Form revised May 5, 2009

FISCAL NOTE FOR CAPITAL PROJECTS ONLY

Department:	Contact Person/Phone:	DOF Analyst/Phone:
Parks and Recreation	Donald Harris / 684-8018	Jennifer Devore / 615-1328

Legislation Title:

AN ORDINANCE relating to the Department of Parks and Recreation; authorizing the acquisition of a conservation easement on property located in the Maple Leaf neighborhood and commonly known as Waldo Woods; authorizing acceptance of the deed of conservation easement for open space purposes; increasing appropriations to the Department of Parks and Recreation in the 2010 Budget; all by a three-fourths vote of the City Council.

Summary and background of the Legislation:

The proposed legislation authorizes the acquisition of a conservation easement on a wooded portion of the historic Waldo Hospital property in the Maple Leaf neighborhood of northeast Seattle (Waldo Woods) for $300,000 and increases the appropriation in the 2010 Adopted Budget.

Waldo Woods is located on the former grounds of the region's first osteopathic hospital, opened in 1924 by Dr. William Waldo.  About six years after Dr. Waldo's death in 1962, Camp Fire USA of Central Puget Sound bought the property and used the former hospital as its headquarters.  Three years ago, Camp Fire USA was in talks with Prescott Development, which wanted to buy the site to build townhomes.  The proposed development would have cut a swath of trees in the 85-year-old grove.  Ultimately, Prescott Development decided not to acquire the property.

Meanwhile, The Maple Leaf Community Council sought funds from King County and contributions from the community to preserve Waldo Woods as open space.  The King County Council subsequently awarded $300,000 for the “Waldo Woods Conservation Easement” project in the 2009 Conservation Futures Levy allocations (“CFL”) list of Seattle Projects Funded.

In 2009, the Waldo Hospital property was acquired by the Menachem Mendel Seattle Cheder, a private school.  The school desires to protect the trees and is willing to sell a conservation easement to the City of Seattle for the amount of the CFL funding.  The difference between the fair market value of the conservation easement and the purchase price ($300,000) will provide the 50% match required to receive CFL reimbursement for the purchase.

Project Name:	Project I.D.	Project Location:	Start Date:	End Date
Waldo Woods Conservation Easement	Project K730011	Maple Leaf	September, 2009	April, 2010

· Please check any of the following that apply:

____ This legislation creates, funds, or anticipates a new CIP Project. (Please note whether the current CIP is being amended through this ordinance, or provide the Ordinance or Council Bill number of the separate legislation that has amended/is amending the CIP.)

____ This legislation does not have any financial implications. (Stop here and delete the remainder of this document prior to saving and printing.)

__X__ This legislation has financial implications. (Please complete all relevant sections that follow.) 

Appropriations:  

Fund Name and Number	Department	Budget Control Level*	Existing 2010 Appropriation	New 2010 Appropriation (if any)	2011 Anticipated Appropriation
2008 Parks Levy Fund (33860)	Parks and Recreation	2008 Parks Levy – Green Space Acquisition K720011		$300,000
TOTAL				$300,000

Notes:  The funds for the purchase of the conservation easement will initially come from the 2008 Parks Levy, the Green Space Acquisition Fund.  The money will be reimbursed by an already awarded, but not yet received, King County Conservation Futures Levy grant.

Spending Plan and Future Appropriations for Capital Projects:

Spending Plan and Budget	2010	2011	2012	2013	2014	2015	Total
Spending Plan
Current Year Appropriation	$300,000						$300,000
Future Appropriations

Notes:

Funding source:

Funding Source (Fund Name and Number, if applicable)	2010	2011	2012	2013	2014	2015	Total
Conservation Futures Levy Grant	$300,000						$300,000
TOTAL	$300,000						$300,000

Notes:

Bond Financing Required:  N/A

Type	Amount	Assumed Interest Rate	Term	Timing	Expected Annual Debt Service/Payment
TOTAL	N/A	N/A	N/A	N/A	N/A

Uses and Sources for Operation and Maintenance Costs for the Project: N/A

O&M	2010	2011	2012	2013	2014	2015	Total
Uses
Start Up
On-going
Sources (itemize)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Notes: The City has no obligations under the conservation easement that would require O&M costs.  Public access will be limited and stewardship of the forest will be undertaken by a community stewardship organization, as specified in the conservation easement agreement.

DPR staff will make an annual visit to the site to ensure that the provisions of the easement are being met – that the trees are still standing. 

Periodic Major Maintenance costs for the project: N/A

Major Maintenance Item	Frequency	Cost	Likely Funding Source
TOTAL	N/A	N/A	N/A

Funding sources for replacement of project:  The project is the purchase of a conservation easement; as such, there would be no replacement costs.

Total Regular Positions Created, Modified, Or Abrogated Through This Legislation, Including FTE Impact:  N/A

Position Title and Department*	Position # for Existing Positions	Fund Name & #	PT/FT	2009 Positions	2009 FTE	2010 Positions**	2010 FTE **
TOTAL	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Notes:

· Do positions sunset in the future?  N/A

· What is the financial cost of not implementing the legislation? The City would forgo the $300,000 CFL grant from King County if this legislation is not adopted.

· Does this legislation affect any departments besides the originating department?  No

· What are the possible alternatives to the legislation that could achieve the same or similar objectives?  No alternatives have been identified, other than foregoing the reimbursement or abandoning the project.

· Is the legislation subject to public hearing requirements?  No

· Other Issues: There has been strong community support for preserving Waldo Woods from development.  Purchasing the conservation easement with CFL funds, with the match coming from Menachem Mendel Seattle Cheder is the only viable solution that has emerged.

Please list attachments to the fiscal note below:

None