Local Infrastructure Financing Tool (LIFT)
The LIFT Program was established during the 2006 Legislative Session. The program provides an alternative way to support Washington's public infrastructure and helps to create jobs and increase local economic growth. The competitive program allows selected local governments to take advantage of tax revenue generated by private investment in a Revenue Development Area (RDA) to make payments on bonds used to finance public infrastructure improvements.
Under the current LIFT program, cities, towns, counties, and federally-recognized tribes could apply for the $2.5 million in annual LIFT authority that is awarded competitively by the Community Economic Revitalization Board. The LIFT statute limits an RDA to one per county with the exception of those jurisdictions that straddle more than one county. Read more about LIFT.
Berk & Associates was retained by the City of Puyallup to assist in the preparation of the city's application to the Community Economic Revitalization Board (CERB). The pursuit of the LIFT award was part of the City's long-term strategy to invest in infrastructure and public facilities that support a more urban form capable of accommodating sustainable economic growth and positioning the area for long-term success.