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(1) Within 120 days after the county council determines by motion that the resources of the Snohomish county public works assistance fund are sufficient to support the grant of one or more loans to local governments, the departments of finance and public works shall jointly prepare and present to the council for its adoption by motion:

(a) A proposed prioritization process for funding public works projects that gives priority to projects necessary to address public health needs, substantial environmental degradation, or increase existing capacity necessary to accommodate projected population and employment growth; and

(b) A proposed competitive application process for funding public works projects that requires consideration of the following factors in assigning a priority to and funding a project:

(i) Whether the local government applying for assistance has experienced severe fiscal distress resulting from natural disaster or emergency public works needs;

(ii) Whether the project is critical in nature and would affect the health and safety of a great number of citizens;

(iii) The cost of the project compared to the size of the local government and amount of loan money available;

(iv) The number of communities served by or funding the project;

(v) Whether the project is the acquisition, expansion, improvement, or renovation by a local government of a public water system that is in violation of health and safety standards;

(vi) The number of additional housing units estimated to be achieved by funding the project;

(vii) The number of additional jobs estimated to be achieved by funding the project; and

(viii) Other criteria the council may deem appropriate.

(c) A proposed schedule of terms, conditions, and interest rates that are necessary or convenient, considering the financial and other interests of the county, to carry out the purposes of this chapter.

(2) The prioritization process required by subsection (1)(a) of this section must be:

(a) Completed collaboratively with public works directors of local governments within the county through the Snohomish county tomorrow process initiated by council Motion No. 89-159, provided that final decisions shall be made by the council;

(b) Documented in the form of written findings produced by the county; and

(c) Revised periodically according to a schedule developed by the county and the public works directors.

(3) The council will adopt the procedures and schedule of terms, conditions, and interest rates, with or without revisions, or return the proposals to the departments for modification. Once adopted by the council the procedures shall be implemented by the departments of finance and public works and other county departments as provided therein. (Added by Ord. 22-032, Sept. 7, 2022, Eff date Sept. 22, 2022).