HomeMy WebLinkAboutR-2004-183 Expanding the Yakima Renewal Community BoundariesRESOLUTION NO. R-2004-183
A RESOLUTION expanding the boundaries of the Yakima Renewal Community to include
Census Tracts 03 and 07.
WHEREAS, economic development is a priority of the City of Yakima, and the City
intends to approach economic development on a comprehensive basis involving public, private
and community-based efforts to achieve new investment and redevelopment in the City; and
WHEREAS, census tracts 01, 02, 06 and 15 of the City have been formally designated a
Renewal Community under the Empowerment Zones and Renewal Communities Initiative by
the federal government; and
WHEREAS, the Renewal Communities Program provides tax incentives to qualifying
business activities, including wage credits, increased Section 179 Deduction, Zero Capital Gains,
and the Commercial Revitalization Deduction; and
WHEREAS, HR 4520 (Section 222) passed by the United States Congress allows for the
expansion of Renewal Community boundaries to include contiguous census tracts that meet
certain economic criteria, including: 1) an unemployment rate that 150% of the national average
in the 1990 and 2000 census, and 2) poverty in excess of 20% in the 2000 census, and that
increased from the 1990 to 2000 census; and
WHEREAS, the City of Yakima has determined that census tracts 03 and 07 meet this
criteria, and that the prospective amended area is one of pervasive poverty, unemployment, and
general distress; and
WHEREAS, the City of Yakima acknowledges its obligation to carry out its local
commitments, including the course of action and the economic growth promotion requirements,
and the tax incentive utilization plan (TIUP) throughout the RC, including the additional census
tracts, and
WHEREAS, the City Council finds it is in the best interests of the City of Yakima to
approve expansion of the Renewal Community boundaries to include Census Tracts 03 and 07;
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:.
The City Council approves the attached map expanding the Yakima Renewal Communities to
include Census Tracts 03 and 07.
ADOPTED BY THE CITY COUNCIL this 7th day of December, 2004
Paul George, Mayor
ATTEST:
City Clerk
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City of Yakima
Renewal Community
Census Tracts
City Limits
Census Tracts
Renewal Community
Tracts
Proposed Addition
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Scale —lin = 2000ft
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Created: December 07, 2004
ITEM TITLE:
SUBMITTED BY:
CONTACT:
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No.
For Meeting Of December 7, 2004
Public Hearing and consider approval of a resolution expanding the
Yakima Renewal Community boundaries to include Census Tract 03.
Michael Morales, Economic & Community Affairs Specialis
Michael Morales, 575-3533
SUMMARY EXPLANATION:
The boundaries of City of Yakima Renewal Community (RC) have become eligible for
expansion due to a provision in the federal tax bill passed by Congress last month. Upon
reviewing the language of the law with staff at HUD's Washington, DC headquarters, we have
determined that Census Tract 03 is now eligible to be included in the RC. Eligibility is based on
a combination of 1990 and 2000 census data related to poverty and unemployment. The attached
map of the Renewal Community tracts shows this new area in gray.
The purpose of the public hearing is to ensure that the public is fully informed of this boundary
change. Approval of the resolution would allow commercial construction projects from Census
Tract 03 completed in 2004 to be eligible for this year's allocation of Commercial Revitalization
Deduction.
Resolution _X _ Ordinance Contract _ Other: Public Hearing
Approval for Submittal:
City Manager
STAFF RECOMMENDATION:
BOARD RECOMMENDATION: Economic Development Committee recommends
expanding the RC.
COUNCIL ACTION:
1