2024-04-18-minutes-finance-study-session

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2024-04-18 MINUTES 2 5. Project Status and Funding: Upper County EOC Upper County EOC is in Phase 1 of design and site preparation expected to cost $ 3.5 MM, Phase 2 is projected at an additional $ 2MM. A grant has currently been secured in the amount of $ 1.2MM and a second has been applied for $ 4MM. In the absence of additional funding, a shortfall of 1.9MM is projected in order to get the project to threshold completion for occupancy. Discussion of other internal funding sources was had, including Capital Improvement Fund (Reet 1), 3/10th Tax/fund, 1/10th Criminal Justice fund and lastly ARPA funding. 6. Project Status & Funding: Rodeo Arena Improvements Mr. Carlson discusses funding scenarios for the Rodeo Arena Improvements. The project is expected to cost approximately $15.75 MM with a current shortfall of $6MM. The Prosecutor’s office has declared that Lodging Tax Funds are eligible for this project. Chairman Wachsmith wants to make sure the Lodging Tax RCW states that the funds can be used towards the Rodeo Arena. Kady Porterfield’s understanding is that the Large Capital project funding through the Lodging Tax Committee is not available until the Strategic Plan is completed with the Chamber of Commerce. Commissioner Wright would like a meeting with the BOCC and LTAC to discuss further. In addition Commissioner Wright would like to bring this topic to the next COG meeting. 7. Kittitas County Labor Market Data Mr. Carlson presented material from the Employment Security Department. Unemployment rates in Kittitas County have risen one percent between February 2023 and February 2024. Discussion was had. 8. Budget Retreat: Continuation of Discussion about Structure and Topic Mr. Carlson stated that this years Budget Retreat will be a ½ day meeting; 3 hours before lunch. The plan is to have pro-forma 2025 budget completed before the retreat. A proposed Fall Budget hearing will be comprised of 7 half-day meetings.