Financing for Environmental Compliance
Planning Process Step One: Assemble a Team
A good team is essential to the overall success of the project. Team members will:
- Determine the equipment needs
- Complete a cost analysis
- Develop a financing plan
- Help the community understand how the capital asset improvements will benefit the entire community.
Contracting support may be necessary if current municipal or Tribal employees cannot fill these roles.
Your team can use the following steps to develop a financing plan and present their findings to the community and local government officials.
Successful financing of environmental capital assets requires the buy-in of the local political approving entity and community stakeholders. Briefings and public meetings during each stage will increase the likelihood of success. Reaching agreement among various groups is one of the most difficult aspects of public financing. Transparency and involvement can help a community reach agreement.
Your team should include, at a minimum, members with the following skill sets:
- Knowledge of the technical requirements and capabilities of the utility asset. An understanding of past problems and ability to devise the ultimate technical solution are critical to achieve success.
- The ability to locate and understand the various funding options and devise an overall financing plan. In addition, this person must be able to clearly articulate the benefits of each financing plan option to team members and municipal officials.
- The ability to gain the support of municipal officials at the beginning of the planning process. A key skill is the ability to deliver clear presentations that describe the project goals, costs, and technical and financial options and to answer general questions or concerns.*
- The ability to discuss the project vision and goals (including costs and benefits) with community members and bring community input back to the other team members. Community outreach should start as soon as the team has the support for the project from the municipal or Tribal.*
- The ability to provide external liaison activities. This person should be able to explain the project goals, costs and benefits to the general public, media, and other government entities.*
Next step: Conduct a Needs Analysis