HomeMy WebLinkAbout1522 ResolutionAT
Eve
APP
Greg
ells, City Cl rk
, City Att orney
Ira L----Schmidt , _ayor Pro Tern
RESOLUTION NO
1522
A RESOLUTION of the City of Pasco supporting SJR 143 -
Community Redevelopment Financing
WHEREAS, there is a continued need for our communities to
eliminate central city blight and the deterioration of our
neighborhoods, and
WHEREAS, there is an absence of available financing mechanisms
to fund the provision of these capital facilities, and the corresponding
rehabilitation and redevelopment needs of cities, counties, and
towns, and
WHEREAS, certain types of capital projects result in increased
value of the surrounding property and increased private sector
Investments, and
WHEREAS, many other states have provided a mechanism, known
as Community Redevelopment Financing, where such capital facilities
can be financed by earmarking the increased property taxes resulting
from such new investment to pay off bonds issued to finance such
projects, and
WHEREAS, the 28 other states currently utilizing Community
Redevelopment Financing have met with a large measure of success
In each case, the promise of assured private development has made
possible extensive public improvements, as well as created thousands
of new jobs, and
WHEREAS, the 1982 Washington State Legislature approved Senate
Joint Resolution 143 amending the Washington State Constitution
to allow cities and towns to utilize Couimunity Redevelopment Financing,
and
WHEREAS, Senate Joint Resolution 143 will be voted upon this
November by voters in the State of Washington,
NOW, THEREFORE, BE 1T RESOLVED BY THE CITY OF PASCO, acting
by and through its City Council, that the City of Pasco supports
approval of SJR 143 to build stronger communities and create new
jobs for the citizens of Washington State
PASSED by the City Council of the City of Pasco at a regular
meeting on the 16 day of August , 1982