A. Based on an analysis of the businesses in the RDA, the city has determined that state excise tax allocation revenues in 2016 were six hundred fifty-six thousand two hundred ninety-nine dollars and the state property tax allocation revenues for 2017 are estimated at zero dollars.

B. The city council finds that the city has satisfied all prerequisites for imposing the LIFT tax and for receiving the state contribution, including, without limitation, the conditions set forth in RCW 39.102.040 and 82.14.475.

C. Prior to June 30, 2018, the city may incur indebtedness via general obligation bonds, pursuant to RCW 39.102.150, to finance the public improvements. (Ord. 3539-17 § 2, 2017.)