HomeMy WebLinkAboutR-2007-156 GE Aerospace Grant & Loan Application from Yakima County SIED FundA RESOLUTION
RESOLUTION NO. R-2007- 156
Authorizing the City Manager to execute a grant and loan application and
contract with Yakima County for funding from the Yakima County
Supporting Investments in Economic Development (SIED) Fund for
infrastructure improvements necessary South 28th Avenue for GE
Aerospace.
WHEREAS, Yakima County has established the Supporting Investments in Economic
Diversification (SIED) fund to assist the growth of business in the County; and
WHEREAS, economic development is a priority for the City of Yakima, and the City
intends to approach economic development on an inclusive, comprehensive basis which
involves public, private and community-based efforts Jo achieve new investment and
redevelopment in the City; and
WHEREAS, GE Aerospace is a major high wage employer in Yakima, and needs
improvements to South 28th Avenue to accommodate future growth opportunities; and
WHEREAS, the project will improve infrastructure around the Yakima Airport; and
WHEREAS, the cost to design and construct the road improvements is estimated to be
$55,000.00; and
WHEREAS, funding (through a grant/loan) may be available from Yakima County
through the SIED Fund for infrastructure improvements; and
WHEREAS, GE Aerospace has requested that the City submit a grant/loan application
with Yakima County to fund the infrastructure improvements from the SIED Fund; and
WHEREAS, the City Council deems it to be in the best interest of the City of Yakima to
authorize submittal of a grant/loan application with Yakima County for funding of said
infrastructure improvements from the SIED Fund, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager is hereby authorized and directed to execute a grant and loan application and
contract with Yakima County for funding from the Yakima County Supporting Investments in
Economic Development (SIED) Fund for infrastructure improvements necessary for the South
28th Avenue project, in the amount of $55,000.00. The City Manager is hereby designated as
the official representative of the City to act in connection with that funding application and is
authorized to take such additional actions as may be necessary and prudent to complete the
project.
ADOPTED BY THE CITY COUNCIL this 6th day o o ember, 007.
ATTEST: David Ed er, Mayor
City Clerk
-z007-15-6
SIED CONTRACT NO. YC GE 07
YAKIMA COUNTY
and
CITY OF YAKIMA
(GE -Aerospace)
I. PARTIES
This Supporting Investments in Economic Diversification (hereinafter referred to as
SIED) Contract is made by and between Yakima County (hereinafter referred to as the
County) whose address is 128 North Second Street, County Courthouse, Room 102,
Yakima, Washington 98901, and the City of Yakima (hereinafter referred to as the
City) whose address is 129 N 2"d Street, Yakima, Washington 98901. Notices between
the parties shall be made where and as provided for on Page 8, Section XXII,
NOTICES.
II. TERM
This Contract takes effect upon execution hereof by the authorized representatives of
both parties and continues in effect until all payments required under Section V,
MUTUAL CONSIDERATION, Subsection B. REPAYMENT OF COUNTY LOAN,
have been made or until terminated as. provided for in Section VIII, SUSPENSION,
TERMINATION, AND CLOSEOUT, provided, the County's right under Section V,
MUTUAL CONSIDERATION, Subsection D. OWNERSHIP AND USE, to use the
Project shall continue so long as the Project remains in use.
III. PURPOSE
The purpose of this Contract is to provide for the construction of certain infrastructure
improvements (hereinafter referred to as the Project) using certain County funds
designated for such infrastructure. The Project consists 350 linear feet of So. 28`"
Avenue beginning at Washington Avenue to heavy industrial standard and installing
sidewalk, curb and gutter on both sides of the roadway.
IV. RECITALS
The Parties make this Contract based on and in recognition of certain relevant facts and
circumstances including:
A. Sales and use taxes are collected in and for the County under authority of RCW
Filed Page 1 of 10 Contract No. YC GE 07
{
82.14.370 and Yakima County Code 3.10.010 for the purpose of financing public
facilities in the County, and the proceeds are deposited in the Yakima County
Infrastructure Fund (also referred to as SIED Fund), according to YCC 3.10.040.
B. The City proposes to construct the Project with a combination of City, private, and
County funds, including $55,000.00 from the SIED Fund, $27,500.00 to be in
the form of a loan and $27,500.00 to be in the form of a grant, and thereafter to
own and operate the Project for the benefit of the City and the County.
