H-3337.1 _______________________________________________
HOUSE BILL 2316
_______________________________________________
State of Washington 56th Legislature 2000 Regular Session
By Representatives Dunn, Ogden, Carlson, Edwards and D. Sommers
Prefiled 12/21/1999. Read first time 01/10/2000. Referred to Committee on Economic Development, Housing & Trade.
AN ACT Relating to clarifying the authority of the community economic revitalization board to make loans and grants to political subdivisions for public facilities; and amending RCW 43.160.060.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 43.160.060 and 1999 c 164 s 103 are each amended to read as follows:
The
board is authorized to make direct loans to political subdivisions of the state
for the purposes of assisting the political subdivisions in financing the cost
of public facilities, including development of land and improvements for public
facilities, project-specific environmental, capital facilities, land use,
permitting, feasibility(([,])), and marketing studies and plans;
project design, site planning, and analysis; project debt and revenue impact
analysis; as well as the construction, rehabilitation, alteration, expansion,
or improvement of the facilities. A grant may also be authorized for purposes
designated in this chapter, but only when, and to the extent that, a loan is
not reasonably possible, given the limited resources of the political subdivision
and the finding by the board that financial circumstances require grant
assistance to enable the project to move forward.
Application for funds shall be made in the form and manner as the board may prescribe. In making grants or loans the board shall conform to the following requirements:
(1) The board shall not provide financial assistance under any of the following situations:
(a)
For a project the primary purpose of which is to facilitate or promote a retail
shopping development or expansion((.));
(b)
For any project that evidence exists would result in a development or expansion
that would displace existing jobs in any other community in the state((.));
or
(c) For the acquisition of real property, including buildings and other fixtures which are a part of real property.
(2) The board shall only provide financial assistance in any of the following situations:
(a)
For those projects which would result in specific private developments or
expansions (i) in manufacturing, production, food processing, assembly,
warehousing, advanced technology, research and development, and industrial
distribution; (ii) for processing recyclable materials or for facilities that
support recycling, including processes not currently provided in the state,
including but not limited to, de-inking facilities, mixed waste paper,
plastics, yard waste, and problem-waste processing; (iii) for manufacturing
facilities that rely significantly on recyclable materials, including but not
limited to waste tires and mixed waste paper; (iv) which support the relocation
of businesses from nondistressed urban areas to rural counties or rural natural
resources impact areas; or (v) which substantially support the trading of goods
or services outside of the state's borders((.));
(b)
For projects which it finds will improve the opportunities for the successful
maintenance, establishment, or expansion of industrial or commercial plants or
will otherwise assist in the creation or retention of long-term economic
opportunities((.)); or
(c) When the application includes convincing evidence that a specific private development or expansion is ready to occur and will occur only if the public facility improvement is made.
(3) The board shall prioritize each proposed project according to:
(a) The relative benefits provided to the community by the jobs the project would create, not just the total number of jobs it would create after the project is completed and according to the unemployment rate in the area in which the jobs would be located; and
(b) The rate of return of the state's investment, that includes the expected increase in state and local tax revenues associated with the project.
(4) A responsible official of the political subdivision shall be present during board deliberations and provide information that the board requests.
Before any financial assistance application is approved, the political subdivision seeking the assistance must demonstrate to the community economic revitalization board that no other timely source of funding is available to it at costs reasonably similar to financing available from the community economic revitalization board.
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