Local Revitalization Financing Project Application Now Available
Olympia, Wash., July 2, 2009 — Application forms are now available for seven Local Revitalization Financing demonstration projects authorized by the Legislature.
The seven projects, which are eligible for awards totaling $2.25 million annually for up to 25 years, are in Bremerton, Auburn, University Place, Spokane, Whitman County, Tacoma, and Vancouver. In order to receive the money, the jurisdictions still have to complete certain steps outlined in the application, which is available here. The completed applications must be filed by Sept. 1.
The requirements outlined in the demonstration project application also can serve as a model for local governments that are expected to submit proposals for a second, first-come, first-served phase of the awards to begin Sept. 1, project administrator James Petit said.
Second Substitute Senate Bill 5045 allocated an additional $2.5 million to be made available annually, with maximum individual grants of $500,000. Applicants cannot apply for these awards until Sept. 1, and the formal application for this phase is scheduled to be available Aug. 15.
The Local Revitalization Financing program authorizes cities and counties to create “revitalization areas” and allows the state to contribute toward the payment of bonds issued for financing local public improvements within the revitalization area.
For more information, applicants may contact Petit at (360) 902-7037 or email@example.com.
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