C. RCW 82.14.370 was adopted to serve the goals of promoting business in rural
distressed areas, providing family wage jobs and the development of communities
of excellence in such areas, and the parties expect the Project to further these
goals.
D. RCW 43.160 and 43.160.020 adopted and amended for related purposes with those
of RCW 82.14.370, define public facilities to include various buildings, structures
and works, such as the Project.
E. The County, under authority of RCW 36.01.085, and by agreement of February 19,
1999, has engaged the Yakima County Development Association, also known as
New Vision, to provide administrative and technical assistance in furtherance of
the County's economic development.
F. The County has also created the SIED Board to review applications for grants from
the SIED Fund and make recommendations for SIED Fund investments based on
commitment of other funds, potential for resulting job creation, and other factors.
G. New Vision has investigated the Project and assisted in preparing the pending
application for SIED funds, and the SIED Board has reviewed the application for
SIED funds and has recommended approval.
H. The SIED Fund balance is sufficient to make the requested contribution to the
Project.
I. RCW 39.34 authorizes interlocal agreements whereby municipal governments may
jointly exercise the powers granted to each.
V. MUTUAL CONSIDERATION
A. COUNTY LOAN—The County shall loan Twenty -Seven Thousand Five
Hundred Dollars and Zero Cents ($27,500.00) for the Project described herein.
This loan amount shall be by County warrant drawn on the SIED Fund and
payable to the City immediately upon approval of this agreement by Board of
County Commissioners following signatures from the City.
Filed Page 2 of 10 Contract No. YC GE 07
fi
B. REPAYMENT OF COUNTY LOAN—The City shall repay the County's loan
of Twenty -Seven Thousand Five Hundred Dollars and Zero Cents
(S27,500.00) with interest on unpaid principal, at an annual per annum rate
of 5.(0a 5 %, which is the Yakima County Interfund Loan Rate on the date this
Contract is approved by the County. Interest shall accrue from the date this
contract is approved by the County.
Repayment shall be made by the City in five equal annual installments
(including principal and interest) payable on June 1, 2008, and annually
thereafter on June 1 of each year, with the final payment nevertheless due on
June 1, 2012; Provided, however, that the final installment may be in such greater
or lesser amount as shall be required for full amortization of the repayment
amount.
These payments shall be by check payable to Yakima County Infrastructure
Fund and delivered to Yakima County Treasurer, Yakima County
Courthouse, Room 115, 128 North 2nd Street, Yakima, WA 98901. The City
obligation hereunder shall be a limited general obligation of the City, payable from
any legally available source of funds. Exhibit A attached hereto and incorporated
herein reflects the Debt Service Schedule as noted. The loan is not subject to
redemption prior to maturity (final date of repayment schedule).
In the event of payment by the City of any one or more installments, or of the
entire loan balance, before the date prescribed in Exhibit A, interest shall
accrue on such installment(s) or balance until, but not beyond, the June 1
next succeeding the date of such payment(s). If more than one installment is
paid during any repayment year, then the repayment period recited above
shall be correspondingly shortened and the scheduled of payments reflected
in Exhibit A shall be correspondingly advanced.
C. COUNTY GRANT—The County shall grant Twenty -Seven Thousand Five
Dollars and Zero Cents ($27,500.00) to the City for the Project described herein.
This grant shall be by County warrant drawn on the SIED Fund and payable
to the City within 30 days of the County's receipt of a signed copy of the
Project engineer's certificate that 50 percent of the work on the Project has
been completed and the City's invoice for said grant.
D. OWNERSHIP AND USE—The City shall construct, own, maintain, and operate
the Project as a part of its public infrastructure for economic development,
available for use by manufacturing and industrial concerns proximate to the
Project. The City shall also permit the use of the Project by the County and its
departments on like terms with other users, at such time as the Board of Yakima
County Commissioners may deem expedient. For purposes of this paragraph,
ownership, maintenance, and operation of the Project or any portion thereof by
Filed Page 3 of 10 Contract No. YC GE 07
another municipality, under any conveyance or dedication which is subject to and
preserves the County's right of use, shall be deemed ownership, maintenance, and
operation by the City.
