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Prior to undertaking any construction, an equitable method of financing <br />the entire project should be adopted by the Planning Commission to insure <br />that all those benefiting from the program are paying their "fair share ". <br />This can be accomplished in a variety of ways, only two of which are dis- <br />cussed here. <br />First, a drainage improvement district could be established to encompass <br />the entire area. This district acting as a legal body, would be responsible <br />for providing all drainage improvements as they are needed. To finance the <br />construction, bonds could be issued and paid off by a tax levy against the <br />properties within the district. The West Greeley Franklin Suburban Water and <br />Sanitation District is a legal body already established in this area and <br />could possibly undertake this entire program. <br />A second solution is for the City of Greeley, acting under its authority <br />over the adjacent three -mile area, to undertake the management and super- <br />vision of this entire program. A "drainage fee" similar to the existing <br />"park fee" could be levied against all future developments. This fee would <br />be set aside and used only for the construction of the needed improvements. <br />In lieu of cash payments, the developers could be allowed to construct, in <br />conjunction with their development, that portion of the project that lies <br />on their property. The developers of the property adjacent to the "strip <br />park" could deed park land to the City in lieu of cash payments. In those <br />areas where development is complete or well underway, small drainage Improve- <br />ment districts could be set up similar to the street improvement districts <br />presently being used within the City Limits. <br />- 22 - <br />