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Long -Term Street Maintenance and Reconstruction Program Funding Source Pros & Cons <br />Funding Source <br />General Obligation <br />(Go) Bonds <br />Franchise Fees <br />Special <br />(State Statute Ch. <br />429} <br />General Levy NSA <br />Fund} <br />MnDOT Municipal <br />State Aid Annual <br />Tax Abatement <br />Districts <br />Tax Increment <br />Financing <br />Pros <br />Dependable, but Only as Tong as city <br />maintains a good rating. <br />Tax write-off. <br />Constant, dependable and renewahie <br />funding source. <br />Provides taxpayer t � _ _ . <br />Payment not reflective of residency, <br />tax status, or ownership status. <br />Small monthly payments easier for <br />taxpayers than one large assessment. <br />Reduces levy impacts due to band <br />interest. <br />Provides taxpayer <br />versus benefit). <br />Accepted process. <br />Tax write-off. <br />City directly controls funds. <br />Cons <br />Increased tax capacity rate. <br />Counts against debt limn. <br />Requires public outreach effort. <br />(cost Petitions easily delay or derail projects.. <br />Taxpayer _ s _ _ (cost versus <br />benefit). <br />Most benefited properties pay. <br />Special Legislation U nknown...TBD <br />Proving benefit can be difficult and add <br />to project costs.. <br />Large. .0 are hard to pay. <br />Not a constant, dependahie ar renewable <br />funding source. <br />Not transparent to taxpayers. <br />Levy limit dependent. <br />Declining clue to waning fuel tax revenues <br />due to erosion by inflation, fewer vehicle <br />miles driven percapita, and use of more <br />fuel -efficient and a Itemate-fuel vehicles. <br />$200,00o annual limit. <br />Proving. benefit can be difficult and can <br />add to project costs. <br />New TAD created for each project. <br />Existing TIF's are soon expiring. <br />Unknown...TBD <br />(ions <br />hop <br />