PHYSICAL INFRASTRUCTURE AS
CITY, FOR MAINLY WOMEN TO GET
THEIR KIDS INTO CHILD CARE AND
GET TO WORK. FOR ME FROM A
POLICY PERSPECTIVE, I THINK
THAT'S MORE THAN A BIG BET. I
THINK THAT'S LIKE A PRIORITY,
NOT A SIDE ISSUE. FOR WOMEN,
SMALL BUSINESSES OWNERS, IT
SHOULD BE LIKE ANYWHERE ELSE,
JUST A BASIC. WE DON'T SEE THAT
REFLECTED IN OUR POLICY, NOT
JUST HERE BUT ACROSS THE NATION
SO I'M GLAD TO SEE THAT THERE
AND I'M GLAD YOU'RE GIVING IT
ATTENTION, AND I HOPE WE SEE
MORE OF THAT. I KNOW ONLY 15% O
THE JUMP START IS DEDICATED TO
THIS BUT WE NEED MORE BRICK AND
MORTAR CHILD CARE IN CONVENIENT
PLACES. IT'S A NECESSITY THAT
PEOPLE SHOULD HAVE 6789 SO THAN
YOU.
>> I COULDN'T AGREE WITH YOU
MORE AS A MOTHER WITH MY
YOUNGEST GOING INTO HIGH SCHOOL
THIS WAS A REALITY. WE WERE TOL
AS CHAIRS THAT THINGS WE THOUGH
THE CITY EASILY PICK UP WOULD B
THE FIRST ONES, AND THINGS
NEEDING OTHER DEPARTMENTS
OUTSIDE OED OR ADDITIONAL
LEGISLATION OR ADDITIONAL FUNDS
WAS HOW WE PUT THE BIG BET STAR
ON IT. I THINK THAT DID YOU
UNDERSTAND UNDERMINE THE FACT
THAT THAT'S EXTREMELY IMPORTANT
TO THE COMMITTEE.
>> AND IT REQUIRES A
COLLABORATIVE BELIEF THAT IT'S
POSSIBLE WITH EFFORT. THAT WOUL
BE A HUGE UNDERTAKING, AND THE
BELIEF WOULD BE IN MANY WAYS TH
FIRST STAGE IF PEOPLE DETERMINE
IT'S WORTH EFFORT TO GET THERE.
>> THANK YOU.
>> ANYTHING ELSE ON THE AGENDA
OR THE PROCESS?
>> GOOD FOR NOW, THANK YOU.
>> YOU KNOW, I THINK WHAT WE SA
-- AND I THINK THIS IS A
TESTAMENT OF THE WORK OED HAS
DONE OVER THE YEARS -- WHEN WE
SPOKE AMONGST THE WORK GROUPS,
IT WASN'T A LIST OF ALL NEW
IDEAS. IT WAS A COMBINATION OF
THINGS THAT HAVE BEEN STARTED I
A SMALL WAY THAT THE COMMUNITY
REALLY FELT WERE WORKING AND
NEEDED MORE INVESTMENT. I THINK
THAT IS, YOU KNOW, AN IDEAL WAY
TO SAY OED WAS DOING A LOT OF
THE RIGHT THINGS AND THESE WERE
ADDITIONAL THINGS THE COMMUNITY
FELT NEEDED TO ADD TO THAT
AGENDA.
>> I WILL JUST PILE ON THEN LET
YOU GO ON. YOU MENTIONED
SOMETHING IN THE BEGINNING LIKE
NOT REINVENTING THE WHEEL HERE.
YOU'RE LOOKING AT WHAT'S ALREAD
HAPPENING AND PROCESS WAS
IMPORTANT. WE DIDN'T PUT A BUNC
OF PEOPLE IN A ROOM AND TELL
THEM TO DRAW UP A WISH LIST.
THERE WAS VERY INTENTIONAL IN
TRYING TO FIGURE OUT HOW WE CAN
LEVERAGE THE KNOWLEDGE AND
EXPERTISE OF THE WORK GROUP
MEMBERS TO REALLY PUT FORWARD A
COHERENT PLAN.
>> I THINK THAT'S SPOT ON. PART
OF THE WORK IS FIGHTING AGAINST
FRAGMENTATION. THE MORE BOUTIQU
PROGRAMS WE HAVE, THE LESS WE
CAN SCALE FOR IMPACT. THAT LEAD
US TO THE NEXT SLIDE, CLARIFYIN
AS PART OF -- ONE OF THE
OUTCOMES WAS TO CLARIFY OED'S
ROLE. IT'S RESPONDING AND
IMPLEMENTING TO BUSINESSES THAT
HAVE IMMEDIATE NEED WITH AN
EMERGENCY OR CRISIS MOMENT. AND
TO ORGANIZE AND BUILD, AND WHER
WE IDENTIFY IN GAPS OR
OPPORTUNITIES WHERE WE CAN
PROVIDE A CLEAR AND
COMPREHENSIVE WRAP AROUND
SUPPORT FOR BUSINESSES AND
WORKERS. THEN THERE WAS THE CAL
FOR THE CITY TO HAVE A REAL
VISION ABOUT THE FUTURE OF
SEATTLE'S ECONOMY AND HOW TO
TRANSFORM IT. THAT GETS TO SOME
OF THOSE THINGS THAT HAVE BEEN
STICK POINTS AFTERCLEAR
OPPORTUNITIES WHERE WE CAN MAKE
A DIFFERENCE IN THE FUTURE OF
SEATTLE'S ECONOMY. LASTLY, JUST
MAKING SURE ALL THE WHILE WE AR
SUPPORTING LEADERSHIP OF OTHER
DEPARTMENTS, COMMUNITY PARTNERS
MAKING SURE WE HAVE A GOOD
CULTURE IN THE OFFICE OF
ECONOMIC DEVELOPMENT SYSTEM, NO
JUST TACTICAL LIST. THAT'S CLOS
TO THE END OF THE PRESENTATION
OED WAS LEADING THE DEVELOPMENT
OF THAT ACTIVATION PLAN BY THE
MAYOR AND WE WANTED THE DOWNTOW
ACTIVATION PLAN TO FIT WITHIN
THE FRAME WORK OF THE FUTURE OF
ECONOMY FRAME WORK. IT WAS NOT
SEPARATE THING. MANY OF THE
THINGS THEY ARE BEING ASKED TO
DO ARE CONSISTENT WITH WHAT WE
OUTLINED IN THE FUTURE OF THE
SEATTLE ECONOMY PROJECT. IT'S
NOT TWO SEPARATE THINGS BUT A
WELL INTEGRATED SET OF
PRIORITIES. THIS IS A GREAT
EXAMPLE OF USING THE FRAME WORK
GOING FORWARD, OPERATING WITHIN
IT EVEN WITH DIFFERENT CHANGERS
FROM THE MAYOR'S OFFICE OR
OTHERS. WE WANT TO HAVE BEEN
CONSISTENT WITH WHAT OUR
COMMUNITY PARTNERS HAVE ASKED U
TO DO. YOU CAN SEE THE SHORT
LIST OF THINGS THAT COME INTO
OED THAT ARE HIGHLY CONSISTENT.
AND THE LAST ONE I'LL NOTE, WE
ARE INCENTIVIZING THE
DEVELOPMENT OF EDUCATIONAL AND
CHILD CARE FACILITIES IN THESE
NEW UP ZONED AREA IN THIS
DOWNTOWN. SO THAT'S WAY WE CAN
USE LAND USE POLICY TO HELP
INCREASE THE CAPACITY OF CHILD
CARE, ESPECIALLY DOWNTOWN AND
CLOSE TO JOB CENTERS AND TRANSI
CENTERS.
>> AND WHERE SPACE IS MORE
EXPENSIVE.
>> THAT'S TRUE, IT IS. ANYTHING
YOU WOULD LIKE TO MENTION BEFOR
WE CLOSE OUT?
>> ONE THING I WOULD ADD, TO ME
A LOT OF THIS WORK HAS ASKED FO
COLLABORATION BETWEEN
DEPARTMENTS, AND I THINK THAT'S
WHEN THE CITY SHINES AND IT'S
THE MOST SUCCESSFUL. THE IDEA O
DEPARTMENT OF NEIGHBORHOODS
BENEFITING FROM A PROGRAM ONE
THROUGH THE OFFICE OF ECONOMIC
DEVELOPMENT, WHEN THEY ARE
WORKING TOGETHER TO CREATE AN
ACTIVE NEIGHBORHOOD AND ACTIVE
RETAIL CORRIDOR, I THINK THAT'S
WHEN WE SEE THE BEST RESULTS. I
THAT, WE ARE SUPPORTING SMALL
BUSINESS, SO THE END WINNER IS
THE CITY AND ITS RESIDENTS
PEOPLE WHO VISIT THE CITY
BECAUSE OF WHAT THEY ARE ABLE T
SEE. I THINK WE ARE ON THE RIGH
TRACK AND THERE WAS SO MUCH
COLLABORATIVE EFFORT TO MAKE
THIS A WIN, THAT I JUST REALLY
SEE THAT AS ONE OF THE MOST
SUCCESSFUL ATTEMPTS I'VE SEEN
DURING A LOT OF MY VOLUNTEER
TIME. I'M REALLY IMPRESSED WITH
THE WORK MARKHAM AND HIS TEAM
HAVE DONE.
>> AND THE INTERDEPARTMENTAL
WORK, I WILL NOTE THAT'S
SOMETIMES WHERE THINGS FALL
THROUGH THE CRACKS AS WELL. I
HAVE A FEW COMMENTS BUT I'LL
ALLOW YOU TO ASK A QUESTION
FIRST.
>> THANK YOU. I HAVE TWO AND I'
HAPPY TO TAKE ONE NOW,
HOWEVERN'T TO DO IT. THE FIRST
RELATES TO A QUESTION RELATING
SPECIFICALLY TO THE COMPOSITION
OF THE WORK GROUP. I KNOW FOLKS
AT THE TABLE HAVE HEARD THE LON
TALK ABOUT MY INTEREST IN THE
CREATIVE ECONOMY. AS WE KNOW,
THE CREATIVE ECONOMY HAD THE
HIGHEST PERCENTAGE OF EMPLOYMEN
LOSS OF ANY SECTOR, 55%
ACCORDING TO WASHINGTON STATE'S
EMPLOYMENT SECURITY DATA. BUT W
ALSO KNOW THAT THE CREATIVE
ECONOMY HAS SERVED AS AN ENERGY
TO DRIVE OUR ECONOMY HERE IN
SEATTLE. IN SEATTLE, THE
CREATIVE ECONOMY IS 18% OF OUR
GROSS REGIONAL PRODUCT COMPARED
TO 4% NATIONALLY. THAT REALLY
SHOWS THAT INVESTMENTS IN
CREATIVE ECONOMY HAVE
EXPONENTIAL BENEFITS. THE
INFLUENCE OF A CREATIVE ECONOMY
ON SEATTLE IS MORE THAN FOUR
TIMES HIGHER THAN THE REST OF
THE COUNTRY. MY INTEREST IS
REALLY IN KNOWING A LITTLE BIT
ABOUT HOW THAT PART OF ECONOMY
WAS ENGAGED IN THIS PROCESS. I
DO SEE THAT THE EXECUTIVE
DIRECTOR OF THE CULTURAL SPACE
AGENCY WAS INCLUDED IN THIS. AR
THERE SOME OVERS THAT YOU COULD
POINT TO THAT PARTICIPATED IN
THIS PROCESS?
>> WE ENGAGED A LOT OF FOLKS NO
JUST ON THE WORK GROUPS, THROUG
SURVEYS AND INTERVIEWS AND ONE
ON ONE MEETING. I DON'T HAVE A
LIST READY MADE BUT I'LL AGREE
WITH YOU THAT WE ARE EXCITED
ABOUT THE POTENTIAL OF THE
CREATIVE ECONOMY. ONE, WE ARE I
THE PROCESS OF HIRING A CREATIV
CONTENT MANAGER, SOMEBODY WHOSE
CHANGER IS LOOKING AT THAT. WE
HAVE A NEW ARTS DIRECTOR WHO
JUST STARTED AND WE ARE EXCITED
ABOUT PARTNERING WITH THE OFFIC
OF ATTARS AND CULTURE. THIRD IS
GOING BACK TO THE ACTIVATION
PLAN. THAT'S ONE OF THE SEVEN
GOALS, REALLY INCREASING THE
ARTS CULTURE ENTERTAINMENT AND
SPORTS IN THE DOWNTOWN AREA
WHERE THERE'S DENSITY AND A REA
OPPORTUNITY. THERE'S A LOT OF
WORK WE ARE DOING RIGHT NOW WIT
A NUMBER OF THE ARTS AND CULTUR
LEADERS AS WE THINK ABOUT HOW T
REALLY HELP THEM COME OUT OF TH
PANDEMIC. JUST A TREMENDOUS
OPPORTUNITY.
>> CAN I ADD SOMETHING?
>> SURE.
>> WE TALK IN MY WORK GROUP, AN
I WANT TO CLARIFY THAT FOR
EXAMPLE, A LOT OF SPACE MATCH
MAKING WE ARE DOING IS FOR
CREATIVE ECONOMY BUSINESSES.
I'VE YOU KNOW, WE MOVED OUR
PLACE TOO. SO BUSINESS GETS A
LITTLE BIT OF A BROTHERED BRUSH
BUT ACTUALLY A LOT IS RELATED T
CREATIVE ECONOMY JOBS.
>> THE CAPITOL HILL ECO DISTRIC
WANTS TO USE ART INSTALLATIONS
TO ACTIVATE THE STREETS AND
CREATE SOMETHING THAT ENTICES
THE PUBLIC TO SUPPORT AND VISIT
THESE BUSINESSES. I THINK THEY
ARE THE HEART OF CREATIVE
ECONOMY.
>> AND A COMPONENT OF SEATTLE
RESTORED AS WELL?
>> ABSOLUTELY.
>> THANK YOU.