VI. RECORDS, REPORTS AND AUDITS
The City agrees to maintain such records, make such reports and follow such procedures
as may be required by the County, pertaining to this Contract. All records pertaining to
this Contract and work undertaken hereunder shall be retained by the City for a period
of three years after final audit unless a longer period is required to resolve audit findings
or litigation. The County and other authorized representatives of the State and Federal
government shall have access to any books, documents, papers, and records of the City
which pertain to this Contract or work undertaken hereunder for the purpose of making
audit, examination, excerpts, and transcriptions.
VII. RELATIONSHIP OF PARTIES AND AGENTS
The relationship of the City to the County, with regard to construction of the Project,
shall be that of an independent contractor rendering professional services. The City
shall have no authority to execute contracts or to make commitments on behalf of the
County and nothing contained herein shall be deemed to create the relationship of
employer and employee or principal and agent between the County and the City.
The City represents that it has or will secure at its own expense all personnel,
contractors, and/or subcontractors required in order to perform work under this
Contract. Such personnel shall not be employees of the County. All such personnel,
contractors, and/or subcontractors shall be fully qualified and authorized/permitted
under State and/or local law to perform such services.
All services required hereunder will be performed by the City or under its supervision
and all personnel engaged in the work shall be fully qualified and shall be authorized or
permitted under State or local law to perform such services.
VIII. SUSPENSION, TERMINATION, AND CLOSEOUT
If the City fails to comply with the terms and conditions of this Contract, the County
may pursue such remedies as are legally available, including, but not limited to, the
suspension or termination of this Contract in the manner specified herein:
A. SUSPENSION If the City fails to comply with terms and conditions of this
Contract, or whenever the City is unable to substantiate full compliance with
provisions of this Contract, the County may suspend this Contract pending
Filed Page 4 of 10 Contract No. YC GE 07
corrective action or investigation, effective not less than seven days following
written notification to the City or its authorized representative. The suspension
will remain in full force and effect until the City has taken corrective action to the
satisfaction of the County and is able to substantiate its full compliance with the
terms and conditions of this Contract. No obligations incurred by the City or its
authorized representative during the period of suspension will be allowable under
this Contract, except:
1. Reasonable, proper, and otherwise allowable costs which the City could
not avoid during the period of suspension;
2. Otherwise allowable costs incurred during the period of suspension, if
upon investigation, the County is satisfied of the City's compliance
with the terms and conditions of this Contract to the extent of the
compensation claimed by the City.
B. TERMINATION FOR CAUSE—If the City fails to comply with the terms and
conditions of this Contract and any of the following conditions exist:
1. The lack of compliance with the provisions of this Contract were of
such scope and nature that the County deems _ continuation of this
Contract to be substantially detrimental to the interests of the County;
2. The City has failed to take satisfactory action as directed by the County
or its authorized representative within the time period specified by
same;
3. The City has failed within the time specified by the County or its
authorized representative to satisfactorily substantiate its compliance
with the terms and conditions of this Contract; then,
The County may terminate this Contract in whole or in part, and thereupon shall
notify the City of termination, the reasons therefore, and the effective date,
provided such effective date shall not be prior to notification of the City. After this
effective date, no charges incurred under any terminated portions outlined in the
application for funding are allowable.
C. TERMINATION FOR OTHER GROUNDS This Contract may also be
terminated in whole or in part by mutual consent and written agreement setting
forth the conditions of termination, including effective date and, in case of
termination in part, that portion to be terminated.
IX. COPYRIGHT RESTRICTION
Filed Page 5 of CO Contract No. YC GE 07
No report, maps, or other documents produced in whole or in part under this Contract
shall be the subject of an application for copyright by or on behalf of the City.
X. COMPLIANCE WITH LAWS
The County and the City shall comply with all applicable laws, ordinances, and codes of
the Federal, State and local governments with regard to the performance of this
Contract.
XI. TITLE VI OF THE CIVIL RIGHT ACT OF 1964
Under Title VI of the Civil Rights Act of 1964, no person shall, on the grounds of race,
color, creed, religion, sex, or national origin, be excluded from participation in, be
denied the benefits of, or be subjected to discrimination under any program or activity
receiving Federal financial assistance.
XII. SECTION 109—HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974
No person in the United States shall on the grounds of race, color, creed, religion, sex,
or national origin be excluded from participation in, be denied benefits of, or be
subjected to discrimination under any program or activity funded in whole or in part
with funds made available under this title.
