“Tacoma City CouncilStudy SessionNoon, Tuesday August 1, 2000Room 16, Municipal Bldg. N.728 St. Helens AvenueTacomaConvention CenterSteve Marcotte, assistant finance director, will discuss the convention center interim financial plan arrangement with Banc of America Securities. Mike Combs, director of Public Facilities, will present a project overview. Charlie Solverson, project engineer for Public Works, will discuss the next step in a series of design studies and negotiations for the center.Budget UpdateBudget Director Judith Shoudy will update the Council on preparation of the 2001-2002 General Fund budget, including the latest revenue projections and expense gap.Shoudy will provide an overview of statewide initiatives 722 and 744. If the initiatives pass, they may have a drastic impact on the City’s budget.Tacoma City CouncilCouncil Meeting5:00 p.m., Tuesday August 1Room 16, Municipal Bldg. N.728 St. Helens AvenueTacomaCostco PurchaseThe Council will vote on a resolution to spend $100,000 toward the purchase of the current Costco store at 3639 South Pine Street. The funds would lock in a negotiated purchase price of $6.5 million while the city explores financing options and decides whether the building could house a number of municipal functions, including police headquarters.Downtown ParkingThe Council will vote on using a design-build process to expand parking in the downtown core. The expansion would add 1,000 parking places most likely through renovation of existing parking lots and garages.The design-build process involves hiring a company that both designs and builds the project. The City believes this process is more efficient and less costly.Checking MethAn ordinance up for a vote at this meeting would limit the quantity of certain over-the-counter medications sold during a 24-hour period.The ordinance would restrict large-quantity sale of over-the-counter pseudo-ephedrine medication. Pseudo-ephedrine produces ephedrine, a key ingredient used in the manufacture of methamphetamine.Washington State is the nation’s second-largest producer of meth labs. The state Department of Ecology, which cleans up materials from identified labs, made nearly 50 percent of its calls in Pierce County last year.Convention Center FundingThe City would gain access to as much as $40 million for partial funding of the Greater Tacoma Convention Center, according to a proposed financing agreement. The agreement operates similar to a letter of credit.The proposed convention center project encompasses nearly 189,000 square feet of convention space, plus a 400-room hotel, apartments, retail stores and additional parking.”