>> SO I WANTED TO NOTE THAT SOR
OF TAKING OFF THE LAST AND
BUILDING ON THE CONVERSATION AT
THE LAST SMALL BUSINESS ROUND
TABLE AND WHAT I JUST SAID, WHA
WE LEARNED FROM THE DIRECTORS O
BIAs ACROSS THE CITY IS THAT
SOMETIMES SMALL BUSINESSES ARE
HAVING A HARD TIME JUST WORKING
WITH THE CITY DEPARTMENTS, AND
ESPECIALLY WHEN THEY'VE GOT AN
ISSUE THAT SPANS MORE THAN ONE
DEPARTMENT. I WAS JUST AT, FOR
EXAMPLE, THE EAST LAKE COMMUNIT
COUNCIL, AND THE TOPIC OF THE
MAIN CONVERSATION WAS HOW TO
LINK TRANSPORTATION AND TRANSIT
THIS IS NOT JUST A VISIONARY
PLAN OF THINGS YOU WANT TO DO I
THE FUTURE THAT ARE ENDORSED BY
ALL THE PARTICIPANTS. THEY ARE
ALSO THINGS THAT I BELIEVE MEET
OED'S PRIMARY RESPONSIBILITY,
WHICH IS DO NO HARM AND HELP
BUSINESSES DEAL JUST WITH THE
CITY ITSELF. I REALLY APPRECIAT
THAT. ON PAGE 35 OF THE LONG
SECOND REPORT HERE, IT TALKS
ABOUT SERVICE DELIVERY. WE HAD
SPOKEN ABOUT CREATING A ONE-STO
SHOP ON THE WEB SIDE SO ALL YOU
NEED TO DO IS RIGHT THERE. YOU
MENTIONED THE TEAM THAT WILL
HELP NEGOTIATE ACROSS-DEPARTMEN
ALLY. ONE OF THE SERVICE
DELIVERIES YOU MENTION A COUPLE
TIMES IN HERE IS CITY
NAVIGATION. IS THAT WHAT YOU'RE
TALKING ABOUT, AND GIVE US
DETAIL ABOUT THAT.
>> YEAH, THERE'S TWO CORE
COMPONENTS. INSIDE THE CITY
INFRASTRUCTURE, THAT'S SOME OF
WHAT YOU'RE MENTIONING ABOUT,
RELATIONSHIPS AND FRACTURE IN
SYSTEMS TO COMMUNICATE AND
COORDINATE BETWEEN THE
DEPARTMENTS. THE CITY WIDE
ADVOCACY TEAM IS ONE WAY TO DO
THAT IN REALTIME. THERE'S THE
INTERNAL CITY KIND OF
INFRASTRUCTURE AND RELATIONSHIP
BUILDING THAT OED NEEDS TO WORK
ON, THEN THERE'S THE EXTERNAL
FACING KIND OF FRONT DOOR THAT
BUSINESSES USE TO ACCESS THOSE
SERVICES. WE KNOW THAT
BUSINESSES DON'T SPEAK CITY
SPEAK, AND SOMETIMES IT'S JUST
AND ACTUAL LANGUAGE BARRIER OR
JUST A JARGON BARRIER. SO WE
HAVE TO PRESENT A FRONT DOOR
SPEAKING IN A WAY THAT
BUSINESSES WILL UNDERSTAND AND
IT WILL BE CULTURALLY
APPROPRIATE TO ACCESS THOSE
SERVICES. THOSE ARE THE TWO
THINGS WE ARE WORKING ON,
BUILDING THAT CITY
INFRASTRUCTURE TO SOLVE THOSE
PROBLEMS, AND THE EXTERNAL PHAS
AND HOW IS THIS ACCESSIBLE TO
THE CITY?
>> AND THERE'S THE ELEMENT OF
BUILDING UP NEIGHBORHOOD
BUSINESS DISTRICT CAPACITY AND
BRINGING IN -- I'M OFTEN ASKED
IF I WORK FOR THE CITY. NO, I
HELP PEOPLE WORK WITH THE CITY.
THAT'S WHERE YOU SEE THERING ON
OF THIS PLAN, BUILDING THAT
EXPERTISE WITHIN THE OFFICE OF
ECONOMIC DEVELOPMENT AS WELL AS
THE CAPACITY WITHIN NEIGHBORHOO
DISTRICTS, WHETHER THEY ARE A B
OR NOT, TO BE ABLE TO SELF-HELP
AS WELL, TO PROVIDE THAT BRIDGE
BETWEEN THE CITY. SO THAT'S THE
LAYERING ON THAT WE SEE IN THIS
PLAN.
>> RIGHT. WE CAN'T DEPEND ON TH
WORK OF DIAs TO DO THAT WORK FO
US. YOU MENTIONED MATCH MAKING
AND HELPING BUSINESSES PROVIDE
SPACES. PROVIDE BIA ESSENTIAL
SERVICES AND WE NEED TO BE SURE
WE ARE DOING EVERYTHING WE CAN
TO PROVIDE THOSE BASICS
OURSELVES. IT'S SOMETHING I
REALIZED, TAKING A BREAK FROM
CITY POLICY, IT FOCUSES ONE'S
ATTENTION ON THE NEEDS. I REALL
APPRECIATE THAT YOU'RE GOING
FORWARD. I PROMISED THE MENTION
THAT YOU'RE REBUILDING THIS
TEAM, AND SOME OF THE THINGS
THEY MENTIONED WERE PERMITTING
AND GARBAGE PICKUP, ESPECIALY
IN NEIGHBORHOODS WITH A HIGH
CONCENTRATION OF FOOD AND DRINK
ESTABLISHMENTS AND NOT A LOT OF
-- WELL, EVENING GOES IN THE
ALLEY. MORE ON THAT LATER.
THAT'S AN EXAMPLE OF WHAT WE'RE
TALKING ABOUT. GO AHEAD, WHAT
WERE YOU DOING TO SAY?
>> THOSE TWO PLUS CONSTRUCTION
MITIGATION, WHEN A PROJECT
HAPPENING IN FRONT OF THE STORE
FRONTS, THAT'S AN ISSUE.
>> ON CONSTRUCTION, I HAVE HAD
SO MANY PEOPLE ASK ME HOW IT WA
POSSIBLE TO REMAIN IN BUSINESS
OVER THE LAST YEAR WITH WHAT'S
HAPPENING WITH MADISON, AND IT'
CONCENTRATED ALL THE BUSINESSES
TO BE SURROUNDED. JUST BEING
AWARE OF THAT AND FIGURING OUT
HOW TO NAVIGATE THAT AND KNOW
WHO THEY CAN REACH OUT TO TO GE
KIND NOTES OR AN ANSWER.
>> YES. THAT'S ANOTHER BIG
THING, HELPING BUSINESSES DON'T
GO DURING MAJOR ROAD
CONSTRUCTION PROJECTS. IS THAT
NEW HAND?
>> MY SECOND QUESTION. SO, MY
UNDERSTANDING IS THAT THE INTEN
OF THIS WORK WAS DONE TO GUIDE
OED'S JUMP START FUNDING. 15% O
THE JUMP START FUNDING COUNCIL
DESIGNATED FOR OED'S USE. CAN
YOU SHARE APPROXIMATELY WHAT
PERCENTAGE OF OED'S FUNDING
COMES FROM JUMP START, AND GIVE
THAT THIS, AS I UNDERSTAND IT,
IS NOT NECESSARILY A FRAME WORK
FOR OED AS A WHOLE BUT FOR THE
JUMP START FUNDING INVESTMENTS.
DO YOU HAVE A SIMILAR FRAME WOR
FOR WORK THAT'S NOT FUNDED BY
JUMP START?
>> THAT IS THE FRAME WORK THEY
ARE BETTING ON FOR THE ENTIRE
DEPARTMENT.
>> WASN'T THE REQUEST
SPECIFICALLY ABOUT --
>> YES, BUT WHAT'S OUTLINED FOR
THESE INVESTMENTS IS WHAT THE
FUTURE OF SEATTLE'S ECONOMY
NEEDS. SO THIS IS GENERALLY THE
FRAME WORK THAT OED IS USING FO
ALL OF OUR WORK. JUMP START, IN
THE CURRENT BUDGET, IT'S ABOUT
HALF OF OUR BUDGET.
>> ALL RIGHT. IN ASKING FOR A
FRAME WORK FOR THE JUMP START
INVESTMENTS, YOU'RE USING THAT
FRAME WORK?
>> WE, WE WANT TO THINK ABOUT
HOW TO REVITALIZE OUR ECONOMY A
THE CHARGE FOR OED, SO IT MADE
SENSE NOT TO HAVE SEPARATE FRAM
WORKS FOR ONE AMOUNT OF FUNDING
VERSUS THE OTHER FUNDING. AND W
HAVE TALKED TO OED, GOING
THROUGH A LOT OF TRANSITION
STAFF WISE AND CULTURAL. MADE
THIS POSSIBLE TO DEVELOP THIS
FOR THE DEPARTMENT AND PAYROLL
TAX IS A POSITION OF THIS
FUNDING.
>> I THINK I UNDERSTAND. WHAT'S
GIVING ME PAUSE IS, YOU KNOW,
THERE ARE CERTAIN ELIGIBLE
EXPENSES FOR JUMP START, SO ARE
YOU SAYING THAT EVERYTHING THAT
OED DOES IS CONSIDERED -- I
DON'T HAVE A LIST IN FRONT OF
ME. IT'S CONSIDERED AN ELIGIBLE
SUCCESS?
>> NO, THAT'S PART OF THE WORK
WE DO INTERNALLY. WE PAY
ATTENTION TO MONEY AND WHETHER
IT'S RECOVERY FUNDS OR PAYROLL
STATE TAX FUNDS OR PARTNER
DOLLARS. THAT'S SOME OF HOW WE
CHOOSE TO DO OUR WORK AND
GETTING CREATIVE WITH THE COLOR
OF MONEY . WE ARE DEVISING
GREATER SOLUTIONS TO HAVE A
BROTHERED IMPACT.
>> THANK YOU. THAT'S IN THE
INVESTMENT ALIGNMENT?
>> YEAH.
>> THANK YOU.
>> ONE FINAL THING, I SAID IT A
THE FRONT. I'M EXCITED ABOUT TH
NEXT PRESENTATION. WE HAVE A
FABULOUS TEAM THAT WILL COME UP
TO THE TABLE FOR THIS
PRESENTATION. I HOPE YOU PAY
ATTENTION, BECAUSE COUNCILMEMBE
HERBOLD, I THINK THIS WILL
ADDRESS SOME OF YOUR QUESTIONS
ABOUT THIS. WITH OED REBUILDING
THIS IS A GREAT TEAM. THEY HAVE
STEPPED UP AND BEEN CREATIVE
WITH SMALL BUSINESSES ACROSS TH
CITY. IT'S POWERFUL AND IS GOIN
TO DRIVE THE FUTURE OF SEATTLE'
ECONOMY, SO VERY EXCITED ABOUT
IT.
>> THANK YOU SO MUCH FOR THIS
INFORMATION. THE REPORT IS ON
YOUR WEBSITE SO PEOPLE CAN
ACCESS THAT THERE. THANK YOU FO
COMING TODAY AND WELCOME BACK.
>> THANK YOU.
>> ALL RIGHT, THE NEXT ITEM?
>> NUMBER SIX, OED COMMUNITY
WEALTH BUILDING PROGRAM
PRESENTATION FOR BRIEFING AND
DISCUSSION.
>> AND THIS NEXT PRESENTATION I
A BRIDGE FROM THE LAST
PRESENTATION, WHICH IS A LITTLE
BIT FORWARD THINKING. THIS ONE
ZEROS IN ON ONE OF THE FIVE
PILLARS OF THE FUTURE OF SEATTL
ECONOMY, WHICH IS BUILDING
COMMUNITY WEALTH. WOULD THE
PRESENTERS PLEASE INTRODUCE
YOURSELVES?
>> THANK YOU. GOOD MORNING. I'M
HEIDI HALL AND I MANAGE THE
COMMUNITY WEALTH BUILDING TEAM.
DO WE INTRODUCE NOW ALTOGETHER?
>> YES.
>> I'M CHERA AMLAG, THE
COMMERCIAL REAL ESTATE ADVISOR.
>> I'M AGRAJ DANGAL, THE CAPITA
ACCESS AND FINANCIAL ADVISOR.
>> I'M MICHAYA POLLARD, I OWN
MLK COMMISSARY KITCHEN AND SOME
OTHER SMALL BUSINESSES IN THE
AREA.
>> I'M SONIA-LYNN ABENOJAR, A
BUSINESS OWNER.
>> I'M SERGIO MAX
LEGON-TALAMONI, AN ARCHITECT BY
TRADE, AND I RUN A SMALL
BUSINESS WITH MY PARTNER HERE.
>> I'M ROBIN DUCKETT, COMMUNITY
DEVELOPMENT SPECIALIST.
>> WELCOME.
