HomeMy WebLinkAbout1071RESOLUTION NO. /07/
A RESOLUTION of the City Council of the
City of Kent, Washington, in support of ballot
issue HJR 23 enabling local government to
finance public improvements through the use of
community redevelopment financing.
WHEREAS, there is a continual need to respond to the
capital needs of cities and towns; and
WHEREAS, there is a need for local governments to address
problems of blight, deteriorate of neighborhoods and
rehabilitation of certain targeted commercial areas; and
WHEREAS, most local governments do not have the resources
or financing mechanisms required to fund such necessary capital
expenditures and therefore are unable to undertake the necessary
rehabilitation and redevelopment projects; and
WHEREAS, it is recognized that certain public capital
projects result in increased private sector investment and
increased property values to the general public's benefit; and
WHEREAS, many other states authorize the use of community
redevelopment financing, which relies on property tax from new
private sector investment and increased property values to pay off
bonds issued to finance capital improvements; and
WHEREAS, the legislature has submitted to the voters a
constitutional amendment, HJR 23, which, if approved, will
authorize the use of community redevelopment financing in the
State of Washington; and
WHEREAS, House Joint Resolution 23 will be voted upon
this November by voters in the State of Washington; NOW THEREFORE
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. The City of Kent strongly endorses and
encourages voter approval of HJR 23, authorizing local governments
to utilize community redevelopment financing.
Passed at a regular meeting of the City Council of the
City of Kent Washington this c;i3L_ day of g;;eb= 1985.
~curred in by the
~~~~-----' 1985.
Mayor of the City of Kent, this~.:<.
day of ~.~
ATTEST:
APPROVED AS TO FORM:
~(~ATTORNEY
Resolution
I hereby certify that this is a true and correct
No. /o7/ , passed by the City Council of the
Kent, Washington, the ~/
'
day of t:bs/-: ' 1985.
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copy of
City of