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A MOTION acknowledging receipt of the Transit-Oriented Development Bond Allocation Plan.
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WHEREAS, the Washington state Legislature passed Substitute House Bill 1223 in 2015, with an effective date of July 24, 2015, which became Chapter 102, Laws of Washington 2015, and
WHEREAS, Chapter 102, Laws of Washington 2015 authorized King County to issue debt against future lodging tax revenue for the purpose of creating affordable workforce housing within one-half mile of a transit station, and
WHEREAS, the King County executive has drafted the Transit-Oriented Development Bond Allocation Plan outlining how bond proceeds will be invested in workforce housing projects throughout King County;
NOW, THEREFORE, BE IT MOVED by the Council of King County:
The council acknowledges receipt of the Transit-Oriented Development Bond Allocation Plan, Attachment A to this motion.