City of Spokane

Spokane Municipal Code

***Note: Many local criminal codes can now be located under Chapter 10.60 SMC while others are now cited under the Revised Code of Washington (RCW), which was incorporated into the municipal code in 2022. (See SMC 10.58.010). Code Enforcement, including Noise Control and Animal Regulations are located in Chapters 10.62 through 10.74.

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Title 07
Chapter 07.05
Section 07.05.025
 

Title 07 Finance

Chapter 07.05 Local Improvements

Article II. Improvements at Substantial Risk

Section 07.05.025 Determining Security for Assessments

Prior to the formation of a local improvement district for a substantial risk project, the city manager will cause City staff, in cooperation with the City’s fiscal advisor, to review the proposed improvement and report to the city council on the following criteria relating to the amount of security recommended to guarantee the payment of assessments:

  1. Strength of current financial statement of the proponent(s).
     
  2. Degree of liquidity potential of the proponent(s).
     
  3. Size and type of proposed local improvement district, including the extent of property in the district owned by the proponent(s).
     
  4. General market conditions for the class of real estate development proposed by the proponent(s).
     
  5. Status of the City’s local improvement district guaranty fund at the time of the proposed formation of the local improvement district.
     
  6. Proposed location of local improvement district relating to its consistency with sound growth management principles.
     
  7. Number of property owners involved.
     
  8. Potential marketability of the local improvement district bonds.
     
  9. Degree of equity investment in the proposed local improvement district.
     
  10. The total number of local improvement district projects proposed by the principal proponent(s) and the total of the costs for all projects proposed in the district.

Date Passed: Monday, May 7, 2007

Effective Date: Wednesday, June 20, 2007

Recodification ORD C34024 Section 1