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<br />I <br />Ie <br />I <br />.' <br />I <br />I <br />I <br />I <br /> <br />'. <br /> <br />I <br />lit <br />I <br />I <br />, <br />I <br />I <br />I <br />Ie <br />I <br />I <br /> <br />2.11.02 <br /> <br />Table 5 <br /> <br />Advantages and Disadvantages of Different Funding Alternatives <br /> <br />Funding Method Advantages Disadvantages <br />Ad Valorem Tax 1, Administrative structure for collection 1, No incentive to reduce runoff or <br /> in place. pollution. <br /> 2. Simple and accepted source of 2, No relationship to level of benefits <br /> revenue. received, <br /> 3. Allows for a larger revenue base. 3. Discontinuous source of revenue, <br /> 4, Contributors pay through tax districts. 4. Limitations on amount of <br /> expenditures due to budget <br /> constraints. <br /> 5, Competition with other City <br /> services (Le" police, fire), <br />Special Assessments 1, Only benefited properties pay, 1. Rigid procedural requirements. <br /> 2. Revenues from assessment are 2. Runoff contributions cannot be <br /> applied to a specific project cost. No assessed, <br /> competition with general services. 3. Difficult to determine and prove <br /> 3, Benefits directly related to cost for benefit. <br /> service. 4. May place an unfair burden on <br /> 4. Assessment can be deferred in some segments of the population, <br /> hardshio cases, <br />Development 1, New development generating runoff 1, Only address problems within the <br />Charges pays for runoff management. vicinity of the new development, <br /> 2. Administrative structure for reviewing not usually existing developments, <br /> plans and collecting fees is in place, 2. Only address prevention not <br /> 3, Systems can be tailored to the correction of major problems. <br /> specific needs through regulatory 3. Limited usefulness as a financing <br /> changes, mechanism, . <br /> 4, Revenues are applied to water 4. Limited new development pressure <br /> management. No competition with within existing City limits. <br /> general services. <br />Grants 1, Reduce cost burden to residents in 1. Undependable source of revenue, <br /> the community. 2. Increase administrative costs for <br /> securing and managing the funds. <br /> 3. Most often grants require cost <br /> sharing and thus additional funding <br /> source. This results in double <br /> administrative costs due to severai <br /> funding sources, <br /> 4, Limited avaiiability on an irregular <br /> schedule, <br /> 5, Requires considerable lead time <br /> from aDDlication to receivina funds. <br /> <br />City of Arden Hiils, Minnesota <br />Local Water Resource Management Plan <br /> <br />A-ARDEN0101,OO <br />Page 37 <br />