>> THANK YOU, MEMBERS OF THE
COMMITTEE FOR INVITING US HERE
TODAY TO TALK ABOUT OUR
COMMUNITY HEALTH BUILDING
STRATEGIES. THIS REFLECTS
PARTNERSHIP WITH COMMUNITY STAK
HOLDERS AND FALLS UNDER THE
BUILDING COMMUNITY WEALTH
PROGRAM. SOME OF THE CHALLENGES
WE ARE ADDRESSING IS RISING
COMMERCIAL RENTS, DISPLACING
MANY COMMUNITY BUSINESSES. IN
ADDITION TO THAT LOSS OF INCOME
IT COULD MEAN THE LOSS OF
TREASURED NEIGHBORHOOD
BUSINESSES, STORIES, SERVICES
AND GOODS THAT SERVE THAT
COMMUNITY. IT HAS A LOT OF
IMPACT ON OUR NEIGHBORHOODS. AN
PREEXISTING ACTIVITIES HAVE BEE
COMPOUNDED BY THE ECONOMIC
CRISIS BROUGHT ON BY THE
PANDEMIC. MANY BUSINESSES HAVE
YET TO RECOVER AND THIS RECOVER
HAS BEEN UNEVEN. AND THE RACIAL
WEALTH GAPS TRANSLATE TO
BUSINESS OWNERSHIP. BARRIERS AN
ACCESS TO CAPITAL MAKE IT HARDE
TO START AND SCALE BUSINESSES B
PEOPLE OF COLOR. NATIONAL DATA
HAS SHOWN THAT WHITE-OWNED
ENTREPRENEURS START THEIR
BUSINESSES WITH THREE TIMES AS
MUCH CAPITAL AS BROWN-OWNED
BUSINESSES. THIS APPROACH TO
ECONOMIC DEVELOPMENT KEEPS
WEALTH IN OUR COMMENTS WITH THE
EMPHASIS ON SHARED WEALTH AND
OWNERSHIP. WE ARE WORKING ON TH
GENERATIONAL WEALTH INITIATIVE
TO EXPLORE COMMUNITY WEALTH
BUILDING FRAME WORK FOR THE
CITY. WHERE HE SEBIZON AS AN
IMPORTANT PATH TO GENERATIONAL
WEALTH, SO WE ARE DOING THIS
THROUGH SEVERAL KEY STRATEGIES.
COMMERCIAL AFFORDABILITY AND
OWNERSHIP TO HELP BUSINESSES
STAY IN THEIR NEIGHBORHOODS OR
COME BACK. ACCESS TO CAPITAL TO
SUPPORT OWNERSHIP AND GROWTH.
AND CULTURALLY RESPONSIVE
ASSISTANCE, BUILDING BETTER
SUPPORT SYSTEMS THAT ADDRESS TH
BARRIERS AND RACIAL
DISCRIMINATION. ALSO COMMUNITY
ENGAGEMENT AND NEIGHBORHOOD
PARTNERSHIPS. WE WORK CLOSESTLY
WITH OUR NEIGHBORHOOD PARTNERS
TO LEARN PROGRAMS AND BUILD
TOGETHER. THE WORK THAT WE ARE
TALKING ABOUT TODAY LEVERAGES
OTHER INVESTMENTS THROUGH OFFIC
OF ECONOMIC DEVELOPMENT
INCLUDING THE ONLY IN SEATTLE
PROGRAMS AND SMALL BUSINESS
SUPPORT AND NAVIGATION TEAM THA
WAS JUST DISCUSSED. NEXT SLIDE.
THESE REFLECT ONGOING ENGAGEMEN
WITH FORMAL AND INFORMAL TABLE
. MANY OF THIS HAS BEEN
CONSISTENT FROM WHAT WE HEAR
TODAY, NAVIGATING POLICIES AND
ACCESS TO RESOURCES AND
UNDERSTANDING TO WORK WITH THE
CITY. WE ARE REALLY FOCUSING ON
BUILDING OUT MULTIPLE STRATEGIE
TO SUPPORT DIFFERENT BUSINESSES
AT DIFFERENT POINTS IN THEIR
JOURNEY. TOGETHER THEY WILL
PROVIDE COMMERCIAL AFFORDABILIT
TO SUPPORT A RANGE OF COMMUNITY
GOALS. ALL OF THESE PROGRAMS
WITH TECHNICAL ASSISTANCE AND
OWNERS ARE INTEGRATING THE
GROWING WORK TO ACCESS
AFFORDABLE CAPITAL. THE NEW
BUSINESS COMMUNITY OWNERSHIP
FUND IS TARGETING OWNERSHIP OF
COMMERCIAL SPACE. NEXT SLIDE.
I'M GOING TO PASS IT ONTO CHERA
AMLAG TO TALK ABOUT SEATTLE
RESTORED.
>> SEATTLE RESTORED BEGAN AS A
PILOT PROGRAM DURING THE WINTER
OF 2022 TO SUPPORT SMALL
BUSINESS OWNERS AND CREATIVE
ENTREPRENEURS IN THE POPUP TO
LONG-TERM LEASE PIPELINE. THIS
STRATEGY AIMS TO MINIMIZE THE U
FRONT INVESTMENT AND RISK
BUSINESS OWNERS TAKE TO TEST
THEIR PRODUCT IN THE MARKET. IN
THE PAST 16 MONTHS, SINCE OUR
FIRST ACTIVATION IN MARCH 2022,
WE HAVE WORKED WITH A TOTAL OF
42 PROPERTY OWNERS AND HAVE
MATCHED 84 PARTICIPANTS IN 74
ACTIVATIONS TO DATE. WITH OVER
TWO-THIRDS OF THESE PARTICIPANT
IDENTIFIED AS DIVERSE, EIGHT
BUSINESSES HAVE SIGNED LONG-TER
LEASES OR CURRENTLY NEGOTIATING
THEIR LONG-TERM LEASE. NEXT
SLIDE. ONE EXAMPLE IS AVERY
BARNES, OWNER OF A STORE IN
PIONEER SQUARE. SHE SHARES THE
IMPORTANCE OF PROPERTY ACCESS T
BUSINESS OWNERS AND LEASE
SUBSIDIES TO CANDIDATE SUCCEED
AS A LOCAL SMALL BUSINESS IN
DOWNTOWN SEATTLE. WE HAVE
LEARNED A LOT THROUGH THIS
PILOT, LIKE NOT ALL BUSINESSES
ARE READY FOR BRICK AND MORTAR.
THE CHALLENGES DIRECTLY IMPACTE
THE ABILITY TO SECURE SHORT-TER
LEASES, AND BUSINESSES WANT
DEEPER COACH ABOUTING AND
SUPPORT. AS THE PROGRAM EVOLVES
WE ARE FOCUSING ON LONG-TERM
LEASES, MORE CREATIVE LEASES,
AND EXPLORING HOW WE CAN SCALE
UP THE BUSINESS TO PROPERTY
MATCH MAKING PROCESS, IMPLEMENT
A STRONGER COORDINATED STRATEGY
BETWEEN THE OED PROGRAMS AND
SEATTLE RESTORATIVE BUSINESSES
AND MEET THEM AT THE BUSINESS
PHASE THEY ARE IN PRIOR TO
MATCHING THEM TO A PROPERTY.
NEXT SLIDE. I'LL GO AHEAD AND
TALK ABOUT THE BUSINESS
COMMUNITY OWNERSHIP FUND. THIS
IS A NEW INVESTMENT MODEL FOR
OWNERSHIP OF COMMERCIAL SPACE W
ARE DEVELOPING HERE IN SEATTLE,
AIMING TO ADDRESS COMMERCIAL
DISPLACEMENT, EMPOWERRINGS SMAL
BUSINESSES WITH LONG-TERM
AFFORDABILITY AND OWNERSHIP OF
THEIR OWN COMMERCIAL SPACES TO
HELP THEM STAY IN SEATTLE, STAY
ROOTED IN SEATTLE NEIGHBORHOODS
OR TO COME BACK TO THEIR
NEIGHBORHOOD OF CHOICE. THIS
WILL MATCH CITY FUNDS DOLLAR TO
DOLLAR THROUGH FINANCING AND
GRANTS. NEXT SLIDE. HOW THE FUN
WORKS, THE BUSINESS OWNERS
PARTNER WITH THE BUSINESS
COMMUNITY OWNERSHIP FUND AND
FORM A REAL ESTATE PARTNERSHIP
OR LLC. IT COULD BE ONE BUSINES
OR MULTIPLE BUSINESSES WITH
MULTIPLE STORE FRONTS. THE FUND
PURCHASES GROUND FLOOR SPACE IN
A MIXED USE BUILDING IN ONE OF
OUR NEIGHBORHOODS, LEASING THE
SPACE TO THE BUSINESS AT A BELO
MARKET RATE. IN THE FINANCING
WORKS, BUSINESSES ARE PAYING
BELOW MARKET RENT AND THE LEAST
PAYMENTS ARE FLAT OVER TIME. IF
BUSINESS OWNERS' COSTS STAY
CONSISTENT WHILE RENTS AROUND
THEM MAY BE INCREASING. THIS
MODEL ALLOWS FOR GREATER
STABILITY AND CONTROL OF THEIR
COMMERCIAL SPACE, SECURITY FROM
BEING DISPLACED, AND LONG-TERM
AFFORDABILITY FOR COMMUNITY. WE
HAVE A RESTRICTIVE COVENANT ON
THE PROPERTY TO ENSURE LONG-TER
AFFORDABILITY FOR THAT
COMMUNITY, SO WE ARE NOT SOLVIN
THIS PROBLEM OVER AND OVER. THE
WEALTH BUILDING STRATEGY IS
THROUGH THE SMALL BUSINESS,
ALLOWING THEM TO INCREASE IN
THEIR BUSINESS TO BUILD
GENERATIONAL WEALTH. BUSINESSES
ALSO BENEFIT FROM SUPPORT FROM
OTHER SMALL BUSINESS OWNERS AND
ACCESS TO TOOLS AND RESOURCES
INCLUDING FINANCING TO PROMOTE
THEIR FUTURE GROWTH . WE
PURCHASED A GROUND FLOOR
COMMERCIAL SPACE, ALLOWING FOR
STUDY YES, THE BUSINESS PARTNER
AND OWNER AND PROJECT, AND WE
ARE WORKING TO BUILD THE
PIPELINE OF POTENTIAL BUSINESS
OWNED PROJECTS. WE ARE ALSO
TALKING ABOUT COLLEAGUES AT
AFFORDABLE HOUSING TO TALK ABOU
NEW PROJECTS COMING ONLINE IN
THE NEXT YEAR TO TWO YEARS AND
WHERE WE CAN PARTNER EARLY TO
HAVE EFFICIENCIES IN DESIGN AND
COST. WE ARE EXCITED ABOUT THIS
OPPORTUNITY AND WHAT WE CAN
OFFER TO BUSINESSES IN SEATTLE
AND APPRECIATE THE ONGOING
PARTNERSHIP WITH ALL THE MANY
PARTNERS THAT CAME TOGETHER TO
MAKE THIS POSSIBLE.
>>> OUR TENANT IMPROVEMENT FUND
IS ANOTHER COMMERCIAL AFFORDABL
STRATEGY TO MAKE COSTS MORE
AFFORDABLE FOR SMALL BUSINESSES
AT RISK OF DISPLACEMENT.
WE SCALED UP IN 2022 AND
RECEIVED 507 APPLICATIONS
REPRESENTING $37 MILLION IN
TOTAL REQUESTS. NEXT SLIDE.
EVERY APPLICATION WAS REVIEWED
AND WE ARE FUNDING A TOTAL OF 3
TENANT IMPROVEMENT PROJECTS FOR
$3.4 MILLION. OUR PROJECTS
REPRESENT OVER 90% BUSINESSES
WITH OVER TEN-PLUS YEARS IN
BUSINESS . OUR COMMERCIAL SPACE
PROGRAM WAS DESIGNED IN TANDEM
WITH THIS FUND KNOWING THAT THE
SUPPORTS WERE NEEDED ANT
CONTINUE TO GROW. THIS WILL
INCLUDE LANDLORD ADVOCACY AND
LEASE REVIEW, SPACE PLANNING AN
DESIGN, CATEGORY AND MARKETING,
TO NAME A FEW. ALMOST ALL OUR
PROJECTS ARE USING THESE
SUPPORTS TO COMPLETE THEIR
PROJECTS, WITH SPACE PLANNING
AND DESIGN BEING THE MOST
REQUESTED SERVICE. ADDITIONALLY
OUR PARTNERSHIP WITH THE SDCI
EXPEDITED PERMITTING SERVICES
HAS BEEN VERY VALUABLE IN
HELPING PROJECTS RUN SMOOTHLY
THROUGH THE PROCESS. A COUPLE O
EXAMPLES IN HOW THE INTEGRATION
AND SUPPORTS ARE VALUABLE AND
NECESSARY IS ONE AWARDEE WHO
UTILIZED OUR BUSINESS
DEVELOPMENT AND LEASE ADVOCACY
SERVICES WERE ABLE TO NEGOTIATE
AN ENTIRE YEAR OF FREE RENT
DURING THEIR LEASE NEGOTIATION.
ANOTHER EXAMPLE OF A TI AWARDEE
IN SOUTH SEATTLE WHOSE LEASE WA
NOT GOING TO BE RENEWED UNTIL
THEY ACQUIRED THE APPROPRIATE
PERMIT. THROUGH THEPORT OF OUR
SPACE PLANNING AND CONSULTANTS,
THEY WERE ABLE TO RECEIVE
SUPPORT FOR THEIR CHANGE OF USE
AND SHAVED APPARENTLY 105 DAYS
OFF THE PROCESS, NOW ALLOWING
THEM TO STAY IN THEIR BUSINESS
AND GROW. NEXT SLIDE.
>> BEFORE YOU MOVE ON, THIS IS
AN IMPORTANT COMPONENT, AND WHE
YOU SEE TECHNICAL ASSISTANCE,
SOME PEOPLE MIGHT GLOSS OVER,
NOT KNOWING WHAT THAT IS. THIS
ABLES SOMEONE WITH AN IDEA TO
TRANSLATE THAT INTO A BUSINESS.
I JUST REMEMBER IF IT WEREN'T
FOR THE FACT THAT MY HUSBAND WA
PREVIOUSLY AN ATTORNEY,
NEGOTIATING A LEASE WOULD HAVE
BEEN REALLY DIFFICULT .
>> ABSOLUTELY. WE ARE EXCITED T
HAVE OWNERS AND AWARDEES TO
SHARE MORE ABOUT THAT AS WELL.