XIII. AGE DISCRIMINATION ACT OF 1975 (As Amended)
No person shall be excluded from participation, denied program benefits, or subjected to
discrimination on the basis of age under any program or activity receiving Federal
funding assistance. (42 U.S.C. 610 et. seq.)
XIV. SECTION 504 OF THE REHABILITATION ACT OF 1973 (As Amended)
No otherwise qualified individual shall, solely by reason of his or her handicap, be
excluded from participation (including employment), denied program benefits, or
subjected to discrimination under any program or activity receiving Federal funds (29
U.S.C. 794).
XV. INTEREST OF MEMBERS OF THE COUNTY AND THE CITY
Filed Page 6 of 10' Contract No. YC GE 07
No member of the governing body of either party and no other officer, employee, or
agent of either party who exercises any functions or responsibilities in connection with
the planning or carrying out of the Project shall have any personal financial interest,
direct or indirect, in this Contract.
XVI. HOLD HARMLESS AND INDEMNITY
The City shall indemnify and hold harmless the County, its officers, agents, and
employees, from all liability, loss or damage, including costs of defense they may suffer
as a result of claims, demands, actions costs, or judgments which result from the
activities to be performed by the City, its agents, employees, or subcontractors pursuant
to this Contract.
XVII. PUBLIC LIABILITY
The City or its contractor(s) shall maintain for the duration of work under this Contract,
issued on an occurrence basis, comprehensive liability insurance with a combined single
limit of not less than one million dollars ($1,000,000) from a company authorized to
provide insurance in the State of Washington. Said policies shall provide that the policy
shall not be canceled or altered by any party without written notice to Yakima County,
delivered not less than thirty (30) days prior to such cancellation or alteration.
Applicant certifies that comprehensive liability insurance with a combined single limit
of not less than $1,000,000.00 is in effect.
XVIII. ASSIGNABILITY
The City shall not assign any interest in this Contract and shall not transfer any interest
in this Contract (whether by assignment or novation) without prior written consent of
the County thereto, provided, however, that claims for money by the City from the
County under this Contract may be assigned to a bank, trust company, or other financial
institution without such approval. Written notice of any such assignment or transfer
shall be furnished promptly to the County by the City.
XIX. NON -WAIVER
The failure of either party to insist upon strict performance of any provision of this
Contract or to exercise any right based upon a breach thereof or the acceptance of any
perfortrtance during such breach shall not constitute a waiver of any right under this
Contract.
Filed Page 7 of 10 Contract No. YC GE 07
XX. CONTRACT MODIFICATIONS
It is mutually agreed and understood that no modification or waiver of any clause or
condition of this Contract is binding upon either party unless such modification or
waiver is in writing and executed by the County and the City.
XXI. SEVERABILITY
If any portion of this Contract is changed per mutual contract or any portion is held
invalid, the remainder of this Contract shall remain in full force and effect.
XXII. NOTICES
Unless stated otherwise herein, all notices and demands shall be in writing and sent or
hand -delivered to the parties to their addresses as follows:
TO CITY:
TO COUNTY:
Bill Cook, Director
Community & Economic Development
City of Yakima
129 N 2" Street
Yakima, WA 98901
Steve Hill, Director
Yakima County Departments of
Community Services & Grant Management
128 North Second Street, Room 102
Yakima, WA 98901
or to such other addresses as the parties may hereafter designate in writing. Notices
and/or demands shall be sent by registered or certified mail, postage prepaid, or hand -
delivered. Such notices shall be deemed effective when mailed or hand -delivered at the
addresses specified above.
XXIII. INTEGRATION
This Contract contains all terms and conditions agreed to by the County and the City.
There are no other oral or written agreements between the City and County as to the
subjects contained herein. No changes or additions to this Contract shall be valid or
binding upon either party unless such change or addition be in writing and executed by
both parties.
Filed Page 8 of 10 Contract No. YC GE 07
r•
XXIV. GOVERNING LAW AND VENUE
All questions of the validity, construction, and application of this Contract shall be
governed by the laws of the State of Washington. Venue for any suit between the
parties arising out of this Contract shall be the Superior Court of Yakima County,
Washington.
XXV. FILING
Upon execution by the authorized representatives of the parties, a copy of this Contract
shall be promptly filed with the Yakima County Auditor pursuant to RCW 39.34.040.
