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HomeMy WebLinkAbout2365 Resolution01 . RESOLUTION NO. D3 G___< A RESOLUTION concerning economic development assistance in Franklin County WHEREAS, the State of Washington has provided economic development incentives for economically distressed counties of the State, thereby fostering improved economies of the communities in those counties as well as improving the welfare of the citizenry within the economically distressed counties, and WHEREAS, the 1997 Legislature, acting through SSSB 5740, created an additional incentive for economic development within distressed counties by authorizing such counties to divert a small fraction of the State's portion of the retail sales and use tax already in place within economically distressed counties, and WHEREAS , the portion of State sales tax permitted to be diverted is equivalent to 04 percent retail sales and use tax in all applicable transactions within the county, initially representing approximately $220,000 annually for Franklin County, and WHEREAS, such funds may be used for the development of public facilities which will aid economic development within the distressed counties, and WHEREAS, the opportunity presented by SSSB 5740 to benefit the citizens of Franklin County should be fully utilized by Franklin County's exercise of the tax diversion authority, and WHEREAS, a substantial majority of the Franklin County citizens who are unemployed or under-employed reside within the City of Pasco, and WHEREAS, the City of Pasco has pursued an aggressive economic development strategy for 10 years in its effort to both stimulate the local economy and improve the welfare of its citizenry, through substantial investment in public facilities accommodating and facilitating significant private investment in the creation of new plants, enterprises, and local job opportunities, and WHEREAS, Franklin County should consider the economic development needs of each of the communities throughout Franklin County before it allocates the additional sales tax revenue for economic development purposes, NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO RESOLVE AS FOLLOWS Section 1. That the Franklin County Board of Commissioners is hereby urged to enact the diversion of the State sales tax fraction authorized by SSSB 5740 for purposes of economic development assistance within Franklin County Section 2. That the Franklin County Board of Commissioners is hereby further urged to establish an advisory committee composed of representatives from each of the four local governments within the county and the port district(s) within the county, so as to be fully apprised of the economic development needs and priorities throughout Franklin County Charles D. Ktlbury, Jr , ...., PASSED by the City Council of the City of Pasco at a regular meeting this ---L-- - day of March, 1998 ATTEST: Catherine D Seaman, Deputy City Clerk APPROVED AS TO FORM: Leland B. Kerr, City Attorney A Resolution concerning economic development assistance in Franklin County Page 2