Funding Source Description Potential Application in Eugene <br />Revenue and <br />Bonding allows municipal and county government to Construction of major capital <br />general <br />finance construction projects by borrowing money and improvement projects within the <br />obligation <br />paying it back over time, with interest. Financing city, street maintenance and <br />bonds <br />requires smaller regular payments over time compared incidental improvements. <br />to paying the full cost at once, but financing increases <br />the total cost of the project by adding interest. General <br />obligation bonds are often used to pay for construction <br />of large capital improvements and must be approved <br />by a public vote. These bonds add the cost of the <br />improvement to property taxes over time. <br />Reimbursement <br />Also called Zones of Benefit or Advance Financed Construction of major capital <br />Districts <br />Districts, a city determines the boundary of the district. improvement projects within the city <br />Property owners of new development or large (possibly in Study Areas). <br />redevelopment permits pay a fee for the installation of <br />A local code amendment is needed <br />public improvements. They then recover some portion <br />to permit Reimbursement Districts in <br />of the cost over a period of years (often 15). <br />Eugene. <br />Table 6.4: Potential State and Federal Grants <br /> <br />Potential Application in <br />Funding Source Description <br />Eugene <br />Statewide <br />-year transportation Projects on any facility <br />Transportation <br />that meet the benefit <br />Improvement Program <br />distributing these funds has varied over recent years. categories of the STIP. <br />(STIP) <br />Generally, local agencies apply in advance for projects to <br />be funded in each four-year cycle. <br />Statewide <br />STIP-U -year transportation Projects on any facility <br />Transportation <br />capital improvement program for urban areas. that meet the benefit <br />Improvement <br />system for distributing these funds has varied over recent categories of the STIP- <br />Program-Urban (STIP- <br />years. Generally, local agencies apply in advance for U. <br />U) <br />projects to be funded in each four-year cycle. <br />Transportation and <br />TGM Grants are planning grants administered by ODOT Refinement of any <br />Growth Management <br />and awarded on an annual basis. The TGM grants are identified study projects. <br />(TGM) Grants <br />generally awarded to projects that will lead to more <br />livable, economically vital, transportation efficient, <br />sustainable, and pedestrian-friendly communities. The <br />grants are awarded in two categories: transportation <br />system planning and integrated land use/transportation <br />planning. <br /> <br />