Section 479-14-161. Matching requirement for the urban program.

The urban program provides funding which will be matched by other funds as follows:

(1) For cities:

(a) If the city valuation is under $1.0 billion, the matching rate is ten percent of total project costs.

(b) If the city valuation is $1.0 billion to $2.5 billion, the rate is fifteen percent of total project costs.

(c) If the city valuation is over $2.5 billion, the rate is twenty percent of total project costs.

(2) For counties:

(a) If the road levy valuation is under $3.0 billion, the rate is ten percent of total project costs.

(b) If the road levy valuation is between $3.0 billion to $10.0 billion, the rate is fifteen percent of total project costs.

(c) If the road levy valuation is over $10.0 billion, the rate is twenty percent of total project costs.

The board uses the current published valuation from the department of revenue.

(3) For transportation benefit districts, the match is based on the valuation of the city or county in which it is located. If the project lies within more than one city or county, the match is determined by the city or county that has the greatest valuation.

[Statutory Authority: Chapter 47.26 RCW. WSR 12-08-060, § 479-14-161, filed 4/3/12, effective 5/4/12; WSR 07-18-050, § 479-14-161, filed 8/30/07, effective 9/30/07.]

Chapter 47.26 RCW. WSR 12-08-060, § 479-14-161, filed 4/3/12, effective 5/4/12; WSR 07-18-050, § 479-14-161, filed 8/30/07, effective 9/30/07.