HomeMy WebLinkAbout07/15/2008 15 REET 1 and REET 2 Project Funding Plan - Public Hearing; Comprehensive Plan Amendment •
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. )` /5
For Meeting ofJuly 15, 2008
ITEM.TITLE: Set Date of Public Hearing for August 5, 2008, at 7:00 p.m. to consider the First
and Second Quarter Percent Real Estate Excise Tax (REET 1 and REET 2) project funding
plan, consistent with and Amending the Yakima Capital Facilities Element of the
Comprehensive Plan, as authorized by RCW 36.70A.130.
SUBMITTED BY: William R. Cook, Director of Community and Economic Development Dept.
Cindy Epperson, Deputy Director of Accounting and Budgeting
CONTACT PERSON/TELEPHONE: William R Cook, Director of Community & Economic
Development Department, (509) 575 -6113
SUMMARY EXPLANATION:
The City of Yakima collects revenue from the First and Second Quarter Real Estate Excise Tax
(REET 1 and REET 2), as provided for in RCW 82.46.010 and RCW 82.46.035. The use of
these funds is constrained to projects properly identified in the Capital Facilities Element of the
Comprehensive Plan. To ensure consistency with the use of REET funds and the Capital
Facilities Element, an amendment to the Yakima Capital Facilities Element of the
Comprehensive Plan as authorized by RCW 36.70A.130, is hereby set for Public Hearing and
Council consideration at 7:00 p.m. on August 5, 2008.
Resolution Ordinance Other (Specify)
Contract Mail to (name and address):
Phone:
Funding Source
APPROVED FOR SUBMITTAL:
City Manager
STAFF RECOMMENDATION: Set date of public hearing for August 5, 2008 at 7:00 p.m.
BOARD / COMMISSION /COMMITTEE RECOMMENDATION:
COUNCIL ACTION: