In accordance with the intent of the code and state priorities, the following criteria will be used to prioritize reallocation requests by the department:
- (1) The relative level of economic distress in the local community.
- (2) The number of citizens benefiting from the project.
- (3) The estimated positive economic impact of the project on the state or the local community.
- (4) The number of jobs created or retained by the project and the amount of recovery zone facility bond authority per job created or retained.
- (5) The readiness of the project to proceed.
- (6) The likelihood that the issuer will use the allocation within the timelines.
- (7) The amount of other public and private funding leveraged by the recovery zone facility bond allocation.
- (8) The amount of local community support for the project.
[Statutory Authority: Chapter 39.86 RCW, Executive Order 09-06, Federal American Recovery and Reinvestment Act of 2009, and Section 301(a) of Tax Extenders and Alternative Minimum Tax Relief Act of 2008, Division C of Pub. L. 110-343. WSR 10-07-128, § 365-135-100, filed 3/23/10, effective 4/23/10.]