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• <br /> 1 <br /> RESOLUTION NO. v5 7 9 <br /> RESOLUTION endorsing a constitutional <br /> amendment to permit Community Redevelopment <br /> Financing (CRF) in the State of Washington <br /> WHEREAS , Community Redevelopment Financing is a reliable and <br /> time tested method for local development and redevelopment ; and <br /> WHEREAS , the State of Washington and the City of Everett would <br /> benefit greatly from the economic stimulus , jobs and physical <br /> improvements resultant from the use of Community Redevelopment <br /> Financing in development projects ; and <br /> WHEREAS , Community Redevelopment Financing allows a city to sell <br /> bonds for public improvements in conjunction with private investment <br /> and development in a designated area , and to pay off such bonds with <br /> new property taxes generated from that project ; and <br /> WHEREAS, CRF is a good method of financing redevelopment <br /> projects because it allows them to be paid for without use of <br /> general tax revenues ; and <br /> WHEREAS , Community Redevelopment Financing is used and accepted <br /> in more than half of the statesroutinely used in neighboring <br /> but of Oregon and California , has yet to be available to <br /> Washington cities ; and <br /> WHEREAS , an amendment to the Washington State Constitution to <br /> allow Community Redevelopment Financing is before the State ' s voters <br /> this November ; <br /> NOW, THEREFORE, BE IT RESOLVED, that the City of Everett hereby <br /> expresses its support for an amendment to the Washington State <br /> Constitution to permit local bodies of government to choose to use <br /> Community Redevelopment Financing and it urges voters to approve <br /> such a constitutional amendment at the 1985 general election. <br /> 1)(1 dr? <br /> a'Ctitt (Lk <br /> Councilperson Introsucing <br /> Resolution <br /> ATTEST : <br /> City Clerk <br /> APPROVED AS TO FORM: , ffilr—�� <br /> City Attorney <br /> PASSED: <br /> VALID: <br /> PUBLISHED: <br />