_______________________________________________
SUBSTITUTE
SENATE BILL 5400
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Passed
Legislature - 2002 Regular Session
State
of Washington 57th Legislature 2001 Regular Session
By
READ
FIRST TIME 02/22/01.
Clarifying that the community economic revitalization
board may make loans and grants to federally recognized Indian tribes.
AN
ACT Relating to clarifying the authority of the community economic
revitalization board to make loans and grants to political subdivisions and
federally recognized Indian tribes 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
and to federally recognized Indian tribes for the purposes of assisting
the political subdivisions and federally recognized Indian tribes 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 or the federally recognized
Indian tribe 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:
(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.
(c)
For the acquisition of real property, including buildings and other fixtures
which are a part of real property.
(d)
For a project the primary purpose of which is to facilitate or promote
gambling.
(2)
The board shall only provide financial assistance:
(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.
(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 or the federally
recognized Indian tribe shall be present during board deliberations and
provide information that the board requests.
Before
any financial assistance application is approved, the political subdivision or
the federally recognized Indian tribe 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.
