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Our goal with this Policy Plan is to look more broadly at opportunities and unintended <br /> consequences throughout the water cycle and across the region before making costly <br /> investments. In this way, the Council will identify the most valuable combination of actions. For <br /> example, the Council will investigate whether or not we can more efficiently and effectively <br /> reduce nonpoint source pollution instead of or to offset making costly upgrades to our <br /> wastewater treatment plants. <br /> The Investment Policy sets the stage for continuing to move forward in our infrastructure <br /> investments by balancing costs and benefits as we make decisions on the need to spend more <br /> on costly wastewater infrastructure improvements or offsetting some of those improvements by <br /> addressing nonpoint sources of pollution. In addition, regionally, it is very important to identify <br /> how communities could gain some economic and water resource efficiencies by sharing source, <br /> treatment and/or storage facilities. In collaboration with local and state partners, the Council will <br /> provide recommendations for the ongoing and long-term funding of capital investments. The <br /> Council is committed to work with our partners to develop strategies and criteria for funding <br /> regionally beneficial water supply infrastructure projects. <br /> Investment Policy: <br /> The Council will strive to maximize regional benefits from regional investments. <br /> Implementation Strategies: <br /> • Invest in nonpoint-source pollution control when the cost and long-term benefits are <br /> favorable compared to further upgrading wastewater treatment. <br /> • Consider pollutant trading or off-set opportunities with nonpoint-sources of pollution <br /> when cost-effective and environmentally beneficial. <br /> • Invest in wastewater reuse when justified by the benefits for supplementing groundwater <br /> and surface water as sources of water to support regional growth, and by the benefits for <br /> maintaining water quality. <br /> • Potentially invest strategically to further the effectiveness of the region's nonpoint-source <br /> pollution prevention and control program and to ensure efficient investment to achieve <br /> regional water quality objectives. <br /> • Support cost-effective investments in water supply infrastructure to promote sustainable <br /> use and protect the region's water supplies by: <br /> - Developing criteria to identify water supply projects with regional benefit. <br /> - Promoting equitable cost-sharing structure(s)for regionally-beneficial water <br /> supply development projects. <br /> - Supporting cost-benefit analyses of alternative water supply options. <br /> - Identifying funding mechanisms for regionally-beneficial water supply <br /> development projects. <br /> 27 <br />