* * * * * * * * * * * * * * *
Filed Page 9 of 10 Contract No. YC GE 07
IN WITNESS WHEREOF, the County and the City have executed this Contract as of the date
and year last written below.
CITY OF YAKIMA
Richard A. Zais, Jr., City Man
Approved as to Form:
go-,j-P9.„..fgae
Ray Paolella, City Attorney
BOARD OF COUNTY COMMISSIONERS
Debbie Moore, City Clerk
y 807
Date
CITY CONTRAC f NO7 7'19
RESOLUTION NO 0467-446
Michael D. Leita, Chairman
6'7 0
Ronald F. Gamac e, Commissioner
Excused
J. Rand Elliott, Commissioner
Approved as to Form:
John 'taffan, Deputy Prosecuting Attorney
CONTRACT AUTHORIZATION
Attest:
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Christina Steiner, Clerk of
Date
Filed Page 10 of 10 Contract No. YC GE 07
Dated 11/30/2007
Drlirer d 11/30/2007
Variable mate Transactions
City cf Yakima
GE - Aeraspac
SIA 30/360 YRL Y7/6
Suis Int
Conhou Int Calc Principal Efficlive Interest Credit Periodre Orrlstandin,
Period Date Dap Cuts Payment 'Coupon Kale Payment Enhancements Debt Service Balance
1 . 6/1/2008 181/360 5,513.02 5.62500 777.73
2 6/1/2009 360/360 5,053.98 5 62500 1,236.77
3 6/1/2010 360/360 5,338.27 5 62500 952.48
4 6/1/2011 360/360 5,638.55 5.62500 652.20
5 6/1/2012 360/360 5,956.18 5.62500 335 04
6,290.75
6,290.75
6,290.75
6,290.75
6,291.22
21,986.98
16,933.00
1 1,594.73
5,956.18
0.00
527,500.00 S3, 954.22
True Interest Cost (TIC)
Arbitrage Yield Limit (,4 YL)
Average Life
50.00 S31,454.22
5.6250000 Face Value of Bond Issue $27,500.00
0.0000000 Accrued Interest (+) $0.00
2.5562647 Original Issue Premiunz/Discount (+) $0.00
Underwriter Discount (+) $0.00
Lump -sum credit enhancements (-) $0.00
I'rcpun'd Gy: Yak:nu Cavity Tnusnn75 C we
Prepared on: 11/30/2007 14:49 12.95 Rpi 01/
MUNIDB
YCGE-2007-A
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 2 i
For Meeting Of: November 6, 2007
ITEM TITLE: Consideration of a resolution authorizing the City Manager to
execute and submit a $55,000.00 grant/loan application and
contract with the Yakima County Supporting Investments in
Economic Diversification (SIED) fund for the South 28th Avenue
Improvement Project.
SUBMITTED BY: Bill Cook, Director of Community and Economic Development
CONTACT: Michael Morales, Deputy Director 575-3533
SUMMARY EXPLANATION:
GE Aerospace (formerly Dowty or Smith Aerospace) is in a period of significant
company growth, and is making improvements to its facility on South 28th Avenue. GE
has asked the City to participate by making improvements to South 28th Avenue, in
order to accommodate the increased levels of heavy truck traffic to their facility. GE and
its neighbor have agreed to pay for the cost of installing curb, gutter and sidewalk to the
project area. The project is consistent with millions of dollars worth of infrastructure
improvements to the area that have taken place over the past 10 years.
CONTINUED ON NEXT PAGE
Resolution X Ordinance Contract Other: Grant & Loan Application
Funding Source: Yakima ounty SIED Fund
Approval for Submittal:
City ager
STAFF RECOMMENDATION:
BOARD RECOMMENDATION:
COUNCIL ACTION:
Staff recommends approval of the resolution.
1
With council approval, the City will be eligible to receive SIED funds for the project, in
the amount of $55,000. The SIED program is a Yakima County funding source for
economic development that originates from a refund of County tax revenue from the
State of Washington. SIED is administered for the County by YCDA/New Vision, and
the advisory board is appointed by the County, with nominations from the cities.
SIED funds are available only for construction of public infrastructure, and only in
association with new private sector development that creates or retains jobs. SIED
funding consists of a loan and grant award from Yakima County to the applicant
municipality or port district. Funding is limited to $500,000 per project.
