Fisher Investments plans for two new buildings

Fisher Investments is taking steps to move forward on construction of two additional buildings on its Fisher Creek Campus in northwest Camas.

Mayor Pro-tem Scott Higgins announced during last night’s City Council meeting that the Fortune 500 company recently contacted the city about expediting the construction approval process for two new 30,000 square foot buildings on the 120-acre site located near 38th Avenue and Parker Street. Higgins said that the company’s current plans are to get the first building constructed before the end of the year, and use 10,000 square feet of it to house its information technology department and employees.

Higgins, who has assumed the daily responsibilities of mayor since the resignation of Paul Dennis on May 31, said the announcement was welcome news during the first week in his temporary position — a position he will fulfill until the City Council appoints a permanent replacement.

“I found that very exciting on my first day of doing those duties,” said Higgins, who has filed for election to the mayor’s seat. “No development agreements are needed. It is simply part of their plan.”

A time line to construct the other proposed 30,000 square foot building has not been determined, he said.

In October 2010 construction crews broke ground on the first five-story building on the property that is part of the $30 million office complex project, with plans to bring 1,500 jobs to the region. Slated to be occupied by September, the first four floors will be filled by the 325 workers from Fisher Investments’ east Vancouver satellite office that opened in 2007.

Camas is also being considered by the company, a $43 billion money management firm, as a site for its corporate relocation from Woodside, Calif.

Ken Fisher, the founder, chairman and CEO of Fisher Investments, was in Vancouver this morning speaking during a luncheon hosted by the Greater Vancouver Chamber of Commerce and the Columbia River Economic Development Council.

Fisher is the author of seven books, including four best sellers. He has also written the monthly Forbes “Portfolio Strategy” column for 26 years. In 2010, Investment Advisor magazine named Fisher one of the 30 most influential industry individuals in the last 30 years.

In related news, last night the City Council also gave approval for its attorney to prepare a resolution for adoption on June 20 of a development agreement with APC Sunrise Summit, LLC; Matthew R. and David R. Lugliani; and Fisher Creek Campus, LLC.

The agreement stipulates that the three private entities would front the money to support the cost of design, engineering and permitting for the city’s 38th Avenue transportation corridor improvement project. The city has applied for a State Public Works Trust Fund loan and received federal grants to finance the project.

According to the agreement, “Fisher and APC wish to move forward with design and permitting of the project ahead of work done under the grant or loan with the intent to expedite the design and permitting process and accelerate the time in which construction by the City may occur.”

Fisher and APC are expected to qualify for $425,000 in Transportation Impact Fee credits in accordance with city ordinances.

“The collective amount of TIF credits issued to APC and Fisher shall not exceed the total amount of TIF credits otherwise eligible to be issued under the city’s [Capital Facilities Plan].”