MUNICIPALITIES MUST GET CREATIVE TO FUND RESILIENCY IN A TIME OF BOTH GREATER NEED AND REDUCED FEDERAL FUNDING
The Resilience Authority of Annapolis and Anne Arundel County’s financial tools include:
- The capability to receive state and
federal grant funds.
- Receiving funds from a local government
that transfers a portion of its revenue to fund a project.
- Bonding authority to establish revenue
for major projects. This way, a regional project can be done without a
local government having to market, sell and repay the bonds, which can
impact bond ratings for those municipalities.
- Functioning as a nonprofit (but not as a
traditional 501(c)(3) to receive charitable donations from local and
national foundations and philanthropic organizations.
- The authority to enter into a
public-private partnership to fund resiliency.
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