Ord-2019-010 - Laserfiche WebLink

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3) Efficiency: If grants or current revenues are not available to fund a project, the County will select a financing technique that provides for the lowest total cost consistent with acceptable risk factors and principals of equity and effectiveness. These methods currently consist of fixed-rate general obligation or revenue bonds issued by the County, special funding programs funded by state or federal agencies, or special pool financing. When public facility improvements are located both in the City and Urban Growth Areas, the County and City I I • can jointly sponsor the formation of Local Improvement Districts, Road Improvement Districts, and other benefit areas for the construction or reconstruction of infrastructure to a common standard. 5.4.2 When Funding Is Unavailable If revenues that require voter approval in a local referendum that has not been held or is held and is not successful, the CIP will be revised at the next annual amendment to adjust for the lack of such revenues, in any of the following ways: • Reduce the level of service for one or more public facilities; • Increase the use of other sources of revenue; • Decrease the cost, and therefore the quality of some types of public facilities while retaining the quantity of the facilities that is inherent in the standard for level of service; • Decrease the demand for and subsequent use of public facilities; • A combination of the above alternatives. Developments that require public facility improvements shall be required to secure financing for these improvements as a condition of final County approval. 5.4 .3 Maintenance Financing The County intends to set aside sufficient revenue to finance ongoing maintenance needs and to provide periodic replacement and renewal of public facilities. This is necessary to keep public facilities in good repair and to maximize their useful life. The County should not provide a public facility, or accept the provision of a public facility by others, if the County or other provider is unable to pay for the subsequent annual operating and maintenance costs of the facility. 5.5 SIX-YEAR PLAN The County shall provide, or arrange for others to provide, the public facility improvements planned to take place in the next six-year period, with projected beginning and completion dates, estimated costs, and proposed methods offinancing. This information is detailed in Kittitas County's Capital Improvement Program (CIP) and is considered the six-year plan. Page 63 KITTITAS COUNTY ~ --------Comp re hens iv e Plan [!)