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CITY OF EVERETT FISCAL ANNEXATION ANALYSIS <br /> The map in Exhibit 2shows the annexation areas included in the study, which lie to the southwest <br /> and southeast of the current city boundaries. <br /> Exhibit 2 <br /> Everett Potential Annexation Areas <br /> r <br /> fA 1.,',',13y{. ,,i A« <br /> y ` ' <br /> n � <br /> _Y — _ - a r ,i'a ..- -t.i,,,,,,ti '.S: <br /> ' ii <br /> EVERETT ``.-: 1„ � 4. <br /> i ce_ rt.• li .+mss ia. _. <br /> r <br /> V . <br /> y. . ` • <br /> f ,, 1 ~ IARIMER <br /> i. _ WAND s ' p. <br /> :, 17owMAHOPC A. . <br /> (POfUtAIION ,8 50 - - ,� s' <br /> m r, <br /> , L, a..-4-U- k @ <br /> I 4� t7 f' '` i, x Fr <br /> ,r' i'j .r '.... <br /> Source:City of Everett,2007;Berk&Associates,2008 <br /> 1.2 Sales Tax Credit <br /> Because of the fiscal challenges posed by most large annexations, in March 2006, the Washington <br /> State Legislature added a new funding mechanism to provide transitional funding to annexing cities. <br /> The Legislature passed a bill authorizing a local sales tax credit to assist the cities with negative <br /> revenue impacts resulting from annexations of with areas with a population of at least 10,000. The <br /> funding assists eligible cities by providing support for up to ten years and gives communities time to <br /> integrate the new areas and implement policies designed to address the long-term fiscal impacts of <br /> annexations. In addition to the revenues from existing City taxes and fees, the analysis considers the <br /> implications of alternative annexation scenarios in terms of eligibility for the state sales tax credit. It is <br /> important to explore different annexation scenarios, including full annexation of all areas and partial <br /> annexation options, based on logical combinations of the study areas. <br /> Lie Final Report:October 2008 Page 2 <br />