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<br />Bond Issue: Bonds are usually issued to pay for large public works projects, including flood <br />and drainage improvements. Fairfax County, Virginia, and Homewood, Illinois, identified <br />bonds sold for stormwater or drainage improvement purposes as one of their funding <br />sources, <br /> <br />hnpact Fees: Some drainage projects in Fairfax County, Virginia, are paid by contributions <br />from developers. They are required to contribute to the cost of handling the increased <br />stormwater runoff produced by their developments. The fees are put in a fund for drainage <br />projects. Flood proofing can be funded when it is shown to be a more economical way to <br />handle a drainage problem. <br /> <br />Creative Financing: A community is limited only by its imagination, Several have found <br />"creative" ways to find funds for flood proofing. For example, Illinois levies an income tax <br />which it shares with local governments. For a few years the share was increased. The City <br />of Des Plaines appropriated $200,000 from this "extra" money to establish a fund for its <br />flood proofing rebate program. The fund still has a balance to support more projects, even <br />though the income tax revenue sharing was decreased back to the old level. <br /> <br />Frankfort, Kentucky, plans to set up a revolving loan fund by augmenting general revenue <br />with the proceeds from the sale of land that had been purchased for low income housing and <br />the phasing out of a housing corporation. Since these two programs were designed to <br />improve housing, there are no problems with using their assets to improve the City's housing <br />stock by flood proofing flood prone homes. <br /> <br />State Support: Some states have had special appropriations to support local programs. The <br />Amite River Basin Commission will be funding a portion of the pilot project in Denham <br />Springs, Louisiana, through its annual appropriation from the State. In 1988, the Illinois <br />Housing Development Authority set aside $500,000 for low interest loans for flood proofing. <br />Eighteen Chicago suburbs and one county were authorized to approve loans from their <br />allocation. This program is explained in more detail on page A-17 in Appendix A, <br /> <br />Federal Support: Several federal agencies, such as the U,S. Army Corps of Engineers and <br />the Tennessee Valley Authority, have directly supported flood proofing projects. The lessons <br />learned from this work is often transferrable to local government programs. One example of <br />this is the Corps' publication, A Flood Proofing Success StOry (see page 9), which provides <br />documents on dealing with property owners and contractors that are applicable to all <br />financing programs. <br /> <br />The Department of Housing and Urban Development's Community Development Block Grant <br />and FEMA's Public Assistance and Hazard Mitigation Grant Programs provide funds for <br />communities to administer. These are discussed in Section 4,3 on pages 25-27. <br /> <br />3.3 Community Interest <br /> <br />What motivates a community to fund flood proofing projects? Those that have investigated <br />or implemented funding programs cited one or more of five broad reasons: economics, <br />comprehensive planning, external impact, the Community Rating System, and post-flood <br />mitigation funding. These five items are discussed in detail in this section, <br /> <br />-14- <br />