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PDFWAC 365-135-090

Criteria for reallocation of recovery zone economic development bonds.

In accordance with the intent of the code and state priorities, the following criteria will be used to prioritize reallocation requests by the department:
(1) The relative level of economic distress in the local community.
(2) The number of citizens benefiting from the project.
(3) The estimated positive economic impact of the project on the state or the local community.
(4) The number of jobs created or retained by the project and the amount of recovery zone economic development bond authority per job created or retained.
(5) The readiness of the project to proceed.
(6) The likelihood that the issuer will use the allocation within the timelines.
(7) The amount of other public and private funding leveraged by the recovery zone economic development bond allocation.
(8) The amount of local community support for the project.
[Statutory Authority: Chapter 39.86 RCW, Executive Order 09-06, Federal American Recovery and Reinvestment Act of 2009, and Section 301(a) of Tax Extenders and Alternative Minimum Tax Relief Act of 2008, Division C of Pub. L. 110-343. WSR 10-07-128, ยง 365-135-090, filed 3/23/10, effective 4/23/10.]
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