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