HomeMy WebLinkAbout05/13/2008 08 Yakima Sawmill Redevelopment Project LIFT Revenue Development Area - Set Public Hearing Date BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No.
For Meeting of May 13, 2008
ITEM TITLE: Set a Public Hearing date of June 10, 2008 to receive public comment
regarding the Yakima Sawmill Redevelopment Project Local
Infrastructure Financing Tool (LIFT) Revenue Development Area
Ordinance and Application.
SUBMITTED BY: William R. Cook, Director
Department of Community and Economic Development
CONTACT PERSON /TELEPHONE: Michael A. Morales, Deputy Director CED
SUMMARY EXPLANATION:
The Department of Community and Economic Development is preparing an application for state
funding through the Local Infrastructure Financing Tool (LIFT) program for public infrastructure
improvements related to the redevelopment of the former Boise Cascade /Yakima Resources sawmill
and plywood plant area.
The LIFT program is a form of tax increment financing that provides for a share of the state's sales tax
revenue related to a specific development site, known as a Revenue Development Area (RDA). The
city is required to designate the RDA by ordinance prior to the application, and must hold a public
hearing on the proposed ordinance. The application deadline is June 30, 2008, and staff respectfully
requests that the council set this hearing for June 10, 2008 at 7:00 p.m..
Resolution _ Ordinance _ Contract Other (Specify) Set Public Hearing Date
Funding Source
APPROVED FOR SUBMITTAL: �� --S 4
City Manager
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STAFF RECOMMENDATION: Set Public Hearing for June 10, 2008 at 7:00 p.m.
BOARD /COMMISSION RECOMMENDATION:
COUNCIL ACTION:
1 -- May 8, 2008