CCP 12-09-2002 - Laserfiche WebLink

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Option #1: Use the ERF to fund one or two significant projects that can have . Countywide impact. Description: The County would col1ect funds until a sufficient amount had been collected to cover the costs associated with one or two projects, estimated at one to two years. The County would develop criteria for eligible projects, and then solicit proposals from the community. Local units of government, non-profit entities, or private entities would be eligible to submit proposals. The Connty would then contract with the appropriate entity for use of the ERF to pay for the project. Funds would be used for major projects that are already partly funded by other agencies, such as the Department of Trade and Economic Development (DTED), the Metropolitan Council and EP A. Connty funds would be used as a local match or leverage for a municipality to use. The benefits ofthe projects would accrue primarily to the host municipalities, although the overall County tax base would benefit with any resulting economic development. Examples a. In one suburban community there is land available (about 170 acres) for redevelopment that has soil and likely groundwater contamination. The County would contract with the municipality, al10wing the ERF to be used for acquisition of parcels for redevelopment; payment for other environmental costs not covered by grants from DTED, the Metropolitan Councilor EP A; and matching funds for other grants. The result could be the generation of$300 million in new value when redevelopment is complete, 5,000 new jobs with an annual payrol1 of $400 million, 500 new housing units, and a significant increase in local, County and State taxes. . Pros: . Completed remediation al10ws a property to be redeveloped and returned to the tax roles. . Targeting the funding will offer a greater chance of actual1y completing a project, because the amount ofERF funding available is small compared to the cost of remediation. . Completed projects make future needed projects seem less daunting and thus encourage communities to seek professional assistance to tackle them. Cons: . The amount of County funding may not be significant enough to make a difference on large environmental mitigation projects. . Some communities may feel that they will never have a chance to secure funding as the most significant projects are concentrated within a few communities. . Smal1er projects, and those that are not eligible for DTED, Metropolitan Councilor EP A funding would likely not be funded. . The County would need to apply staff time to develop criteria, seeking and evaluating proposals, negotiating contracts with one or two municipalities, and monitoring the project. . b