Drafter
Clerk 06/03/2010
Title
A MOTION urging support for favorable consideration by the United States Congress of legislation authorizing tax-exempt status for conservation forestry bonds.
Body
WHEREAS, the presence of extensive tracts of working forest lands within King County provides the region with the opportunity to conserve these lands, and
WHEREAS, such lands provide green jobs, revenue for local governments and wood products for manufacturing, construction, energy production and other purposes, and
WHEREAS, such lands face potential conversion to other uses, including residential development, as they become available for sale, and
WHEREAS, the funding levels that would be needed for direct acquisition of these lands by public agencies interested in conserving them as working forests far exceeds the levels of funding available for that purpose, and
WHEREAS, given limited availability of direct public and philanthropic funding, innovative conservation financing tools have the potential to play an important role in retaining these lands in working forest status and retaining the associated jobs, and
WHEREAS, among those tools are conservation forestry bonds, and
WHEREAS, such bonds can be utilized to acquire specified properties, manage them as working forests, and repay bond debt obligations with revenue from timber sales managed for sustainable conservation purposes, and
WHEREAS, such bonds are currently being considered by the United States Congress for tax-exempt status through the Community Forestry and Conservation Act of 2009, and
WHEREAS, Washington's Congressional Delegation members Senator Murray, Senator Cantwell, Congressman McDermott and Congressman Reichert are sponsors of the Act, and
WHEREAS, counties throughout the state and the nation can benefit by this additional tool for conserving working forests and retaining green jobs;
NOW, THEREFORE, BE IT MOVED by the Council of King County:
A. The King County council hereby urges ...

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