SO WHAT HAVE WE LEARNED? AGAIN,
SIMILAR TO SEATTLE RESTORED. WE
HAVE LEARNED A LOT AND WE HAVE
TAKEN A LOT OF FEEDBACK AND
CONTINUING TO EVOLVE AND GROW
THESE PROGRAMS. SO WE HAVE
REALIZED THAT BUSINESSES ARE AL
AT VERY DIFFERENT PLACES. SO
DOING A ROUND OF APPLICATIONS
ALL AT ONE TIME AND USHERING IN
THE 37 WHILE THEY ARE AT
DIFFERENT PHASES IN THEIR
PROJECTS, IT'S BEEN CHALLENGING
SO ALSO IN ADDITION TO THAT, WE
CONTINUE TO WORK THROUGH THE
COMPLEXITIES OF USING PUBLIC
FUNDS. COUNCILMEMBER HERBOLD,
I'M VERY PROUD OF OUR TEAM IN
TERMS OF BEING ABLE TO BE
CREATIVE AND NAVIGATE AROUND
THAT. WE ARE PROUD TO SAY THAT
WE HAVE HIRED ON A PREVAILING
WAGE CONSULTANT THAT'S AN EXPER
IN THIS FIELD. YOU KNOW,
TYPICALLY UNDERSTANDS HOW THE
LARGER PUBLIC WORKS PROJECT
WORKS BUT WE HAVE CREATED A PLA
AND SUPPORT SO THAT WE CAN
CREATE AND HAVE BUSINESSES STAY
IN COMPLIANCE THROUGH THE
CONSULTANT SUPPORT. WE ARE
REALLY EXCITED FOR THIS, AND TO
BE ABLE TO UTILIZE THESE FUNDS
WHILE ALSO STAYING COMPLIANT. A
WE EVOLVE THE PROGRAM, WE ARE
THINKING ABOUT THE DIFFERENT
LIFE CYCLE OF A TENANT
IMPROVEMENT PROJECT, AND GETTIN
SUPPORT BASED OFF THE PHASE THE
BUSINESS IS IN.
>> NO MATTER WHAT STAGE A
BUSINESS IS AT, THERE'S ALWAYS
NEED FOR FUNDING. WHETHER THEY
ARE STARTING OR SUSTAINING OR
GROWING, ACCESS TO CAPITAL HAS
BEEN HISTORICALLY CHALLENGING
FOR CERTAIN COMMUNITIES. OUR
PROGRAM AROUND CAPITAL ACCESS
PROGRAM, REVOLVES AROUND THREE
MAJOR STRATEGIES. THE FIRST IS
THAT THE CAPITAL IS READY, WHER
WE TRY AND LOWER THE BARRIERS O
INFORMATION WHICH HAS BARRED
COMMUNITIES FROM ACCESSING
FINANCE WITH THEIR TRADITIONAL
FINANCING SOURCES, NOT KNOWING
WHAT KIND OF FINANCIAL PRODUCT
IS RIGHT FOR THEM AND BEING
FINANCE READY AND UNDERSTANDING
THE EFFECTS. THE SECOND IS
SUBSIDIZING THE FINANCIAL
PRODUCT AND BUSINESS OWNERS,
ALTHOUGH ACCESS IS AN ISSUE.
THEN AFFORDABLE ACCESS IS A
GREATER ISSUE, AND HOW CAN WE B
SURE THERE'S AN EQUITABLE WAY T
REDUCE THAT. AND THIRD IS A
CREDIT SCORE, MINIMUM COLLATERA
REQUIREMENT AND OTHER BARRIERS
KEEPING SOME OUTSIDE THE
TRADITIONAL FINANCING STRUCTURE
HOW HAVE WE APPROACHED IT SO
FAR? NEXT SLIDE PLEASE.
>> BEFORE WE CONTINUE, YOU HAD
QUESTION?
>> I DID. I CAN HOLD IT UNTIL
THE END. IT WAS ABOUT THE TENAN
IMPROVEMENT FUND.
>> LET'S HOLD THAT . GO ON.
>> SO PROGRAM LOWERED THE COST
OF THE FUNDING BY PAYING DOWN
25% OF THE LOAN PRINCIPAL SO
THAT WAS A WAY FOR US TO MAKE
CAPITAL MORE AFFORDABLE FOR
BUSINESSES THAT WOULD NOT HAVE
HAD THAT ACCESS TO AFFORDABLE
CAPITAL. A PART OF THAT PROGRAM
295 BUSINESS OWNERS RECEIVED AN
AWARD TOTALING UP TO $6.9
MILLION AND THAT HELPED US
LEVERAGE $27.8 MILLION IN TOTAL
LEAN FUNDS IN THE CITY OF
SEATTLE, OUT OF WHICH 56% WERE
BIPOC-OWNED BUSINESSES . THAT
BRINGS US TO THE NEXT PROGRAM
THAT WE'LL BE TALKING ABOUT IN
THE NEXT SLIDE. WE HAVE LEARNED
ABOUT THE COMMUNICATION AND GAP
BECAUSE OED IN ITSELF DOES NOT
RUN ALL THE PROGRAMS, AND WE
PARTNER WITH LOCAL INSTITUTIONS
COMMUNITY-BASED ORGANIZATIONS.
AND BUSINESSES NEED TO
UNDERSTAND THE FINANCIAL
PRODUCT. THE BUSINESS MIGHT NOT
BE AT THE RIGHT STAGE FOR THE
LOAN OR OTHER CAPITAL PROGRAMS.
IT'S A BIG COMPLEMENT WITH THAT
AND EVOLVING THE PROGRAM WOULD
INVOLVE EXPANDING THE LOAN
READINESS SUPPORT THAT ENABLES
BUSINESSES TO LEARN MORE ABOUT
THE FINANCIAL PRODUCT AND HOW T
MAKE CAPITAL MORE AFFORDABLE. T
CAPITAL PAYDOWN STRATEGIES, AND
SUPPORTING THE MORE CULTURALLY
RELEVANT. WE TALKED ABOUT THE
JARGONS THAT FINANCIAL
INSTITUTIONS USE, AND HOW DO WE
BE SURE THE BUSINESSES AND
LENDERS SPEAK THE LANGUAGE? AND
EXPLORE NEW STRATEGIES THAT HAV
NOT EXISTED AND WORK WITH LOCAL
FINANCIAL INSTITUTIONS TO
MITIGATE THOSE BARRIERS AND
UNDERSTAND WHAT THE REAL NEED
IS. WE HAVE THREE BUSINESS
OWNERS HERE. I'LL START WITH
MICHAYA POLLARD, A PROUD OWNER
OF MLK COMMISSARY. WE HAVE
SONIA-LYNN ABENOJAR AND SERGIO
MAX LEGON-TALAMONI, THE FOUNDER
OF LA UNION STUDIO, A FULL
SERVICE ARCHITECTURAL AND
INTERIOR DESIGN STUDIO BASED IN
SEATTLE, WASHINGTON.
>> I'M MICHAYA POLLARD. OWN MLK
COMMISSARY KITCHEN, WHICH IS
MEANT HOUSE 24 TO 28 SMALL
BUSINESS AREN'T CONCEPTS IN THE
SOUTH END OF SEATTLE AND
INCUBATE THOSE BUSINESSES AND
PROVIDE OPTIONS IN THE INNER
CITY THAT MIMIC A MALL AND
MAINTAIN CULTURE AND CUISINE IN
SEATTLE. WHEN WE TALK ABOUT
CHANGE WITH SIGNIFICANTLY LESS
ACCESS AND TEARING DOWN
BARRIERS, WE ARE TALKING ABOUT
HIGH LEVEL SUPPORT. THIS IS
GROSSLY UNDERVALUED. MY
EXPERTISE IN FOOD TRUCKING AND
RESTAURANT OPERATIONS AND
MANAGING PERSONNEL AND THE LIKE
THAT'S WHERE IT ENDS. GRANT
WRITING AND PERMITTING FOR
EXPANSION AND CONTRACTORS WERE
ALL BRAND NEW TO ME. I'M A BABY
IN THE ROOM WHERE THOSE
CONVERSATIONS HAPPEN. THE WRAP
AROUND SERVICES WERE JUST AS
VALUABLE TO ME AS THE FUNDING S
I'M NOT WASTING MONEY TRYING TO
FIGURE OUT HOW TO GROW. MANY
SMALL BUSINESS OWNERS DON'T EVE
KNOW WHAT'S KEEPING THEM SMALLE
THAN THEY COULD BE. THE TI FUND
HAS BEEN A MAJOR CATALYST FOR
GROWTH, AND ALLOWS ME TO SUPPOR
OTHER SMALL BUSINESSES THROUGH
PEER MENTORSHIP. THANK YOU ALL
TO EVERYONE INVOLVED FOR WHAT
THIS HAS DONE FOR CHANGING MY
COMMUNITY. GROWTH BECOMES LESS
INTIMIDATING BECAUSE OF PROGRAM
LIKE THIS. THANK YOU.
>> THANK YOU.
>> THANK YOU, COUNCILMEMBERS FO
THE OPPORTUNITY TO SPEAK HERE
TODAY IN SUPPORT OF THESE
PROGRAMS. MY NAME IS SERGIO MAX
LEGON-TALAMONI, AND MY PARTNER
SONIA-LYNN ABENOJAR AND I RUN A
SEATTLE-BASED BOUTIQUE,
ARCHITECTURAL DESIGN AND
INTERIOR DESIGN PRACTICE. WE AR
HERE TO SPEAK ON THE PROGRAMS
MENTIONED TODAY. BOCHES CAPITAL
ACCESS PROGRAM AND BCO FUND, WE
HAVE BEEN ABLE TO PURCHASE AND
OWN OUR FIRST COMMERCIAL SPACE
IN THE MT. BAKER NEIGHBORHOOD,
THAT WILL ALLOW US TO GROW. WE
HAVE BEEN RUN TO GO BUSINESS OU
OF ORE HOME FOR THE LAST FIVE
YEARS, AND WE FELT LIKE IT WAS
GREAT TIME TO SECURE COMMERCIAL
LOCATION TO PROVIDE A PHYSICAL
BASE TO COLLABORATE WITH OUR
TEAM. WE ARE BOTH FROM SOUTH
SEATTLE AND IT'S BEEN HUMBLING
TO REMAIN IN OUR NEIGHBORHOOD
AND HAVE A HOME TO RUN OUR
STUDIO. THROUGH THE BCO FUND,
WE'LL HAVE THE PEACE OF MIND
BECAUSE OF THE STABILITY OF
AFFORDABLE RENT, AND WE CAN
REINVEST THE INCOME BACK INTO
THE BUSINESS, GROW WEALTH AND
PROVIDE OPPORTUNITIES FOR
COMMUNITY BENEFITS.
>> THANK YOU. FOR THOSE WHO ARE
NOT FAMILIAR WITH OUR WORK, LA
UNION STUDIO SPECIALIZES IN
COMMERCIAL AND CULTURAL SPACES
THROUGHOUT THE CITY. WE FOUNDED
OUR STUDIO BASED ON THE VALUES
OF ADVOCACY AND SUPPORT FOR
CELEBRATING THE SMALL BUSINESS
COMMUNITY IN SEATTLE. YOU MAY
HAVE HEARD OR VISITED SOME OF
THE SPACES WE HAVE SUPPORTED AN
DESIGNED LIKE HOOD FAMOUS CAFE
AND BAR, RAISE DONUTS, AND MANY
MORE ACROSS THE CITY. TWO OF TH
MOST RECENT PROJECTS JUST
OPENED, JAY BOGGS AND BAJA
BISTRO. THESE CLIENTS OF OURS
HAVE ALSO BENEFITED FROM THE
TENANT IMPROVEMENT AND CAP FUND
PROGRAMS. THIS GOES TO SHOW THE
IMPACT OF HOW THESE PROGRAMS CA
MAKE A DIFFERENCE FOR SMALL
BUSINESSES LIKE OURS, AND OUR
CLIENTS AND MANY OVERS ACROSS
THE CITY. WITHOUT THE SUPPORT O
OED AND OUR PARTNERS, LA UNION
STUDIO WOULD NOT BE HERE, WHERE
WE ARE TODAY. WE ARE JUST ONE O
A HANDFUL OF SMALL BUSINESSES
BIPOC WOMEN OWNED AND BECAUSE O
THESE OPPORTUNITIES, WE HAVE
SOLIDIFIED OUR PRESENCE IN SOUT
SEATTLE AND WILL HAVE BEEN ABLE
TO CONTINUE TO SERVE MORE
THROUGH TIME.
>> WE BELIEVE IN THE WORK THEY
ARE DOING FOR THE SMALL
BUSINESSES IN SEATTLE, AS WE
HAVE BENEFITED DIRECTLY FROM TH
EFFORTS. THANK YOU SO MUCH FOR
YOUR TIME AND HOPE THAT YOU CAN
CONTINUE TO SUPPORT THESE
PROGRAMS SO OTHER SMALL
BUSINESSES CAN ACHIEVE THEIR OW
SUCCESS STORIES.
>> THANK YOU.
>> THAT'S INSPIRING.
>> THAT'S IT. ANY QUESTIONS, WE
ARE HAPPY TO ANSWER THEM.
>> THANK YOU SO MUCH FOR YOUR
STORIES AND FOR THE TIME YOU
TOOK TO COME HERE AND EXPLAIN T
US, TO REALLY BRING IT DOWN FOR
US AND LET US UNDERSTAND HOW
WHAT OED IS DOING IS HELPING
DIRECTLY THE SMALL BUSINESSES O
OUR QUESTION. COUNCILMEMBER
HERBOLD HAD A QUESTION.
>> THANK YOU SO MUCH. JUST HAVE
A LONG-TIME INTEREST IN THE
TENANT IMPROVEMENT FUND. THERE'
BEEN A VARIETY OF DIFFERENT
ITERATIONS OF THIS FUND OVER TH
LAST EIGHT YEARS THAT I'VE BEEN
TRACKING IT. EVENT. THERE THERE
WAS A SPECIFIC FUND WITH A
SEATTLE ADVISORY BOARD THAT OED
WAS MANAGING. IT WAS WITH SOME
DOLLARS THAT I THINK WERE
FINITE. I WAS ACTUALLY ON THE
ADVISORY BOARD, BUT I THINK WE
EXPENDED ALL OF THOSE FUNDS. I'
WONDERING FOR THE CURRENT TENAN
IMPROVEMENT FUND, IF I'M CORREC
THE OTHER FUNDS ARE NO LONGER
AVAILABLE, WHAT IS THE FUND
SOURCE FOR THE TENANT
IMPROVEMENT FUND, AND
SPECIFICALLY YOU'D MENTIONED HO
TO ADDRESS THE PUBLIC BENEFIT
OBLIGATIONS ACCOMPANYING THE
BARRIER, BECAUSE WE HAD TO FOCU
ON LOW INCOME BUSINESS OWNERS.
