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ATTACHMENT L <br /> <br />Possible Tools for Implementation of Projects <br /> <br /> <br />Below is a short description of possible tools that could be used to implement desired downtown <br />projects. Where applicable, the description includes information on specific requirements or <br />limitations for each tool. <br /> <br />Bond Financing <br />Voter approved General Obligation bonds could be used for capital improvements that meet <br />constitutional and statutory requirements. A property tax levy would be used to repay the bonds. <br />Other types of bond financing may be used where an identified source of repayment is available. <br />For example, a bond issued to assist with the VA clinic project could be repaid through VA lease <br />revenue. <br /> <br />Downtown Urban Renewal Funds <br />Downtown Urban Renewal funds (loans and grants) could be used to fund capital improvements <br />and program administration. Funds could also be used to replace capital improvement funds in <br />other city accounts (like parking, Atrium, Hult, etc.) that would then free-up funds that could be <br />contributed to the General Fund for other uses. An example of another use would be for police. <br />However, the District currently has insufficient funds to cover the projects described. <br /> <br />Facility Reserve <br />Facility reserve is a potential source for a downtown safety station. <br /> <br />Federal Housing-Related Funds <br />Affordable housing developments could be eligible for Federal Community Development Block <br />Grant and HOME funds. <br /> <br />Funds from Increased Revenue <br />A few specific examples related to downtown include: increased marketing of City parking <br />options to attract parking customers to parking locations, or parking system rate increases or <br />changes to free and bulk parking programs. <br /> <br />General Fund Service Reprioritization <br />General Fund service reprioritization could be used to fund or to supplement funds for identified <br />projects. <br /> <br />Grants & Donations <br />Grants and donations may be available to supplement the purchase of public art, to provide <br />additional funding for vehicle charging, and for energy related costs. For example, EWEB and <br />the City are applying for more federal funds from the Department of Energy that would provide <br />an additional $1 million in funding for steam conversion. (DOE anticipates notifying applicants <br />selected for award by March 15, 2010 and making awards by May 15, 2010.) <br /> <br />