HomeMy WebLinkAbout971RESOLUTION NO. -~L'--_,7L-.,/<---
A RESOLUTION of the City Council of the
City of Kent, Washington in support of
Senate Joint Resolution 143 (Community
Redevelopment Financing).
WHEREAS, there is a continued need for our communities to
eliminate central city blight and the deterioration of
our neighborhoods; and
WHEREAS, 8here is an absence of available financing mechanisms to
fund the provision of these capital facilities, and the
corresponding rehabilitation and redevelopment needs of
cities and towns; and
WHEREAS, certain types of capital projects result in increased
value of the surrounding property and increased private
sector investments; and
WHEREAS, many other states have provided a mechanism, known as
Community Redevelopment Financing, where such capital
facilities can be financed by earmarking the increased
property taxes resulting from such new investment to pay
off bonds issued to finance such projects; and
WHEREAS, the 28 other states currently utilizing Community
Redevelopment Financing have met with a large measure of
success. In each case, the promise of assured private
development has made possible extensive public
improvements, as well as created thousands of new jobs;
and
WHEREAS, the 1982 Washington State Legislature approved Senate
Joint Resolution 143 amending the Washington State
Constitution to allow cities and towns to utilize
Community Redevelopment Financing; and
HHEREAS, Senate Joint Resolution 143 will be voted upon this
November by voters in the State of Washington; NOW,
'rHEREFORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
HEREBY RESOLVE that the City of Kent supports approval of Senate
Joint Resolution 143 to build stronger communities and create new
jobs for the citizens of Washington State.
PASSED BY THE CITY COUNCIL of the City of Kent,
Washington at a regular meeting this ;,:;:y of ~ , 1982,
//·~ c/·1· ISAB OGAMAYOR
ATTEST:
APPROVED AS TO FORM:
I hereby certify that this is a true copy of Resolution
No. 97/ , passed by the City Council of the City of Kent,
Washington the 7th day of September, 1982.
~b MARIE JENS~ CLERK (SEAL)