WONDERING HOW YOU'RE HANDLING
THAT NOW.
>> I'LL TALK ABOUT THE BUDGET
THAT'S SUPPORTED THE PILOTS AND
WE CAN ADD IN ON OTHER PIECES.
THERE WAS THE NEW MARKET TAX
CREDIT COMMITTEE.
THEN WE'RE ALSO USING OUR
PAYROLL EXPENSE TAX FUNDS. SO
MOVING FORWARD, WE ARE REALLY
EXCITED ABOUT BEING ABLE TO
FIGURE OUT HOW TO MAKE THIS WOR
WITH OUR JUMP START FUNDS. SO
THERE'S DIFFERENT REQUIREMENTS,
SO WE'RE WORKING CLOSELY. SO
WITH THE BLOCK FUNDS, THAT'S ON
OF THE CATEGORIES THAT THE
FEDERAL FUNDS LOOK AT. SO WE
TRACK AND MONITOR THE NUMBER OF
JOBS CREATED WITH THE OTHER
FUNDS. WE'RE DOCUMENTING PUBLIC
BENEFIT. EACH BUSINESS PARTNER
LAYS OUT THE DIFFERENT PUBLIC
BENEFITS THAT THEY'LL BE
PROVIDING. SAME WITH THE
BUSINESS OWNERSHIP AS WELL. SO
SONYA AND SERGIO ARE PROVIDING
DESIGN SERVICES, WORKSHOPS FOR
THE COMMUNITY, AS WELL AS HIRIN
LOCAL RESIDENTS AS THEY GROW
THEIR BUSINESSES. ANYTHING ELSE
YOU WANT TO ADD ABOUT PUBLIC
BENEFIT?
>> YEAH, I THINK WHAT'S BEEN
REALLY EXCITING AND FUN ABOUT
THE PROCESS, BECAUSE IT HAS BEE
CHALLENGING, IS REALLY TRYING T
THINK THROUGH, WHAT ARE THE
AMAZING, THESE BUSINESS OWNERS
ARE ALREADY DOING SO MUCH. SO,
AND I THINK THEY WERE CHOSEN FO
A REASON. SO THE PUBLIC BENEFIT█
DIDN'T REALLY COME AS
CHALLENGING, AND IT WAS REALLY
EXCITING TO SEE AND HEAR AS WE
ASKED WHAT DO YOU DO FOR
COMMUNITY? WHAT CAN YOUR
BUSINESS GIVE BACK? SO EVERY
SINGLE TI PROJECT THAT FALLS
UNDER THE PAYROLL EXPENSE TAX I
BEING FUNDED BY P.E.T. IN
ADDITION TO JOBS CREATED, AN
EXAMPLE OF A PROJECT THAT WE'RE
WORKING ON, ON DELRIDGE IS A
DAYCARE. THEY'RE BUILDING OUT,
AND THEY ARE REALLY, REALLY
INTERESTED IN FIGURING OUT HOW
TO CONTINUE TO PROVIDE
SCHOLARSHIPS AND TUITION
SUBSIDIES ON TOP OF OTHER
MENTORSHIP THAT THEY'RE DOING.
SO WE FOUND THAT IT'S ACTUALLY
NOT THAT CHALLENGING TO FIND TH
PUBLIC BENEFIT AS LONG AS, YOU
KNOW, WE'RE REALLY ABLE TO, YOU
KNOW, SELECT THOSE BUSINESSES
THAT REALLY TRULY ARE BUSINESSE
THAT ARE DOING COMMUNITY
BENEFIT. SO THAT'S JUST AN
EXAMPLE. WE HAVE COLLEAGUES HER
TOO, THAT HAVE BEEN UNDERGOING
THOSE CONVERSATIONS, IF YOU'RE
INTERESTED IN SHARING SOME OF
THE PUBLIC BENEFIT.
>> THANKS. IT SOUNDS LIKE IT'S
MORE LEARNING TO QUANTIFY AND
TALK ABOUT THINGS THAT ARE
ALREADY BEING DONE.
>> TRYING TO FIGURE OUT HOW TO
DOCUMENT THIS AND THE RIGHT WAY
TO REPORT IT AND ALL THAT. SO
IT'S BEEN A GOOD COLLABORATION.
>> THAT'S GREAT. AND THE FUTURE
AND ACTIVE PROJECTS MAP. WHAT
PERIOD OF TIME DOES THAT COVER?
>> IS IT THE BUSINESS COMMUNITY
OWNERSHIP FUND?
>> I THINK THIS IS THE -- THE
COMMERCIAL AFFORDABILITY SLIDE.
IT SHOWS A NUMBER OF SEATTLE
RESTORED PROJECTS. TENANT
IMPROVEMENT FUND PROJECTS.
>> THAT'S AS OF NOW. THSE ARE
OUR CURRENT INVESTMENTS THAT
HAVE BEEN FUNDED.
>> OKAY, THANK YOU.
>> FROM 20 -- WHEN DID SEATTLE
RESTORE START IN 2022?
>> 2022 WINTER.
>> 2022, 2023.
>> GREAT, THANK YOU.
>> THANK YOU SO MUCH. I JUST
WANT TO MENTION THAT I HAVE BEE
WAITING TO LEARN MORE ABOUT THE
COMMERCIAL OWNERSHIP PROGRAM AN
YOU JUST TOUCHED ON SOME OF THE
ELEMENTS TODAY, AND I JUST WANT
TO ELEVATE THAT TO ME PROBABLY
THE BEST WAY WE CAN FIGHT
DISPLACEMENT, WHICH IS PROVIDIN
THE ABILITY TO -- ENTREPRENEURS
TO ACTUALLY OWN THEIR SPACE AND
TAKE THE WORRY OF HIGHER RENTS
OR JUST, YOU KNOW, A BUILDING
GETTING SOLD OFF THE PLATES. AN
SO THANK YOU VERY MUCH FOR
EXPLAINING THAT TODAY. AND I AM
PROBABLY GOING TO ASK TO -- FOR
YOU TO COME BACK AT SOME POINT
AND GIVE SOME MORE DETAIL.
BECAUSE THIS IS GROUNDBREAKING
WORK THAT YOU'VE BEEN ABLE TO
GET OFF THE GROUND. I DO HAVE T
SAY FOR THE VIEWING PUBLIC, IT
IS VERY DIFFICULT FOR
WASHINGTON. YOUR QUESTION,
COUNCILMEMBER HERBOLD IS DRIVEN
IN PART BY THE FACT THAT OUR
CONSTITUTION PROHIBITS THE
GIFTING OF PUBLIC FUNDS TO A
BUSINESSPERSON. PUBLIC BENEFIT
TO BE DEMONSTRATED, QUANTIFIED,
ET CETERA, SO YOU CAN'T JUST
GIVE A BUSINESS OWNER $2 BILLIO
TO BUY THEIR SPACE. SO WE'RE
THINKING CREATIVELY ABOUT HOW T
DO THAT. SO THANK YOU VERY MUCH
FOR THE LAUNCH OF THIS PROGRAM
AND GOOD WORK ON THAT ONE
SEGMENT. I'VE HEARD ABOUT THE
OTHER PROGRAMS BEFORE QUITE
OFTEN, BUT I JUST WANTED TO
ELEVATE THAT ONE.
>> CAN I JUST SAY, TOO, I JUST
WANT TO ACKNOWLEDGE THE HARD
WORK AROUND THE TABLE AND THE
FOLKS THAT AREN'T HERE TODAY. W
HAVE BEEN LEARNING AND DOING NE
PROGRAMS ON THE FLY. FOLKS HAVE
BEEN PICKING THINGS UP, AND
DOING WHATEVER IT TAKES TO GET
THE HARD WORK OFF THE GROUND.
>> YEAH, AND THIS IS REAL MONEY
IN YOUR HANDS. THIS IS DIRECT
AID. AND THAT IS WHAT I CAME
INTO OFFICE ALWAYS SAYING,
THAT'S WHAT'S IMPORTANT IS
MAKING SURE THAT OUR PUBLIC
DOLLARS ARE GOING TO THE PEOPLE
THAT NEED IT MOST, SO YOU CAN
STAY IN TOWN, CREATE JOBS, AND
GENERATE WEALTH FOR YOURSELVES.
SO THANK YOU SO MUCH FOR TODAY'
PRESENTATION. I LOOK FORWARD TO
LEARNING MORE ABOUT YOUR
INDIVIDUAL PROJECTS AND
SUPPORTING THE PROGRAMS GOING
FORWARD.
>> GREAT, THANK YOU TO THE
COMMITTEE. REALLY APPRECIATE TH
OPPORTUNITY.
>> THANK YOU.
>> ALL RIGHT, AS NOTED, WHILE
WE'RE WAITING FOR EVERYBODY TO
COME UP, AS HAS BEEN TOUCHED O
ALREADY, THE JUMP START FUND -
THE SPENDING PLAN FOR JUMP STAR
ALLOCATES 15% OF THE REVENUE FO
ECONOMIC REVITALIZATION. SO THI
RESOLUTION IS A WAY TO -- WELL
WHAT I INTENDED WITH THIS
RESOLUTION WAS TO ENDORSE OED'S
PRIORITIES FOR THOSE DOLLARS,
WHICH HAVE BEEN DEFINED BY THE
FUTURE OF SEATTLE ECONOMY REPOR
AND WORK GROUP PROCESS. AND SO
JASMINE IS GOING TO, FROM
CENTRAL STAFF, YOU'LL INTRODUCE
YOURSELF IN A SECOND, GO THROUG
THE COMPONENTS OF THIS
RESOLUTION. BUT IT IS INTENDED,
AS A SORT OF A -- NOT
NECESSARILY A PREVIEW, BUT WE'R
SETTING THE STAGE FOR THE BUDGE
THAT COMES FORWARD SO MY
COLLEAGUES AND THE PUBLIC ARE
CLEAR THERE IS A RATIONALE
BEHIND THE BUDGET THAT WE'LL SE
GOING FORWARD FROM OED. WITH
THAT, I WILL ASK YOU TO READ TH
NEXT ITEM INTO THE AGENDA, AND
WE'LL GO FORWARD.
>> AGENDA ITEM NUMBER 7, A
RESOLUTION ESTABLISHING THE
SHARED CITY AND COMMUNITY GOALS
AND STRATEGIES OF THE FUTURE OF
THE SEATTLE COMMITTEE INVESTMEN
AGENDA AS CITY POLICY AND
CRITICAL FOUNDATION FOR ECONOMI
DEVELOPMENT WORK IN SEAT FOR
BRIEFING, DISCUSSION, AND
POSSIBLE VOTE.
>> THANK YOU VERY MUCH. GO
AHEAD.
>> GOOD MORNING, COUNCILMEMBERS
MY NAME IS JASMINE MARWAHA. I'M
ON CENTRAL STAFF. I WILL GO
AHEAD AND JUST JUMP RIGHT INTO
THE PRESENTATION. > GREAT. AND
THANKS TO STEVEN FOR RUNNING TH
SLIDES. SO AS NOTED IN THE TITL
OF THE RESOLUTION, ONE OF THE
GOALS IS TO ESTABLISH THE FUTUR
OF THE SEATTLE ECONOMY
INVESTMENT AGENDA AS CITY
POLICY, AS A YOU UNDERSTAND
FORATION FOR ECONOMIC
DEVELOPMENT WORK IN SEATTLE. IT
SPECIFICALLY ENDORSES THE USE O
15% OF JUMP START FUNDS SLATED
FOR RECOVERY AND RESILIENCE TO
ADVANCE THE AGENDAS. AND
COORDINATE THE IMPLEMENTATION.
NEXT SLIDE. SO YOU'VE HEARD
BEFORE THE FSE AGENDA IS
ORGANIZED INTO FIVE BUCKETS OR
STRATEGIC PILLARS. AND I'M NOT
-- I WON'T GO INTO DETAIL INTO
ALL OF THEM, BUT I THOUGHT IT
MIGHT BE WORTH PUTTING INTO
THESE SLIDES IN A SLIGHTLY
DIFFERENT FORMAT, BECAUSE THE
RESOLUTION REORDERS SOME OF THE
RECOMMENDATIONS AND PUTS THEM A
A LITTLE BIT OF A HIGHER LEVEL
FOR PURPOSES OF ESTABLISHING
THAT FOUNDATION. SO FOR EXAMPLE
IN THE FSE INVESTMENT AGENDA
REPORT THERE'S ONE
RECOMMENDATION THAT ASKS FOR
BUILDING TWO GENERATION
CAREGIVER SUPPORTS FOR
PARTICIPANTS AND THE SUMMER
YOUTH EMPLOYMENT PROGRAM. THAT'
A GREAT RECOMMENDATION BUT FOR
PURPOSES OF ESTABLISHING THAT
FOUNDATIONAL FRAMEWORK, THAT HA
BECOME WRAP AROUND SUPPORT
SERVICES FOR PARTICIPANTS AND
CITY SUPPORTED WORKFORCE
DEVELOPMENT PROGRAMS. SO REALLY
CREATING THAT HIGHER LEVEL.
ADDITIONALLY AS YOU SAW IN OED'
PRESENTATION, THERE WERE A FEW
RECOMMENDATIONS THAT WERE ECHOE
IN MULTIPLE PILLARS SO THE
RESOLUTION SIMPLIFIES THE LIST
SO THAT EACH INVESTMENT IS
LISTED ONLY ONCE. SO HERE YOU
SEE THAT LIST FOR THE INVESTING
AND TALENT, AND BUILDING OUR
WORKFORCE PILLAR AND THIS
SUPPORTING IS SMALL BUSINESS AN
WOMEN AND MINORITY OWNED
BUSINESS ENTREPRENEURS. IF
THERE'S ANY QUESTIONS, FEEL FRE
TO STOP ALONG THE WAY, BUT I'LL
JUST KEEP GOING TO THE NEXT
SLIDE.
