Laserfiche WebLink
public financial assistance should be loan before grant, to keep the money working for the <br />community. <br />Donations- private contributions given for general or specific purposes. A significant amount <br />of private wealth is anticipated to be passed to the next generation in the near future. Having a <br />policy in place for accepting donations would give security to donors, insure the proper <br />management of donated funds and, potentially, foster additional gifts. <br />Donations or grants could come from individual, businesses or non -profits. Funding sources <br />from other governmental jurisdictions are somewhat limited, and fall into the above <br />categories. However, other jurisdictions do make investment decisions affecting the City and <br />need to be considered in collateral requirements. Pathway and trail funding would be a case in <br />point. The Minnesota Department of Natural Resources and Ramsey County currently have <br />primary jurisdiction when securing financial participation from regional, state and federal <br />government entities. Part of the implementation process involves working with the various <br />agencies and private interest groups to secure the improvements, and to be prepared to <br />provide local supporting action and investments. <br />Investment Purposes <br />Pubic investment purposes are broadening to include equity positions in some private (but <br />public purpose) property, such as affordable housing. In some cases, historically public <br />facilities are being converted into private or joint ventures with or without direct lease <br />payments to or from the municipality. These investments fall into general groups that might <br />be labeled as land acquisition, facilities acquisition and development projects. <br />There are also some limited incentive investments that are made to directly induce private <br />investment. Direct public investments would focus on land acquisition, public improvements <br />and community facilities. <br />Recent Capital Investments <br />The City of Gem Lake made its first capital investment in 2007-2008 in conjunction with <br />White Bear Township (WBT) in building a joint Gem Lake City Hall/WBT meeting room. <br />This facility is jointly maintained, with WBT handling the grounds and the City of Gem Lake <br />handling the building. <br />Future Capital Improvements <br />Projected future capital improvement projects can be classified in a number of different ways <br />to reflect the objectives of the comprehensive plan and the reality of funding availability. A <br />central debate revolves around whether or not the community should plan for something if it <br />does not have available resources. One school of thought calls for planning only to realized <br />funding. Another school of thought suggests prioritizing needs (which nearly always exceed <br />resources) and developing a program that can respond to differing financing trends and <br />programs. Establishing a realistic but extended plan that exceeds available resources permits <br />capturing opportunities when new or special funding occasions occur. <br />Many funding sources are competitive and require long term planning and perseverance. It is <br />important to develop a comprehensive strategy that compiles improvement by: 1) investment <br />type (economic, development, parks), 2) priority (immediate to future), 3) funding source <br />(General Obligation Bond, Assessment, etc.), 4) or other management category. The purpose <br />of this comprehensive capital improvement strategy is to continually match changing <br />SEH13. implementation I page 69 <br />