2023-01-23 Capital Funds MemoInternal Services
LEWIS COUNTY
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MEMO
TO: BOCC
351 NW North Street
Chehalis WA 98532
�{360.740.3349
30am of County Com "Wws
Lewis County Washington
FROM: Steve Wohld, Chief of Internal Services and Doug Carey, Capital Project Manager
DATE: 1/23/2023
SUBJECT: Capital Project Budget Review
Today we are discussing the financial needs to complete the ongoing Capital Projects.
We saw unprecedented construction inflation, some project condition changes, and it was decided not to
sell the Kresky building. All of these have led to this gap in finances needed to complete the projects.
Additionally, since starting these projects, the Jail has had some needs arise with the Roof and HVAC
concerns. Estimated: $7.5 million.
There are a couple of options being presented today. The first is to move some cash around to cover the
approximately $3.5 million gap for the general government projects. Then we would look at an internal
loan to cover the HVAC shortage. We met with "CFP" (Capital Facilities Planning Committee) and have
their recommendation to present.
The second is to bond at 3.5%-4% for up to $9 million to pay for the $3.5 million general gap and the $5.5
million Jail HVAC project.
Also, we could consider any combination of the above options.
We anticipate continued revenue from REET and 1/10%, as well as building lease rates will be sufficient
to pay for any of the presented options.
Thank you.
Steve Wohld
Human Resources, Risk Management, Public Disclosure Requests, Steve Wohld
Facilities and Maintenance, Information Technology Services Chief of Internal Services
Capital Projects, Parks, Southwest Washington Fairgrounds, Chief Information Officer
Events, Discover Lewis County, and Tourism