2017-04-10 Meeting to discuss Public Facilities DistrictMeeting to discuss Public Facilities District (PFD)
April 10, 2017
3:05 p.m.
Present: Commissioner Stamper, Commissioner Fund, Commissioner Jackson, Glenn Carter, Becky
Butler, Arny Davis, Todd Chaput
Guest: Susan DeLaire
Recorder: Rieva Lester
Commissioner Jackson said Todd Chaput recently met with himself and Commissioner Fund. At that
meeting, Todd had discussed an expansion of the sports hub and discussed a possible request for the
county to forgive the loan.
Commissioner Jackson referred to the grant loan agreement signed in March 18, 2013. He read from the
agreement, including portions discussing a $1 ticket fee as well as a payment schedule. Commissioner
Jackson said no payments were made to the county in March 2016 and March 2017.
Todd said the PFD designed the payment schedule. He said the spirit was that the revenue streams were
at the PFD’s discretion.
Todd said that if the debt is not forgiven, the loan will be paid off in the time allotted.
Becky Butler asked if there was any look at re-amortization.
Todd said no. He said there is $350,000 in reserves and that he doesn’t foresee a problem with making
the payments.
Todd said the $1 is not being charged on the entry fee.
Todd said the revenue stream is solely the lessee’s rent.
Glenn Carter discussed the bonds related to the complex. He said that under the agreement, there was
supposed to be the $1 fee.
Todd said the agreement with the lessee may have predated the PFD’s agreement with the county.
Becky said a payment schedule was not adopted with the agreement.
Todd said the board opted not to make a payment in 2016 and to resume the repayment in 2017.
Commissioner Jackson pointed out that the original building has not yet been completed. He discussed
the need for .09 fund to be fluid to make funding available to other requesters.
The group discussed LTAC funding.
Todd said the complex has drawn tournaments from Tacoma, Seattle, and Portland.
Todd discussed possible plans for an expansion.
Arny Davis said Lewis County underwrites these bonds and is ultimately responsible. Arny said he is
concerned about the debt payment in the last few years. He discussed pending legislation at the state.
Commissioner Jackson asked about completion of the second level of the complex. Todd pegged the
estimate at $1.7 million to $2 million.
Arny said he would envision pushing the PFD’s obligation “down the road.”
Becky said if it is revised, it should include a payment schedule.
Glenn said if if’s re-amortized, an interest rate should be introduced.
Becky discussed other contracts signed as well as county policies in place.
Glenn said re-funding it could be worth looking into.
Commissioner Stamper said he likely would not favor forgiving the debt. He said he’d like to see other
options explored.
Becky asked if the loan could be restructured over 20 years with a 1 percent to 2 percent interest rate
and no prepayment penalty.
Commissioner Fund said she would like to see additional local accommodations listed on the sports
hub’s website.
Commissioner Jackson asked what the future could look like for hotel growth in the area. Todd
discussed a Marriott under construction in Grand Mound.
The group talked about the potential benefits of extending the loan with an interest rate and a cap.
Meeting ended at 4:02 p.m.