Auburn, 5 other Puget Sound cities to receive local aid

Gov. Chris Gregoire today announced that the state will provide six Puget Sound cities, including Auburn, with up to $500,000 each annually for up to 25 years to help finance public improvements.

Gov. Chris Gregoire today announced that the state will provide six Puget Sound cities, including Auburn, with up to $500,000 each annually for up to 25 years to help finance public improvements.

Auburn, Bellevue, Federal Way in King County, Tacoma and University Place in Pierce County, and Bremerton in Kitsap County are among 13 communities to share in $4.75 million made available annually through a Local Revitalization Financing program enacted by the Legislature this year and signed into law by Gregoire.

Other recipients include Kennewick, Spokane, Vancouver, Wenatchee, and Clark and Whitman counties. Some of the projects were designated as demonstration projects by the Legislature, and others were approved on a first-come, first-served basis. All were required to submit applications, which were approved this week.

“I’m pleased that the state can help these communities make key public investments that will stimulate economic growth,” Gregoire said.

Approval of a seventh project involving Renton awaits re-submittal of the city’s application showing it can complete its project with $400,000 in available state assistance rather than the $500,000 it requested.

Bellevue, Tacoma, and University Place will each receive $500,000 annually, Bremerton $330,000, Auburn $250,000 and Federal Way $100,000.

The approved projects generally include transportation and utility improvements to facilitate commercial and residential development.

The program authorized cities and counties to create revitalization areas, sell bonds to pay for public improvements within that area, and pay off the bonds with the state money, local contributions, and local sales and property tax revenue generated by new activity within the revitalization area.

The state contribution comes from a share of the state sales tax generated in the community.

More information on the projects and the Local Revitalization Financing program is available at http://dor.wa.gov/content/doingbusiness/localrevitalizationfinancing.aspx.