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November 24, 1986 <br />Page 9 <br />other than those mentioned in this memorandum. The Revenue <br />Sharing program was not renewed and appropriations expired <br />this year.. <br />CONCLUSIONS: <br />It appears that the only option for financing of the Storm <br />Water Plan is the property tax levy. Issuance of general <br />obligation bonds may become necessary to spread the costs of <br />larger projects over a number of years to make annual debt <br />service costs more affordable. The Storm Water Management <br />Fund's monies are available but they are not of a sufficient <br />amount to appreciably effect financing required for projects <br />contained in the Plan. <br />Park Improvements and a Park Development Fund also would have <br />to rely upon the property tax levy. Presently available <br />funding sources are fully committed to other projects. <br />I believe that before proceeding further Staff needs to inform <br />Council of possible financing options. After Council has been <br />informed of financing options Staff needs direction on which <br />options to pursue and an indication of the amount of the <br />property tax levy that should be committed to these plans. <br />Staff would then be in a position to focus on specific options <br />tand develop an affordable and workable plan. <br />Two parts of the equation for the long term financing of <br />infrastructure and other capital items are presently missing. <br />These are an equipment replacement schedule and some plan for <br />maintenance of existing City buildings. <br />DB/ds <br />cc: Department Heads <br />