HomeMy WebLinkAbout2021RESOLUTION NO. 2O2L
A RESOLUTION of the City Council of the
City of Kent, Washington, authorizing participation
in the main street tax incentive program with the
Kent Downtown PartnershiP.
RECITALS
A. The Kent Downtown Partnership is a Certified Main Street
Program with the Washington State Main Street Program and is
participating in the Main Street Tax Incentive Program ("Program").
B, The Program was enacted in 2005, and the provisions relating
to the tax incentive program are located in Chapter 82.73 RCW. Pursuant
to the RCW, the City is a qualified taxpayer and may participate in the tax
incentive program.
C, The Program allows entities, including municipal corporations,
who make contributions to the designated Main Street Program participant
to take a 75o/o tax credit on their state business and occupation taxes or
public utility tax in the following year.
D. Utilizing this tax incentive program would allow greater
opportunity for the Kent Downtown Partnership to expand their programs'
Main Street Tax
Incentive Program
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NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT,
WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS:
RESOLUTION
SECTION 7, - Annual Contribution. The City is authorized to make
an annual contribution of City Business & Occupation Tax or Public Utility
Tax for purposes of participating in the Main Street Tax Incentive Program'
The Mayor is authorized to contribute up to the maximum permitted by the
Program.
$EOTION 2. - Agreement. The city is authorized to enter into an
agreement to memorialize the City's annual contribution, setting forth the
terms and conditions of the contributions acceptable to the Mayor and City
Attorney. Such agreement shall include accountability measures, such as
conditions or restrictions on the use of the contributions and a requirement
that the Kent Downtown Partnership provide the City with annual written
reports accounting for the use of the contribution and the benefits to the
community.
SECTION 3, - Severability. If any one or more section, subsection,
or sentence of this resolution is held to be unconstitutional or invalid, such
decision shall not affect the validity of the remaining portion of this
resolution and the same shall remain in full force and effect'
SECTION 4. - Corrections bv Citv Clerk Upon approval of the city
attorney, the city clerk is authorized to make necessary corrections to this
resolution, including the correction of clerical errors; resolution, section, or
subsection numbering; or references to other local, state, or federal laws,
codes, rules, or regulations.
Main Street Tax
Incentive Program
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SECTION S. - Effective Date. This resolution shall take effect and
be in force immediately upon its passage'
T)March 16. 2021
Date Approved
March 16. 2021
Date Adopted
DANA RALPH, MAYOR
ATTEST:
KIMBERLEY KOMOTO, CITY CLERK
APPROVED FO
R"P CITY ATTORNEY
3 Main Street Tax
Incentive Program