For the purpose of this chapter the words set out in this section shall have the following meanings:
"Acquisition"means the purchase or acceptance of a gift from a willing seller or donor of fee or less-than-fee interests in real property, without the exercise of eminent domain. These interests include, but are not limited to, options, rights of first refusal, conservation easements, leases, mineral rights, water rights and development rights. Nothing contained in this definition shall be construed to prevent the LBC and the property owner from jointly agreeing to seek judicial determination of property value.
"Conservation area"means land and water that have environmental, agricultural, aesthetic, cultural, scientific, historic, scenic or low-intensity recreational value for existing and future generations, and includes, but is not limited to, open spaces, wetlands, marshes, aquifer recharge areas, shoreline areas, natural areas and other lands and waters that are important to preserve flora and fauna.
"Conservation area real estate excise tax (REET)"means that tax authorized by the voters of the County (pursuant to the enablement and requirements of Chapters
82.45 and
82.46 RCW) as now enacted or subsequently amended:
1. Levied on each sale of real property in the County beginning December 6, 1990;
3. At a rate of one percent of the selling price;
4. For a period of 48 years after December 6, 1990, and expiring with transactions after December 5, 2038;
5. Proceeds to be used exclusively for the acquisition and maintenance of real property interests in conservation areas as defined in this section.
"Director"means the lead staff person who provides professional/technical support services to the land bank commission.
"Disposal"means the sale or trade or offering for sale or trade of real property interests acquired by the land bank commission (LBC) upon a finding by the County council, after recommendation by the LBC, that the interest acquired no longer achieves or is no longer necessary to achieve the rationale/public purpose that justified its acquisition.
"Land bank commission (LBC)"means the advisory body which assists the land bank director in the management of the land bank and advises the County administrator and County council in the selection of the land bank director.
(Formerly 16.54.020; Ord. 142-1990 § II; Ord. 6-1999 § 1; Ord. 21-2008 §§ 1, 10; Ord. 3-2012 § 1; Ord. 01-2025 § 1)