>> SURE.
>> SO YOU JUST GOT AN EXTENSIVE
PRESENTATION ON THE GENERATING
WEALTH IN COMMUNITIES OF COLOR
PILLAR. SO WE CAN GO TO THE NEX
SLIDE, UNLESS THERE'S QUESTIONS
AND THEN THE LAST TWO PILLARS
ARE INVESTING IN OUR
NEIGHBORHOOD BUSINESS DISTRICTS
AND GROWING BUSINESSES AND KEY
INDUSTRIES. NEXT SLIDE. AND
ALSO, I DISCUSSED IN THE
PREVIOUS PRESENTATION THERE ARE
A FEW BIG BETS MENTIONED. AND
THOSE ARE WHERE OED PLANS TO
WORK WITH OTHER PARTNERS AND
ORGANIZATIONS TO LAY THE GROUND
WORK FOR SOME OF THESE BIG BATS
ONE OF THE QUESTION I HAD WAS
WHAT DOES IT MEAN TO LAY THE
GROUND WORK. THESE ARE MOON
SHOTS AND THE 15% OF THE JUMP
START FUNDING WON'T NECESSARILY
ADDRESS SIGNIFICANTLY ANY OF
THESE AREAS. BUT THERE ARE ROLE
IN WHICH THERE COULD BE SOME
STRATEGIC INVESTMENTS MADE, OR
AT LEAST COORDINATING AND
CONVERSATIONS HAD TO TRULY GIVE
AN ECONOMIC DEVELOPMENT
PERSPECTIVE TO SOME OF THESE
ITEMS. SO THAT'S THE BIG BETS.
THAT MOVES US ALONG TO THE NEXT
STEPS. SO AS MENTIONED, THE
RESOLUTION HAS A REPORT BACK TO
COMMITTEE BECAUSE MANY OF THESE
INVESTMENTS, THE BIG BETS, AS
WELL AS EVEN THE SPECIFIC
INVESTMENTS ARE OVERLAPPING WIT
SOME OF THE PROGRAMS AND
INVESTMENTS IN OTHER
DEPARTMENTS. AND SO I THINK
THERE'S A SHARED INTEREST
BETWEEN THE DEPARTMENT AND
COUNCIL TO DE-SILO A LOT OF THI
WORK AND CLARIFY ROLES AND
RESPONSIBILITIES TO COORDINATE
OUTREACH TO KEY STAKEHOLDERS SO
WE DON'T HAVE COMMUNITY FATIGUE
TO STRATEGICALLY DEPLOY
DIFFERENT FUNDING SOURCES WHERE
IT MAKES SENSE AND A LEVERAGE
THAT COMPLEMENT STRATEGIES
DEPENDING ON EXPERTISE. SO THAT
REPORT BACK IS EXPECTED IN THE
FIRST QUARTER OF NEXT YEAR. AND
THEN AS CHAIR NELSON MENTIONED,
THIS IS REALLY SETTING UP THE
CONVERSATION FOR THE FALL BUDGE
PROCESS. THE DEVIL'S IN THE
DETAILS. THIS IS A FRAMEWORK
THAT'S MENTIONED AT A HIGH
LEVEL. BUT YOU KNOW, WE'RE GOIN
TO DIG INTO MORE SPECIFICS IN
THE BUDGET PROCESS. POTENTIALLY
THE SECTORS AS COUNCILMEMBER
HERBOLD MENTIONED AROUND THE
ABSENCE OF CREATIVE COMMITTEE.
THAT'S REALLY THE PLACE WHERE
WE'RE GOING CAN TO BE DIVING
INTO THE FOCUS AREAS OF SOME OF
THESE FOUNDATIONAL PIECES. AND
THEN, CENTRAL STAFF IS
INTERESTED IN LEARNING MORE
ABOUT THE PLAN FOR CONTINUED
COMMUNITY CODESIGN. VERY
ENCOURAGING THAT THERE'S BEEN A
ROBUST COMMUNITY PROCESS SO FAR
AS WE KNOW, IMPLEMENTATION,
WE'LL BE LOOKING FOR THAT. AND
ALSO, LOOKING AT SORT OF THE
PROGRAM EVALUATION PIECES. HOW
ARE THEY GOING TO MEASURE
SUCCESS. WHAT ARE THE SPECIFIC
OUTCOMES AND INDICATERS AND HOW
DO THOSE INDICATERS ADVANCE THA
VISION FOR AN INCREASIVE SEATTL
ECONOMY? SO WE HOPE TO DIVE
INTO ALL OF THAT. AND YEAH, I
THINK THAT CONCLUDES MY
PRESENTATION.
>> THANK YOU VERY MUCH. AND SO,
JUST FOR THE FOLKS THAT ARE
WATCHING AND LISTENING, THERE
ARE NO DOLLAR AMOUNTS IN THIS
RESOLUTION, OBVIOUSLY, THAT IS
-- BUDGETS ARE STILL BEING
PRODUCED. COUNCIL SEES THAT IN
SEPTEMBER. SO WE'RE NOT TALKING
ABOUT ACTUAL EXPANSIONS. WE'RE
TALKING ABOUT THE FOUNDATION
THAT LIES AT THE BASIS FOR FOR
OED'S BUDGET AND THE EXPENDTURE
THAT THEY WILL BRING FORWARD.
AND, YOU KNOW, TODAY'S
CONVERSATION DOESN'T JUST
ESTABLISH THAT THERE'S COMMUNIT
BUY-IN TO ALL OF THIS. THAT'S
NOT WHY WE BRING ALL OF THESE
PEOPLE TO CITY HALL AND TO SIT
AROUND A TABLE AND TALK TO US.
THIS IS COMMUNITY DRIVEN. SO
THAT IS SOMETHING I REALLY WANT
TO EMPHASIZE. AND THIS
RESOLUTION, IN THE FIVE PILLARS
REALLY DOES, IT'S IMPORTANT
BECAUSE IT'S AN EDUCATIONAL TOO
SO THAT PEOPLE KNOW HOW CITY
RESOURCES ARE BEING SPENT FOR
THE BENEFIT OF THE WIDER
COMMUNITY. AND, YOU KNOW, IT'S
ALSO SO NOT ONLY IS IT AN
ENDORSEMENT OF YOUR -- OF OED'S
BUDGET COMING FORWARD, BUT IT'S
ALSO A RECOMMENDATION BY THE
CITY THAT THE BUSINESS COMMUNIT
IS GENERATING SHARED PROSPERITY
THAT THE CITY ITSELF RELIES ON
TO BE ABLE TO PROVIDE SERVICES
FOR THE CITY. THAT'S WHAT LOCAL
GOVERNMENT DOES. SO THANK YOU
VERY MUCH. BIG THANKS TO YOU.
YOU'VE BEEN WORKING ON THIS FOR
MONTHS, AND MONTHS, AND MONTHS
JASMINE. SO I COULDN'T OBVIOUSL
HAVE DONE THIS WITHOUT YOU, AND
I REALLY APPRECIATE THE WORK
THAT YOU'VE PUT INTO THIS. DO M
COLLEAGUES HAVE COMMENTS OR
QUESTIONS? I WILL BEFORE I MOVE
IT AND ADDRESS THE AMENDMENT.
>> NO, I WILL HOLD MY COMMENT
FOR THE AMENDMENT.
>> JUST A MOMENT PLEASE. I AM
GETTING OFF THIS SCREEN HERE. I
THERE ARE NO FURTHER QUESTIONS,
OR COMMENTS OR ANYTHING LIKE
THAT, I WILL SAY THIS THING
HERE, JUST A MOMENT. I MOVE --
ONE MOMENT. YEAH. I MOVE THIS
-- I DID NOT PUT THIS IN MY
SCRIPT. I MOVE RESOLUTION FOUR
FOR THE COMMITTEE TO CONSIDER
THE RECOMMENDATION THAT THIS
PASS FULL COUNCIL AND THAT IS M
MOTION.
>> SECOND.
>> THAT IS MY VERY SLOPPY
MOTION. I'M SORRY, EVERYBODY.
>> YEAH, RESOLUTION 32099.
>> THANK YOU VERY MUCH.
>> IT'S ALMOST -- YES. IN ANY
CASE, WE DO HAVE AN AMENDMENT.
AND I WILL GO CAN FORWARD AND
ASK YOU TO MOVE THAT AMENDMENT.
>> ABSOLUTELY.
>> THANK YOU SO MUCH. I MOVE TO
AMEND RESOLUTION 32099 AS
PRESENTED IN AMENDMENT 1, WHICH
WAS ALSO REPEATLY DISTRIBUTED.
>> THANK YOU VERY MUCH.
>> SECOND. SECOND.
>> IT'S BEEN MOVED AND SECONDED
LET'S GO AHEAD AND DISCUSS THE
AMENDMENT.
>> VERY APPRECIATIVE OF THE
OPPORTUNITY TO DISCUSS THIS
AMENDMENT THAT WAS DISTRIBUTED
BY MY OFFICE YESTERDAY AT AROUN
6:00. COMMITTEE MEMBERS SAW IT.
I APPRECIATE JASMINE MARWAHA FO
DRAFTING IT VERY QUICKLY AFTER
RECEIVING THE CONTENT OF THE
RESOLUTION AND THE PRESENTATION
TODAY. THIS AMENDMENT JUST
SIMPLY ADDS THE OFFICE OF
HOUSES, AND THE OFFICE OF ARTS
AND CULTURE TO THE LIST OF THE
DEPARTMENTS THAT THE COUNCIL IS
REQUESTING THAT OED WORK WITH O
ITS FUTURE OF SEATTLE'S ECONOMY
AGENDA. IN MANY YEARS I'VE
SPOKEN TO THE IMPORTANCE OF
INCLUDING ARTISTS, THE CREATIVE
ECONOMY AMONG THE KEY INDUSTRIE
FOR THE CITY OF SEATTLE. THE
OFFICE OF ECONOMIC DEVELOPMENT'
OWN WORK PRODUCT SHOWS THAT OUR
ECONOMIC FATALITY IS UNUSUALLY
DRIVEN BY CREATIVE INDUSTRIES.
AND TO ENSURE THAT OUR ARTS AND
CULTURE IS NOT LEFT BEHIND, I
THINK IT'S REALLY IMPORTANT THA
WE LIFT UP THAT WORK. SO THAT
WHILE OED DOES WORK
COLLABORATIVELY WITH THE OFFICE
OF ARTS AND CULTURE, I THINK
IT'S IMPORTANT AGAIN TO
HIGHLIGHT THAT UNDERPAYING OF A
POLICY INTENT. SIMILARLY, ON TH
HOUSING SIDE, WITH THE GOAL OF
COLLOCATING AFFORDABLE HOUSING,
AND AFFORDABLE COMMERCIAL SPACE
I ASK BOTH DIRECTOR MCINTYRE AN
DIRECTOR WINKLER-CHIN OF THE
OFFICE OF HOUSING ABOUT HOW THE
WOULD ACCOMPLISH THIS LONG
STANDING GOAL DURING THE
CONFIRMATION PROCESS. I'VE BEEN
PURSUING THIS GOAL FOR MANY
YEARS, AND I'M VERY EXCITED TO
HEAR ABOUT SOME OF THE PROJECTS
THAT ARE MOVING THIS OBJECTIVE
FORWARD. MANY OF YOU HAVE
PROBABLY HEARD ME TALK ABOUT TH
DUE DUMORE STITE IN DISTRICT
ONE. WHERE THE COMMUNITY IS
INTERESTED IN HAVING HOUSING
WITH SOME SORT OF GROUND FLOOR
SPACE THAT CAN BE COMMUNITY USE
WHETHER OR NOT IT'S COMMERCIAL
OR OTHERWISE. SO REALLY,
APPRECIATIVE OF OED LEADING IN
THIS WORK. WORKING WITH THE
OFFICE OF HOUSING, AND JUST I'M
TAKING THIS RESOLUTION AS AN
OPPORTUNITY TO LIFT IT UP. I
TOTALLY UNDERSTAND THAT AS
DRAFTED, THE RESOLUTION DID NOT
PRECLUDE COLLABORATION WITH ART
AND THE OFFICE OF HOUSING. BUT
IT'S JUST IMPORTANT TO ME TO SE
THESE IMPORTANT PRIORITIES,
SPECIFICALLY MENTIONED. THANK
YOU.
>> THANK YOU. SO THE -- THANK
YOU VERY MUCH FOR THAT
EXPLANATION. IT IS ON THE SCREE
FOR FOLKS TO SEE. AND SO, JUST
FOR WORK GROUP MEMBERS THIS IS
-- THIS IS ENCOURAGEMENT, IF I
UNDERSTAND CORRECTLY. THAT IT'S
AN ENCOURAGEMENT IN A BASIC
PUTTING DOWN ON PAPER THE FACT
THAT OED WILL COORDINATE WITH
ALL OF THE DEPARTMENTS THAT ARE
INVOLVED IN EXECUTING THE
ELEMENTS OF THE FUTURE OF
SEATTLE ECONOMY. AND SO I
RECOGNIZE THAT EVEN THOUGH THE
CREATIVE ECONOMY IS NOT DIRECTL
SPELLED OUT IN THE FUTURE OF
SEATTLE ECONOMY, IT IS LIKELY
THAT OBVIOUSLY THE STEPS THAT
YOU WILL TAKE AS YOU EXPLAINED
EARLIER IN THE MEETING WILL
PROMOTE THOSE BUSINESSES
INVOLVED IN THAT ECONOMY AND
THEY WILL NECESSARILY HAVE TO B
COORDINATION AMONGST
DEPARTMENTS. SO I APPRECIATE TH
ADDED EMPHASIS ON THAT. BECAUSE
WHAT FRUSTRATES PEOPLE IN
COMMUNITY AND SMALL BUSINESSES
TO NO END IS THE SILOIZATION OF
LOCAL GOVERNMENT. SO THANK YOU.
