SB 5678 - DIGEST

Provides that all cities, towns, and counties may engage in economic development activities or programs. In order to meet its economic development goals and objectives, any city or town or instrumentality thereof is authorized, within its governmental or proprietary capacity as determined by the legislative authority, to: (1) Own and operate industrial and commercial parks, and developments, and mixed use developments containing industrial and commercial facilities, and in the exercise of such power shall have the right to sell, lend, transfer, exchange, lease, or otherwise dispose of related lands, buildings, and facilities to any state, province, or any political subdivision or instrumentality thereof, or the federal government or any Indian tribe, or to any other public or private person or entity;

(2) Engage in programs to attract and retain businesses and commercial enterprises, and develop and fund programs for job training, retraining, and retention;

(3) Form nonprofit corporations and participate in the formation or be members of joint ventures, partnerships, limited liability companies, and all other forms of business enterprises consistent with the provisions of Article VIII, section 7 of the Washington state Constitution;

(4) Develop, construct, and operate infrastructure and public facilities;

(5) Transfer or loan to the state, any city, county, special purpose district, public development authority, or other political subdivision or instrumentality thereof, or the federal government or any Indian tribe, with or without consideration, any funds, real or personal property, property interests, or services;

(6) Contract with for-profit and nonprofit corporations or other entities in furtherance of this and other acts relating to economic development; and

(7) Take such actions and engage in such activities as may be otherwise permitted by law.