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<br /> CHAPTER V <br /> Table 1: Financing Options Evaluation (continued) <br /> Local Improvement ¦ Flexible in use for capital projects. <br /> Districts ¦ Can only be used where there are projects that <br /> provide a special benefit to surrounding properties. <br /> ¦ Sometimes difficult to foster public support. <br /> General Obligation ¦ Flexible in use for capital projects. <br /> Bond ¦ Not subject to the $10/$1,000 cap on general <br /> government property taxes. <br /> ¦ Voter approval is required, as for local option <br /> levies.,... <br /> ¦ Longer duration (usually up to 20 years). <br /> ¦ Cannot be used for furnishings, fixtures, <br /> equipment, or ongoing maintenance. <br /> ¦ Limited capacity under the City's debt policy. <br /> Public/Government ¦ _Voter approval is not required. <br /> Grant Programs , Wide range of grant programs provides funding for <br /> a broad.range of projects and activities. <br /> ¦ Each source has specific eligibility requirements <br /> and approval criteria. Matching projects to <br /> appropriate grant sources is not always easy. <br /> ¦ Application, project reporting, and grant <br /> management requirements can be extensive for <br /> some programs. <br /> ¦ Usually there are matching requirements. <br /> Land Trusts ¦ Limited'to property protection or acquisition in specific <br /> circumstances, usually for environmental reasons. <br /> ¦ Some trusts own property, others only hold itshort-term. <br /> ¦ .The City may have to eventually purchase the <br /> property from the trust. <br /> National Tree Trust ¦ Only funds tree planting. <br /> Lifetime Estates ¦ Can make sales agreement more attractive to the <br /> .property owner. <br /> ¦ Limited application. <br /> ¦ May come with strings or requirements. <br /> Exchange of ¦ Limited application, since City must have property <br /> Property to exchange. <br /> ¦ Only for property acquisition. <br /> 68 City of Eugene PROS Comprehensive Plan <br /> . _ _ _ <br /> <br />