Title
Briefing on the Future Financial Needs for Long-Term Capital Projects - Including the County Courthouse
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive a briefing on the future financial needs for long-term capital projects, including the new County Courthouse. Briefing only; No action requested.
Report
Issue:
Whether to receive a briefing on the future financial needs for long-term capital projects, including the new County Courthouse.
Staff Contact:
Debbie Sullivan, Administrative Services Director, 360.753.8499
Steve Hall, City Manager, 360.753.8477
Presenter(s):
Debbie Sullivan, Administrative Services Director
Steve Hall, City Manager
Background and Analysis:
Thurston County is proposing to locate a new County Courthouse on the existing site of the Lee Creighton Justice Center on Plum Street in Olympia. The intent is to partner with the City to co-locate facilities. The preliminary planning level estimate for the City’s portion is between $25 - $30 million.
Staff will share future capital projects/equipment needs over the next 10 years. This will include the City’s portion of a new courthouse and jail, which will require debt financing. Staff will also share a summary of our current outstanding debt. This briefing will serve as background as the Finance Committee and City Council continue to pursue the opportunity to participate in a joint facility with Thurston County.
Neighborhood/Community Interests (if known):
N/A
Options:
Information only.
Financial Impact:
N/A
Attachments:
None