2
Yakima County SIED Fund
Supporting Investments in
Economic Diversification
Application for funding
CITY OF YAKIMA
GE -AEROSPACE
SOUTH 28T" AVENUE
IMPROVEMENTS
Yakima County SIED Board
Supporting Investments In Economic Diversification
APPLICATION FOR FUNDING
CERTIFICATION
Applicant: City of Yakima
Federal Tax Number: 91-6001293
Contact: Bill Cook
Title: Director of Community & Economic Development
Telephone: 509/575-6113
Fax: 509/576-6792
Email: bcook@ci.yakima.wa.us
Address: 129 North 2nd Street
Yakima, WA 98901
Indicate the minimum necessary total public project infrastructure costs.
Amount of SIED loan requested:
(see Policies for limits)
Amount of SIED grant requested:
(see Policies for limits)
Local match (minimum 10% of SIED request):
List other funding source(s):
$27,500
$27, 500
$25,000
PRIVATE CONTRIBUTION
TOTAL public proiectcosts: $80,000
TOTAL private investment in plant/equipment $substantial
Project title: Improvements to South 28th Ave
Resolution # authorizing application: TBD
Declaration: I HEREBY CERTIFY THAT THE INFORMATION GIVEN IN THIS APPLICATION TO THE
SUPPORTING INVESTMENTS IN ECONOMIC DEVELOPMENT BOARD IS TRUE AND CORRECT TO THE BEST
OF MY KNOWLEDGE AND BELIEF.
Signature of Responsible Official:
Print or Type Name and Title: Richard A. Zais, Jr., City Manager
Application for Funding, 1998 Page 2 Yakima County SLED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
A. REQUEST FOR FUNDING
Al. Indicate the full terms requested for SIED consideration.
A SIED loan is a general obligation of the jurisdiction receiving the loan. With acceptance of a SIED loan, the
jurisdiction agrees to the terms of the interlocal agreement regardless of the project which prompted the
application for SIED funding.
O
A loan of: $27,500
A grant of $27,500 (maximum 40% of project costs*).
A deferral of the first loan payment (up to five years): lyear
• Loan terms requested: *Total number of years for repayment: 5 years
• Justify a request for a deferral of the first loan payment. What is the basis for a lower interest rate request?
To provide opportunity for the City to budget first repayment in the 2009 City budget. The 2008 budget
has been finalized but not voted on by council.
B. PUBLIC SECTOR PROJECT
BI. Describe the entire public facility project, including the parts that you are not asking SIED to fund.
Improve approximately 350 If of roadway to heavy industrial standard. Also install 350 If of
sidewalk, curb and gutter on both sides of roadway. South 28"' Avenue runs off of Washington
Avenue and serves cooperative leasing land from the Yakima Air Terminal, but it is not fully
improved.
B2. Will this project upgrade an existing public facility? Build a new one?. Describe.
Yes. South 28h Avenue's current condition is inadequate to handle the increasing amount of
heavy truck traffic that is necessary for the continued of GE Aerospace's Yakima Operation. In
addition, a work force transportation habits have changed, sidewalks are necessary to
accommodate workers that are more frequently using the multi -modal transportation facilities
available on the recently improved Washington Avenue (transit, bicycle).
Application for Funding, 1998 Page 3 Yakima County S1ED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
B3. List all funding sources for the public project and amount.
SOURCE STATUS DATE AMOUNT
SIED loan requested Pending 11/01/07 $27,500
SIED grant requested Pending 11/01/07 $27,500
Private Cash Contribution Committed $25,000
Total project costs $80,000
B4. Specifically, for what element(s) of the public project are SIED funds requested?
Construct roadway improvements and sidewalk, curb and gutter.
B5. Include a site map of the area. Identify the location of the site, public infrastructure and private development
project (existing and/or proposed). Specifically identify where SIED funds are proposed to be used.
B6. Attach engineering estimates supporting project costs. Identify whether estimates are from preliminary
engineering or design engineering work.
(Attention: SIED will not entertain requests for additional funding if projections are insufficient)
B7. Describe how the public facility project will enhance or encourage other development in the immediate area in
addition to the direct development described in this application (Section D.)
