File #: 2004-0207    Version:
Type: Ordinance Status: Passed
File created: 4/19/2004 In control: Budget and Fiscal Management Committee
On agenda: Final action: 6/1/2004
Enactment date: 6/14/2004 Enactment #: 14921
Title: AN ORDINANCE relating to real estate asset management and major capital projects development, establishing a real estate and major capital projects review joint advisory group to facilitate coordination and communication between the executive and council; and adding a new chapter to K.C.C. Title 4.
Sponsors: Larry Gossett, Larry Phillips
Indexes: Administration, Budget, Commissions, Committees, Executive Branch, Planning, Property
Code sections: 2 - , 2.16.035 -
Attachments: 1. Ordinance 14921.pdf, 2. 2004-0207 Attachment 4 to 5-26 -04 Staff Report.pdf, 3. 2004-0207 Revised Staff Report 05-26-04.doc, 4. 2004-0207 Staff Report 04-28-04, 5. 2004-0207 Staff Report 05-05-04, 6. 2004-0207 Staff Report 05-26-04.doc, 7. Attachment 5 to 4-28-04 Staff Report
Drafter
Clerk 05/27/2004
title
AN ORDINANCE relating to real estate asset management and major capital projects development, establishing a real estate and major capital projects review joint advisory group to facilitate coordination and communication between the executive and council; and adding a new chapter to K.C.C. Title 4.
body
PREAMBLE:
The King County budget office projected a thirty-six-million-dollar imbalance in 2002 between ongoing current expense revenues and ongoing base expenditures, which was produced by a need to backfill fourteen million dollars of one time revenues that were unavailable in 2002 and an additional twenty-two million dollars shortfall due to annual growth in expenditures such as wages and benefits that exceeded annual growth in revenues.
King County is projected to have one hundred fifty-eight million dollars in shortfalls between 2002 and 2006.
The metropolitan King County council supported in 2002 a thorough review and cost-benefit analysis of possible efficiencies to provide resources necessary to provide county services and make the best use of county revenues and resources. Due to the projected impacts of ongoing shortfalls in future years, the council wished to evaluate real property resources to ensure that county assets were being put to the highest and best use and that criteria were developed to evaluate the holding of county assets.
The King County council established the properties expert review task force (PERT) in Ordinance 14106 and tasked that body with the proposal of criteria for decision making with regard to county owned real property and capital asset management. The PERT review covered asset acquisition, management, disposition, as well as recommendations about King County code changes, staffing resources and potential contracting that might help the county implement an improved asset management system.
The PERT report recommended the creation of a real estate cabinet that would include members...

Click here for full text