ALL RIGHT. YES? DID SOMEBODY?
OKAY. ALL RIGHT. WITH THAT, I
WILL -- WILL THE CLERK PLEASE
CALL -- IF THERE ARE NO OTHER
QUESTIONS ON THE AMENDMENT, WIL
THE CLERK PLEASE CALL THE ROLL
ON THE AMENDMENT?
>> COUNCILMEMBER JUAREZ?
>> AYE.
>> COUNCILMEMBER HERBOLD.
>> YES.
>> CHAIR NELSON.
>> AYE.
>> THREE IN FAVOR, NONE OPPOSED
>> THANK YOU VERY MUCH. THE
MOTION CARRIES, AND WE NOW HAVE
THE BASE LEGISLATION BEFORE US.
ARE THERE ANY OTHER QUESTIONS
FOR DISCUSSION? ALL RIGHT.
SEEING NONE, WILL THE CLERK
PLEASE CALL THE ROLL ON 3299.
>> COUNCIL PRESIDENT JUAREZ.
>> AYE.
>> COUNCILMEMBER HERBOLD.
>> YES.
>> COUNCIL CHAIR NELSON?
>> YES.
>> THE MOTION CARRIES 3-0.
>> THE MOTION IS GOING TO BE
RECOMMENDED BEFORE PASSAGE
BEFORE FULL COUNCIL ON TUESDAY.
COUNCILMEMBER WILLING. SO LET'S
MOVE ONTO THE FINAL AGENDA ITEM
THANK YOU VERY MUCH FOR SUPPORT
OF THIS RESOLUTION, AND FOR
EVERYBODY THAT CAME TO TALK TO
OED FOR BEING HERE TODAY.
>> AGENDA ITEM NUMBER 8,
PRESENTATION ON REPORT ON
SEATTLE CITY LIGHT 2022
FINANCIAL AUDIT FOR BRIEFING AN
DISCUSSION.
>> THANK YOU VERY MUCH. WHEN ON
HEARS AUDIT ONE GETS WORRIED.
BUT THIS IS ANNUAL INDEPENDENT
FINANCIAL ADULT OF CITY LIGHT,
WHICH IS REQUIRED. SO GO AHEAD
WITH YOUR PRESENTATION.
>> THANK YOU CHAIR NELSON. THIS
IS MIKE HAYNES. I'M THE INTERIM
GENERAL MANAGER FOR SEATTLE CIT
LIGHT. AS TOUGH AS THAT HAS
BEEN, I THINK WE'RE HERE TO
PRESENT SOME GOOD NEWS ON THE
FINANCIAL FRAMEWORK FOR SEATTLE
CITY LIGHT, AND WE HAVE OUR
INDEPENDENT AUDITOR ONLINE AS
WELL TO DO THE PRESENTATION.
I'LL HAND IT OFF TO NATALIE TO
DO SOME INTROS.
>> HELLO, NATALIE HAD HAYASHI
>> AND I'M JULIE LEVIN.
>> THANK YOU VERY MUCH.
>> BAKER TILLY, OUR INDEPENDEN
AUDITOR, OUR PARTNER IS AARON
WORTHMAN. HE WILL BE PRESENTING
THE FINDINGS ON THE STATUS OF
OUR 2022 FINANCIAL ADULT.
>> THANK YOU. AGAIN, MY NAME IS
AARON WORTHMAN. I'M PLEASED TO
PRESENT THE FISCAL YEAR 2022
FINANCIAL ADULT. FIRST THING I
WANT TO DO IS GO THROUGH AN
ADULT OVERVIEW. WHEN I DISCUSS
MAIN AREAS OF FOCUS, GO THROUGH
OUR ENTIRE COMMUNICATION AND
OPEN IT UP TO ANY QUESTIONS YOU
MIGHT HAVE. NEXT SLIDE. SO IF W
TAKE A STEP BACK AND LOOK AT TH
AUDIT THIS YEAR, I'D SAY THE
AUDIT WENT VERY WELL. OUR FIRM
SPENDS TIME GOING THROUGH THE
AUDIT PROCESS AND TAKING A LOOK
AT YOUR FINANCIAL STATEMENTS.
EVEN THOUGH WE SPEND ABOUT 1200
HOURS ON THE AUDIT, YOUR
MANAGEMENT TEAM, ALTHOUGH THEY
MAY NOT SPEND THAT MUCH, THEY
SPEND A CONSIDERABLE AMOUNT OF
TIME PREPARING FOR THE ADULT,
AND ANSWERING THE QUESTIONS. AN
WE THOUGHT THEY DID A GREAT JOB
THIS YEAR. EVERYONE WAS WELL
PREPARED AND ANTICIPATED OUR
QUESTIONS TIMELY. OUR FIRM
CONDUCTS FOUR WEEKS OF FIELD
WORK, WHICH WERE CONDUCTED IN
COMBINATION ON-SITE AND
REMOTELY. SO WE CONDUCTED ONE
WEEK OF PRELIMINARY FIELD WORK
ON SITE AND THREE WORKS
REMOTELY. THE LAST DATE OF OUR
FIELD WORK WAS APRIL 7th. WE
HAVE NO ADJUSTING JOURNAL
ENTRIES, WHICH IS GOOD. AND I'L
TOUCH ON THAT IN A LITTLE BIT.
IN A LITTLE BIT. IF WE WERE TO
LOOK AT THIS YEAR'S ADULT, I'D
SAY IT WAS A PRETTY NORMAL YEAR
THE ONLY DIFFERENCE WAS THERE
WAS NEW ACCOUNTING GUIDANCE
RELATIVE TO LEASES. THAT
GUIDANCE CAME OUT PROBABLY FOUR
OR FIVE YEARS AGO. SO I'D SAY
REALLY OVER THE LAST TWO YEARS,
YOUR MANAGEMENT TEAM, ALONG WIT
BAKER TILLY HAVE TAKEN A LOOK A
THE PROCESSES THAT YOUR
MANAGEMENT TEAM HAS FOR NOT ONL
IDENTIFYING LEASES, BUT
RECORDING LEASES. SO THAT'S
REALLY THE ONE CHANGE THAT YOU
HAD IN THIS YEAR'S FINANCIAL
ADIT, AUDIT, AND YOU'LL NOTE
THAT IN YOUR AUDIT REPORT. THOS
ARE THE STANDARD THAT WE'RE
REQUIRED TO FOLLOW AS YOUR AUDI
FIRM. IN ADDITION TO THAT, WE
ALSO AUDIT YOU IN COMPLIANCE
WITH GOVERNMENT AUDITING
STANDARDS. THOSE ARE ADDITIONAL
STANDARDS TO OUR TEAM. THE
SUPERVISION IN OUR TEAM. OUR
INDEPENDENCE NOT ONLY FOR BAKER
TILLY, BUT THE INDIVIDUALS ON
THE AUDIT. OUR AUDIT OBJECTIVE
IS TO OBTAIN ALMOST ASSURANCE.
THE END OF THIS YEAR'S AUDIT,
YOUR FINANCIAL STATEMENTS HAVE
RECEIVED AN UNMODIFIED OPINION,
WHICH IS ALSO KNOWN AS A CLEAN
OPINION, WHICH IS THE HIGHEST
LEVEL OF ASSURANCE THAT QUESTIO
WE CAN PROVIDE. I'D SAY ROUGHL
30% OF WHAT WE DO HAS TO DO WIT
INTERNAL CONTROLS. SO WE WILL
MAP AND TAKE A LOOK AT ALL OF
YOUR MAJOR PROCESSES, WHETHER I
BE FIXED ASSETS, REVENUES,
DISPURSEMENTS. WE'LL MAP THOSE,
IDENTIFY THE KEY CONTROLS AND
TEST THOSE CONTROLS FOR
EFFECTIVENESS. ONCE THING OF
NOTE, WE SPENT A SIGNIFICANT
AMOUNT OF TIME LOOKING AT YOUR
INFORMATION TECHNOLOGY CONTROLS
SO MUCH THAT WE HAVE AN
ASSISTANCE AUDITOR AS PART OF
OUR AUDITING TEAM. 40% OF WHAT
WE DO ARE THE SUBSTANTIVE TESTS
THAT'S THE NUTS AND BOLTS, IF
YOU WILL. THAT WOULD BE TAKING
LOOK AT YOUR FIXED ASSET
CONDITIONS. CONFIRMING YOUR CAS
AND INVESTMENT BALANCES.
CONFIRMING THE FAIR VALUE OF
THOSE INVESTMENTS. THAT'S ABOUT
40% OF WHAT WE DO. AND THE
REMAINING 30% IS THE PLANNING O
OUR AUDIT ENGAGEMENT. I'VE
OUTLINED SOME OF THE MAJOR AREA
OF FOCUS. NOT SURPRISING, ONE
WOULD BE YOUR CAPITAL ASSETS. I
YOU LOOK AT YOUR BALANCE SHEET,
I'D SAY CAPITAL ASSETS MAKE UP
MAJORITY OF YOUR BALANCE SHEET.
A REGULATORY ACCOUNTING.
ENVIRONMENTAL LIABILITIES. I'LL
TOUCH ON THAT IN A LITTLE BIT
WHEN I TALK ABOUT SIGNIFICANT
INVESTMENTS. EXPENDITURES, AND
PAYABLES, AND LASTLY, FINANCIAL
REPORTING. NEXT SLIDE. SO I
MENTIONED EARLIER, THAT WE
PROVIDE AN OPINION ON YOUR
FINANCIAL STATEMENTS. THE ONE
THING I WANT TO CLEAR UP IS WE
DO NOT PROVIDE AN OPINION ON
INTERNAL CONTROL. HOWEVER, IF W
FIND SIGNIFICANT BREAKDOWNS IN
INTERNAL CONTROL THAT WE DEEM T
BE MATERIAL OR SIGNIFICANT, WE
WOULD BE REQUIRED TO COMMUNICAT
THOSE TO YOU AS GOVERNANCE. SO
WHAT HAPPENS WITH INTERNAL
CONTROLS, WHEN WE IDENTIFY
INTERNAL CONTROLS, THE
PROFESSION REQUIRES US TO
CATEGORIZE THOSE IN AREA OF
SEVERITY. THE MOST SEVERE OF
WHICH WOULD BE MATERIAL
WEAKNESS. IT'S ANY BREAKDOWN, O
LACK OF CONTROLS THAT WOULD LEA
TO A MORE REASONABLE POSSIBILIT
THAT YOUR FINANCIAL STATEMENTS
COULD BE MATERIALLY MISSTATED
BECAUSE OF THAT BREAK DOWN, AND
WE DID NOT FIND ANY MATERIAL
WEAKNESSES. THE NEXT
CATEGORIZATION IS CALLED A
SIGNIFICANT DEFICIENCY. THAT
DEFINITION IS IT'S A LARGE
ENOUGH, OR BIG ENOUGH DEFICIENC
THAT IT WOULD WARRANT YOUR
ATTENTION OR GOVERNANCE, AND WE
DID NOT HAVE ANY SUCH
DEFICIENCIES. WE WILL OFTEN HAV
MINOR CONTROLLED DEFICIENCIES O
WHAT WE CALL INDUSTRY BEST
PRACTICES. WE WILL DISCUSS THOS
WITH MANAGEMENT. MANAGEMENT WIL
CURE THOSE DEFICIENCIES AND OUR
SUBSEQUENT AUDIT, WE WILL GO
BACK AND LOOK AT THE PROGRESS
THEY MADE. BUT THE THING TO NOT
IS RELATIVE TO THIS YEAR'S
AUDIT, SEATTLE CITY LIGHT DID
NOT VERY SIGNIFICANT
DEFICIENCIES, WHICH IS A GREAT
JOB BY MANAGEMENT. SO ONE OF TH
DELIVERIES YOU RECEIVED IS OUR
AUDIT RESULTS LETTER. ONE IS TH
SIGNIFICANT ACCOUNTING POLICIES
WHICH ARE WITHIN ONE TIER
FINANCIAL STATEMENTS. IF YOU
HAVEN'T TAKEN A LOOK AT THOSE
BEFORE, I'D URGE YOU TO DO SO.
AN EXAMPLE WOULD BE YOUR
CAPITALIZATION POLICY. SO WHAT
WE DO AWED AUDITORS, THAT
YOU'RE FOLLOWING IT. OFTENTIMES
GOVERNING BODIES WILL ASK ME,
AND WHEN WE TAKE A LOOK AT THES
FINANCIALS, WHAT ARE THE
LIMITATIONS OF THESE? WHAT
SHOULD WE TAKE A CLOSE LOOK AT?
I'LL SAY, THE LIMITATIONS OF
THESE STATEMENTS ARE ITEMS FOR
YOUR ATTENTION WILL HAVE TO DO
ANYTHING WITH AN ESTIMATE. SO A
AUDITORS, WE'RE REQUIRED TO
POINT OUT TO YOU ANY SIGNIFICAN
ACCOUNTING ESTIMATE WITHIN YOUR
FINANCIAL STATEMENTS. AND THOSE
ESTIMATES WITHIN YOUR
STATEMENTS, NOT SURPRISINGLY,
ARE YOUR NET PENSION LIABILITY,
YOUR SELF-INSURANCE CLAIMS. YOU
ALLOWANCE FOR DOUBTFUL ACCOUNTS
RELATIVE TO YOUR ACCOUNTS
RECEIVABLE. YOUR NET OTHER POST
EMPLOYMENT BENEFIT LIABILITY.
