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Revenue Development Area

Washington State has enacted new legislataion creating the Local Infrastrcuture Financing Tool (LIFT; see Engrossed Second Substitute House Bill 2673, Chap. 181, Laws of 2006).  The LIFT Legislation authorizes a local government to pass an ordinance creating a Revenue Development Area ("RDA") within which certain public infrastructure improvements may be financed through the allocation of various property and excise taxes.  By creating an RDA as proposed, Everett can apply for a State contribution of up to $1,000,000 per year for 25 years to be used for repayment of bonds issued to finance eligible public improvements within the RDA.

Background Documents

 

House Bill 2673

Link

Notice of Public Hearing

Link

Process Documentation Summary

Link

RDA Impact Analysis

Link

RDA Ordinance

Link

RDA Public Improvements

Link

 

 

 

 
Contact Info:
Brian Jones, manager
Engineering Services
3200 Cedar Street
Everett, WA 98201
T: 425-257-8922
F: 425-257-8856
E:

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