Wenatchee Waterfront - Local Revitalization Financing (LRF)

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The Local Revitalization Financing (LRF) Program was created by Second Substitute Senate Bill 5045, passed by the Washington State Legislature in 2009. The LRF program authorizes cities and counties to create “revitalization areas” and allows certain increases in local sales and use tax revenues and local property tax revenues generated from within the revitalization area, additional funds from other local public sources, and a state contribution to be used for payment of bonds issued for financing local public improvements within the revitalization area. The state contribution is provided through a new local sales and use tax that is credited against the state sales and use tax (sometimes referred to as the “LRF tax”). This tax does not increase the combined sales and use tax rates paid by consumers.


Additional LRF information from the Dept. of Revenue