A. The Railyards infrastructure fund is established. The city shall deposit all revenues generated by the Rail-yards impact fee, and any interest earned on the fund balance, into the fund.
B. The city shall use the Railyards infrastructure fund to:
1. Finance the design, construction, installation, improvement, and acquisition of Railyards facilities.
2. Reimburse the city for administrative costs identified in the updated Railyards finance plan.
3. Reimburse landowners and holders of development credits consistent with section 18.56.940 and the updated Railyards finance plan. (Ord. 2018-0045 § 1)