NRD looking at funding through Improvement Project Area
By Russ Pankonin
The Imperial Republican
Several months ago, the Upper Republican Natural Resources District hired a Lincoln law firm to look for other funding methods to pay for compact compliance activities.
That investment may be paying dividends.
During the board’s regular meeting Monday afternoon in Imperial, Joel Burke, the board’s legal counsel, said state statutes allow NRDs to fund specific projects through an Improvement Project Area (IPA).
Burke explained the board would create a benefit area, where the benefits of a particular project would be determined.
Those benefits would translate into assessments, with those benefitting most paying the highest assessment.
These assessments could be used to create a sinking fund for compliance projects or to repay bonds sold to finance a project.
Burke said he has been working closely with the Lincoln law firm to insure this is a funding method the NRD could use.
Burke said there are already state statutes in place for an NRD to create an IPA and make assessments for paying for the specific projects.
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