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LT SMP Costs & Funding Options <br />Alternative Funding Options - <br />• Alternative funding options available to cities include: <br />• Borrowing against or leveraging revenues including the use of <br />toll charges and public -private partnerships (PPPs). A number of <br />State Statutes have recently been adopted to allow cities to use <br />such financing options due to their ability to provide more <br />stable, long-term funding sources. <br />• A general (special) tax levy can be applied against all <br />properties in the city upon determining how much revenue is <br />needed to pay for our expected SMP shortfall . The highest <br />valued properties then end up paying the largest share of the <br />costs, and properties utilizing tax abatement or located in TIF <br />Districts would not contribute to program funding, nor would <br />benefitting properties exempt from property taxes such as <br />churches, schools and non -profits. All revenues collected could <br />be a line item budget such as Street Maintenance Program. <br />City of I,. <br />RAMSEY <br />August 27, 2013 CC Workshop <br />L <br />1 <br />