Why this is a win for WSCC Public Facilities District Board
government
The Win
The board controls the building and would need to approve a sale. The case
for the board is fiscal survival: the PFD's reserves stand at $16.3M audited
as of December 2024, against $69M in annual operating losses. The sale does
two things simultaneously: it injects ~$150M in proceeds into reserves, and
it removes the Arch's ~$30M annual operating burden from SCC's books. Together
— reserve replenishment plus cost reduction — those two moves extend SCC's
runway by decades. Neither alone is sufficient; together they stabilize the
institution. The board was created to serve the public interest. A dark Arch
in a city that needs civic space is not serving the public interest.
Ask Your AI
Copy this prompt into ChatGPT, Claude, or any AI assistant.
I want to analyze this proposal from the perspective of WSCC Public Facilities District Board.
There's a civic proposal to convert the WSCC Arch building at 7th & Pike into a year-round public commons operated by Seattle Center.
The case being made to WSCC Public Facilities District Board: The board controls the building and would need to approve a sale. The case
for the board is fiscal survival: the PFD's reserves stand at $16.3M audited
as of December 2024, against $69M in annual operating losses. The sale does
two things simultaneously: it injects ~$150M in proceeds into reserves, and
it removes the Arch's ~$30M annual operating burden from SCC's books. Together
— reserve replenishment plus cost reduction — those two moves extend SCC's
runway by decades. Neither alone is sufficient; together they stabilize the
institution. The board was created to serve the public interest. A dark Arch
in a city that needs civic space is not serving the public interest.
The full proposal: https://commons.conventioncityseattle.com
What are the strongest arguments for and against, from WSCC Public Facilities District Board's perspective?
Know something about how WSCC Public Facilities District Board or other groups view this?
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