GE Aerospace is one of the largest and highest paying employers, not only in the airport
area, but the Yakima Valley. Significant improvements have been made to the area in recent
years to encourage business growth of existing and new companies in and around the
airport. These improvements include over $7 million to widen and improve Washington
Avenue, $880,000 to install a fiber optic loop around the airport, and several SIED funded
projects to assist business expansion (Cub Crafters, Cascade Quality Molding, Yakima Air
Park LLC, etc.). Airport frontage along the recently improved and widened Washington Ave
is ideally suited for Technology and Business Park Developments, with a fiber optic link
circling the airport. These properties provide a premium location. Unfortunately S. 28th Ave.
providing access to existing developments in this area, has not been fully developed to
Urban Standards. GE Aerospace proposes to partner with the City to complete this
necessary upgrade.
B8. List all permits and environmental reviews required for the PUBLIC SECTOR PROJECT and give their current
status (applied for, application being prepared, permit issued, etc.)
PERMIT ISSUER
SEPA City of Yakima
2
STATUS
ANTICIPATED
COMPLETION
DATE
exempt
B9. If environmental permits are not required for the project (e.g., Shorelines Permit, Environmental
Impact Statement, etc.), please explain why they are NOT required.
Application for Funding, 1998 Page 4 Yakima County SIED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
B10. Estimated schedule for public project completion. Indicate the month and year when the activities
listed have been, or will be, completed.
ESTIMATED COMPLETION DATE
(month/year)
Preliminary Engineering Report 10/31/07
Environmental Review NA
All Required Permits Obtained NA
Design Engineering 10/31/07
Land/Right-of-Way Acquisition na
Prepare Bid Documents 11/9/07
Award Construction Contract 11/16/07
Begin Construction 11/26/07
Project Operational 11/30/07
B11. What other jurisdictions, such as counties, cities, port districts, tribes, state/federal agencies are involved in the
planning, design, financing, construction or operation of this project?
Yakima Air Terminal
Please explain how completion of the project is coordinated between other involved parties.
B12. Will the SIED public facility project be totally maintained by the applicant? If not, whom? Please explain.
Yes
B13. How will this project impact utility rates and public services within the jurisdiction?
No Impact
B14. Is this project consistent with your local comprehensive and capital facilities plans? If no, please explain.
Yes
Application for Funding, 1998 Page 5 Yakima County SIED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
C. FINANCIAL INFORMATION ON CITIES, TOWNS, PORT DISTRICTS AND
COUNTIES
This section examines the general financial status of cities, towns, and counties to determine the need for SIED
assistance.
C1. Identify funds (General Fund, Utility Fund, Property taxes, etc.) that are eligible to repay a SIED loan.
Real Estate Excise Taxes
C2. In the context of the local governments overall annual budget, explain the need for SIED assistance. If the
applicant has budget reserves, please explain why these funds are not available for the project?
The City of Yakima has been forced in recent years to dip into reserves just to balance the
General Fund budget, and those reserves are now at critically low levels. The road and
streets capital budget has also taken on a number of initiatives in recent years that stretch
our financial capacity, making this type of investment cost prohibitive without external
funding sources.
C3. If the local jurisdiction is not financially contributing to the project, please explain why.
The City is participating by repaying the SIED loan.
C4. Has the use of revenue or general obligation bonds, LID, ULIDS been explored for this public facility project?
Yes_ No . Explain the outcome and describe why these financing sources would or would not be
applicable for this project.
See above
C5. Will a revenue stream be generated that could repay a SIED loan outside of the system's normal
operations and maintenance costs? Yes_ No_X . Please explain.
Project will not guarantee a Revenue Stream
Application for Funding, 1998 Page 6 Yakima County SLED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
C6. Other public sources of funding for public economic development projects are listed below. Indicate which
public sources were investigated to fund this project, in addition to SIED. Indicate what the outcome was.
YES NO OUTCOME
FEDERAL:
Economic Development Administration _ _X_ Not eligible
Rural Development _ X Not eligible
T21 (ISTEA) _ X Not eligible
Other: X
STATE:
Transportation Improvement Board _ X_ Not eligible
Community Development Block Grant _ X_ Not eligible
Public Works Trust Fund_ X Not eligible
Department of Ecology _ _X_ Not eligible
CERB _ X_ Not eligible
RTPO/MPO _ X_ Not eligible
WSDOT _ X_ Not eligible
Explain why SIED funds are necessary and the outcome of the investigation of other fund sources:
Based upon the small size of the project and the short timeline to assist and leverage
GE Aerospace's private investment, the above funding sources for this project would
not be eligible for the above funding sources. Community Development Block Grants
are invested by the City of Yakima in the City's Renewal Community Area. The
Airport does not qualify for this designation.
