2005 Washington Revised Code RCW 39.102.040: Application process — Board approval. (Expires June 30, 2039.)

(1) Prior to applying to the board to use local infrastructure financing, a sponsoring local government shall:

     (a) Designate a revenue development area within the limitations in RCW 39.102.060;

     (b) Certify that the conditions in RCW 39.102.070 are met;

     (c) Complete the process in RCW 39.102.080;

     (d) Provide public notice as required in RCW 39.102.100; and

     (e) Pass an ordinance adopting the revenue development area as required in RCW 39.102.090.

     (2) Any local government that has created an increment area under chapter 39.89 RCW that has not issued bonds to finance any public improvement shall be considered a revenue development area under this chapter without creating a new increment area under RCW 39.102.090 and 39.102.100 if it amends its ordinance to comply with RCW 39.102.090(1) and otherwise meets the conditions and limitations under this chapter.

     (3) As a condition to imposing a sales and use tax under RCW 82.14.475, a sponsoring local government, including any cosponsoring local government seeking authority to impose a sales and use tax under RCW 82.14.475, must apply to the board and be approved for a project award amount. The application shall be in a form and manner prescribed by the board and include but not be limited to information establishing that the applicant is an eligible candidate to impose the local sales and use tax under RCW 82.14.475, the anticipated effective date for imposing the tax, the estimated number of years that the tax will be imposed, and the estimated amount of tax revenue to be received in each fiscal year that the tax will be imposed. The board shall make available forms to be used for this purpose. As part of the application, each applicant must provide to the board a copy of the ordinance or ordinances creating the revenue development area as required in RCW 39.102.090. A notice of approval to use local infrastructure financing shall contain a project award that represents the maximum amount of state contribution that the applicant, including any cosponsoring local governments, can earn each year that local infrastructure financing is used. The total of all project awards shall not exceed the annual state contribution limit. The determination of a project award shall be made based on information contained in the application and the remaining amount of annual state contribution limit to be awarded. Determination of a project award by the board is final.

     (4) Sponsoring local governments, and any cosponsoring local governments, must submit completed applications to the board no later than July 1, 2007. By September 15, 2007, in consultation with the department of revenue and the department of community, trade, and economic development, the board shall approve qualified projects, up to the annual state contribution limit. Except as provided in RCW 39.102.050, approvals shall be based on the following criteria:

     (a) The project potential to enhance the sponsoring local government's regional and/or international competitiveness;

     (b) The project's ability to encourage mixed use development and the redevelopment of a geographic area;

     (c) Achieving an overall distribution of projects statewide that reflect geographic diversity;

     (d) The estimated wages and benefits for the project is greater than the average labor market area;

     (e) The estimated state and local net employment change over the life of the project;

     (f) The estimated state and local net property tax change over the life of the project; and

     (g) The estimated state and local sales and use tax increase over the life of the project.

     (5) A revenue development area is considered created when the sponsoring local government, including any cosponsoring local government, has adopted an ordinance creating the revenue development area and the board has approved the sponsoring local government to use local infrastructure financing. If a sponsoring local government receives approval from the board after the fifteenth day of October to use local infrastructure financing, the revenue development area is considered created in the calendar year following the approval. Once the board has approved the sponsoring local government, and any cosponsoring local governments, to use local infrastructure financing, notification shall be sent to the sponsoring local government, and any cosponsoring local governments, authorizing the sponsoring local government, and any cosponsoring local governments, to impose the local sales and use tax authorized under RCW 82.14.475, subject to the conditions in RCW 82.14.475.

[2006 c 181 § 202.]