WSR 07-15-090

OFFICE OF

FINANCIAL MANAGEMENT

[ Filed July 18, 2007, 10:23 a.m. ]

In accordance with RCW 90.58.030 (3)(e), the office of financial management (OFM) shall adjust the "substantial development" dollar threshold defined in the Shoreline Management Act every five years beginning July 1, 2007. The new dollar threshold shall be transmitted to the office of the code reviser for publication in the Washington state register at least one month before the new threshold takes effect.

Notice of Substantial Development Dollar Threshold



The Shoreline Management Act, chapter 90.58 RCW, was originally enacted in 1971. RCW 90.58.030 (3)(e) defines a "substantial development" to include any development of which the total cost or fair market value exceeds five thousand ($5,000) dollars. Chapter 230, Laws of 2002 (EHB 2623) requires the office of financial management to adjust this dollar threshold for inflation every five years, beginning July 1, 2007. The adjustment is to be based upon changes in the consumer price index for the urban areas of Seattle, Washington, during that five-year time period. The new dollar threshold shall be transmitted to the office of the code reviser for publication in the Washington state register at least one month before the new threshold takes effect.

In accordance with the requirements set forth above, the office of financial management submits for publication the new dollar threshold. The new dollar threshold is five thousand seven hundred and eighteen dollars ($5,718). The new dollar threshold takes effect September 1, 2007.

This new threshold was calculated as follows. Over the five-year period from June 2002 to June 2007, the Consumer Price Index for Urban Wage Earners and Clerical Workers for the Seattle-Tacoma-Bremerton, Washington area as reported by the Bureau of Labor Statistics, United States Department of Labor, increased by 14.4%. Increasing the total cost or fair market value threshold of five thousand dollars ($5,000) in RCW 90.58.030 (3)(e) by the rate of increase for the consumer price index results in an updated threshold of $5,718.

If you have any questions or need further information, contact Jim Schmidt.

Roselyn Marcus

Director of Legal Affairs

Washington State Code Reviser's Office