RCW 43.168.010 Legislative findings and declaration. The legislature finds that: (1) The economic health and well-being of the state, particularly in areas of high unemployment, economic stagnation, and poverty, is of substantial public concern. (2) The consequences of minimal economic activity and persistent unemployment and underemployment are serious threats to the safety, health, and welfare […]
RCW 43.168.020 Definitions. Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) “Department” means the department of commerce. (2) “Director” means the director of commerce. (3) “Distressed area” means: (a) A rural county; (b) a county which has an unemployment rate which is twenty percent above the state […]
RCW 43.168.040 Approval of applications for federal community development block grant funds for projects. Subject to the restrictions contained in this chapter, the director is authorized to approve applications of local governments for federal community development block grant funds which the local governments would use to make loans to finance business projects within their jurisdictions. […]
RCW 43.168.050 Application approval—Conditions and limitations. (1) The director may only approve an application providing a loan for a project which the director finds: (a) Will result in the creation of employment opportunities, the maintenance of threatened employment, or development or expansion of business ownership by minorities and women; (b) Will conform to federal rules […]
RCW 43.168.055 Application priorities. In addition to the requirements of RCW 43.168.050, the department shall, subject to applicable federal funding criteria, give priority to applications that capitalize or recapitalize an existing or new local revolving fund based on criteria established by the department. [ 1999 c 164 § 503.] NOTES: Findings—Intent—Part headings and subheadings not […]
RCW 43.168.060 Local development organizations—Duties of department—Rules. The department is encouraged to work with local development organizations to promote applications for loans by the fund. The department shall also provide assistance to local development organizations and local governments to identify viable projects for consideration. The department shall adopt such rules and regulations as are appropriate […]
RCW 43.168.070 Processing of applications—Contents of applications. The director may receive and approve applications on a monthly basis but shall receive and approve applications on at least a quarterly basis for each fiscal year. The director shall make every effort to simplify the loan process for applicants. Department staff shall process and assist in the […]
RCW 43.168.090 Use of federal community development block grant funds. The department shall use for the fund an amount of federal community development block grant funds equal to the amount of state funds transferred or appropriated to the department for purposes of supplementing the department’s block grant funds. [ 2005 c 136 § 8; 1985 […]
RCW 43.168.100 Entitlement community grants—Conditions. The director may make grants of state funds to local governments which qualify as “entitlement communities” under the federal law authorizing community development block grants. These grants may only be made on the condition that the entitlement community provide the director with assurances that it will: (1) Spend the grant […]
RCW 43.168.110 Rural Washington loan fund. There is established the rural Washington loan fund which shall be an account in the state treasury. All loan payments of principal and interest which are transferred under RCW 43.168.050 shall be deposited into the account. Moneys in the account may be spent only after legislative appropriation for loans […]
RCW 43.168.120 Guidelines for use of funds for existing economic development revolving loan funds—Grants to local governments to assist existing economic development revolving loan funds. (1) The department shall develop guidelines for rural Washington loan funds to be used to fund existing economic development revolving loan funds. Consideration shall be given to the selection process […]
RCW 43.168.130 Development of performance standards. The director shall develop performance standards for judging the effectiveness of the program. Such standards shall include, to the extent possible, examining the effectiveness of grants in regard to: (1) Job creation for individuals of low and moderate income; (2) Retention of existing employment; (3) The creation of new […]
RCW 43.168.150 Minority and women-owned businesses—Application process—Joint loan guarantee program. Subject to the restrictions contained in this chapter, the director is authorized to approve applications of minority and women-owned businesses for loans or loan guarantees from the fund. Applications approved by the director under this chapter shall conform to applicable federal requirements. The director shall […]
