1. (1) In order to approve the sales and use tax remittance and property tax reinvestment for a qualifying project under RCW 35.107.030, an owner of a qualifying project must, in coordination with the city, submit an application to the city consistent with the standards and guidelines provided in RCW 35.107.030. Additionally, the application must include:

   1. (a) Whether the qualifying project is located within a commercial office space development area, in accordance with an adopted ordinance under RCW 35.107.030;
   2. (b) Whether the qualifying project meets the definition of a qualifying project;
   3. (c) The number of family living wage jobs estimated to be generated by the qualifying project;
   4. (d) A description of the qualifying project, including a physical description of proposed building or buildings including estimated square footage, number of floors, and a list of features and amenities;
   5. (e) The cost of construction or rehabilitation, and length of time that the qualifying project will be under construction;
   6. (f) Whether the qualifying project is or will be, at the time of completion, in conformance with all local plans and regulations that apply at the time the application is approved; and
   7. (g) A statement that the qualifying project is not anticipated to be used for the purpose of relocating a business from outside of the commercial office space development area, but within the state, to within the commercial office space development area. This does not exclude the incentives authorized under this chapter and RCW 82.14.532 from being used for the expansion of a business, including the development of additional offices or satellite facilities.

2. (2) If the project applicant is seeking a sales and use tax remittance, the application must also include:

   1. (a) A written agreement for the use of the local sales and use tax remittance from any taxing authority that imposes a sales or use tax under chapter 82.14 RCW or RCW 81.104.170. The agreement must be authorized by the governing body of such participating taxing authorities. If a taxing authority does not provide a written agreement, the sales and use tax for that taxing authority may not be remitted and the revenue may not be estimated in the application;
   2. (b) An estimate of the amount of local sales and use tax revenue that will be remitted to a taxpayer;
   3. (c) The approximate date that the local sales and use tax revenue will be remitted to a taxpayer; and
   4. (d) The criteria under this section by which a qualifying project can later receive certification under RCW 82.14.532(4) confirming that a taxpayer is eligible for the remittance.

3. (3) If the city intends to approve the qualifying project for a property tax reinvestment, the application must also include:

   1. (a) A written agreement of the participation of any taxing authority that collects a local property tax allocation. The agreement must be authorized by the governing body of such participating local taxing authorities. If a taxing authority does not provide written agreement, the local property tax for that taxing authority may not be remitted to the city legislative authority that established a commercial office development public improvement fund;
   2. (b) An estimated amount of property tax to be deposited into a commercial office development public improvement fund resulting from the qualifying project; and
   3. (c) A prioritized list of public improvements that support the development of the qualifying project, and the estimated public improvement costs.

[ 2019 c 273 s 5.]