Community Economic Revitalization Board.  The Community Economic Revitalization Board (CERB) was formed in 1982 to respond to local economic development in Washington communities.  CERB provides funding in the form of low-interest loans and grants to local governments and federally recognized tribes for public infrastructure projects supporting private sector development.

CERB consists of 20 members, four of which are state legislators, representing private and public sectors from across the state.  CERB sets policy and selects projects to receive financing assistance.  The Department of Commerce provides administrative support to CERB.

Community Economic Revitalization Board Rural Broadband Program.  In 2018, the Legislature provided CERB with $10 million to administer grants and loans for infrastructure for high-speed, open-access broadband service with a minimum of 25 megabits per second download speed in rural and underserved counties and communities for the purpose of economic development or community development.  The following biennium, the 2019-2021 capital budget provided $3.45 million to continue broadband projects funded from the 2017–19 appropriations.

Besides the requirement that the project be located in a rural and underserved community, the loan is limited to $2 million maximum per project.  Grants are available up to 50 percent of the total award, determined by the underwriting process and debt service coverage ratio.

Rural Broadband Program projects cannot result in retail development; gambling; job displacement from one part of the state to another; be located outside the jurisdiction of the applicant; for the deployment of publicly owned telecommunication network infrastructure solely for its sake; or for certain equipment or facilities which the entity is not currently authorized by statute to provide.

An appropriated loan and grant program is created under the authority of CERB for financing broadband infrastructure projects. 

Local governments and federally recognized tribes may apply to CERB for financing to build infrastructure for high speed, open-access broadband service.  To qualify for financing, a project's purpose must be economic or community development.  Each application must be approved by the local government and supported by the local associate development organization, the local workforce council, or by the governing body of the federally recognized tribe before being considered.  Grants cannot make up more than 50 percent of the award. 
 
Approved projects for CERB's broadband infrastructure program must:

• drive job creation, promote innovation, and expand markets for local businesses; or
• serve the ongoing and growing needs of local education systems, public safety systems, industries, businesses, government operations, and citizens.

Projects will not be approved if they promote or facilitate gambling. 

When evaluating and prioritizing projects, CERB must give consideration to each project's:

• value to the community, including evidence of support from affected local business and government;
• feasibility;
• commitment of local matching resources and participation;
• inclusion in a capital facilities plan, comprehensive plan, or local economic development plan consistent with applicable state planning requirements; and
• readiness to proceed.

Every local government and federally recognized tribe seeking financial assistance must demonstrate that no other timely source of funding is available at similar cost.