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<br />001516 <br /> <br />.. <br /> <br />'r <br /> <br />,,~ . <br /> <br />\:,[{lNCLPLES <br />\~ The following principles represent important conditions for <br />developing any new federal cost sharing and financing policy: <br />1. Any policy changes must be a joint effort involving the <br />Administration, the Stat~s, and the Congress in order to <br />end the stalemate over new federal water resource development. <br /> <br />2. Any new policy should be consistent across federal agency <br /> <br />programs and projects with similar purposes. <br /> <br />3. Any new financing mechanisms ur requirements must.: be babecl <br /> <br />on economic feasibility and realistic institutional <br /> <br />arrangements. <br /> <br />4. New policies should not apply to project~ now under con- <br /> <br />struction. <br /> <br />5. Any policy must recognize and fairly consider past federal <br />". commitments to some states under unique circumstances. <br />6. Federal water project funding must be timely and consistent <br />over time -- ensuring that adequate funding will be available <br />to facilitate prompt initiation and completion of con- <br />struction. <br /> <br />7. Federal cost sharing and financing is required where: <br />(1) the federal government is the direct project beneficiary; <br />(2) the federal government is in the best position to <br />allocate and recover, or bear, the costs associated with <br /> <br />indirect project benefits; (3) water resource development <br /> <br />meets national economic and social goals associated with <br />economic stabilization and redistribution; and (4) the <br /> <br />'. <br /> <br />federal government has established by statute rights to <br /> <br />some merit good. <br />