Commercial office development public improvement fund—Expenditures.

1. Law
2. Revised Code of Washington
3. Cities and Towns
4. Commercial Office Space Development.
5. Commercial office development public improvement fund—Expenditures.

(1) The city may only make expenditures from the commercial office development public improvement fund that:

(a) Are to construct the public improvement that was identified in the approved application, requesting the property tax reinvestment submitted under RCW 35.107.040 and approved under RCW 35.107.050;

(b) Transfer funding to the project applicant to construct the public improvement and transfer ownership of the public improvement to a public agency; and

(c) Meet any additional criteria established in an ordinance adopted under RCW 35.107.030.

(2) The city and the project applicant must enter into a written agreement outlining the specifics of the public improvement, associated public improvement costs, responsible parties, and any other information required by the city.

[ 2019 c 273 § 8.]

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