§ 43.160.230. Job development fund program
(1) The job development fund program is created to provide grants for public infrastructure projects that will stimulate job creation or assist in job retention. The program is to be administered by the board. The board shall establish a competitive process to request and prioritize proposals and make grant awards.
(2) For the purposes of chapter 425, Laws of 2005, "public infrastructure projects" has the same meaning as "public facilities" as defined in RCW 43.160.020(11).
(3) The board shall conduct a statewide request for project applications. The board shall apply the following criteria for evaluation and ranking of applications:
(a) The relative benefits provided to the community by the jobs the project would create, including, but not limited to: (i) The total number of jobs; (ii) the total number of full-time, family wage jobs; (iii) the unemployment rate in the area; and (iv) the increase in employment in comparison to total community population;
(b) The present level of economic activity in the community and the existing local financial capacity to increase economic activity in the community;
(c) Whether the applicant has developed and adhered to guidelines regarding its permitting process for those applying for development permits consistent with section 1(2), chapter 231, Laws of 2007;
(d) The rate of return of the state's investment, that includes the expected increase in state and local tax revenues associated with the project;
(e) The lack of another timely source of funding available to finance the project which would likely prevent the proposed community or economic development, absent the financing available under chapter 425, Laws of 2005;
(f) The ability of the project to improve the viability of existing business entities in the project area;
(g) Whether or not the project is a partnership of multiple jurisdictions;
(h) Demonstration that the requested assistance will directly stimulate community and economic development by facilitating the creation of new jobs or the retention of existing jobs; and
(i) The availability of existing assets that applicants may apply to projects.
(4) Job development fund program grants may only be awarded to those applicants that have entered into or expect to enter into a contract with a private developer relating to private investment that will result in the creation or retention of jobs upon completion of the project. Job development fund program grants shall not be provided for any project where:
(a) The funds will not be used within the jurisdiction or jurisdictions of the applicants; or
(b) Evidence exists that the project would result in a development or expansion that would displace existing jobs in any other community in the state.
(5) The board shall, with the joint legislative audit and review committee, develop performance criteria for each grant and evaluation criteria to be used to evaluate both how well successful applicants met the community and economic development objectives stated in their applications, and how well the job development fund program performed in creating and retaining jobs.
[2007 c 231 § 4; 2005 c 425 § 2.]
Notes:
Expiration date -- 2007 c 231 § 4: "Section 4 of this act expires June 30, 2011." [2007 c 231 § 8.]
Findings -- Recommendations -- Reports encouraged -- 2007 c 231: See note following RCW 43.155.070.
Finding -- 2005 c 425: "The legislature has and continues to recognize the vital importance of economic development to the health and prosperity of Washington state as indicated in RCW 43.160.010, 43.155.070(4)(g), 43.163.005, and 43.168.010. The legislature finds that current economic development programs and funding, which are primarily low-interest loan programs, can be enhanced by creating a grant program to assist with public infrastructure projects that directly stimulate community and economic development by supporting the creation of new jobs or the retention of existing jobs." [2005 c 425 § 1.]
Expiration date -- 2005 c 425: "This act expires June 30, 2011." [2005 c 425 § 6.]
Severability -- 2005 c 425: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [2005 c 425 § 7.]
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Last modified: April 7, 2009