HomeMy WebLinkAboutR-1031 - Endorsing State-wide legislation for community redevelopment financingXG~c;t~It~~....,
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CIT Y 0 F MAR Y S V ILL E
Marysville,Washington
RESOLUTION NO./()31
A RESOLUTION OF THE CITY OF MARYSVILLE ENDORSING
STATE-WIDE LEGISLATION FOR COMMUNITY REDEVELOPMENT
FINANCING
WHEREAS,by Resolution 1011 the City of Marysville identified
urban blight in its.central ,business district and created an urban
renewal agency to study this problem and to develop and implement an
urban renewal plan for the City;and
,.
WHEREAS,Chapter 35.81.RCW requires a municipality to afford
the maximum opportunity for the 'rehabilitation and redevelopment of
blighted areas by private enterprise;and
I 'r I I ~,
-WHEREAS,there presently are no consti tutional or statutory
methods'by which a municipality can offer financial inducements to pri-
vate enterprise to make investments for the rehabilitation and redevelop-
ment of "blighted ,urban areas;and
I .'
WHEREAS,other jurisdictions within the United States have
successfully met this 'problem by use of growth increment financing or
"community redevelopment financing",whereby increased property taxes
attributable to urban redevelopment are committed exclusively to the
repayment of municipal bonds issued for the purpose of financing such
redevelopment;NOW,THEREFORE,
IT IS HEREBY RESOLVED by the City Council of the City of
Marysville,Washington,as follows:
The Washington State Legislature is strongly urged to intro-
duce and enact legislation providing for community redevelopment financ-
ing,and to make such legislation a priority at its 1982 session.
~~~PASSE~the City Council and APPROVED by the Mayor this
~day of ~iU_'E."'L..:'I>7""t1.lit:.G""~'£I--'1981.
By
THE
-/
MAYOR
:Q~~m:
CITY ATT NEY
Approved as to