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<br />I <br />I <br />I' <br />I <br />I <br />I <br />I <br />I <br />I <br />.. <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />, <br />I <br /> <br />9.7.01 <br /> <br />Table 5 <br />Advantages and Disadvantages of Different Funding Alternatives <br /> <br /> Funding Method Advantages Disadvantages <br /> Ad Valorem Tax 1. Administrative structure for coiiection 1. No incentive to reduce runoff or <br /> in place, poiiution, <br /> 2. Simple and accepted source of 2. No relationship to level of benefits <br /> revenue. received. <br /> 3. Aiiows for a larger revenue base. 3. Discontinuous source of revenue. <br /> 4. Through tax districts contributors pay. 4. Limitations on amount of <br /> expenditures due to budgef <br /> constraints. <br /> 5, Competifion with other City <br /> services (i.e., police, fire). <br /> Special Assessments 1, Only benefitted 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 /> hardshin 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 usuaiiy existing developments. <br /> plans and coiiecting 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 />I management. No competition with within existing City limits. <br />I 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 several <br /> funding sources. <br /> 4. Limited availability on an irregular <br /> schedule. <br /> 5. Requires considerable lead time <br /> from aoolication to receivino funds. <br /> <br />City at Arden Hilis, Minnesota <br />Local Stormwater Management Plan <br /> <br />A-ARDEN0101.00 <br />Page 36 <br />