Application for Funding, 1998 Page 7 Yakima County SIED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
D. PRIVATE SECTOR COMMITMENT
D1. In order to show that a specific private investment is ready to occur, but will do so only if SIED assistance is
made available to the applicant, SIED requires a signed Contingency Agreement(s) between the
applicant and the private sector representative(s). If a developer is involved, there must also be a
signed Contingency Agreement between the developer and the proposed tenant.
D2. Describe the proposed private development or expansion project that will be supported by the public facility
project.
GE Aerospace continues to expand its presence in Yakima and Washington State as a result of the
Boeing 787 project and the overall strength of the global aviation market. The company recently
leased new facility space across 28th Avenue from its current operations. As a result of this expansion
road improvements to support employee mobility and efficient freight access are needed.
D3.
Name of private sector firm: GE Aerospace
Address: 2720 W. Washington Avenue, Yakima, 98909
Phone/Fax: 509-248-5000 x 365
Contact Person: Tim Whittlesey
04. Explain why the private development requires the proposed public infrastructure improvements
described in this application.
GE Aviation has expanded across a public street from its existing operation. Improving the street and
adding sidewalks, curbs and gutters will enhance safety for the company's employees, and improve
freight access for GE and other businesses in the area.
Application for Funding, 1998 Page 8 Yakima County SLED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
D5. List the number of projected jobs, by job type, to be retained and/or created by the firm as a direct
result of the public infrastructure project supporting the private development.
Jobs must be expressed in Full Time Equivalents (FTEs).
Wage data should exclude fringe benefits.
*Management positions should be indicated as an annual salary.
Job Description
Current # Of
Jobs Retained**
(In FTEs)
# Of Jobs
Created Year 1
(In FTEs)
# Of Jobs
Created by Year
3 (In FTEs)
Current or initial
Hourly Wages
Local
Occupational
Hourly Wages***
Mgmt./Admin*
21
$33.00
Technical/Prof.
51
$33.00
Office/Clerical
Production
183
14
$23.00
Sales
13
$35.00
Skilled Crafts
Others
6
$20.00
a) Number of Jobs **Retained _0
b) Projected annual gross payroll for all job classifications $23,000,000
c) How many of these positions are for seasonal work? (In FTE) 0
d) What kind of fringe benefits does the company offer to regular full time employees?
Vacation, sick pay, Holiday pay, Medical, Dental, vision, Pension and 401K
D6. Will this project displace existing jobs in any other part of the county? No
D7. How were job projections developed? Explain why the projections are realistic.
Jobs are needed to meet increased production demands.
Application for Funding, 1998 Page 9 Yakima County SIED Program
Yakima County SIED Board
Supporting Investments In Economic Diversification
D8. Will the private sector project offer expanded employment opportunities to disadvantaged or unemployed
workers? How will the firm work to hire people from Yakima County? There will be no further opportunities
than normal. Our company always tries to hire locally if possible.
D9. Indicate the construction schedule (if applicable) for the proposed private sector project.
(month/year)
Private Facility Construction Begins 11/04/07
Private Facility Construction Completed 11/12/07
Private Facility Operational 11/04/07
D10. List all permits required for the PRIVATE SECTOR PROJECT and give their current status (applied for,
application being prepared, permit issued, etc.) All permits were secured by the contractor.
PERMIT/ENVIROMENTAL
REVIEW ISSUER
NONE
STATUS
ANTICIPATED
COMPLETION
DATE
NOTE: ALL REQUIRED PERMITS TO COMPLETE THE PROJECT MUST BE SECURED
WITHIN SIX MONTHS OF A SIED OFFER OF FINANCIAL AID.
DI 1. What private authorizations remain prior to proceeding with the proposed private development project?
NONE
D12. Explain how the private sector is financing their capital investment in this project. When will private sector
financing be in place? Please list financial references that can verify financing sources and capacity for this
project.
Financing has been secured from our parent company prior to the project.
Application for Funding, 1998 Page 10 Yakima County SIED Program