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Bonney Lake council approves business incentives


April 22, 2009 · 2:39 PM

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The Bonney Lake City Council has provided temporary incentives to encourage investing in commercial building.

"The intent is to increase the city's sales tax base," City Administrator Don Morrison said.

The ordinance creates temporary commercial building stimulus incentives that sunset Dec. 31, 2011. It waives up to 50 percent of certain land use fees and 50 percent of building and plan review fees and also grant a 75-percent rebate of construction sales tax up to $100,000.

The council hopes the ordinance will entice new businesses to locate in Bonney Lake or encourage existing businesses to expand.

To qualify for the incentive package, construction must take place within the Downtown Core, Downtown Mixed Use or Commercial Zoning districts. For mixed-use building, 50 percent must be identified for commercial use.

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