YOUR UNBILLED REVENUES, AND THE
YOUR ENVIRONMENTAL REMEDIATION
LIABILITIES. SO JUST KNOW WHEN
YOU TAKE A LOOK AT THOSE
STATEMENTS THAT THOSE SPECIFIC
ITEMS, THEY'RE SIGNIFICANT
ESTIMATES, AND YOU COULD SEE
SOME CHANGES YEAR TO YEAR. FOR
INSTANCE, WHEN YOU LOOK AT YOUR
NET PENSION LIABILITY, YOU'LL
SEE SOME SIGNIFICANT
FLUCTUATIONS RELATIVE TO HOW TH
MARKET PERFORMS. NEXT SLIDE. IF
WE HAD ANY SIGNIFICANT
DIFFICULTIES WE WOULD BE
REQUIRED TO DISCLOSE THOSE. AND
WE DID NOT HAVE ANY DIFFICULTIE
IN PERFORMING THIS YEAR'S AUDIT
YOU WILL SEE ATTACHED, WE HAVE
WHAT WE CALL OUR WAIVED
STATEMENTS SO MANAGEMENT HAS
CHOSEN NOT TO POST THOSE INTO
YOUR FINANCIAL RECORDS. THE
SIMPLE BEING IS THEY DID NOT
WANT TO OPEN UP THEIR WORKS FOR
THOSE INSUFFICIENT ADJUSTMENTS.
WE NEED TO ACCUMULATE ALL OF
THOSE TO MAKE SURE THEY DON'T
BECOME TOTAL FOR YOUR
FINANCIALS. SO YOU'LL SEE A COP
OF SOME IMPERIAL FINANCIAL
ADJUSTMENTS. THOSE ADJUSTMENT
WERE DETERMINED AND FOUND BY
YOUR MANAGEMENT ATTEMPT. NEXT
SLIDE. IF WE HAD ANY
DISAGREEMENTS WITH MANAGEMENT,
OR ANY SIGNIFICANT FINDINGS OR
ISSUES, WE WOULD BE REQUIRED TO
DISCLOSE THOSE TO YOU. JUST NOW
IF AT ANY POINT WE HAD A
SIGNIFICANT FINDING OR
SIGNIFICANT ISSUE, THIS WOULD
NOT BE THE FIRST TIME YOU WOULD
BE HEARING ABOUT THAT. I WOULD
REACH OUT TO THE GOVERNANCE
CHAIR TO HAVE THOSE DISCUSSIONS
ON A TIMELY BASIS. THE LAST
THING I WOULD WANT TO HAVE IF
I'M IN YOUR SHOES IS A SURPRISE
AS YOU COME INTO THIS AUDIT
PRESENTATION. NO DISAGREEMENTS
OR SIGNIFICANT FINDINGS AS PART
OF THE AUDIT PROSETS. NEXT
SLIDE. IF WE HAD ANY MATERIAL
CORRECTED MISSTATEMENTS OR
JOURNAL ENTRIES THAT WE FOUND A
PART OF THE AUDIT PROCESS, WE
WOULD BE REQUIRED TO COMMUNICAT
THOSE TO YOU, AND WE DID NOT
IDENTIFY ANY AS PART OF THIS
YEAR'S AUDIT. NEXT SLIDE. ATTAC
TODAY THAT AUDIT COMMUNICATION
RESULTS LETTER, WE HAVE A LETTE
FROM MANAGEMENT THAT'S CALLED
OUR MANAGEMENT REPRESENTATIONS.
IF IT YOU HAVEN'T SEEN THIS
BEFORE, I'D URGE YOU TO TAKE A
LOOK. WHAT IT IS, IS IT'S A LIS
OF ALL THE REPRESENTATIONS THAT
YOUR MANAGEMENT TEAM MAKES
RELATIVE TO THE AUDIT PROCESS,
AND TO YOUR FINANCIAL
STATEMENTS. IT WILL TOUCH ON
ITEMS SUCH AS INTERNAL CONTROL,
A NEW ACCOUNTING PRONOUNCEMENTS
FRAUD, RELATED PARTY
TRANSACTIONS. THINGS LIKE THAT.
BUT AGAIN, IF YOU HAVEN'T, I'D
URGE YOU TO TAKE A LOOK AT THAT
TO SEE WHAT TYPES OF
REPRESENTATIONS YOUR TEAM MAKES
NEXT SLIDE. IF YOUR TEAM
CONSULTED WITH ANY OTHER
ACCOUNTING FIRMS OR ACCOUNTANTS
RELATIVE TO ACCOUNTING POLICIES
WE WOULD BE REQUIRED TO BE
NOTIFIED OF THOSE
COMMUNICATIONS. AND WE WERE NOT
NOTIFIED OF ANY COMMUNICATIONS
TAKING PLACE IN THIS PAST YEAR.
NEXT SLIDE, PLEASE. ONE ITEM
THAT OFTEN GETS DISCUSSED IS
AUDITOR INDEPENDENCE. SO OUR
FIRM AND EVERY INDIVIDUAL ON OU
TEAM IS REQUIRED TO BE
INDEPENDENT AND RELATIVE TO YOU
ORGANIZATION, I'M HEAR TO SAY
THAT OUR FIRM AND EVERY
INDIVIDUAL IS INDEPENDENT IN
FACT AND APPEARANCE. NEXT SLIDE
THEN LASTLY, WE WANT TO THANK
EVERYONE FOR THEIR HELP. AS WE
SAID BEFORE, YOUR TEAM SPENDS A
SIGNIFICANT AMOUNT OF TIME, NOT
ONLY PREPARING FINANCIAL
STATEMENTS, BUT PREPARING OTHER
BOOKS AND RECORDS FOR OUR AUDIT
A HUGE THANK YOU TO KIRSTY,
NATALIE, JERRY, BARRY AND THE
REST OF THE CITY LIGHT'S TEAM.
PART OF WHAT AIDS IN HAVING A
GOOD AUDIT IS CONNECTING A
YEAR-ROUND AUDIT. HAVING A
PROACTIVE AUDIT RELATIONSHIP IN
THAT WHEN MANAGEMENT HAS
QUESTIONS, THEY REACH OUT RIGHT
AWAY TO HAVE THOSE DISCUSSIONS.
WHEN WE HAVE NEW ACCOUNTING
PRONOUNCEMENTS, SUCH AS LISA'S,
YOUR TEAM WILL WORK ON THAT A
YEAR OR TWO BEFORE IT'S ACTUALL
DUE TO BE IMPLEMENTED, SO WE CA
VET ANY QUESTIONS AT THAT TIME,
WE CAN ALSO SHARE INDUSTRY BEST
PRACTICES. WHEN IT GETS TIME FO
THE AUDIT, IT'S A PRETTY
SEAMLESS PROCESS. SO AGAIN,
GREAT JOB BY EVERYONE. WITH
THAT, I'LL OPEN IT UP TO ANY
QUESTIONS ANYONE HAD.
>> THANK YOU, AARON. SO IT
SOUNDS LIKE WE GOT A GRADE OF
VERY GOOD. AND I DON'T KNOW IF
THAT IS AN OFFICIAL DESIGNATION
BUT I'LL JUST TAKE IT AS ABOVE
AVERAGE AT LEAST. SO WHY DO WE
HAVE TO DO THIS? I THINK LET'S
STEP BACK, BECAUSE WHEN YOU SAY
1200 HOURS, IS THIS A
REQUIREMENT OF PUBLICLY OWNED
UTILITIES?
>> IT IS. SO SINCE YOU HAVE
REVENUE BONDS AND YOU HAVE DEBT
WITHIN YOUR SEATTLE CITY LIGHT,
ONE OF THOSE REQUIREMENTS OF
HAVING THAT DEBT IS YOU'RE
REQUIRED TO HAVE ANNUAL AUDIT.
UNDER THE REQUIREMENTS THAT I
HAD JUST READ EARLIER. SO THIS
IS ANNUAL REQUIREMENT THAT
YOU'LL HAVE INDEFINITELY, AS
LONG AS YOU HAVE OUTSTANDING
DEBT, AND ALSO FOR AN
ORGANIZATION YOUR SIZE, EVEN IF
YOU DIDN'T HAVE DEBT, IT WOULD
BE DEFINITELY SOMETHING THAT
YOU'D WANT TO HAVE CONDUCTED.
AND IN FACT, AS PART OF THE
STATE, THE STATE WOULD PROBABLY
REQUIRE YOU TO HAVE THAT AUDIT
CONDUCTED AS WELL. SO ON ANNUAL
BASIS, YOU CAN LOOK FORWARD TO
GOING THROUGH THIS PROCESS.
>> THANK YOU FOR ANSWERING THAT
FOR FOLKS THAT MIGHT NOT
UNDERSTAND THAT. I WILL -- WHAT
SECTION OF THIS AUDIT DO THE
QUESTIONS THAT YOU MET WITH ME
TO ASK? BECAUSE I WILL HAVE TO
SAY THAT, YOU KNOW, HE IS
REQUIRED AND THE AUDIT REQUIRES
THAT THE PEOPLE IN THE GOVERNIN
BODY ARE QUESTIONED.
>> SO THERE'S A STANDARD IT'S
CALLED STATEMENT IN AUDITING
STATEMENTS 99. THAT CAME EFFECT
IT HAD TO BE ABOUT TEN YEARS OR
SO AGO. WHAT DID REALLY DID WAS
IT SET RULES OR DIRECTION
RELATIVE TO FRAUD AND FRAUD
RISKS. PART OF THAT IS WE'RE
REQUIRED TO REACH OUT TO VARIOU
INDIVIDUALS THROUGHOUT THE
ORGANIZATION TO GET THEIR
THOUGHTS IN THE PLANNING PROCES
OF THE ADULT, RELATIVE TO
INTERNAL CONTROLS, FRAUD, AND
FRAUD RISKS. SOME OF THOSE
REQUIRED INTERVIEWS WOULD BE
WITH YOU THE CHAIR AS
GOVERNANCE. WE ALSO ARE REQUIRE
TO REACH OUT TO INDIVIDUALS FRO
MANAGEMENT, AND REACH OUT TO
VARIOUS INDIVIDUALS THROUGHOUT
THE ORGANIZATION. THE HOPE IS
WHAT WE THEN DO IS WE TAKE THAT
IF WE FIND OR HEAR OF ANY FRAUD
OR CONTROL BREAKDOWNS, WE THEN
USE THAT, INCORPORATE THAT INTO
OUR AUDIT AND TESTING PROGRAM.
>> THANK YOU VERY MUCH. DO MY
COLLEAGUES OR WOULD ANY OF YOU
AT THE TABLE FROM CITY LIGHT
CARE TO MAKE ANY COMMENTS OR
QUESTIONS?
>> NO COMMENTS. THIS WAS -- THE
AUDIT WENT REALLY WELL. WE
REALLY APPRECIATE BAKER TILLY'S
TEAM, THE ENTIRE TEAM DID A
GREAT JOB SUPPORTING THE AUDIT.
FULFILLING PBC'S PREPARED BY
CLIENTS ACCURATELY. CLEAN AUDIT
GOOD FINANCIAL RESULTS. STRONG
FINANCIAL RESULTS AS WELL.
THAT'S ABOUT IT. WHICH IS GOOD.
>> GREAT.
>> CHAIR NELSON, I WILL JUST AD
THAT IT'S A PLEASURE TO WORK
WITH A TALENTED TEAM, AND TO TH
SMART PEOPLE AT THE TABLE HERE
WITH ME TODAY, I'M JUST SUPER
PROUD AS A REPRESENTATIVE HERE.
SO I JUST WANT TO THANK THEM.
>> THIS IS REALLY IMPORTANT WHE
WE TALK ABOUT GOVERNMENT
ACCOUNTABILITY AND STEWARDSHIP
OF PUBLIC RESOURCES, I'VE
MENTIONED THIS ALREADY TODAY.
THANK YOU VERY MUCH FOR YOUR
PROFESSIONALISM. AND WHAT I'M
HEARING IS THAT FOR ANOTHER
YEAR, CITY LIGHT IS IN GOOD
POSITION, AND I DO WANT TO
RECOGNIZE THAT YEAR OVER YEAR,
THIS HAS BEEN THE CASE. SO THIS
IS TESTAMENT TO YOUR LEADERSHIP
MIKE. AND THIS IS A GOOD
OPPORTUNITY TO THANK DEBRA
SMITH, WHO HAS TRANSITIONED AWA
FROM CITY LIGHT. AND THERE IS A
SEARCH FOR A NEW GENERAL MANAGE
GOING ON RIGHT NOW. BUT MUCH
APPRECIATION AND CREDIT GOES TO
HER LEADERSHIP AS WELL. SO THAN
YOU SO MUCH FOR ANOTHER GREAT
YEAR OF RESULTS. I KNOW THAT
BEHIND THIS PRESENTATION IS A
LOT OF WORK ON YOUR BEHALF. AND
IN CONSTANT DILIGENCE TO MAKE
SURE THAT YOU'RE DOING RIGHT BY
THE PUBLIC AND BY THE UTILITY
ITSELF.
>> THANK YOU.
>> THANK YOU VERY MUCH. AND
THANK YOU MR. WORTHMAN FOR YET
ANOTHER THOROUGH AND WELL
EXPLAINED AUDIT.
>> THANK YOU. APPRECIATE THE
OPPORTUNITY.
>> OKAY. IF THERE AREN'T ANY
OTHER QUESTIONS ABOUT THIS
AGENDA ITEM, WE WILL -- YOU'LL
PROBABLY BE BACK NEXT YEAR ABOU
THIS TIME TO TALK ABOUT THE
PREVIOUS YEAR'S AUDIT AS WELL.
SO THIS CONCLUDES THE AGENDA OF
THE JULY 26th MEETING FOR THE
ECONOMIC DEVELOP AND TECH
COMMITTEE. OUR NEXT MEETING IS
SCHEDULED FOR AUGUST 9th AT
10:30 A.M. IF THERE'S NO OTHER
BUSINESS, LOOKING AROUND, HEADS
SHAKING. THIS MEETING WILL
ADJOURN. HEARING NO FURTHER
BUSINESS, IT IS 11:41 ON A
GORGEOUS DAY. SO THIS MEETING I
ADJOURNED. GO OUT AND ENJOY THE
WEATHER.
>> THANK YOU MADAM CHAIR. THANK
YOU, SEATTLE CITY LIGHT.
>> THANK YOU.
>> BYE.
>> THANK YOU.