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9/12/2022 <br />Project Funding <br />• Often a variety of sources are used and layered to <br />make a project feasible <br />• Reviewing options and applying doesn't obligate <br />City to move forward <br />• Many grant resources have long lead times: so ii <br />good to be proactive <br />Potential Funding Resources <br />• General Obligation Bonds repaid through: <br />General Tax Levy <br />- Special Assessments <br />- Revenue Funds (funds from utility rates) <br />• Public Facilities Authority <br />- Typically low interest loans over 20 year term <br />Term can be extended and potential for grant funds if <br />average per household cost exceeds 1.2% of MHI <br />Potential Grant Funding Resources <br />• State Bond Funds <br />- Request bond funds for 50% of project cost <br />- Request can be made in June of 2023 for <br />consideration in 2024 legislative session <br />• Congressionally Directed Spending <br />- Request funds for 50% of project cost <br />-Anticipated timeframe for application is spring 2023 <br />4 <br />